Kabiru Danladi
15 November 2008
opinion
I have to admit that apart from my problem in putting things the way they should be my other problem is giving my essay a title. Therefore, when the idea of writing this piece came up I spent a week thinking of a suitable title that can capture my intent. No title is new on this subject; so much is written on the subject that it will be difficult to give it a title without using someone else's title. But I have decided to borrow from other writers and commentators to come up with the above caption.
After two centuries of being a world super power, recent events point to the fall of the greatest super power in the history of the modern world - the American Empire. Writing in his Foundation stories to show that every Empire, even the most powerful one, has to fall eventually, Isaac Asimov, a Russian commentator said that everyone knows that America achieved its peak power and world influence in the twentieth century. But how much longer is it going to last?
It is very hard to predict what will happen in the next few years, basically because we still have little knowledge of what is happening inside the country. The only thing that came to us is what is sieved through their powerful media and the media help a lot to hide the realities on ground. But, as Asimov observed, there are certain signs that may give early hints that the end is approaching. One of them is the recent financial crisis that hit the country. Today the father and mother of modern capitalism is making provision for 'intervention' to save their financial market from shrinking further.
But from all indications these intervention as sweet as they sound are doing nothing to save the country. Repeated attempts brought failure after failure in spite of closely following blueprints put together by the best brains from Harvard, Oxford and London School of Economics and Political Science. Asimov wrote in his Foundation Stories 'I knew that this time the funeral march is being played for the most powerful country on earth - the United States of America...'
Today, as I am writing this piece the United States of America has a debt of over $10,266 trillion. And they collect close to $3 billion daily to finance their senseless wars in Iraq and Afghanistan. America, in reality, is dependent on foreign debt to finance itself. Robert Kuttner, a newspaper columnist and commentator, wrote in his book sometime in 2007, The Squandering of America: How the Failure of Our Politics Undermines Our Prosperity, explaining the above situation. Kuttner notes that the devaluation of the dollar, which reached a humiliating low during the time of George Bush (jnr) until now, and the deterioration of moral values in the economic sphere are what led to the present havoc we see in the US financial market.
According to Kuttner, the war in Iraq resulted in the destruction of democracy and the rule of law upon which the foundation of the American nation was laid. Although there are several factors that caused the deterioration of US status in the world, most analysts agree that the war in Iraq was the straw that broke the camel's back. The invasion of Iraq remains the greatest blunder and miscalculation orchestrated by the neo-cons, thinking that in a matter of few weeks they can get hold of Iraq's oil to compensate their loss in Afghanistan.
Although most commentators attributed past American presidents for the deterioration of America's status, many call Bush Junior's presidency as the most disastrous in America's history. In the next few weeks Bush Junior will be leaving the White House after breaking his promises to the American people and blundering to historic proportions. It is a fact that the country is fighting three wars: one in Iraq, the second against the resurgent Taliban in Afghanistan, and the third in the economy. The war in Iraq has depleted the US budget, divided America like no other war and with no prospective end, and alienated old friends while creating new enemies in Muslim countries who view America even before the war in Afghanistan and Iraq, with disdain.
Decision wrongly taken by George Bush after the September 11, 2001 attack on World Trade Centre, by invading Afghanistan and the official lies about Weapons of Mass Destruction in Iraq, has been the main reason for the current financial crisis. You don't have to be economist to argue that out. It is a bitter truth that they won't accept. It was said over and over by defence analysts and public commentators, how billions of dollars were budgeted for the war and still put forward by George Bush so many times to fight insurgence in Iraq. And up to this day there are no indications as to when this war will come to an end. Bush has dragged America into the cemetery to satisfy his family's interest of having a hold on Iraq's oil which Saddam denied them for over 10 years.
It is not my intention to suggest ways to 'bail' America out of its present mess because back home here in Nigeria we have enough to worry about. But there is a lesson to be learnt from all this turmoil in the current financial market, especially to our small Harvard economics graduates who made us believe that the only way to development is through following economic policies of the IMF/World Bank.
We attended university during a time of transition - the fall of the Berlin wall and the disintegration of Soviet Union at a time when the New World Order was introduced and capitalism became the only acceptable system. Books, journals and all write-ups on socialism were systematically removed from library shelves. We were left with no thought of our own, nobody can think beyond his nose. Then terms and concepts like liberalization, privatization, market economy etc became catch words and phrases even among intellectuals and academics.
