Legalize Pot, or bail out White Collar Criminals?

From Overcompensating:

So Obama laughed at the idea of legalizing pot and taxing the crap out of it. Whatever, man. An economy given a bit of assistance from a thing that makes you kinda weird and mellow (not to mention the medicinal uses) makes a little more sense as an economy based on the “gut feelings” of a few hundred coked-up twentysomethings, that places more value on “speculators” than people who actually do work. But that’s cool, we’ll just keep weed illegal and continue to spend hundreds of billions of dollars keeping people in prison who sold some weed and maybe the Mexican drug cartels will just magically cool out if we ignore the problem. Yup.

Too right. The biggest thing I reckon to come from the financial crisis is that it seems that no-one actually knows what’s going on, or how to fix it. Further, when they talk about “investor sentiment” in the press and how it is so fickle, they tend to not include themselves in that group. Perhaps they should.

The Long Johns had a great skit on it.

Monbiot on the IMF and the current financial crisis

But there was one country – at the time the world’s biggest creditor – in which his proposal was less welcome. The head of the US delegation at Bretton Woods, Harry Dexter White, responded to Lord Keynes’s idea thus: “We have been perfectly adamant on that point. We have taken the position of absolutely no”

Can you guess which country that was? I'll give you a clue: the same country that has veto power in the UN also has veto power in the IMF…

Read the full article here.