Capitalism is dumfounded! Loss of two tall buildings, four planes, and some property and around 5000 human lives in terms of GDP is very insignificant for a prosperous country like USA. Such losses keep on happening very often either due to hurricanes, tornadoes and/or earthquakes. What is worrying the managers of the capitalist’s world are the challenges thrown before the onward march of the destructive Chariot of world Capitalism at the dawn of 21st Century.

Japan was one of the main competitors of USA in the world market till 1980s; consumers in USA liked Japanese electronic goods better than their home products. Japan’s cars were cheaper and better than those of USA and people liked them and USA cars failed to compete in its home market. However, the situation changed radically since 1990s and today Japan is shattered economically. Despite repeated attempts to restore the health of Japanese economy by applying both monetary and fiscal tools, the economy has failed to respond and everyday unemployment in Japan is going up and up.  They say it is around 10 percent and everyday it is going up. Bank rate is Zero percent and there is huge deficit financing to inject purchasing power but neither there is any fresh investments nor any change in the demand scenario from the economy. People prefer to keep liquid cash rather than investing elsewhere. Lessons from Japan are quite frightening for housekeepers of US economy. During last 11 years Japan failed to respond to any economic antibiotics.

Before 11th September 2001 attack on USA’s arrogance and vulnerability, the economy was showing all the symptoms of recession and downslide. Conventional monitory instruments like reduction in bank rate was used continuously and it went down from 6.5 percent in January 2001 to 3.5 percent in September 2001, but without any visible change in the economy. Unemployment went up to 5 percent and more and more units applied for bankruptcy liquidation. Stock exchanges are in utter mess. USA President wants to use fiscal tools to bridge the crisis. He has asked for reduction in tax rates as promised during election campaign and higher public spending next year that could reach as high as $ 130 billion- 1.3 percent of GDP. That is why USA was in a hurry for further globalization through WTO. Seattle experience of WTO is quite miserable for USA’s economy managers. Doha meeting, if at all it is held in November 2001, is bound to be a big failure!

In this scenario of declining demand and excess capacity oppressed recession, 11th September attack has given a new lease of life, a new hope to the world capitalists to revive their slowly decaying economies. When USA and Japan were in economic doldrums they requested European Union to reduce bank rate, but it refused to cooperate. Now Great Britain is a big champion of world’s anti terrorist movement. In the name of anti- terrorist war they are interested first to destroy Afghanistan, then to retain it as another colony as they have in different parts of the world.  Afghanistan, a new address of world’s capitalists, will be used to monitor the oil rich Middle East and natural resources rich Central Asia. They have already one in Israel; the second one will be in Afghanistan, so that the exploitation of petroleum by MNCs is kept flowing till it is exhausted. Middle East does not belong to so many sovereign countries; it belongs to these international ‘Capitalist gangsters’. British Prime Minister has admitted that they are determined not to repeat the mistake they committed in the nineties after throwing out USSR from Afghanistan and planting Talibaan on the throne of Kabul. The people of Afghanistan will have no choice of their own! Since the 1st World War these imperialist countries have destroyed billions of dollars worth of property and killed millions of innocent people in different parts of the world.

11th of September, 2001 is a crucial day for them and they don’t want to miss this golden opportunity, rather they are very glad to exploit this opportunity to expand their command and control over South Asia. They know fully well that capitalism has already reached a crucial stage from where they can’t make a U turn. Bill Gates, Paul Allen and Warren Buffet, these three men  own assets equivalent to those owned by 600 million people in world’s 48 least developed countries. 49 of the 100 wealthiest and most powerful institutions in the world are not Governments but Corporations and they control 70 percent of world’s trade and 80 percent of the world’s foreign investments. Oppressed nations suffering from untold destitution and diseases are getting fed up and  patience  of their millions of people is coming to an end. They want to destroy capitalism and its propagators. USA knows it very well and can read the bold writings on the wall. Anti-war, anti-G-7 demonstrations are held not in Muslim dominated areas of the world, it is more violent in USA and European countries. Imperialism of the eighteenth century in the crude and shameless form is manifested by this attack on Afghanistan or broadly on Asia in the darkness of moonless night of 7th October 2001.

