Are you confused as to why the Independence Party is now topping the polls with 40,3% and adding 11 new members of Althingi if the vote were today? Don’t be. Voters are illogical, as is evident by this excellent summary from an article in Time. They would even vote for the party which caused the biggest [...]

Because of time limitations (only 24 hours in the day) I am very grateful to Vilhjalm A. and Gandri for putting down in words exactly what I have been pondering about what Johanna Sigurdardottir calls the “definite solution to finally meet the required needs of Icelandic households”. From Vilhjalm A. (translations mine ): Finally the government [...]

How are they trying to cook this up? The banks are now agitating for re installing bonus systems for the employees of their private banking and corporate banking divisions. Now it is great if bonus systems are available for employees, but when implementing those some basic questions must be answered. What are we rewarding? Remember, these are the [...]

The minister of social affairs now wants to write off car loans which are overextended down to 110% of the market value of the car. A big relief for those who have seen their loans double, but a major folly. Yesterday I heard a Social Democrat explain how the Independence Party majority in Reykjavik’s city council was [...]

The Icelandic government’s economic advisor Tryggvi Thor Herbertsson, on a leave from his post as CEO of Askar Capital Investment Bank and two years after his whitewash report on the Icelandic economy with Columbia professor Mishkin, with some interesting promises to the BBC on October 4, 2008. What happened next? The Independence Party’s voters elected Tryggvi [...]

Bjorgolfur Thor is no longer on the Forbes billionaire list. And Hannes Smarason of FL Group fame personal debts to Landsbankinn amount to half the IceSave amount owed to the Brits and the Dutch according to the latest calculations. Of course without proper collateral or what?

Through elaborate twists and turns Catharine Zeta-Jones had to risk her life in a break in to get her hands on the jewels she coveted in Entrapment. But if you happen to own or control a business which has been bankrupted in Iceland in the last couple of years, the way back to 2007 is made [...]

It is self explanatory that there is not much sympathy worldwide for a country which first behaved irresponsibly and then tried to export its problems to other countries. Like other countries which have run their economies into the ground – including Greece as a good example -  Iceland must take responsibility for itself. So even if [...]

“I think what is happening in Iceland proves that our own currency is very beneficial to our needs. You don’t have to go far back to see that the currency developments have increased the competitiveness of Icelandic businesses and industries”. - Steingrimur J. Sigfusson, Finance Minister of Iceland two years after an economic collapse all [...]

The party which got Icelandic society into this mess could just hold the keys to make things right. It is quite a bit strange to hear people say that they would still vote for the Independence Party today, even after its Icarian flight of the past two decades and its nepotistic distribution of the wealth of [...]