Chris:(in reference to the governmental collapse in Iceland)
Iceland has been mired in crisis since the collapse of the country's banks under the weight of debts amassed during years of rapid expansion. Inflation and unemployment have soared, and the krona currency has plummeted. Haarde's government has nationalized banks and negotiated about $10 billion in loans from the IMF and individual countries. In addition, Iceland faces a bill likely to run to billions of dollars to repay thousands of Europeans who held accounts with subsidiaries of collapsed Icelandic banks.”
Does this sound familiar to you at all? Bank bailouts, massive debts amassed during years of rapid expansion, Inflation, unemployment, the value of the currency plummeting. I think this is where we are headed if we don’t stop all of our bailouts. Maybe not an exact match of the size of protests Iceland has had, but it is a possibility and something I think our government should be paying more attention to.
TAE:
You know, sometimes I wonder if a total governmental collapse isn’t just what the doctor ordered. In computers, when your computer runs poorly you add RAM, or run a virus scan, or run spybot, and try to clean up your hard drive and defrag it. Then you maybe get a new graphics card, add more ram, etc etc but eventually your computer sucks and there isn’t anything else left to do to it except throw it in the trash and get a new computer…I guess I wonder if these bailouts…and more bailouts…and stimulus packages…and now more stimulus…are just the government trying to add RAM to itself in order to keep working well enough to get by…when in fact a shiny new computer would work much better, and be much cheaper.
Chris:
I agree with a lot of that. I have been completely against all of the bailouts and I’ve been saying since this started that its VERY unfortunate but these companies that need to be bailed out just need to collapse. They need to fail so that other companies will pop up in place of them that are better managed. The bad thing about all that is like you said; lots of people would lose their jobs. However, if we keep pumping them up with bailout money we are just staving off the inevitable all the while throwing our country in more and more debt as we decide to just throw more borrowed money at companies to try to keep them afloat.
Chris and I agree that a governmental collapse would be a hard thing, and many would suffer while a new government was established. And I fear that the new government would end up more controlling, more militaristic, and less desirable than the old one. But many are suffering now! The government has unprecedented control already! The military spending budget has never been higher! Before the last election, approval in Congress was at an all time low, and little has changed - certainly not the structure of government, which if anything, is threatening to get larger and even more ponderous and intrusive.
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