How Iceland recovered so quickly

29 Nov 2012 17:29 #2 by FredHayek
I was just there in September and don't agree. 500 kroner was worth about $3.50. Prices were very high especially on imported goods. The one very cool thing was that they cheaply heated their homes with geothermal energy. And the country was beautiful.

Thomas Sowell: There are no solutions, just trade-offs.

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29 Nov 2012 18:22 #3 by LOL
Didn't Iceland go bankrupt and stiff all the foreign creditors from Europe? And tank their own currency. It can work if you are a small country, and not the world's reserve currency. Here all the pension funds holding US bonds would get wiped out along with IRAa and 401ks. It still could happen, stay tuned. You may get what you wish for!

If you want to be, press one. If you want not to be, press 2

Republicans are red, democrats are blue, neither of them, gives a flip about you.

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29 Nov 2012 18:25 #4 by Rick
That trilion dollar swindalus given to banks, GM, unions would have been better spent giving 200 million people $5k each and the economy who have actually come back faster imo.

The left is angry because they are now being judged by the content of their character and not by the color of their skin.

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