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History remix!
Oct. 9th, 2008 09:44 pmFor some reason the whole thing with Iceland (and reading this article) has completely fried my brain into some kind of feverish late-stage-postmodern-capitalism bricolage, where unanchored free-floating event nodes are, like, remixed or something.
The IMF will have to bail out Iceland! This heralds the IMF coming full circle to its original post-WWII raison d'etre. History remix!
An IMF rescue program will come with the usual conditionalities, natch. Privatize, cut public expenditure, stimulate growth through (further) deregulation.
Article says: this has happened before but never in Europe or almost-Europe (some bizarre strategic-distancing phrasing in the article there--like when some family accidentally burns down their house, and the neighbors interviewed on TV make it clear that they weren't really friends, just saw each other around in the supermarket and chatted during PTA meetings), we are used to this happening in Argentina!
What Happened in Argentina happened because of the IMF conditionalities--privatize, cut public expenditure, stimulate growth through (further) deregulation.
IMF would make Iceland peg their currency to the Euro.
What Happened in Argentina happened because the peso was pegged to the dollar as a part of their "structural adjustment."
This is some kind of fucked-up remix by an insane Brechtian DJ who is putting on some kind of shadow puppetry morality play projected onto the crumbling fourth wall of "the global economy."
ETA
The IMF will have to bail out Iceland! This heralds the IMF coming full circle to its original post-WWII raison d'etre. History remix!
An IMF rescue program will come with the usual conditionalities, natch. Privatize, cut public expenditure, stimulate growth through (further) deregulation.
Article says: this has happened before but never in Europe or almost-Europe (some bizarre strategic-distancing phrasing in the article there--like when some family accidentally burns down their house, and the neighbors interviewed on TV make it clear that they weren't really friends, just saw each other around in the supermarket and chatted during PTA meetings), we are used to this happening in Argentina!
What Happened in Argentina happened because of the IMF conditionalities--privatize, cut public expenditure, stimulate growth through (further) deregulation.
IMF would make Iceland peg their currency to the Euro.
What Happened in Argentina happened because the peso was pegged to the dollar as a part of their "structural adjustment."
This is some kind of fucked-up remix by an insane Brechtian DJ who is putting on some kind of shadow puppetry morality play projected onto the crumbling fourth wall of "the global economy."
ETA
