A friend and I were talking yesterday about the possibility of large numbers of households losing their homes and Bjorgolfur Thor, Bjarni Armannsson, Robert Wessman and their like buying them at a bargain, then renting them back to the same people.
I predicted a riot. Collapse of society.
He had a different take on the matter. “I don’t think it will matter. Icelanders are so used to being taken from behind that getting one more big one stuck there the sun don’t shine won’t matter at all. You could stick a couple more and as long as we’d have a flat screen TV and access to latte’s we wouldn’t move at all.”
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Blubber
2 years ago
Yes, you friend is right, but there will also be a surge in petty financial crimes, tax evasion, fraud and the like. There is no longer a social contract in place, no moral obligation to be honest about money.