The United States of Iceland?

[Ron B]

Here is an interesting article about what went down in Iceland in the past decade for those that give a siht about another country that had VERY similar economic issues to what we have now. It is also strange that no one here I talk to seems to know anything about it except "they went bankrupt, right." I am not saying they have or had the solution, but it is wise to be aware of what is going on around us. It's interesting to see how others solve problems that are not only like ours but happened in the same way.

http://www.truth-out.org/why-iceland-should-be-news-not/1322327303

besides...who doesn't love Bjork?!

 

[DJinCO]

A lot of things contributed to the collapse in Iceland. The fall of the Soviet Union was partially responsible for the lack of US Defense dollars flowing into Iceland. US spent Billions in lease payments for bases, and US stationed in Iceland added to the economy also.

When Uncle Sam stopped sending the cash the Icelandic govt was forced to try to make money elsewhere.

All of these factors caused the collapse.

What do you think would happen in South Korea is Uncle Sam pulls out?
How long before the US is involved in a conflict with Saudi Arabia?
Guess what happens when the price of a barrel of crude oil drops...

 

[HUMMER INVESTMENTS]

Very interesting read!

 

[Paladine71]

Inevitable at this point. Coming back from $15 trillion in debt, and over $100 trillion in unfunded liabilities is mathematically impossible. There will either be a collapse or a revaluation of our currency. Better prepare for it while you still can.

 

[Ron B]

A lot of things contributed to the collapse in Iceland. The fall of the Soviet Union was partially responsible for the lack of US Defense dollars flowing into Iceland. US spent Billions in lease payments for bases, and US stationed in Iceland added to the economy also...When Uncle Sam stopped sending the cash the Icelandic govt was forced to try to make money elsewhere...All of these factors caused the collapse.

of course I agree that the US bases closing in '06 was a sizable loss of income ($225mil/yr according to Rumsfeld) but a relatively small piece of their gdp (€9 billion) and a tiny amount compared to how bad the banks were leveraged (€50 billion).

 

[Ron B]

Inevitable at this point. Coming back from $15 trillion in debt, and over $100 trillion in unfunded liabilities is mathematically impossible. There will either be a collapse or a revaluation of our currency. Better prepare for it while you still can.

scary times ahead.

 

[kd7irm]

Inevitable at this point. Coming back from $15 trillion in debt, and over $100 trillion in unfunded liabilities is mathematically impossible. There will either be a collapse or a revaluation of our currency. Better prepare for it while you still can.

And that's if things are good, but realistically it will be a collapse of much much more. Those is power want to stay in power and are willing to do what ever it takes, including the total collapse of everything we know, just so they can have a shot at rebuilding it their way, the cost is your freedom. and that's a cost they are more than happy to pay. They can just print more money.....



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[deserth3]

Inevitable at this point. Coming back from $15 trillion in debt, and over $100 trillion in unfunded liabilities is mathematically impossible. There will either be a collapse or a revaluation of our currency. Better prepare for it while you still can.

I hope you're wrong, but I fear you're right.

scary times ahead.

True that!

During the "Great Depresson" weren't we comparitively this much in debt. We recovered then.
All of these bail outs have put us in a very bad situation. What's scary is watching a hard core Obama supporter blame it all on conservatives.

I'm tired of "it's not my fault politics".

 

[Ron B]

All of these bail outs have put us in a very bad situation. What's scary is watching a hard core Obama supporter blame it all on conservatives.
I'm tired of "it's not my fault politics".

I hope you are not talking about me...I am too doom and gloom to be right or left. I too am tired of one party blaming the other when they are both at fault. Decisions made during every administration for the past 30 years got us where we are today. If there's one constant, it's that they aren't in it for us.

I agree about the bailouts really screwing us...that is one of the similarities I saw with what happened in Iceland -- the people having to foot the bill for bailouts that didn't work and freaking out about it.

 

[06 H3]

http://1.bp.blogspot.com/_2vjUhoB2ELY/Sp2GDzzqRQI/AAAAAAAABEo/_Pfm7pBIrak/s400/Obama2012-1.JPG

All I can say is I get nervous when I see this...

 

[deserth3]

I hope you are not talking about me...I am too doom and gloom to be right or left. I too am tired of one party blaming the other when they are both at fault. Decisions made during every administration for the past 30 years got us where we are today. If there's one constant, it's that they aren't in it for us.

I agree about the bailouts really screwing us...that is one of the similarities I saw with what happened in Iceland -- the people having to foot the bill for bailouts that didn't work and freaking out about it.

No, not you.
I work with both hardcore sides of the political views. It's getting old and I'm finding it harder everyday to go to work. If i could find a new job I'd leave tomarrow.

 

[Ron B]

No, not you.
I work with both hardcore sides of the political views. It's getting old and I'm finding it harder everyday to go to work. If i could find a new job I'd leave tomarrow.

