LOL @Iceland

[waffleironhead]

My relatives got killed on this issue.

They had all of their auto loans based on foreign currency. So when the Krona value declined they are now paying around twice as much for the vehicles they purchased.

 

[CPA]

Originally posted by: sutahz
I have a hard drive to sell for $10,000,000.00, any takers?

oooh, I need some new assets. I'll sell you a 256mb stick of ram for the same price.

 

[BladeVenom]

Originally posted by: RedSquirrel
I never realized people actually lived there. I thought it was just a giant ice/snow land.

That's Greenland. Iceland is the nice one.

 

[Mo0o]

Originally posted by: BladeVenom

Originally posted by: RedSquirrel
I never realized people actually lived there. I thought it was just a giant ice/snow land.

That's Greenland. Iceland is the nice one.

That's what I learned from Mighty Ducks

 

[TehMac]

Originally posted by: techs
What is really funny is Iceland decided to follow Reaganomics since the late 1980's. In fact many of the Reagan administration economic advisors went to Iceland to set up a pure version of laissez-faire capitalism.

How's that working out for you, Iceland?

Sounds like leftist baloney.

Not surprising coming from you, but for the sake of the intellectualism you lack, I'm curious about this subject. Got any real links handy?

 

[SonicIce]

lol iceland is green and greenland is ice. just wanna keep that clear

 

[xanis]

Originally posted by: SonicIce
lol iceland is green and greenland is ice. just wanna keep that clear

thanks for the update :thumbsup:

 

[CanOWorms]

Originally posted by: zinfamous

Originally posted by: magnux
Guess my wife and I are going to live like royalty on our trip.. sweet. But, what I really want to know is.. can I buy Björk yet?

I don't know man, last I checked (over the summer), it's ridiculously expensive to travel there. Don't imagine that prices will be cheap...

You could get a flight from Boston to Iceland for like $400 a few weeks ago. Their currency has fallen so much that things there are quite affordable.

 

[13Gigatons]

Originally posted by: ElFenix

Originally posted by: 13Gigatons
Don't gloat, America is heading in that direction with a 350% GDP to debt ratio we will soon catch Iceland's 850%.

mathfail

Iceland instantly became the only nation on earth that Americans could point to and say, ?Well, at least we didn?t do that.? In the end, Icelanders amassed debts amounting to 850 percent of their G.D.P. (The debt-drowned United States has reached just 350 percent.)

Does that clear it up for you?

 

[techs]

Originally posted by: TehMac

Originally posted by: techs
What is really funny is Iceland decided to follow Reaganomics since the late 1980's. In fact many of the Reagan administration economic advisors went to Iceland to set up a pure version of laissez-faire capitalism.

How's that working out for you, Iceland?

Sounds like leftist baloney.

Not surprising coming from you, but for the sake of the intellectualism you lack, I'm curious about this subject. Got any real links handy?

http://courses.wcupa.edu/rbove...land/040129prosper.htm
http://www.jbs.org/index.php/j...rket-reforms-a-success
And about a hundred thousand more, including wiki.


Here's the tv ad that was shown based on Milton Friedmans work that started the grass roots movement that eventually led to a Reagan like economic system that led to Icelands collapse.
http://video.google.com/videop...urceid=docidfeed&hl=en

btw its funny to read how only about a year ago the right wing free marketers were still trumpeting Iceland as the vindication of Reaganomics.

Friedman had other overseas successes, big and small. Wikipedia credits him with influencing the Independence Party of Iceland, ?including Davíd Oddsson, who became Prime Minister in 1991 and began a radical program of monetary and fiscal stabilization, ambitious privatization, reduction of taxes (e.g. the corporate income tax from 50% to 18%), the definition of exclusive use rights in the fisheries, abolition of various government funds for aiding loss-making enterprises and liberalization of currency transfers and capital markets.?

Geez, TehMac try reading a book instead of right wing blogs.

 

[Riverhound777]

Wonder is there has been much effect on Eve-Online.

 

[techs]

Originally posted by: techs

Originally posted by: TehMac

Originally posted by: techs
What is really funny is Iceland decided to follow Reaganomics since the late 1980's. In fact many of the Reagan administration economic advisors went to Iceland to set up a pure version of laissez-faire capitalism.

How's that working out for you, Iceland?

