If you want further proof that Iceland is a godforsaken place to live then HERE IT IS!!!
Look at Beachgirl’s Debt-O-Meter in the left frame where she is tracking her student loans…
…she is paying off her loan AND IT ACTUALLY GOES DOWN!!!
Instead of this horrible, little rock in the ocean east of Greenland where a couple of hundred thousand people think they are so incredibly clever to have PRICE-INDEXED all their loans!!!
A loan that actually goes down as you pay???? Who would have thought? Why aren’t Icelanders still using horse-carts and candle-lights instead of cars and electricity? Why are we so incredibly close-minded that we still prefer to pay to the hilt to banks and government institutions who proceed to rob us blind anyways?
For betting on Iceland as a great place to start an independent life I have seen my home loan rise by 2.5 million ISK in the same period as I’ve paid 2.5 million onto it. I have seen my student loans rise like a kite on a windy day for the sin of being Icelandic.
To quote the only sensible guy in Iceland: HELVITIS FOKKINGS FOKK!!!!
This is it. I am declaring war on this unjust and soul-crushing mechanism called price-indexation. I am tired of politicians and economists whose special interests stand in the way. Either the price-indexation goes or I stop paying taxes and leave the country.
It seems to work for Bjorgolfur Thor, Bjarni Armannsson, Olafur Olafsson and their like so here goes…