Originally Posted By: sini
Derid, when we talk about US healthcare, you always tell me that other countries, especially small European ones, are not comparable to US.

Guess what?

Iceland is not comparable to US as far as outcomes of financial crisis. Crash&Burn of Icelandic Banking System has negligible effect on global economy. Worldwide Manufacturing, Agriculture, Transportation will not cease to operate when Iceland "wiped clean" banking. As such, after "wiped clean" they can rejoin global community and start trading again with only minimal penalties. The same could not be said for US, there won't be global community left to rejoin if US to do the same.

I am constantly amazed how you can be so overly optimistic in your US market failure predictions. It does reinforce your ideological position, but at least consider that your position wasn't even considered as "best-case-outcome" at the time of financial crisis in the US.


Nah, the line you are thinking of is the line peddled by those who had the most to lose had they not been propped up.

In fact for Iceland is was more dangerous, because they are far more dependent of foreign mfg. - its not like the bankers and pundits there werent decrying that the same scenario of doom you predicted for USA would not come to Iceland 10x. The USA has no need of the rest of the world, the worst case outcome for global trade grinding down had it even happened... is more expensive TVs for a bit, and some other consumer products.

The rest of the world would most likely have thanked us, in retrospect, had we allowed the economic hegemony to fall.

For who could be free when every other man's humour might domineer over him? - John Locke (2nd Treatise, sect 57)