SOTGD is my roll out blog for a self produced album of the same name as well as a diary of life during amerika's 2nd economic depression during this early 21st century. Why the "k"?
Icelanders used the referendum to express their outrage at being asked to take on the obligations of bankers who allowed the island’s financial system to create a debt burden more than 10 times the size of the economy.
Because Dorothy, we aren't in Kansas anymore...
Yesterday, my bank was robbed, it rained all day and i spotted 2 people living in the bushes under the 710/405 junction. 93% of Iceland voters turned down the ironically named Icesave bill in a historic referendum, which would have saddled citizens with an additional $16k in per capita debt to compensate the UK and Holland with a $5.3 billion note for the failure of Landsbanki.
Icelanders used the referendum to express their outrage at being asked to take on the obligations of bankers who allowed the island’s financial system to create a debt burden more than 10 times the size of the economy.
In amerika meanwhile, OUR oligarchs were made whole at the public's expense despite public sentiment running against the TARP bailout at 300:1. That public is only now beginning to feel the full effects of the $ transfer that has occurred: as businesses large and small continue to close, as the numbers of homeless grow, as layoffs continue, as tuition increases and classes are cut, as banks go under, as banks (AND homeowners) are robbed, wages and hours worked decline and as people are thrown off unemployment roles, out of their homes and into destitution and desperation.
Yet protest remains a fringe activity though there is a palpable, sullen sense of unease...
People are slowly waking up, as if from a coma, to the fact that they've been had. People also seem to be slowly waking up to the fact that they may have been complicit in the country's predicament (at least in SoCal... around here folks will rarely meet your gaze in public anymore... or, like the hard townspeople of Frank Capra's "Pottersville", are we simply bothered by one another's presence now in adversity and by the invisible sense of "judgement" that surrounds us like a cloud?
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