Economics

Reason Morning Links: Bombs, Foreclosures, and the Palmetto State

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• Violence marks the Iraqi election.

• A new approach to dealing with foreclosures: paying homeowners to sell.

• Iceland rejects a $5 billion debt repayment plan.

• Europe may establish its own IMF.

• South Carolina mulls repealing its law requiring subversive organizations to register with the state.

NEXT: A Sorry Complaint About Obama

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  1. South Carolina, the last stronghold, is finally letting the Reds into the pantry. Way to spill the beans, Missourah.

  2. I think the headline would be more actuate if it said “Iceland rejects $5 billion extortion plan”.

  3. Enjoy the stupidity of the Pennsylvania Liquor Control Board.

    http://www.philly.com/philly/n…..aint_.html

    1. They didn’t mention if Paddy’s was raided.

    2. They also didn’t mention that the linked philly.com web site is hacked with a pdf trojan. Click at your own risk.

      1. Yeah, I got a little taste of that. Probably one of the ads. As soon as the Adobe Enduser Agreement popped up for no reason I knew I was screwed.

        Another reason to hate Filthadelphia.

    3. You know, messing with beer could be the tipping point we need. Most people put up with regulation and fees and kind of just shrug it off as stupid government but they never do anything about it. Skunk 61 gallons of beer due to overbearing regulation and fees and you might spark a revolution.

      And, does anyone think the “complaint” was filed by the bar’s competitor? Yeah, me too.

      1. Skunking is caused by light. Its a result of light interacting with hops. So, depending how they store it, skunking shouldnt be a problem. However, some beers will go bad (but not skunk) in 6-8 months, although the Sour Flemish Red and the Duvels should be okay, they should just age nicely.

        1. Yeah, I guess the cops and alcohol board guys can’t skunk beer by ingesting it either. My bad.

  4. Iceland should reject ANY payment plan.

    If Great Britain and the Netherlands decided to make all those depositors whole, that’s their business. They should tip their hats and say, “Thanks, guys!” and then give them the finger.

    1. Seriously. And the fact that the UK & the Netherlands are currently trying to rip off the innocent taxpayers of Iceland should give them pause about whether they really want to join the EU.

      1. For a country that is trying to stay afloat economically, the last thing they need is to have two 1,000 pound rocks called Greece and Spain tied to them.

  5. Violence marks the Iraqi election.

    Surprise, surprise, surprise!

    1. Well Surprise, surprise, surprise! That ain’t my finger!

      1. Well Surprise, surprise, surprise! That ain’t my finger!

        I know, Jim. And thank you.

    2. I wonder if the media is going to mock the purple fingers this time around. Oh wait, it’s Obama’s war now, so now the elections are a stupendous achievement.

      1. No, it’s only funny the first time. Wouldn’t have matter who was President.

  6. Unless those accounts were backed by Iceland’s government through some sort of FDIC equivalent, I don’t see how there is any debt to repay. The money is gone.

    1. In fact, they were backed by deposit insurance. That’s the issue- Iceland decided not to make good on its promise.

      1. If it was the Iceland government backing it, it wasnt really insurance.

      2. That’s not the issue as I understand it– I thought that Iceland’s government didn’t explicitly back it beyond what they’ve paid, but the depositors thought that it was government backed. In which case the other European nations shouldn’t force Iceland to assume the debt because they choose to bail out their own citizens.

        I freely admit that I’m a bit vague on the details of this one.

  7. For the administration, there is also the concern that millions of foreclosures could delay or even reverse the economy’s tentative recovery ? the last thing it wants in an election year.

    Well, at least the administration is not offering “relocation assistance” to vote Democrat.

  8. Heard a nice little shout-out to the Drew Saves Cleveland project this morning on my local NPR station, of all places.

  9. UK HEALTHCARE: Neglected by ‘lazy’ nurses, man, 22, dying of thirst rang the police to beg for water…

    A man of 22 died in agony of dehydration after three days in a leading teaching hospital.
    Kane Gorny was so desperate for a drink that he rang police to beg for their help.
    They arrived on the ward only to be told by doctors that everything was under control.
    The next day his mother Rita Cronin found him delirious and he died within hours.
    She said nurses had failed to give him vital drugs which controlled fluid levels in his body. ‘He was totally dependent on the nurses to help him and they totally betrayed him.’

    http://www.dailymail.co.uk/new…..z0hazTE3di

    1. Best quote:

      The tragedy emerged a week after a report into hundreds of deaths at Stafford Hospital revealed the appalling quality of care given by many of the nurses.

      This week a task force called on nurses to sign a public pledge that they will treat everyone with compassion and dignity.

      Yeah, that should take care of it.

    2. Nothing to see here.

  10. The “subversive activities registration act” requires any group that advocates overthrowing local, state or federal governments to pay $5 and register the group’s name, its leader’s address, beliefs, all members living in South Carolina and check yes or no to the following: “Do you or your organization directly or indirectly advocate, advise, teach or practice the duty or necessity of controlling, seizing or overthrowing the government?”

    That could be a serious revenue generator.

    1. Hmm, I’ve always wanted to overthrow my local water and sanitation district. Does that count?

    2. Do you or your organization directly or indirectly advocate, advise, teach or practice the duty or necessity of controlling, seizing or overthrowing the government?

      I eagerly await the AG seizure of the assets of the Democrat and Republican parties for answering “no” and thus misrepresenting their intentions.

  11. Short sales are “tailor-made for fraud,” said Mr. Lawler, a former executive at the mortgage finance company Fannie Mae.

    At least they went to an authoritative source for that quote.

  12. If it was the Iceland government backing it, it wasnt really insurance.

    “I will gladly pay you Tuesday, if you give Wimpy a hamburger, today.”

  13. UK HEALTHCARE: Neglected by ‘lazy’ nurses, man, 22, dying of thirst rang the police to beg for water…

    Don’t worry, Buster! It’ll be different over here, somehow!

    1. I guess it’s okay. The guy was 22, so he’d already lived a full life.

  14. This week a task force called on nurses to sign a public pledge that they will treat everyone with compassion and dignity.

    If only every problem could be so easily solved. May be we can get the Insurance Barons to sign a “Fairness Pledge”.

  15. It took a task force of presumably more than one government employee to devise the pledge? And they thought that would work? How many assholes does it take to change a CFL…thingy?

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