Sounds like leftist baloney.

Not surprising coming from you, but for the sake of the intellectualism you lack, I'm curious about this subject. Got any real links handy?

http://courses.wcupa.edu/rbove...land/040129prosper.htm
http://www.jbs.org/index.php/j...rket-reforms-a-success
And about a hundred thousand more, including wiki.


Here's the tv ad that was shown based on Milton Friedmans work that started the grass roots movement that eventually led to a Reagan like economic system that led to Icelands collapse.
http://video.google.com/videop...urceid=docidfeed&hl=en

btw its funny to read how only about a year ago the right wing free marketers were still trumpeting Iceland as the vindication of Reaganomics.

Friedman had other overseas successes, big and small. Wikipedia credits him with influencing the Independence Party of Iceland, ?including Davíd Oddsson, who became Prime Minister in 1991 and began a radical program of monetary and fiscal stabilization, ambitious privatization, reduction of taxes (e.g. the corporate income tax from 50% to 18%), the definition of exclusive use rights in the fisheries, abolition of various government funds for aiding loss-making enterprises and liberalization of currency transfers and capital markets.?

Geez, TehMac try reading a book instead of right wing blogs.

Notice how the brainwashed laissez-faire economists always run away when presented with the truth?
I have never seen anyone come back into an "Iceland is screwed" thread when they find out it is because of Icelands adoption of Reagans economic policies that screwed them and not what they believed, which is European style regulated economy.
Game, set and match.

 

[ElFenix]

Originally posted by: 13Gigatons

Originally posted by: ElFenix

Originally posted by: 13Gigatons
Don't gloat, America is heading in that direction with a 350% GDP to debt ratio we will soon catch Iceland's 850%.

mathfail

Iceland instantly became the only nation on earth that Americans could point to and say, ?Well, at least we didn?t do that.? In the end, Icelanders amassed debts amounting to 850 percent of their G.D.P. (The debt-drowned United States has reached just 350 percent.)

Does that clear it up for you?

oh i know what you meant, don't get mad at me that you got your numerator and denominator backwards.

Originally posted by: techs
Notice how the brainwashed laissez-faire economists always run away when presented with the truth?
I have never seen anyone come back into an "Iceland is screwed" thread when they find out it is because of Icelands adoption of Reagans economic policies that screwed them and not what they believed, which is European style regulated economy.
Game, set and match.

i missed where fraud was legalized

 

[sdifox]

so, should we all pool our resources and buy Iceland and rename it ATOT?

 

[FuzzyDunlop]

Originally posted by: sdifox
so, should we all pool our resources and buy Iceland and rename it ATOT?

im in!

 

[techs]

Originally posted by: ElFenix

Originally posted by: 13Gigatons

Originally posted by: ElFenix

Originally posted by: 13Gigatons
Don't gloat, America is heading in that direction with a 350% GDP to debt ratio we will soon catch Iceland's 850%.

mathfail

Iceland instantly became the only nation on earth that Americans could point to and say, ?Well, at least we didn?t do that.? In the end, Icelanders amassed debts amounting to 850 percent of their G.D.P. (The debt-drowned United States has reached just 350 percent.)

Does that clear it up for you?

oh i know what you meant, don't get mad at me that you got your numerator and denominator backwards.

Originally posted by: techs
Notice how the brainwashed laissez-faire economists always run away when presented with the truth?
I have never seen anyone come back into an "Iceland is screwed" thread when they find out it is because of Icelands adoption of Reagans economic policies that screwed them and not what they believed, which is European style regulated economy.
Game, set and match.

i missed where fraud was legalized

De-regulation of markets has ALWAYS led to fraud.
See Savings and loan debacle, see Arthur Anderson, see Enron, see sub-pirme mortgages, etc, etc, etc.

 

[eleison]

Originally posted by: techs

Originally posted by: ElFenix

Originally posted by: 13Gigatons

Originally posted by: ElFenix

Originally posted by: 13Gigatons
Don't gloat, America is heading in that direction with a 350% GDP to debt ratio we will soon catch Iceland's 850%.

mathfail

Iceland instantly became the only nation on earth that Americans could point to and say, ?Well, at least we didn?t do that.? In the end, Icelanders amassed debts amounting to 850 percent of their G.D.P. (The debt-drowned United States has reached just 350 percent.)

