by Derotha Ann Reynolds

Created on: October 09, 2010   Last Updated: January 13, 2011

No one benefits from the current incarnation of globalization.  It has ruined the global economy.   A better concept for world trade would be agreements between nations involving tarrifs where appropriate to protect domestic industries that are essential for national security.  This would also allow for mutually beneficial agreements involving international infrastructure that would enhance the lives and standard of living of the resident populations of the agreeing nations.

Globalization, under the mis-named policy of "free trade" has virtually enslaved the populations of the "third world" nations.  They are not developing nations under this policy, they are dying nations.  To suggest that the people who live in poverty while they make our shoes have benefitted from this poverty is riduculous.  To suggest that we, the American people have benefitted from our service economy is equally ridiculous.  Globalization must end, and it must end soon, before we, too, become virtual slaves to the debt that is dictated by the international private banking cartels that dictate internaional exchange rates and currency values. 

The next step of the current trend is predictable, and tragic.  As speculation on precious metals, basic indusrial commodities, and housing expands to food prices, and as hedge funds and interest rate swaps become the only "investments" available to municipalities, the financial structures will devolve into hyper-inflation and collapse, taking our way of life with it.

We need to return to a productive economy based on agriculture, technology, nuclear power, maglev trains, water importation, and manufacturing, with international trade based on a fixed exchange rate, so that long term debt will have stability and trust.  This means returning to a system of government regulated credit so that all projects that contribute to the general welfare of the population will have protected interest rates and banking discounts. . . speculative agreements based on paper and exotic financial constructions will have to rise and fall on their own merits.  There is good legislation, Glass-Steagall, the Banking act of 1933, that addresses just such situations.  This will return the involvement of American business to endeavors that will benefit the American people, and make profitable small business possible again. 

Our schools will improve if we offer employment that requires an education.  Our morality will improve if we think about something besides where to get our next thrill.  Our health will improve if we have a locally-grown diet.  Our family life will improve if we have a workplace that is within 20 minutes of our home.  Our goals will improve if we concern ourselves with providing necessary items for human life, and our standard of living will improve, too, when there is preference given to producing real human advancement, instead of just "making money" through the manipulation of prices.  Such a morally-based economic system will be eagerly embraced by the international community, especially in Asia, and will be quickly adopted globally if the United States takes the lead.

Who benefits from globalization?  The international corporations and financial empires who have no obligation to any segment of the population of this planet.  Who suffers from it?  The human race.

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