Friday, September 04, 2009

Sounds Familiar

I read something in "Black Voices" that sounded kind of familiar.

"Gabon was once a wealthy African nation due to the oil boom in the 1980s and the country's relatively low population (nearly 1.5 million people). But like many African nations, it succumbed to the temptation of foreign loans from the World Bank and the International Monetary Fund. Nowadays, Gabon has joined a long list of African nations experiencing foreign exploitation because of financial misappropriation and dependency on foreign aid."

Taking loans leads to poverty, especially when the money is not appropriated justly (misappropriated). Hmmmm. Sounds kind of like what they are doing here. Looting the population with all of this public debt and bailouts of banks. The insiders loot the country by running up the nation's credit card and then leave us to pay the tab.


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