"Today, a new $1.3 billion, three hundred-mile pipeline constructed by an EHM [economic hitman] organized consortium promises to make Ecuador one of the world's top ten suppliers of oil to the United States. Vast areas of rain forest have fallen, macaws and jaguars have all but vanished, three Ecuadorian indigenous cultures have been driven to the verge of collapse, and pristine rivers have been transformed into flaming cesspools... Because of my fellow EHMs and me, Ecuador is in far worse shape today than she was before we introduced her to the miracles of modern economics, banking, and engineering. Since 1970, during this period known euphemistically as the Oil Boom, the official poverty level grew from 50 to 70 percent, under- or unemployment increased from 15 to 70 percent, and public debt increased from $240 million to $16 billion. Meanwhile, the share of national resources allocated to the poorest segments of the population declined from 20 to 6 percent... Unfortunately, Ecuador is not the exception. Nearly every country we EHMs have brought under the global empire's umbrella has suffered a similar fate. Third world debt has grown to more than 62.5 trillion, and the cost of servicing it — over $375 billion per year as of 2004 — is more than all third world spending on health and education, and twenty times what developing countries receive annually in foreign aid."
Latin America

January 1, 1970

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Original Language: English