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Commentary :: Labor

In Flight From Reality

America's current dependence on energy imports and its rising levels of indebtedness due to the pursuit of wars of choice in Iraq and Afghanistan to secure a position of advantage in the competition for access to the energy resources of the Middle East, the Persian Gulf and Central Asia, reflect the failures of American leaders in the 1970s and 1980s to think through the consequences of the choices made with regards to energy self-sufficiency and diversification of energy sources.
"On November 8, 2009, the Sunday Times of London ran a story on the Wall Street firm Goldman Sachs, which was headlined: "I'm doing 'God's work'. Meet Mr. Goldman Sachs." The idea of the investment firm doing God's work was attributed to the Chairman and CEO Lloyd Blankfein. The rich irony that underpinned this image of Blankfein was indicative of the rhetoric that has emerged in the defense of the workings of Wall Street amid growing evidence of both incompetence and chicanery on the part of major investment houses and assorted banks. In earlier times, Jesus Christ used a whip to drive the money changers from the temple for their desecration of the sacred space. Today, the American government will have to redefine the spaces within which the money changers will operate and, perhaps, jail more of the perpetrators of fraud like Bernard Madoff rather than whip them in the manner of Christ...

Thirty years on, American policymakers have validated George Santayana's pithy observation, "Those who cannot remember the past are condemned to repeat it." Hopefully, the Deepwater Horizon disaster will help them to focus their minds on both history and the future - given the unsustainable present that has been based upon wishful thinking that Wall Street's financial speculation and wars for energy resources are sound bases for economic success. Sen. Robert Byrd's prediction of a turning point in the recent history of the world has come to pass."

to read Cary Fraser's article published May 26, 2010 on www.truthout.org, click on
www.truthout.org/in-flight-reality59838
 
 

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