We’ve talked about the mysterious company Stim ltd. previously. Now the man behind the company, Jakob Valgeir Flosason has revealed the dark materials of the business of Stim.  Glitnir bank itself was the largest shareholder in Stim, so the whole thing was set up to fool the market. The Stock Exchange never received any notifications [...]

This April the MacBook Air arrived in Iceland and retailed from 189.990 ISK. The krona dropped the next week and a couple of weeks later you were paying 219.990 ISK for the same computer. Today, it will set you back 269.990 ISK. And that is the beauty of the ISK for the Icelandic economy, you [...]

Tomorrow should be exciting. How many will turn up at the downtown demonstration? The last couple of months have been about shock. People have been stunned and are trying to asess the situation. Now we are beginning to see the start of polarizing. In media, blogs and on the street, people are getting fired up against [...]

After 17 years of David Oddson’s Independent Party, governed by the ideology of Milton Friedman in the worshipping version of local political pet Hannes Holmsteinn Gissurarson, we now have this: Parliament last night agreed without opposition to place strict restrictions on trade in currency. Icelanders will have a harder time purchasing foreign currencies and Icelandic [...]

The state broadcasting company is slashing its budget and cutting out 20-30 of its employees. In downturns, economists often talk about “assimilation”, “adjustments”. So we will see how many people will be adjusted out of their jobs around this weekend.

I just flew Icelandair, where there was a solo passenger in the business class section, the rest half full. He was probably a government official or a foreigner. I purchased GBP for 214 ISK per pound. I think it might be a good deal, considering that the IMF loan is supposed to arrive soon and [...]

[youtube=http://www.youtube.com/watch?v=UQcbFqUL4F8]

…is seventeen percent. That would mean that if you have a price-indexed home loan at 20 million ISK last year, then it would now be 23.4 million ISK. So remind us again why haven’t other countries seen the beauty of the price-indexed loans? It was revealed the other day that Geir Haarde is one of [...]

You cannot help but agree with Orn Smari, a blogger at Eyjan.is who said their biggest feat yet was to get Icelanders out of their chairs to go demonstrate.

[youtube=http://www.youtube.com/watch?v=cy-fD78zyvI&feature=PlayList&p=33461BA31C176F00&index=0] [youtube=http://www.youtube.com/watch?v=hfXavRTM4Fg&feature=PlayList&p=33461BA31C176F00&index=1] [youtube=http://www.youtube.com/watch?v=_yvRZoM-2r8&feature=PlayList&p=33461BA31C176F00&index=2] [youtube=http://www.youtube.com/watch?v=f0p8LepIuVM&feature=PlayList&p=33461BA31C176F00&index=3] [youtube=http://www.youtube.com/watch?v=PzXZ_Hs1g6U&feature=PlayList&p=33461BA31C176F00&index=4]