Comments on: Meditations on money mania: Why we gorge on the financial buffet http://blogs.reuters.com/reuters-wealth/2011/10/24/meditations-on-money-mania-why-we-gorge-on-the-financial-buffet/ Fri, 05 Dec 2014 11:27:18 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: ARJTurgot2 http://blogs.reuters.com/reuters-wealth/2011/10/24/meditations-on-money-mania-why-we-gorge-on-the-financial-buffet/comment-page-1/#comment-8667 Sun, 30 Oct 2011 01:41:47 +0000 http://blogs.reuters.com/reuters-money/?p=21237#comment-8667 FYI, funny story – Iceland. Early in WW II the Brits needed to protect their N. Lant convoys so they invaded Iceland and built an airbase at Keflavik. Very quickly the relationship between the Brits and Iceies went very sour, and we ended up having to step in and take over the base (when the Brits left they dynamited their buildings in Reyk rather than turn them over to Iceland, there were still embedded fragments visible in buildings as late as ’72).

FF to circa ’72-73. The base at Kef is now key to ASW activity against Soviet subs in N.Lant, and Iceland is in the Cod War with the Brits (which consisted of the tug boat Thor sailing out to confront the RN frigates defending the cod boats against the Icelandic assault (throwing potatoes at the RN sailors (I AM NOT MAKING ANY OF THIS UP))). Anyway, Iceland threatens to turn the Kef base over to the Bolshies if they don’t get the Cod grounds. Nixon capitulates.

FF to financial collapse, and Iceland in hock to Brits, who have veto over Iceland entry into EU. There was a meeting in Reyk with a bunch of finance types in which Iceland tried to hardball repayment. One of the reps was a Russkie, and Iceland rep told U.S. rep in presence of Russkie that if they did not get relief they would turn Kef over to Bolshies. Russian rep looked at Iceland rep and replied that Russia had no interest in the air base at Keflavik. The Cold War actually ended that day, regardless of what history says.

It’s still going on, I saw an article about a month ago about Iceland trying to encourage Chinese tourism, and hinting that the base might pass to Chinese control.

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By: ARJTurgot2 http://blogs.reuters.com/reuters-wealth/2011/10/24/meditations-on-money-mania-why-we-gorge-on-the-financial-buffet/comment-page-1/#comment-8666 Sun, 30 Oct 2011 01:14:05 +0000 http://blogs.reuters.com/reuters-money/?p=21237#comment-8666 Lewis is really a mixed bag, though always a wonderful read. Personally I got hooked on Roger Lowenstein with “Genius Failed”, and find Lewis a pop culture equivalent.

But, the operating work here is neither Lewis or Lowenstein but good old Alex Tocqueville, who remains the only writer to give me deep insight into American culture. 1831 and Alex is pulling a gov’ment funded boondoggle and touring… well, the boonies. He observes an incredibly materialist culture, but also one that is deep in Calvinist religion. He ponders that a bit, and wonders what happens when the materialism is not checked by the moralism. Goldman Sachs maybe?

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By: johnwasik http://blogs.reuters.com/reuters-wealth/2011/10/24/meditations-on-money-mania-why-we-gorge-on-the-financial-buffet/comment-page-1/#comment-8636 Mon, 24 Oct 2011 21:05:19 +0000 http://blogs.reuters.com/reuters-money/?p=21237#comment-8636 This is a mostly secular point of view, but the idea of self control is embedded in nearly every major religion. I think Shakespeare said it best: “to thine own self be true.”

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By: BigZ1981 http://blogs.reuters.com/reuters-wealth/2011/10/24/meditations-on-money-mania-why-we-gorge-on-the-financial-buffet/comment-page-1/#comment-8634 Mon, 24 Oct 2011 19:42:51 +0000 http://blogs.reuters.com/reuters-money/?p=21237#comment-8634 It’s interesting that the fundamental message within this article lies in Christian doctrine. Self-control with your urge to spend (or hoard), or in making rash financial decisions fueled by emotions. Live within your means. Money problems are linked to other issues. Responsibility, accountability, patience, self-control, self-denial… I know there was no Christian basis mentioned in this article, but John’s “sensibility” I guess you could call it, is something we whould all have within us, especially Christians. We, as followers of Christ, are called to be liberal with our money, but also to save for those stormy times when immediate finances take a major hit.

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