Social breakdown after economic breakdown: Iceland

WTF?_2

Even in a land famous for its reserved people things are starting to stir in the wake of the banking crash:

http://www.bloomberg.com/apps/news?pid=20601087&sid=a2gMphgAVl3U&refer=worldwide

Unrest following the end of a five-year economic boom is overshadowing the holidays in a country of 320,000 near the Arctic Circle, where the folklore is filled with magic, trolls and elves. Expansion ended with the collapse of the U.S. subprime mortgage market. The fallout in Iceland may presage civil disruptions elsewhere, as job losses multiply and credit bills come due. Few nations can count themselves safe, says Ian Bremmer, president of the New York-based Eurasia Group, which analyzes political risk for businesses.

“As people have their expectations changed radically, you can have protests come out of nowhere,” even in developed countries, Bremmer said.

Riots in Greece this month, sparked by the police shooting of a teenager, became tinged with economic dissension. A group of Kuwaiti equity traders marched on the emir’s office in October to demand the closing of the stock exchange to stem losses. Even in U.S. cities, civil disorder is “conceivable” if unemployment rises above 10 percent from November’s 6.7 percent, Bremmer says.

Hauksdottir, the owner of a Reykjavik witchcraft shop, says over a cup of thyme and juniper tea that only civil disobedience can force banks to stop collecting debts that people can’t pay.

“We’ll use our voices, and then if we have to we’ll use our hands, and maybe axes,” Hauksdottir says.

..

Some Icelanders say the easy money of the past decade eroded the island’s traditions. A sheep farmer in the 1934 novel, “Independent People,” by Iceland’s only Nobel laureate, Halldor Laxness, preferred freedom from debt to any material comforts. His motto was: “I don’t owe anyone a penny.”

That philosophy may return, says Birgir Asgeirsson, 63, the priest at Reykjavik’s Hallgrimskirkja Lutheran church.

“I grew up learning that you work for what you get, but kids today just get what they want,” Asgeirsson says. “Now I can hear parents say ‘No, my little boy, it’s not that easy.’”

The Icelandic people are famous for their reserve and stoicism. Even speaking loudly out of turn used to be frowned upon.

Now - given the sorry state of British society how do you think the masses are going to react to being completely skint, having absolutely no prospects and a huge drop in living standards? Not to mention disaffected middle classes, many of whom are over-borrowed and facing loss of income too.

lilac_lady

I don't know what will happen in Iceland but surely the owner of a witchcraft shop can sort it all out with a few toads, pins and spells?

michaels

Economist was fairly sanguine about the risks of the UK suffering an Iceland - our net banking assets are a lot smaller compared to the economy and a lot of the banks in London are not British.

However I suspect our society would be less cohesive than Iceland if the brown stuff really did hit and food or energy shortages happened or even worse if Sky TV were to go off air...

luvpump

As i have said befor 2009-10 Civil unrest is a distinct possibility in the u.k..& the Establishment know it ..

purch

given the sorry state of British society how do you think the masses are going to react to being completely skint, having absolutely no prospects and a huge drop in living standards? Not to mention disaffected middle classes, many of whom are over-borrowed and facing loss of income too.

Full of the Joys of the Season :T

Bottom line is that everyone will blame someone else for their troubles, cos that is the way of things nowadays.

The BNP will get even stronger, extremist views will take over the major political party's and civil unrest will grow.

Other than that though, the future is bright.

drc

purch wrote: »

Bottom line is that everyone will blame someone else for their troubles, cos that is the way of things nowadays.

The BNP will get even stronger, extremist views will take over the major political party's and civil unrest will grow.

Lets hope it doesn't come to that. We saw what happened last time a group of people were scapegoated when Germany was in economic trouble in the 30s. I sincerely hope the West doesn't go down the easy "blame the ___*" route again.

* insert ethnic minority of your choice.

ultra10

drc wrote: »

Lets hope it doesn't come to that. We saw what happened last time a group of people were scapegoated when Germany was in economic trouble in the 30s. I sincerely hope the West doesn't go down the easy "blame the ___*" route again.

* insert ethnic minority of your choice.

I am Far from a fan ..but thats a bit like saying Michael foot's Labour Party would have invited the Red Army into the u.k once in power .. & as a Tory even I would'nt suggest that absurd notion ....

drc

ultra10 wrote: »

I am Far from a fan ..but thats a bit like saying Michael foot's Labour Party would have invited the Red Army into the u.k once in power .. & as a Tory even I would'nt suggest that absurd notion ....

:huh: I'm confused. Is this a reply to me or what I quoted from Purch?

WTF?_2

michaels wrote: »

....or even worse if Sky TV were to go off air...

Are you starting seditious rumours about Sky going off air? Now that the X-Factor and Strictly Come Dancing are off our screens the masses are starting to get agitated. You could be threatening the national interest.......

silvercar

We already have a deprived class, spending their whole life on benefits.

A recent article in the Times by Matthew Parris ended with:

"The choice for policy-makers is stark. “Sink” communities must either be contained and tolerated, or smashed and scattered. Either alternative is most unpalatable. "

Full article here:

http://www.timesonline.co.uk/tol/comment/columnists/matthew_parris/article5361143.ece

scousethife

purch wrote: »

The BNP will get even stronger, extremist views will take over the major political party's and civil unrest will grow.

Well the major parties want to learn to do their job instead of messing everything up, and with their noses firmly in the trough.