Posibilidad Latin America Update June 12, 2006

Bolivia Nationalizes Oil and Gas

Nobel Prize winner Joseph Stiglitz says Bolivia did the right thing when it nationalized its gas industry. With the second largest gas reserves in Latin America after Venezuela, neoliberal, free market economics dominated the way business was done in the country before the advent of Evo Morales: Bolivians suffered as a result. The once World Bank chief economist said that free trade agreements have a
negative effect on Latin America.
On Democracy Now! Eduardo Galeano, an Uruguayan social critic, touched on one of the main problems facing millions of human beings throughout the planet: “It’s a sad story. A daily sad story. I wonder if our time will be remembered as a period, a terrible period in human history, in which money was free to go and come and come back and go again. But people, not.” He’s referring to the more than $2 trillion that moves around the world daily reaping huge profits for those who dominate financial capital and who speculate with it.


On immigration legislation which the Senate just passed Bush lostout on the number of Guest Workers with the majority of Senators voting to cap the number at 200,000 down by half from the bill that came out of a Senate Judiciary Committee. Yet S2611 demands that some 2 million undocumented people leave the country if they’ve been here less than two years. It doesn’t make any sense, it’s unenforceable and it will only mean that they hide in the “shade”.

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