World Economic Nonsense

The World Economic Forum in Davos, Switzerland this week provides a stage for delusional bloviating by the likes of Jacques Chirac and Bill Clinton. Chirac called for political leaders to take drastic action against poverty and global warming. What action you might ask. Would you believe "international taxes" that Americans would be required to pay on top of federal taxes, state taxes, property taxes, payroll taxes, sales taxes, taxes taxes? Chirac proferred that these taxes would "soften the damage done by the aggressive, U.S.-driven economic globalization." Just gotta love those French. Free trade drives the economic boom in China, India and other developing countries and contributes to the huge U.S. trade deficit, but is viewed by France as a bad thing. See what I mean by delusional.

On second thought, perhaps there is some selfish logic in the European viewpoint. The weak U.S. dollar and trade deficit seem to be problems for our European friends. The Euro at $1.30 is near it's "economically tenable limit for Europe" contributing to their anemic GDP growth. Notice that the Euro elites never think of their repressive tax rates and oppressive business regulations as root causes of their problems. Noooo, the problem is globalization and their solution is even more taxes and even more regulations. Just clamp down on that free trade and everyone will be better off; at least the Europeans.

But we should return to the main topic, helping the third world. Ask the Chinese or Africans what their most serious problem is and you can be assured of their answer: global warming!! Forget about starvation and malaria and oppression, it's that abrupt climate change that has their attention. Sad to say, even our good friend Tony Blair seems to be out to lunch on this subject.

Then there was Slick Willie being interviewed by Charlie Rose and rewriting history as only a Clinton can. Asked about the Iran problem, Clinton paused, lowered his voice and finally admitted that it all goes back to bad U.S. foreign policy. If only we had not supported the Shah, the Islamic theocracy would not have gained power. Of course, Willie forgets about Jimmy Carter's support of Khomeni, the madman, who immediately repaid us by taking hundreds of Americans hostage. (They were released the day Ronald Reagan was inaugurated.) Perhaps tomorrow Clinton will give us the benefit of his ecomomic expertise. I for one can't wait.