-Caveat Lector-
>>Barb Witt wrote:
>>> Two pertinent articles (The Global Hand and Technology Hoax), from the
>>> April 21, 1997 edition of Forbes:
>>>
>>> http://www.forbes.com/forbes/97/0421/5908085a.htm
>>>
>>> Barb
>>
>>Yeah right Barb. Forbes Magazine. The " Capitaist tool." That's a good
>>source for pointing out the disasters of the global econmy.
>>Joshua2
>
>However, if you're going to critique something, it is commonly expected
>that you at least peruse the material and then mention specifics>
>Barb
>
=======
This is from the posted site:
"Capital emigrated, too. British money, instead of staying at home, built
railroads in the U.S. and Argentina, tea gardens in India, and literally
created Hong Kong and Calcutta. In a single year, 1871, London absorbed over
$100 million of American securities; by 1893 foreigners had sent $3 billion
to the U.S.
"National boundaries did not disappear; bloody wars were yet to be fought
over them. But for the first time in history people, money and goods were
able to flow across them quite freely.
"It was as if a giant global hand�kind of like Adam Smith's "invisible hand"
gone international�rearranged the world economy. As Jeffrey Williamson, an
economics professor at Harvard, says of this period, 1860-1913: "Capital and
labor flowed across national boundaries in unprecedented quantity, and
commodity trade boomed."
"The results, in terms of global well-being, were fabulous. Railroad and
steamship technology had made transportation much cheaper"
======
My question is where did the foreign capital come from? Who were the
investors who bought the railroad stocks and bonds in America? What were
their expectations concerning interest and dividends? What happened when
the bonds defaulted?
I submit much of the capital came from illegal trade--piracy, vice, slavery
and opium. That's who founded Forbes. The Forbes, Perkins and Russell
families founded Skull and Bones at Yale primarily, IMHO, to keep their
trade secrets and to recruit people to carry on the operations throughout
the world who would take an oath of secrecy. That's why I tend to discount
much of what Forbes magazine publishes.
Linda
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