G20 Summit a Lulu

Within one week of leftist Brazilian president Luiz “Lula” Inacio da Silva declaring that the world financial crisis was caused by “white people with blue eyes”, Silva was wining and dining in London at the G20 conference and signing on to the plan under which his impoverished nation, which is 50% black, can be given wealth created in the industrialized countries.


Here are excerpts from the New Internationalist website about Silva’s Brazil:


Almost half of Brazilian blacks take home less than the minimum wage of $80 a month; a larger proportion of black women take home less. Even when they do have the training and experience for better paid work, the dice is loaded against black people.


Only a handful of the 503 members of Congress are black; two out of 23 state governors are black; there are no black ambassadors. And the only Afro-Brazilians you see in Brasilia‘s government buildings are serving coffee, mopping floors or chauffeuring around white Brazilian bureaucrats.


Indeed, black activists say that mass sterilization campaigns run by private groups in Brazil target Afro-Brazilian women precisely for this reason. When South African black leader Nelson Mandela visited recently he was handed a document claiming that 20 million black Brazilian women have been sterilized.


So perhaps Silva could look at his own nation’s racial woes and economic disparities before striking out at America. And perhaps the world media could call him out for his outlandish statements. But they won’t.


Interestingly, Silva never mentioned that the “white people” who indeed did cause the US crisis were socialists. Then again he probably would not be much interested in identifying people like Christopher Dodd, Barney Frank, Bernard Madoff, Robert Rubin or all the other Democrats in America who are up to their necks in this recession.


That a leader like Silva can make a bigoted statement and then be embraced among the world elite shows that indeed we are in the throes of the new socialist order. This London confab and its leftist chroniclers are largely prejudiced against the West and everything it stands for. Meanwhile the rest of the world will wait with its hand out to get some of the wealth that the West has created through the technological innovations of “white people with blue eyes” like Henry Ford, Andrew Carnegie, Nikola Tesla, Bill Gates, Thomas Watson, Cornelius Vanderbilt and a few hundred others whose ideas, motivations and intelligence have built the modern world.


The media have been slavish to make Obama look good in London, continuing their job of covering up for him in the 2008 campaign – his links to the radical ACORN group, his anti-white statements in his autobiography, his ties to William Ayers. And when Obama gave the Queen a cheap I-Pod, don’t you think the media might have picked up on that gaffe or on Michelle Obama clumsilyy manhandling the Queen when the rule is hands off? When George Bush winked at the Queen in an obvious piece of theater, the world media threw a fit.


No, when Obama speaks, the media kneel. Actually, Obama bowed to the King of Saudi Arabia, which is a sign of submission only for the king’s subjects. Perhaps it is a sign that America is ready to submit to the world rather than lead it, as Obama started to do in London, including to egalitarian Brazil and its big-mouth president.


The G20 summit actually is pledging some good policies, and some bad:


*A dramatic increase in the funding for the IMF by $500 billion to $750 billion. Japan agreed to provide $100 billion of the extra funding, the European Union $100 billion and China about $40 billion. Comment: Note to Silva: Industrialized nations powered by EuroAmerican technology will give all the money.


*A crackdown on pay and bonuses for bankers making “risky” decisions. Comment: One man’s risk is another man’s growth opportunity. This ‘crackdown’ has the potential to create a risk-averse world which will thwart economic development. All growth is based on risk/reward. Risk-averse systems like communism produce destitution.


*Countries must provide information to foreign tax authorities to help catch potential tax evaders. Comment: This is a global tax police which will be like a worldwide Internal Revenue Service. This is frightening. The countries showing the strongest growth are moving to lower tax rates, flat-tax collection systems and other less intrusive structures.


*Each nation must dispose of bad assets, either by setting up ‘bad’ banks or by insuring the assets. Comment: The new mark-to-market rules being promoted in the US by the Financial Accounting Standards Board is a conservative capitalist idea that is addressing this issue without international consensus by offering a more sensible way to value assets in the first place. It is just common sense. We are way ahead of the G20.


*The G20 establishes a 12-month freeze on introducing any new trade barriers. Comment: Free trade is a purely capitalist idea, opposed by global socialists who are protectionists. It is an excellent idea and a sign that all is not lost in the internationalist movement.


*The summit agreed to turn the existing Financial Stability Forum regulatory body into a more proactive global banking overseer. Comment: Global regulation means global socialism ruled over by international bureaucrats like the United Nations and the World Court. This will kill world growth if it becomes strong and entrenched.


*Global leaders agreed to provide $250 billion in new trade credit guarantees to get trade re-started. The guarantees are to be offered by institutions like the World Bank. Comment: Finally the world has learned, after the disaster of the 20th century, that Western conservative capitalism and technology, married to free trade, is the only way out of this slump and any other slump.


It is good to see some common sense on world growth from this summit. And to look at the growth rates in the world over the past 20 years, it is easy to see that socialist nations like those in Europe have stagnant economies and capitalist nations are leading the world.


So which is better for Silva’s impoverished Brazil…and the rest of the world?


The answer is obvious.


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