Obama announces $33B in commitments for Africa - SERIOUSLY?!

a reply to: stumason

The issue is that the 'footprint' of much foreign investment is riddled in corruption and ultimately there are so much 'unaccounted for' practices that much of the 'investment' capital really only lines the pockets of businessmen there and in the investing lands instead of truly being good for those in need there and in investing lands.

I am all for good business but investing in corruption isn't good for any nation's business or it's inhabitants.

This report is from the Washington Times about the summit from which the investment announcement was made and refers to. Transparency International has issued statements on the corruption.

Bad cop Biden opens Africa summit with corruption warning

Vice President Joseph R. Biden on Monday lectured dozens of visiting African leaders on the need to clean up the “cancer” of corruption in their governments, but some analysts say the U.S. can do very little to solve the problem and in some cases has contributed to corruption by funneling monetary aid to unstable governments or dictators.

Africa is home to some of the most corrupt governments on the planet, according to Transparency International rankings, and Mr. Biden’s comments Monday underscore the Obama administration’s desire to fight corruption while at the same time encouraging economic growth, equal rights for women, food security, a commitment from African nations to battle climate change and other steps to improve life on the continent.

Those issues and others are at the forefront this week as more than 40 African leaders gather in Washington for the U.S.-African leaders summit. President Obama will address the convention on Tuesday and the same night will host a dinner at the White House for African heads of state.

Ahead of that gathering, Mr. Biden played something of the “bad cop” role, offering harsh words about how official crime is hampering economic progress in Africa and, in some cases, accelerating violence and human suffering. He also offered specific recommendations on how countries can tackle the problem, including the establishment of American-style inspectors general within governments to detect bribery and weed out other illegal activity in militaries, court systems, police departments, political bodies and elsewhere.

“Corruption, as I said, is not unique to Africa, but it’s a cancer. It’s a cancer in Africa as well as around the world. Widespread corruption is an affront to the dignity of its people and a direct threat to each of your nations’ stability, all nations’ stability,” Mr. Biden said. “It not only undermines but prevents the establishment of genuine democratic systems. It stifles economic growth and scares away investment. It siphons off resources that should be used to lift people out of poverty. And it weakens — to the core — it weakens your military readiness. It creates vulnerabilities to foreign manipulation and interference.”

Mr. Biden’s words certainly are borne out by numerous private studies and surveys. Corruption rankings released each year by Transparency International consistently place African countries near the bottom of the list.

Last year, for example, all but five sub-Saharan African countries scored in the lower half of the 175-country survey, the organization said.

Somalia is the most corrupt government on earth, the study says. Of the 20 most corrupt countries, 10 are in sub-Saharan Africa, with nations such as Sudan, Chad, Eritrea and others especially low on the survey.

Read more: www.washingtontimes.com...

But specialists say Mr. Biden’s exhortation will do little to address an issue so deeply rooted in African governments. They also say the U.S. sometimes makes matters worse with billions of dollars in foreign aid, some of which is then used not to better the lives of average Africans but to bribe public officers or line the pockets of corrupt officials.

In fiscal year 2013, the U.S. doled out $31.5 billion in foreign aid, including billions of dollars given to especially corrupt African governments.

Somalia, despite its lowly ranking, received $319 million in American aid last year, according to government data. The Democratic Republican of the Congo ranked 21st on the list of corrupt nations and received $302 million.

“Essentially, a lot of people have argued it is precisely our aid that has enabled corruption to grow,” said Marian Tupy, a senior policy analyst at the Center for Global Liberty and Prosperity at the libertarian Cato Institute.

“I think there is no point in moralizing to African leaders. Those who are serious about governing their countries in a proper manner realize this is a problem,” said Mr. Tupy, who specializes in globalization and the political economy of Europe and Africa. “Those who don’t care, there’s nothing that you can do. People who don’t give a damn won’t give a damn no matter what we say.”

