Home › Forums › Financial Markets/Economics › Great Article in Vanity Fair by Michael Lewis on Iceland’s amazing bubble
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patientrenter.
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March 3, 2009 at 8:29 PM #15216March 3, 2009 at 9:24 PM #359747
patb
ParticipantOMG
THis is the most amazing article i’ve ever seen.
I really want to go to iceland just to see
what the future holds.
I think i may have to bring yen or something
to pay for everything, i bet you could
arbitrage hotel rooms or something to
pay for the visit.Seriously i stopped in iceland back in 1994 and
it was rock and stone. But i read a piece
in the Wall Street Journal pointing out
that Iceland was holding monster truck
rallies, people in iceland were spending fortunes on monster trucks and i started
wondering what happened there.
Now I Know. 🙁Well with all that energy to spare,
they should go into manufacturing radio nuclides and high energy chemicals.
Anything that demands intensive
energy inputs, such as ammonia
manufacture.March 3, 2009 at 9:24 PM #360051ParticipantOMG
THis is the most amazing article i’ve ever seen.
I really want to go to iceland just to see
what the future holds.
I think i may have to bring yen or something
to pay for everything, i bet you could
arbitrage hotel rooms or something to
pay for the visit.Seriously i stopped in iceland back in 1994 and
it was rock and stone. But i read a piece
in the Wall Street Journal pointing out
that Iceland was holding monster truck
rallies, people in iceland were spending fortunes on monster trucks and i started
wondering what happened there.
Now I Know. 🙁Well with all that energy to spare,
they should go into manufacturing radio nuclides and high energy chemicals.
Anything that demands intensive
energy inputs, such as ammonia
manufacture.March 3, 2009 at 9:24 PM #360192ParticipantOMG
THis is the most amazing article i’ve ever seen.
I really want to go to iceland just to see
what the future holds.
I think i may have to bring yen or something
to pay for everything, i bet you could
arbitrage hotel rooms or something to
pay for the visit.Seriously i stopped in iceland back in 1994 and
it was rock and stone. But i read a piece
in the Wall Street Journal pointing out
that Iceland was holding monster truck
rallies, people in iceland were spending fortunes on monster trucks and i started
wondering what happened there.
Now I Know. 🙁Well with all that energy to spare,
they should go into manufacturing radio nuclides and high energy chemicals.
Anything that demands intensive
energy inputs, such as ammonia
manufacture.March 3, 2009 at 9:24 PM #360230ParticipantOMG
THis is the most amazing article i’ve ever seen.
I really want to go to iceland just to see
what the future holds.
I think i may have to bring yen or something
to pay for everything, i bet you could
arbitrage hotel rooms or something to
pay for the visit.Seriously i stopped in iceland back in 1994 and
it was rock and stone. But i read a piece
in the Wall Street Journal pointing out
that Iceland was holding monster truck
rallies, people in iceland were spending fortunes on monster trucks and i started
wondering what happened there.
Now I Know. 🙁Well with all that energy to spare,
they should go into manufacturing radio nuclides and high energy chemicals.
Anything that demands intensive
energy inputs, such as ammonia
manufacture.March 3, 2009 at 9:24 PM #360336ParticipantOMG
THis is the most amazing article i’ve ever seen.
I really want to go to iceland just to see
what the future holds.
I think i may have to bring yen or something
to pay for everything, i bet you could
arbitrage hotel rooms or something to
pay for the visit.Seriously i stopped in iceland back in 1994 and
it was rock and stone. But i read a piece
in the Wall Street Journal pointing out
that Iceland was holding monster truck
rallies, people in iceland were spending fortunes on monster trucks and i started
wondering what happened there.
Now I Know. 🙁Well with all that energy to spare,
they should go into manufacturing radio nuclides and high energy chemicals.
Anything that demands intensive
energy inputs, such as ammonia
manufacture.March 4, 2009 at 5:08 PM #360694blahblahblah
ParticipantThe Central Bank of Iceland is a case in point. Almost certainly Iceland will adopt the euro as its currency, and the krona will cease to exist. Without it there is no need for a central bank to maintain the stability of the local currency and control interest rates. Inside the place stews David Oddsson, the architect of Iceland’s rise and fall. Back in the 1980s, Oddsson had fallen under the spell of Milton Friedman, the brilliant economist who was able to persuade even those who spent their lives working for the government that government was a waste of life.
Ahhh yes, whenever you find a ruined economy, there’s always a link to old Uncle Miltie and his great theories. I like how the author of this article refers to him as “brilliant” even though his Chicago School of economics has helped wreck country after country while making a very select few extremely rich. Maybe he is “brilliant” if you’re one of those lucky few…
March 4, 2009 at 5:08 PM #360804ParticipantThe Central Bank of Iceland is a case in point. Almost certainly Iceland will adopt the euro as its currency, and the krona will cease to exist. Without it there is no need for a central bank to maintain the stability of the local currency and control interest rates. Inside the place stews David Oddsson, the architect of Iceland’s rise and fall. Back in the 1980s, Oddsson had fallen under the spell of Milton Friedman, the brilliant economist who was able to persuade even those who spent their lives working for the government that government was a waste of life.
