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 [...]

So I promised I’d explain the reason why the government’s current “solutions” for the household debt in Iceland are useless. A regular reader to this site, Vilhjalm A. has pointed out the unique situation home-owners in Iceland are facing because of the consumer price indexation attached to all mortgages in ISK: An unnormal country In normal countries [...]

Where would the Icelandic banks be without the Icelandic taxpayers? Maybe having to renegotiate with their customers like BoA. I had a run in with one of the government’s chief advisers on the household debt issue. He told the truth, plain and simple and I don’t know why Arni Pall Arnason doesn’t just come out and say [...]

“Organizations are like cesspools. The largest bits float to the top” I cannot remember whose quote that is but it is unfortunately a fitting description of the way things work in Icelandic political parties. Extraordinary people don’t stand a chance against the rush towards mediocrity, sameness and playing along. As a consequence we are now [...]

I went to see the new Star Trek movie on Saturday. It was very good and succeeded in making you think about what the future holds.  Then I was sitting in a British Airways flight waiting to take off from London Gatwick airport and I beheld this sight on the picture on the left that [...]