Pretty much bankrupted Iceland if I recall. Dubya managed to take down the whole world
economy with his house of cards.
BlueBee, me thinks that you need to drop another dime on the reasons that Iceland went keel up.
As always the theroies you post don't hold water. Here is a little something that Blumburg Magazine published on the subject. http://www.businessweek.com/the_thread/economicsunbound/archives/2008/10/iceland_goes_ba.html
Iceland goes bankrupt
Posted by: Michael Mandel on October 10:
That’s an amazing sentence: Iceland goes bankrupt. But that’s exactly what happened yesterday (see BW piece here. See NY Times piece here). That’s a clear sign that the global financial crisis is entering a new and vastly more dangerous phase, where we are paying the price of the lack of a global financial regulator and global central bank.
What ‘bankrupt’ means is just that: The country cannot pay back its external debts, and the Icelandic currency, the krona, has become essentially valueless in the rest of the world. That means the country can no longer pay for imports.
The Icelandic problems have nothing to do directly with American real estate
. As Kerry Capell of BW writes:
I took the liberty to highligh the most important part in RED, just so that you could both see and understand it. :-D :-D
On this side of the pond our Queen of Hearts, President Obama is engrossed by "his own self-styled Tea Party" that threatens to consume both you and I while destroying him. In place of acting like a real President Obama is shouting “Off with his head” while running around in the leavers of power control room, pulling leavers at random, turning valves, and flipping switches just to see what results his actions will bring. Is that anyway to run a railroad? While a blind man can surely keep a locomotive out of the ditch, it takes a person with vision to tell the blind man what signals are displayed on the track and what they mean. Otherwise the whole nation is headed for a train wreck of epic proportions with Obama's hand on the trottle like a modern day Casey Jones.