Friday, January 03, 2014

History will not accept lies.

In 1946, after World War II ended, Britain hanged William Joyce as a traitor. He had not fought against the Allies or killed anyone. He used to broadcast a Nazi propaganda program called ' Germany Calling ' from Germany to Britain and the US over the radio. He had been nicknamed Lord Haw-Haw because of his plummy accent. Lying to the people and causing grave damage to the nation on the orders of a foreigner is a much greater offence than simply broadcasting propaganda. HSBC Purchasing Managers' Index fell to 50.7 in December from 51.3 in November. Although anything above 50 means growth it is nothing to boast about. " Manufacturing activity decelerated slightly in December as a slowdown in domestic order flows led to slower growth output," said Leif Eskesen, Chief Economist at HSBC. Despite reducing interest rates on bank loans consumers are borrowing less. People normally borrow for expensive purchases such as houses, cars or high end televisions. What really concerns the Congress is the slowdown in the property sector as most of the economic growth under this government came from a massive construction boom caused by a gigantic price bubble. Although inflation and the fall of the rupee means that properties should be relatively cheaper than before, rising prices of imports and high taxes are making properties too expensive for those without access to vast amounts of black money, such as politicians, police and civil servants. The whole industry is totally dependent on cheap, even slave, labor which is why no politician will ever talk about reducing population. It is a simple matter of supply and demand. The more the numbers of the poor the less is their bargaining power and the easier they are to exploit. Vast numbers of poor people in developing countries enables multinational companies to slash labor costs by shifting manufacturing away from rich countries. As jobs have shifted away from richer countries workers there have lost bargaining power, unions have virtually disappeared and the middle class has seen a fall in living standards even as the super rich have become richer. Thus the exploitation of the poor leads to exploitation of the middle classes in the rich countries. Can such immense damage to the people be wiped out with lying excuses?

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