The World’s Financial Crisis!!
Or more commonly known as “Financial Déjà Vu”!!
By Dr. Mehenou Amouzou
History is repeating itself with a human desire to control or rule the world by any
means. This obsession has created three categories of human beings: One that has
chosen the route to rule, one that has chosen the role of servant and a third that
considers themselves to be subordinate to all other humans.
For many centuries the world has been and continues to support the aspects
mentioned above by the actions of its Governments and their failing policies to
sustain the well being of its citizens. To conceal the failure of their policies,
Governments have become more and more aggressive via using military powers
and or financing muscle to intimidate, oppress and take over other less able
countries.
From the past several centuries to 1884 in Berlin where European countries had
decided to take over Africa and colonized the Africa continent to the war world I, war
world II, Vietnam War, Korean War, Chinese revolution, all the proxy wars etc; to
present. We are still facing the same scenario; the greed power hunger of few
people to add to government’s economic & social policies failures to hide behind the
wars and develop an imperialism approach due to three categories of humans
being: One that is selected to rule, second to serve and the third is considered like to
be less human. The World War I killed more than 37 million people and other
causalities; the World War II killed 85 million and with other casualties.
European Economy between 1850 and 1884
For a time the European trade balance has shown a growing deficit, with shrinking
exports and continental markets becoming increasingly protectionist because of the
recession. Britain, Germany, France and other industrial countries thought the
African continent to be an “uncivilized, barbarian continent” and open market for
their trades’ surplus. Britain, with other European countries, had extensively
commenced to run deficit balance of trade (which was more and more offset, on the
other hand, by the oversea revenue). Still today most of Europe continues to take
the stance that “we can import as much as we need and build and create nothing”Oh dear!! Until someone eventually asks-"How do we pay for that??” Simple
economics-you must generate more revenue than expenditure!!!!
As a result of an increased problem between European countries during the late
19th century, the partitioning of Africa may have been seen as a way for the
Europeans to eliminate the war in Europe over Africa.
Britain became the first post-industrial nation in the world; the financial services
sector became increasingly important to its economy. Invisible financial exports keep
Britain in the red, especially investments outside Europe, particularly in the
developing and open markets in Africa as colonies of white settlement in the Middle
East, Asia South and Southeast prevailed.
Additionally, extra funds were time and again more beneficially invested overseas, in
inexpensive materials, limited competition, and plentiful raw resources which made
greater the best that was promised. A further encouragement for imperialism
occurred from the need for natural resources that were not accessible in Europe,
particularly copper, cotton, rubber, palm oil, cocoa, diamonds, tea, and tin, to which
European customers had become familiar and upon which European industry had
become dependent, the outdated industrial so called power house countries were
damaging and were facing mounting resistance from other industrializing nations,
comparable to Germany, who had newer plants and cheap labor.
Furthermore, Britain wished to retain the southern and eastern coastlines of Africa
for harbor stopover on the way to Asia and its territories in India. The invasion,
occupation, colonization, and annexation of African territory by European powers
during the era of New Imperialism exploration between 1881 and World War I,
(1914) had met some refusal in acceptance to becoming colonized. By way of the
military supremacy, the Europeans were expecting to succeed, with the exception of
Ethiopia and Liberia who remained independents, merely 10% of Africa was
surrendered in 1870 and 90% by 1914.
The African imperialism expedition and domination started at the Berlin convention
in 1884, European decided the partition and took possession of Africa and its natural
resources, consequent to the economic, political, stayed away from warring and
competition between themselves.
Wars World I
World War I was a disaster, tragedy on all fronts and destroyed humanity for nothing
more that the goal of imperialism, nationalism, domination, being a war mogul,
exercising economic prowess. The ongoing endeavors of nationalism had created
other issues also such as the unification of Italy and especially Germany power,
Germany rose as a military, political and economic giant.
