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#1 |
ONE
love, blood, life Join Date: Dec 2004
Location: Ireland
Posts: 10,122
Local Time: 11:06 PM
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Iceland - the canary in the coalmine
BBC NEWS | Europe | Iceland protest ends in clashes
__________________Take note, class. Nota bene. ![]() Watch Ireland carefully.
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#2 |
Blue Crack Addict
Join Date: May 2001
Location: nowhere..........man
Posts: 20,254
Local Time: 06:06 PM
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isn't this a lyric to a Police song...
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#3 |
Rock n' Roll Doggie
ALL ACCESS Join Date: Jul 2004
Location: In right wing paranoia
Posts: 7,601
Local Time: 04:06 PM
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I saw a news report on CBC that it was popular in Iceland for people to borrow on their home equity to go on vacations. Ouch! I wish people would understand that equity is better than debt.
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#4 |
Rock n' Roll Doggie
Band-aid Join Date: Feb 2004
Posts: 4,900
Local Time: 05:06 PM
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That was common in the US as well. The bigger problem there is that they took out loans for their cars and homes in foreign currencies, and the krona then depreciated against those currencies by a lot. So people owe a lot more on their cars and houses than they are worth in krona. Repos are increasing. There was an interesting quote that Iceland will become like Cuba - currently there are 2008 model SUVs being driven around, and in 30 years the same SUVs will be driving around.
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#5 |
Rock n' Roll Doggie
Join Date: Feb 2001
Location: all around in the dark - everywhere
Posts: 3,531
Local Time: 05:06 PM
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shouldn't they all be dead?
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#6 |
ONE
love, blood, life Join Date: Dec 2004
Location: Ireland
Posts: 10,122
Local Time: 11:06 PM
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#7 |
ONE
love, blood, life Join Date: Jun 2000
Location: canada
Posts: 13,460
Local Time: 05:06 PM
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i riot like it's 1968 in my head all the time.
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#8 |
Rock n' Roll Doggie
Join Date: Feb 2001
Location: all around in the dark - everywhere
Posts: 3,531
Local Time: 05:06 PM
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the canary...its death is the signal.
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#9 |
Rock n' Roll Doggie
VIP PASS Join Date: Jul 2005
Location: Berlin
Posts: 6,615
Local Time: 11:06 PM
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Well, the country is on life support and the question is for how long til it collapses.
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#10 | |
Rock n' Roll Doggie
Join Date: Feb 2001
Location: all around in the dark - everywhere
Posts: 3,531
Local Time: 05:06 PM
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Quote:
![]() eat a hot dog. ![]()
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#11 | |
Rock n' Roll Doggie
ALL ACCESS Join Date: Jul 2004
Location: In right wing paranoia
Posts: 7,601
Local Time: 04:06 PM
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Quote:
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#12 |
Rock n' Roll Doggie
VIP PASS Join Date: Jul 2005
Location: Berlin
Posts: 6,615
Local Time: 11:06 PM
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I was just trying to build upon that metaphor.
And this country doesn't sell Danish hot dogs! ![]() At least not where I am right now.
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#13 |
Rock n' Roll Doggie
Band-aid Join Date: Feb 2004
Posts: 4,900
Local Time: 05:06 PM
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They have no choice - there is no credit left, and not as many exports to maintain the lifestyle of the last 10 or so years. I read some stat that one third of the population is thinking of leaving the country. This brain drain will further sink the economy.
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#14 |
Rock n' Roll Doggie
ALL ACCESS Join Date: Jul 2004
Location: In right wing paranoia
Posts: 7,601
Local Time: 04:06 PM
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The recession from reports I'm seeing is expected to last 18 months. 24 months is a "technical depression". So this is a steep recession. Having trade open and stay open for 12 months will keep it from being a depression but you could easily see it going in that direction if everyone gets into trade barriers. The population in Iceland is 300,000, so it's like a small town getting huge pressure. A population that size must have little variety in industries. If it gets that bad there I don't blame anyone for moving. All you can do is the best you can. Those who still have jobs should do whatever sacrifice to their lifestyle they can to take care of the basics and pay down their debts ASAP.
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#15 |
Rock n' Roll Doggie
FOB Join Date: Dec 2001
Location: Auto Dafoe
Posts: 9,663
Local Time: 08:06 AM
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I strongly doubt that the US government will allow one third of the population to emigrate. That's where your border controls/homeland security top secret shit come in real useful. And stuff.
__________________I may have mistaken which country is under discussion here. Of course, the point stands even so. Actually I just realised I'm totally fucking off the page. Nevermind.
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