Add this Page to Facebook!   Submit to Twitter   Submit to Reddit   Submit to Stumble Upon   Pin It!   Fark It!   Tell A Friend  
Printer Friendly Page Save As Favorite Save As Favorite View Article Stats
3 comments

OpEdNews Op Eds

Globalization is Not a Dirty Word

By (about the author)     Permalink       (Page 1 of 1 pages)
Related Topic(s): ; ; ; ; ; ; ; , Add Tags Add to My Group(s)

View Ratings | Rate It

Become a Fan
  (30 fans)

opednews.com

"Wall Street needs it, Obama brings it" is how  David Weidner of MarketWatch--part of the Wall Street Journal, which is part of Rupert Murdoch's empire--wrote  hours after President-elect Obama's acceptance speech:

If you think Wall Street didn't want Barack Obama to win Tuesday, you've probably been listening to the business media too much. You've probably heard that Republicans are the real friends of business, and that the market was building in a discount because a tax-and-spend Democrat was ahead in the polls.

He wrote further:

During the past 18 months of deep economic tumult, the ultimate cause of failures and losses in the financial world was confidence.

Here are the sad numbers he cites (the Standard and Poor's index involves 500 of most important corporations on the New York Stock Exchange):

As the dominos of doubt kept falling we began to question one another. It was a recipe for panic. On Aug. 11, the S&P 500 Index (SPX closed at 1,305.32. Less than 10 weeks later, on Oct. 27, it stood at 848.92 - a decline of 34%.

Before markets opened in the US on Monday, the 10th, I found what MarketWatch was saying about markets already open:  

China's $586 billion economic stimulus package sparked a rally in Asian markets Monday, raising hopes that Beijing's efforts to boost a slowing domestic economy will support commodity prices amid fears of a prolonged recession in the developed world.

Why I give these numbers is because "globalization" takes them  into account.  As readers here know, Saturday the 15th brings leaders from major countries to a "summit" to discuss what can be done.  So I thought it appropriate to address "globalization."  It's not such a dirty word, once discussed.  What has to be done is find ways for worldwide commerce to play by rules which gives the players a more transparent playing field. 

 

Margaret Bassett passed away August 21, 2011. She was a treasured member of the Opednews.com editorial team for four years.

Margaret Bassett--OEN editor--is an 89-year old, currently living in senior housing, with a lifelong interest in political philosophy. Bachelors from State University of Iowa (1944) and Masters from Roosevelt University (1975) help to unravel important requirements for modern communication. Early introduction to computer science (1966) trumps them. It's payback time. She's been "entitled" so long she hopes to find some good coming off the keyboard into the lives of those who come after her.
Add this Page to Facebook!   Submit to Twitter   Submit to Reddit   Submit to Stumble Upon   Pin It!   Fark It!   Tell A Friend
The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact Author Contact Editor View Authors' Articles

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Making It In America

Speaking of the Unspeakable

How are you making out?

Whatever Became of Dick Cheney?

British Petroleum and Macondo Well

Thank you, Ann Wright and Susan Dixon

Comments

The time limit for entering new comments on this article has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

Comments: Expand   Shrink   Hide  
3 people are discussing this page, with 3 comments
To view all comments:
Expand Comments
(Or you can set your preferences to show all comments, always)

Globalization can mean different things. It can co... by Mr M on Monday, Nov 10, 2008 at 2:28:45 PM
The Bank Of International Settlements - The BIS. ... by Brad Evans on Tuesday, Nov 11, 2008 at 4:51:15 PM
Sovereignty and nationhood are two concepts which ... by Margaret Bassett on Tuesday, Nov 11, 2008 at 9:11:40 PM