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Former VP of World Bank Who Exposed Road Privatization Story Speaks on The Economy

Posted in H.L. News, Main Blog (All Posts) on August 16th, 2007 8:58 am by HL


Former World Bank Chief Economist Predicts Global Crash

Infowars
Excerpt

Former World Bank Vice President, Chief Economist and Nobel Prize winner Joseph Stiglitz has predicted a global economic crash within 24 months – unless the current downturn is successfully managed. Asked if the situation was being properly handled Stiglitz emphatically responded “no,” and also drew ominous parallels to the development of the NAFTA Superhighway and the North American Union Stiglitz caused controversy in October 2001 when he exposed rampant corruption within the IMF and blew the whistle on their nefarious methods of inducing countries to fall under their debt before stripping them of sovereignty and hollowing
out their economies.

The Columbia University Professor described how rampant privatization has crippled Mexico, in particular citing the sell-off of major infrastructure such as roads.
"They sold the roads to the private enterprise and the hope was that they would be more efficient but of course what happens is that they didn’t maintain the roads, they couldn’t generate enough revenue and they eventually had to default and give the roads back
to the government."

Stiglitz agreed that the process of hijacking and looting key infrastructure on the part of the IMF and World Bank, as an offshoot of predatory globalization, had now moved from the third world to Europe, the United States and Canada.

These sentiments are especially disturbing when we consider the current fast-moving quasi-secret agenda to sell-off major American highways to foreign corporations who plan to turn them into toll roads for tracking and taxation purposes – collectively known as the
NAFTA Superhighway. The program forms the framework for the advancement
of the North American
Union
– a collective governmental, border and trading bloc
that President Bush has signed the U.S. over to under the Security and Prosperity
Partnership of March 2005.

As we previously
reported
, US citizens will be forced to adopt a de-facto national
identification card and have their freedom of mobility defined by behavioral
fealty to the government under proposals set to derive from NAFTA superhighway
toll road systems and the implementation of the American Union.

This is a movement that’s gone on all over the world," said Stiglitz, "the movement of trying to turn over basic facilities – water, roads, to the private sector.

One Response to “Former VP of World Bank Who Exposed Road Privatization Story Speaks on The Economy”

  1. hay Says:

    In Europe there are even fees now to enter cities, downtown areas, and special traffic zones.
    The attacks on “deregualtion” and “privitization” are usually slanted by the media. In California, for example, the electricity burnouts at the start of the decade were all blamed on deregulation, when no market has been more heavily regulated than the California power companies. They were not allowed to bulid a single plant for years while electricity use skyrocketed. So they had to import it. The state legislature set up asinine price controls and restrictions on the utilities buying on the spot market. When the utilities started going broke because the price controls would not allow them to cover costs, outside utilities were afraid to send them electricity. This only touches the iceberg of how the state legislature screwed up. Two major utilities there have sued the state for messing them up. The government is the problem as usual.