1. “”Vulture Capitalism”: Iceland’s New Bank Disaster
A Dress Rehearsal for Greece and Italy?
In the United States, the crisis that Obama Chief of Staff Rahm Emanuel celebrated as “too good to let go to waste” will be capped by scaling back Social Security and Medicare as soon as the autumn Doomsday Clock runs down and the Congressional Super-Committee of 12 (with President Obama holding the 13th vote in case of a tie) gets to agree to make the working population pay Wall Street for its bad loans. The Greek austerity plan thus serves as a dress rehearsal for the U.S. – with the Democratic Party playing the role as counterparts to Greece’s Socialist Party that is sponsoring austerity, and expelling labor union leaders from its ranks if they object to the grand double-cross. ”
2. “Who Said Gaddafi Had To Go?
So Gaddafi is dead and Nato has fought a war in North Africa for the first time since the FLN defeated France in 1962. The Arab world’s one and only State of the Masses, the Socialist People’s Libyan Arab Jamahiriyya, has ended badly. In contrast to the bloodless coup of 1 September 1969 that overthrew King Idris and brought Gaddafi and his colleagues to power, the combined rebellion/civil war/ Nato bombing campaign to protect civilians has occasioned several thousand (5000? 10,000? 25,000?) deaths, many thousands of injured and hundreds of thousands of displaced persons, as well as massive damage to infrastructure. What if anything has Libya got in exchange for all the death and destruction that have been visited on it over the past seven and a half months?”