Wednesday, November 5, 2008

Tax Voracity and Financial Crisis II

One of the most clowns of the current "financial crisis" is that the real financial reasons not tell the players to account drops. And to show a button, the current Presdiente of the European Commission; Economist Jose Manuel Barroso, acknowledged during in interview program, broadcast by the RTVE; DESALLUNOS TVE, led by the prestigious Spanish journalist Pepa Bueno on 04/11 / 2008. Said that although the financial crisis originated in USA, the problem is esctructural. Countries such as China and nations of the Persian Gulf, created sovereign investment funds. And dedicated to accumulate capital for their export products, and this keeps desiquilibrada the global economy. This view coincides with the opinions expressed by the other two renowned economic analyst, interviewed on CNN, casuality in the same week before covering. But in different continents.

Adsolute is a truth that there is a sum of reasons, which produced the global economic crisis. And as we tried to make do, one reason (the real estate crisis).

But the two structural reasons, that from my point of view, have caused the crisis. They are primarily: The oil tax addiction of the Goverment, both of consumers and exporting countries, both overheat the economy. As the price of crude averaged only representing 17% of the total component cost of fuel. Most of the component in the price of fuel are taxes. The second reason (the highest weight in my experience): The capital control measures implemented after the Sept. 11, 2001, resulted to divert of capital away from USA and Europe. Many of the measures just tried it in depth: Spy financial privacy of their nationals, with the tax purpose. And the second reason to appropiate from side of the financial institutions of funds the investors and savers so any excuse in the shadow of the laws.

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