By Noam Chomsky
October 2nd 2008; ZNet
This talk was given to the VII Social Summit for Latin American and Caribbean Unit, via video feed.
During the past decade, Latin America has become the most exciting region of the world. The dynamic has very largely flowed from right where you are meeting, in Caracas, with the election of a leftist president dedicated to using Venezuela’s rich resources for the benefit of the population rather than for wealth and privilege at home and abroad, and to promote the regional integration that is so desperately needed as a prerequisite for independence, for democracy, and for meaningful development. The initiatives taken in Venezuela have had a significant impact throughout the subcontinent, what has now come to be called “the pink tide.” The impact is revealed within the individual countries, most recently Paraguay, and in the regional institutions that are in the process of formation. Among these are the Banco del Sur, an initiative that was endorsed here in Caracas a year ago by Nobel laureate in economics Joseph Stiglitz; and the ALBA, the Bolivarian Alternative for Latin America and the Caribbean, which might prove to be a true dawn if its initial promise can be realized.
Continue reading Latin American and Caribbean Unity
Steve Kroft looks at some of the arcane Wall Street financial instruments that have magnified the economic crisis.
It is the height of irony that Government Senator Hazel Manning should be calling for parliamentary privilege to be reviewed. After all, it was her husband, Prime Minister Patrick Manning, who committed a most flagrant abuse of parliamentary privilege last week.
Prior to the commencement of the TT/Barbados Maritime Boundary Arbitration I wrote in March 2004 to former Minister of Foreign Affairs Knowlson Gift advising that T&T should hold immediate consultations with our Venezuelan treaty partner with respect to collaborating on the defence of the maritime boundary that they jointly established by treaty in 1990. Points 1 to 22 of the boundary are illustrated in the chart below.
DEBATES in Parliament are supposed to be about the interests of those who put Members of Parliament there, not to hurl scandalous allegations at individuals in and out of Parliament. In this regard, there is another aspect of Prime Minister Manning’s parliamentary behaviour that needs noting.
On what basis can PM Manning justify spending an astronomical $503m (one percent of the 2009 budget that is equivalent to the sum for the construction of the Tobago power plant) to host the Summits of the Americas and the Commonwealth in 2009 if not to boost his already inflated ego? What diplomatic goodwill and political and economic benefits will accrue to the pauperized people of T&T from hosting these Conferences when we are burdened with a poverty rate of 27%? The poverty gap is widening and pensioners on fixed incomes are ketching their “nennen”.
It’s the kind of story that would get a cat vex or make a donkey want to commit murder. Imagine a young, imaginative entrepreneur, someone who does not possess a “gimme-gimme” mentality, comes into town and tells the world that he will build an empire that would make anything Sat Maharaj ever dreamed of doing look like a doll’s house. He starts a credit union and offers interest rates unlike anything the nation has ever heard; at least, not since the days of International Trust when my mother got burned because of her greed. People began to invest in this credit union and before you could say Pan-Dey it was the hottest thing in town.