
Iceland after the fall - terpua
http://www.slate.com/id/2207350/entry/0
======
bprater
I think Iceland is a great study of what may occur here.

For those of us that are young and in the US or Europe, you and I have never
endured a great failing of the system. Our brains can't contemplate "it"
happening. But the reality is -- it can, and is, happening now in Iceland.

Icelandic folks were riding very high until the tightly wound kronas started
to unfurl, and I'm guessing many are still in shock and denial. Eventually, it
gives way to anger, which is what we see now with the protests.

Prepare for the worst folks, keep hoping for the best. But don't live in a
state of denial, it'll only serve to hurt you.

~~~
hapless
The best lesson to draw is that Iceland is still there. Their national bank,
their currency, and their financial sector failed in the most dramatic way
possible.

Most people still have their jobs. There are no breadlines. The world didn't
end. Everything is more or less OK in Iceland. It's not a pretty picture, but
no one could expect it to be so.

~~~
mynameishere
Iceland was bailed out. That can't happen with the US.

~~~
ojbyrne
Why not?

~~~
mynameishere
Because it would be like bailing out 1000 Icelands.

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pchristensen
Part 2 is out today:
<http://www.slate.com/id/2207350/entry/2207352/pagenum/all>

------
jderick
Slate: so much potential, so little follow through.

~~~
andyking
With it having "1" in the title bar, I was expecting a second page. Instead,
it just sort of... ended abruptly. I was hoping for more.

~~~
pchristensen
It's part of a series that gets published over a week. #2 is up now.
<http://www.slate.com/id/2207350/entry/2207352/pagenum/all>

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michaelneale
What is also interesting (mentioned in the article) is that Iceland generates
their own power from renewable sources (presumably mostly their own geothermal
sources). I guess that still leaves oil for the vehicles, but it could be
interesting if they move towards energy independence for financial reasons.

------
chwolfe
Christ. I read the title as "Iceland after the fail". I need to take a break
from the internets.

