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Iceland Update

Recs

7

December 09, 2008 – Comments (0)

Lessons from Iceland should be known, whether you believe the US can or will fall under the same circumstance or not.

Iceland was under a Kenysian "wealth bubble" that popped, unable to borrow anymore, the banks raised rates to 15%, but the country and the banks still went under. Now they are becoming a nation of beggers. 

 

I still have Top Score here in CAPS. I received the Top Fool Ribon on 21 Nov 08 [abitarePERFECT].

What am I investing in?

A portion of my investment money goes to Food and other things that will hold out in an Iceland scenerio. Iceland depended on Europe and the US to borrow. The US depends on Asians. If you think Europe has been harsh on Iceland, how do you think the Maoist leading China will treat the US in its' continued need to borrow?

I do not think the US will fall like Iceland. But I do think we will have at some point price control, rationing and far more restrictive controls going forward.  

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