Oh, well!  So much for this story.. .

“Iceland to repay Britain $3.45 billion debt due to Icesave Bank failure.”

http://www.allheadlinenews.com/articles/7020776598?
Iceland to repay Britain $3.45 billion debt due to Ices
ave Bank failure

Dale, Michael Hudson’s article uses the US experience circa 1937 with FDR’s debt
repudiation as the justification for Iceland (and other European countries) to
repudiate their debts.  I am sympathetic to people with underwater mortgages,
but the example he uses is terribly unrepresentative of the current situation.  The
US economy fell into a double-dip second recession in 1938, and if it hadn’t been
for the wartime stimulus of the US selling stuff to the Europeans starting in 1939
and then the adoption of a command economy starting in 1942, things would
have gotten worse. 

Unless we start a third world war with Iran, I don’t think that European debtor
countries can count on selling equipment to combatants as a way out of their
current problems.

Ron Paul stated the same thing.

The bankers have their lackeys in Congress vote for bailouts of poor business decisions.

The too-big-to-fail banks failure will create voids in business which in turn create opportunities for smarter and more innovative up and comming businesses.

Opportunity will feast on the carrion of what remains.

****************

It does seem that the bankers are in total control
of the world by managing the money, so it seems.
What I see is that the people are just too willing
to let the bankers get away with grand larceny
and the only way for that to change and at the
same time show that the bankers are not in
control is for the bankers to just drive economies
into the ground and leave NO scraps for the
peons. That should get the people motivated, but
then again, it is amazing to see how docile the
people are, kind of like they really like the abuse
being dumped on them.

Yes, Olafur Ragnar and his buddies to whom the
government gave the banks to begin with are all doing
just great. The “left” administration (made of the same sawdust, apparently, that Chris Hedges describes so well in his new book, Death of The Liberal Class), which promised
to clean up after the capitalists-on-steroids, has
done nothing but send the bills to the public. The administration pumped billions of taxpayer money into the “new” banks (we don’t even know who owns these institutions now) and
kept the criminal classes there; almost all
the bankers that enabled the swindle that went on
before the collapse are still sitting pretty (and
prettily paid, in a banking system that is 10 times
bigger than the country needs)there, giving special treatment to their buddies and writing off debts of their friends and families, but giving the
finger to ordinary folks who’re losing their homes.
Gloat all you will, Mr. Grimsson, but fundamentally
nothing has changed: Society is still being run for
the benefit of the bankers and the corporate class, 
and working men and women are stuck with the bill. Shame on you.

You must watch this video. If you can handle the truth.

Just who the hell do you think you people are. You are very, very dangerous people indeed: your obsession with creating this Euro state means that you are happy to destroy democracy, you appear to be happy with millions and millions of people to be unemployed and to be poor.

-Nigel Farage MEP (UK Independent Party)

http://www.youtube.com/watch?v=Fyq7WRr_GPg

There is one group of economists, who have consistently said the banks should be allowed to fail. These are the exact same people who predicted the crash in 2006 and 2007. Anybody know who they are? They are the ones who want to protect the rich, or so I’m told by liberal progressives. They are the ones that want the poor to go without food, water, clothing, shelter and air. They are the ones that want “unfettered Capitalism”. They are, of course, the Austrian School libertarians. Economists like Peter Schiff and Jim Rodgers. Perhaps you liberals should take a second look. Here’s Peter jsut the other day. (Don’t worry, I won’t tell any of your friends that you watched Fox Business News.)

http://www.youtube.com/watch?v=kgOovAcsLA8&feature=player_embedded

Before anyone says anything, Austrians are not Reaganomics, trickle down economists. Here is Peter arguing with one of Reagan’s top economists, and creator of the “Laffer Curve”, Art Laffer. This is when he accurately predicts the crash:

http://www.youtube.com/watch?v=2I0QN-FYkpw

Ben Stein publicly apologized to Peter after the crash.

So, you liberal/progressives have a choice. Stick with Pauly Krugnuts and his bailouts and Stimulus and all that Keynesian horseshit, or embrace the free market and the Austrians. Their arguments are sound, and their predictions are accurate. What more do you want, a Rubber Biscuit?

http://www.youtube.com/watch?v=14MZ8eiwcNE&feature=related

Yes, Americans are too stupid and lazy. They seem to want to elect people who will steal from the public faster than the last bunch.

I am reminded of Arendt’s thoughts regarding the desire to destroy. Hitler did an excellent job of destroying Germany, and it seems our politicans and their corporate sponsors are looking to do the same to the U.S.A.

What a decent and humane way of caring for it’s citizens.

What a stark contrast with the utter contempt in which most of us are held by our own government.

Sigh.