Ha! I was hoping I wasn't coming across that way -- not my intention! I know what you mean about being surrounded. It's amazing how one sided folks can be, not even entertaining the notion that there is another side to the coin. I am stuck in the middle poking fun at both sides!

I was very conservative until 9/11. I guess I kind of lost hope after that.

 

[Paladine71]

During the "Great Depresson" weren't we comparitively this much in debt. We recovered then.

Big difference, we were on the gold standard back then. There is not enough gold in existance to back a fraction of our debt now. We owe more than the GDP of the entire planet combined. To get people to surrender their freedom and national sovereignty will require them to WANT to do it. Collapsing the currency and making them desperate would do just that. Are you ready for a global government?

 

[deserth3]

Ha! I was hoping I wasn't coming across that way -- not my intention! I know what you mean about being surrounded. It's amazing how one sided folks can be, not even entertaining the notion that there is another side to the coin. I am stuck in the middle poking fun at both sides!

I was very conservative until 9/11. I guess I kind of lost hope after that.

I was conservative then and still am now. Though I'm not hard core. But from my experience a hard core liberal is a scairy thing. They want you to believe they're pro personal liberty. But it's just so long as you see things as they do and they have no problem making laws to restrict personal liberties so everyone has to follow their views. And while they do this they tell you it's for your own good.

9/11 was bound to happen. Our security was too weak and because of the prior actions of several presidents before 9/11. They thought we would do nothing to retaliate. Don't know what's going to happen in the furture. But they are out there trying to do something else to us. Keep trying and eventualy they will succede.

 

[deserth3]

Big difference, we were on the gold standard back then. There is not enough gold in existance to back a fraction of our debt now. We owe more than the GDP of the entire planet combined. To get people to surrender their freedom and national sovereignty will require them to WANT to do it. Collapsing the currency and making them desperate would do just that. Are you ready for a global government?

Thanks. I'll admit I'm not much of an ecconomist.
I find the thought of a global government a frightening thought.

 

[3Hummers]

News out this morning. The FED floated 8 trillion into the financial system to keep it afloat on top of loaning the banks tens of billions more than reported, non of which they told their investors. Lots of laws getting bent/broken by the people that are supposed to keep them.

 

[Ron B]

like I said -- they are on their own mission. Look where the money went, then look where their stock portfolios went.

 

[Ron B]

9/11 was bound to happen. Our security was too weak and because of the prior actions of several presidents before 9/11. They thought we would do nothing to retaliate. Don't know what's going to happen in the furture. But they are out there trying to do something else to us. Keep trying and eventualy they will succede.

We were (are) meddling all over the world so it was bound to happen...very sad. Hind-sight is 20/20 as they say. The whole thing still sickens me.

And here's an honest question...who thought we would do nothing?

 

[deserth3]

We were (are) meddling all over the world so it was bound to happen...very sad. Hind-sight is 20/20 as they say. The whole thing still sickens me.

And here's an honest question...who thought we would do nothing?

I've read part of the problem Islam has against us was because Reagan ignored them while he was president. Damned either way.

 

[deserth3]

News out this morning. The FED floated 8 trillion into the financial system to keep it afloat on top of loaning the banks tens of billions more than reported, non of which they told their investors. Lots of laws getting bent/broken by the people that are supposed to keep them.

I hope some of Obamas cronies go to jail for all of this. Wouldn't mind Obama going with them.

 

[Silverton34]

The current administration wants us on an even par with the rest of the world. We are still too wealthy and they are fixing it fast. Then it will be much more fair to everyone. Don't you guys get it? It has to be fair!

 

[Paladine71]

Fair as in communism. Fair for the rulers, while the rest of us are equally peasants.

I've spent many years in the Middle East, and I have friends and enemies there. The real problem that the Persians and Wahabi Muslims have with us is that we are not Muslim. By doctrine, they are told to conquer the world for Islam. There are only two places in the world to them, Muslim land and land yet to be conquered and converted. Anything else is either ignorance or denial of the truth.

 

[Paladine71]

News out this morning. The FED floated 8 trillion into the financial system to keep it afloat on top of loaning the banks tens of billions more than reported, non of which they told their investors. Lots of laws getting bent/broken by the people that are supposed to keep them.

Here is an article on the subject.... http://www.daltonfinancialnews.com/2011_11_secret_fed_loans.html

 

[Ron B]

The current administration wants us on an even par with the rest of the world. We are still too wealthy and they are fixing it fast. Then it will be much more fair to everyone. Don't you guys get it? It has to be fair!

you mean every administration for quite some time -- they all did their part to break our piggie bank...this is evidenced by the money they make at our expense and leaving us with the bill. It's a bit silly to think all this turmoil we are currently happened only because of the last three years. We would be in similar (if not exact boat) no matter who was in office right now. They are all crooks.

 

[Ron B]

they just arrested the ceo of one of the three banks that destroyed their economy

http://www.businessinsider.com/iceland-glitnir-bank-larus-welding-2011-12