Learn the lesson this time

I don’t think it has hit most people yet, but we are in the middle of the defining moments of our livetimes. 

At the end of 2001, my economics teacher whom I respected greatly told me that when the history books would be written, the most important story of that year would not be 9/11 but Enron. 

I now know what he meant. 

We are facing a meltdown of broken systems that have been pillars of our existence for quite some time now. The political system needs some serious cleaning, the economic system needs a total revision. 

A lot of truths aren’t anymore. 

You can see it in the United States, in the UK and most seriously in Iceland. A change is needed. The question why is more important than ever. Why do we do the things we do the way we do them?

Extreme ideology driven with religious fervour is untolerable anymore. The free and unregulated market is a myth, just like the virgins that await the suicide bombers. It would be nice if it were true for those who believe but it isn’t. The reality is a disaster and we should stop listening to the preachers.

A debate format that pits extremists against each other on television works for CNN but gives unnessecary credibility to people who believe in talking, burning bushes.  

The seperation of the branches of government is more important than ever. The independence of each branch from the other is crucial if the goal is a society that people can trust. Checks and balances are crucial. 

Obama is letting the stimulus of the leash. I fear that it may come too soon and it is helping to keep alive too many broken dreams. Like the US auto-industry that seems to have no long-term vision. 

In Iceland, change is needed but the politicians and business leaders are scrambling for their seat at the old table, ignoring the fact that a new one is needed. Elections are probably coming too early for any debate to mature from the sandbox. 

In the UK, the talk in the media resembles where Iceland was a few months ago. Chaos! 

A word of advise for the rest of the world. Learn the lessons of Iceland. The interplay between politics and business and the havoc it has wrecked.

Since you didn’t learn from Enron, you now absolutely have to.

Unemployment breaks the 15.000 barrier

Unemployment is now 15.199 people.

The blank party

A friend intends to form the Blank Party. 

In Icelandic elections, blank votes are classified and read out alongside invalid votes. 

So if 40% of voters would turn in blank votes and 2% were stupid enough to not know how to fill out a voting form then they are to be put in the same category without distinction. 

Forty percent might be a realistic number of blank votes in times like these. The elections are coming fast and we seem to be stuck with the same old people in the same old parties. Now the Progressive Party intends to follow Geir Haarde’s lead and appoint candidates for the election, instead of allowing members of the party to vote.

So I would consider the Blank Party if my friend gets it off the ground. If it would get seats in the parliament then he has promised to keep them empty. Just to give that broken institution a long finger.

Unless I form the Quatrain Party myself. Quatrains are a popular form of poems in Iceland, especially amongst “cheeky old geezers” who slap each other on the back if their quatrain is read on national TV on election night.

Their votes also get cast in the invalid category so why should they not get their own party to vote for. If we could get a seat in parliament then we’d promise to deliver our speeches in quatrains only.

Iceland should adopt sterling, not the euro

Well, how about this, chaps: why don’t you adopt the pound? If you really are convinced that the króna has no future (and I’m not sure I agree, but it’s your decision), there are other currencies out there. Here are four reasons why sterling might be more attractive than the euro:

From The Telegraph

Dire times as Icelanders seek assistance from the church

It must be dire times as Icelanders are turning towards the church for help. The Church’s Assistance Center reports an 150% increase in requests for assistance from last year. That’s an increase of 150%. Many are seeking assistance for the first time, including many middle-aged males who haven’t required help before.

Questions that require answers

Gunnar Tomasson asks some interesting questions at Silfur Egils. He hints that some of the answers might include clues towards how Iceland has been used to launder money from Russia. Even if that is not the case, the questions are valid on their own and should merit answers.  

Why didn’t the U.S. Federal Reserve Board not want to help the Icelandic Central Bank?

Why did the Icelandic government hesitate in asking the IMF for assistance?

Why did the UK government enact terrorist law against Landsbankinn?

Why hasn’t Geir Haarde spoken to Gordon Brown since?

Why didn’t David Oddson want to talk about it?

Why won’t the Icelandic government bring the dispute against the UK into court? 

Why did the Russian ambassador talk about a 4 billion USD loan to Iceland? 

Why did the Icelandic government take it seriously?