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Iceland says coalition government collapses

REYKJAVIK, Iceland - Iceland's coalition government collapsed Monday, leaving the island nation in political turmoil amid a financial crisis that has pummeled its economy and required an international bailout.

Prime Minister Geir Haarde said he was unwilling to meet the demands of his coalition partners, the Social Democratic Alliance Party, which insisted upon getting the post of prime minister to keep the coalition intact.

Read the rest of the story here. http://www.msnbc.msn.com/id/28854529

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This is going to be a baaaaad year.

"We can see with our eyes, hear with our ears and feel with our touch, but we understand with our hearts."

This is headed to our neck of the woods.

Give Me Freedom

If Tyranny And Oppression Come To This Land, It Will Be In The
Guise Of Fighting A Foreign Enemy. James Madison

Give Me Freedom

If Tyranny And Oppression Come To This Land, It Will Be In The
Guise Of Fighting A Foreign Enemy. James Madison

If We Have Racism We Will Not Have Freedom.
If We Have No Racism We Can Have Freedom

As bad as it may get here,

As bad as it may get here, it won't be like Iceland. That place was uniquely bubble exposed. Essentially, you have an entire population who will have to adjust from sitting around in beautiful new bank buildings, making some of the worlds highest salaries; to working long, backbreaking hours on small fishboats in the North Atlantic. Or, at best, working outside, wrenching heavy metal pipe in an effort to build a geothermal energy infrastructure. For anyone under 40 used to 'financial center' city life, this will take some serious adjustment, that's for sure.

The closest we may come here will be ex $500,000+/yr Real Estate/Mortgage brokers and New York traders adjusting to making $15/hr on a crew building the great Obama highway somewhere in the scorching Arizona sun. But for the vast number of Americans, the adjustment will be less severe, though still painful.

As for other Icelands, the UK and Ireland are more likely candidates to follow along that route. And possibly, to some extent Switzerland, although my feeling is their strong banking privacy laws will allow more people to retain more of their savings even in the event of a major run on the SFR. As tied to worthless junk as the big Swiss banks are, I still can't quite bring myself to bet against those machine gun toting Alpendwellers.

Of course, to put things in perspective, we're still talking Europe here. As bad as it might get for some, at least they weren't born in Zimbabwe, Bangladesh or North Korea.

It will be much different here

Their police don't even carry firearms or stun guns, only mace. They were able to demonstrate, both peacefully and violently, and accomplished at least one thing: the ousting of a government that deserved to be ousted.

I don't need to tell you the reason why it won't go nearly that way in this country.


Correction, there are guns

Correction, there are guns available to the police officers in Iceland via their Special Forces called Víkingasveitin (The Viking Squadron)

Any police agency with the word Viking in their name

has gotta be okay in my book. :-)
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Know a couple of them

Know a couple of them personally, they are good guys, just pointing out that the coppers have atleast some access to guns. The populous has guns aswell, just hunting rifles and shotguns. And it's expensive as hell to own unless you are a farmer.