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Author Topic: Iceland going bust? (Angus?)  (Read 4060 times)

Offline Angus

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Re: Iceland going bust? (Angus?)
« Reply #105 on: February 01, 2009, 11:56:51 AM »
Afraid so.
BTW, the Spanish once declared that there was no way they'd pass Iceland into the EU without getting fishing rights.
We should pass for fishing rights in our waters for the sake of tradition, however the question remains if others will get them too. Which means too much fishing, and honestly, the EU fishing policy has not been working very well.
The Icelanders and Norse both fish a lot of cod with not much of a problem while cod is extinct in large waters around the world, noteably in the EU zone.
And then there is the oil....
IMHO the EU suits well to the countries of mainland Europe that are chunked together anyway, and it has at least kept things at quite some peace. But expanding with trickery and forming into a federal state, - that is IMHO a bit too much.
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It was very interesting to carry out the flight trials at Rechlin with the Spitfire and the Hurricane. Both types are very simple to fly compared to our aircraft, and childishly easy to take-off and land. (Werner Mölders)

Offline Angus

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Re: Iceland going bust? (Angus?)
« Reply #106 on: February 06, 2009, 04:07:52 AM »
More of economy, - since Iceland isn't the only one in trouble.
Did it start in the USA?
The similarities are there, - our country increased consumption (which the banks virtually encouraged) without increasing export. The currency was still rising, and one day such a balloon must pop.
The Bankers didn't think so (although they were scurrying off to the Cayman islands with their illgotten gains just days before the collapse), but from a farmer's point of view it looked likely.
Here is one prophet from the USA, - reminds me very much of what happened here:
http://www.youtube.com/watch?v=2I0QN-FYkpw&feature=related

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It was very interesting to carry out the flight trials at Rechlin with the Spitfire and the Hurricane. Both types are very simple to fly compared to our aircraft, and childishly easy to take-off and land. (Werner Mölders)

Offline soda72

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Re: Iceland going bust? (Angus?)
« Reply #107 on: February 06, 2009, 06:18:04 AM »
I like how they were all laughing at Peter Schiff when he said don't invest in financials.  I also like the part where someone mentions Morgan Stanely being a great investment because it's a well managed company..

 :lol

Peter has been wrong on a few things too, he said many times that the dollar would collapse by October 2008. He said commodities would skyrocket because of this collapse and he said gold would move much higher.

He was wrong on all counts.
« Last Edit: February 06, 2009, 07:13:07 AM by soda72 »
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Offline Angus

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Re: Iceland going bust? (Angus?)
« Reply #108 on: February 06, 2009, 11:04:32 AM »
But on the air going out of the balloon...he was right.
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It was very interesting to carry out the flight trials at Rechlin with the Spitfire and the Hurricane. Both types are very simple to fly compared to our aircraft, and childishly easy to take-off and land. (Werner Mölders)

Offline ROX

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Re: Iceland going bust? (Angus?)
« Reply #109 on: February 06, 2009, 11:14:15 AM »
Tell the EU to pucker up and kiss your Icelandic backsides when it comes to "fishing rights".

Just because some country joins OPEC do they sign away "drilling rights" on it's neighborhood?  Think not.

Iceland has it's own jobs and industries to support.   

Good Luck, Angus, and as my own country tries to pull itself up by it's ecenomic bootstraps--I hope that yours, and others around the world do so as well.  It's only in all of our own best interests.   :salute



ROX


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Offline soda72

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Re: Iceland going bust? (Angus?)
« Reply #110 on: February 06, 2009, 02:10:31 PM »
Quote from: Angus on February 06, 2009, 11:04:32 AM
But on the air going out of the balloon...he was right.

He was right about the financial markets, there were few others that brought it up as well.  I don't agree with his views about going back to a gold standard.
« Last Edit: February 06, 2009, 03:52:00 PM by soda72 »
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Offline Angus

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Re: Iceland going bust? (Angus?)
« Reply #111 on: February 06, 2009, 04:04:10 PM »
Quote from: ROX on February 06, 2009, 11:14:15 AM
Tell the EU to pucker up and kiss your Icelandic backsides when it comes to "fishing rights".

Just because some country joins OPEC do they sign away "drilling rights" on it's neighborhood?  Think not.

Iceland has it's own jobs and industries to support.   

