don't blame the poor old tanzanians,they feel threatened economically by Kenyans.It is understandable ,they can't argue rationally, so far all they have been arguing about is how proud and arrogant kenyans are, no empirical or technical evidence against EAC, it is obvious these brothers suffer from serious bout of low self esteem,hapless folks have been overtaken by Ugandans who were ten times poorer than Tanzanians in 1986 but are doing better than Tanzanians now.Tanzanians you are east africa WEAKEST LINK.
MNAJIFANYA NG'OMBE MKAMULIWE NA NANI?[/QUOTE
Seems you don`t understand how this world evolves and rotates huh !!!Is it from east to west,as you have been taught ? Think again,utajiona mpumbavu kupindukia.Just a hint,how this world`s economy is being run,read this :
http://www.monitor.co.ug/inspol/inspol10258.php
TEDDY SEEZI CHEEYE
Big lessons from Confessions of an Economic Hit Man
When IMF team visited Uganda for the first time shortly after NRM had just taken over power in 1986, and found that Uganda did not have economic figures it needed as a pre-requisite for lending, a friendly leader of the IMF team, a Kenyan, advised his Ugandan brothers to cook up some nice economic figures, because there was no way IMF could lend Uganda money without figures. The Ugandan team retreated in the kitchen and did a wonderful statistical spicing. Economic growth rate was put at a pleasing percentage.
Now, an international word-of mouth bestseller book by John Perkins Confessions of An Economic Hit Man: The shocking inside story of how America REALLY took over the world Ebury Press, 2006, reveals the shocking truth: False and exaggerated economic projections are given in order to justify why poor countries should be lent huge credit loans, which in return are used to award big jobs to companies from donor countries, and consequently enslaves the borrowing countries and their people, to the lender countries.
According to Perkins, Economic Hit Men (EHM) are highly paid professionals, who cheat countries around the globe out of trillions of dollars. They funnel money from the World Bank, USAID and other foreign donors into the coffers of huge corporations and the pockets of a few wealthy families who control the planets natural resources. Their tools include fraudulent financial reports, sex and murder. They play a game as old as empire, but one that has taken a terrifying dimension during this time of globalisation.
Mr John Perkins, 60, who graduated from Boston University College of Business Administration in 1966, comes from a family tree of American nationalists traced to Thomas Paine who published the famous historical common sense which encouraged the American War of Liberation. The book on EHMs is Mr Perkins story. He was a successful EHM, who decided to confess his sins in order to be at peace with him-self.
From the time he was enlisted, he was emphatically told that his mission was to be an Economic Hit Man, and that no one, not even his wife was to know his involvements. Specifically his job was to encourage world leaders to become part of a vast network that promotes USA commercial interests. In the end those leaders became ensnared in the web of debts that ensures their loyalty.
The USA Government can then draw on them whenever it desires to satisfy its political, economic or military needs. In return the enslaved world leaders bolster their political positions by bringing industrial parks, power plants, and airports to their people. The owners of USA engineering and construction companies become fabulously wealthy. The EHM is however just a footman, if he fails an assassin (a jackal) steps in. If the jackal fails, the USA military mighty invades.
So now we know why presidents of weak countries become docile towards American dictates. If the EHM succeeds like they have succeeded in Uganda, they falsify economic indicators: economic growth becomes one of the best in the world.
The GDP tremendously improves. Poverty levels are artificially reduced. As the economy gets ENRONISED, it is globally categorized as a model development state. It is rated AAA or BB+ and the donors pour in huge loans. Big corporations from the donor countries follow to do all the major donor- funded programs.
In Uganda for example, foreign consultants earn more than 95% of the $300 million in annual technical assistances while local consultants get only 5% ($15 million). During this period, the new neo-colonizers (EHM) do not stay in the old former Colonial Governors administrative offices and residents.
