In Defense Of Iceland

More

From a commenter:

I find it fascinating to read this blog. So many people seem to be able to write about things they clearly know almost nothing about. Iceland did NOT trade fish for finance. The fishing industry has always been our most important industry, and it still is. The banking sector grew so much in a short time, that it became no 1 for a year (I think, don´t have the actual numbers handy). It is also incorrect (and irritading) to say Iceland, because it was 3 BANKS, not the whole country, that went bankrupt. A part of Icelanders took foreign currency loans, not everybody.

I read somewhere that 10% of households foreign loans on their houses. I read the article in Vanity Fair and thougt it was really funny. It was deffinetly not meant to be taken seriously. I thought the part about exploding Range Rovers funny. I also read in an article that people were warned not to come here because of riots, bunch of people making noice with pots and pans, that sounds real dangerous.

Sentences like "Iceland is a giant hedgefund" work because they are sensational and catchy, and people need to find somebody who is in a worse situastion than they are. That is why it works.


Also New York magazine objects.

Jump to comments
Presented by

Ta-Nehisi Coates is a national correspondent at The Atlantic, where he writes about culture, politics, and social issues. He is the author of the memoir The Beautiful Struggle. More

Born in 1975, the product of two beautiful parents. Raised in West Baltimore -- not quite The Wire, but sometimes ill all the same. Studied at the Mecca for some years in the mid-'90s. Emerged with a purpose, if not a degree. Slowly migrated up the East Coast with a baby and my beloved, until I reached the shores of Harlem. Wrote some stuff along the way.

Get Today's Top Stories in Your Inbox (preview)

Sad Desk Lunch: Is This How You Want to Die?

How to avoid working through lunch, and diseases related to social isolation.


Elsewhere on the web

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register. blog comments powered by Disqus

Video

Where Time Comes From

The clocks that coordinate your cellphone, GPS, and more

Video

Computer Vision Syndrome and You

Save your eyes. Take breaks.

Video

What Happens in 60 Seconds

Quantifying human activity around the world

Writers

Up
Down

More in Entertainment

From This Author

Just In