Read more: www.washingtontimes.com...

originally posted by: Sremmos80
a reply to: Destinyone

But it is primarily private money that is going over there, don't let the misleading title scare you, Obama is not giving Africa 33b

You're Right Obama's not giving them any money out of his pocket at all, is he.
Any and all monies are tax payer monies and we should have a word about that, don't you think?
Like What jobs are going to be provided to the Vast Majority of American Citizens?

a reply to: guohua

No I am saying it's not coming from the us gov. Read the article, it is coming from private sector.
So get mad at the private companies that are investing over there. But you don't have any memes for that so where is the fun in it?

But you don't have any me memes for that so where is the fun in it?

a reply to: Sremmos80
Haven't any idea what that means, I have to assume you're making fun of me in some way.
Translate to English.

originally posted by: guohua

But you don't have any me memes for that so where is the fun in it?

a reply to: Sremmos80
Haven't any idea what that means, I have to assume you're making fun of me in some way.
Translate to English.

He is trying to explain to you that Coca Cola, GE and the other companies are putting up more than half the money 33 billion. They are putting up half the money because they expect to make much much more money off it just as the US is. In other words think of this a you putting money into a start up company that is being backed by eveybody with any buisiness sense.

originally posted by: guohua

But you don't have any me memes for that so where is the fun in it?

a reply to: Sremmos80
Haven't any idea what that means, I have to assume you're making fun of me in some way.
Translate to English.

Phone added an extra me, kept trying to auto correct meme so had to do some fixing guess I missed something.
I am sure you know what a meme is so shouldn't be hard to figure out what I was getting at.
Get mad at the companies fronting the bulk of that 33b not at Obama is the long and short.

a reply to: Sremmos80
You must of not read any of the links or you trust Obama and his Administration,,,,,,, Which is it?

The White House also touted another $12 billion in new commitments for Obama's Power Africa initiative from the private sector, World Bank and the government of Sweden. Obama announced the Power Africa initiative last summer, setting a goal of expanding electricity access to at least 20 million new households and commercial entities.

LINKY
But don't stop there, let's actually look at Obamas So Called Power Africa,,,It's B s of-course.

Power Africa will bring to bear a wide range of U.S. government tools to support investment in Africa’s energy sector. From policy and regulatory best practices, to pre-feasibility support and capacity building, to long-term financing, insurance, guarantees, credit enhancements and technical assistance Power Africa will provide coordinated support to help African partners expand their generation capacity and access.

The United States will commit more than $7 billion in financial support over the next five years to this effort, including:

The U.S. Agency for International Development (USAID) will provide $285 million in technical assistance, grants and risk mitigation to advance private sector energy transactions and help governments adopt and implement the policy, regulatory, and other reforms necessary to attract private sector investment in the energy and power sectors.
The Overseas Private Investment Corporation (OPIC) will commit up to $1.5 billion in financing and insurance to energy projects in sub-Saharan Africa.
The U.S. Export-Import Bank (Ex-Im) will make available up to $5 billion in support of U.S. exports for the development of power projects across sub-Saharan Africa.
The Millennium Challenge Corporation (MCC) will invest up to $1 billion in African power systems through its country compacts to increase access and the reliability and sustainability of electricity supply through investments in energy infrastructure, policy and regulatory reforms and institutional capacity building.
OPIC and the U.S. Trade and Development Agency (USTDA) will provide up to $20 million in project preparation, feasibility and technical assistance grants to develop renewable energy projects. These efforts will be coordinated through the U.S. - Africa Clean Energy Finance Initiative (US-ACEF) and supported by the recently launched U.S. - Africa Clean Energy Development and Finance Center (CEDFC) in Johannesburg, South Africa.
The U.S. African Development Foundation (USADF) will launch a $2 million Off-Grid Energy Challenge to provide grants of up to $100,000 to African-owned and operated enterprises to develop or expand the use of proven technologies for off-grid electricity benefitting rural and marginal populations.
In 2014, OPIC and USAID will jointly host an African energy and infrastructure investment conference. The conference will bring investors, developers, and companies together with U.S. and African government officials to demonstrate the opportunities for investment and the tools and resources available from the U.S. government and other partners to support investment.

