In The Meantime Iceland Is #Winning

Tyler Durden's picture




 

While Greece and Europe continue sinking ever deeper into the colonial quicksand of Pax Goldmania, Iceland, which blew up, pushed its banks into bankruptcy, and arrested its corrupt bankers, is well on its way to being the world's only normal country.

  • ICELAND RATINGS RAISED TO INVESTMENT GRADE BY FITCH
  • FITCH UPGRADES ICELAND TO 'BBB-'; STABLE OUTLOOK
  • FITCH DOES NOT EXPECT ICELAND TO SLIP BACK INTO RECESSION
  • FITCH SAYS ICELAND GOVERNMENT DEBT PEAKED AT 100% OF GDP IN '11

Too bad the Goldman colony of Greece (and soon everyone else - thank you first lien "bailout" debt) will not see headlines such as these written about it any time in the next century.

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Fri, 02/17/2012 - 11:48 | 2169674 GeneMarchbanks
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Defaulting is winning!

Fri, 02/17/2012 - 11:51 | 2169697 Kaiser Sousa
Kaiser Sousa's picture

the bankers do it and then get bailed...hell yeah, defaulting is winning...

starve the beasts bitchez...

 

Fri, 02/17/2012 - 12:41 | 2169997 xela2200
xela2200's picture

Go vikings! Killing ugly people and crazy clergy through out Europe for hundreds of years. Shiiit, no wonder Finland and Norway have such a high standard of living.

Fri, 02/17/2012 - 13:02 | 2170114 VanillAnalyst
VanillAnalyst's picture

Where the fuck do I buy Icelandic Krona!?!?!?!?

Fri, 02/17/2012 - 15:30 | 2170914 JW n FL
JW n FL's picture

 

 

Do we have a FEMA Camp big enough to put ALL! of Iceland in?

Cause they be needin sum re-edumakshun! STAT! Mother Fuckers!

Fri, 02/17/2012 - 11:57 | 2169731 tmosley
tmosley's picture

Facing reality is winning.  Running from it is deadly.

Fri, 02/17/2012 - 12:03 | 2169761 redpill
redpill's picture

More specifically, refusing to socialize private losses is #winning.

Fri, 02/17/2012 - 12:04 | 2169769 battle axe
battle axe's picture

Iceland to the Europe: "Everyone who told me I was doing the wrong thing can now go fuck themselves. Oh wait, you already did"

Fri, 02/17/2012 - 12:59 | 2170095 Ghordius
Ghordius's picture

why didn't Ireland do the same? why? instead, the had to bail out Anglo-Irish...

Fri, 02/17/2012 - 13:24 | 2170205 Flakmeister
Flakmeister's picture

Read "Boomerang" for some insight....

Sat, 02/18/2012 - 03:50 | 2172512 Sir Humphrey
Sir Humphrey's picture

Just to make it clear Iceland did not default on anything. What they did is to allow private companies to fail and refuse to completely socialise the losses (there was some intervention by the State). Capitalism without bankruptcies is like Chrisitanity without Hell, it just does not work!

Fri, 02/17/2012 - 11:50 | 2169685 SMG
SMG's picture

GO ICELAND!!!!!

Fri, 02/17/2012 - 11:49 | 2169686 Momauguin Joe
Momauguin Joe's picture

Iceland hasn't been around for 1000 years by lapping up to banksters.

Fri, 02/17/2012 - 11:50 | 2169689 Theta_Burn
Theta_Burn's picture

+1 for reality

Fri, 02/17/2012 - 11:50 | 2169690 Sophist Economicus
Sophist Economicus's picture

It isn't that great in Iceland -- but I guess that is true  pretty much everywhere

Fri, 02/17/2012 - 12:00 | 2169739 dwdollar
dwdollar's picture

Knowing that some crooks are in jail and the worst may very well be behind you, does a lot to raise spirits and manifest REAL hope.

Fri, 02/17/2012 - 12:51 | 2170059 Sophist Economicus
Sophist Economicus's picture

True, especially if you are not going through the hardship the crash has caused.   The inflation has hurt lots of folks there and the government is try various 'public works' projects to try and restimulate the economy (a potentially scary thought).    But, the worst is probably behind them -- which is more that I guess I can say for us living here....

Fri, 02/17/2012 - 11:52 | 2169692 Cognitive Dissonance
Cognitive Dissonance's picture

Who would've thunk that projectile purging and a major league bowel movement by Iceland of the internal rot and decay could have been so refreshing and invigorating?

Who would've thunk?

Fri, 02/17/2012 - 12:12 | 2169837 DaveyJones
DaveyJones's picture

they are my heroes. In the whole world, just this island. OK now I'm depressed again.

Fri, 02/17/2012 - 12:38 | 2169991 Bay of Pigs
Bay of Pigs's picture

+1 My great grandparents were from Iceland.

Fri, 02/17/2012 - 15:58 | 2171010 DaveyJones
DaveyJones's picture

Go rub palms with as many americans as possible. Feed them skyr and hangikjot, whateverthehellittakes 

Help me Obi Wan, you're our only hope

Fri, 02/17/2012 - 11:51 | 2169698 Burnsy
Burnsy's picture

Of course it is. This is not a surprise. Like the famous fictitious banker P. Bateman would say: Just - say - no.

Fri, 02/17/2012 - 11:53 | 2169708 Raskolnikoff
Raskolnikoff's picture

Finally something to cheer about on Zerohedge! Now we need a leader that will take us where Iceland went.

Fri, 02/17/2012 - 12:00 | 2169750 tabasco71
tabasco71's picture

Houlihan Lokey?

