New World Order University Forum

NWOU is keenly interested in the current struggle between economic nationalism and free-trade globalism in Europe. How national leaders align on this issue may mean the difference between national freedom and identity and European identity under EU tyranny.

Cafebabel has a brief state-by-state overview of national attitudes toward industry protection and takeovers. France’s Sarkozy is emerging as a leading protectionist. EurActiv believes that Sarkozy’s support for loans to troubled French automakers is causing a protectionist crisis in Europe. Sweden weighs in as a strong EU advocate against national economic policies. euobserver reports that France and Italy are cooperating on new nuclear power initiatives, and Sarkozy is worried about U.S. agriculture subsidies.

Bailing out Italy may lead to an East-West, poor vs. rich nations split in the Eurozone, according to Philippa Runner. Things get really complicated when you try to do away with national economies and set up free trade agreements.

euobserver sees trouble ahead, meaning European disunity, and blames the crisis on “capitalism.” Single-focus worldview analysis is always superficial.

Yahoo!News outlines the World Trade Organization agenda for the upcoming G20 meeting. A globally coordinated agreement on New World Order financial arrangements takes time, and NWOU wonders whether time favors the globalists or the nationalists? The need to coordinate so many interests was probably the reason for Treasury Secretary Geithner’s disappointing introduction to Congress and subsequent stock-market selloff. Wall Street believed Obama’s promises that Geithner had a plan to deal with U.S. banks, but when Geithner revealed he had no plan, Wall Street went into “tea party” rebellion. Geithner’s dithering led to millions of dollars in stock market price declines. Obama’s economic team has been involved in the economic crisis for months before he took office, so why couldn’t they come up with a plan for the banks? Probably because Europe is splitting apart and China is reluctant to support more Democratic big-spending, big-debt initiatives. As a globalist, Obama has to cooperate with WTO calls for a unified global response to the crisis.

The Telegraph reports that Ireland’s debt is becoming a crisis, and Germany may be persuaded to bail out Ireland.

But the globalists can’t think of anything else to do besides pour more stimulus money down the debt well. Spending $9 trillion hasn’t worked so far to shore up bad banks, stop the housing price decline, slow down mortgage default rates, bring up stock market prices, stop nations around the world from entering recession, lower the unemployment rate, stop corporations from reporting lower future profits, stimulating world trade, or reinflating the credit bubble. In fact, banks around the world today have more exposure to credit default swaps than they did a few months ago. England is nationalizing its banks. Interest rates around the globe are close to zero. The spectre of debt default hangs over the world as debt issuance continues to increase at a dramatic rate. How can the global financial system reinflate and gain confidence when global economic production is shrinking?

The nationalist reorientation may soon switch from industry preservation to bank preservation. GlobalResearch has a short article on the European bank problem. The Telegraph analyzes the pressure on Germany to bail out EU member nations’ bad debt, at the cost of higher unemployment in Germany. This may mark a reversal of policy from just a week earlier, when the World Socialists reported that Germany was pursuing protectionist measures for its industries.

The existence of a multi-national financial system divorced from the true economic interests of local peoples can only lead to criminal exploitation. NWOU hopes the people of each country will oppose propping up a corrupt system with more debt so that irresponsible bankers can be bailed out. Let the nations do their best to preserve some national assets so that each nation can preserve some economy in the interests of its people.

What influence do the people have on current arrangements to restructure the global financial system into a global financial tyranny? Probably not much, but at least there is a little street action in the U.S.

Tags: European Union, G20, global economic crisis, global financial system, tea party, World Trade Organization

This entry was posted by Director on Thursday, February 26th, 2009 at 6:42 pm and is filed under European Union, Global Economy. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.