The Industrial Revolution through Europe after 1850 had created consumer markets
available for businesses to explore. It had grown the number of producers
competing for those markets, triggering more competition for what was considered a
stagnant economy by the turn of the century. The competition intensified in each
country with fierce nationalistic feelings fostered by an expanding public schooling
that preached its nation's superiority over other nations and the dangers other
nations posed. For example, Britain thought that it was the country’s obligation to
“enlighten” barbaric or savage customs in Africa and Asia, Russia also exercised
cultural motivations to validate its heaviness on the Balkans and Austria in the early
twentieth century. The Russian Czar Nicholas II desired to follow what was identified
“pan-Slavism” or an effort to bring together all Slavic-speaking population under the
direction of the Czar. They would use of defensive levies (import taxes) to raise the
cost of foreign goods and make the home nation's goods likewise more interesting to
its customers. Obviously, other nations did the same thing. Prices went up,
commerce deteriorated, and unemployment rose, producing internal disorder and
instability. As consequence, politicians looked for scapegoats and opportunely held
responsible other nations. This led to more tariffs, lower trade, rising unemployment,
unrest, blame, and so on.
This industrial revolution had developed new technologies which were not restrained
to just peaceful consumer ends, but the building of new and enhanced weapons
such as guns, marine vessels, and steel clad battleships. All this mixed with
nationalist pride and an internal domestic worry about another nations ability to
compete in an arms race like the world had never seen, this in association with an
insatiable appetite for a/many countries desire to increase its wealth via the needs to
grab someone else’s via military means. As soon as one nation started building
armaments, its competitors would do the same and try to outdo the first nation. This
would only alarm the first power, which would further increase its armaments, and so
on. Each nation acted in what it felt and considered was self-defense, but to another
nation this saw seen as an act of aggression.
Did World War I generate a key advantageous break in the United States? Did the
U.S. financial system transform in some fundamental and durable ways as
consequence of that war? The U.S. economy was in depression when the war
started, the access of the US into war in 1917 let loose substantial US federal
expenditure which changed national fabrication from civilians to war good. They
were 3 millions of workers added up to the military complex and Five hundred
thousand to the administration jobs from 1914 to 1918. The job loss dropped from
7.9 percent to 1.4 percent because of the manufacturing jobs creation. Europeans
started to procure U.S. supplies for the war and later the United States itself enrolled
in the combat.
According to Hugh Rockoff research associate at NBER, estimates the complete
cost of World War I to the United States was roughly speaking $32 billion, or 52
percent of gross national product at the time. He rundown the financial support of
the U.S. war attempt as result: 22 percent in taxes, 58 percent through borrowings
from the public, and 20 percent in money creation. The War Revenue Act of 1917
taxed "surplus profits" -- profits greater than an amount established by the rate of
return on capital in a base period by some 20 to 60 percent, and the tax rate on
income starting at $50,000 rose from 1.5 percent in 1913-15 to more than 18
percent in 1918.
WWI CASULTIES AND DEATH TABLES
One approach to comprehend the bloodshed and massacre that took place in the
Great War is to scrutinize the number of fatalities and deaths. Accurate numbers are
still in disagreement, because of diverse definitions used by each group as well as the
problematic meticulousness of the recording system used and the loss or destruction
of a number of official documents. The statistics in the tables below indicate
information from several sources and are consistent with most experts' current
estimates.
