If what John Murdoch (great name, btw) is correct, than the government of Iceland essentially stole the money from small investors from Europe. If this is the case then they will likely have trouble in the future. Like Murdoch says, who would invest in a country where you are not sure that you can get your investment out? If you have big capital projects that need foreign money, Iceland is going to have to pay a premium to get it. But perhaps they are not interested in this and they'll just stick to fishing.

I actually don't see a difference between counterfeiting and what the Fed is doing, except that the Fed is able to do it on a scale only government can. Is not the effect of counterfeiting to reduce the value of your dollars? If you get your money by earning it, which means exchanging a good or service that others voluntarily purchase from you, and I get my money by simply printing it, have I not reduced the purchasing power of the dollars that you've earned? I think the counterfeiting argument is bang on and helps to clarify the issue for average guy.

You said it brother. It's a story as old as history itself. Paper currency allows government to create the illusion of providing something for nothing. The reality though is that they are sucking the life out of the private economy, literally killing the golden goose in its sleep. I'd vote you in as Treasury Secretary in a heartbeat.

I think Mendel has provided the best answer. Their GDP per capita was cut in half. Meaning, the economy was allowed to hit bottom. Most politicians in the western world are doing everything they can to keep up the illusions that we're richer than we think.

Hmmmm, I've read these articles, but none of them are really getting at what I'm after. The Icelandic President Olafur Ragnar makes the following claims:

• They introduced currency controls successfully
  •    How did this work?
• They let the banks fail
  •     What were the consequences of this? What happens to my mortgage if my bank fails?
• They provided support for the poor
  •     In what form? How was this done?
• Did not introduce austerity measures
  •     So, government continued to grow in size? Is your budget balanced now? What did your government do when it ran out of money?

The reason this meme is showing up on so many progressive websites is that it seems to demonstrate that more government control (with the exception of letting the banks fail) is the answer. I don't think it ever is, but I need more information on just what is going on in Iceland, and I'm not getting it from these progressive websites.

There is no difference. Like Mark Steyn says, it always begins with the money. I'm convinced that one of the main reasons for the pathetic recovery is that the market is being flooded by currency. Money is a medium of exchange, nothing more. The artificially low interest rates we are enjoying comes at a cost, and that cost is that supply and demand are completely out of whack. It's kind of amazing to me. Most economists recognize that putting price controls on the economy, like setting the price of milk, is a bad thing. However, they see no problem in setting a price like the interest rate (which in reality just the price that lenders will loan to borrowers). at an artificially low level. One of the big reasons for the Reagan boom is that Jack Volcker, who didn't believe in "Reaganomics", stopped increasing the money supply. Yes, unemployment was brutal and interest rates spiked, but supply and demand got back on track. Something similar has to happen now. No one wants to do it though because we're like a drunk who doesn't want to experience the hangover. Just keep drinking!

For what it's worth, I'd bet on YOU. Parents will go to super human lengths for their children. If I were a teachers union thug or bureaucrat I'd tread carefully.

I wonder if it wouldn't help the drive for new members to have an actual visual representation of the current membership vs the desired goal right on the main page. Something like a thermometer that other organizations use for pledge drives. If you want to improve something, it helps to measure it and let others know about it. Just a suggestion ;)

My top 3 movies of all time 1) Star Wars (the original, of course) 2)The Bridge Over The River Kwai 3) Excalibur (an odd choice, I know, but I just love that movie)

How about the rise in poverty, homelessness, and falling wage rates?

If this is what E.J. thinks, you know the conservative movement is alive and well. Maybe I'm hoping and projecting, but I'm seeing a little bit of my own Stephen Harper in Romney. Here's why.

We all love principled conservative politicians like Reagan or Thatcher who aggressively state principles. The problem with this though is that when you burn brightly with passion and conviction, you make it easy for the opposition to coalesce against you. They know what they're dealing with. In Canada, Harper barely says anything, he just does. This makes it hard for the opposition to shoot at him because they're never quite sure what they're shooting at. They so desperately want to fight an evil conservative, and Harper doesn't play along. I'm seeing a little of this in Romney's campaign, and in E.J.'s confused comments. The key is going to be in watching what Romney DOES.

I do. It's what's great and maddening about him at times. I would have loved for him to have given a great rousing speech on free speech and the evils of the HRC's. However, it's just not his style. Still, when an opportunity comes up, he seizes on it quickly and ruthlessly, often without saying anything.

Section 13, which was the anti-free speech aspect to it (the one used against Mark Steyn) has been stripped. They still exist though, although they have been greatly weakened.

In a lot of ways, Stephen Harper is the anti-Obama. No one will ever accuse him of being cool and he barely says anything. However, he's whip smart and knows how to get things done. I pray that Romney proves to be in the same mold. If so we'll be in good shape.

I hope you're right, but my money is on "Whore".

I'm more of a basketball fan myself, and the new season is starting up soon. Can't wait to see how my Sixers do this season. I think they could go all the way to the Eastern Finals (before they lose to the Heat, again).