Iceland

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Wall Street Stunned As Iceland Dares To Jail Banker Involved In 2008 Crash





"this sentence is a big surprise to me as I did nothing wrong..."

 
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And The 10th Most Prosperous Nation In The World Is...





USA! USA! USA!

 
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Frontrunning: November 6





  • LOL@Fundamentals: European Stocks Fall as Investors Seek Stimulus Clarity (BBG)
  • Obama, Republicans sound conciliatory note but battles loom (Reuters)
  • Firms drop Pimco funds from managed accounts (Reuters)
  • Not All QE Is Created Equal as U.S. Outpunches ECB-BOJ (BBG)
  • Ukraine Accuses Russia of Sending Troops as Truce Wobbles (BBG)
  • Lenovo Slumps After Projecting China ‘Hypergrowth’ to End (BBG)
  • Palo Alto Networks discovers new malware targeted at Apple devices (Reuters)
  • IPO That Brought In $1 Billion in March Implodes in Denmark (BBG)
 
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Child Poverty Jumps 2.6 Million Since 2008, While Number Of Billionaires Doubles





Two headlines came across my screen today, which taken together pretty much sum up the effects of policy decisions made by Central Bankers and politicians since the financial crisis. The financial oligarchs got bailed out, and the rich got richer due to decisions made by “leaders” around the globe. As such, the entire planet has now been transformed into a neo-feudal tinderbox.

 
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A New Age Of IMF Bailouts – Great Britain In The 1970s





Hearing of IMF interventions generally conjures up images of developing nations (and the occasional Eurozone peripheral economy of late) facing some kind of financial difficulty. But it was actually Great Britain, the cradle of the industrialized world, which in 1976 became one of the first countries ever to be "bailed out" by the IMF in the modern sense of the term.

 
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Credit Bubble Rhymes with Trouble





Low interest rates are a direct cause of credit bubbles, and this is what is happening in Singapore

 
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The World's 10 Biggest Energy Gluttons





Next time you get into your car and drive to the supermarket, think about how much energy you consume on an annual basis. It is widely assumed that Westerners are some of the world’s worst energy pigs. While Americans make up just 5 percent of the global population, they use 20 percent of its energy, eat 15 percent of its meat, and produce 40 percent of the earth’s garbage. Europeans and people in the Middle East, it turns out, aren't winning any awards for energy conservation, either. Oilprice.com set out to discover which countries use the most energy and why. While some of the guilty parties are obvious, others may surprise you.

 
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Japan Declares Level 3 Emergency, At Least One Dead After Volcano Erupts In Central Japan





When one thinks of Japan and natural disaster, the things that usually come to mind are earthquakes, tsunamis, radioactive lizards, the occasional massive nuclear power plant explosion. Not volcanoes - those are usually delegated to the sole country that dared to give bankers the middle finger, Iceland. And yet, overnight Japan declared a level 3 alert (on a scale of 1 to 5) when a volcano in central Japan erupted, sending ash clouds down the mountain’s slope for more than 3 kilometers. According to RT, at least one person has died and 70 were injured, while aircraft have been forced to divert to avoid the dangerous area. Medics confirmed the death of at least one person, while 70 more were reported to be injured, NHK reported. Thirty of the injured have been sent to hospital in critical condition, health officials added. One can only hope there were no nuclear power plants in the immediate vicinity of the volcano.

 
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Subprime Is Back With A Vengeance





This is where our economies are perverted. It’s the final excesses and steps of a broke society. It’s madness to the power of infinity. The only thing that’s certain is that in the end, your money will all be gone. That’s how Mario Draghi ‘saves’ the EU for a few more weeks, and that’s how the big boys of finance squeeze more from what little you have left (which is already much less than you think). A world headed for nowhere.

 
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Stunning Video Of Iceland's Massive Lava-Fountain Lake





While Iceland's serene landscape may be the perfect analogy for world markets currently, the eruption of its Bardarbunga volcano shows what fierce reality lies just beneath the surface. Capitalism and free markets will always find away though, and as RT reports, one travel company is cashing in on the incredible awe-inspiring images by offering tours over the volcano at a height of around 150 meters. As the following stunning clip shows, at $920, it may well be the trip of a lifetime...

 
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Fissure Eruption Begins In Iceland As Bardarbunga Magma Breaches The Surface





As Icenews reports, a fissure eruption has started in the Holuhraun lavafield north of Dyngjujökull. Newly formed crevasses were spotted in surveillance flyovers by scientists yesterday and at that time geophysicist Magnús Tumi Guðmundsson estimated that the magma intrusion which had been monitored for the previous week was moving only 2 kilometres under the surface.  The magma has now breached the surface and the volcanic eruption has been confirmed by scientists in the field. The low frequency tremors suggests the eruption is located outside the glacier. The blaze can be observed in Mila’s webcameras, two of which are trained on Vatnajökull glacier’s Bárðarbunga area.

 
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The Five Cities Most At Risk For The Next Big Earthquake





Damages from the earthquake that hit the San Francisco area this weekend are estimated to be as high as $4 billion. For many cities around the world, particularly coastal cities situated on the geologically active Ring of Fire, an earthquake could be catastrophically destructive. Bloomberg looks at the five cities that are most vulnerable to earthquakes. As Michael Snyder rather ominously warns, the quake last weekend is just the start of the shaking in California... Scientists assure us that it is only a matter of time before "the Big One" hits California.

 
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Frontrunning: August 25





  • Jackson Hole Theme: Labor Markets Can’t Take Higher Rates (BBG), or anything else for that matter
  • Kidnappers free American missing in Syria since 2012 (Reuters)
  • More unpatriots: Burger King in merger talks with Canada's Tim Hortons (Reuters)
  • California Quake to Cost Insurers Up to $1 Billion, Eqecat Says (BBG)
  • Congo declares Ebola outbreak in northern Equateur province (Reuters)
  • Missouri Governor Defends Ferguson Prosecutor (BBG)
  • Kuroda Douses Japan Stimulus Expectations (WSJ)
  • London Jihadi Call Vies With Banks in Canary Wharf Shadow (BBG)
  • Netanyahu Signals Expansion of Air Attacks in Gaza (WSJ)
  • Libya's Islamist Militias Claim Control of Tripoli (WSJ)
 
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Iceland's Bardarbunga Volcano Begins To Erupt, Ash Cloud Imminent After Aviation Warning Raised To "Red"





Moments ago Iceland's meteorological service reported that the island's Bardarbunga volcano, having been closely observed by volcano-watchers for the past month due to heightened seismic activity, has begun to erupt which means in addition to Russia's trade war, Europe now has another volcanic eruption to blame its latest GDP contraction on. As the local Met office summarizes, a "small" eruption of lava has occurred to the northeast of the volcano leading the Icelandic National Broadcasting Service to declare that "all air traffic is now prohibited in a large radius around the volcano."

 
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Is Portugal Next In Line For Wealth Confiscation?





The pattern should be seared in your memory by now. If you fail to recognize it, you could be struck with a huge financial blow. It’s a pattern that has played out over and over throughout history: a government gets into financial trouble, then denies there’s a problem, which is followed by a surprise wealth grab. That’s exactly what happened when bank deposits in Spain and Cyprus were raided. We’ve also seen retirement savings confiscated in some form in Poland, Portugal, and Hungary. Capital controls have been imposed in Cyprus and Iceland. Of course these aren’t the only examples of blatant government thievery. These examples are just within Europe and just within recent years. They can and will happen anywhere.

 
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