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Iceland Discovers That The Economy Has a Liberal Bias

The last time we checked in with Iceland, it was in the heady days of 2009. The world economy had collapsed, taking Iceland with it, and the Prime Minister, the Foreign Minister, the Commerce Ministers had all found very pressing reasons to quit, the political process would soon degenerate into a flurry of egg-throwing, and a massive volcano would unleash screaming Scottish people onto the streets and airports of the capital city.¬†Goodbye, Iceland, we thought. Have fun in the Third World, as they call it, and let us know how it is because we will be joining you soon! It turns out, however, that Iceland did NOT in fact descend into ruin but in an unexpected twist, decided that it would be wiser to push banking sector losses onto bondholders instead of taxpayers. AYN RAND IS GOING TO BE SO MAD, YOU GUYS. Read more on Iceland Discovers That The Economy Has a Liberal Bias…