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#1 (permalink) | |
Junkie
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So why won't Bush abolish African debt?
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Note that original article includes links to several references. So, what I can't understand is why Bush would not support Blair and Brown's initiative to abolish African debt. What has the US to lose? Virtually nothing. What has it to gain? The thanks of millions of Africans and African leaders, much international kudos, international public opinion... to list just a few. I'm Bush is a religious man; and a man who believes he is "righteous". So why can't he agree to this simple step that would hardly damage the US economy, but would make a world of difference to hundreds of millions of people? Mr Mephisto |
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#2 (permalink) |
Getting it.
Super Moderator
Location: Lion City
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The only reason I see for *not* abolishing the debt and giving more aid is that many of the countries in Africa are run by corrupt despots who have been diverting aid money (whether they are loans or not) to their own coffers for years (a large amount of the money raised by LiveAid went to feed and equip the Ethiopian army rather than the starving people; The Democratic Repoublic of the Congo -- formerly Zaire -- has about 5 billion in debt but in the years that they have accumulated this debt their leader has amassed a personal fortune equal to about 4 billion... these are just two examples amongst many).
Abolishing the debt is just one side of the equation. The other side is responsible, democratic governments (with emphasis on responsible).
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"My hands are on fire. Hands are on fire. Ain't got no more time for all you charlatans and liars." - Old Man Luedecke |
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#3 (permalink) | ||
Addict
Location: Mansion by day/Secret Lair by night
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I have mixed feelings about this....
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I do believe in eliminating Third World debt, but we also have a lot of problems here and dropping agriculture trade barriers with a continent so large, and so poor would be a nightmare for our farmers. If anything we need to increase our agriculture to replace some of the manufacturing we have lost. Instead of abolishing all of the debt, what if we were to wipe half away, put a 10-year interest free moratorium on the other half, and then keeping that debt on the books we invest the same amount into infrastructure development for Africa that only American contractors can bid on?? It's charitable, fair, and sends a message to Americans that our debt and rising unemployment is a priority as well.
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Oft expectation fails... and most oft there Where most it promises - Shakespeare, W. |
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#4 (permalink) |
Junkie
Location: Indiana
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I think this is a horrible idea. When are we going to stop with foreign aid. It's not our job to bail out every country. We already give out more money than any other country if I remember correctly.
Take a look at this thread to see how asuming debt is the root of our economic troubles in the US and it's only getting worse. |
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#5 (permalink) | |
Addict
Location: Mansion by day/Secret Lair by night
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1) What is the likelihood we would see that money in our lifetimes anyway? Much of this debt was written off a long time ago. It becomes a game of politics. - That doesn't make it right, just reality. 2) By helping build a little bit of infrastructure (roads, bridges, schools) we give them the tools to become a productive trading partner of products or food that can be cheaper or possibly bartered with excess food (wheat, grains) we would have destroyed anyway. 3) This is classic "teach a man to fish vs. give a man a fish" A little today could avoid a much worse situation tomorrow. I know that the people who we can't even sell on the need for basic healthcare in the US are laughing at the idea of this right now. But the economy and free trade requires that you feed it a bit to open new markets that will in turn feed you. Why do we require the military to spread the ideas of democracy and capitalism? ![]()
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Oft expectation fails... and most oft there Where most it promises - Shakespeare, W. |
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#6 (permalink) |
Junkie
Location: Pats country
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Yeah, i was thinking about this whole situation the other day, the "war on terror" which up to this point has been fairly unsuccessful, even by most republican's standards has cost something over $350 billion, while Bush seems unwilling to give even 700 million to an entire continent.
Charlatan brings up a very salient point, that whoever gives money/abolishes debt needs to be aware of where exactly the money goes, and frankly I think that having some US or UN oversight to ensure that the money is properly allocated would be a good thing. Stepping outside the "building goodwill" political arena for a second, many of these countries desperately need assistance and regardless of the politics helping them just seems to be the right thing to do (IMHO). I hope that the rest of Europe also steps in with aid (like Belgium, for instance, since they nearly destroyed Rwanda).
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"Religion is the one area of our discourse in which it is considered noble to pretend to be certain about things no human being could possibly be certain about" --Sam Harris |
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#7 (permalink) | |
Rail Baron
Location: Tallyfla
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![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() /checking pants //still dry
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"If I am such a genius why am I drunk, lost in the desert, with a bullet in my ass?" -Otto Mannkusser |
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#8 (permalink) | |
Junkie
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1) Not much to dispute here-there's little chance of this money being repaid anyway, so it is mostly politics. 2) By creating a trading "partner" we are helping develop competition which will yet again undercut our manufacturing as another continent will be open for extremely cheap labor. 3) If any monies we gave came with advice, it would be denounced in the world, not only by other contries, but by those who recieve aid themselves. We would be seen as buying influence. Also, oftentimes a benefactor grows to be resented by the one(s) who are the beneficiaries of goodwill. And there is no way to ensure that the aid given would go toward the intended purposes, or that any respectable democracies would take hold. Look above for examples of humanitarian aid diverted into the personal bank accounts of despots. Or look at the recent Oil for Food fiasco. And again, there would be a low chance of actually gaining a trade partner, it would most likely be another China/India/Indonesia etc. where people are exploited for cheap labor to fuel the gains of the government. By simply giving aid we have no way to ensure that these countries would abide by any minimum work standards. I think it's human nature more than anything else that makes a military necessary for the export of democracy. Dictatorships are often present only due to force, it takes a greater force to get those organizations out of power. Because without the threat, there is no viable reason for any autocracy to spontaneously disband. |
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#9 (permalink) | |
Junkie
Location: Right here
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I don't understand how your statement results in opposition to the elimination of public debt. It seems to speak to the opposite conclusion: despots have taken aid money and enriched themselves with it. Yet, we still require the aid money to be repaid by the public even after those despots have been overthrown (or still exist). Either way, the public is paying back money certain persons have stolen. How do you conclude that is proper? Why should we not dispense with debt incurred from corruption if the public purges the corrupt official?
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"The theory of a free press is that truth will emerge from free discussion, not that it will be presented perfectly and instantly in any one account." -- Walter Lippmann "You measure democracy by the freedom it gives its dissidents, not the freedom it gives its assimilated conformists." -- Abbie Hoffman |
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Tags |
abolish, african, bush, debt |
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