Country
Total
Mobilized
Forces
Killed
Wounded
Prisoners
and
Missing
Total
Casualties
Casualties
as % of
Forces
ALLIED AND ASSOCIATED POWERS
Russia
12,000,000
1,700,000
4,950,000
2,500,000
9,150,000
76.3
British
Empire
8,904,467
908,371
2,090,212
191,652
3,190,235
35.8
France
8,410,000
1,357,800
4,266,000
537,000
6,160,800
73.3
Italy
5,615,000
650,000
947,000
600,000
2,197,000
39.1
United
States
4,355,000
116,516
204,002
4,500
323,018
7.1
Japan
800,000
300
907
3
1,210
0.2
Romania
750,000
335,706
120,000
80,000
535,706
71.4
Serbia
707,343
45,000
133,148
152,958
331,106
46.8
Belgium
267,000
13,716
44,686
34,659
93,061
34.9
Greece
230,000
5,000
21,000
1,000
27,000
11.7
Portugal
100,000
7,222
13,751
12,318
33,291
33.3
50,000
3,000
10,000
7,000
20,000
40.0
42,188,810
5,142,631
12,800,706
4,121,090
22,062,427
52.3
Montenegro
TOTAL
ALLIED AND ASSOCIATED POWERS
Germany
11,000,000
1,773,700
4,216,058
1,152,800
7,142,558
64.9
AustriaHungary
7,800,000
1,200,000
3,620,000
2,200,000
7,020,000
90.0
Turkey
2,850,000
325,000
400,000
250,000
975,000
34.2
Bulgaria
1,200,000
87,500
152,390
27,029
266,919
22.2
TOTAL
22,850,000
3,386,200
8,388,448
3,629,829
15,404,477
67.4
GRAND
TOTAL
65,038,810
8,528,831
21,189,154
7,750,919
37,466,904
57.5
The following estimates of deaths, within contemporary borders, during World War I
were made by a Russian journalist Vadim Erlikman in a 2004 handbook of human
losses in the 20th century. Erlikman's estimates are based on sources published in
the Soviet Union and Russia. These figures just showed dead soldier not including
the civil, war causalities and also aftermath which are much bigger but was not
reported maybe to under estimate their participation in the war!
•
Algeria (1914 known as French Algeria): 26,000
Benin (1914 part of French West Africa): 27,000
Burkina Faso (1914 part of French West Africa): 17,000
Chad (1914 part of French Equatorial Africa): 1,500
Gabon (1914 part of French Equatorial Africa): 10,500
Ghana (1914 known as the Gold Coast): 16,200
Ivory Coast (1914 part of French West Africa): 12,000
Kenya (1914 known as British East Africa): 32,000
Madagascar: 2,500 military
Malawi (1914 known as Nyasaland): 3,000
Mali (1914 part of French West Africa): 60,000
Morocco (1914 known as the French protectorate of Morocco): 8,000
Mozambique The losses of Portuguese Mozambique were estimated by a
Russian journalist Vadim Erlikman in a 2004 handbook of human losses in the
20th
century. Erlikman's estimates are based on sources published in the Soviet
Union
and Russia 52,000
Namibia (1914 known as German South-West Africa): 1,000
Niger (1914 part of French West Africa): 1,000
Sierra Leone (1914 part of British West Africa): 1,000
Tanzania (1914 part of German East Africa): 50,000
Togo (1914 known as German Togoland): 2,000
Tunisia (1914 known as French Tunisia): 2,000
Following WWI, scholars have decided to research what are the reasons of the
World War and the primary grounds which unavoidably contributing elements to the
World War I. The United States government sponsored a commission thereafter the
conclusion of the war to see why the United States particularly was involved in the
war. The agreement among the panel members was that the United States entered
the war to protect their international business interests, predominantly in the arms
trade. The USA was not engaged in the war to battle for democracy or to free the
world. While the United States initially stayed neutral country, they continued to
furnish supplies to both the Triple Entente (Great Britain, France, and the Russian
Empires) and the Triple Alliance (Germany, Austria-Hungary, Italy). Ultimately, both
coalitions made a decision to no longer recognize impartiality rights, and
commenced attacking American business interests/merchants, which led to
intervention. It was the underlying cause why the United States involved into World
War I. The goal of this article's is to also address the primary causes attributed to the
causes of World War I. It is vital to better understand what leads to such devastating
wars, in order to better ensure that they do not occur again.
The scholars also recognized the beginning of World War I to the fact that the
European economies often conflicted and competition with one another. In essence,
during the late 1800's, the European countries economic became involved in the
struggle for emerging markets, as well as the imperialistic struggle for further
colonies. This imperialism doctrine led to numerous confrontations among the
European powers, as the traditional European powers England and France had to
strive to maintain control over their colonies, as new European powers such
as Germany tried to gain control over them. A diplomatic factor that also was
influential in World War I was that in the period following the Crimean War
throughout World War I, European nations engaged in numerous secret military
alliances which led to distrust among one another. In fact, the two main military
alliances during World War I, the Triple Entente and the Triple Alliance, emerged for
these very reasons.
