In a major victory for taxpayers in Iceland, an obscure transnational court ruled against the European Union and a similar supranational body last week, deciding that the tiny population of the island nation was not responsible for the massive liabilities of a private Icelandic bank that went bust during the 2008 economic meltdown. Establishment analysts blasted the decision as a “blow to global banking,” but Icelanders and proponents of the free market celebrated the verdict as a big win for the people and market principles — after all, they argue, citizens should not be forced to pay for the reckless and potentially criminal actions of a few bankers, widely criticized as “banksters” in recent years.
The New York Times reported last week that the Defense Department plans to build a drone base in northwest Africa to enable it keep a closer eye on African organizations believed to be associated with the larger al-Qaeda network.
In an ironic but predictable development that has establishment analysts scratching their heads and human-rights organizations up in arms, brutal communist dictator Raul Castro of Cuba just assumed the rotating presidency of a regional “integration” body that touts itself as being in favor of “democracy.” Upon assuming his new role, the Marxist tyrant, who leads one of the most oppressive regimes in the world and will now be charged with running the supranational CELAC bloc, celebrated what he called "a common vision for the Latin American and Caribbean homeland.”
The Russian city of Volgograd renames itself Stalingrad for five days a year, after Soviet communist dictator Joseph Stalin, in order to commemorate historic World War II events.