Ahhh yes, whenever you find a ruined economy, there’s always a link to old Uncle Miltie and his great theories. I like how the author of this article refers to him as “brilliant” even though his Chicago School of economics has helped wreck country after country while making a very select few extremely rich. Maybe he is “brilliant” if you’re one of those lucky few…
March 4, 2009 at 5:08 PM #360658ParticipantThe Central Bank of Iceland is a case in point. Almost certainly Iceland will adopt the euro as its currency, and the krona will cease to exist. Without it there is no need for a central bank to maintain the stability of the local currency and control interest rates. Inside the place stews David Oddsson, the architect of Iceland’s rise and fall. Back in the 1980s, Oddsson had fallen under the spell of Milton Friedman, the brilliant economist who was able to persuade even those who spent their lives working for the government that government was a waste of life.
Ahhh yes, whenever you find a ruined economy, there’s always a link to old Uncle Miltie and his great theories. I like how the author of this article refers to him as “brilliant” even though his Chicago School of economics has helped wreck country after country while making a very select few extremely rich. Maybe he is “brilliant” if you’re one of those lucky few…
March 4, 2009 at 5:08 PM #360513ParticipantThe Central Bank of Iceland is a case in point. Almost certainly Iceland will adopt the euro as its currency, and the krona will cease to exist. Without it there is no need for a central bank to maintain the stability of the local currency and control interest rates. Inside the place stews David Oddsson, the architect of Iceland’s rise and fall. Back in the 1980s, Oddsson had fallen under the spell of Milton Friedman, the brilliant economist who was able to persuade even those who spent their lives working for the government that government was a waste of life.
Ahhh yes, whenever you find a ruined economy, there’s always a link to old Uncle Miltie and his great theories. I like how the author of this article refers to him as “brilliant” even though his Chicago School of economics has helped wreck country after country while making a very select few extremely rich. Maybe he is “brilliant” if you’re one of those lucky few…
March 4, 2009 at 5:08 PM #360208ParticipantThe Central Bank of Iceland is a case in point. Almost certainly Iceland will adopt the euro as its currency, and the krona will cease to exist. Without it there is no need for a central bank to maintain the stability of the local currency and control interest rates. Inside the place stews David Oddsson, the architect of Iceland’s rise and fall. Back in the 1980s, Oddsson had fallen under the spell of Milton Friedman, the brilliant economist who was able to persuade even those who spent their lives working for the government that government was a waste of life.
Ahhh yes, whenever you find a ruined economy, there’s always a link to old Uncle Miltie and his great theories. I like how the author of this article refers to him as “brilliant” even though his Chicago School of economics has helped wreck country after country while making a very select few extremely rich. Maybe he is “brilliant” if you’re one of those lucky few…
March 4, 2009 at 5:21 PM #360829patientrenter
ParticipantCONCHO, I don’t know much about Milton Friedman’s work (apart from third-hand unrepresentative excerpts used by people with a political ax to grind on the left or right). Did he teach that unlimited expansion of the money supply (credit) was a good thing? Or that it was good to suppress interest rates as low as possible to encourage people to borrow liberally? If so, Barney Frank must be a Milton Friedman disciple. That’s not what I thought, but I don’t know as much as you.
March 4, 2009 at 5:21 PM #360538ParticipantCONCHO, I don’t know much about Milton Friedman’s work (apart from third-hand unrepresentative excerpts used by people with a political ax to grind on the left or right). Did he teach that unlimited expansion of the money supply (credit) was a good thing? Or that it was good to suppress interest rates as low as possible to encourage people to borrow liberally? If so, Barney Frank must be a Milton Friedman disciple. That’s not what I thought, but I don’t know as much as you.
March 4, 2009 at 5:21 PM #360719ParticipantCONCHO, I don’t know much about Milton Friedman’s work (apart from third-hand unrepresentative excerpts used by people with a political ax to grind on the left or right). Did he teach that unlimited expansion of the money supply (credit) was a good thing? Or that it was good to suppress interest rates as low as possible to encourage people to borrow liberally? If so, Barney Frank must be a Milton Friedman disciple. That’s not what I thought, but I don’t know as much as you.
March 4, 2009 at 5:21 PM #360233ParticipantCONCHO, I don’t know much about Milton Friedman’s work (apart from third-hand unrepresentative excerpts used by people with a political ax to grind on the left or right). Did he teach that unlimited expansion of the money supply (credit) was a good thing? Or that it was good to suppress interest rates as low as possible to encourage people to borrow liberally? If so, Barney Frank must be a Milton Friedman disciple. That’s not what I thought, but I don’t know as much as you.
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