The End Of Glibalization

timwilliams By timwilliams, 24th Jun 2016 | Follow this author | RSS Feed | Short URL
Posted in Wikinut>News>Politics

What England's exit from the EU means for the United States.

The End Of Globalization

Ever since the end of World War II the political powers and the financial elites have purposely steered the world to accept Globalization as the rule of thumb for all economic markets. It worked for a period of about 25 years following the war. The Marshal Plan, General Mac Arthur's rebuilding of Japan and the great renaissance of manufacturing in the United States fueled the growing economies of countries all over the world. But, when Roosevelt's Bretton Woods system was dissolved in 1971, by President Nixon under the advice of David Rockefeller was the start of the greatest economic and financial transfer of wealth in our nations history. This was the result of Nixon heeding the advice of Rockefeller in disbanding the gold standard. The move resulted in a transfer of wealth that instead of growing the Middle Class the wealth of nations was now going to the top one percent. So what we are seeing today practically every industrialized nation the income and wealth disparity has only continued to get wider. The rich have been getting richer while the middle class is almost extinct. Let's not forget the growing multitudes of impoverished who are getting poorer by the day.

When the United States went off the gold standard the door had been opened to the global oligarchy we are seeing today. This global oligarchy was also brought about by all the successive waves of deregulation that congress has allowed. We have to remember the financial and market crash of 1987. This was the first calamity resulting from all the deregulation. In just eight hours over 25% of the markets value was lost. This could have been a decisive period where we yet again had a chance to reorganize and stop the shrinkage of the middle class. But what did we do? The power elite allowed Alan Greenspan and the Federal Reserve to usher in programs that brought us into the age of derivatives and reckless abandonment of financial markets. Ultimately this led to a more severe financial crisis that we all know as the crash of 2008.

In 2008 we had another chance to spur economic growth and put in place policies that would prevail in simulating the economies of nations. But, what did we do? The United States government bailed out the very same financial institution that created the worst financial catastrophe since the Great Depression and sent the United States deeper in debt. Since 2008 what every country has been seeing is the income disparity gap only getting wider, millions of people are literally stuck in a financial and economic quagmire, while the rich only have become richer.

What we are seeing today is history on the verge of repeating. Today, as in 1939, we sit on the verge war. Whole populations face economic and financial hardships. Too many have come to realize that their parents were actually better off. The continued downward spiral into stagnation of loss prosperity has seeped into every fabric of society. This is because of our failure to deal with the turn of events that triggered two if not three financial catastrophes one almost right after another. FDR saved this country by initiating national financial reform, starting with Glass Steagall, and continuing through the Reconstruction Finance Corporation, which laid out the national credit by which we rebuilt. We here in the United States again have a chance to usher in reforms toward a similar program of economic growth not just for the top one percent but for everyone. We had better not blow it because if we do the world again will be thrust into an inferno.

What Great Britain did when they voted to exit the European Union signaled that the majority of people realized that the programs and policies of today just aren't working for them. A system that has become the sole source of growth and prosperity only for the power elite. Today's financial and power elitists are just now coming to grips that people are rising up and realizing that the economic order of today has stolen their hopes and dreams of a better future. The exit vote from the European Union was basically a rejection of the type of globalization we have allowed to operate economic markets today. The revolt of working class Britons who have seen their post World War II prosperity vanish maybe just a start of things to come especially with the Bernie Sanders movement in the United States.

We have to realize that Great Britain’s citizens have not only been losing control over their fate to the EU but to their own country’s leaders. They also have been losing their democratic rights because of other Western democracies are increasingly in lockstep with corporate and financial interests. They have come to realize that the powerful financial and corporate world have only continued to dominate their policies and economy. This dominance has diminished the democratic rights of British citizens. The same can be said that too many Americas are faced with a similar scenario.

We had better understand that the media has been playing a power game of their own. In Great Britain the media did not inform them that by exiting the EU workers will no longer be guaranteed the worker rights that came by being in the European Union. The media failed to again inform the population that British corporation will be less regulated which means more environmental damage, more mistreatment of employees and more profits going to the corporate offices. All the while the stagnation of wages continues. The media failed the public by selling out to the corporate world to ensure more profitability for the power elite.

It can be said that the main stream media in the United States has always been in the pockets of the power elite of the establishment. Just look at the bias reporting, misquoting, distortion of facts and plain ignoring the will of the people. It is the media who are controlled by the power elite who shaped this primary season. In Trumps case the money train keeps rolling in and in the Democratic race by fixing the primaries and bias reporting are doing everything possible to keep the status quo.

But, by Britons vote to exit the European Union has played right into the hands of the power elite thinking that by exiting they would gain a better future. That remains to be seen for this exit really didn't go far enough to ensure that future will be brighter tomorrow than today. We in the United States must realize that the media is really no more than a tool of the power elite to ensure that their future is brighter while the rest of us continue on struggling with the status quo. It is up to us to realize that the future belong to all of us and not just the top one percent. Our future begins with implementing National Economic Reform's Ten Articles of Confederation.


England, The Economy, The Eurpoean Union, The United States

Meet the author

author avatar timwilliams
I am a feature writer for The Tampa Bay Examiner and The American chronicle. Earned Ph.D in Economics

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