Obama Administration to Help the U.S. Corporatocracy Exploit Egypt
Memo to the people of Egypt: Look out. This New York Times headline is totally misleading: U.S. Prepares Economic Aid to Bolster Democracy in Egypt.
Tell me if you agree (or disagree) after you read this:
Nearly 16 months after first pledging to help Egypt’s failing economy, the Obama administration is nearing an agreement with the country’s new government to relieve $1 billion of its debt as part of an American and international assistance package intended to bolster its transition to democracy, administration officials said.
Hoping to capitalize on what they see as a ripening investment climate, the State Department and the U.S. Chamber of Commerce will take executives from nearly 50 American companies like Caterpillar and Xerox to Cairo beginning Saturday as part of one of the largest trade delegations ever organized. The officials and executives will urge the government to make changes in taxation, bankruptcy and labor laws to improve the investment climate.
Does the NYT really think that making changes in taxation (i.e., making the tax rate corporate-friendly), changing bankruptcy laws (making them corporate-friendly) and changing labor laws (making it so workers are more easily-exploitable) equates to “bolstering democracy” as the headline says? Really?
So funny. This is about the Obama administration joining with the Chamber of Commerce, who doesn’t give a flying f*ck about workers, and bribing their way into Egypt to make the place friendly to corporations, never mind the people there.
Egyptians, beware. This will end badly for you.
Entry filed under: Corporatocracy.