II

Indian market is nurtured carefully mainly to serve the interests of world capitalists. Our feudal lords and rich merchants ( they are pygmies and cannot be compared with world capitalists) always played the role of dalals or commission agents of multinational corporations.  When they do business with MNCs as per our laws they call it in sophisticated language as ‘joint ventures’ but in real terms they are only commission agents. Since 1990s, the scene has changed and now foreign masters have come to the forefront and taken over control of the market of one billion and odd population. Result is, in only ten years the Indian economy has turned  into an utter mess and with every passing  day it is moving from bad to worse. Let us forget for the time being, corruption at high places including highest judiciary of the country and condemnable inefficiency in Governance of the country by all the mainstream political parties of the country. Even then the chariot of Indian  brand capitalists has come to a grinding halt.

No one can blame the monsoon, it has been extremely cooperative during the last decade; FCI godowns are overflowing and only rats are having nice time. Retail stores are full with both durable and non durable consumer goods. There is no customer to purchase cereals offered in PDS (public distribution system) at BPL (Below poverty line) prices. Advertisement agencies have failed to lure customers even with many sexy ads. The much advertised information technology industry has fallen flat on its face, their products are piling up in the godowns. In short, IMF and World Bank dictated so called ‘reform’ is a total disaster for the country. Govt., as a collaborator to destroy Indian economy is  helping MNCs only. Education and rest of the social sectors have already been privatised and commercialised, even then  Govt. can’t pay salary to their employees. Therefore, there is massive retrenchment both in the PSUs and in the Govt. sector. 10 percent or 5 percent unemployment respectively in Japan and USA create political instability, but in India our agents of the imperialist world refuse to identify who is employed and who is not. Suicides of unemployed youth in Japan create social tensions. It is no longer news worthy in our country  when rich and well to do farmers are forced to commit suicide for failure of crops and non-payment of mountain-high loans. Banks are reducing lending rates and allowing influential  and rich business families to not refund bank loans.  Non performing assets (NPAs)  are piling up rapidly, even then there is huge unused liquid fund lying with banks, both public and private. Even ‘gamblers’ who used to speculate freely in the stock exchanges of India have  lost all charms. Only people who are  found busy to day are the criminal politicians who first engineer scams and then are entrusted  by the Parliament to find out why our stock exchanges are suffering from frequent scams!

How is India going to benefit from this war? The answer is, BJP in its previous form was Jan Sangh and it was based on loyal support of RSS trained small traders and merchants. This group is very happy, because they know that in a war there will be scarcity and hoarding and profiteering will give them enough opportunity to earn huge surplus. They are compelling their party to enter into the war jungle and help Bush and their imperialists friends. It also suits their masters in Nagpur who are committed to bringing Hindutva and eliminating Muslims from the earth. They feel proud if they can help USA sponsored annihilation campaign of Muslims.

However, politics is not that simple. Bush has withdrawn sanctions both from India and Pakistan. They were imposed after Pokhran nuclear blast in 1998. IMF and World Bank have assured Pakistan to restructure its international debt schedule. What is most important, despite Indian govt.’s best efforts through diplomatic sycophancy, Prime Minister of UK told our Prime Minister on his face while addressing the press during his recent visit to India that Kashmir is not in the agenda in this war with Afghanistan? In other words, they will not oblige India to pressurize Pakistan from giving support to struggle going on in Kashmir. How the top brass of RSS will behave with both USA and Pakistan in this context? So the businessmen’s lobby in BJP has to forget its  anti-Muslim interests in Kashmir and campaign started by their home Minister by banning SIMI. They have to jump onto the bandwagon of Bush so that they can make some profits out of this war cry of world’s Capitalists.

