4 Responses to Six things you can’t talk about in Washington

  1. imhotep February 7, 2013 at 10:44 am #

    In short don’t talk about the failure of the Capitalist economic system. Never ever suggest that replacing Capitalism with,say, socialism might just be a good idea. In China the political class has come to the conclusion that the brand of Capitalism that they practice, which is far more restrictive then the brand of Capitalism that the USA practices, has caused widespread income inequality. They are setting up new rules to redistribute much of that accumulated wealth so that the everyday person can get a fair share of it. The political class which runs the United States is a gang of dumb,greedy bastards.

  2. jawbone February 7, 2013 at 11:50 am #

    Put this under things European which cannot be talked about: The Irish austerity “success” story, killing the people softly…now killing the Anglo Irish Bank.

    Last night, in rush legislation, Ireland dissolved the Anglo Irish Bank, which the Irish government (and Ireland’s population) is on the hook to pay 3.1 billion in Euros in interest annually. They are trying to get the EU central bank to accept government bonds at, hopefully, lower interest rates. The EU central bank has not yet agreed to any lowering of annual payments….

    Quote from Dealbook at the NYTimes:

    The European Central Bank is considering the country’s latest proposals on Thursday, though European policy makers are concerned that a deal with Ireland could set a precedent for other indebted countries, like Spain, whose local banks also are facing mountains of debt.

    As part of the deal to save Anglo Irish, Dublin injected more than 30 billion euros ($41 billion) into the local lender, of which around 28 billion euros is still outstanding.

    The bailout has saddled the government with 3.1 billion euros in annual interest payments, or roughly the same amount Irish politicians have said they would cut in yearly government spending to reduce the country’s debt levels. The local government has been eager to reduce that multibillion-euro figure by swapping the high-interest debt into long-term government bonds that can be repaid over a longer period.

    Ireland racked up huge debts in bailing out Anglo Irish and the rest of the country’s financial industry, eventually requiring a rescue package of 67.5 billion euros from the European Union and the International Monetary Fund in 2010. The authorities have demanded that Irish politicians slash government spending to reduce the country’s debt burden.

    End Quote.

  3. imhotep February 7, 2013 at 11:54 am #

    Capitalism at work. Bailout the 1% and take the money out of the hides of labor.

  4. lless February 7, 2013 at 7:31 pm #

    Take the Euro out from the protection of your counterfeiting laws and stand back and watch your debt dissolve.

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