No!!! Never!!!
Then……………………..
Then……………………..
$700,000,000,000 for what?
First, it was the shock. Then it began to sink in. Then it came to anger.
In a little over a week the American people first heard of, then digested and are now grappling with the worst financial crisis since the Great Depression of the 1930s and with the Bush administration’s demand that they hand over $700 billion of their hard-earned tax dollars to bail out Wall Street. The Bush administration has proposed a massive bailout plan of at least $700 billion (maybe as much as $1.7 trillion) to stabilize the financial system amid the biggest economic crisis since the Great Depression. Treasury Secretary Henry Paulson, a Bush appointee, and the President are pushing for Congress to rapidly pass the plan this week with little debate and no amendments. The right wing and the banks want a plan that gives a blank check to Wall Street with no oversight.
The full extent of the current crisis and its impact on working people cannot now be fully comprehended, but the crisis is deep and cannot be easily resolved is apparent. Furthermore, the criteria for any plan to solve the crisis must be what’s good for the working people of United States of America and the world, not what’s good for the mega-rich and massive monopolies that got ordinary American into this mess.
If comments of people on the street here are any indication, there is deep resentment about having to trade, as New York Times columnist Paul Krugman put it, “cash for trash.”
John Sweeney, president of the American Federation of Labour-Congress of Industrial Organasations, the nation’s largest labour federation, said last week, that the American people were faced with the choice of committing more than a trillion dollars of public money to rescue the financial system, or facing a complete collapse of the credit markets, and all the economic activity that relied on credit. He further voiced his doubts as to how the programme would be implemented? “Would we finally help the millions of Americans losing their jobs, their homes, their health insurance and their pensions? Or would this be another bailout without conditions, leaving Main Street in crisis and guaranteeing that Wall Street’s crisis will continue in another form?”
Permanent solutions can only be found, Sweeney said, “in the economic programme of re-regulation of the financial markets, a government focused on creating good jobs by investing in infrastructure and solutions to the energy crisis, health care for all Americans, a government that will protect and improve Americans’ retirement security and a guarantee that American workers can bargain for their fair share of the wealth they create.”
Developments are evolving fast and their full impact has yet to be felt, but let’s make sure that American workers, those who made their country rich, do not further suffer at the expense of the financial elites, those who have created this crisis. Working people of America Slogan is “Save Main Street not Wall Street!”
So what?
We Indians are in no way affected by this crisis!!!
Is it so?
Our GDP is so Strong!!
Our Growth rate is so excellent!!!
Our Potential is so rampant!!!!
All Jingoistic Slogans will sustain.
What is the reality?
Rate of Inflation is 12.5%
78 per cent of Indian people just about manage to survive on less than Rs 20 a day
Beware!!!
Our pension funds are to be invested in Dalal Street!!!
Do Not Forget….
Already Workers' Provident Fund Amounts have been gifted to Corporates!!!
The trustees of the Employees Provident Fund at the behest of the Central government (tainted Manmohan Singh Government) have handed over huge amounts of workers Provident Fund contributions to Finance companies for speculative purposes. By this decision around Rs 2, 40,000 crore in the corpus fund and another Rs 30,000 crore of the annual incremental fund will be literally gifted to the Corporates.
The Character of Dalals is similar in nature whether in United States of America or in India. Here also the time is not far that we may also coin the similar slogan.
“Save Main Street not Dalal Street!”
Beware of these polices
Prepare for the struggle.
Permanent solutions can only be found, Sweeney said, “in the economic programme of re-regulation of the financial markets, a government focused on creating good jobs by investing in infrastructure and solutions to the energy crisis, health care for all Americans, a government that will protect and improve Americans’ retirement security and a guarantee that American workers can bargain for their fair share of the wealth they create.”
Developments are evolving fast and their full impact has yet to be felt, but let’s make sure that American workers, those who made their country rich, do not further suffer at the expense of the financial elites, those who have created this crisis. Working people of America Slogan is “Save Main Street not Wall Street!”
So what?
We Indians are in no way affected by this crisis!!!
Is it so?
Our GDP is so Strong!!
Our Growth rate is so excellent!!!
Our Potential is so rampant!!!!
All Jingoistic Slogans will sustain.
What is the reality?
Rate of Inflation is 12.5%
78 per cent of Indian people just about manage to survive on less than Rs 20 a day
Beware!!!
Our pension funds are to be invested in Dalal Street!!!
Do Not Forget….
Already Workers' Provident Fund Amounts have been gifted to Corporates!!!
The trustees of the Employees Provident Fund at the behest of the Central government (tainted Manmohan Singh Government) have handed over huge amounts of workers Provident Fund contributions to Finance companies for speculative purposes. By this decision around Rs 2, 40,000 crore in the corpus fund and another Rs 30,000 crore of the annual incremental fund will be literally gifted to the Corporates.
The Character of Dalals is similar in nature whether in United States of America or in India. Here also the time is not far that we may also coin the similar slogan.
“Save Main Street not Dalal Street!”
Beware of these polices
Prepare for the struggle.
Prevent such disaster
