Interesting note over at Zero Hedge about the Irish bail out:
Today the myth of a popular, democratic government in Ireland collapsed for good. After an impromptu poll of 500 people nationwide found that a “substantial majority” of the people, or 57%, wants the State to default on debts to bondholder, what it ended up getting was precisely the opposite. Why? “Last night that the Irish delegation negotiating with the EU-IMF last week raised the issue of default. “The Europeans went completely mad,” a senior government source said.” Of course, this is a reason for the Europeans not to want an Irish default, not for the Irish…
Which is very true – and with elections upcoming in Ireland, will the Irish people give a big “FU” to the EU? They should – I mean it; they should vote in droves for whomever promises to default…and then, default.
I realize that we, the regular folks of the world, played our role in the economic melt down. No one put a gun to our head and forced us to go in to credit card debt, buy houses we couldn’t afford or, in general, get slack and want a high life without earning it. In payment for this idiocy, we are massively in debt, underwater on our homes and facing a long, grim climb back to prosperity. But it takes two to tango – and we were dancing with the banksters all the way to the poor house. And now we, out of our taxes and the future earnings of our children are to do, what? Bail out the banksters?
I don’t think so.
I’m not saying that default won’t hurt. In fact, the sudden end of the usurious, fiat-based economic model will be painful. If we here, in the United States, pulled the plug on all this asinine “stimulus” and TARP garbage, we would probably see unemployment skyrocket, maybe even as high as 25%. But that would only be temporary. An economy is not something orchestrated by government and the Federal Reserve. It is something which happens when people live – we all gotta eat, have clothes and some place to live. Unless you are a complete bum, you’re going to strive for what you need, especially if you’ve got a spouse and kids to look after. Faced with the stark choice, we’ll just get to work.
And if we don’t have a gargantuan government coupled with behemoth corporations standing in our way, we’ll do it. We’ll make things, mine things and grow things – and the things we need, not the useless feces which is shoved at us through advertising.
I do hope the Irish do this vital task – this first European step in telling Big Government and Big Corporation to get stuffed. We did it here in the US on November 2nd. Prayers and fingers crossed that they don’t let us down.
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