Does that clear it up for you?

oh i know what you meant, don't get mad at me that you got your numerator and denominator backwards.

Originally posted by: techs
Notice how the brainwashed laissez-faire economists always run away when presented with the truth?
I have never seen anyone come back into an "Iceland is screwed" thread when they find out it is because of Icelands adoption of Reagans economic policies that screwed them and not what they believed, which is European style regulated economy.
Game, set and match.

i missed where fraud was legalized

De-regulation of markets has ALWAYS led to fraud.
See Savings and loan debacle, see Arthur Anderson, see Enron, see sub-pirme mortgages, etc, etc, etc.

Wasn't the subprime mess caused by governments enticing banks to loan to risky people? After all, if the banks failed, it was under the assumption that the government would bail them out.

 

[techs]

Originally posted by: eleison

Originally posted by: techs

Originally posted by: ElFenix

Originally posted by: 13Gigatons

Originally posted by: ElFenix

Originally posted by: 13Gigatons
Don't gloat, America is heading in that direction with a 350% GDP to debt ratio we will soon catch Iceland's 850%.

mathfail

Iceland instantly became the only nation on earth that Americans could point to and say, ?Well, at least we didn?t do that.? In the end, Icelanders amassed debts amounting to 850 percent of their G.D.P. (The debt-drowned United States has reached just 350 percent.)

Does that clear it up for you?

oh i know what you meant, don't get mad at me that you got your numerator and denominator backwards.

Originally posted by: techs
Notice how the brainwashed laissez-faire economists always run away when presented with the truth?
I have never seen anyone come back into an "Iceland is screwed" thread when they find out it is because of Icelands adoption of Reagans economic policies that screwed them and not what they believed, which is European style regulated economy.
Game, set and match.

i missed where fraud was legalized

De-regulation of markets has ALWAYS led to fraud.
See Savings and loan debacle, see Arthur Anderson, see Enron, see sub-pirme mortgages, etc, etc, etc.

Wasn't the subprime mess caused by governments enticing banks to loan to risky people? After all, if the banks failed, it was under the assumption that the government would bail them out.

Wow. WRONG. It was because de-regulation let savings and loans go into commercial markets they were previously banned from. Once one or two banks made risky loans but showed huge profits other savings and loans were forced to follow or else their stocks would collapse.
If you even stop to think about it, are you really saying Reagan and the Republican forced savings and loans to make risky loans? And btw they weren't loans to risky people, they were loans to risky businesses. The savings and loan debacle was not housing related.
Amazing the amount of wrong info out there.

 

[13Gigatons]

Originally posted by: eleison

Originally posted by: techs

Originally posted by: ElFenix

Originally posted by: 13Gigatons

Originally posted by: ElFenix

Originally posted by: 13Gigatons
Don't gloat, America is heading in that direction with a 350% GDP to debt ratio we will soon catch Iceland's 850%.

mathfail

Iceland instantly became the only nation on earth that Americans could point to and say, ?Well, at least we didn?t do that.? In the end, Icelanders amassed debts amounting to 850 percent of their G.D.P. (The debt-drowned United States has reached just 350 percent.)

Does that clear it up for you?

oh i know what you meant, don't get mad at me that you got your numerator and denominator backwards.

Originally posted by: techs
Notice how the brainwashed laissez-faire economists always run away when presented with the truth?
I have never seen anyone come back into an "Iceland is screwed" thread when they find out it is because of Icelands adoption of Reagans economic policies that screwed them and not what they believed, which is European style regulated economy.
Game, set and match.

i missed where fraud was legalized

De-regulation of markets has ALWAYS led to fraud.
See Savings and loan debacle, see Arthur Anderson, see Enron, see sub-pirme mortgages, etc, etc, etc.

Wasn't the subprime mess caused by governments enticing banks to loan to risky people? After all, if the banks failed, it was under the assumption that the government would bail them out.

Normally people chase capital, in the mortgage meltdown capital was chasing people.

The agent would change the monthly income on the loan application so if you put down $1500 a month the agent would change it to $4000. Then the agent would get a commission and they would sell the mortgage to someone else.

 

[zinfamous]

Originally posted by: magnux

Originally posted by: zinfamousI don't know man, last I checked (over the summer), it's ridiculously expensive to travel there. Don't imagine that prices will be cheap...