Can anyone from the liberal school come and explain to me in a convincing essay why the financial market crumbled? I know some may try because they are very good in inventing concept, which is why words like 'intervention', 'bail out', started becoming prominent in news every day, something we were told during our school days is prohibited in capitalism. Why are they intervening now?
That is why it is very good to have your own economic policy that will suit your socio-cultural background, not the one invented and nurtured by people whose sole aim is to satisfy their own interest not yours.
Danladi writes from Gombe
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Capitalism is a great concept but also a danger when it can only more benefit lobbies in the western countries and America. Read the following: Conflicts in central Africa will not be resolved by dividing DRCongo With more than 6,000,000 people dead between Mai 1997 and November 2008 there still no hope for peace, nor significant effort for solution in DRCongo’s conflict despite the presence of 17,000 UN peacekeepers in the region. The international community forces are not able to stop the rebels in a “Machiavellian attitude” while proposing different forms of a so-called peace process to end up in suggesting “the division of the big Congo” into small countries to help Western and American lobbies to easily loot and plunder all the natural resources for the benefit of “their own businesses”. Everyone knows that there is no real conflict in the eastern DRCongo region as long as Joseph Kabila(DRC president), Kagame(Rwanda president) and Kunda Bantware(Eastern DRC rebel) are close friends, all Tutsi and sharing same ideology. They all support the Tutsi tribe to the detrimental effect of disturbing the entire region and causing a chaotic situation in which 50,000 people are dying every month either directly or indirectly from the so-called war. This Tutsi plot has caused poverty, hanger, malnutrition, diseases, disorganisation, and lack of hope, trust and confidence within the entire community. This conflict reality is so obvious when no-one can understand how a foreign country; 100 times less bigger than DRCongo, can always attack and not expect a reply? UN troops(their French acronym: MONUC) have been unable to stop Kunda rebels in several occasions but can only control the population commotion when standing against Kabila’s power. This seems to be the main reason of their presence. Today’s democracy is fighting against terrorism, discrimination, racism...amongst human communities while promoting cohesion, equal opportunity, human rights...meanwhile Kunda Bantware rebellion is promoting invasion, killings, kidnapping, rape, children abuse, hatred, tribalism...and still have enough argument to defend their action without being stopped or punished. This is amazing. DRCongo inhabitants are human beings and cannot be exterminated in the eyes of the international community without significant move and action being taken against these atrocities. When 800,000 people died in Rwanda in 1994, because of tribal and political fighting, the international community reacted late and called it a “genocide”. Now that more than 6,000,000 have died in a similar conflict no-one is ready to qualify this act a “genocide”. But when looking at the span of the woe inflicted by rebels and business groups we still believe that powerful countries such as America, Great Britain, France...have seen this and will comfort people of DRCongo with a very strong intervention and support to end this misery. This is a war for minerals like coltan (used in mobiles phone and many electronic equipments), uranium, gold, diamond etc..that are in DRCongo land and has nothing to do with DRCongo division for good control. It is a business people activity for selfish enrichment and not for any human welfare purpose. Even though Congolese minerals are really needed by industrial businesses around the world, we can still find other ways for good cooperation and stop the killings. We hope the Lord almighty is listening to our cry and will intervene in our favour by Jesus Christ the saviour, amen!
THE CONGOLESE COALITION GROUP
can you email me some-thing so I can learn more thank you karen
All Africa American Financial Crisis and the Death of Capitalism By Kabiru Danladi
I can appreciate Mr. Danladi’s difficulty in deciding on a caption for his very well written essay. The subject is so fraught with difficulty that to attempt an analysis seems almost impertinent. And, one may ask, what is being analyzed? The American Empire? Democracy? “Liberal School”? Capitalism? One must find ones way through a virtual maze to even approach the problem. As a retired engineer and not an economist I feel totally inadequate to try to offer any explanation for the collapse of the financial markets. Nevertheless, I will offer my two cents worth.
Some time before Isaac Asimov delivered his “funeral march” on the death of Capitalism, Oswald Spengler penned his Decline of The West. In his far reaching analysis of the rise and fall of cultures, Spengler predicted the fall of the power of money. He predicted that money would be replaced by raw power-a new Caesar. I certainly do not want to endorse or evade such an eventuality. However, it seems clear that in this apparent demise of Western Culture, the power of money is in its death throws.
