This is a dynamite op-ed written jointly by my good friend Marshall Auerback and Rob Parenteau.
Coming to a Country Near You
Let a Dozen Latvias Bloom?
By MARSHALL AUERBACK and ROB PARENTEAU
The article’s bottom line conclusion:
It is now time for the rest of us to follow the Lilliputians of Iceland: to take the rentier juggernaut down before it completes the task. Time to pry the vampire squid off our faces so we can see the light of day again and allow some semblance of humanity to flourish again. Hopefully, Iceland represents the future, not Latvia.
Phi Beta Iota: Iceland has led the way. It is time to start closing down the International Monetary Fund, the World Bank, and the outrageous misbehavior of Goldman Sachs and the other banks. Nations need to start nationalizing ill-gotten gains, refusing to pay predatory loan interest, and beginning to think for themselves. We certainly encourage judicial activism in confiscating foreign-owned land and structures and in blocking both the privatization of water and other commonwealth resources, while also blocking predatory and often hazardous or poisonous importations. Top-down government has been corrupted and does not work. The only means to achieve resilience is bottom-up “home rule.” We salute Iceland for its intelligence and its integiryt.