e-Con e-News

Economies, economics and economists


Wimalasurendra strove hard to ensure we had an independent source of energy to drive industrialization, but was defeated by English oil and their local backers. And now? Our largest import bill is for importing Rockefeller’s oil!

Only the white ants know? This week saw a new Communist Party leader, after the retirement of DEW Gunasekera. It was DEW’s report on the Central Bank Bond Scam that saw the CP and LSSP removed from the UPFA National List, after PM Ranil and his white backers pressured President Sirisena. If DEW’s report had been published it would have ensured the defeat of the Ohaypalayang government in August 2015. The report has been left to the gnawing criticism of the white ants, unless DEW publishes his memoirs. As Minister of Human Resources Gunasekera guided the formulation of the National Human Resources and Employment Policy, in 2014, which provides invaluable insight into the status of workers – nhrep.gov.lk/index.php

May the spirit of DEW multiply a thousand-fold! No matter retreats and defeats, it’s the alliance of the Communist Party, the traditional Left parties and Nationalists, that have done the greatest service to the country & the world.

Was it the ghost of Wimalasurendra who switched off the lights on August 10? It would make sense. He strove hard to ensure we had an independent source of energy to drive industrialization, but was defeated by English oil and their local backers. And now? Our largest import bill is for importing Rockefeller’s oil! Even our ambassadors (see Moragoda) must be imported Rockefeller CIA men!

The CEB scandal is not just a CEB story. An avalanche of media about the CEB power cut fails to turn the lights on the real criminals at work. In the absence of revelation, it is to history we must turn. The story of Wimalasurendra enlightens: this is a great game to prevent development of resources and industrialization. With 103 rivers and water all around us, we have abundant natural resources to make steel, make machines. He had the plans, 100 years ago! Amazing!

This week shows Standard Chartered Bank donating money for Covid, with a photo of the President, who doesn’t seem overjoyed. He cannot look sad either. Perhaps perplexed. He should be. It is the English and foreign banks who have destabilized one government after another. It was Philip Gunawardena’s attempt to set up a Cooperative Bank, that got the standard chartered banks of this world firing their pistols to bring down that government!

What was SC Bank’s role in privatizing healthcare, disabling governments from dealing with the pandemic in the first place? If SC wishes to donate to a good cause they should do so and shut up. Taking credit publicly for good deeds deposits no merit. If they wish to really gain merit, they can tell us how much they have stolen from Sri Lanka and where and in what they have invested their profits over the years, and what’s been their role in destabilizing our countries?

In the same press release SC Bank calls down merit on itself for financing Brandix and MAS Intimates to produce personal protective equipment (PPE) for the US market. Then this week, the US Embassy donated ventilators: SL should ‘regift’ those ventilators to some impoverished Floridans? –and start making them here! Not one media asked them about this strange philanthropy: after belated overproduction, they’re trying to dump them on countries everywhere, and prevent us making our own.

We recommend readers fathom the annual Central Bank oration, this time by its governor, WD Lakshman. Within it one finds criticism of the originator of the CBSL, John Exter, after whom the oration is sadly yet appropriately named. After all, the speech is usually timed to come after the annual Jackson Hole meeting of US Central Bankers, where the diktat according to the dollar is laid down for colonies the world over?

Why are we still importing workers from India and Bangladesh while exporting workers to West Asia? Why do we have a labor surplus and a labor scarcity!

The sad state of our economists is evident in this week’s comment by Prof Srimal Abeyratne in Wijeya Group’s Times about China’s rise being due to ‘exports’! What ignorance is this! China fought a revolution, with millions sacrificing their lives to ensure independence. Independence in economic terms means first controlling the home market to build heavy industry.

Then we have the sermonizing of WA Wijewardena in the Wijeya Group’s FT, about North Korean youth not being creative! How does he know? A slave of white media, does he know that the North Koreans are an industrial people, who devised incredible means to defeat fascist armies?

Then we have a prominent Minister declaring also, exports is our way out, further suggesting ganja also as one export! Even if we grow gold, our people will remain impoverished due to control by multinationals, merchants and moneylenders. If exports are all we need, why did we seek independence from England? The colonial economy was an import-export setup par excellence! And most of these so-called exports are made up of and with expensive imports!

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