February 26th, 2009

If you were to simply consider the huge debt levels we in the west have accumulated in the last two decades or so, and then take a look at what happened in the world - politically - during the last depression, the picture is not too positive. We all know what happened in Iceland recently, of course it's a very small country with a citizenry that is basically unarmed and nice enough not to use violence. Eastern Europe (Russia excluded) is brewing from anger as all the easy loans from western europe are starting to make their negative impact - and here latvians got rid of their government just recently.
All this debt has turned a lot of people into modern serfs, or debt-slaves. If the number of people in this situation and others badly hurt by the crash start to reach a large enough mass, they will start to make political demands. So far two european governments have been overthrown, in a very "friendly" manner. And this is just the beginning - the debt levels have not come down and governments are frenzied to find ways to tackle this problem, but to work against an avalanche of debt this size could prove impossible.
And still, even if Iceland had a change in government it doesn't really change anything, we have not seen a real revolution - the political systems in Iceland and Latvia are exactly the same as before and some minor tinkerings with policies won't make the mob happy. What the people have expressed in Iceland and Latvia is that they want an overthrow of a system that has ruined everything, and they want a fresh start without the debts. These debt-slaves and/or debt-victims will continue to grow in numbers and with interventions that do nothing but prolong the process the politicans who had been hoping to stave off revolution, do in fact make it more likely. So, when we talk about political risk, we should be talking about where the highest debt-levels are, and they are in the US.
What would happen if US-citizens started demanding a new government, like in Iceland or Latvia, or maybe even a new political system? Do you think that Obama would be willing to just declare himself defeated and give up his seat? (Yes, here comes a tirade of Obama-bashing) This is a guy who consistently refuses to admit when he's wrong, who calls those who dissent him 'cowards' or 'irresponsible'. He claims to be transparent and willing to discuss everything - as long as the outcome is that he gets it his way! He talks down to or mockingly laughs at reporters who remind him of his lies or faults. This is a man who, unlike Bush, not only thinks he's right - he KNOWS he's right and won't stop to reconsider any of his decisions. He would not willingly leave his seat, because he's Obama and he knows best. Watch any number of interviews with Obama and you couldn't spot one moment where he doesn't give of an aura of authoritarianism and complete self-righteousness. Lets just pray that the people of America don't start to demand a change - not an Obama-change - I strongly doubt they will get one without violence. Lets hope I'm mistaken.

I don't know how informative that was? Maybe you think I simply hate Obama for whatever motive - but I'm telling you if you simply watch a bunch of his interviews or interactions with other politicans, you'll start to see what I'm saying. Maybe this creepy video can give you a hint of what the Obama-athmosphere can do to people...

good Obama-article: http://www.antiwar.com/justin/?articleid=14319