tag:blogger.com,1999:blog-709920428495382013.comments2023-07-14T10:45:59.558+01:00Icelandic EconomicsAnonymoushttp://www.blogger.com/profile/03708780532217726350noreply@blogger.comBlogger100125tag:blogger.com,1999:blog-709920428495382013.post-4345097361498749522015-02-10T12:28:03.687+00:002015-02-10T12:28:03.687+00:00That sort of indexation is illegal in Iceland sinc...That sort of indexation is illegal in Iceland since 2001 (though it did not stop the contracts to be created during the height of the credit party). <a href="http://www.shrinkyourdebt.co.uk" rel="nofollow">Dave</a>Anna Schaferhttps://www.blogger.com/profile/09633259957714692411noreply@blogger.comtag:blogger.com,1999:blog-709920428495382013.post-81582727403951210442014-11-08T19:16:37.752+00:002014-11-08T19:16:37.752+00:00Thanks Olga, glad you like it.
To be clear, I am...Thanks Olga, glad you like it. <br /><br />To be clear, I am referring to real capital investment when I'm suggesting that it might just as well be better, from the investment point of view, to declare that the capital controls are here to stay. Since most real capital investment is "bolted down" the investor is, practically, declaring that s/he will not pull his/her money out of Anonymoushttps://www.blogger.com/profile/03708780532217726350noreply@blogger.comtag:blogger.com,1999:blog-709920428495382013.post-83169135200136916892014-11-08T18:40:32.057+00:002014-11-08T18:40:32.057+00:00TBH, I doubt any investor would dare to invest a p...TBH, I doubt any investor would dare to invest a penny while Icelanders themselves are under pressure from their own government, and can't even pull their money abroad out of the country. The Central Bank states that if an Icelandic citizen wants to take all his resources, s/he has to officially immigrate but not yet be living in another country for the past 6 months - sounds like some sort Anonymoushttps://www.blogger.com/profile/14089411900066082430noreply@blogger.comtag:blogger.com,1999:blog-709920428495382013.post-91405332054006709892014-10-13T19:15:47.600+01:002014-10-13T19:15:47.600+01:00I'm not sure I'm seeing the same problem.
...I'm not sure I'm seeing the same problem.<br /><br />5% inflation over 40 years means that everything -- presumably including housing and wages -- would cost 7 times as much.<br /><br />I would expect that indexing would increase the damage if inflation isn't measured properly (and therefore the incentive to measure it badly), or if wages don't keep up with inflation -- but that JimJJewetthttps://www.blogger.com/profile/01264618304723135340noreply@blogger.comtag:blogger.com,1999:blog-709920428495382013.post-85122173591015011792014-04-04T13:56:52.254+01:002014-04-04T13:56:52.254+01:00Thank you very much for posting this. I've hea...Thank you very much for posting this. I've heard about this before but never had a coherent explanation until now. But (without running the numbers) I have to assume a "traditional" mortgage of, say, 9% would be more appealing than what is currently offered in Iceland. Why have banks, or other private investors, not stepped into the market with alternatives? <br /><br />And I'vebizzuphttps://www.blogger.com/profile/01620167691308425451noreply@blogger.comtag:blogger.com,1999:blog-709920428495382013.post-25031210711561357602014-01-13T13:50:39.343+00:002014-01-13T13:50:39.343+00:00Thanks Mark, looks interesting!Thanks Mark, looks interesting!Anonymoushttps://www.blogger.com/profile/03708780532217726350noreply@blogger.comtag:blogger.com,1999:blog-709920428495382013.post-79429947516731485082014-01-12T12:49:07.374+00:002014-01-12T12:49:07.374+00:00You might be interested in reading about the Israe...You might be interested in reading about the Israeli banking crisis in the 80s:<br />http://en.wikipedia.org/wiki/1983_Israel_bank_stock_crisis<br />There seem to be a few similarities with the Icelandic crisis.Marknoreply@blogger.comtag:blogger.com,1999:blog-709920428495382013.post-5486743441584402782013-12-26T16:33:16.050+00:002013-12-26T16:33:16.050+00:00Apparently Iceland is a good place for mining Bitc...Apparently Iceland is a good place for mining Bitcoins:<br /><br />http://dealbook.nytimes.com/2013/12/21/into-the-bitcoin-mines/<br /><br />Who knows, maybe *this* will jump-start the Icelandic economy!Marknoreply@blogger.comtag:blogger.com,1999:blog-709920428495382013.post-22860411563956551942013-12-06T00:23:56.494+00:002013-12-06T00:23:56.494+00:00What about the first comment from Anonymous on 3 D...What about the first comment from Anonymous on 3 December on the 82bn ISK injection to the asset management funds - have you looked into that?