Love Iceland, but *dupeof=http://videosift.com/video/What-We-Can-Learn-From-Iceland-TYT

This video has been nominated as a duplicate of this video by RFlagg. If this nomination is seconded with *isdupe, the video will be killed and its votes transferred to the original.

>> ^lurgee:

ICELAND! FUCK YEAH!


Yes........it ain't all volcanoes & Bjork

ICELAND! FUCK YEAH!

>> ^brycewi19:

Gotta ask, but can it be concluded that Iceland's actions with the banks and debt forgiveness is a direct correlation to their increase in GDP? Or are there other factors that this video is not including?


What other factors?

Iceland's biggest exports are aluminum and fish, which accounts for the majority of their GDP. Not exactly two dynamic growth powerhouses traditionally.

Some sifter's like to take shots at TYT (some not undeserved) but rarely back up the rhetoric with facts. All evidence points to the pulling the banks in to line and relieving the populace of massive debt burdens (freeing up cash to keep, for example, small businesses running employing people etc) as the major cause of a return to growth after the initial contraction.

You want to see a sort of pre-emptive version of this policy, look at Australia. We have a highly regulated and controlled banking environment and the government provided stimulus during the GFC. Our banks are not allowed to expose themselves to nearly the same level of risk that US or other banks are in deregulated markets. Now, in 2012, banks are taking record profits and the country didn't suffer nearly as badly as most of the rest of the developed world...

Funny thing about this urge to have few/no rules or punishment for banks and their executives, if you broke in to a store, robbed it and burned it to the ground, a republican would probably call for your head and more police to enforce that it doesn't happen again. So what happens when people do the same thing to the economy of a nation? They get rewarded with more money? Doesn't make sense to me.

>> ^brycewi19:

Gotta ask, but can it be concluded that Iceland's actions with the banks and debt forgiveness is a direct correlation to their increase in GDP? Or are there other factors that this video is not including?


Well look at it this way, if the drop in GDP was a direct correlation of the bankers screwups then logically the fix would hopefully bring it back up. That being said, there could very well be other factors, but they are only possible because of the actions taken against the banks... -shrug-

Gotta ask, but can it be concluded that Iceland's actions with the banks and debt forgiveness is a direct correlation to their increase in GDP? Or are there other factors that this video is not including?

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>> ^Bruti79:

Ehhh, it's a bit untrue. Iceland is dealing with hyper inflation at the same time. So much so, they're going to adopt the Canadian dollar as currency, because the kroner isn't worth the paper it's printed on =(


Well that's half-true. A few people were considering it, but it looks to not be going through (http://www.huffingtonpost.ca/2012/03/21/iceland-canadian-dollar_n_1369897.html).

Ehhh, it's a bit untrue. Iceland is dealing with hyper inflation at the same time. So much so, they're going to adopt the Canadian dollar as currency, because the kroner isn't worth the paper it's printed on =(

Fixed it, thanks.
In reply to this comment by RFlagg:
...doesn't appear to have worked. Anyhow, video is marked private so *dead

Goddamn you Icelandic girls do it to me every time.

my favorite was the Left Behind series by Tim Lahaye and Jerry Jenkins... Great fucking series!

If things start happening like is in Left Behind series and some singular person gets israel and palestine to sign a peace treaty, then I will believe 100% that shit is about to hit the fan and prophecy will be fulfilled, since israel and palestine 7 year peace treaty is supposed to be the first act of the antichrist since the antichrist comes as the perfect peace and globalization politician and unites the world in peace... but that peace only supposed to last 3 and half years before christian persecution begins.

course agnostic, but one of the signs have already started since the 90's atheists openly attacking, belittling and hating christians more and more is a sign and 1948 israel becoming a nation is the first. Which is why lot believe IF things follow a path, then 1948 is what kicked things off.

But regardless it is very interesting times, if we don't kill ourselves first or rise up and slay our politicians we'll soon be in full blown persecution of a police state.

hell right now places like Sweden and Iceland enjoy way more freedoms than USA does, USA has lost it's freedom, political correctness has ruined USA

He could have mentioned that Germany has a working fiscal union as well, it is a Federal Republic after all. Domestic tranfers between the states is a very successful and popular mechanism, or at least it used to be until a few weeks ago.

But I wanted to point out something else. Germany, with its export-centered economy, is the last country in Europe that could afford general austerity in the peripheral states or the union as a whole. The resulting decline in demand would cripple the German economy more than anything else. The European free-trade zone is paramount to German interests. So why the fuck would they push these extreme austerity measures on GIPSI? Not to mention that avoiding austerity works much better, as shown by Argentina and most recently Iceland.

But it's not just austerity that is being forced upon the periphery. The German proposal to install a European Commissionar to run Greece's finances has raised the stakes enormously. Forfeiture of national sovereignty, that's one fucked up idea of solving problems. Both default and austerity have severe economical consequences for Greece. But austerity and losing sovereignty would add a whole new dimension to the European crisis. Greeks are no strangers to being occupied by foreign powers, particularly the Germans. That's one explosive mixture we're talking about.

Plus, democratically elected governments in Greece and Italy were already replaced by technocrats, so what the hell are we doing here?