| | |  News from Around Banderas Bay | December 2009 
Democrats Abroad's John Chudy Ph.D at IFC
 Paul Crist - DemocratsAbroad.org
December 01, 2009
| | For more information, or to become a member of the Costa Banderas Chapter of Democrats Abroad Mexico, please visit DemocratsAbroad.org. | |
Democrats Abroad Mexico – Costa Banderas Chapter is pleased to present Chair of Democrats Abroad Guatemala, John Chudy, Ph.D., on December 9, 2009 at 7 pm at the International Friendship Club.
Dr. Chudy will present: The 2009 Economic Stimulus Plan - Road to Recovery or Road to Perdition?
The slide presentation and discussion will explore what went wrong to derail the US economy and whether the stimulus package approved in early 2009 can effectively correct its trajectory.
An historical overview is provided, touching on the trends for the national debt as a percentage of Gross Domestic Product (GDP), as well as a historical view of the fiscal health of the national budget. The role of legislation in fostering a climate that altered behavior in the investment banking sector is also examined.
The role played by financial derivatives, especially that of Collateralized Debt Obligations, and Credit Default Swaps, is looked at in the context of the mushrooming sub-prime mortgage environment. Jimmy Carter, Ronald Reagan, Alan Greenspan, Freddy and Fannie, are all paid a visit with enough evidence provided to help the audience determine which of them was most at fault, or if they deserve to be blamed at all.
As the economy began to carom out of control in 2007, the Bush administration promoted a small, consumer-oriented stimulus, and in 2008, as the banking sector imploded, TARP was added. In 2009, the mess still too big for TARP alone, President Obama signed the American Recovery and Reinvestment Act (ARRA). And behind both of these behemoths, lurks the FED’s very huge special lending facilities. Is ARRA adequate to the task? Was TARP money well spent? And what about the FED?
If the crash was caused by a whole system of economic organization positioned around home ownership reaching its limit, then is a stimulus enough? Or will the economy need a whole new spatial fix?
There will be something to learn for everyone who attends. Even people well versed in the complexities of the US economic meltdown, will benefit, and we will benefit from each other’s comments and questions.
Cost: $100 pesos at the door
More info: Tobe Jensen: tjensen1942(at)hotmail.com, (322) 223-3968 or Dee Dee Camhi: rdcamhi(at)mac.com, (322) 223-9804
Please join us!
"An informed citizenry is the bulwark of a democracy..."
Thomas Jefferson
About John Chudy, Ph.D.
John is a 62-year old retired international development professional, now residing in La Antigua, Guatemala. His U.S. voting precinct is Arlington, Virginia. A lifelong Democrat, in 2005 John took on the task of organizing a start-up committee of Democrats Abroad in Guatemala. His goal was to see Democrats Abroad in Guatemala grow from a core group of six kindred spirits to at least 200 active members by 2008. Democrats Abroad Guatemala was formally recognized by the Democratic Party Committee Abroad, the parent international arm of the Democratic National Committee, in 2006. Current DA Guatemala membership is about 360.
Prior to his current life as Chair of Democrats Abroad Guatemala, John worked in international development. In 1970-72, he served as a Peace Corps volunteer in Peru. Later, he worked for a number of years with the international relief and development agency, CARE, in a variety of assignments that included Haiti, Bangladesh, Bolivia, the Dominican Republic and Costa Rica.
In recent years, he worked as a private contractor and also served with United States Agency for International Development as a personal services contractor, managing development projects and activities in India, Honduras, Guatemala, El Salvador, and Ecuador. He holds a Master’s degree in International Administration, and a doctorate in Public Policy.
Ph.D. George Mason University, 1993
MIA, School for International Training, Brattleboro, VT 1974
BSc, University of Wisconsin at River Falls, 1969
Your local Democrats Abroad Chapter is continuing to organize and present programs that we hope will be interesting, informative, and entertaining. We look forward to your continued participation and support!
For more information about the Costa Banderas Chapter of Democrats Abroad, click HERE. For local assistance, contact Susan Wichterman at 044-322-303-5181 or mexicoms(at)hotmail.com or Paul Crist at 322-222-4793 or editor(at)mexicodemocrats.org.
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