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Bush promises $5bn aid to combat global poverty
Financial Times ^
| Published: March 14 2002 22:13 | Last Updated: March 15 2002 08:23
| Alan Beattie
Posted on 03/16/2002 9:06:11 PM PST by It'salmosttolate
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To: It'salmosttolate
Another $5 billion on top of the $4,000+ billion we have already spent. Yeah, money is the problem: The lazy SOBs sucking off the rest of us don't want to earn any for themselves!
To: It'salmosttolate
$5 billion over 3-5 years...hhmmm... sounds like a PR stunt with those low ball numbers. LOL, lets my the third world tic-tacs!!
3
posted on
03/16/2002 9:35:13 PM PST
by
GeronL
To: It'salmosttolate; Grampa Dave
Globalism marches on. The subsidization of bad bank loans by the taxpayers disguised as charity. Wouldn't want the countries to default - the banks would have to take a cut in their profits. Funny, Americans don't get a subsidy when they go bankrupt.
It all sounds like fancy bank automatic payment withdrawal system - what the heck is that called anyway?
4
posted on
03/16/2002 9:36:30 PM PST
by
Shermy
To: It'salmosttolate
Spending more money to "combat global poverty" is a fool's errand. The single biggest problem preventing the creation of wealth in most of the world is the lack of the social and legal infrastructure that allows for the creation and protection of private wealth.
For example, the way that most people create wealth for themselves in first world countries is by purchasing and then improving a house. Over time the house (hopefully) appreciates, then it can be sold and the proceeds used to purchase a new (and hopefully nicer) home. We take that kind of transaction for granted here in the first world. But in the third world the simple act of establishing a title deed on any given piece of property is virtually impossible. Hence, any improvement that is going to be done upon said property is doomed to be very limited, since whoever is considering improving the property knows that they will not be able to either sell it or defend it against anyone who tries to take it from them.
Until the third world nations that demand our wealth and our standards of living develop the social and legal infrastructure needed to promote the creation of wealth and the protection of wealth, they will simply never have any wealth. Not for lack of resources or the willingness to produce, but for lack of the basic social and legal infrastructure that allows resources and efforts to take hold and grow into wealth.
To: It'salmosttolate
5 billion here....5 billion there....pretty soon, you are talking about real money.
6
posted on
03/16/2002 9:50:41 PM PST
by
Feiny
To: Billy_bob_bob
Well,the small handful of leaders of those so called third world countries can start building their villas, and ordering their new bulletproof Rolls Royces.
To: It'salmosttolate
Isn't it wonderful how our president gives our money away as if it were his own private bank acount?
To: It'salmosttolate
The War On Poverty has been a dismal failure here and now we're going to extrapolate that failure globally. What a great idea...and it sounds so good too. Does this have implications for Monterrey next week?
To: It'salmosttolate
Most rich countries still fall well short of the United Nations' target of 0.7 per cent of national income in aidThat line explains the entire article.....
To: It'salmosttolate
Bush promises $5bn aid to combat global povertyTranslation: Bush sinks another $5bn in botomless barrel forcing US taxpayer to slave 6 months of the year to support domestic and international bums.
To: Askel5
To: It'salmosttolate
And we thought LBJ had delusions of grandeur with his war on poverty in the US...W wants to throw our hard earned money at GLOBAL poverty. He's sounding more like a liberal every day!
13
posted on
03/19/2002 7:47:25 PM PST
by
pgkdan
To: pgkdan
As Bush sends BILLIONS to other countries, our own American poor, are forced to compete with the endless lines of illegal aliens that continue to flow into our country.
To: Joe Hadenuf
"Most rich countries still fall well short of the United Nations' target of 0.7 per cent of national income in aid." -- article The US GNP is about 4.5 Trillion dollars; $4,500,000,000,000,000 and the UN expects .7%? So that is .007 X $4,500,000,000,000,000 = $315,000,000,000 (315 Billion dollars).
I say, come and get it.
15
posted on
03/19/2002 8:08:34 PM PST
by
Buckeroo
To: Joe Hadenuf
As Bush sends BILLIONS to other countries, our own American poor, are forced to compete with the endless lines of illegal aliens that continue to flow into our country. Worse yet...hard working tax payers have their taxes confiscated by a gov't intent on rewarding illegals with our tax dollars and they cheapen our citizenship by giving it away to any common liar who stole his way into this country.
16
posted on
03/19/2002 8:11:26 PM PST
by
pgkdan
To: Uncle Bill
The initiative signals a US desire to balance its war against terrorism with an attack on the conditions that nurture it. Yeah you rite. Roots of Soviet Terror
Rather, in addition to protection money earmarked "Redistribution", he's just ponying up the cash necessary to ensure the entire world's got the "healthcare mechanisms" for which his daddy fought so hard during the "War on Poverty" re-formations of extra-Constitutional social security legislation and Title X debates.
Most important is that legislation be recognized as ...
a health-care service mechanism <
and not a population control mechanism.
Rep. George Bush, 1970
17
posted on
03/19/2002 9:22:26 PM PST
by
Askel5
To: Askel5
A Jorge W. Bush redistribution one world government bump!
To: Joe Hadenuf
As Bush sends BILLIONS to other countries, our own American poor, are forced to compete with the endless lines of illegal aliens that continue to flow into our country.While the global corporations make huge profits on initiatives in other countries from our consumption, the American (and now other well-off countries) taxpayers will subsidize the people in those countries.
Sounds like we'll be paying three times: competition for jobs will keep wages down, profits on our consumption will feed the bottom line of corporations, and our taxes will subsidize compliant foreign governments and populations.
globalism works just fine...if you're a CEO of an international corporation
19
posted on
03/21/2002 3:44:16 AM PST
by
grania
To: Donald Stone
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