Times are tough all over

[Kitsune]

I'm not able to check through this entire thread, but has anyone mentioned Iceland's woes?

The beleaguered Icelandic stock exchange plummeted by 77 per cent yesterday, following a three-day suspension of trading.

The OMX Iceland 15 Index fell by 2,326.2 to 678.4 - the lowest since April 1996. The fall in shares contrasted sharply with a strong performance by European and Asian shares for the second consecutive day. The Icelandic index has lost 89 per cent of its value this year, making it the worst performing stock exchange globally.

That just can't be good for those people.

What it is like to live on the edge of it: here and here.

A few months ago it costed me 64 ISK to buy one dollar. Last night, it was 127 ISK for one dollar. That means all imports like gasoline, cocoa puffs, Pampers and other necessities are sky rocketing. The stock market has collapsed and it looks like I've lost a big part of my live savings. The future is unknown.

Lots of people have their loans in foreign currency, but income in Icelandic Krona. Those people are in immediate trouble since the loans are much higher now than the house or car they used it to buy - and the payments have doubled.

The world is treating us like we’re dead. Bank accounts frozen. No buziness without cash payments in advance. No currency can be bought. The stock market is closed (not that I have anything left there). Imports have stopped because of closed currency markets and diapers, flour, sugar and other neccesities are selling out in the shops.

Sad to read. Makes me feel like we're freaking out over nothing in comparison.

[barefoot serpent]

Originally Posted by Kitsune

I'm not able to check through this entire thread, but has anyone mentioned Iceland's woes?

Yes, but Iceland is in the top 5 of the Happiest Countries

Researchers at the University of Michigan said Denmark's prosperity, stability and democratic government placed the country at the top of the rankings, with Colombia, Canada, Puerto Rico and Iceland all in the top 5.

[dar512]

Originally Posted by barefoot serpent

Yes, but Iceland is in the top 5 of the Happiest Countries

Are those polls recent? I suspect that should be past tense since they got run over by the world economy.

[barefoot serpent]

Originally Posted by dar512

Are those polls recent? I suspect that should be past tense since they got run over by the world economy.

Just 3 months ago. BTW Zimbabwe was last with it's 4-digit inflation rate. It's gonna get crowded down there -- and I don't mean the Southern Hemisphere.

[dar512]

Originally Posted by barefoot serpent

Just 3 months ago.

I bet they'd be different now.