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Thu Nov 29, 2012, 09:42 PM

Meanwhile, in Iceland

29 replies, 3139 views

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Arrow 29 replies Author Time Post
Reply Meanwhile, in Iceland (Original post)
Pryderi Nov 2012 OP
chowder66 Nov 2012 #1
abelenkpe Nov 2012 #2
burrowowl Nov 2012 #3
sonias Nov 2012 #4
hack89 Nov 2012 #5
jtuck004 Nov 2012 #8
Beartracks Nov 2012 #9
jtuck004 Nov 2012 #12
SunSeeker Nov 2012 #11
tama Nov 2012 #27
Tuesday Afternoon Nov 2012 #6
haydukelives Nov 2012 #7
SunSeeker Nov 2012 #10
2naSalit Nov 2012 #13
SunSeeker Nov 2012 #16
Dark n Stormy Knight Dec 2012 #29
liberal_at_heart Nov 2012 #14
muriel_volestrangler Nov 2012 #15
2naSalit Nov 2012 #17
muriel_volestrangler Nov 2012 #18
2naSalit Nov 2012 #19
woo me with science Nov 2012 #22
LineLineLineLineLineNew Reply ?
muriel_volestrangler Nov 2012 #23
woo me with science Nov 2012 #24
muriel_volestrangler Nov 2012 #25
woo me with science Nov 2012 #26
felix_numinous Nov 2012 #20
woo me with science Nov 2012 #21
Quantess Dec 2012 #28

Response to Pryderi (Original post)

Thu Nov 29, 2012, 09:45 PM

1. Logic. It does a body good. n/t

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Response to Pryderi (Original post)

Thu Nov 29, 2012, 10:03 PM

2. K&R nt

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Response to Pryderi (Original post)

Thu Nov 29, 2012, 10:47 PM

3. K&R!!!!!

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Response to Pryderi (Original post)

Thu Nov 29, 2012, 10:49 PM

4. They did it right

Imprisoned the bank fraudsters - that part was my favorite part of the deal.

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Response to Pryderi (Original post)

Thu Nov 29, 2012, 10:51 PM

5. They borrowed 4.6 billion dollars from the IMF

and implemented severe austerity measures.

I am not sure that jailing two or three bankers makes that all worthwhile.

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Response to hack89 (Reply #5)

Thu Nov 29, 2012, 11:39 PM

8. You are correct but leave out key details, implying a similarity where there is none.

We do austerity by sending $40 billion a month to greedy bastards so their mortgage-backed assets won't go down, give them 0 interest loans so they can make a vigorish by loaning it out, with higher rates to the more vulnerable. We cut social programs and public spending, fire teachers and cops and firefighters, watch consumer credit and student loans increase and begin higher defaults, along with the people in poverty, the number on food stamps, and a continuing historically high group of long-term and discouraged in addition to those normally considered as unemployed. All to keep a floor under the greedy bastards because the benefits should "trickle down".

They said screw that and let their currency devalue. Now imports cost more, which supports job creation in their own country. (greedy bastards can still make some money, just not as able to saddle mom and pop with the loss, and mom and pop stand a decent chance to make some as well). That devaluation hurt the banks and greedy bastards far more than it did Joe Icelander, who still goes to work every day, though his wife complains that the shelves at Walmart-Iceland are bare lately. And although overall public spending went down, they are increasingly educating MORE people at a higher level, and their medical care is public with severe constraints on the kind of private health insurance companies run by the dirty, filthy, greedy bastards we have handed our health care over to. And instead of a public plan we still have tens of millions with no care other than an ER, something that is not addressed by the awful sop to the insurance industry that is the ACA.

But yeah, other than that there is no difference.

(Upon re-reading this, I should have used a different term than "historically high" to describe the unemployed. So please substitute "historically large in number".

Thank you).

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Response to jtuck004 (Reply #8)

Fri Nov 30, 2012, 12:16 AM

9. And insert "public" where it says "pubic."

Heh, sorry, couldn't help myself. It's a job hazard.

===============

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Response to Beartracks (Reply #9)

Fri Nov 30, 2012, 01:56 AM

12. No, I appreciate it. Thank you. n/t


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Response to hack89 (Reply #5)

Fri Nov 30, 2012, 12:25 AM

11. Considering they only had 3 main banks, that's a lot of banksters in jail.

This same topic is more thoroughly discussed here:
http://www.democraticunderground.com/10021902155

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Response to hack89 (Reply #5)

Fri Nov 30, 2012, 08:35 PM

27. And some money from fellow Nordic countries

 

which were glad to help a close friend in trouble, and threatened to borrow from Russia as they were being fucked over by their NATO allies and declared a terrorist state by UK - which they are not forgiving for a long time.