The US is considered to be beneficiary of the world War I, when the war started the
United States economic was in downturn unemployment extremely high and was net
defaulter in international money markets but thereafter the war the US launched to
play a main role by supplying large amount internationally in Latin America, other
European capital exporters and other parts of the world, taking on the traditionally
perceived UK role. New York appeared as equivalent to London or better to grow to
be the World principal monetary center due to the war had weakened UK.
Wars World II
At the end of the First World War, many of the disagreements that ground it still
required to be resolved. When Germany admitted defeated, the German people still
suffered an enormous amount of bitterness for new countries obstructing in the
infrastructure of Germany itself. The stage of awful reaction upcoming from
Germany and other countries was so immense that they weren't even asked to take
part in the peace treaties that were set at the end of the war. The agreement of
Versailles, signed at the end of World War I, placed responsibility for the war solely
on Germany and Austria-Hungary.
Because the culpability was placed on the Central Powers alone, they were
accountable for producing reparations for the devastation and debts of France and
Great Britain. Since Germany was previously deeply overwhelmed from their own
debts and the devastation of their homeland, they were forced to borrow in large
sums from the United States in order to pay back France and Britain for war
reparations. Once the Great Recession hit American and European economies,
Germany could no longer have access to a loan from the United States. France and
Great Britain still withdrew monetary resources out of Germany, who believed it
would be protected by Woodrow Wilson's Fourteen Points for peace, which France
and England rejected. America's failure to join the League of Nations kept Europe
weakened. The Agreement of Versailles was so weak and uncoordinated a treaty,
that it permitted Adolf Hitler and the Nazi party to rise to power amidst distraught
German citizens and economy. It's fair to presume consequently that the First World
War was the principal reason of the Second World War because it was the first in the
chain of events that eventually led to the announcement of war in 1939.
The challenging surroundings to the majority vicious war ever, were the creation of
the German-Italian-Japanese coalition and determined their effort to spread out at
the cost of weaker neighbors and the older colonial powers, especially Britain,
France and Holland. Italy and Germany had long earlier than 1914 went into the
colonial struggle but they expanded late and found all the best territories, strategic
positions and trade routes. The arrangement prior to 1914 was, on the one part, the
'Triple Coalition' of Germany, Italy and the Austro-Hungarian Empire, and positioned
against their expansionist aspirations the 'Triple Entente' of Britain, France and
Russia. The worldwide economic recession instigated nations to create strict
economic "coalitions" in order to defend their industries and horde significant raw
materials. Regrettably, Nations similar to Japan and Germany had to import critical
resources like oil and rubber from places which were outside their area of authority;
and often unfriendly towards them for ideological purposes. In addition, trade
barriers made many resources just too expensive to import even if exporter nations
were willing. The answer to this predicament for Japan and Germany was to actually
acquire hegemony through military invasion, the resources they required to fuel their
economies.
The Great Recession had significant impacts in the political area. In 1932 the United
States economic agony led to the election of the Democrat Franklin D. Roosevelt to
the presidency. Roosevelt introduced major changes in the organization of the US
economy, by means of increased government regulation and substantial publicworks projects to support a recovery. But in spite of this energetic involvement,
crowd unemployment and economic stagnation sustained, the recession ended
completely soon after the United States' entry into World War II in 1941. In Europe,
the Great Recession strengthened radical forces and lowered the standing of liberal
democracy. In Germany, economic suffering unswervingly contributed to Adolf
Hitler's climb to power in 1933.
