$ 700b bailout package not to help US economy- Government as well as masses failed to identify real problem
Islamabad: Pakistan Economy Watch has said that approval of 700 billion dollar bailout package will not bring any long-term improvement in the moribund US economy. The short and undefined bill may help some institutions and powerful individuals in the Wall Street but it is not expected to boost the world’s No. 1 economy in the long run.
Actually, the government and masses in the US have not identified the real problem therefore the efforts to resolve it will not work as desired, said President of Pakistan Economy Watch, Dr. Murtaza Mughal. “The people and markets of America have lost faith in the policies of President Bush and in the capitalist system which is the real problem,” he said.
The government that played havoc with its own economy should not be expected to fix it through bills and packages. The reason behind dwindling confidence is the so-called war on terror that was initiated on the behest of mega oil companies who were eying the resources of central Asia and Middle East. This war has drained resources of US and inflicted great political as well as financial losses. “The whole Bush administration has interest in oil business, majority has served in oil companies and now these corporations dictate their policies which has made world an unsafe place,” said Dr. Murtaza Mughal.
The real beneficiaries of the deal were military contractors for few years but now their bills worth billions of dollars are pending. The Bush family has also interests in military supplies trade. The earlier US efforts to bailout economies of other countries have never worked and now the people in America will enjoy the fruits of the policies of White House. Americans have been cheated a lot; now they cannot be jockeyed in the name of so called war on terror.” -Pak Economy Watch
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