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The US should takes notes on how Iceland beat the problem
we are facing today. The whole scheme foisted on America
was developed there and then used here.
The US should takes notes on how Iceland beat the problem
we are facing today. The whole scheme foisted on America
was developed there and then used here.
The US should takes notes on how Iceland beat the problem
we are facing today. The whole scheme foisted on America
was developed there and then used here.
Dude, Carolanne is about as dumb as they come. Iceland, with a population of around 318,000, is a constitutional republic with a parliamentary government. The main components of Iceland’s GDP (USD 12.6 billion in 2010) are fishing and fish processing, industry, tourism, commerce and transport.
Iceland's population is a whopping 318,000 people. I see that many people just riding the damn bus up to the VA hospital.
Yes, population really does matter.....a lot.
And seriously, Columbus Ohio as a GDP of 95 Billion that's 8x greater than Iceland.
I would like for you to take a look at something...just read the link titles.....
Now.......what does the government of Iceland say in reality?
http://www.mfa.is/media/MFA_pdf/Icel...nuary-2012.pdf
"Emergency legislation was passed by the Icelandic parliament on 6 October 2008 in order to secure the continuation of domestic banking services and payment systems abroad after the collapse of the banks.
A revised strategy for lifting of the capital controls introduced in late 2008 was announced in March 2011. The strategy aims at gradual lifting of the controls without threatening economic and financial stability.
Due to the devaluation of the króna, Icelandic households and companies have experienced a great increase in their debt through the widespread inflation indexing of mortgages and use of loans in foreign currencies."
Funny, but the government did use austerity measures, yet everyone is claiming they did not.
www.reuters.com/article/.../us-iceland-idUSBRE85B12O20120612
Jun 12, 2012 – Nevertheless, Sigurdardottir told Reuters that Iceland's mix of measured austerity and unorthodox policies -
Those policies might work for Iceland, but no other country, and certainly not the US.
this was a great article. the people responsible for our problems were let off very easy. part of our disease is that we no fault everything, i mean everything.
Iceland could disappear and it wont affect the world economy. How can anything it do be a lesson? The fears about the US situation in 2008 werent so much about what would happen if one bank didnt pay, it was about what would happen to those who survive and could they pay without the other living up to its obligations. So if the US defaulted it would get no benefit because all its trading partners would crash down beside it making things far worse.
Those policies might work for Iceland, but no other country, and certainly not the US.
Monetarily...
Mircea
Excellent points and Iceland is definitely a microcosm of the US economy which gives it much more
latitude to experiment. What the US continues do is the ponzi monetary scheme. Few realize though,
that everytime the debt limit is raised, the value of the dollar declines. The US gets away with it because they can
keep "CHECK KITING" w/o impunity as long as they keep printing dollars. Once other countries change to
another currency the gig will be up and the bottom will fall out. The faster we spend the quicker the end.
People talk about dumping on our grandchildren, more like dumping on our great grandchildren & great-great
grandchildren............
Kinda like the US today and still heading downward.....
I think that americans have lost less standard of living than icelanders
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