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Icelanders Vote on Predatory Bailout

By       Message Stephen Lendman       (Page 1 of 7 pages)     Permalink    (# of views)   1 comment

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Icelanders Vote on Predatory Bailout: Nyet - by Stephen Lendman

In his April 8 article headlined, "The Economic Crisis in Iceland: 'IMF Medicine' is not the Solution," Michael Hudson asked:

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"Will Iceland Vote 'No' on April 9, or commit financial suicide," their choice being:

Reject debt bondage or "subject their economy to decades of poverty, bankruptcy and emigration of their work force." 

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In other words, destroying the nation for profit, extorting its wealth, selling off its natural resources and public enterprises, raising taxes on working Icelanders, and transforming the country into a dystopian nightmare, what Merriam-Webster calls "an imaginary place where people lead dehumanized and often fearful lives," the opposite of utopia under conditions of deprivation, poverty, disease, violence, oppression, and terror, like in Orwell's Nineteen Eighty-Four.

In other writing, Hudson called debt bondage "as deadly as outright military" defeat. Loss of livelihoods and assets leave people vulnerable to sickness, despair, and early deaths, much like what happened in post-Soviet Russia under Washington-imposed "shock therapy" when:

-- 80% of farmers went bankrupt;

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-- around 70,000 state factories closed;

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