Posted 7 years ago on Nov. 3, 2011, 3:54 p.m. EST by emanonman
from Lahaina, HI
This content is user submitted and not an official statement
For those of us with short-term memory problems, it might be instructive to read the article here: http://bellacaledonia.org.uk/2011/08/25/why-iceland-shold-be-in-the-news-but-is-not/
At the beginning of the 2007-08 financial crisis, Iceland literally went bankrupt. Then it let its' bank actually fail, rather than make the taxpayers bail out the banks, despite INTENSE pressure from the IMF and the global banking criminals.
There were all kinds of dire predictions concerning what would happen to poor Iceland from the banking bandits, and yet 5 years later the Icelandic economy is back and doing fine.
This is a lesson for Greece and other countries not to accept tax-payer bank bailouts in return for "austerity" (recession and cutting government spending - sound familiar?)) which is what we did in the US and what they want Greece to do.
Funny we don't hear anything in the media about the success of the country that just let its banks fail over Really Stupid investments..
What's up with that, do you think?