Left-winger Humala wins Peru election, markets plunge

[Bacchus39]

http://news.yahoo.com/s/nm/20110606/wl_nm/us_peru_election;_ylt=Atj5XIBaLbSFzTsq2_GewN5vaA8F;_ylu=X3oDMTJoNGxndXZxBGFzc2V0A25tLzIwMTEwNjA2L3VzX3BlcnVfZWxlY3Rpb24EY3BvcwMxBHBvcwMyBHNlYwN5bl90b3Bfc3RvcnkEc2xrA2xlZnQtd2luZ2VyaA--

LIMA (Reuters) – Left-wing former army commander Ollanta Humala won Peru's presidential election and vowed the poor will share in the country's new wealth but financial markets plummeted on fears that he will ruin the economy.

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Investors worry that Humala will increase state control over the economy and throw away fiscal discipline, and there was heavy selling of Peruvian assets on Monday morning.

Peru's stock market sank nearly 9 percent at the open, prompting authorities to halt trading, while the sol currency fell 1.2 percent.

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Peru, one of the world's fastest-growing economies over the past decade, is a major metals exporter but a third of its people are stuck in poverty and Humala campaigned on promises to spread around more of the country's new wealth.

[Peace Patriot]

1. Leave it to Rotters to find the downside of a great victory for the poor!

I don't call them Rotters for nothing.

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60% of Peruvians live on $3 A DAY. That's what "neo-liberal" (corporate ruler) development does--leaves most people in stark poverty. Leftist development, on the other hand, "raises all boats"--the most dramatic example being Venezuela, which maintained sizzling economic growth of 10% for five straight years (2003 to 2008) and has maintained social program spending throughout the Bushwhack/Wall Street-induced worldwide Depression, and thus was recently designated "THE most equal country in Latin America," on income distribution, by the UN Economic Commission on Latin America and the Caribbean.

Venezuela has cut poverty in half and extreme poverty by over 70%, has doubled college enrollment, has wiped out illiteracy, has dramatically reduced infant mortality (key health indicator) by providing free health care to the poor and has maintained low unemployment, among other progressive policies, but more than this, it has created society in which the people themselves rate their own country among the best in the world on criteria of democracy and happiness (general feeling of well-being and hope for the future). A society like Peru, with a vast underclass that is NOT benefiting from economic development and that is mired in poverty and hopelessness, cannot advance and WILL deteriorate and even collapse--as so many countries inflicted with "neo-liberalism" in LatAm have experienced.

This democratic corrective--the rise of an advocate of the poor to the presidency--was badly needed in Peru. True, it might curtail some of the plundering of Peru's resources by transglobal corporations (and their agents in the stock market) but this will benefit Peruvians and theirs and the region's long term well-being, prosperity and independence. And what benefits most people will benefit sustainable business and trade.

The problem with the "blue-eyed wonders of Wall Street" (as Lula da Silva called them) is that transglobal corporations, World Bank/IMF banksters and the super-rich are on a very destructive and, indeed, suicidal course. They are "killing the golden goose" wherever they can get their vulture talons into economies and governments. The "golden goose" is first of all LABOR--a well-educated, healthy, motivated work force--also, the infrastructure and services created by a DECENT society, and the environment (Nature's abundant but fragilely balanced resources). These are the producers of wealth. All are being ravaged and looted by the "blue-eyed wonders of Wall Street"--frenzied profiteers fueled by rightwing ideology. This has been evident in Latin America for more than a decade, and is why so many leftists are winning elections--in Venezuela, Brazil, Argentina, Bolivia, Ecuador, Uruguay, Paraguay and now Peru, in South America, and also in Central America--and it is becoming evident in the U.S. itself. When you "kill the golden goose," you ultimately kill business, trade and profit.

But I wouldn't expect Rotters or any of the corpo-fascist press corps to provide any understanding of WHY Latin America is going leftist and why and how those leftist policies are producing PROSPERITY and A BRIGHT FUTURE for the REGION, and why Peruvians would want to join that regional revolution. Rotters and brethren are the propagandists for the LOOTERS.

[Bacchus39]

2. thats what happened, its news. it shows the business community isn't confident with Humala

sorry you don't like to hear reports on actual events.

[Peace Patriot]

3. Wall Street ain't the "business community." It's the speculators and looters. nt

[Bacchus39]

4. it was the Peruvian market, not Wall Street n/t

s

[Peace Patriot]

5. "Brazilian enterprises likely to invest over US$5.5 bln in Peru"

Lima, Jun. 05 (ANDINA). Large, medium and small sized enterprises from Brazil would invest over US$5.5 billion in Peru during the next five years thanks to the strengthening of bilateral relations, Peruvian Economic and Commercial Counselor in Brazil Antonio Castillo said.
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=405x52779

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You just have no clue what I'm talking about, do you? A united, cooperating, south-south trading, social justice-minded Latin America DOESN'T NEED "Wall Street" and its phony "business community" (looters and speculators). It is on the move, with REAL development--development controlled by, and conducted in the interest of, Latin Americans.

