Yet another example of failed socialism, unfortunately there are similarities forming here that happened there.
The previous government was led by a guy from the populist/nationalist party and the entire government collapse started with an ill-timed tax cut in 2019, which collapsed government revenues right before Covid hit. But sure, socialism. Because Benny Johnson told you so...
The amazing thing is that these right-wing crack pots don’t even have to try to dupe their followers. The eat this shit up regardless of the veracity of the claims.
The problem globalism is that if couple of key countries and industries fail then it takes several other countries down along for the ride to despair. Key shortages like food, or gas, can collapse even well run countries, not that Sri Lanka was governed all that well to begin with. We need to be more independent on our own to truly be a Super Power... We can o longer outsource key industries anymore. The one industry that kept the U.S in great shape was our once robust construction that has been almost completely neutered by the Dodd Frank Act. The mid 1980's to the mid 2000's were great years to be an American, that that economy was always held together by our construction industry. Now I know why China is building ghost cities. In Sri Lanka, they are just one of many more countries that will fall into chaos... that's part of being dependent upon other nations for goods and services just to function in a normal independent way. It's hard to grown true independence from other nations. Sri Lanka has no chance... In a globalist world one country catches a cold and they all get sick.
Before globalism there were shortages everywhere all the time, because it's just so damn hard for every country to make everything itself. Given we're already at full employment, where do you think we'd even find enough labor to replace say imports from Germany, let alone say China?
Yeah - that post couldn't have been any more wrong. Global trade is a godsend to protecting against shortages, or hell - ever even acquiring many goods....
Yeah, the world apparently needs more potato famines...a crop fails, a series of protectionist laws prevent the importation of food, and an island starves...
The AP reads like the Trump plan. Appeal to nationalism, cut taxes, corruption and nepotism. Four paragraphs not in order… Mahinda remained in office until 2015, when he lost to the opposition led by his former aide. But the family made a comeback in 2019, when Gotabaya won the presidential election on a promise to restore security in the wake of the Easter Sunday terrorist suicide bombings that killed 290 people. He vowed to bring back the muscular nationalism that had made his family popular with the Buddhist majority, and to lead the country out of an economic slump with a message of stability and development. As tourism plunged in the wake of the bombings and foreign loans on controversial development projects — including a port and an airport in the president’s home region — needed to be repaid, Rajapaksa didn’t listen to economic advisers and pushed through the largest tax cuts in the country’s history. It was meant to spur spending, but critics warned it would slash the government’s finances. Pandemic lockdowns and an ill-advised ban on chemical fertilizers further hurt the fragile economy. The country soon ran out of money and couldn’t repay its huge debts. Shortages of food, cooking gas, fuel and medicine stoked public anger at what many saw as mismanagement, corruption and nepotism. A brief history of the rise, fall of Sri Lanka's president
It gets worse and Sri Lanka isn't the only nation with issues. First world nations are experiencing these issues as well. The only difference is first world nations will take care of themselces before they take care of anyone else. Discontent with left-wing policy failures is triggering massive protests all over the world. Just don’t expect to read all about it in the New York Times.
Everything described about this guy parallels Trump. Trump wrecked our farmers too, thanks to his little trade spat with China. It was covered by subsidies and bailouts and the fact we have a general abundance in this country, but the failed policy literally caused crops to rot on the vine. At least some of our current labor shortages might also be due to Trump’s anti immigration policy, although I would assume COVID probably had a much larger hand there (it certainly did on the supply chain from Asia). If we want to address the lack of labor we need to welcome guest workers and immigrants. Sri Lanka is a very small country, and obviously they started from a less “developed” point than the 21st century U.S., but it’s a taste of what a deranged (and likely corrupt) populist can do to a nations economy.
IDK why right wing sources are popping up all over the place calling sri lanka the fail of socialism. There are a ton of good articles out there on it, that don't have an obvious agenda. It's a combination of bad economic policy, some left leaning, some right leaning. But ultimately the biggest issue is bad economic decision making, corruption by elite families, and some bad luck.
Sorry about that - the link has been fixed. Here's Why Media Don't Want You To Know About Huge Global Protests
Yeah, this is why you shouldn't get your news from interns at the Federalist. What ridiculousness. The author attributes the protests to failures of left-wing policies in places mostly led by right-wing governments. UK is currently led by the Conservatives, India is currently led by a conservative nationalist group, Sri Lanka has been led by the populist/nationalist party, Morocco is led by the Center Right, France is led by their Centrist party, Iran is led by its right-wing group, etc. The list has more right-wing governments on it than left-wing ones.
There are plenty of links in the article that support the opinion. Posting them individually would have made for a long post as my intent is to show in the grand scheme of things the US has it's own problems that are self inflicted as do a host of other free world nations. In short their issues are much worse than those we face at the moment but we are quickly headed down the same path as everyone else.
Yeah, and if you notice, they disappear as soon as they try to tie it to Biden (those two paragraphs don't contain a single link). The links prove that countries are experiencing inflation and economic hardships. But somehow, when looking for links to tie, for example, India's struggles to Biden, the links disappear. The only such link was about Sri Lanka, where they don't mention the tax cut that actually started this process but rather an environmental policy. That link? To another article written by the same intern.
Thanks for providing the link. Seems like the author complains about major news outlets not covering protests, but then explains how they have covered the protests, but for other reasons. It also cites countries where inflation is much worse than that in the U.S., yet wants to condemn Biden for failing economic policies. In comparison to the places cited in the article, it seems like the U.S. is doing much better.
