Is It Prudent to Cut Off Aid to Africa??

Chris discusses the ineffectiveness of foreign aid to Africa, arguing that it often leads to the creation of kleptocracies and does not address the root causes of poverty. He emphasizes the need for a shift in approach, advocating for the export of capitalism as a more effective solution to help impoverished nations. www.watchdogonwallstreet.com

Episode Transcript

Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.

Speaker 2 (00:16):
Is it prudent? I know a lot of liberals out there.
Oh my god, this is terrible, terrible. We're cutting off
aid to Africa and all of these terrible things, and
people are gonna die and children and women and YadA,
YadA YadA. Yeah. I've been around a while, and I

(00:36):
go back to when I was in middle school. Yeah,
do they know it's Christmas time at all? You remember that? Yep?
That was a song that came out. All the rockers
from the eighties put that together? What else? We are
the world? All sorts of things. I was live, aid

(01:02):
Live Aim. Remember those concerts there I was. You know,
that was some great concerts. How did all work out?
Kind of all work out? Again? I want to go
back to and again I again. One of the best
comedic rants of all time in my opinion, Sam Kinnison
and his rant about aid to Africa and explaining that

(01:24):
you know this is stupid, stop sending them food, send
them U hauls and move them to where the food is.
And again is he wrong moving them to where the
food is? Is Actually it synonymous with teaching people, in
essence how to make their way in the world. What

(01:45):
we have done by pouring money into Africa is created,
in essence little kleptocracies. What it's become little kleptocracies, one
country after another after another. Most of the money is
going to the elites in that country and their buddies
and friends, the deep states, because they have deep states

(02:09):
in Africa, deep states everywhere in the world. You know,
the people that are close to the people that are
in charge, keep sending money there. Again, I don't know
if you saw this yesterday, there were seventy Christians that
were beheaded in the Congo. Doesn't make the news. Doesn't

(02:30):
make the news. How much money have we sent to
the Congo, all these places yet seventy Christians be headed?
What's the point. But what's the point in sending all
of this money? I know they're like, well, we got
to have influence there. If we don't do it, then
China's gonna do it. What you think China is stupid

(02:52):
enough to just pour money handed out. When China goes
in somewhere, they again they run it like a like
a debt scheme. They're smart. I guess they learned from
the World Bank. Well and they Yeah, they put up
ports and do various different things in essence make the

(03:13):
various different states indebted to China. Well, you think they
give a damn about AIDS in Africa anything like that? Now,
now it's real politic, it's Machiavellian type relations. Yeah. I
shared this on the radio show well before the podcast,
years and years and years ago, and it was written

(03:36):
by an African economist and talking about again they were
bringing in Bono and his various different things that he
does in Africa, and again good intentions, but you're not
thinking things through. So if they have a malaria problem

(04:02):
in some area in Africa, you know, they come in
and they you know, Bono and all the people gets
together with usaid. We're doing good, we're do gooders, and
they start giving out mosquito nets, start giving away mosquito
nets to everyone. Well, some of the businesses that are

(04:24):
there in Africa actually make mosquito nets. What happens to
the mosquito net factories and the people that are working
at the mosquito net factories. When all of a sudden
you start giving away the mosquito nets, you put them
out of business. You put them out of business. It

(04:46):
doesn't help matters at all. You have to teach people
how to invest, how to grow their economies, and you
don't do it by giving people away. The best way,
the best way to save Africa or any other impoverished nation,

(05:09):
is to export capitalism, not to throw money at the problem.
To export capitalism. People again, I get it. They want
to do well. They just want to throw money at things.
It doesn't work. It doesn't work, and it leads to

(05:31):
more and more problems, and it leads to more and
more theft, and it leads to more and more poverty,
and it leads to Christians being beheaded. So yeah, yeah, yeah,
it's it's prudent to cut off AID because it's not
really aid. It's making matters worse. Watchdog on Wall Street

(05:51):
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