Please, Please, Let Them Take it to Court!

Iceland should not enter into an agreement without exausting every legal avenue.  The debt that Iceland is required to pay is something that shoud be decided by the courts and not by the politicians. Especially since the politicians have made mistakes handling this issue since day one. The courts certainly can't force a worse deal on Iceland than the one it has now.   And it is not the Icelandic governments's job to bring the case to court.  That was a stupid question by the interviewer on Kastljós.  It is the British and Dutch goverments that must bring the case to a court.  They are the ones seeking repayment.  How the hell would Sigmundur Davið know which court the British or the Dutch should go to? 

The Althing needs to vote this agreement down, not only for the high cost but the ridiculous interest rate.  Who the hell negotiated that rate? Someone needs to be fired for that mistake.  Just vote this agreement down and get a better deal or let the countries sue Iceland.  The funny thing is, Britain and Holland say they don't want to sue.  Now why do you think that is? Any ideas, Steingrímur?  Here's one- because they think they might lose! 

 

GTB

Blekkingar, heimska og hótanir

Fólk er Fífl

It is never a surprise to see the oil companies trying to make even more money than usual by taking advantage of every single situation they can.   It sucks that they all do it but they are private companies and there is nothing stopping them from charging what they want for fuel. 

 However it is surprising that after all the three big companies have done here in Iceland, people continue to buy fuel from any of them.  It is difficult for people out in the country to buy from another company, but in Reykjavík and the larger towns there is no reason for anyone to keep buying fuel from the big three as they continue to screw the people every way they can. 

 If everyone tomorrow stopped buying fuel from only one of the three big companies for the rest of the month you would see the price drop.  One company deprived of it's earning will have no choice but to lower the price and then the rest will have to follow suit to stay competitive.  But we actually help them. Most of us seem to be content with the high price and  continue spread the wealth around as all the fuel stations are always busy selling their overpriced merchandise and so there is really no competition.

I know how the system works because the oil companies use the same system that the industry I worked for in the US used for milk prices.  No one could tell us how high the price of milk could go so we would raise it and then see what the competition did.  Usually they would follow. Sometimes they raised the price and we would follow.  This movement was hardly ever based on the cost of milk but on what people would pay for it.  We would only lower the price when the competition did or when the sales started to decline, meaning the customer had reached the point that they would no longer pay the higher price for milk and would go elsewhere.

The problem in Iceland is that no one seems to be going elsewhere.  People can't even go to the discount fuel stations. (Yes I know they are owned by the big three, except the company I use, Atlantsolia, but it would be better than paying the full price.)  They have continued to overpay at the same companies that they always complain about. When people are complacent about something, it never changes. So I guess the marketing director or Olís was right after all.

GTB

Skeljungur lækkar bensín

Ass Backwards

The only reason Samfylkingin wants to settle the Icesave problem is so the Iceland will be allowed to join the European Union.  The problem with that idea is Icelanders have not decided whether or not they want to join the EU.  So the first thing is to find out what is being offered by the EU, hold a  referendum, and  if for some strange reason Icelanders decide to join,  find an equitable solution to the Icesave problem. Paying first and joining later is not the right order.

I am in agreement with Sigmundur Davið that Icelanders need to let the courts decide what Iceland's legal obligation is and not let politics dictate a deal that is going to heavily burden the country for years to come, all to appease a few members of the EU.  What is needed now is for the members of Vinstri Grænir to show some balls and stand up for what they believe in rather than acting like sheep and doing everything Samfylkingin tell them to do all for the sake of holding onto power. If ever there was an issue to stand up for this is it.

 

GTB

Engin Icesave-greiðsla í 7 ár

04.06.2009

A man always has two reasons for what he does: a good one, and the real one.

- J.P. Morgan

No Change

The Central Bank will have no choice but to hold the prime interest rate at 13% for this month.  The kronur is still too weak for further reduction and any lowering will jeopardize the IMF installment in July.  That's just the way it is when you borrow alot of money, especially money from an institution like the IMF; they can, and usually do, tell you what you may and may not do.  They call it a program for a reason, and Iceland has to stick to it, or else do without.

 

GTB

Peningastefnunefnd í klemmu

Two Appropriate Quotes

Did anyone hear what was said? Are there transcripts? Recordings? Or are we just supposed to trust Guðni and take Davið's word for it.  I'm sorry but the man is simply trying to write his own legacy.  Although the "mínum húsum" part really does sound like something only a truly arrogant person would say, so it could be Davið.

And now for the quotes-

 

Number 1

History is a lie agreed upon- Voltaire

Number 2

Paper doesn't refuse ink- Lester Batson ( my grandfather)

 

GTB

Davíð lét AGS heyra það

Soon, Nothing will say Made in USA

Just one more thing Americans can buy that is Made in China.  The US is very good at introducing new products but not very good at producing them. The very system that encourages the ideas drowns out the ability to produce.   Americans want everything. But they also want everything cheap.  They get upset when good jobs go overseas but never want to pay one penny more for anything to keep the jobs in the US. 

 It should come as no surprise that the American car companies are in the decline.  They have not been making what the people want for some time now and they can no longer compete.  Some people want to blame the unions.  Always an easy target except that I doubt the Japanese and German workers get paid less. More close to the problem is the broken, overcharging US healthcare system and how expensive it is to businesses. Sure it's the best, if you can afford it.  Americans will always make fun of socialized healthcare.  They say they don't want their health decisions made by the government.  I guess they would rather have it made by the inurance company. I think by the time they figure out how to fix the system, there will hardly be any companies left to use it.

And for anyone wondering if the US Military will now have to buy their Hummer (known as a Humvee) from China, have no fear. The Military Humvee is made by AM General, not GM.  But that doesn't seem to matter as the Chinese and their reverse engineering have already made their own Humvee. (With the help and blessing of AM General!)

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Kínverjar kaupa Hummer