The little country that could.
When presented with a bad deal by the international community and the banks, Iceland said, “No thanks” and demonstrated the validity of the Austrian view that a short sharp shock is preferable to a long drawn out soft landing.
Meantime Iceland is #winning
Could it happen in the US as governments face revenue shortfalls?
Money response, re: what Hitchens and Totten see as the coming conflict with Iran:
The existence of theocratic regimes that have illegally acquired weapons of mass destruction, that are war with their own people, that are exporting their violence to neighboring countries, sending death squads as far away as Argentina to kill other people as well as dissident members of their own nationality—the existence of such regimes is incompatible with us. If there is going to be a confrontation, we should pick the time, not them.
People who don’t think twice about brutalizing their fellow countrymen aren’t about to stop what they’re doing because we ask them nicely.
More wisdom from the irascible Christopher Hitchens, interviewed by Michael Totten:
“The essence of totalitarianism is that it’s systematic, thorough, and absolute, but it’s also unpredictable and capricious.”
Hannah Arend couldn’t have said it better. Read the whole thing.
“we find a robust negative correlation between
unemployment and attacks against government and allied forces and no
significant relationship between unemployment and the rate of insurgent
attacks that kill civilians”