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-709920428495382013.post-68961347668125863642013-12-04T14:34:11.317+00:002013-12-04T14:34:11.317+00:00I should note the source of the column graph, it&#...I should note the source of the column graph, it's from "Allt er betra en íhaldið" Facebook page. Somebody amongst my FB contacts shared it and it ended on my news feed. So the credit for that infographic should go to whom whatsoever posted it there!<br /><br />Is it accurate? Anonymous at 4 December 2013 11:37 has a good point: in 2009 the government passed a law that allowed, Anonymoushttps://www.blogger.com/profile/03708780532217726350noreply@blogger.comtag:blogger.com,1999:blog-709920428495382013.post-50475648499880958972013-12-04T11:37:11.703+00:002013-12-04T11:37:11.703+00:00Um súluritið:
1. Vantar ekki séreignasparnaðinn í ...Um súluritið:<br />1. Vantar ekki séreignasparnaðinn í vinstri hliðina? Fólk fékk líka að taka út séreignasparnað strax eftir hrunið. Hann hlýtur að eiga að vera með báðum megin. En ef ekki, þá er bláa súlan hægramegin of stór. Skuldalækkunin er bara sú skattaívilnun sem felst í aðgerðinni, megnið af 70 milljörðunum er, eins og þú sjálfur segir, bara tilfærsla úr einu sparnaðarformi í annað. <br Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-709920428495382013.post-23516086791630449422013-12-04T01:08:45.175+00:002013-12-04T01:08:45.175+00:00This is just INSANE. I thought I was misunderstan...This is just INSANE. I thought I was misunderstanding, but apparently and horrifyingly not. Next, the pension system -- which as far as I an tell people are supposed to rob in order to pay part of their mortgages???? <br />Anonymoushttps://www.blogger.com/profile/10978855096938946031noreply@blogger.comtag:blogger.com,1999:blog-709920428495382013.post-86396928954166921242013-12-03T15:57:10.407+00:002013-12-03T15:57:10.407+00:00As an English speaker, I understand that the term ...As an English speaker, I understand that the term "debt cancellation" here refers to the forgiving of a part of the mortgage debt owed by Icelandic households. The vast majority of whom will not "give a monkey's" whether the state foots the bill to the lenders or not. Basically, the index-linked increases of the principal amount of our loans has created money out of Where is Kelso?https://www.blogger.com/profile/07046255766892897945noreply@blogger.comtag:blogger.com,1999:blog-709920428495382013.post-46131686943032230612013-12-03T13:53:42.808+00:002013-12-03T13:53:42.808+00:00A misleading terminology. Debt cancellation involv...A misleading terminology. Debt cancellation involves cancellation of dept, i.e. the creditor does not get paid. In this case, a third party, the state is going to pay, weather or not it creates "special revenues" to cover that payment.Anonymoushttps://www.blogger.com/profile/07924971369572917060noreply@blogger.comtag:blogger.com,1999:blog-709920428495382013.post-10973420769872016852013-12-03T10:57:00.846+00:002013-12-03T10:57:00.846+00:00Síðan má ekki gleyma að Íslendingar tóku út 84,5 m...Síðan má ekki gleyma að Íslendingar tóku út 84,5 milljarða út úr séreignasjóðum og eftir skatta eru það 51 milljarður. Spurningin er hversu mikið af þeirri fjárhæð fór í að lækka skuldir heimilanna. Það hlítur að hafa verið umtalsvert.<br /><br />Annað varðandi núverandi aðgerð og lítur að séreignaleiðinni er að með því að hækka framlag launþega úr 2% í 4% mun lækka tekjuskattstofninn úr 94% í 92Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-709920428495382013.post-71372929688804677662013-12-03T09:46:01.204+00:002013-12-03T09:46:01.204+00:00Óli þú gleymir að á meðal sértækra aðgerða eru upp...