![kid cuisine ice age 2 the meltdown kid cuisine ice age 2 the meltdown](https://c8.alamy.com/comp/2B90GFX/ice-age-2-the-meltdown-2B90GFX.jpg)
Shock waves went around the world when the IMF, the EU, and the ECB not only approved but mandated the confiscation of depositor funds to “ bail in” two bankrupt banks in Cyprus. In a big derivatives bust, there may be no collateral left for the creditors who are next in line. Derivatives have “super-priority” status in bankruptcy, and Dodd Frank precludes further taxpayer bailouts. Even “secured” creditors, including state and local governments, may be at risk. And, of course, he’s right to do so.Ĭyprus-style confiscation of depositor funds has been called the “new normal.” Bail-in policies are appearing in multiple countries directing failing TBTF banks to convert the funds of “unsecured creditors” into capital and those creditors, it turns out, include ordinary depositors. He spares no one and directs his anger at both of our major political parties. He’s angry with leaders who don’t lead and politicians who make promises they don’t even try to keep. He makes no attempt to hide it – and no apologies. In fact, it’s probably more central as a motivating force behind our dysfunctional politics than either. We recognize it when we see it – in others, that is – but it’s here, too, it’s on the rise, and it explains as least as much about politics in contemporary America as such other deadly sins as greed and power lust.
![kid cuisine ice age 2 the meltdown kid cuisine ice age 2 the meltdown](https://i.ebayimg.com/images/g/7-IAAOSwkFZcRoQ~/s-l400.jpg)
Anger like everything else has gone global. There’s a lot of anger in America, Europe and the Middle East and, come to think of it, everywhere. His is a story of a city suffering from a chronic condition that has taken an ugly turn and become terminal. Remarkably, LeDuff’s chronicle of Detroit’s descent avoids partisan rancor. It’s a powerful book that speaks volumes not only about Detroit but also about most big cities in America today – cities where petty crime, gang violence, drug addiction, prostitution, poverty, vandalism, vagrancy, filth, abandoned buildings, arson, and despair have been on the rise for decades. The quote above forms the last paragraph of a review of Charlie LeDuff‘s gut-wrenching book, Detroit, An American Autopsy. This is a story about the politics of anger. It is a warning of the future to come for millions of Americans.” With cities and states across the USA not far behind and teetering on the brink of bankruptcy, Detroit is no longer just a punch line. After 50 years of failed government promises in Detroit, the money has dried up, welfare has run out and the city is headed for fire sale. “Fifty years after the atom bomb, Hiroshima and Nagasaki are gleaming, thriving metropolises.