Bush Economic Policies Spark Flames As World Markets Tumble
By James Donahue
The flawed economic policies carried on by
the Bush Administration and now triggering a global meltdown has drawn some sharp barbs of criticism this week from three
interesting parts of the world; Iran, Venezuela and Australia.
Iranian President Mahmoud Ahmadinejad and
the Iranian supreme leader Ayatollah Ali Khamenei have both spoken out on the subject, saying the world financial crisis is
a crack in the capitalistic system that may mark “the end of capitalism.”
The two leaders of a socialistic system proclaim
what is happening a sign of the failure of liberal democracy and perhaps even a “divine punishment.”
“These people see the outcome of their
bad deeds,” said Ayatollah Ali Janati, head of the Guardians Council. And Ahmadinejad said “the reason of their
defeat is that they have forgotten God and piety.”
The Iranian president said the financial
crisis is a divine sign that “the oppressors and the corrupt will be replaced” and that “an Islamic banking
system will help us survive the current economic crisis.”
To date, the Tehran stock market, which operates
without a large influx of foreign investors, has remained unaffected by the losses occurring on markets in neighboring Gulf
states heavily linked to American business interests.
From Caracas, socialist Venezuelan leader
Hugo Chavez is mocking U.S. President George W. Bush for the government’s “nationalization” of major private
banks. Chavez reminds the world that the Bushites were critical of him when he nationalized U.S. business interests in his
country, but says Bush has now become a “hard line leftist” like himself. Chavez went so far as to call Bush a
In a public statement this week Chavez said
“Bush is to the left of me now. Comrade Bush announced he will buy shares in private banks.” He said Bush really
is clueless and merely parroting the words of his aides without any understanding of what he is doing.
Australian Prime Minister Kevin Rudd also
has joined with the voices of world leaders speaking out against U.S. financial policies. He said this global economic crisis
resulted from the “comprehensive failure of extreme capitalism.
Rudd, who leads the Australian Labor Party
which leans toward socialism said greed and fear were the twin evils at the root of the collapse that began in the United
States before sweeping the world.
“What we have seen is the comprehensive
failure of extreme capitalism – extreme capitalism which now turns to government to prevent systemic failure,”
Australia has joined governments around the
industrialized world that are now pumping billions of dollars into their financial sectors in an effort to head off a world-wide