Lahore, 7th April: Mubasher Lucman, in his recent video on his YouTube channel breaks the idea of an American dream.
According to him, to everyone’s shock, the American dream of a luxury car, a home and a life of our own is turning into a nightmare.
People all over the world and from every sphere of life used to think that they can make a fortune and strike gold by working hard and trying their luck in the US. But the question arises, is it working anymore in the present economic model as it was claimed?
More than 71% of the Americans think that the system is corrupt and the last election was fought and won on riding the high emotion of such claims.
The free market is no longer free, rather now the wealth is concentrated in a few powerful hands. It would not be false to claim that the land of opportunity has turned into the land of opportunists.
Mubasher Lucman names eight influential billionaires who have a fortune worth more than half of the world population. The six males in the list belong to America, who are: Jeff Bezos, with a worth of 110 Billion $, Bill Gates has a worth of 106 Billion $, Bernard Arnault having a worth of 106 Billion $, Warren Buffet with 84 Billion $ worth, Amancio Ortega 70 Billion $ worth, Mark Zuckerberg having a worth of 70 Billion$, Lary Ellison 67 Billion $ and Carlos Slim Helu has a worth of 62 Billion $.
It is the survival of the fittest and the big corporates are easily getting away with any such practices. For instance, 90 % of the beer and beverage market is controlled by 2 corporates and four airline companies enjoy the max share of American air space, half of the banking sector is governed by four banks, 90 % of the search engine is routed by Google, 70% of social network data is managed by Facebook. In free competition market if the competition is eliminated then the very bases of the system are questioned.
All industries are just faking it up that the customer has the right to chose but in reality, the real decisions are taken by the big Kingmakers. Agriculture, food industry fashion and health sector all are controlled since 1980 when President Regan paved the way for cooperatives to merge or take over the competition by passing the regulation.
After the 2nd World war, America appeared as a superpower and shared 45% of the total world GDP. The situation and equilibrium are changing rapidly and there is a sure power shift which will be clear after the world recovers from the pandemic. The gravity of the situation can be foreseen through the fact that only 10 million job losses have taken place in America during the current disaster.
Trump’s strategy of concentrating on America will prove to be devastating and micro-based approach contrary to the historic stance. This approach can be noticed from the fact that Americans are not in the race of developing an antidote for the virus whereas Germany, China, Austria and so much so India is trying to come up with the relief.
Americans with the selfish intend approached a German company researching for the vaccine to sell them the rights of the formula and that should be initially available for American citizens only.
Even the American Naval Fleet is affected by the pandemic and experts have hinted that more than 30% of the American Navy bases will have to be shut down due to heavy losses.
The economic crisis in America and in the world will be unfolded in the coming months and we will have to keep a close eye to minimise the effects.
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