(the daily travesty)
18 april 2000
this is the 71st time that we have invaded your
mailbox.
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"Protests against Capitalism"
This is an interesting new kind of movement -- one
not directed at the government, but rather at the usually-invisible systems that operate the money, resources, etc., behind the
scenes. One of the flaws of US activism has
long been its traditionally directing almost all
of its energy at the government and not, for
example, the banks.
Eric Francis
Should Third World debt be canceled?
The prime issue for many of
the demonstrators in Washington, as well as representatives from developing
countries, is debt forgiveness. Economic development in many of the
world's poorest countries is paralyzed by a crippling $350 billion debt burden,
the bulk of which is owed to the IMF and World Bank. Many of the world's
40 poorest countries spend a considerable portion of their GNP (which in many
cases is smaller than their debt) simply on paying the interest owed. It's a
point of consensus now between all but the most diehard conservatives that
without significant debt relief, billions of the world's poorest people will
remain mired in poverty. Not only is the debt devouring resources that
could be used for funding basic health, nutrition and education where it's most
desperately needed; most of those countries aren t showing signs of turning
their economies around to the extent that would ever make the debt collectible.
I would like to accredit the entire content of last
issue to badass Tucker Lieberman.