Since the ISK was floated last week it has strenghtened considerably thanks to the artificial market created by the East German, sorry Icelandic government and Central Bank. The media celebrates the fact that those who hold currency debts are seeing their loans decline. Others have likened the current situation to peeing your pants to keep [...]

Of 2.500 people recently polled 65.5% say they do not support the government. If I were a part of Geir Haarde´s and Ingibjorg Solrun´s team of advisors I would focus on the fact that 65.5% of 2.500 people are only 1.637 people. Therefore this can hardly be said to represent the will of the people [...]

Icelanders have reduced their foreign travel by 60% between years. Last year I could buy an airline ticket to Glasgow for 23.900 ISK. Now there is no chance of getting one under 46.900 ISK. A meal that cost under 2.000 ISK a year ago is now around 4.000 ISK.

Economists, especially those in analytics like to talk about things “adapting to normal” when markets are receding. So how much of an adaptation was the new-car market in Iceland in need of if sales are down 94%?

Jon Danielsson, economist at London School of Economics has said the trade-restrictions of the Icelandic krona are a narrow-minded short term solution. He says the restrictions send the message that the government has no control of the krona and its best option is to look towards East German fiscal policies for solutions.

Even though I didn’t attend the protests downtown yesterday, it doesn’t mean that I don’t want the government to resign. Even though I attended the protest a couple of weeks ago it doesn’t mean that I am a left-wing radical. Even though I haven’t called Geir Haarde personally to tell him I am not happy [...]

I stole this from Hans’s Facebook post. First published in the British humour magazine “Punch” on April 3, 1957: Q: What are banks for? A: To make money. Q: For the customers? A: For the banks. Q: Why doesn’t bank advertising mention this? A: It would not be in good taste. But it is mentioned [...]

A good argument can always be destroyed with nonsense. If you are familiar with the ways the Republican Party has operated under Karl Rove then you’ll have an idea. It maintained that all ideas are created equal and none were worse than others. It allowed them for example to put intelligent design against evolution as [...]

Democracy in the western world has a new fight on its hands. After defeating emperors, dictators and monarchs it now has to rid itself of the tyranny of political parties. It is time for individuals voting for individuals. That could be the Internet’s next great thing.

He had been on the job-market since leaving high-school without a diploma ten years ago. He bought a car in 1998, a small Volkswagen that he drove into the ground nine years later. He was a talented salesman who never had a high-paying job, but on the other hand didn’t have any monthly payments apart [...]