Well, we're not looking to go during the summer (or tourist seasons). I'm actually looking to go during the Fall/Winter -- we actually enjoy that kind of weather. Either way, I did some preliminary pricing and it actually comes out cheaper than our other desired destinations (Alaska, Russia).

So, Iceland it is this time around.. 😉

wow, cheaper than Alaska?

but yeah, when we were considering it, we were trying to work out a sidetrack from flying in and out of Dublin, from Chicago. the main trip was to the Baltics and Benelux, but we were weighing those options with Iceland, and even Northern Africa.

strangely the flight to Iceland was easily the most expensive.

Of course...they still had an "operating" government last summer 🙂

 

[zinfamous]

Originally posted by: RedSquirrel
I never realized people actually lived there. I thought it was just a giant ice/snow land. Then again, lot of Americans think the same about Canada. 😛

It would be an ideal location to build a data center though. If only I had that type of money.

opposite of Greenland, actually. Iceland is gorgeous, quite green with tons of kickass geological phenomena.

Greenalnd is just a giant sheet of unforgiving ice....mostly.

 

[zinfamous]

Originally posted by: TehMac

Originally posted by: techs
What is really funny is Iceland decided to follow Reaganomics since the late 1980's. In fact many of the Reagan administration economic advisors went to Iceland to set up a pure version of laissez-faire capitalism.

How's that working out for you, Iceland?

Sounds like leftist baloney.

Not surprising coming from you, but for the sake of the intellectualism you lack, I'm curious about this subject. Got any real links handy?

:laugh:

love the unfounded outburst where in the same post you admit you don't know what you're talking about.

ouch.

 

[ElFenix]

Originally posted by: techs

De-regulation of markets has ALWAYS led to fraud.
See Savings and loan debacle, see Arthur Anderson, see Enron, see sub-pirme mortgages, etc, etc, etc.

have any studies to show that fraud is more rampant in less regulated markets than more regulated markets?

 

[zinfamous]

Originally posted by: techs

Originally posted by: eleison

Originally posted by: techs

Originally posted by: ElFenix

Originally posted by: 13Gigatons

Originally posted by: ElFenix

Originally posted by: 13Gigatons
Don't gloat, America is heading in that direction with a 350% GDP to debt ratio we will soon catch Iceland's 850%.

mathfail

Iceland instantly became the only nation on earth that Americans could point to and say, ?Well, at least we didn?t do that.? In the end, Icelanders amassed debts amounting to 850 percent of their G.D.P. (The debt-drowned United States has reached just 350 percent.)

Does that clear it up for you?

oh i know what you meant, don't get mad at me that you got your numerator and denominator backwards.

Originally posted by: techs
Notice how the brainwashed laissez-faire economists always run away when presented with the truth?
I have never seen anyone come back into an "Iceland is screwed" thread when they find out it is because of Icelands adoption of Reagans economic policies that screwed them and not what they believed, which is European style regulated economy.
Game, set and match.

i missed where fraud was legalized

De-regulation of markets has ALWAYS led to fraud.
See Savings and loan debacle, see Arthur Anderson, see Enron, see sub-pirme mortgages, etc, etc, etc.

Wasn't the subprime mess caused by governments enticing banks to loan to risky people? After all, if the banks failed, it was under the assumption that the government would bail them out.

Wow. WRONG. It was because de-regulation let savings and loans go into commercial markets they were previously banned from. Once one or two banks made risky loans but showed huge profits other savings and loans were forced to follow or else their stocks would collapse.
If you even stop to think about it, are you really saying Reagan and the Republican forced savings and loans to make risky loans? And btw they weren't loans to risky people, they were loans to risky businesses. The savings and loan debacle was not housing related.
Amazing the amount of wrong info out there.

and don't forget that it was the de-regulation that led to ridiculous creations such as the internal AIG hedgefund mess (preposterously legal, actually).

It wasn't so much that the gov't enticed these loans, it's simply that there were no restrictions against it. It pretty much started with Reagen (the mass de-regulation), that's not even a debate, but it kept going on going after him. Pretty much every administration from Reagen on had their hands in this mess.

 

[BladeVenom]

Blaming Reagan :disgust: The Gramm-Leach-Bliley Act was signed by Clinton. Changes to the Community Reinvestment Act were also made by the Clinton administration.