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Delhommey

Icelandic Recovery

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And instead of rushing into the sort of spending cuts that have ravaged Greece and Spain, Iceland delayed austerity. Initially, the country even increased social-welfare payments to its poorest citizens, whose continued spending helped cushion the economy.

Trickle up economics!

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Wait, so they didn't spend money (that they didn't have) to bail out banks (and auto manufacturing/unions), and that was a smart move.....

You don't say?

Any numbers in there about where they got the money to pay their poorest citizens that money?

Devaluing the currency by 25% sounds awesome.

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Wait, so they didn't spend money (that they didn't have) to bail out banks (and auto manufacturing/unions), and that was a smart move.....

You don't say?

Any numbers in there about where they got the money to pay their poorest citizens that money?

They probably borrowed it to be paid back when times were better (like now).

When your economy is down, it's best to be running at a deficit providing that debt is not largely foreign.

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They probably borrowed it to be paid back when times were better (like now).

When your economy is down, it's best to be running at a deficit providing that debt is not largely foreign.

You and I will most likely always disagree about the borrowing of monies, I get that.

Running a deficit is always stupid, IMO. Running a deficit and hoping things get better down the road seems like a disaster plan. Much like the road the US is going down.

Again though, any hard data on exactly who got that money? How much it was? Etc....

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It's funny how Americans are made to believe that they are beholden to paying this huge deficit that was created by a couple people who think they own everything and everybody. When it's time to pay up they're not so rich anymore and the tax payer pays for lunch again and again. I read a couple articles that said the taxpayers are only responsible for 2 trillion of the 16 trillion deficit. The same gang wants you running around crazy over this " fiscal cliff". Yeah, right.

If they would have bailed out the taxpayers there wouldn't still be a recession. They know that. Iceland apparently has balls while the lawyer/banker class has Americans balls in a vice grip. Everything is about money here. Morality and common sense have no place in such an environment especially when the population is predisposed to being ruled and owned like sheep.

The founders would be ashamed.

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You and I will most likely always disagree about the borrowing of monies, I get that.

Running a deficit is always stupid, IMO. Running a deficit and hoping things get better down the road seems like a disaster plan. Much like the road the US is going down.

Again though, any hard data on exactly who got that money? How much it was? Etc....

Deficit spending is not my opinion. It's established economic basic tenet proven time and again.

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The economic principles of deficit spending during a recession are sound, the problem is convincing elected officials to run a surplus during the good years

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raise your hand if you trust those in govt to spend YOUR money wisely. its YOUR money. remember that.

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"running a deficit is always stupid" - someone who has assuredly received several nobel prizes in economics

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