Frederick Douglass

"Power concedes nothing without a demand. It never did, and it never will. Find out just what people will submit to, and you have found out the exact amount of injustice and wrong which will be imposed upon them..." Frederick Douglass

Saturday, June 11, 2011

Peru’s president-elect Humala bows to bankers

Didn't take long did it?

The market drop was not due to skittishness on the part of investors, it was a shot across Peru's bow just to let Humala know who's boss.

In the week following his victory at the polls last Sunday, Peru’s president-elect Ollanta Humala has made it his first priority to reassure capitalist investors, foreign and national, that they have nothing to fear from his campaign rhetoric about changing the country’s economic model and effecting a more just distribution of wealth.

Starting on election night, as his lead over right-wing candidate Keiko Fujimori became clear, his spokesmen took to national television with the aim of calming the markets and avoiding a possible collapse of the Lima stock exchange and the Peruvian currency, the sol, as a result of frightened investors and market raiders withdrawing their money.


http://www.wsws.org/articles/2011/jun2011/peru-j11.shtml