The U.S. government lead on such a vigorous role in economic affairs during the
war, concerning their economic ideology, this evolution however should not lead to
the ratcheting up of government role in peacetime. Subsequent increases in federal
expenses resulted for the most part from war-correlated matters (such as veterans'
benefits), and the most of the wartime regulatory agencies soon vanished due to the
efforts of conservative politicians. The successful wartime period "augmented the
self-assurance that central planning was the best way to meet a national crisis,
certainly in wartime, and possibly in peacetime as well." This central development
was used by the funding policy to the former Soviet Union; this created confusion,
an economy policy confusion with people who advocate for the free market and the
central planning. Before both World War I and II USA economic was in recession
same like the European but by supplying arms, logistics financing the wars and
enter in both wars USA had got off from the recession and had wealthy economy.
Why after 20 to 25 years after the Second War, USA and the European were still
having economic and social problems and have created the cold war with the
exception there were no fights like the World War I and II but had created three
worlds: (capitalism world, Communism World and the Third World countries).
The central planning that was developed through the World War II and after had
appeared to be working for few years during and post the big wars but largely failed
due to Governments continued over spend of money exponentially although the war
had stopped. Major European countries including Russia and the USA were in
expansion crusade based on one ideology, ruthless power politics and economic
expansion all over the world this has created the cold war and its consequences.
The pitiless power politics and economic spreading out has created two social and
political systems each of the system portrayed itself to be the good guy and the
other to be the bad guy with their own definition and interpretation:
“The Soviet Union was a Communist country, financed by “the capitalism funds” for
the Bolsheviks revolution thus creating a society and ideology within. The top 1%
and the 99% call proletarians. This Bolsheviks revolution has allowed the capitalism
ideology to survive and to compare the two ideologies whilst financing by the same
Group.
According to the President Truman of the US speech in 1947:
The Soviet Union was a Communist country was ruled by a dictator and put the
needs of the state ahead of personal human rights it relies upon terror and
oppression, a controlled press and radio; fixed elections, and the suppression of
personal freedoms”.
“The West was a capitalist democracy which valued freedom, free elections,
individual liberty, freedom of speech and religion and feared Communism.”
Two merciless power economic and politics spreading out ideologies were not
contradictory they were radical, aggressive and expansionist. They mutually
supposed that one of the substitute ideologies was measured a danger to their own
way of life, and that the merely secure way for the world to be free and in high spirits
was for them to sell abroad their scrupulous philosophy to take over the world. This
combination of heartless supremacy politics and economic expansion ideological
terror and belligerence meant that in both America and Russia, their viewpoint
invaded and exaggerated their foreign policies. These lacks of trusts were part of the
fundamental ideological between the two sides, but they also provided weapons in
the misinformation, propaganda war which both sides waged against each other.
Consequently to Russian historians, the British Prime Minister, Churchill and Truman
the American President 1945-1953 were responsible during the Cold War
with deliberated to demolish former Soviet Union which only was protecting
itself with its rhetoric and political actions. The westerner’s views blamed
former Soviet Union to construct an empire but later some of the westerner’s
historians blamed America, they alleged Truman had not understood how
much Russia had suffered during The World War II and lately historians are
in agreement that the Cold War was principally a conflict of beliefs between
Communism versus Capitalism.
WWII THE NATIONAL WWII MUSEUM NEW ORLEANS
Deaths by Country
Country
Military Deaths
Albania
Australia
Austria
Belgium
Brazil
Bulgaria
Canada
China
Czechoslovakia
Denmark
Dutch East Indies
Estonia
Ethiopia
Finland
France
French Indochina
Germany
Greece
Hungary
India
Italy
Japan
Korea
30,000
39,800
261,000
12,100
1,000
22,000
45,400
3-4,000,000
25,000
2,100
--5,000
95,000
217,600
-5,533,000
20,000-35,000
300,000
87,000
301,400
2,120,000
--
Total Civilian and
Military Deaths
30,200
40,500
384,700
86,100
2,000
25,000
45,400
20,000,000
345,000
3,200
3-4,000,000
51,000
100,000
97,000
567,600
1-1,500,000
6,600,000-8,800,000
300,000-800,000
580,000
1,500,000-2,500,000
457,000
2,600,000-3,100,000
378,000-473,000
Latvia
Lithuania
Luxembourg
Malaya
Netherlands
New Zealand
Norway
Papua New Guinea
Philippines
Poland
Rumania
Singapore
South Africa
Soviet Union
United Kingdom
United States
Yugoslavia
War
World War II
----17,000
11,900
3,000
-57,000
240,000
300,000
-11,900
8,800,00010,700,000
383,600
416,800
446,000
227,000
353,000
2,000
100,000
301,000
11,900
9,500
15,000
500,000-1,000,000
5,600,000
833,000
50,000
11,900
24,000,000
450,700
418,500
1,000,000
Number Serving
Battle Deaths
Disease & Accidents
Wounded
Total Casualties
16,353,659
292,131
115,185
670,846
1,078,162
World-Wide Casualties*
Battle Deaths
Battle Wounded
Civilian Deaths
15,000,000
25,000,000
45,000,000
*World-wide casualty estimates vary widely in several sources. The number of civilian deaths in
China alone might well be more than 50,000,000.
