Destitute and desperate, Icelanders opt for exile

[werepossum]

Actually that is not a bad idea. Look at what a hell hole Palestine was and how productive the Israelis made it.

Why don't we buy off the Icelandic debt, move all of the Icelandic people to the Middle East as Israel's new neighbors (New Iceland?) and move all of the Palestinians to Iceland (New Palestine)???

Both problems solved and it will be a lot cheaper than a new Mid-East war!

:awe:

Just start the rumor that Muhammad discovered Iceland whilst traveling in a dream and now those silly Icelanders won't allow Muslims in. That should do it. If not, point out to the women that Iceland has lovely bag weather (burgas can be hot and sticky) and point out to the men that there are lots and lots of rocks just right for throwing.

 

[Fern]

Why are interest rates jumping because of Obamanomics? The interests rates have been kept fairly low by the Fed. Now that the Fed is backing off the interest rates are going to go up, not because of some mysterious Obamanomics.

You're talking about rates controlled by the Fed - interest they charge banks and whatnot.

I believe he is talking about the interest our government has to pay when it sell Treasuries to raise more money for the government to contimue deficit spending.

2 different things.

The latter is of concern because the amount of our federal revenues that goes to service debt is already very high. If the federal government has to pay higher rates of interest on the Treasuries it auctions it'll just get worse.

Fern

 

[WhipperSnapper]

So is it a good time to find a hot Icelandic blonde wife?

I hear that Icelandic women are frigid. (It's a cold place, you know.)

 

[blackangst1]

Well, at least Icelanders have UHC.

 

[PJABBER]

I hear that Icelandic women are frigid. (It's a cold place, you know.)

Not true. They have high standards. You know, like every woman you know.

:awe:

 

[Darwin333]

You're talking about rates controlled by the Fed - interest they charge banks and whatnot.

I believe he is talking about the interest our government has to pay when it sell Treasuries to raise more money for the government to contimue deficit spending.

2 different things.

The latter is of concern because the amount of our federal revenues that goes to service debt is already very high. If the federal government has to pay higher rates of interest on the Treasuries it auctions it'll just get worse.

Fern

Its actually much much worse than that. Almost ALL of our external debt is short term because of the drastically cheaper rates. We have to roll almost all of that debt, on average, every 4 years. That is one of the reasons our interest payments have been going way down even though our actual debt has been going way up. It makes the budget look a lot better.

The problem with that play is any upward movement in interest rates will showup damn near immediately in our budget to the tune of 100's of billions of dollars. Keep in mind this is nothing but interest payments so that is basically 100's of billions of additional dollars that we must pay, something like half of which goes out of the country. How long does anyone expect interest rates to stay at historical lows?

Bottom line: Our debt is basically an interest only adjustable rate mortgage and even if we are able to quickly move it to the long end of the curve (which I seriously doubt) it will definitely not be at favorable rates considering we would have to basically sell trillionS in long term bonds in a very short period of time to do any good. In a short period of time we are going to be in for a serious rude awakening when it comes to the cost of servicing our debt. A raise of only 2% costs us an additional $300 billion a year in interest payments and thats before we add on a trillion a year in new debt and since we don't have an extra $300B a year, we have to borrow that too.

 

[Hacp]

I still like my original plan. Take over Iceland; use the males for labor and the females for mating.

 

[0roo0roo]

http://www.guardian.co.uk/lifeandstyle/2010/mar/25/iceland-most-feminist-country
banning strip clubs..
they can suck on their debt for all i care.

 

[IronWing]

I still like my original plan. Take over Iceland; use the males for labor and the females for mating.

Not too wise. Icelandic women have a reputation to uphold...

8. To the bottom she reachedwith hand so bright,And forth she broughtthe flashing stones:"Behold, ye warriors,well am I clearedOf sin by the kettle'ssacred boiling."

9. Then Atli's heartin happiness laughed,When Guthrun's handunhurt he saw;"Now Herkja shall comethe kettle to try,She who grieffor Guthrun planned."

10. Ne'er saw man sightmore sad than this,How burned were the handsof Herkja then;In a bog so foulthe maid they flung,And so was Guthrun'sgrief requited.[4]