Iceland kicked out those free market, rhetoric loving conservatives which brought the country to it's knees in a new election:
With about a third of the final vote counted late Saturday, it seemed that the country’s leftist caretaking government would be formally voted into power, with the Social Democrats projected to gain 22 seats and their partners, the Left-Greens, appearing to gain 13 seats in the 63-seat Parliament. The conservative Independent Party, ousted after a wave of demonstrations in January, was projected to gain just 14 seats with less than 23 percent of the vote, down considerably from its total in 2007. Final results are to be announced on Sunday.
It appears those responsible for creating Iceland's financial disaster are called The New Vikings. Well, well, rape and pillage they did and Iceland is paying the price.
So, Iceland came out and voted for change and probably got it.
America came out and voted for change and got....
Larry Summers.
Every time I hear Larry Summers' name
I think of Albert Einstein's quote:
Baseline Scenario has a good article about Larry Summer's New Model. It is quite disturbing.
RebelCapitalist.com - Financial Information for the Rest of Us.
Thanks Reb.
I'm trying to diet and reading about Larry Summer's New Model made me completely lose my appetite. We are in some seriously deep trouble in this country and there seems to be no good way out. Simon Johnson and Joe Stiglitz are trying but they are voices in the wilderness. We are witnessing what 30 years of anti-communist, free market capitalist propaganda and generations of American exceptionalism have wrought. The vast majority of the public are unable (or too lazy) to reason for themselves. There are only a small minority of citizens who realize what is going down.
And I'm not sure I'm among them
I keep going back and forth. Either Wall Street is made up of subhuman monsters who are using this downturn to create the type of human suffering they've craved all along, or Wall Street is populated by a bunch of subhuman mental defectives who thought that fractional reserve banking was a nifty keeno idea.
I'm not sure which I fear more. No, strike that. I fear the subhuman monsters more, because they actually have control over the government. If it's the subhuman mental defectives, then God help us all.
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Executive compensation is inversely proportional to morality and ethics.
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Maximum jobs, not maximum profits.
We lose either way.
Ted, I think you are too young to remember the book "Limits To Growth". It was published in 1972 and it really impressed me back in the day. I have often thought about the trends they warned about and even wondered if the Club of Rome was still operating. The other day I ran across this article at theoildrum which updates that early work. It is worth reading, and the commentors as well. The point is that we have wasted precious time already, pursuing a reckless goal of perpetual growth and American dominance. Mankind faces serious challenges and we are stuck with the intellectually corrupt likes of Larry Summers and his ilk. A lot of people in this country wanted to be rid of the Doug Feiths, Dick Cheneys, David Addingtons, Paul Wolfowitzs, etc., etc., ad nauseam that we suffered under for 8 years. And instead we get the return of Robert Rubin, who first did his dirty work with Ronald Reagan. Pick your poison, they are both lethal. We are a country with compromised leaders and a citizenry that is unwilling to understand and express themselves.
I'll have to go there and read the update
We actually studied "Limits to Growth" in a college class for engineers called "Ethics of Engineering"- a required course for any engineering degree at OIT. That and the Tacoma Narrows were pounded into our heads as why good mathematics and good engineering always needs to consider *all* the evidence- not just the limited objective evidence scientists use to produce their theories, because you never know when something like wind harmonics is going to blow down your bridge.
Part of the reason I'm here is an attempt to figure out why bankers don't seem to have the same level of ethics as are required of engineers.
-------------------------------------
Executive compensation is inversely proportional to morality and ethics.
-------------------------------------
Maximum jobs, not maximum profits.