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Friday, July 31, 2015

Sappy ,uncritical NPR interview with Muhammad Yunus

the darker side of micro-credit




  Until I background checked this rather sappy, uncritical article ( by NPR standards ) I did not even know who this Benevolent Banker was. As I am a democratic Socialist-giving CRITICAL support to Senator Bernie Sanders of Vermont-I was immediately cynical about this Muhammad Yunus. No, he is NOT a criminal but quite a few on the left see his micro-credit inspiration as a disaster for working class people in his own country. No socialist will believe that socialism can be obviated by massive debt slavery.
I don't know if this Nobel Peace Prize winner is even a good man. He seems more like an avuncular charlatan. And a friend of Hillary Clinton. That speaks for itself.
What would Bernie say ? Ask him.
  " She had never had a bank account or earned a regular salary but was given a $200 loan anyway, which she struggled to repay.
So she took another from a different company, then another, until she was nearly $2,000 in debt.
In September she fled her village, leaving her family little choice but to forfeit her tiny plot of land, and her dreams."

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Ron