The Icelandic Sean Hannity is Agnes Bragadóttir of Morgunbladid. Like Fox News, Morgunbladid has been the beacon of right-wing politics. Its previous editors lasted decades in their job, never investigating, never disclosing, never questioning the powers that were, if they were right-wing and Independent Party. This looks like changing with a new editor who is [...]

[youtube=http://uk.youtube.com/watch?v=20NFcc1M35A] ————————————————– It was probably the clearest poll ever published. Yesterday Channel 2 disclosed that 90% are against David Oddson keeping his seat as Central Bank Governor. Oddson was asked whether he considered resigning which he denied and then proceded to ask the reporter whether she had considered resigning. This explains a lot, we don’t [...]

The Icelandic government is giving the Bush administration a run for its money in the bad crisis-management category. Its now been three weeks since the economy hit the fan and the government has become specialists in one thing only, giving interviews and press conferences that don’t tell its citizens anything. Today the Central Bank hiked [...]

Young people did not cause the economic disaster but they will pay for it. Those who are around thirty today and have bought a home have either taken 70-80% loans that carry price indexation or in a different currency. Price indexation is great for the loan-provider, either a bank or the Housing Financing Fund. But [...]

David Oddson used to be prime minister with Geir Haarde the current prime minister as financial minister representing the Independent Party where Kjartan Gunnarsson used to be the CEO and the party’s representative on the board of the nationalized Landsbankinn which was privatized to the lowest bidder Bjorgolfur Gudmundsson a member of the Independent Party [...]

Iceland is not an independent country. Yesterday the country agreed to a 2 billion USD loan with the IMF so that the banking system can be restarted. It is estimated that we need at least 4 billion more which will hopefully come from friendly nations. The future implications are bleak. Ten percent regression in the [...]