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Countries Are Now Failing ... Iceland is Essentially Bankrupt (pg. 3)
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| Funkesthesiac69 |
| quote: | Originally posted by jerZ07002
i agree it may signal a some underlying weaknesses, however, as i said before, I think Iceland is entirely unique. They are highly leveraged and have little to no production capabilities. Almost their entire economy was built on foreign debt (as opposed to domestic production). I wasn't suggesting that because it is small it is not a big deal. I prefaced the comments in my original post with the statement about Icelands lack of domestic production capabilities. |
Iceland is a goldmine for the potential exploration and refinement of geothermal energy which if harnessed correctly could improve this situation dramatically. Unfortunately one of the most wealthy countries per capita in Europe is about to go under. I hope that this is not yet another signal of terrible things to come for other major countries |
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| jerZ07002 |
| quote: | Originally posted by Funkesthesiac69
Iceland is a goldmine for the potential exploration and refinement of geothermal energy which if harnessed correctly could improve this situation dramatically. Unfortunately one of the most wealthy countries per capita in Europe is about to go under. I hope that this is not yet another signal of terrible things to come for other major countries |
Unfortunately, iceland doesn't have the necessary capital to make large strides in any energy programs. Exxon mobile throws more money into energy R&D than the entire GDP of Iceland. |
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| Lebezniatnikov |
| quote: | Originally posted by jerZ07002
Unfortunately, iceland doesn't have the necessary capital to make large strides in any energy programs. Exxon mobile throws more money into energy R&D than the entire GDP of Iceland. |
Yet Iceland is 100% off petrochemicals for energy. |
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| Krypton |
| quote: | Originally posted by Lebezniatnikov
Yet Iceland is 100% off petrochemicals for energy. |
Which was one reason I thought about Iceland as my safe haven when the world imploded. |
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| DJ Shibby |
| quote: | Originally posted by Lebezniatnikov
Yeah, it's fairly deceitful to claim this wouldn't have happened had Bush not been in office. |
The facts of reality are that it happened with Bush in office. The guy has failed every business he's ever lead, and a deep cause of this entire economic situation is the middle eastern wars. |
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| Krypton |
| quote: | Originally posted by DJ Shibby
The facts of reality are that it happened with Bush in office. The guy has failed every business he's ever lead, and a deep cause of this entire economic situation is the middle eastern wars. |
At least you can have a beer with him..:mad: |
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| Lebezniatnikov |
| quote: | Originally posted by Krypton
At least you can have a beer with him..:mad: |
| quote: | WASHINGTON - People would rather watch a football game with Barack Obama than with John McCain — but by barely the length of a football.
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Obama was the pick over McCain by a narrow 50 percent to 47 percent, according to an Associated Press-Yahoo News poll released Friday that generally mirrored each presidential candidate's strengths and weaknesses with voters. Women, minorities, younger and unmarried people were likelier to prefer catching a game with Obama while men, whites, older and married people would rather watch with McCain. |
http://news.yahoo.com/s/ap/20080919...o_poll_football |
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| pkcRAISTLIN |
but why australia in particular? we keep getting told that our banks are in awesome shape. |
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| jerZ07002 |
so much for not being so doom and gloom. You can't expect lower central bank targets to have an immediate effect when the sentiment is so low. It will take some time. The fed probably hasn't taken any actions to meet that target anyway. In normal times a statement would have an immediate effect regardless that the fed didn't buy/sell treasuries in the market to hit the target. With so much negativity around, people are hesitant to make the first move.
hey, tough times are only tough if you're unemployed. For everyone else it can actually be a pretty good time to make money. If you don't own a house, you can get a house for a good price. If you're not currently invested in the stock market, pretty soon will be a good time because equities are trading at the lowest P/E in a long time. I was actually thinking about tossing a my savings account in the market, but i'd like to see some uptick first. |
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| jerZ07002 |
| quote: | Originally posted by Lebezniatnikov
Yet Iceland is 100% off petrochemicals for energy. |
I meant on a scale that it could be exported for use around the world. As you know, Iceland has a unique geography that permits expansive geothermal production. The easy part is harnessing that massive supply of energy for themselves because it is so abundant in iceland. The difficult part is refining the process so that it is economical for the parts of the world with the more difficult geothermal potential. |
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| Krypton |
| Why couldn't the banks save themselves, renegotiate their mortgages, and that's that? I mean, damn, foreclosing should be something the bank avoids at all costs. Sometimes I suspect this was all done on purpose to usher in the creation of a world central bank, because now it seems, that no one central bank can do much to stem a global economic collapse. So now, we'll need a "World Central bank", or, "UN Central Bank". |
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