Stunned Icelanders Struggle After Economy’s Fall nytimes-europe
Overnight, people lost their savings. Prices are soaring. Once-crowded restaurants are almost empty. Banks are rationing foreign currency, and companies are finding it dauntingly difficult to do business abroad. Inflation is at 16 percent and rising. People have stopped traveling overseas. The local currency, the krona, was 65 to the dollar a year ago; now it is 130. Companies are slashing salaries, reducing workers’ hours and, in some instances, embarking on mass layoffs.
Overnight, people lost their savings. Prices are soaring. Once-crowded restaurants are almost empty. Banks are rationing foreign currency, and companies are finding it dauntingly difficult to do business abroad. Inflation is at 16 percent and rising. People have stopped traveling overseas. The local currency, the krona, was 65 to the dollar a year ago; now it is 130. Companies are slashing salaries, reducing workers’ hours and, in some instances, embarking on mass layoffs.
But if the events of last month — the failure of Iceland’s banks; the plummeting of its currency; the first wave of layoffs; the loss of reputation abroad — felt like a bad dream, Iceland has now awakened to find that it is all coming true.
“No country has ever crashed as quickly and as badly in peacetime,” said Jon Danielsson, an economist with the London School of Economics.
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Related article: "Tiny, isolated Iceland might have been the first to fall, but that also may make it the first to re-evaluate day-to-day life in the darkening world of frozen credit."
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re: "...it is all coming true"
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Related article: "Tiny, isolated Iceland might have been the first to fall, but that also may make it the first to re-evaluate day-to-day life in the darkening world of frozen credit."
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re: "...it is all coming true"
update on Iceland Internet Bank Chaos Has Chilling Effect 10-7-08: "This will not be an isolated incident. If it works once it will work again. They, the 'global consolidators', are going for the kill."
This is a perfect example of the 'deconstruction' of a sovereign nation. Once again, before the new order of the ages, the novus ordo seclorum, can rise to power, the old order of 'this age' must be deconstructed. Destroyed is actually a much more accurate description of the modus operandi. Ordo ab chao style.
"Crashed" according to the 'expert' economist from London. And for Icelanders it happened virtually overnight. The shock is wearing off now and the harsh reality is setting in...their world has been permanently turned upside down. Brutally absorbed by the NWO.
The news is not good. The self-proclaimed would-be global 'demigods' have the same brutal absorption planned for all people in all countries. They, Tony Blair being one of 'they', like to call it 'transformation'. see especially: America: They're Shutting It Down
also: Blair Calls For Worldwide 'Radical Transformative Change'
Obama is a 'transformer' too: The Global Script
It will be a wrenching transformation.
Obama is a 'transformer' too: The Global Script
It will be a wrenching transformation.
follow links (there are many), connect dots...lots to know
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1 Thes. 5:8-9 But let us, who are of the day, be sober, putting on the breastplate of faith and love; and for a helmet, the hope of salvation. For God hath not appointed us to wrath, but to obtain salvation by our Lord Jesus Christ"
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