The Pseudo Iceland Economic Miracle

Since a year (or two), everybody speaks about how Iceland did a wonderful job in the crisis, like how they threw away their government and let the banks go bankrupt. And put to trial the "bad guys", including the bank owners and the politicians... Plus they helped their people get away with their debt problems.

At least that's what is being reported in the news everywhere (at least in Europe).

Now for some harsh truth:

http://studiotendra.com/2012/12/29/what-is-actually-going-on-in-iceland/

This is an Icelandic guy explaining rather plainly (he's angry too lol) what the situation really is right now...

I don't see why anyone would extrapolate any "lesson" from Iceland to apply to anywhere else in the world: it's a collection of only 319,000 "genetically distinct" (read: inbred) Viking descendants living on a nearly treeless volcanic rock in the middle of frozen nowhere.

(actually I really love Iceland the country and Islanders but seriously)

Who is the mayor of Iceland A PENGUIN!???

informative article (i think?), thanks. hadn't heard about iceland being touted as an anti-bank success story, pretty weird that that is circulating if this article is anywhere close to the truth..

  On 1/5/2013 at 3:52 AM, lumpenprol said:

I don't see why anyone would extrapolate any "lesson" from Iceland to apply to anywhere else in the world: it's a collection of only 319,000 "genetically distinct" (read: inbred) Viking descendants living on a nearly treeless volcanic rock in the middle of frozen nowhere.

 

(actually I really love Iceland the country and Islanders but seriously)

Maybe this is mainly an old euro-centric thing, but a year ago every "liberal" media was reporting how Iceland did everything that the EuroZone didn't do (read no austerity and no bail out). And how it was the perfect exemple for the like of the occupy movement to point at...
In the end, Iceland isn't the liberal dream it is portrayed to be in some news media who would like to simplify the euro crisis down to the result of some of the countries (even if Iceland isn't in the EuroZone)

Where is Compson when you need him? lol

I thought there was only about 5 people in Iceland?

  On 1/5/2013 at 3:56 AM, YO303 said:

Who is the mayor of Iceland A PENGUIN!???

of course not man

what the fuck are you talking about?

i was about to say.....throwing out the IMF? LOL

  dr lopez said:

  lumpenprol said:

I don't see why anyone would extrapolate any "lesson" from Iceland to apply to anywhere else in the world: it's a collection of only 319,000 "genetically distinct" (read: inbred) Viking descendants living on a nearly treeless volcanic rock in the middle of frozen nowhere.

 

(actually I really love Iceland the country and Islanders but seriously)

I also believe their currency is pegged to Björk. The exact moment the Icelandic banks collapsed:

http://edition.cnn.com/2013/01/04/travel/iceland-disruptive-passenger/index.html?eref=rss_mostpopular&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_mostpopular+%28RSS%3A+Most+Popular%29

lol

  On 1/5/2013 at 6:39 PM, Squee said:

http://edition.cnn.com/2013/01/04/travel/iceland-disruptive-passenger/index.html?eref=rss_mostpopular&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_mostpopular+%28RSS%3A+Most+Popular%29

 

lol

Kind of sounds like drunk tourette's.

  On 1/5/2013 at 8:29 PM, Braintree said:

  On 1/5/2013 at 6:39 PM, Squee said:

http://edition.cnn.com/2013/01/04/travel/iceland-disruptive-passenger/index.html?eref=rss_mostpopular&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_mostpopular+%28RSS%3A+Most+Popular%29

 

lol

 

Kind of sounds like drunk tourette's.

i can't help but feel like that is disgusting....couldn't they find some less ridiculous way to sedate him?

Yeah, Iceland fucked up big time by discarding the wonderful Nordic model of its neighbors. Got swept up in the Reagan-Thatcher fantasy. Once that happens, it seems it's hard to get things back to normal.

  Quote

murder/suicide

  On 1/5/2013 at 1:29 PM, spratters said:

I thought there was only about 5 people in Iceland?

..4 of which are in Sigur Ros.

... the other is Bjork

well no wonder their economy is in shambles, the entire population is only there seasonally.

  On 1/5/2013 at 5:26 PM, joshuatx said:

  dr lopez said:

  lumpenprol said:

I don't see why anyone would extrapolate any "lesson" from Iceland to apply to anywhere else in the world: it's a collection of only 319,000 "genetically distinct" (read: inbred) Viking descendants living on a nearly treeless volcanic rock in the middle of frozen nowhere.

 

(actually I really love Iceland the country and Islanders but seriously)

 

I also believe their currency is pegged to Björk. The exact moment the Icelandic banks collapsed:

either pegged to bjork...or to EVE online. They should just substitute the EVE online economy for the Iceland economy. Incidentally I know some of the (Icelandic) folks involved in EVE online, and they do actually employ several trained economists as part of their team. So it may not be that far-fetched a solution...