Thursday, November 20, 2008

Iceland Again

I keep hearing bits and pieces of news about Iceland. The situation there is not good. I'm sorry I wrote a funny poem about it.

But it is a good example of the risks you run when you build an economy on nothing solid.

The Icelanders do have real wealth: a beautiful country, well educated people, a lot of cod and sheep and a lot of geothermal and hydroelectric power, which is maybe not solid in the same way as a cod, but is a lot more solid than banks are at the moment.


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