Friday, March 20, 2009


With the U.S. economy in shambles, record budget deficits, and the wholesale looting of taxpayer money by the financial sector it dawned on me that what's happening here would not be tolerated by the U.S. in other parts of the world.

Anyone familiar with the history of economic development knows that when countries start running large budget and balance of trade deficits, and then experience the type of meltdown we are experiencing, that the U.S. and its Western allies have arrived to impose "structural adjustment reforms" on the country that has lost its way economically. This usually means draconian budget cuts, imposed policies, and forced financial terms.

In the past - using the U.S. Embassy as its base to direct events - the U.S. has even forced unwanted leaders from power. With this in mind, after being asked about developments in the U.S., Chile's President Michelle Bachelet joked:

The reason why in the United States there has never been a coup d'etat is because in the United States there is no United States embassy.
Keep in mind that this is from the president of Chile, one of two nations in Latin America that tries to do what we ask of them (Colombia is the other, but doesn't really count because we stuff them with arms and money for their war on drugs). President Obama has a lot of work in front of him.

- Mark

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