Apparently Iceland is on the market for interested investors:
is on the brink of collapse. Inflation and interest rates are raging upwards. The krona, Iceland Iceland's currency, is in freefall and is rated just above those of Zimbabweand . One of the country's three independent banks has been nationalised, another is asking customers for money, and the discredited government and officials from the central bank have been huddled behind closed doors for three days with still no sign of a plan. International banks won't send any more money and supplies of foreign currency are running out. Turkmenistan
The slump in the krona will probably send the inflation rate as high as 20 percent, compared with the central bank's target of 2.5 percent, Siegenthaler said. Consumer prices rose an annual 14 percent in September.
And this is a real killer because while a recession reduces your current earning power, Hyper-Inflation eats away what you have already earned and saved. Often times what goes up eventually must come down:
The nation's celebrated rags-to-riches story began in the Nineties when free market reforms, fish quota cash and a stock market based on stable pension funds allowed Icelandic entrepreneurs to go out and sweep up international credit.
Anyone want to buy
I suppose it would only take a prankster to whisper into First Comrade George Bush’s ear that there is OIL for the taking in
It could be Comrade Bush’s legacy other than that whole Iraq business.