How Iceland Collapsed

WSJ's Andy Jordan examines how Iceland's economic miracle came to an abrupt end and explains why the world should care about the collapse of the small country's financial system.

My reaction: A video like this will be made for America at the end of 2009.

I have been tracking developments in Iceland for the grim preview it offers the US. The dollar will suffer the same, if not worse, fate as the krona. Here are some of my entries on the subjects.:

How Iceland Entered Economic Freefall And Became A Terrorist Nation


Iceland Needs a 6 Billion Dollar Bailout Bailouts

Final thoughts: If Iceland, which was ranked last year by the United Nations as the most developed country in the world with the highest quality of life, can collapse in a matter of days, then what reason is there to believe it won't happen here in the US?

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