Ukraine, Poland , Belarus all also raised interest rates....And a regular shithole apartment in Kiev for example is selling still for 150K for a 2 bedroom on the 9th floor 'In 2000 sold for 14,000" And whats odd is people here make only 700 USD a month??Go figure talk about a bubble on real estate...And they just raise interest rates.
I have a freind in Kiev bought a flat in 2004 for 100K ....has a 20 year loan said when he is done he will pay 310K for this shit..Slave ones entire life to buy a dumpy apartment..go figure..i expect as prices drop in Eastern Europe we will also expericance a a sort of sub prime meltdown as people in the scores default on their shitting overpriced Old Soviet apartment

Well the party is over in Iceland..Should we have sympathy? They went out on a credit binge buying exotic foods, homes, vacations, booze ect for the past decade..instead of preparing and now they overextended themselves..Kind of like the Prodical Son.
Well now they can powerdown and get use to hardtimes..Hell most Europeans up until 1900 live pretty hard lives..
Next move on....I have more to worry about then a Drunk State "Iceland" that spent all their money on booze..and now want more via a 5 billion loan via IMF-Russia ect...to keep the booze comming......I for one wont give a drunk bum 20 bucks nor will I donate to overconsumered Icelandic folk..My 20 dollars will go for a 1 oz silver bar to help myself...See I prepare...those in iceland had a nice good decade to prepare...Have fun..you made your bed..now lie in it.

Interesting level of support for one of our first-world neighbours. Iceland, when last I looked, was full of normal people; mums, dads, children. Same as the rest of us, really. Odd attitude you have here...

JP

I wonder if this is what's in store for America?


http://www.ft.com/cms/s/0/66c87994-aec1 ... ck_check=1

Unlikely so long as our debt is in a currency issued by our government.

Icelanders are getting fed up, with having nothing. http://news.bbc.co.uk/2/hi/europe/7744355.stm

Moved to Open Forum. The Current Events forum is for Discussions on energy-related breaking news.-FL

They (and we) better start to get used to "having nothing".

does this mean i win the, which city is going to riot first poll? i called reykjavik! where's my cookie?

This has value from the point of view of establishing a timeline. Took a little over a month from the financial collapse until the protests started.

Whither Iceland from here though? One has to figure this is not the end. Its not even the beginning of the end. It might be the end of the beginning though. Thank you, Winston Churchill

Reverse Engineer

Almost every revolution or rebellion in history starts with empty food shelves, no roof over their head, hungry kids. This could very well be happening in N. American cities before too long.

[flash width=320 height=240]http://www.youtube.com/watch/v/_f0GVK6wzfQ[/flash]
[flash width=320 height=240]http://www.youtube.com/watch/v/7yHYOAG9RCk[/flash]
[flash width=320 height=240]http://www.youtube.com/watch/v/XyS-bOuCjec[/flash]
[flash width=320 height=240]http://www.youtube.com/watch/v/I8gdhatmZtw[/flash]

The bike thing is downright stupid, wasting oil like that...

Yeah, some molotov coctails wasted....

Most people in Iceland live in just one relatively small city...Reykjavik, the capital.

Thats makes this kind of protest particularly effective there.

A lot of red staters voted for Obama. That's already a revolution in itself.