Fri, 02/17/2012 - 13:03 | 2170119 Non Passaran
Non Passaran's picture

Sounds good but if I can choose, heather locklear pleeeeze!

Fri, 02/17/2012 - 13:50 | 2170368 Jackfish
Jackfish's picture

Snake Plisskin more likely

Fri, 02/17/2012 - 13:19 | 2170181 ChacoFunFact
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“the government should create, issue, and circulate all the currency and credit needed to satisfy the spending power of the Government and the buying power of consumers.  The privilege of creating and issuing money is not only the supreme prerogative of Government, but it is the Government’s greatest creative opportunity.  By the adoption of these principles… the taxpayers will be saved immense sums of interest.  Money will cease to be master and become the servant of humanity.”

--Abraham Lincoln

Fri, 02/17/2012 - 11:52 | 2169710 oogs66
oogs66's picture

Should be required reading in Greece

Fri, 02/17/2012 - 11:53 | 2169712 uno
uno's picture

they should change their name from Iceland to Utopia

Fri, 02/17/2012 - 11:54 | 2169713 swissaustrian
swissaustrian's picture

If it wasn't so cold and dark during the winters and the population wouldn't look all the same due to serious inbreeding, I'd consider moving there.

Fri, 02/17/2012 - 11:58 | 2169743 alexwest
alexwest's picture

no more in-bred than people here west to Chicago, or blacks of South.

alx

Fri, 02/17/2012 - 12:03 | 2169768 tired1
tired1's picture

It could be worse, much worse. Just wait and see as history rhymes.

Fri, 02/17/2012 - 11:55 | 2169720 alexwest
alexwest's picture

WAY TO GO... VIKINGS RULE

ALX

Fri, 02/17/2012 - 11:57 | 2169728 Zola
Fri, 02/17/2012 - 11:58 | 2169732 Ikea nesting in...
Ikea nesting instinct's picture

When rating agencies turn bullish the one should short...  and by the way, how can government debt peak when there is still a fiscal deficit that exceed GDP growth?

Fri, 02/17/2012 - 11:58 | 2169735 pods
pods's picture

Eyjafjallajökull Bitchez!

Fri, 02/17/2012 - 11:59 | 2169745 AccreditedEYE
AccreditedEYE's picture

Hey Greeks, get a f-ing clue. THIS is what you need to do. Iceland is THE model to follow. Storm parliment, burn it to the ground and tell Euro-Political-Banksters to go screw themselves. Take hold of your prosperity and the short term pain that will come with it.

Fri, 02/17/2012 - 12:00 | 2169749 FromGaltsGulch
FromGaltsGulch's picture

Guess it's time to drop an "i" from the PIIGS...

Long live the PIGS!!

 

way to show the way Iceland

 

 

Fri, 02/17/2012 - 12:09 | 2169802 FromGaltsGulch
FromGaltsGulch's picture

ignore this fellow zerohedges..got my piigs mixed up..this marke tputs my brains to sleep

Fri, 02/17/2012 - 12:07 | 2169780 lolmao500
lolmao500's picture

 

Too bad the Goldman colony of Greece (and soon everyone else - thank you first lien "bailout" debt) will not see headlines such as these written about it any time in the next century.

Or until revolution... whichever comes first.

Fri, 02/17/2012 - 12:08 | 2169782 Vincent Vega
Vincent Vega's picture

Iceland to be declared terrorist nation in need of being wiped off the map in 3...2...1  (it's for their own good).  <sarc>

Fri, 02/17/2012 - 12:07 | 2169783 hangemhigh77
hangemhigh77's picture

This is NOT na outcome that the banksters favor.  Send in Jamie Dimon to rectify this.

Fri, 02/17/2012 - 12:08 | 2169784 alien-IQ
alien-IQ's picture

if only their food were not so completely frightening, I'd live there in a heartbeat.

Fri, 02/17/2012 - 12:10 | 2169813 hangemhigh77
hangemhigh77's picture

just close your eyes and hold your nose, it all tastes like chicken then.

Fri, 02/17/2012 - 18:46 | 2171695 BidnessMan
BidnessMan's picture

Uhh.... the rotting shark the Icelanders consider a national delicacy does not taste like chicken.  But the Blue Lagoon football field size hot tub near the airport is pretty relaxing.

Fri, 02/17/2012 - 12:08 | 2169792 hangemhigh77
hangemhigh77's picture

Bankster help is needed here. Send in NATO and save the people.

Fri, 02/17/2012 - 12:09 | 2169794 Slartibartfast
Slartibartfast's picture

Proof positive that the customer is always right. Banks can threaten to smother the customer, but then they wind up with...you guessed it...a lloss of the customer.

 

What I want to see is governments now explore the option of taxing commodities producers in the commodities they produce, and use them to backstop their currency. For example, lower the tax rate on gold producers but only on the proviso that their taxes are paid in gold. Same with silver, copper, oil, etc.

 

Would this work? Would this begin to put a solid floor under currencies? By all means, please comment...the question is theoretical.

Fri, 02/17/2012 - 12:13 | 2169848 hangemhigh77
hangemhigh77's picture

The only problem with your plan is I'm SICK of governments TAXING everything. Then you turn around and court clerks cops and all govt workers are driving Mercedes, living in 5k sq ft houses and vacationing in the south of France.  These aholes are making TWICE what we make for stamping paper and taxing us for everything we do.  Soon there will be a fart tax.  And it's pretty obvious the money isn't being spent on us.  How about this,........get RID of all this friggin GUBMINT!!!!

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