Óli þú gleymir að á meðal sértækra aðgerða eru uppkaup "nýju" bankanna s á ónýtum pappírum upp úr peningamarkaðssjóðum eignastýringarfyrirtækjanna. Stjórnir bankanna voru starfandi í umboði ríkisins á þeim tíma sem uppkaupin áttu sér stað. Samtals námu uppkaup nýju bankanna samtals 82,2ma ISK og var greiðslan innt af hendi með því að stofna innlán í nýju bönkunum. Stór hluti þessara Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-709920428495382013.post-85855230630870019702013-10-10T19:09:00.283+01:002013-10-10T19:09:00.283+01:00You should convert the figure to Dollars, the UK h...You should convert the figure to Dollars, the UK had a considerable devaluation.gagahttps://www.blogger.com/profile/02397267261646267166noreply@blogger.comtag:blogger.com,1999:blog-709920428495382013.post-14152703130389020532013-05-03T01:41:04.271+01:002013-05-03T01:41:04.271+01:00I sincerely do not know what the chances are for t...I sincerely do not know what the chances are for the removal of the capital controls at this stage. There is a new government in the making right now, let's wait and see what the outcome will be. It is important to remember that the lifting of the capital controls practically demands that the overhang of capital waiting to get out of the country is reduced somehow. A part of that necessary Anonymoushttps://www.blogger.com/profile/03708780532217726350noreply@blogger.comtag:blogger.com,1999:blog-709920428495382013.post-12460267384170701132013-05-02T04:14:51.583+01:002013-05-02T04:14:51.583+01:00What chance for the removal of capital controls? A...What chance for the removal of capital controls? And how could they do it in a way which encouraged new investment in and kept some of the old? Rafhttp://www.sustento.org.nznoreply@blogger.comtag:blogger.com,1999:blog-709920428495382013.post-28474868386214161322013-04-29T05:44:00.172+01:002013-04-29T05:44:00.172+01:00so when do you think Iceland will remove capital c...so when do you think Iceland will remove capital control if ever?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-709920428495382013.post-82839927997049403532013-04-27T11:21:05.644+01:002013-04-27T11:21:05.644+01:00Hey Anonymous
The best list of write offs to firm...Hey Anonymous<br /><br />The best list of write offs to firms that I've seen is the Wiki list (references included): http://is.wikipedia.org/wiki/Listi_yfir_afskriftir_fyrirt%C3%A6kja_%C3%AD_kj%C3%B6lfar_efnahagshrunsins_2008<br /><br />(I hope you're Icelandic as the list is only in Icelandic. Sorry! But if not, hopefully Google Translate can make a decent translation of it.)<br /><br />Anonymoushttps://www.blogger.com/profile/03708780532217726350noreply@blogger.comtag:blogger.com,1999:blog-709920428495382013.post-86974974097498606532013-04-27T11:06:04.720+01:002013-04-27T11:06:04.720+01:00You aren't factoring in the drop in Icelandic ...You aren't factoring in the drop in Icelandic currency. This is arguably the largest factor to consider here. <br /><br />Versus the USD, you could buy twice as many ISK at the end of 2008 than you could in January. <br /><br />When you have things like this happen, you have to revalue what a loan is worth. If you don't understand this concept let me know and I will explain further. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-709920428495382013.post-62361986496495169372013-04-20T23:21:15.161+01:002013-04-20T23:21:15.161+01:00Have faith my friend.
And keep up the good work.
I...Have faith my friend.<br />And keep up the good work.<br />It will maka a big differance in the end.<br />Vilhjalmur Jesus Arnasonhttps://www.blogger.com/profile/03787195747273692439noreply@blogger.comtag:blogger.com,1999:blog-709920428495382013.post-47964508095097292972013-04-10T14:17:55.057+01:002013-04-10T14:17:55.057+01:00Appreciate clearing up false Utopia of Iceland, bu...Appreciate clearing up false Utopia of Iceland, but it seems even if what we are hearing isn't entirely true, they seem to be better off now by bailing out the people vs. the banks. The U.S. is still struggling and the citizens feel like victims since the banks got away with burglary and nobody has been held accountable. <br />It's one thing to expose the 1/2 truths, but you should Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-709920428495382013.post-44419855902627396882013-04-03T07:22:11.615+01:002013-04-03T07:22:11.615+01:00Most people interested mortgage.The correlation be...Most people interested mortgage.The correlation between the contraction in mortgages and the implosion in the house market quite frankly startled me.Anonymousnoreply@blogger.com