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February 09, 2009

New Tomdispatch

link

The Icelandic Volcano Erupts
Can a Hedge-Fund Island Lose Its Shirt and Gain Its Soul?

by Rebecca Solnit

In December, reports surfaced that Treasury Secretary Henry Paulson pushed his Wall Street bailout package by suggesting that, without it, civil unrest in the United States might grow so dangerous that martial law would have to be declared. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), warned of the same risk of riots, wherever the global economy was hurting. What really worried them wasn't, I suspect, the possibility of a lot of people thronging the streets with demands for social and political change, but that some of those demands might actually be achieved. Take the example of Iceland, the first -- but surely not the last -- country to go bankrupt in the current global crash.

While the United States was inaugurating its first African-American president, Icelanders were besieging their parliament. Youtube video of the scene -- drummers pounding out a tribal beat, the flare and boom of teargas canisters, scores of helmeted police behind transparent plastic shields, a bonfire in front of the stone building that resembles a country house more than a seat of government -- was dramatic, particularly the figures silhouetted against a blaze whose hot light flickered on the gray walls during much of the eighteen-hour-long midwinter night. People beat pots and pans in what was dubbed the Saucepan Revolution. Five days later, the government, dominated by the neoliberal Independent Party, collapsed, as many Icelanders had hoped and demanded it would since the country's economy suddenly melted down in October.

The rest.

—Jonathan Schwarz

Posted at February 9, 2009 11:23 AM
Comments

"Five days later, the government, dominated by the neoliberal Independent Party, collapsed, as many Icelanders had hoped and demanded it would since the country's economy suddenly melted down in October"
And there it is. Nobody's complaining about it, much, until the flaws hit home. Nothing moral, ethical, or etcetrical. Just thwarted up gimme and where's mine. And where'd mine go.
The core failure is the elevation of selfishness to species-wide essential quality. And what happens when the tower of selfishness collapses in on itself is...people get even more selfish.
It would be small comfort but comfort nonetheless to see the general run turning toward those voices raised in alarm before the fan got hit by all this fecal matter.
William Greider comes to mind.

Posted by: roy belmont at February 9, 2009 01:14 PM

"Mine. Mine mine mine. I got mine, getcher hands off.
Selfishness got us into this, and by golly, selfishness is gonna get us out."
Lots of things are "popular" in "our" culture right now, stunned bewilderment being one of the least functional but most common.
The only cure for these mixed metaphors is...fasting! A balanced diet! Or...eating the constitution!
Or humility, compassion, the age-old litany of virtues.
The sun actually doesn't rise at all, Tim, it moves through space, yes, but it's the turning of the earth on its polar axis that creates the illusion of the rising and setting sun.
Illusion, keyword.
"Bjork eats whale meat, nyah nyah."

Posted by: roy belmont at February 9, 2009 02:37 PM

tim: I'll not criticize President Obama over this stimulus package as there is absolutely no-one who has ANY real idea if it will work or not. ALL the king's horses and All the king's men are just as ignorant of EGG surgery as U&I. (and I promised Rupa Shah 100 days) He MUST try something, I agree. I also agree WE are being robbed, but WE agreed to that with Bush and Cheney. (FAILURE TO IMPEACH) OUR collective actions (and inactions) as a nation have brought US here. Sometimes U&I have to pay for what WE got, for what WE've done, for what WE didn't do. NOTHING comes without a price. Its PAYBACK time on OUR 66 trillion dollar worldwide ripoff and its gonna hurt a little. I hate to beat a dead horse, the 2000 election theft WAS the time to grab YOUR .45, and me my .44, and hit the streets like post-election Mexico. WE didn't so NOW WE pay, one way or another. Now that the whole world is fucked, there's nowhere to run, no place to hide. I spent a lot of time at sea, far from land, and I've found that sometimes ALL U can do is anchor off and ride it out.

Posted by: Mike Meyer at February 9, 2009 02:48 PM

Illusions is the game, eh? How about the illusion that writing big checks is going to save something by 'stimulus'. Big checks that somehow are cool now that the black monkey is pushing them, but wasn't when the white monkey was. Somehow neoliberal is better than neoconservative. LOLZ LOLLIN LA LA

Don't worry I'm not trying to convince you that I'm right, I'm content to let time do that.

Posted by: tim at February 9, 2009 02:54 PM

there is absolutely no-one who has ANY real idea if it will work or not.

That depends on what your definition of work is. I know it won't work by my definition, and I suspect that Barry's definition is quite likely not the same as mine. If that makes me selfish tough. Catch me when you are suffering the hangover from this and try to convince me then suckers.

Posted by: tim at February 9, 2009 03:03 PM

tim: MY hangover started in Jan 2001 while U were still deep in the punchbowl.

Posted by: Mike Meyer at February 9, 2009 03:08 PM

Mike: word. you gotta drink through that thing.

Posted by: tim at February 9, 2009 03:40 PM

mmmmf. "the only valid part of the house of law is the foundation. or maybe the blueprint. 200+ years later, if you have a roof over your head, you're a traitor."

easy livin'....

Posted by: hapa at February 9, 2009 04:24 PM

I didn't promise Obama, I promised Rupa Shah.

Posted by: Mike Meyer at February 9, 2009 08:14 PM