Iceland near bankruptcy, Nationalizing Banks


Saying Iceland was at risk of "national bankruptcy," Prime Minister Geir Haarde prepared to give regulators authority to take over the nation's ailing banks as a worsening financial crisis all but cut off the island from the global financial system.

Credit lines to Iceland's banks closed down Monday, Mr. Haarde said in a televised address. Late Monday, Iceland's parliament was voting on an emergency law that could put the entire banking system under government control. It was expected to pass

This is like watching dominoes.

Today Iceland got a loan and pegged their currency.

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Speaking of dominoes

Iceland was able to secure a loan to buoy their banks...... from Russia.

But there's a catch.

It looks like the Russians want to lease the old US airbase as Keyflavik. With Tu-95 "Bear" Bombers (the workhorse of the Soviet Strategic Nuclear program) this is a 4.5 hour trip from New York. Less than 2 hour by the Tu-160 super-sonic bomber.

This would cut the time to New York by about half from what it is now. And beefing up strategic nuclear bombers is a way to counteract the change that the proposed missile defense shield would bring.

Strategic bombers don't have fixed trajectories, they can evade countermeasures. They can have the "stealth" technology like the B-2 bomber. In short, they are a way to get around a missile shield.

Depends on the missile shield

Done correctly, though, wouldn't an artificially intelligent anti-missile be the ultimate anti-aircraft missile, making about 5000 course corrections to every one a human pilot can make?

Of course, that would suggest that you actually have the right chips in the anti-missile to begin with....

Maximum jobs, not maximum profits.

mixing economic and foreign policy

remember that was the "sale" on bad trade deals...if we give our jobs away then magically that's foreign policy and that will keep the peace? They replaced bombs with giving away the middle class economic health.
to me this is the real result of mixing the two.