Be like Iceland.
Wednesday, 12 Mar 2025
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And still top 10 in GDP per capita. Iceland fucks.
They hiring in Iceland…? Asking for a friend.
No more oligarchs
This needs to be shared on all social media now. X, fb, whatever.
Interesting. This was new for me
The also have the worlds best hotdogs, and scenery!
It’s a lovely story, and I wish it was unfolded the way OP described it, but it has been debunked.
Yes, it’s true that the 3 biggest banks went under, and it’s also true that the economy recovered, but it took a few years of hardship.
This has been posted before on this sub and it proven false
Murica should take notes
I wish, Iceland is pretty much a banana republic with high level of corruption. When the crash happened prices of everything soared and the loans people had got unpayable. Those same banks then bought up most of the houses on pennies for the dollar and sat on them to keep the prices high. The interest is also really high in Iceland and most loans that don’t have two digit interest are indexed.. basically hidden interest on the interest so loans just go up.
People out here heavily upvoting lies on superstonk again
Iceland is an ethnically homogeneous nation, with a total population less than than that of Tulsa, Oklahoma. Being like Iceland is not even remotely possible, at least in the U.S.
but didn’t they think of how iceland will drive away all the banks by going after them??? 🙁 🙁 🙁 [oh wait](https://thebanks.eu/banks-by-country/Iceland)…
Justice?
Democracy?
In the land of the “free”?
Gotta pay tribute to the billionaire class first, then maybe they’ll think about your rights. Iceland has Viking culture in it’s veins they don’t fuck around, even their alphabet is violent. Half of America has diabetes and brain rot, theyd rather live vicariously through rich tv people than help solve our collective problems.
This works when you’re a small economy. They’re basically a tourism country.
🏴☠️ Skál! 🍻
This is a decade old Facebook meme.
Ran by women
[Panama](https://www.youtube.com/watch?v=fuKDBPw8wQA)
That’s un-American!
Yea this sounds nice but also, its a whole different country with a tiny population. 400k.
85% are Icelandic, and 70% are Christian. They all lean a certain way.
San Francisco has double that population, melting pot of 4 different cultures. White, Black, Latino, and Asian. A shitload of religious sects.
Its just not the same…
Pots and Pans Revolution of 2009.
https://youtu.be/X35R_3ZN-t8?feature=shared
Iceland gov didn’t willingly do all that, the people put together a reform party to put all that in place. It was a hard fought battle between the people and government/finance.
They let the banks fail because they literally couldn’t pay back all the overleveraged debt from the US 2008 financial crisis that spread. The citizens were strapped with so much debt it crippled the economy and unemployment went to over 50%.
When unemployment hit 50%+ people started to push back.
The Unfair Trade by Michael J Casey touches on the subject and ties it to a lot of other inner workings of the 2008 financial crisis
One of my favorite excerpts from the book.
https://www.reddit.com/r/Superstonk/s/6Nk3UM6eSR
They didn’t fuck around in Mighty Ducks 2 either
USA too greedy
Banksters have always been villains
This is about 200x times more complicated then the post implies…. and the comments aren’t helping
Banksters is officially the best portmanteau I’ve ever heard.
Iceland set up a very lenient banking system in the early 2000. Some saving accounts had 8-10% interest. The system got access to the EU retail market, as Icelandic banking system promised to join the solidarity system.
Billions of personal savings money poured into the Icelandic economy, heating it up to a frenzy. You don’t build [this shit](https://en.wikipedia.org/wiki/Harpa_(concert_hall)) with cod fishing.
When the Icelandic banks collapsed, thousands of UK and NL savers lost access to their money. Icelandic govt refused to hand it back/ insure it (Icelandic govt simply did not have the money).
Iceland basically kept the savings of thousands of Dutch and UK citizens and used that to safeguard their savers. Iceland still has all the riches they gained from the bank frenzy.
Don’t be like Iceland. It fucked its friends.
looks like iceland is too small and not being overtaken by terminal capitalism
I don’t know how real that is but I’ve read Icelanders say that it was all show at the time… I could likely be wrong
Iceland kills whales. 🐳
That’s what happens when you cure the decease instead of only treating the symptoms.
Close, but nobody should be bailed out
After promising to stop whale hunting after 2023, they also just continued this year.
There are no good or bad guys. Life is grey.
I remember the Icelandic monopoly set joke after the banks shat themselves. Now here I am in a pretty stagnant economy lol
🙌🏻🙌🏻🙌🏻
I think most people have a bit of a romanticised image of Iceland.