When the fabulously wealthy little nation of Dubai tried to unload some of those petro-dollars buying into the US port business a while back, a furious Nationalist hue was raised. "Security threats" and all that. Yet when Abu Dhabi want's to use some of the dollars American gas guzzlers have been sending their way in order to "rescue" Citibank we get a much different reaction. Either indifference or satisfaction at how effeciently capitalism operates. What happened to the fear of the New Caliphate? "Don't fly planes into our Towers of Power" we are saying, "simply buy the damn things". Less messy.
I obviously don't share the faith in this "invisible hand", but if knocking a half point off the interest rate is all the Fed needs to do to right the universe why not just set interest at zero and create Paradise on Earth? Free Money, Free People, Free Everything! What logic is operating here,and is it a problem if only a small handfull of economists understand this bizarre system?
Perhaps Chavez could have found a better metaphore when he said "It is not strange that when a submarine goes deeper the pressure is increased and can free a loose screw. The weak points are going to leave ,and I believe it is good that they leave." Again, like economics, my nautical knowledge is limited but if a submarine loses to many screws or has to many "weak points"isn't that a problem? Now Correa of Ecuador is following the trend of constitutional tweaking, inserting language to validate spending on social capital, on securing collective rights and enhancing the public trust.
What happened to the immigrants rights movement since March 2006? In the New Left Review Jesse Diaz and Javier Rodriguez repeat a familiar story :"Like any mass protest movement in the US, the immigrants rights movement ran the risk of being diverted into the Democrats' electoral machine". Mainstream Latino leaders as well as SEIU and the National Council of La Raza, Somos America Coalition and the Catholic Church thought they could compromise with the Rabid Tancredo Right and ended up with nada. With law and order capitalism/ zenophobia you end up with pro-amnesty forces lined up against "pathway to citizenship" forces and the Minutemen win. Corporations can put up with INS raids and token fines. Workers are brutalized. Families broken. Melted Pot.