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G8

Its xmas – borrow 3000 euros!

It will come as no surprise to any living soul on this planet that not only is poverty not history, the likelihood of it ever being so is probably less now than 10 years ago.  The only thing that HAS  been made history is all that Geldof/Bono/G8 crap of 6 months ago. Somebody made millions out of all those plastic white bands – what happened to that money?   If you have one I suggest you burn it and burn it quick.  On second thoughts better not burn it as it is probably full of toxic fumes and non-biodegradable thus not only was it a waste it is also an environmental hazard.   Looking at the site they even tell you how to wear it – talk about spoon feeding the masses.

Gary Younge writing in Monday’s Guardian states

"Between them the US, EU & multinationals will  conspire to either abandon the poorest nations to the fate of the market or entrench them in poverty while denying them valuable market access to the West own vulnerable sectors" and that pretty much sums up the whole globalisation/trade/aid game that is being once again played out this time in Hong Kong."

All this is taking place on the eve of a billion dollar consuming extravaganza that will last for the next two weeks,  in West at least. The multinationals with be rubbing their hands in glee as they rack up windfall profits!  I saw an advertisement to day in Granada which said  "its Christmas, borrow 3000 euros" – thats was it plus a phone number – sickening!

No  I don’t have the  answers – this is just another rant. But I am thinking about it!

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5 Comments

  1. The multinationals racking up “windfall profits” are responsible for the creation of thousands of jobs. If they weren’t racking up profits, the people working for them probably won’t be able to earn a living to support their families. So I don’t think we ought to demonize them.

  2. Well thats fine if you are happy to spend on their behalf and become one of the millions across the world who are in debt to the tune of thousands – The employment to debt ratio is weighted to their interest not yours. Who benefits from borrowing 3000 euros? So by employing me that gives you the right to exploit my labour by paying me a pittance in return for your profit. Allows you access to my resources at such a low price that your profits are out of all proportion and I am still living in poverty, pollute my land, overfish my waters… the list goes on.

  3. JKE

    But I take it that such an advertisment is especially possible in countries like Spain where the festivities have a higher value than in the rest of europe. That is, ppl there are much more willing to borrow 3k,- in order to celebrate xmas. Or?

  4. Well I am not sure. This is my third xmas in Spain but the first in a city. When I lived outside a small village there was very little visible xmas festivities and no comercialism – xmas was simply about families getting together etc.

    Here in the city it seems to be very different. However I do know that the Spainish are very heavy borrowers probably because Spain is in the middle of an economic boom and people feel relatively affluent compared to say 5,10 years ago. My Spanish friends tell me that it is very easy to get credit including mortgages even for foreigners – though the costs are quite high.

  5. In a highly advanced society, everyone is in debt. The consumers are in debt, the corporation is in debt, the government is in debt. The debt is what forces people to get off their asses in the morning and go to work.