This money is mostly Tax Payer Money, is it NOT?
Fact Sheet

IMO They are building the infrastructure and investing in Africa to support big corporations like IBM,Oracle,Microsoft and others. They can't fully capitalize on slave labor or cheap labor without the infrastructure being in place.

The nice thing about being a big lobbyist is that gov't picks up the tab and takes risks for corporation while the corporation gets the profits. If it fails then they get the bailout.

I worked at one of the companies listed above about 6 years ago and outsourcing to China and India was becoming less desirable. Africa was becoming the buzzword.

a reply to: Sremmos80
Never heard of a "meme" it would have to be something for the 60 year old and below.

As far as Africa is Concerned, We need the jobs here, if that idiot Obama or any other Politician wants to spend 7 Billion
they can start here with some oil refiners and drill or something,,, we need jobs for our teenagers and our single moms and our out of work parents and how about those college kids with those student loans?

Me, I'm Ok, my husband is a retired FLEO, I work as a Herbalist and Acupuncturist, by appointment only.
No, we don't worry about obamacare, but we do worry about the people who aren't smart enough Not Vote!

a reply to: guohua

Well just an FYI you use memes. The Eagle asking if you really trust the gov would be one.
And i get he is giving some money, go to my earlier post and you can see that. But not tot the tune of 33b. Even that 12b is is coming from the private sector. All you showed was 7b over 5 years?? Hardly that much in comparison for what we do around the world
And we agree, shocker, on the jobs. Again that is why your anger should be at the companies. Barry can't force them to make jobs here, well he could but the of course you would be mad about that.

a reply to: MrSpad

In return a US company will get that road contract and US companies will run those mines. When all is said and done the US will turn a large profit for both the nation from taxes on those US companies and workers.

So are you suggesting that those US companies getting the contracts in Africa are going to have a majority of an American work force in Africa? Versus hiring local cheap labor?

I think the more realistic winners will be the Board or directors in those companies and the larger private investors than the US gov't.

In regards to taxes, I don't recall US corporations overseas being known for their good faith efforts of always working their hardest to make sure they pay all their taxes. Now turn it the other way around to avoid paying taxes than it becomes more realistic.

Well just an FYI you use memes. The Eagle asking if you really trust the gov would be one.

a reply to: Sremmos80
So you were making fun of me and my pictures I use.
You could of said pictures, and I could find one now if I wanted.
Your Guy Barry could Only Do Two Thing Right in my eyes ( other than resigning and Moving out of Country ) and that would be to Truly Create JOBS and Deport the illegals!

a reply to: guohua

He is not my guy, think he is horrible like the rest of them. Just tired of hearing how he is a tyrant commie socialist dictator that was Bron in Kenya when in reality he is just doing what every pos president we have ever had and doing what banks and big biz tell him too. Yall give him way to much credit. I think the Republicans will win the office in 2016 and it will be the same story, well actually we will prob go to war with a new ideology or imaginary biggie man.
The funny part about this is no one has even bright up that he just made a speech about the companies doing inversions and now he is doing this. Go make your thread now that I mentioned it

a reply to: guohua

Somebody needs to tell me why China has invested TRILLIONS in Africa in recent years...then get back to me and complain about our relatively tiny, strategic investment.

People can start with reconciling how 90%+ of the exotic metals that run everything from our super-computers to our iPhones originates in Africa...and what the USA will look like when we have to beg China for materials to build our technology...PCs, Phones, Energy and Military technology...all of it...

Think China is just giving money away??? Lord people...wake up.

a reply to: Indigo5
You live in China, you breath China's Polluted Air?
Do you pay taxes to China?
Why should you care what China does,,, it is not our responsibility to explain to other Leaders it's not a Good Idea to borrow money from China or allow China in to build cities and mine for their precious metals or diamonds.
America needs to be concentrated on the welfare of Americans and our own middle class.

