Good-bye, Capitalism?

[Philidor]

Originally Posted by haydnguy

As you can see from the pie chart below, if you take defense spending off the table there is nothing left except social security and medicare/medicade to make a real dent.

Attachment 640

Well, it's time the CIA got negotiations going with OBL, and that 20% military cut diverted elsewhere, or given back in tax cuts. They'll certainly be in contact with him, or with people who are. They did train him and Bush is mates with his family.

I remember the cries of outraged virtue which used to emerge from British politicians when it was proposed they do their job and produce a negotiated settlement with the IRA. It took one 1000lb bomb in the City of London, and threats from German and Japanese banks to withdraw, before they rushed to negotiating table and did a deal. It now turns out they were in contact with senior Republicans all along! Some, indeed, were on MI5's payroll.

That's partly why we elect politicians: to do deals with nasty people to stop them blowing us up, and to save us money on weapons. I suppose everyone's still pretending that Osama can't be negotiated with, so the war and the arms expenditure must continue?

[Florestan]

Originally Posted by Philidor

Well, it's time the CIA got negotiations going with OBL

What makes you think they haven't been in dialogue all along? Mmmmm-hmmmmmm?

[Philidor]

Originally Posted by Florestan

What makes you think they haven't been in dialogue all along? Mmmmm-hmmmmmm?

[ame="http://uk.youtube.com/watch?v=umMdHQRT67A"]YouTube - St. Germain on 14th October[/ame]

[Philidor]

October 7th, 2008

It is now Iceland’s turn to be swept up in the financial turmoil that’s been hitting everywhere in the world, the Icelandic government issued a statement saying it has taken control of Landsbanki the lead Icelandic financial institution, Icesave the internet bank has also been affected as it is part of Landsbanki banking brand stopping its savers from withdrawing their cash.

The Icelandic government sought to reassure domestic savers their money was safe after they nationalized Landsbanki, they announced that the depositors money was safe and fully guaranteed by the government, adding call centre’s, cash machines and domestic branches as well as internet operations would be “open for business as usual”. But bad news for UK savers of icebank, the guarantee does not extend to UK savers.

But as UK savers logged onto the ICesaves website they were greeted with a message telling them that the group were not currently processing any withdrawals or deposits requests on its internet account.

Concerns have grown over the weeks as to the health of the Icelandic banks, and the announcement on Monday from Iceland’s Prime Minister Geir Haarde warning the island that there is a real possibility” of “national bankruptcy” as the economy could get sucked into the “global banking swell”.

Although there have been no hard figures out regarding how many UK savers have money with Icesave, although the general census is about 300,000.

Source

[Alpha Centauri]

The situation in Iceland has been of much interest here at the Eastern End of Europe - despite the large phyical distance between Rejkyavik and Moscow.

The reason for the interest is described here:
http://www.bloomberg.com/apps/news?p...d=aMQ6B4zkOEf4

When asked why Iceland had approached Russia for these funds, Prime Minister Geir Haarde said at a press conference he was ``disappointed'' that ``we have not received the kind of support we requested from our friends.'' He declined to name countries Iceland may have approached for a loan, adding that the nation ``will absolutely not default on its foreign debt.''

It may not be entire frippery to give a second's thought to Iceland's topographical location, and thus its strategic importance...

[Philidor]

Most interesting. I remember the 1986 Reykjavik summit between Reagan and Gorbachev. Between negotiating sessions Gorbachev came out for a breath of fresh air and was asked by a reporter how he 'felt'.

'Hmmmm' said Gorby.* "There's an American nuclear airbase ten kilometers to the North, and a NATO special forces barracks fifteen kilometers to the South. So I feel very safe.'

Presumably that's Iceland's game -- sending the message to Washington: give us the money or we'll sell a base to Russia? Given their foreign debt is 12 times the size of their economy, what choice do they have? Either that or the entire population eats whale blubber for the next 20 years.

Have they approached China yet?





* Or possibly Shevardnadze -- it was 22 years ago!

[Florestan]

This banner ad just appeared on my webmail account




Er, isn't RBS teetering on the brink of collapse at the moment?


Presumably that is what they mean by 'Don't be too late'.

[Philidor]

Don't worry, we're safe now. George Bush’s favourite actor, Chuck Norris, has come out against the bailout.

Despite the heartbreaking passing of this bill, thank God 161 representatives and 25 senators opposed it and weren't enticed by the pseudo-urgent Wall Street panic, their own re-election pressures, or the Senate's pork barrel schmoozing. For example, I commend Rep. Don Young, R-Alaska, who voted "no" for the emergency economic bill, despite that the tax break for Alaskan fishermen was inserted to sway him to bite at the bailout. Rep. Young is correct, when he writes to his constituents, "... [T]his bill is nothing more than a slippery slope to Socialism."

Source

Fact: Chuck Norris can sneeze with his eyes open.
Fact: George Bush’s second favourite actor is....

Has Mr Mullet commented yet? Should he and Chuck come onside, surely a Golden Age of capitalism looms?

[micrologus]

Republican socialism

[haydnguy]

Chuck Norris, Economist.