REFLECTIONS BY COMRADE FIDEL
THE FINANCIAL IKE
There is no waste in today’s afternoon news:
“Bush cancelled all his
activities. He intended to travel to
“He said on Thursday that he
was worried about the financial markets and the
“Markets have plummeted” –cables continue to read-, “the government was forced to nationalize the giant insurance company American International Group (AIG); and the Federal Reserve, in a coordinated action with other central banks, have injected 180 billion dollars into the financial markets.”
“The president reaffirmed that his government is taking aggressive and extraordinary measures ‘to appease the markets.’”
“Authorities all over
“He also felt sorry about the
situation facing the big banks in the
“There is a crisis in the
“It is not that we are not
He concluded by saying: “I see with certain sadness that important
banks, very important banks, which had spent their whole life giving advise about
The hurricane winds of the
financial Ike are also threatening all “provinces” of the world. The weather forecast is uncertain; people
have been speaking about it for weeks now, and gusts of more than
As Rubiera would say, its devastating power squares from one category into the next.
It is very difficult to closely follow and understand the very high figures of fresh money injected into the world’s economy. Those are huge volumes of paper money leading inevitably to a decline in its value and purchasing power.
The increase in prices is inevitable in consumption societies and also disastrous for the emerging countries, as was pointed out by Lula da Silva. If the biggest importer in the world stops to import, this will affect the rest; if it goes out ready to face competition, this will affect all other producers.
The big banks from the
developed countries emulate and try to establish coordinations with the banks
Fiscal heavens are thriving; peoples are suffering. Could humankind’s well-being be guaranteed this way?
Fidel Castro Ruz
September 18, 2008