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Iceland Was Right, We Were Wrong: The IMF

Business  (tags: Iceland, banking cabal, corporate media, governments, parasite bankers )

- 2471 days ago -
For approximately three years, our governments, the banking cabal, and the Corporate Media have assured us that they knew the appropriate approach for fixing the economies that they had previously crippled with their own mismanagement.


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Jason S (50)
Wednesday August 15, 2012, 7:20 pm

Past Member (0)
Thursday August 16, 2012, 3:43 am
The Icelandic GDP has only recovered to 92% of 2007 and only 90% of 2008. This abysmal performance mirrors almost exactly that of another country: Greece. The Greeks are actually better off since they at least managed to preserve their savings. Icelandic savers lost half of theirs to hyperinflation. Only a clueless observer would describe the episode as painless adjustment. Only a total madman would call it a miracle. I am also not convinced that devaluation of a currency would not be offset from other countries doing the same. On the other hand, they do compare favorable when compare to several developing Baltic countries.

Roger G (148)
Thursday August 16, 2012, 1:18 pm
noted thanks !

Past Member (0)
Friday August 17, 2012, 3:37 pm
Maybe, i didn't read the article closely enough, but i think the author misses 2 very important points about the Iceland experience; 1. Iceland jailed its criminal banksters. 2. Mortgages were written down to fair market value.

Mary Donnelly (47)
Friday August 17, 2012, 4:39 pm
I agree with Robert O

Marie W (67)
Friday August 17, 2012, 10:10 pm
Iceland went left- all other went right.

Kerrie G (116)
Saturday August 18, 2012, 11:07 pm
Noted, thanks.

M B (62)
Tuesday August 21, 2012, 10:29 am
I agree with Robert O.
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