CORSAIR CAPITALISM KILLS.

France and Britain, several centuries ago, supported corsairs, who were state sanctioned pirates (preying on Spanish shipping, typically). Some became very famous and honored (Sir Francis Drake in Britain, Surcouf and Suffren in France). The USA has been using its plutocrats and hedge funds as old time corsairs, but on a world sucking scale. Nazism was a client of Wall Street and varied American plutocrats. Stalin, Hussein and bin Laden were allies, and received gifts [such as half of Europe for Stalin]. Enough.

Plain old thievery and organized crime is at the root of the present crisis. Unfortunately, the inexperienced, plutocratically advised Obama, chose as economic advisers devoted fanatics of the plutocracy, Summers and Geithner, and their perverse and ridiculous advice is often regurgitated by the august presidential lips, just as it was put in. G20 leaders should be aware of that.

Present American policy, with its trick to force other countries [such as China] to buy Treasury Bonds of the USA, lest the world economy collapses, forces the rest of the planet to support American military adventures.

For nearly a century, the American oligarchy has taken ethical short cuts to enrich itself at the expense of everyone else. Under the cover of "DEREGULATION", that very small minority, mostly based in the USA physically and philosophically, has set up special "industries" to steal as much as it could from commoners [American for-profit health care is an example, it kills dozens of thousands of Americans every year; even putting people in jail has been made into a for-profit industry, so has been credit ratings]. This small minority of "the best and the brightest" has stolen so much of the world capital, that not enough has been left for the rest of the world economy to function. As simple as that.

It is time for serious intellectual leadership for this planet. It will not come from a country that is unable to rise its energy taxes [the only highly effective proximal measure to reduce CO2 emissions.]

The color of the face may have changed, but not the color of money.

[Full post on that subject on the site below.]

Patrice Ayme

http://patriceayme.wordpress.com/