Iceland Booms As The World Struggles

[expandspanos]

Iceland did what we should have done a few years ago, and kicked the bankers out, and got their government back.. helped fix their "mess" overnight.

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[youtube]http://www.youtube.com/watch?v=8-SiYQ8s_6I[/youtube]

Iceland Booms As The World Struggles

REYKJAVIK, Iceland – For a country that four years ago plunged into a financial abyss so deep it all but shut down over­night, Iceland seems to be doing surprisingly well.

It has repaid, early, many of the international loans that kept it afloat. Unemployment is hov­ering around 6 percent, and fall­ing. And while much of Europe is struggling to pull itself out of the recessionary swamp, Ice­land’s economy is expected to grow by 2.8 percent this year.

“Everything has turned around,” said Adalheidur Hedin-sdottir, who owns and runs the coffee chain Kaffitar, the Star­bucks of Iceland, and has plans to open a new cafe and start a ■ bakery business. “When we told the bank we wanted to make a new company, they said, ‘Do you want to borrow money?’” she went on. ‘We haven’t been hear­ing that for a while.”

Analysts attribute the surpris­ing turn of events to a combination of fortuitous decisions and good luck, and caution that the lessons of Iceland’s turnaround are not readily applicable to the larger and more complex econo­mies of Europe.

But during the crisis, the country did many things dif­ferent from its European coun­terparts. It let its three larg­est banks fail, instead of bail­ing them out. It ensured that domestic depositors got their money back and gave debt relief to struggling homeowners and to businesses facing bankruptcy.

[89Hen]

I love when people take something the size of Kentucky with half the number of people of Vermont and think that will somehow correlate to a good model for anything in the US.

[dbackjon]

I love when people take something the size of Kentucky with half the number of people of Vermont and think that will somehow correlate to a good model for anything in the US.

[Grizalltheway]

I love when people take something the size of Kentucky with half the number of people of Vermont and think that will somehow correlate to a good model for anything in the US.

Canada's banking system would serve as a great model for ours.

[Chizzang]

We can't let our banks fail because we're inextricably tied to the European banks...
A convoluted tangle of BANKING mazes from which it is impossible to get free

Our Federal reserve system - which as we all know is actually a privately owned system of banks that use the bullshit triangle of death deliberately and innocuously referred to as - member banks, Federal Reserve Banks, and the Board of Governors...

I could go on but I've already become exhausted - the levels of fraud perpetrated on the US citizenry is astonishing

[CitadelGrad]

We can't let our banks fail because we're inextricably tied to the European banks...
A convoluted tangle of BANKING mazes from which it is impossible to get free

Our Federal reserve system - which as we all know is actually a privately owned system of banks that use the bullshit triangle of death deliberately and innocuously referred to as - member banks, Federal Reserve Banks, and the Board of Governors...

I could go on but I've already become exhausted - the levels of fraud perpetrated on the US citizenry is astonishing

What he said.

[Rob Iola]

We can't let our banks fail because we're inextricably tied to the European banks...
A convoluted tangle of BANKING mazes from which it is impossible to get free

Our Federal reserve system - which as we all know is actually a privately owned system of banks that use the bullshit triangle of death deliberately and innocuously referred to as - member banks, Federal Reserve Banks, and the Board of Governors...

I could go on but I've already become exhausted - the levels of fraud perpetrated on the US citizenry is astonishing

The LIBOR scandal is but the tip of the proverbial iceberg...

[Ivytalk]

And Iceland has the pretti wimmin, like Helga Svendsensdottir and Inga Gildobiesdottir....

[Baldy]

I love when people take something the size of Kentucky with half the number of people of Vermont and think that will somehow correlate to a good model for anything in the US.

Canada's banking system would serve as a great model for ours.

Exactly.

[89Hen]

And Iceland has the pretti wimmin, like Helga Svendsensdottir and Inga Gildobiesdottir....

Don't forget Ivanna Sittonurdik.

[AZGrizFan]

And Iceland has the pretti wimmin, like Helga Svendsensdottir and Inga Gildobiesdottir....

Don't forget Ivanna Sittonurdik.

I thought she was Russian.

[Ibanez]

I had no clue the TD Banks which have taken over in Charleston is a subsidiary of TD Bank out of Canada.

[grizzaholic]

I love when people take something the size of Kentucky with half the number of people of Vermont and think that will somehow correlate to a good model for anything in the US.

Canada's banking system would serve as a great model for ours.

I don't see how using foreign currency will help with fixing anything.

[JohnStOnge]

What he said.

You know, I do think we'd be better off with Ron Paul as President than we will be with either of the two alternatives we have.

But something like that will never happen. Paul is too much into the truth. And the truth is not what most people in the United States want to hear.

[Chizzang]

You know, I do think we'd be better off with Ron Paul as President than we ill be with either of the two alternatives we have.

But something like that will never happen. Paul is too much into the truth. And the truth is not what most people in the United States want to hear.

Ron Paul as President
and Ralph Nader as Secretary of State

1) and we'd actually have a chance to dump a trillion dollars of Military DEAD weight in 30 days
2) Create an honest banking system - with true accountability at every level
3) and the entire country would grind to a halt and implode

[Skjellyfetti]

But something like that will never happen. Paul is too much into the truth. And the truth is not what most people in the United States want to hear.

Really? Ron Paul's problem is that he is "is too much into the truth"?

He says some batshit crazy... expandspanos type stuff.

What are your thoughts on his theory that the border fence is being built to use against US citizens attempting to flee the country after the inevitable economic collapse of the country?

I think this fence business is designed and may well be used against us and keep us in. In economic turmoil, the people want to leave with their capital. And there’s capital controls and there’s people control. So, every time you think of the fence keeping all those bad people out, think about those fences maybe being used against us, keeping us in.

Yeah, that’s their goal, they’re setting up the stage for violence in this country, no doubt about it.

[youtube]http://www.youtube.com/watch?v=GGxEgc_rDks[/youtube]

Ron Paul is "too much into truth."

[JohnStOnge]

I think it's pretty obvious that when Ron Paul was talking about fences to keep people in he wasn't talking about physical fences.

[Skjellyfetti]

I think it's pretty obvious that when Ron Paul was talking about fences to keep people in he wasn't talking about physical fences.

He's speaking on the physical fences at US border.

[Grizalltheway]

And Iceland has the pretti wimmin, like Helga Svendsensdottir and Inga Gildobiesdottir....

How dare you leave out Bjork!

[CitadelGrad]

I think it's pretty obvious that when Ron Paul was talking about fences to keep people in he wasn't talking about physical fences.

He's speaking on the physical fences at US border.

It's pretty clear he was speaking metaphorically, but you're a bit too thick to understand that. I'm more concerned about the fences around the FEMA camps that have the concertina wire overhangs facing inward.

[kalm]

I love when people take something the size of Kentucky with half the number of people of Vermont and think that will somehow correlate to a good model for anything in the US.

I love this argument.

[kalm]

Didn't Iceland also put some of the banksters and a few government officials on trial as well?

[∞∞∞]

I will vote for Paul if he runs. I don't agree with everything he says, but neither do I with any candidate, nor do I expect to. At least with him, I feel some sort of legitimate honesty.

[89Hen]

I love when people take something the size of Kentucky with half the number of people of Vermont and think that will somehow correlate to a good model for anything in the US.

I love this argument.

If I got it printed in Salon, you'd love it.

[kalm]

I love this argument.

If I got it printed in Salon, you'd love it.

Why do you hate sensible finance so much? Simplicity is a virtue.

(while stuffing more money under my mattress)