"Wall Street''s wealth is ILLUSORY. It is built on NOTHING--and, lately, less than nothing! Betting on people, who have been looted and squeezed to the hilt, NOT meeting their mortgage payments--then "selling" those bets! That is NOT "business." That is CRIME. And it is typical!

The so-called U.S. "business community" is actually a traitorous, transglobal PONZI SCHEME.

I am a capitalist, believe it or not--or rather, I support non-predatory, non-monopolistic capitalism, because I think it fulfills a human need for a REAL marketplace--a place for variety, creativity, enterprise, culture exchange, making and selling products, travel, mobility and entertainment in its widest sense--and I think it fulfills a human need to pool resources for a "common good" purpose.

What we have today--in what you call "the business community"--is NOT capitalism. It is LOOTING. Looting of good businesses. Looting of workers. Looting of society. Looting of government resources. Looting of savings & loan institutions. Looting of banks. Looting of homeowners. Looting of credit card users. Looting of "the commons." Looting of Nature. It produces nothing of use to anybody, and loots EVERYTHING it gains control of.

Latin America is uniting against this Big U.S. Corporate Looting Expedition--and their region will survive and prosper, while ours declines. They are achieving their independence, at long last. And we, the people of the U.S., have lost ours. We are the chattels of Corporate Rule, consigned to the misery of paying for their bailouts and their oil wars, while they evade taxes and write all our laws--and go on their looting expeditions elsewhere. We are no longer an enterprising nation. We are no longer a democratic nation. We are a LOST nation. Corporate Rule has done us in. And, frankly, I don't see a lot of hope that we can recover our creative, enterprising, product-making, well-educated, well-paid, rambunctious and progressive country. The corporate predators run everything--even the voting machines with their 'TRADE SECRET' code! --while the Mad Tea Party running dogs and the corporate media brainwash people that Wall Street = business. Just let the dogs eat the dogs, and all will be well!

Gawd!

"Brazilian enterprises likely to invest over US$5.5 bln in Peru"!

Latin American countries are HELPING EACH OTHER. Their philosophy is "raise all boats"--internally, as to eliminating poverty, and between peoples and countries.

What are the chattels of "Wall Street" doing? The U.S., the U.K., the EU? LOOTING each other--internally and between countries. Why? Because there aren't any countries any more in these places. There are only transglobal corporations, banksters and war profiteers--and they have no loyalty to anybody.

You call this "the business community"? It is NOT. This is the "drive people OUT OF BUSINESS" 'community'"--a 'community' of very rich criminals who destroy small businesses (THE biggest employer in the U.S.), who deliberately go about the world crushing local farmers and destroying their markets, who loot pension funds, who don't pay taxes anywhere, who rip off local infrastructure without paying for it and then rip it off again by "privatizing" it, who acquire billions of dollars in government contracts for doing nothing, who outsource billions of jobs to the cheapest, most unprotected labor markets they can find (child slave labor in Asia!), who make money speculating on the failures that they have created, and whose unproductiveness, cruelty and greed are unprecedented in modern history--and are furthermore ruinous and suicidal.

Sorry, but this is NOT business. And this is NOT capitalism. This is CRIME. And "Wall Street" is its most visible criminal mechanism and symbol.

"Wall Street" is NOT some kind of objective measure of reality. It is CONTRIVED. The big stock firms MANIPULATE it, to try to fulfill their fascist prognostications and DICTATES. And they fail and fail and FAIL--especially on Latin America, because they, like you, have no clue what is happening there, or possibly know well what is happening there but DON'T LIKE IT and don't want others to know about it. They DICTATE "austerity." Latin American countries ignore them. And guess who best survives their induced Depression? Those very Latin American countries who told "the blue-eyed wonders of Wall Street" to go jump in a lake! Brazil and its leftist allies! THEY are prospering. And Peru will now have a chance to benefit from that cooperative regional venture of "raising all boats"--not sinking the weak, not ripping off their resources and enslaving their people, not viciously competing to be "No. 1," not buying off a rich elite and abandoning everybody else. Raising. All. Boats.

"Wall Street" up's and down's are BUNK. They are an illusion--a manipulated illusion. They cannot predict--and have not predicted--anything real in Latin America. And their bullshit prognosticators will not abide the PROSPERITY of Latin America which is resulting from Latin America's declaration of independence from Wall Street!

[Bacchus39]

6. I have no problem with Brazil investing in Peru

or having a regional political body without US participation. the article says Peru markets fell because the business community has no confidence in Humala and think he is going to Chavez the country.

[joshcryer]

7. We'll see if Humala goes far left, given the narrow win, it's unlikely.

You can see his gradual move to the right over the years as an indicator.