What happened to Iceland?

Iceland let their banks default.  Every other country on both sides of the Atlantic bailed their banks out.  The people are on the hook for trillions of dollars on both sides of the Atlantic and their economies are still in the dumps. Iceland on the other hand is on the way to recovery and the tax payers do not owe anything.  This makes perfect sense from the Austrian perspective.  Markets need to clear out and reach a bottom before a recovery can happen.  Massive bailouts prevent this.  Bailouts “keep the boom going”.  Not only have the bailouts in the U.S. and Europe not helped the man in the street, they have guaranteed a much larger crash in the future.  The U.S. and Europe are still kicking the can down the road while Iceland is on its way to recovery.

During the next financial crisis, Americans need to look toward Iceland and take note of what they did. In the interview posted below, the Prime-minister of Iceland explains why he did not bailout the banks and instead left it up to the people in a popular vote.  This is the exact opposite of what American politicians did in 2008.  When American politicians were receiving phone calls that were 10 to 1 against bailing out the banks, the American congressman sided with the big Wall Street banks instead.  It turns out that Icelandic politicians have backbones and will stand up against the financial interests in their country in order to protect the people.  American politicians instead stand up for the corrupt government/Wall Street alliance at the great expense of the American people.

Here is the interview.  The relevant info starts at about 9 minutes.

 

442 thoughts on “What happened to Iceland?

  1. Great blog! Is your theme custom made or did you download it from somewhere? A theme like yours with a few simple tweeks would really make my blog stand out. Please let me know where you got your design. Appreciate it

  2. Thanks for the marvelous posting! I certainly enjoyed reading it, you may be
    a great author. I will make sure to bookmark your
    blog and will often come back someday. I want to encourage that you continue your great job, have a nice afternoon!

  3. I don’t even understand how I stopped up right here, however I thought
    this submit used to be good. I don’t recognize who you are but
    certainly you are going to a famous blogger if you aren’t already.
    Cheers!

  4. Terrific paintings! This is the type of info that should be shared across the web. Shame on the seek engines for not positioning this submit upper! Come on over and talk over with my website . Thanks =)

  5. Thanks for sharing excellent informations. Your site is so cool. I am impressed by the details that you¦ve on this website. It reveals how nicely you perceive this subject. Bookmarked this web page, will come back for extra articles. You, my friend, ROCK! I found just the information I already searched all over the place and just could not come across. What a perfect site.

  6. Hi there! I know this is kinda off topic however I’d figured I’d ask. Would you be interested in exchanging links or maybe guest writing a blog article or vice-versa? My site addresses a lot of the same subjects as yours and I feel we could greatly benefit from each other. If you might be interested feel free to send me an e-mail. I look forward to hearing from you! Excellent blog by the way!

  7. What Is ZenCortex? ZenCortex is a natural supplement that promotes healthy hearing and mental tranquility. It’s crafted from premium-quality natural ingredients, each selected for its ability to combat oxidative stress and enhance the function of your auditory system and overall well-being.

  8. Hello! I could have sworn I’ve been to this blog before but after browsing through some of the post I realized it’s new to me. Anyways, I’m definitely happy I found it and I’ll be book-marking and checking back frequently!

  9. I’m impressed, I must say. Rarely do I encounter a blog that’s equally educative and engaging, and let me tell you, you have hit the nail on the head. The issue is something not enough people are speaking intelligently about. I’m very happy that I found this in my search for something concerning this.

  10. You really make it appear so easy along with your presentation however I find this topic to be actually one thing that I feel I would by no means understand. It kind of feels too complex and very broad for me. I’m having a look ahead to your subsequent post, I will try to get the hold of it!

  11. Thank you for sharing excellent informations. Your website is so cool. I am impressed by the details that you have on this site. It reveals how nicely you understand this subject. Bookmarked this website page, will come back for more articles. You, my friend, ROCK! I found simply the information I already searched everywhere and simply could not come across. What a great web site.

  12. Hi would you mind letting me know which webhost you’re using? I’ve loaded your blog in 3 different browsers and I must say this blog loads a lot faster then most. Can you suggest a good hosting provider at a fair price? Thanks, I appreciate it!

  13. Thanks for any other wonderful post. The place else may anybody get that kind of info in such a perfect approach of writing? I’ve a presentation subsequent week, and I am on the look for such information.

Leave a Reply

Your email address will not be published. Required fields are marked *