Iceland

Has anyone else been following what’s been happening in Iceland?

The whole thing reads like a cautionary tale for the U.S. which unfortunately occurred too late for anyone here to draw any lessons from it. Aside from the fact that the dollar can’t (because of its greater importance to world markets) be let collapse quite as far as the krona, I’m afraid we’re on a course to follow Iceland down the path to economic disaster. 15% inflation here we come.



1 comment

  1. Elana:

    I have. It’s insane.


    (October 29th, 2008 at 12:20 pm)
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