Riot in Iceland - 21 january 2009 --- day two

[Joanne98]

Run time: 05:35 https://www.youtube.com/watch?v=VLGenQiDmQw   Posted on YouTube: January 21, 2009 By YouTube Member: Views on YouTube: 0   Posted on DU: January 22, 2009 By DU Member: Joanne98 Views on DU: 1216

 

[kanrok]

1. What are they protesting about?

Not enough lutefisk to go around?

[Joanne98]

2. The banking crisis. Iceland was one of the carry trade countries.

They've been slaughted. They even have to take a loan from the IMF.

[ExPatLeftist]

3. The government allowed the banking and venture capital businesses to run amok

And after the country went bankrupt, the sitting government did little or nothing, then passed some ridiculous laws, went on an extended Christmas holiday, refused to allow emergency elections despite an overwhelming outcry from the people. The same jokers that got us into this mess then claim to be the best ones to get us out of the mess, and tell the protesters to basically shut up and let the adults run the show. We have been protesting now regularly for months, and the intensity has increased, now reaching fever pitch.

BTW, lutefisk is Norwegian and not Icelandic. And we have real problems here since October - the krona is at half its value of a few months ago, inflation is astronomical, unemployment is skyrocketing and people are having an extremely difficult time and fighting to retake their country. Please excuse me if I do not have humor for your ignorant joke.


Edit: Adding link - the text on the page is in Icelandic, but the video is in English. It includes a decent overview of the situation. http://www.mbl.is/mm/frettir/innlent/2009/01/22/fjallad_um_motmaelin_vida/

[gasperc]

6. I been reading about the crisis in my WSJ

Left or right, I hope you get the opportunity to throw out whoever caused the mess and prosecute those that broke or abused the law.

[ExPatLeftist]

11. We are trying our best...

and it looks to be working. There is a struggle ahead, made more difficult by the fact that the very people we are trying to throw out are authorizing excessive force and trying to just shut the people up. That seems to never work, anywhere. Latest rumored plan I heard was that, in the snow and ice conditions already here right now, they may open up firehoses of near freezing water on the protesters so that we will get sick and cannot protest any more.

[grahamhgreen]

12. The country was destroyed by the neo-con 'free market', deregulation con game

[SlowDownFast]

17. What a stupid post.

If that was a joke, it was a shitty one. First of all, lutefisk isn't Icelandic. Second, this is serious stuff.

If you actually didn't know about the current unprecedented world financial crisis, the protests or why Iceland is rioting/protesting, go read some fucking world news sometime.

Iceland is just the beginning of this.

[Turborama]

4. That's more like a public disturbance than a riot

This was a riot in England

With commentary: http://www.youtube.com/watch?v=R3nYGoppmoA

With soundtrack: http://www.youtube.com/watch?v=zdVquOmFJ0U

Another version with commentary: http://www.youtube.com/watch?v=Wq7alhHpuhU

[ExPatLeftist]

5. Well, everything in Iceland must be considered relative to scale...

We have right at about 1/1000th (that's thousandth) of the population of the US. There is no military and a small police force. I agree that it was tame by the standards of other nations, which is largely due to the level-headedness of the Icelanders in general, but this is huge for here - and people are estimating that the government will fall before Monday.

[Turborama]

7. Fall by Monday? OMG!

But how, and then what?

Such a shame, Iceland was heading towards going carbon neutral as well.

Is this all down to yet another economy living a champagne lifestyle on beer money?

[ExPatLeftist]

10. After the fall of this government...

The only course I could possibly see after this government falls (well, is pushed) is that there would be new elections - Icelanders have had their parliament running for over 1000 years, and they are pretty attached to it... ;)

Regarding the environment, it can only get better, IMO (unless we are forced by external powers to change - such as the EU if we join it), because the party with the most power currently is the right-wing "Independence" party (though right and left are relative - the Independence party here is pretty far to the right by Icelandic standards, but would be well to the left of the US Democratic party. That goes for most parties throughout Europe). The Independence party has made big pushes to open the country for industry, and attempted to privatize much. But they now have almost no support. On the other hand, the Green Left party currently has the most support, and would likely gain the power seat if elections were held today. They would make environmental regulations even stricter, most likely, so the environment would improve, if anything.

Regarding champagne lifestyle on beer money - basically, yes, that is the case. A couple of companies from here started getting endless credit and help from the Icelandic banking system and government (who all happen to be bestest buddies), with which they proceeded to buy up a good share of Europe - including more banks, shop chains, football teams, whatever. It was a house of cards built on air.

In the end, Iceland was in debt to the tune of NINE TIMES the GDP of the nation. That ain't just bankrupt, it's digging a mighty hole.

It is now estimated that 16 individuals took down the economy of the entire nation.

[Hannah Bell]

14. "16 individuals took down the economy of the entire nation."

that's interesting? do you have some english material on this angle? or could you name some names? & were they local boys, or connected to overseas capital in some way?

[SlowDownFast]

18. Those 16 individuals had help from the likes of Alan Greenspan,

the current Fed and other countries' Central Banks, as well as CEO's of every major world financial institution.

And that's not mentioning the complicit multitudes of gov't leaders here in the US and worldwide that failed to see (or knowingly assisted) the implications of unregulated, unrestrained capitalist greed.

[florida08]

8. am so sorry

from what I've read it's very serious indeed:

REYKJAVIK, Iceland – Protesters hurled dairy products and rage at their elected leaders here during increasingly violent demonstrations this week over the handling of the country’s collapsing economy.

Parliament was suspended Wednesday and the prime minister’s limousine was attacked with snowballs and eggs.

Demonstrators are calling for immediate elections, but the prime minister appeared on television Wednesday night, saying his government has no intention of stepping down.

Both sides, it seems, are digging in for a fight. ( http://features.csmonitor.com/globalnews/2009/01/21/envious-of-obama-icelanders-hurl-yogurt-and-stage-riots-for-new-leaders/)

As an american I worry too about it here. As we print fiat money trying to prop it up we're creating a big hole for hyper inflation.
We have nowhere hit our bottom yet. God bless and protect you and your country.

[ExPatLeftist]

9. Thank you very much for your kind words. :) n/t

[depakid]

13. and also to the degree of hooliganism prevalent in the country

For example, Icelanders aren't generally known for tearing down soccer stadiums and setting them on fire....

[lostnotforgotten]

15. Iceland Is Bankrupt

eom

[tama]

16. Expatleftist,,

What's your take on the Left-Green coalition and their chances in the May election and forming a new governement? From here it looks that should that happen, that would be quite revolutionary...