But that can’t be the agenda of vast millions of marginalized Indians. Due to reform process started in the early nineties, the workers in the  organised sector are the main targets. As in the developed world, in India too, establishments after establishments kicked out employees from factories and offices offering them either some compensation or without any compensation. Now it is called ‘pink slips’ and both private and public sectors including Govt. are asking their employees to remain at home and not to report for jobs. If this is the situation in the organised sector which provides hardly 10 percent of total jobs in the country, one can well imagine the pathetic condition in the unorganised sector especially in the agricultural and rural sector. When we are shown TV visuals; tribals drinking mango seed juice in Orissa and dying of starvation, it gives the true picture of rural poverty and the acute distress condition. In such a pathetic condition what should the workers do?

There is no dearth of household saving in India. Every one wants to save something for rainy days in future. But the private and public financial institutions are in the hands of criminals. Long term public financial institutions like IFCI (Industrial Financial Corporation of India) and IDBI (Industrial Development Bank Of India)  are made sick by the political parties by diverting funds to those organisations who don’t want to pay. Non performing assets (NPA) are of astronomical amount. Even the banks in the public sector are burdened with growing NPAs and the defaulters are big names in the industrial and business circles of the country. What is worst is that organisations like UTI where lakhs of ordinary households  deposited their lives' savings is also made bankrupt by the politicians! Now these viruses have attacked the Provident Fund deposits and  ready to siphon this out. There are thousands of Harshad Mehta and Ketan Parekh in this country and they know how to loot public money. In the name of cheaper credit, bank rate is gradually reduced. Lending rates are reduced but there is no economic activity, banks are flooded with liquid assets. At the same time, worst sufferers of lower interest rates are the senior citizens whose number is much more than that of total child population of this country. They have to depend on interest as the only source of income in their old age. Reduction in  interest rate has forced many senior citizens to starve. Moreover, there is no security that the financial institutions will survive this recession. Thus whether there is war or no war, Indian workers are in the midst of  a big trouble and they have to find out an answer themselves.

First and foremost, it is proved beyond doubt that the developed world is in utter mess and they can’t tell us how to survive and feed our growing millions. Therefore, there is no alternative other than to leave WTO, IMF and World Bank as they are serving their masters and not the people of poor countries. Indians cannot afford to stay in these organisations in their own interests. Our export to developed world would suffer due to their economic difficulties, but what is more worrying is that we shall not be able to pay for the imports from these countries. One important import bill is that of petroleum whose cost is bound to go up, and India has to find out how to rationalise its use. Therefore, it is in the in the interests of India and rest of the developed world that our entire foreign loan of around $ 100 billion should be immediately written off as we can’t meet the bill. India should refuse to foot the war bill of the G-7 countries, as we pay more than what we receive from WB and IMF. More important is, unless the developed world allows our products to go to their countries without any hindrance, India also should not allow imports without any restrictions. Big brother attitude has to come to an end. As the developed world has ignored the very existence of UN in this war, India with one billion population should also give clear indication of leaving these puppet international organisations.

Secondly, the Govt. of India should accept the fact that during the reform period the top 10 percent of the population in India had income in excess of 10 times that of the bottom 10 percent in 1999, compared to around 7.5 times in 1994. It is estimated that there are more than around half a million individuals who have investible funds in excess of Rs 2.5 million each. This is not a new information. What is irritating is that, do we need a civilized Govt. with so many laws in the country to understand the implications of such anti-national activities of this microscopic population. Why people should go to bed drinking roadside tap water and without food and for how long?

Conclusion

The rulers of the developed world are cowards. First, they have exploited resources through their MNCs from all parts of the globe and still propose to continue the same criminal activities. Their ‘technology’ has proved futile when challenged by ‘commitment’ and ‘ intelligence’. Knowing fully well that Afghanistan is a devastated country during the last 2 decades of war, these cowards are firing missiles each worth $2 millions to destroy a tent in the desert costing $10 and that to from a distance of some 100 kms from the high seas. They are afraid of lives of whites, because they know that American mothers will not allow Bush or any one to bring back body bags  on American soil. Thus  the very beginning of 21st Century is bound to be a learning period for the people in the developed world who can tell their respective Govts. not to tease the poor and hungry people of the developing world. They are economically poor but they are determined to fight back against all injustices and insult.