Is capitalism is a prosperous economic model or it is just an illusion?
From the founding Father Adam Smith and up to now we have seen different
schools come out with different theory’s and views on how to apply new theories, old
theories and how to combine both to solve our society’s economics and social
problems. There is also the fact of another issue the development of a chronic
capitalism and or predator capitalism with no basic rule and regulations with
negative consequences on the repartition of the wealth where 99% of the middle
class is now in poverty and the other 1% become richer every day. This could draw a
parallelism between the Communism ideologies of class that resumed 1% of the
apparatchik enjoyed all the advantage versus the rest of the population. Although
the communism philosophy disappeared in the years 90’s not much has really
changed from the former Soviets countries. Citizens still don’t enjoy free democracy
with plenty of food on the table. Their country’s economy systems are almost
bankrupt and other European and world debts represent an average at least 95%
plus of their GDP which is unsustainable!
It seems all these theories are there to serve the ruling class which represents
barely the 1% of the population and the 99% who work two to three jobs dreaming to
be prospered one day is a myth. In the USA the student loans debts are above 1
Trillions USD. Interest rate competing with credits cards interests, uncertain jobs
security and potential at the end of your four years colleges all lead to a pending
disaster. Zimbabwe has a good educational system with no bilateral aid or
international assistance has maintained his education system affordable and
fundable and with much lowers debt!
The Great Recession could have started earlier with the terrible collapse of prices on
the stock exchange of New York in October 1929. Over the next couple of years,
prices continually sustained a decline in the USA until the end of 1932 and were to a
relative value of only 20 per cent of 1929 prices. In addition to the thousands of
individual investors being harmed, this fall destroyed the banks and affected
significantly the value of assets and other financial institutions, in particular the
population and their private portfolios. With this motive, numerous banks had been
mandated by government to bear out the collapse. 11,000 of the 25,000 financial
institutions had gone into liquidation in the United States in 1933. The crash of
certain banks created a loss of self-belief in the national economy, subsequently
given rise to much lower levels of expenditure and demand and therefore
production, hence the downhill. The result considerably reduced production and the
dramatic rise in unemployment. The industrial production had dropped by 54 per
cent in the United States in 1932, compared to its level of 1929 and job loss had
augmented from 12 and 15 million, or 25-30 per cent of the workforce.
It furthermore became obvious that there had been a significant excess of
production in agriculture, accordingly declining prices and a growing debt in the
midst of farming. At the same time there was the banking crisis, as well as the "Wall
Street collapse" of 1929. This situation was irritated by severe policy mistakes of the
Federal Reserve, which also led to a decline in money supply and slowing down of
the economy.
In 1932, the total value of world trade had plunged by more than half because most
of the world nations required looking after their domestic production by imposing
tariffs, raising taxes, and setting quotas on foreign imports. The consequence of
these preventive measures, significantly decrease the size of international trade.
