Jonathan Spencer's Tales of Ordinary Wisdom

Write off world debt interest payments

wow, Indonesia owes 57billion dollars, each year pays 3 billion dollars in interest alone, and now since this disaster struck they are talking of wiping out the interest payments on their debt if promises can be made and fullfilled that the money will go to rebuild infrastructure ( and not to swiss bank accounts?).  So What of African countries….

….suffering famine, war and destruction brought on by loans of money that have gone on arms.

Firstly, why when making loans do they not seek assurances that the money is not spent on arms, oh because the G8 countries who control these loans are the big arms manufacturers.

Why don’t they suspend interest payments on loans for some of the African countries, in fact why don’t they write of the debt altogether. Because western lifestyles are supported by the debt and debt interest payments.  Because Malawi is not powerful Indonesia…check where your jeans are made!…they are not providing cheap semi skilled labour for large multi nationals.

But wait any chance this will change the balance of power in the world, and make Bush and Blair’s excursion to Iraq seem even more of a mistake…YES!  The clear up and the knock on effects are going to be very costly and change many things, things we had no idea could change.

“An Inconvenient Truth [2006]” (Davis Guggenheim)

On the front of the UK’s  The Independent newspaper, yesterday was a bunch of worthy people being asked if they thought the aftermath of the Tsunami disaster might change the world for the better, most hoped so, but there was the air of “this is a great opportunity…but nothing much will really change” about it all.

I could tell you tales of friends of mine in Phuket at the time, washed out to sea, separated from loved ones, guarded over by angels perhaps as they manged to get back together again, get flown to Bangkok on a military plane, the efficiency of the UK consulate, the fear of their family inn the UK and so on…its all true, they are safe…but 1000s are dead and left destitute, what of them?

As our government and others argue over debts, money to help Asia Africa and so on, it is once again, ordinary people who will suffer and ordinary people who will pay…I thought again of this poem by Rudyard Kipling on the warnings of the aftermath of a disaster….Mesopotamia

especially these lines….

“Shall we only threaten and be angry for an hour?
When the storm is ended shall we find
How softly but how swiftly they have sidled back to power
By the favour and contrivance of their kind?

Even while they soothe us, while they promise large amends,
Even while they make a show of fear,
Do they call upon their debtors, and take council with their friends,
To confirm and re-establish each career?”
—–

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