Fiscal pickle: How Iceland, an insignificant nation of fairy-worshipping fish picklers, helped mess up the global money fest.
Paul Krugman writes that Iceland has just had to bail out a domestic bank for nearly a billion dollars, which on a per capita basis is a bigger bailout than the failed $700 billion mother of all bailouts. This piece by Max Keiser, a year ago, uses Iceland as a perfect example of the retarded-debt-craze-asset-bubble that has just bukkaked from a great height over the entire anglo-saxosphere and beyond.
The presenter, Max Keiser may be a nut case, a tabloid version of the higher brow economic Cassandra nut case, Nouriel Roubini. But in the land of the mad, Keiser is king, and we are currently in the land of the mad.
[Dear readers, I am very sorry if you are bored by all this financial stuff, which I assure you, I have absolutely no fucking clue about (just like people who work at investment banks, apparently). Unfortunately, I just can’t get enough of it. All those graphs and stats and doomsday scenarios and schadenfreude together – its like a disaster movie made specifically for slightly autistic, embittered beta-male, web nerds, like myself. Perhaps the economy is tanking because, like me, everyone is watching the economy tank rather than working.]
Merci Brice.