Tag Archives: Globalization

Corruption, Economics, Finance, Globalization

New Global Financial Phenomenon: from Poor Candidates to Rich Leaders…….

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All the recent talk of the Panama Papers and hidden wealth. It is, as I once observed, the tip of a huge global iceberg.

In the old days, three or four or five decades ago, when an Arab or Muslim leader (not a monarch) died or left power, he left behind only his personal belongings and (maybe) his pension. That was the case with Gamal Abdel Nasser in Egypt, Qassim of Iraq, Ben Bella of Algeria, and various other leaders. The same was true of American leaders: Truman and Eisenhower did not leave office as very wealthy men. In fact nor did Nixon. But that was then. Things are different now, especially in the past two decades.

Now there is one thing that most Middle Eastern leaders, especially Arab leaders, have in common with modern era American presidents  and with many European leaders of the past two decades. They all have the same thing in common with other Muslim leaders and with African leaders and with Latin American leaders and Chinese and Russian leaders.
Know what it is? They all leave office as very rich people, much richer than before they took office.

Americans call it “looking for number one“, and they don’t mean “the people“.  That is one risk they take when they seek office. It is a by-product of the globalization of many things, especially greed and corruption.
Cheers
Mohammed Haider Ghuloum

Africa, Caliphate, Finance, Terrorism

Season of the Caliphate: ISIS Goes Global, IPO Expected Next Year……

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“Teaming up with Boko Haram was just the start. ISIS is extending its reach around the planet. Here’s how they’re doing it. Boko Haram isn’t about to become a mere extension of ISIS, despite a purported pledge allegiance to the self-proclaimed Islamic State this weekend. Instead, ISIS is likely to offer resources, training, and its brand so the Nigerian terror group can create a distinct province within an Islamic caliphate, experts and U.S. officials told The Daily Beast. It’s a model that ISIS is increasingly adopting as it attempts to spread its reach around the planet………….”

It is the ISIS or DAESH bandwagon these days. Every statement by support or allegiance from any outhouse (American not English outhouse) in any corner of the planet is headlined and echoed. We’ve been told the momentum is with the cutthroats, that the Middle East is quaking. From princes and potentates in their palaces to the political prisoners they throw in dungeons.
ISIS is more of a celebrity now than Hillary Clinton and Oprah and Bibi Netanyahu (in Washington and Las Vegas) combined.

Wait, there is more now. Apparently they are learning about the joy of globalization. From Iraq and Syria to Libya, Sinai, African Sahel, and Pakistan. Oh, and cities of Europe. The Hollywood-esque Caliphate of ISIS is going global. It is only a matter of time before they go public, schedule an initial public offering, an IPO, be listed on either NYSE or NASDAQ. The Caliph Ibrahim Al Samarrai could make a killing (no pun, honestly) from his share of the stock. If it can last this year or next, which now seems doubtful. They are finding out that globalism can also be not-so-joyful. They will learn more about that once financial sanctions are imposed on them……….

Mohammed Haider Ghuloum                          Follow ArabiaDeserta on Twitter
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Economics, Finance, Globalization, Pacific, U.S. Politics, US Foreign Policy

Corporation Democrats and Globalization from Obama to Clinton: TP the TPP?……..

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“President Barack Obama is ready to buck his liberal base in order to advance the Trans-Pacific Partnership (TPP), the pro-corporate international trade deal currently being negotiated in secret by the United States and 11 other Pacific Rim countries……..”

It is the corporations, stupid.
There was a time when it was true that what was good for corporate America was good for mainstreet America. Not so much anymore. Now what is good for corporate America is mainly good for the large shareholders and for the club of CEOs of America in this age of bonus-hunting by management. The real shareholders matter, not the average Jane with an IRA, as they try to tell us on the financial networks.

If you want to know what American corporations probably prefer the ideal state of American labor to be, look at China, India, and some Latin American countries. Well, a mild exaggeration to make the point perhaps, but not by much. A huge lower lower middle class enshrined in a permanent American class society the like of which has not been seen in more than a century.

Mr. Obama is in many ways like ALL other American presidents since Ronald Reagan. He is a corporation president, even though the U.S. Chamber of Commerce strongly campaigned for his Republican rivals (that was just a matter of comparative preference). His party aspires that he will be followed into the White House by the two most corporatist Democrats available in decades: Hillary and Bill Clinton.
Given the country’s well-financed shift to the right, those two might be the only Democrats who have a chance to keep the White House for their party two years from now.
Cheers
Mohammed Haider Ghuloum

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Britain, Culture and Sports, GCC, Globalization

Globalized Thieves of London………

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“UAE risk map calls Oxford Street, Soho and Piccadilly districts ‘dangerous’ after recent attacks but police insist crime has fallen. Scotland Yard insisted on Wednesday that there was “absolutely nowhere” in London that should be avoided after the United Arab Emirates advised its citizens against visiting certain “hazardous” and “less secure” parts of the city centre, including some of its most popular tourist destinations.……….. Using Google maps, areas identified as dangerous under the UAE guidance were Marble Arch tube station, running north to Edgware Road and beyond the Metropole Hotel, as well as an area including Piccadilly, Bond Street, Soho, Leicester Square, Oxford Circus and Tottenham Court Road……………“

Bustling West London has been a notorious place for robbing Arab and Middle East tourists. Especially for Gulfies who are seen as rich (not all are) and hence easy prey. London is the only Western capital I was ever robbed in: in fact it is the only city anywhere I was ever robbed in, and I have been to many cities and towns around the world. Mainly pickpockets and credit card fraud in my case: they see the name and bingo, easy prey. Not anymore, that was two decades ago.

Of course this does not mean the thieves are necessarily ‘English’, very likely not. I also get funny emails offering to share millions with me, mostly from London, but the offered easy money is usually Nigerian. Thievery, like its corporatist sister, has been globalized.

Cheers

Mohammed Haider Ghuloum