The power of money is based on wide spread stupidity. This stupidity has been fostered by a culture that values money over everything. The generation of this culture is not accidental, but carefully planned. The orchestration of this culture began with the Industrial Revolution, and the quickly following use of Marketing. More goods were produced than could be sold. Marketing convinced consumers that they needed the excess products, and industry thrived. Since these early days, growth of the market has been fundamental to the survival of Capitalism. Growth is the fuel of Capitalism. It has today its own cliché, “Growing the Economy”. Such a charming biological reference is almost amusing, and dates back at least to Goethe. Of course, the “growth” is illusory. People buying nonsense they don’t need cannot be perpetuated indefinitely.
All of the discussion of the Bush administration and the Neo-cons, and the lies, and the squandering of vast sums of money, and the unending wars purposely created by the Neo-cons is now ancient history. It cannot be undone (as was intended by the Neo-cons). They won. They have destroyed Democracy in America. They may yet get their dreamed of Strong Man. Oh, if only enough people had the intelligence to understand Nietzsche’s Ecce Homo!
However, and this is the time for a deep breath. It seems to me that there is probably something mathematically certain about the financial collapse generated in the U.S. of A. This no doubt also obtains insofar as cultures collapse as well. It may be a simple result of the Fractal Geometry of Growth, or the growth of Capitalism in this instance! The system keeps regenerating, over and over again, until it dissipates itself, essentially disappearing into thin air! This could also be an explanation for the collapse of the Russian empire, and many other endeavors based on growth. The growth also may produce genetic modifications over time which cannot be predicted. This is somewhat analogous to the growth of cancers. Apparently predictable, but beyond our current ability to duplicate.
Of course, one could ask, how could this all occur at the same time in so many different cultures? Well, the cultures are not so different after all. They are all tightly interwoven, as far as their economies are concerned. Even a culture as different as China is from the U.S.A. has adopted the same methods of making money. The difference is only in the degree of slavery in use. So, who knows how things will fall out this time? It may be that we are on the verge of very tumultuous times in the world!
I hope I have delivered my two cents worth!
David Boyle, USA
The fall of the American empire is a slow tumble, in process now for several decades. Doubtless, powerful positions were handed over to evil madmen, bent on destruction and greed. However, as an American, I can hardly lay the blame solely on the moral anemia of our leaders, elected or otherwise. The American people willfully obscured the truths right in front of their eyes. They continued to squander what little real wealth they had on useless luxury. Everyone chased the dream of capitalist abundance, aware that "money can't buy happiness" but nevertheless totally convinced that the American Dream was right and good to spend one's life pursuing. No one questioned where the wealth comes from (China), or that it might run short some day (today). Everyone only wanted their piece of the dream, but now we are beginning to wake up to the reality.
Interesting, too, the emphasis on the neo-con movement in non-U.S. media. They are scarcely mentioned in the states. Some Americans have heard the term, but most have no idea who it refers to and what they believe, even though they run the country. The self imposed ignorance can be stunning, but intellect and education are scorned by the ruling elite, and the under classes are quick to emulate and parrot their masters.
As an answer to your question, why does the United States need intervening now:
Capitalism is a great concept. But that concept can only prosper and grow when all foundational and infrastructure elements are in place- this is the ticket price into the game. The United States only endorses capitalism because the United States has all of the elements, in many redundant ways, to harvest the grapes of capitalism.
By telling other countries that they simply cannot play due to lack of these foundational elements, is to motivate those countries to decry capitalism based on 'their position'. In other words, the U.S. is simply capitalizing on an unfair advantage.
But why the intervention? In your article you did, in fact, mention the activities of the neo-cons. For fairness sake, let us speak specifically about the 'Bush neo-cons'. These people do not care about people who are at a disadvantage in the capital markets. They care only about themselves- period.
These 'particular' neo-cons have gained power by influencing the less intelligent of the our society, compelling these lesser intellects to vote against themselves. But who cares? These neo-cons only care about themselves.
These attitudes went over-board, and became the defining mantra: 'Our Right To Just Take It'. What they did not anticipate was the fact that this was not a social movement, but a propaganda movement. That fact meant that the lesser of American intellects would soon feel the pinch of reality- that has happened, hence the need for intervention, and the removal of neo-cons from power.
The capital machine is just that- A Machine. And every machine must be tuned and maintained, or it will fail. The neo-cons felt so strongly that the machine never needed maintenance, and that they could simply push the machine non-stop to it's limit, in greedy efforts to enrich themselves.
The real lesson, clearly learned, is that Americans must vote with intellect, not with wishful greed, to place in power people who will manage and maintain the American capital machinery responsibly.
Bill Wilkins