Comments on: The Institute for Economic Democracy blog

By: jwsmith

jwsmith — Thu, 07 Aug 2008 17:55:35 +0000

Dear Espin,
Thank you for your kind comments. But the problem is far bigger than the impoverished you noticed we have in America. A large share of the wealth consumed and flaunted by the middle class and wealthy was stolen from resources wealthy nations like yours (New Guinea) through Plunder by Trade. Eliminate the wealth we steal from countries like yours and America and Europe would shrink to its aristocratic structure, a few massively wealthy and the rest in poverty, from which it never successfully evolved out of. Always remember, all wealth is processed from resources, most the world’s resources are in your countries, not within the imperial centers of capital,and if you took control of your resources and your destiny it would be you who are wealthy and the former imperial centers would be dependent upon you just as you are dependent upon them now. Our website tells that story. Thank you again. J.W. Smith

By: espin

espin — Tue, 05 Aug 2008 05:11:42 +0000

I like your piece on the sub-prime debacle and the troubles of Fannie Mae and Freddie Mac. I also watched a video from Information Clearing House on the long line of Americans queuing up for medical treatment. A middle-aged woman confessed that she was waiting from 4.30 am till 8.30 pm when she had to leave to catch the last bus home before receiving treatment. I thought this only happens in poor developing countries like Papua New Guinea (PNG) where I come from, but it’s unbelievable it’s happening in America. I read widely and know that the US government gives billions of dollars in subsidies to rich corporations like Wal-Mart, Boeing, Lockheed Martin etc, but should I believe that it doesn’t have money to provide medical insurance or deliver adequate health services to its own people? And why in the world would the richest and most powerful nation on earth allow some bankers and financial speculators to trap its citizens in never-ending debt-traps; credit card debts, mortgage debts, car debts, etc? I find it absurd that US leaders are consulting the very bank executives who were responsible for causing the sub-prime crisis in the first place with their risky loans to be advising the US government on how to remedy the mess they created. If that is the kind of economic system the US is preaching to developing countries, where the rich is rewarded for their destructive greed, and economic crimes, and the poor is robbed and trapped in debts, then developing countries would do well to check and think again. Or what do the American economists and politicians think about their economic system? I’m not very sophisticated since I’m a Stone Age person living in this Information Age, but as far as I can see, the US economy and the economic policies the “enlightened” and “developed” world is promoting and enticing developing countries like to follow is dangerous and destructive. Something must be done urgently to avert global economic catastrophe.

By: nick

nick — Wed, 02 Jul 2008 13:37:49 +0000

It’ll take a bit of time, and also inviting your friends to post meaningful stuff.

By: John

John — Wed, 18 Jun 2008 03:43:54 +0000

Congratulations on the redesign. I was just browsing the site and saw it change from the old design to the new one! Very nice indeed. I hope this blog works out. I am sure it will keep you all busy.