Before and during World War I the world was in aggravated recession due to economic
policy failure and imperial ideology, invade and grab something that does not belong to
you. As mentioned on the above the unemployment was very high, hitting the
roof, the total mobilized armed forces during the first war was 65,038,810; deaths
and casualties was 37,466,904 which represented 57.5% without mentioning any
further collateral damages due to the World War I estimated to be another 10
million. During the World War II deaths and casualties were close to more than 85
million with a collection of deaths and casualties between the World War I and II
to be more than 132 million which ultimately wiped out the existence of more than
75% of the unemployment rate as detailed before the World War I & II. The reconstruction project created the so called the new economy boomed era. As you
can see with this chart below the US unemployment before the second war was 37.6%,
Germany 36.2% and etc., everything was almost gone during the war.
These countries borrowed funds to go to war and after the war they borrowed to
reconstruct the countries the cost for the wars is passed to the population but not the
profits?
According to General Smedley Butler one of the finest strategists of all times said
“War is a racket”, wars are declared to protect a merely 1% of the population. To
protect corporate interests and not Governments interests. A least amount of 21,000
new millionaires and billionaires were produced in the United States throughout
the World War. Several acknowledged their enormous blood gains in their income
tax returns. How many supplementary warfare millionaires falsified their tax returns
no one knows? For General Smedley Butler, how lots of these war millionaires
shouldered a rifle? How countless of them dug a trench? How tons of them knew
what it meant to go hungry in a rat-infested foxhole? How several of them spent
sleepless, terrified nights, ducking ammunitions and shrapnel and machine gun
bullets? How lots of them parried a bayonet shove of an enemy? How many of them
were injured or killed in battle?
And what is this bill? This cost renders a horrible accounting, newly placed
gravestones, distorted bodies; traumatized minds, broken hearts and homes,
economic instability; depression and all its attendant miseries; back-breaking
taxation for generations and generations.
All these things beg us as again the same question which is: Is the capitalism is a
prosperous economic model or it is just an illusion? We have been told that the
middle class are the corner stone that capitalism has created and everybody dreams
of such. If you work hard you can be successful! The middle class system is a just a
temporary assignment or a lease of one’s wealth’s, it is just a question of timing for
the lessee’s to get control of what belongs to the lessor. It appears with certainty that
the entire world is in financial crisis every five to 10 years!
The United States of America is the only developed country in the world not to be
devastated during the World War II but had spent during many years several
hundred billions on unnecessary rational thinking by forgetting before the war the
country was in severe recession, the unemployment was very high. This irrational
spending choice came back after the Second War by creating economic problems,
believing things were going to be better and went to worse.
CONTRIBUTIONS:
Dr. Amouzou received his Master in Business, from the European Advanced Institute of
Management, also a Certificate in Finance and Investment in Paris, France. He
completed his Post Graduation work in Political Strategy, International Relation and
Defense Strategies and earned his Ph.D. in International Finance.
Contribution to this article:
Raymond Bernhard West from West International Petroleum LLC; Fundacion Paraiso
Sin Fronteras; Morgan Lewis; Amouzou Nkrumah Production
Dr. Mehenou Amouzou – Publications on World Economic Crisis
•
La Sante en Afrique : Couloir de la mort?? Chlore, Fluor = Asthme, Eczema,
Cancer de la vessie, les maladies Cardiaques Etc!!!
•
“Nigeria the Economy and Military Super Power”
•
“West Africa Single Currency: The lesson To Learn from European Single
Currency”.
•
“The Global Banking Financial Crisis’s and Its Impact on Developing Nations:
Case Study Africa.”
∗ “The Economic Decline of the USA Empire: The Airplane without the Pilot”
• “The Perspective on Global Economic and Financial Status for 2013 and its
impact on the future of the global economy?”
•
‘
“Could the World and the European Financial Systems Survive This World War III
Financial Crisis or it is the end of the Western Civilizations?”
•
”Corruption and Development in the Developing Countries”
•
“The World Financial Honey Moon is over: Debt Crisis Continues to Wage War
on Economy Policy”
•
“European Central Bank’s Outright Monetary Transactions (OMT):
The Bazooka Approach”
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