And they are paying of the IMF money well ahead of time table. Because as island people they value their freedom and independence.

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Response to Pryderi (Original post)

Thu Nov 29, 2012, 10:56 PM

6. Fucking A.

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Response to Pryderi (Original post)

Thu Nov 29, 2012, 10:59 PM

7. Yep

K&R

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Response to Pryderi (Original post)

Fri Nov 30, 2012, 12:20 AM

10. Sigh. I guess that's what happens when you have a government of the people...

by the people, for the people. Sounds like a great idea. Wish we had thought of it.

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Response to SunSeeker (Reply #10)

Fri Nov 30, 2012, 02:10 AM

13. Actually, many of us did

but who are we to tell our representative government to listen to us?

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Response to 2naSalit (Reply #13)

Fri Nov 30, 2012, 08:47 AM

16. Yes, I don't know what Lincoln was thinking when he coined that phrase.

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Response to SunSeeker (Reply #10)

Wed Dec 5, 2012, 08:52 PM

29. LOL, in a "that's not really funny but I can't help laughing" kind of way.

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Response to Pryderi (Original post)

Fri Nov 30, 2012, 02:48 AM

14. that's what happens when you're not held hostage by oligarchs

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Response to Pryderi (Original post)

Fri Nov 30, 2012, 07:00 AM

15. USA's GDP is higher than 2008; Iceland's is still lower

Iceland: http://www.economywatch.com/economic-statistics/Iceland/GDP_Constant_Prices_National_Currency/ (in national currency; if measured in dollars, it would look worse, since the currency devalued)

2012 896.477
2011 871.612
2010 851.615
2009 882.257
2008 947.61

USA: http://www.economywatch.com/economic-statistics/United-States/GDP_Constant_Prices_National_Currency/
2012 14,001.89
2011 13,610.94
2010 13,245.58
2009 12,880.60
2008 13,228.85

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Response to muriel_volestrangler (Reply #15)

Fri Nov 30, 2012, 12:57 PM

17. And how's the quality of life

things going? Somehow I find it troubling that so many equate "quality of life" with monetary stockpiling. There may be more money made in this country but money isn't the main factor in having a worthwhile quality of life. I don't equate monetary mass with most of the things I value in life as money has little to do with those things with one exception, that being money can destroy those valued things rather than acquire and maintain them.

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Response to 2naSalit (Reply #17)

Fri Nov 30, 2012, 04:27 PM

18. A good point, but the OP is about recessions

not quality of life.

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Response to muriel_volestrangler (Reply #18)

Fri Nov 30, 2012, 04:35 PM

19. It would seem to many

that recessions and quality of life are topics that are relative to one another.

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Response to muriel_volestrangler (Reply #18)

Fri Nov 30, 2012, 05:11 PM

22. Good grief. nt

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Response to woo me with science (Reply #22)

Fri Nov 30, 2012, 06:13 PM

23. ?

What is surprising to you?

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Response to muriel_volestrangler (Reply #23)

Fri Nov 30, 2012, 06:31 PM

24. That anyone would even *attempt* to argue that quality of life

is not relevant to this discussion, or that it can be isolated from it. It is at the very heart of why we are having it.

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Response to woo me with science (Reply #24)

Fri Nov 30, 2012, 07:00 PM

25. It seems strange to direct it to the 15th reply, then, rather than to the OP

The OP was what first ignored the issue of the quality of life, not my post. And yet, you 'hear, hear'd the OP, while giving my post a 'good grief'.

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Response to muriel_volestrangler (Reply #25)

Fri Nov 30, 2012, 07:04 PM

26. Oh for pete's sake. nt

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Response to Pryderi (Original post)

Fri Nov 30, 2012, 04:46 PM

20. America is falling far behind

the rest of the world, because the corporate/banksters invest heavily in keeping us distracted, addicted, ignorant--and intimidated into not taking them on.

If We the People would totally unite against the 1%--and refuse their propaganda and hatemongering--we could take them on here too. Divide and conquer works.

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Response to Pryderi (Original post)

Fri Nov 30, 2012, 05:09 PM

21. Hear, hear! nt

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Response to Pryderi (Original post)

Sat Dec 1, 2012, 05:33 AM

28. K & R

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