Re: Iceland meltdown?

On Wed, 08 Oct 2008 20:38:49 -0400, Andy Gefen
<zagefenz@xxxxxxxxxxxxxxx> wrote:

On Wed, 8 Oct 2008 15:31:45 -0700 (PDT), potatosnketchup
<potatosnketchup@xxxxxxxxx> wrote:

On Oct 7, 1:51 pm, ML <mary.egret1...@xxxxxxxxx> wrote:
Just when you thought you could move to
good old Iceland to escape the U.S. horrors,
their economy is in serious crisis.

http://www.belfasttelegraph.co.uk/breaking-news/world/europe/iceland-...

"Iceland's Prime Minister has given a televised speech
warning that the country faces possible "national bankruptcy"
due to the global financial crisis.

Geir Haarde made the comments last night following a
day of panic on stock markets across the world.

Iceland is particular exposed to the financial crisis as its
banking sector totally dwarves the rest of the economy.

The situation has led to soaring inflation and a massive
fall in the value of the Icelandic krona.

The Government has introduced emergency legislation
giving it sweeping new powers over the financial sector in
an effort to stave off a total economic collapse.

Brad what is the world coming to?
Is it the end of the world as we know it?


I REALLY BELIEVE THERE'S A SIMPLE FIX FOR ICELAND. ITS SMALL SIZE
MAKES IT PRACTICAL.

Particularly now that most major economies have seen their
central
interest rates cut, it's easier to restart the carry trade, a
perfectly
appropriate, internationally constructive function, with a very
modest
interest rate
increase.

Your small population means you can subsidize all domestic loans
for a period of time of your choosing. Obviously some simple
safeguard
needs to assure Icelandic citizens are receiving the subsidized
loans.


That could just do like "Lost" and turn a wheel and move the whole
island. Start fresh somewhere else.

-- Andy (remove z's to respond)

If they move it to the Caribbean, I'm there in a heartbeat!

JimK
.

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