Iceland decided not to follow the rest of the world by bailing out the bankers. Instead, they chose to arrest them. Now their economy is recovering faster than the EU and the United States.
Remember when the United States government told the American people that immediate action was required to save the banks, and save our nation from complete collapse? An action in the form of Billions of dollars of National Debt? Yeah, we remember that!
Now Trillions of dollars in National debt later, we are in the same position we were in 4 years ago, just more debt.
As a matter of fact Federal Reserve Chairmen Ben Bernanke has called for yet another stimulus that will add more debt onto the mountain we already have.
At the start of the world wide 2008 economic collapse, Iceland was in worse shape than almost any other country in the world. Now they are one of the fastest growing economies in the world.
Imagine what America would be like today if we bailed out the victims of poor banking practices, while punishing the bankers who were responsible?
Was Iceland off their rocker for sending the bankers to jail, or on to something that America should have done as well?
Via: "American Live Wire"
No comments:
Post a Comment