Seriously, China only see's these people as a new slave labor force to be used and thrown away much like their own uneducated population.
China has no respect for the uneducated peoples of the world as America will soon discover.
Why does China invest in Africa and South America,,,China as a Middle Class Now, to pay their poor the equivalent to a living wage is now about $2.50 an hour in American.
In Africa the wage is ruffly $1.20 an hour for a good living wage.
So,,, YES, your Smart Phones and what ever else will be Made In Africa and S. A. much like The Cummings Diesel for Dodge and Ford was being built in Mexico.
Cheaper for them, but not much of a cost savings for us,, they make a profit!

That's my Opinion, Being Chinese,,,,,, I understand why Suicide rate in China among young people is so High,,,, Uneducated or Did Not Obtain a Passing Grade.
They would rather die than face a life of sweat shops or working in the mines.

originally posted by: guohua
a reply to: Indigo5

So,,, YES, your Smart Phones and what ever else will be Made In Africa and S. A. much like The Cummings Diesel for Dodge and Ford was being built in Mexico.
Cheaper for them, but not much of a cost savings for us,, they make a profit!

NO...The exotic metals needed for almost all modern day electronics and PCs will be MINED in Africa...BY CHINA...and Manufactured in CHINA...And the rest of the world will need to pay CHINA's asking price if they choose to sell to us at all.

It's a Marxist deal....

here's another opinion.

All of this, in the end, may actually hurt Africans as cronyists are descending on Africa and buying up their farmland. Farmers in many areas can no longer feed their people and the general populace is so poor, they can’t afford to purchase goods from these conglomerates. Remember… those who control the food, control the world. You’ve got the same old players setting all of this up – it’s a who’s who of Progressive/Marxist entities of which GE is foremost, followed by Ford and Coca-Cola. Immelt is literally salivating at expected profits and if Africa goes entirely communist, so much the better. He’ll make a killing, financially and literally. Then you have the World Bank with their grubby fingers in everyone’s pie. Last, and certainly not least, you have Obama who is literally stealing money from other approved funds in the US and funneling every dime he can into Africa.

Obama Pushes Wealth Redistribution In Africa

Well it's starting and with out any one in America Giving A Sh*t!
We have people here that complain we don't do enough for the right of people with a different sexual agenda.
What do you think they do to them in Africa?
Isn't Obama suppose to be the Champion of the Gay Life Style or Something,,,,,
if so,,, why is he Kiss the A&&'s of Dictators that jail or kill people that live a sexually alternate life style.
Huh,,, for the money!

President Barack Obama drew the diplomatic line somewhere at the first ever U.S-Africa summit at the White House this week by not inviting Zimbabwe’s brutal dictator Robert Mugabe.
But the guest list still included several other African leaders with only slightly better human rights records.
The White House promoted the summit as the largest-ever gathering of African leaders in the United States, with more than 50 countries represented.
The red carpet was rolled out for Equatorial Guinea's Teodoro Obiang Nguema Mbasogo, who shot or jailed virtually all his political opponents, Gambia’s Yahya Jammeh, who threatened to ‘cut off the head’ of any homosexuals in the country and for Cameroon’s Paul Biya, who has the dubious honor of ranking 19th on author David Wallechinsky's 2006 list of the world's 20 worst living dictators.
Many of the leaders were later photographed in the White House, posing for individual portraits with Obama and the First Lady.
The President's opening speech avoided the prickly issues of homophobia and torture and instead sought out similarities between the two continents.
He opened with: ‘I stand before you as the president of the United States, a proud American. I also stand before you as the son of a man from Africa’.
Before going on to say: ‘Our faith traditions remind us of the inherent dignity of every human being and that our work as nations must be rooted in empathy and compassion for each other, as brothers and as sisters.’

Yes, Obama, the Man of the People,,,, What People,,,, Other Than himself,,,, He couldn't Care Less About Any Of You!
Link
We as American's we supply their youths with jobs as our own youth will be living on the streets or with their parents and indebted with student loans. Sad, So Very Sad.