Wednesday, July 6, 2011

Iceland Credit Raters Miss Resurrection After Failing to Predict Collapse

By Omar R. Valdimarsson

he credit rating companies that were too slow in predicting Iceland’s economic collapse in 2008 may be underestimating the strength of its resurrection.

Fitch Ratings said in May it may take two years for the island to shed its junk status, while Moody’s Investors Service and Standard & Poor’s give Iceland their lowest investment grades. That hasn’t deterred investors from trying to buy twice the amount offered in last month’s $1 billion bond sale as the island returned to global capital markets less than three years after its banks defaulted on $85 billion in debt.

“When you look at how successful that auction was, it’s clear that investors are now crunching the numbers themselves and that the credit grades from the rating agencies are less relevant,” Valdimar Armann, an economist at Reykjavik-based asset manager Gamma, said in a July 4 interview.

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  1. don't want it to appear as manageable a, hit the road bondholders and banks, get lost, too bad, default and restart without-the order-and against their wishes.
    ...but if we don't raise the debt ceiling there'll be armageddon fer sure. lol

    wonder what course we're on? what assets they'll sell? iceland said no. argentina and bolivia and greece and portugal and ireland and many others took the IMF's and their kin's help. took pensions, sold assets, enacted the mandated taxes and spending. the US is the largest funder of the IMF?, ironic. we sell assets, piecemeal and quietly, raid pensions now, fund our own debt til devalued many may not want our paper IOU's anymore and demand more assets. argentina and bolivia had riots to chase them off somewhat, iceland just said no and didn't have riots, greece and others have riots, so will any who don't just stop, turn, and live sanely as a country. we'll spend til they don't want to hold dollers and bonds anymore and want the land? oneday we'll need some form of bailout, which will need another, and another as how or who could bailout the US, and each time losing sovereignty and mandated we do this, or that, just like greece and portugal and ireland and...the bailouts a means to gain control of policy and assets. the course we're on?

  2. If you think this is bad, wait til the US Govt comes for all Pensions, Your House, Car and Life, What do you think Fema camps are for?? Fake non existant Terrorists?? No those terrorist are created by our own Cia and fbi, Bin laden was trained by the Cia to fight Russia, Al Ciada was created by the Cia as a boogeyman to drain our future and money with fake expensive wars for their Military Industrial Complex buddies. You have not idea what is coming for us citizens, but I do.

  3. 7:40 when I see the 98% still believing the Laden story and the recent BS stories about his killing I feel ashamed that Americans are so gullible.

    Never before in human history has a populace been so thoroughly controlled by propaganda and blatant deceptions.

  4. 7:40, you're just as stupid as everyone else around you. FEMA camps have been around for over 50 years. They came about to put the Japanese Americans in them. If you think FEMA actually wants people in them think again. There are homeless families after tornadoes wiped out their homes that are rejected from being sheltered by FEMA.

    Enough of it because the theory is totally not in reality. It's non existant (it's spelled
    e-x-i-s-t-e-n-c-e by the way). 300 million Americans, all very diverse and spread about, underpaid soldiers and police, veterans coming back with heroin addictions and missing limbs, and a bipartisan house that can't agree on the simplest of things. These are all definitely signs that FEMA trucks will be coming for us.

    Then what will the leaders do after the slaves are dead? Who will work for them to eat food? Will they sit around admiring their gold coins?

    I know simple questions like that which reveal the lack of logic your viewpoints have are seldom asked by the rabbit hole types like you. Reminds me of the Chemtrail groups...

    The elites have destroyed us with our schools, cheap alcohol, drugs, TV, and eliminating fathers from the households. Why would they need to waste chemicals supposedly put in the engines of the planes and the gas to fly the planes about when they've already wasted us merely through entertainment?

  5. 144 you are a idiot. Who will work, how about a billion chinese, Idiot, they just built their own city in idaho for them, look it up stupid. south of boise idaho, Free trade zone there are hundreds of them coming to the us.

  6. 1:44 is deluded and believes the elite 'need us.'

    The last act of Congress 2006 was to refurbish the Japanese internment camps for, hahaha - historical purposes - 26 million dollars.

    FEMA camps have been refurbed and new ones built. They stand ready nationwide. If you live in a major US city there is one within 25 miles of you most likely. Research it, drive out and see your camp, not that hard. Of course when the Jeeps stop you just say you were lost.

    Seven million people starved to death in the first great depression and the US was a giant farm. This time around at least 25-50 million will starve off and die. The average unprepared fool has 3-4 days worth of food and no stored water.

    Most of those people will die within the confines of a Fema Camp. No one needs to be rounded up or chased down. The lines will form for miles due to the promise of food and water. Not just bums either. The former wealthy, the well to do, the unprepared.

  7. 1:44 take heed - these alarmists need something very, very bad to transpire in order to fulfill
    their very own version of prophesy.
    I know your sorry to disappoint them; and they, being pissed off that it won't actually happen

    But hey; they can keep on dreamin' can't they?


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