The EHM digs his trenches in Bank of Uganda and in the fortified Boardrooms at the ministry of Finance, Planning and Economic Development. EHM are more sophisticated. They come as Executives of Monsanto, General Motors, Nike, Citi Group, Wall Mart, General Motors or Commonwealth Development Corporation (CDC) owners of our DFCU Bank. These days they come under the guise of leaders of religious groups, and then, ask for contracts or business deals. If EHM are successful, the loan is so large that the debtor is forced to default, and is blackmailed to pay with his pound of flesh.
But if the EHM meets a hard nut to crack, a nationalist President of country X, the assassin steps in. That is how some nationalists presidents were either overthrown or killed: In 1954, Guatemala nationalist President Jacob Arbenz was invaded, his city bombed by American air force and assassinated.
In 1973, Chiles nationalist President Allende Salvadour, who had just been democratically elected was overthrown in a CIA-engineered plot. He was killed in a bomb blast. Jaime Roldos (Ecuador) was killed in plane crash May 24, 1981, and Omar Torrijos (Panama) was also killed in plane crash July 31,1981.
If the jackal fails like they did with Fidel Castro or Sadam Hussein, the USA military mighty and its allies invade the country, take the president of that country as prisoner of war (President Manuel Noriega of Panama, was taken prisoner in 1984 and sentenced to 40 years by USA courts). In the case of Iraq, USA sent in a total of 500,000 soldiers.
After destroying the economy of the invaded country, USA then proceed to approve astronomical sums in re-construction of the vanquished country, and give major construction jobs to USA companies with ties to members of the ruling clique.
The success of EHM is measured by how much a country is economically messed up, especially in squandering its resources such as oil. In 1968, an American Oil Company discovered huge oil deposits in the Latin America Republic of Ecuador. Today oil accounts for nearly half of Ecuadors exports. A substandard Trans-Andean oil pipeline built at that time has since leaked more than 500,000 barrels of oil into the rain forest.
Today a new $1.3 billion, 300 hundred mile oil pipeline connecting Ecuador to USA, will make Ecuador one of the top ten countries supplying oil to USA. Despite past and future fortunes, the EHM have ensured that Ecuador is actually worse than before the oil bonanza. Since the oil boom of 1970, poverty levels have worsened from 50% in 1970 to 70% as of now.
Unemployment rate worsened from 15% to 70%, public debt increased from $240 million to $16 billion and the resource envelop allocated to the poorest segment of the population decreased from 20% to a miserable 6% in the same period (1970 - 2005).
Mr. Perkins was a top official with an international American company called MAIN, which dealt in consultancy and huge construction work. Perkins main work involved two key roles: One was to justify reasons for lending huge sums of money to countries deemed suitable, and ensure that the huge loans were funneled back to huge USA corporations.
Secondly he formulated dubious economic projections, which would end up bankrupting borrowing countries. Specifically he would falsify figures showing that particular projects or programs would contribute to enormous GNP growth of a country covering say 20 to 25 years in future. Even when huge economic development benefited only few people, it would be shown as if the whole country would grow richer.
In Indonesia, he was asked to project electricity power demand growth of between 17% and 20% annually even when the realistic rate was between 7% and 9%. How does USA manage to lend so much money, which is normally never paid back, and end up written off? Perkins explains that USA has managed to become new super imperialist power because it prints the dollars, which is not backed by any thing.
The USA Mint has the right to print all those dollars. The current USA financial powers can last as long as the Saudis, the Japanese, Chinese and European Union continue to invest in the USA Government bonds and accept payment in printed dollars. If in future the above economic power blocks withdraw their faith in the USA printed dollar that will be the end of the Americas dominating financial powers. (page 212)
But not everything is moving on like a matter of clockwork. The CIA-backed Shah of Iran was overthrown. After reading the book one feels tempted to doubt the flowerily economic growth rate Bank of Uganda and other Government officials have been telling Ugandans to believe. With good reasons.
It is simple economics that economic growth rate which is far below interest rate lead to bankruptcy. How come for example, that while Uganda has been registering impressive economic growth, it has, at the same time become more indebted?
