BANK RUN -TRINIDAD AND TOBAGO WEST INDIES, REPUBLIC BANK, ROYAL BANK, FIRST CITIZEN BANK and SCOTIABANK thousand of customers simultaneously withdraw all their funds, because they believe that the banks might go into bankruptcy, and for fear of the bank becoming insolvent and that they the customer, will lose all their money.people are putting their money in smaller credit union banks or keeping it at home.
It's a very interesting look at guys in suits talking. But seriously, I think, here in the US, the powers that be would just be like "What crisis?". They're already sort of doing that now. Americans, as a whole, are just SO under educated as well. Something like this would hit us hard.
@tarrker i think most US citizens have a high education, and are skillful. i think the weak spot is the emphasis in not welcoming ideas from other societies. It is a very working society having less analysis of the tricks in the economy. If US citizens were more in touch also with the past, they would consume less basing on the depression era.
Iceland - as the mini-economy it is - is a perfect IMF showcase. The PIIGS, however, must go the austerity way. There aren't enough money (in the world) for propping up these countries.
All politicians and economists are cherry picking graphs that supports their models, Krugman is no exception. You can not print your way to prosperity, Krugman, only "academians" can possibly believe such a thing.
How nice that the IMF has become sort of a "good guy" (Krugman) now that European countries are being hit by crises. It would have been very nice if this IMF epiphany had happened in the 1980s when Latin America was on the bad spot. Hard not to draw radical racial/ethnic/political conclusions from this.
so.... whos fault was it?
PrometheusMovement 2 months ago
This is a lie! Island refused to pay and implemented direct democracy.
ithesisko 2 months ago
BANK RUN -TRINIDAD AND TOBAGO WEST INDIES, REPUBLIC BANK, ROYAL BANK, FIRST CITIZEN BANK and SCOTIABANK thousand of customers simultaneously withdraw all their funds, because they believe that the banks might go into bankruptcy, and for fear of the bank becoming insolvent and that they the customer, will lose all their money.people are putting their money in smaller credit union banks or keeping it at home.
leef0flife 2 months ago
It's a very interesting look at guys in suits talking. But seriously, I think, here in the US, the powers that be would just be like "What crisis?". They're already sort of doing that now. Americans, as a whole, are just SO under educated as well. Something like this would hit us hard.
tarrker 2 months ago
@tarrker i think most US citizens have a high education, and are skillful. i think the weak spot is the emphasis in not welcoming ideas from other societies. It is a very working society having less analysis of the tricks in the economy. If US citizens were more in touch also with the past, they would consume less basing on the depression era.
juan1974mendez 2 months ago
The only way to create jobs is to cut deeper and establish free markets.
1isaM111er 2 months ago
Iceland - as the mini-economy it is - is a perfect IMF showcase. The PIIGS, however, must go the austerity way. There aren't enough money (in the world) for propping up these countries.
All politicians and economists are cherry picking graphs that supports their models, Krugman is no exception. You can not print your way to prosperity, Krugman, only "academians" can possibly believe such a thing.
RTC1655 2 months ago
How nice that the IMF has become sort of a "good guy" (Krugman) now that European countries are being hit by crises. It would have been very nice if this IMF epiphany had happened in the 1980s when Latin America was on the bad spot. Hard not to draw radical racial/ethnic/political conclusions from this.
JulioHuato 2 months ago
Should be a good time to buy an Icelandic horse in Iceland. They can be shipped. Icelandic horses are fantastic hardy intelligent small horses.
GreatG0dOm 2 months ago
so, why not apply these methods to Greece and Italy? presently, we only see good old austerity as the proposed "solution"
tevezteveztevez 2 months ago