Good Luck, Angus, and as my own country tries to pull itself up by it's ecenomic bootstraps--I hope that yours, and others around the world do so as well.  It's only in all of our own best interests.   :salute



ROX

Hehe, just my thoughts.
So for you :  :rock

And Soda, - I'd buy gold today rather than...stocks. I would have done so for more than a year. Much more...



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It was very interesting to carry out the flight trials at Rechlin with the Spitfire and the Hurricane. Both types are very simple to fly compared to our aircraft, and childishly easy to take-off and land. (Werner Mölders)

Offline iTunes

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Re: Iceland going bust? (Angus?)
« Reply #112 on: February 11, 2009, 01:43:39 PM »
Don't me started on EU fishing rights, Scotland got well and truely screwed over that :mad:
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Offline Angus

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Re: Iceland going bust? (Angus?)
« Reply #113 on: February 12, 2009, 02:31:17 AM »
Just about NO cod fished out of the North sea, right?
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It was very interesting to carry out the flight trials at Rechlin with the Spitfire and the Hurricane. Both types are very simple to fly compared to our aircraft, and childishly easy to take-off and land. (Werner Mölders)

Offline Nilsen

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Re: Iceland going bust? (Angus?)
« Reply #114 on: February 12, 2009, 02:52:11 AM »
I wonder what would have happened if interest rates out to the banks would have been slashed at the beginning of the credit crunch and not in 100 small steps. Maybe more of the idiot lenders would have been able to pay for the homes they "own" and kept the housing marked from collapsing in some countries. Add more government regulation on the financial sector on top of that to keep it from happening again with _new loans_ and maybe we would have had a softer landing on this.

In the long run though a high interest rate is needed to teach people that having so much debt is a bad thing and that DRIVING the economy by spending with borrowed money is not the way of the future.

In the end i blame every parent out there that FAIL to teach their kids that spending money before you make it is a bad thing. That goes for housing, cars, luxury items AND using your credit card to buy every day items so that you are always one month behind.

Ive had the credit card usage debate here several times before and those who still does not get it prolly never will (until they cant pay off one due to something (like loosing your job) that supposedly wont happen that is);)
« Last Edit: February 12, 2009, 02:54:42 AM by Nilsen »
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Offline Angus

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Re: Iceland going bust? (Angus?)
« Reply #115 on: February 12, 2009, 02:58:20 AM »
I do not have a CC :D
Not a car, nor a house....
Just debts from the business.
The grim reality up here is that the banks are now overloading the business with insane interest rates. and if those do not get dropped soon, it will lead to a collapse, - 60% of our corporate sector is now technically bankrupt. A bankrupt company offers no revenue. Kind of like teaching your kid not to use a credit card by shooting the kid dead. . . . . AFTER the card was used.
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It was very interesting to carry out the flight trials at Rechlin with the Spitfire and the Hurricane. Both types are very simple to fly compared to our aircraft, and childishly easy to take-off and land. (Werner Mölders)

Offline Nilsen

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Re: Iceland going bust? (Angus?)
« Reply #116 on: February 12, 2009, 03:05:39 AM »
Iceland is in a special situation and it is a difficult one. What Iceland needs if you can get it is a huge loan from the international community. You then need to pump that money into the banks at cost and then those businesses that owe money to the banks has to get refinanced at cost. It will mean that the banks wont make money (break even) but the businesses and homeowners that depend on them will live and have a chanse to recover. The loans that the government gives to the banks could be in the form of shares in the banks until they can pay it all back.
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Offline Angus

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Re: Iceland going bust? (Angus?)
« Reply #117 on: February 12, 2009, 06:12:31 AM »
Precisely.
The govt (that fell) wasn't planning on that, most on the loanmoney goes for repaying foreign investors their losses from the bank collapse, - business would have to take care of itself, as well as the people end up with this bill from the banks. The new govt is ready to plunge into more debt for restoring the businesses.
Unemployment is now rocketing, despite people moving out of the country as well as foreign workers returning to their homes.
But the farmer always stays, and some businesses, such as tourism, are on the rise.
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It was very interesting to carry out the flight trials at Rechlin with the Spitfire and the Hurricane. Both types are very simple to fly compared to our aircraft, and childishly easy to take-off and land. (Werner Mölders)
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