Nicole Foss: Ragnarok – Iceland and the ‘Doom of the Gods’


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    Nicole Foss

    Unknown Molten Lava And Papaya Trees 1960 Kilauea eruption near Kapoho, Hawaii Nicole Foss: Countries caught in the grip of financial crisis, with aus
    [See the full post at: Nicole Foss: Ragnarok – Iceland and the ‘Doom of the Gods’]


    Thanks Nicole!

    This was a very interesting read, and certainly a nice pre-Christmas present to find here on TAE 🙂

    This struck me as the saddest part of the entire saga:

    “Unfortunately the problem was that there were no solutions that could have avoided the pain people continue to face, no matter who was in power, and any government trying to do anything under circumstances of inflated expectations, copious spending priorities and very little money is going to upset almost everyone. When anger and fear are in control, and the there are inevitably going to be far more losers than winners, whatever one does tends to be seen in a negative light, even if it was the best possible action under the circumstances. Nothing within the scope of what is actually possible looks like success to anyone.”

    I suppose it was silly of me to assume things would finally right themselves once the crash finally gets here. Looks like a decade of remembering the good old days and fighting about how to revive them while the world crumbles around us will be something we’ll have to deal with first before people finally accept reality for what it is 🙁


    John Day

    Thanks so much Nicole, for presenting a deep and nuanced view of the developments over time in the Icelandic financial crisis.
    Most of what I have read has been “horse race” style reporting.
    “Iceland is winning by showing backbone!”
    It’s nice and it’s what we all want to see, but this version rings truer.

    Nicole Foss

    The world is a complex place but most of the commentary is two dimensional at best and highly over-simplified. We can’t learn any lessons if we only look at cartoons and caricatures rather than reality. Unfortunately an awful lot of people seem to find complexity off-putting and ignorance preferable. That’s why those who do learn the lessons of history are doomed to watch everyone else repeat them.

    Aaron Perry

    Thanks, Nicole, for such an enlightening and thorough article. Complexity is indeed off-putting, especially if it has to be force-fed to us in a three-minute segment or two columns of news. This is a good bit of evidence that both “business as usual” and “we’re headed for the stone age” are opposite (and unlikely) extremes, with the more probable outcome a much more broad and complex end point.


    Hi Nicole,

    Excellent explanation of what really happened in “the frozen land”…it is a true shame the new constitution was killed by special interests/apathy.
    I imagine the next time it all blows up, the people will get more involved, that might include hanging the bankers instead of putting them in a nice civilized a new meaning to a …”suspended sentence”….

    Its funny,in a slightly frightening way,the more grim,hard-nosed, “rough talk” I have seen and heard on the various forums,news groups,and comment sections where I get my mental picture of “the state of things”.[Regardless of the fact,everyones comments,thoughts,and mental state is posted/recorded online for the whole worlds examination and evaluation].

    Folks are broke,hungry,and pissed-off beyond words,at the political theater that passes for governing here in the USA.A good example is of their throwing 1.5 MILLION citizens under the bus so the congress could get home for THEIR Christmas holiday,without the knockdown-dragout they will have over extension of emergency unemployment benefits.
    No money for you…Merry Christmas.

    For the most part,In the past,I really did not see that much talk that included serious discussion about that R word[revolt].That is changing
    More ,and more,in the damnedest places,I see posts from normal,everyday folks who have come to the conclusion we no longer live in a country that has the best interest of the majority of the citizens at heart. TPTB own the rulemakers,and you don’t count,at all.Its like they have been listening,and taking to heart,everything old George Carlin had to say about “the way of things” and getting more and more angry about it.
    Its not something you can see in a poll.
    Its not something you can measure,
    but it is something that exists,sure as you are seeing folks lose their pensions,and all hope of living the kind of life the propaganda [ they have seen all their lives]says they are due.TPTB seem oblivious to this groundswell of pure rage that is forming from the ones whom are the most solid,conservative..and “just folk” who have been hurt the worst by the games played by “the elite”. Every life that has been directly smashed,by these games,has been ‘observed’BY MANY OTHERS.The children,the friends…all those who watch and see what happens to those who have “Played by the Rules”They learn lessons that will take generations to unlearn…dont trust the .gov…dont trust the banks…dont trust your employer..This destruction of trust destroys a country from within.

    Some one mentioned recently Frank Zappas comment about “one day they take down the curtain and you see the brick wall” . We are all seeing the brick wall now…many for the first time,and the reaction,the shock and disbelief is setting in.I expect to see anger and rage…soon… as people figure out just how badly they have been lied to.

    I expect the loudest howls to come from the those who think ,incorrectly,they will be looked out after…the ones 3 steps down on the food chain whose political support has kept this machine going.Boy will they be in for a [unpleasant] surprise.

    Keep you family well as your wealth,and your friends.Things are coming that will test all those bonds.

    Bee good,or
    Bee careful


    Golden Oxen

    Thank you for the obvious amount of effort and time spent on this splendid article.


    Excellent article as always, Nicole. But how come this isn’t coming up on the front page f the site?


    Nevermind — I just emptied my cache and it reloaded fine. It was stuck on last week for some reason.

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