Stacy Summary: I think Michael Hudson’s ideas are trickling down. Things sound bad right now, but apparently it doesn’t get really bad til next year when full frontal assault by IMF austerity conditions.
Anger among ordinary households has led to plans for a two-week repayment strike starting on Thursday. It has been organised by the Icelandic Home Coalition, a new grassroots movement.
Anger is in large part focused on a belief that ordinary working people, who never sought to take huge financial risks, have been forced to pick up the tab for an elite band of aggressive business tycoons, a few of whom may have been fortunate enough to salt away some of the spoils of their own recklessness before their luck turned.