Cyprus bailout: crazy and dangerous

5 thoughts on “Cyprus bailout: crazy and dangerous”

  1. The situation in Cyprus ( and elsewhere) is tragic. It underlines again amongst other truths, that we cannot have it all today and pay for it tomorrow.
    It also shows us the enormity of inequality in the world and how none of the political systems have an answer. Philip Blonde has some interesting things to say in “Red Tory”,
    If a person has $2,200 dollars in total they are among the top 50% richest in the world.
    If you earned 15`000 dollars last year you are probably inn the worlds top 20% earners. If you have $61,000 dollars of asset’s( (in total) you are in the worlds richest 10%. Yet we all want more!!!!
    As a christian, I find that I am supposed to be part of the answer not the problem. Its a massive personal challenge. I wonder if everybody could adjust their incomes to redress the balance!!!!?

  2. It wasn’t too long ago that I thought that the people of America, at least those who took up this position, who so violently want to defend the 2nd Amendment which allows them, apparently, to bear arms just in case a rogue government should arise, were raving right wing lunatics. Now I’m not so sure. ‘Taking up arms against a sea of troubles’, does now not seem such an improbable idea or an outcome. Revolution indeed. I have no idea how I would react were such a proposal made here in England. Whatever the cause, to go into my bank account and strip it of any amount would to me be tantamount to just cause to indeed take up arms by some means or other. The thin end of the wedge indeed! I cannot believe someone would actually seriously propose doing that and imagining people would go along with it whatever the outcome or justification. Sounds like an idea Hitler would propose, quite frankly.

    I watched a programme a few months ago, it may have been a re-run. ‘Inside the Medieval Mind’ I believe it was called. An esteemed History professor was talking about ‘The Black Prince’, who went over into France to subjugate the rising tide England faced. He massacred 3 000 people in a town, men, women and children. French Knights took note and immediately claimed he spare their lives on the old ‘Knights agreements’ that had existed for many a long year and indeed their lives were spared, their social classes and standings were respected by the other side, whilst the innocent poor were slaughtered.

    The esteemed professor looked at the camera and said, ‘How little changes’, or words to that effect.

  3. I think James Meek on the LRB blog sums it up nicely. I guess the wealthy will find a way to wriggle out of paying leaving people with more modest savings to bear the brunt. How much will people continue to take lying down?

  4. “Unbelievable idea – Can you imagine this happening in this country? – no government would survive surely.”……

    Oh but in a sense it already has happened here, I was one of those people outside Northern Rock some years back to rescue my life savings. I was laughing at first, even mocking those lining up. What made me act was seeing Alastair Darling on TV telling everyone there was nothing to be worried about. That scared the hell out of me! The only reason the bank was rescued was precisely because it would have caused a run on all the banks

    Now lets look at the here and now and “a democratically agreed tax” .The government has helped itself to huge sums of money taken from hard working people. I am talking about the public sector workers whose pensions have been permanently damaged by the tory raid switching from RPI to CPI index, not content with limiting their pay rises to 1%. Then we have the whole raft of stealth taxes inc the ridiculous thieving APD which amounts to a tax on your holiday. Think about the pensioners whose savings have also been ruined by the 0.5% bank rate. The government makes a large sum of money available to banks so they can lend it out for businesses and home-buyers. So what do the banks do? They lend it back to each other, which means they dont need pensioners savings and so have no need to offer any eye catching savings rates so savings rates are actually still dropping!.

    The problems in Cyprus, the problems here are all the fault of politicos who are elected to serve Joe Public but who in fact serve their party first, then serve themselves. They all cosy up to big business inc Labour because many want to go off and earn big buck with these same large institutions when their MP days are over. We need a Boston Tea Party, a quiet peaceful revolution and a new way of living because capitalism seems to be coming to the end of its days…………

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