What We Can Learn From Iceland [video=youtube_share;64eI831eKY8]http://youtu.be/64eI831eKY8[/video] The success of the Iceland model... The Financial Times: Icelandic lessons in coming back from the brink In other words, a populist response to the crisis is "unorthodox". The nanny state is supposed to protect the national interest (corporations and financial institutions) from market discipline, and free markets are for the special interests (everyone else).
I totally agree and said for years now we should be going the same route as iceland did. Instead we are beholden to these special interests. Most people will never know because literally all the MSM is owned by a handful of large corporations who benefit from the status quo. I would LOVE to get a look at the majority shareholders of the big 6 banks. If forensic accounting were actually run on the 12 regional FED banks as well as the big 6 banks including wall street and it were reported all the interconnected relationships between all these entities there would be rioting in the streets.
This is confusing. The government didn't bailout and said ok banks can only hold 2% of gdp sounds very much closer to free market than usa where governmetn spendings 100% gdp and allows trillions upon trillion of bailouts!! adding 10T in obmas first 3 years alone on 25T spending??? The lesson then is to lwoer governmetn spending and bank borrowing and lower governmetn bailout!! I agree as a tea partier and anti israel objectivist!! I agree as a lover of indivudal freedom over cronyism and government corruption.
The other step that Iceland did, that we in America couldnt seem to stomach is this. They threw the bankers in jail. Instead, We gave them more money.
We gave money to the bankers, their depositors, and their investors (the people that should be holding the bankers feet to the fire). This is our entitlement mentality taken to obsurd levels.
Do you know why? Their people are not brainwashed by the media. They actually saw what was happening and it was actually reported correctly by their media and they were rioting in the streets. If the politicians had given the bankers what they wanted then the politicians would have likely not been long for this world. The bankers got out of dodge rather quickly as well. Too bad this story isn't reported here in the US. It might open up a few more eyes.
Do you know why? Their people are not brainwashed by the media. They actually saw what was happening and it was actually reported correctly by their media and they were rioting in the streets. If the politicians had given the bankers what they wanted then the politicians would have likely not been long for this world. The bankers got out of dodge rather quickly as well. Too bad this story isn't reported here in the US. It might open up a few more eyes.
governmetn si to blame, fed n fannie caising buble, then more governmetn bialouts for cure, crazy and bankers n gov cronies grabbing all loot, capitalism and less gov si answer
After the countries bank bailouts????? Icealnd was the one country that did not bail out its banks and told the IMF, the World bank, the UK, Ireland, the EU and everyone else that tried to make Iceland bail out its banks to (*)(*)(*)(*) off. The UK and Ireland bailed out their depositors in Icelandic banks and then threatened Iceland with all sorts of illegal sanctions to get Iceland to to pay them back. Iceland held two referendums on this and both times it was voted down by huge majorities. Iceland is a tiny country with a tiny population, 300,000 or so and everyone knows everyone else. When the banks all failed the women pushed the men out and took over. They were not about to pay a penny for the behavior of their idiot husbands and brothers who went from being farmers and fishermen to being investment bankers overnight as the Icelandic banks boomed due to changes in banking regulations pushed by the WTO, EU, US and IMF among others. It is really crazy that the IMF is praising Iceland when it is forcing other nations in the same predicament to do the opposite.
How come ya never hear of any Icelandic hookers gettin' arrested?... Icelandic women take up fight to ban Internet porn Tue, May 28, 2013 - RAGING ISSUE: A change in government has fueled a fight between those who want to see access to Internet porn blocked and the defenders of freedom of speech
2008 caused by gov spending and printing too much not wall st simply lower gov spending and dont let gov deficit spend or borrow or print money yes abolish fed then any spending you feel thru your smaller paycheck small governmetn spedn bigger paycheck win win also less inflation so your paycheck biggre and goes further
