Icelandic Stock Market Fell 94%!

[Grayphil]

Lol I went to iceland earlier this year, and went to that exact shop! And loved the t-shirt, so did everyone I showed the photo too

I have been to iceland every year for the last five years, this year i was looking forward to going as it was always expensive in the past, and this year however it wasnt as expensive, prices were apporx 30 % cheaper compared to USD, but this is still more expensive than most other countries, Norway, & Denmark etc being the only countries I can think of that are more expensive than it,

It still costs at least 7 GBP for a pint, last year it was approx 10 gbp

The person on the street didnt look scared or worried, I didnt see any beggars or homeless, and it looked to be life as normal, cash machines still worked in all banks etc, looked like nothing had happened.

[Bradbury Robinson]

The man in the street is wearing this T-shirt

http://www.flickr.com/photos/borkurdotnet/3221461589/

Excellent...works on so many levels!

1. It says 'poo'.

2. They've recognised the connection between our (unelected) PM's surname and the colour of 'poo'.

3. They've used a 'poo' shaped font to appeal to the nerds.

4. They've used the American spelling of 'color', it did all start there after all!

All that because we kept their money, which was really ours, which they had lost, but now wanted back, but we didn't want to give them it back!

[Urdur]

http://www.ft.com/cms/s/0/97cb78ba-a3ea-11...144feabdc0.html

The thing is, that the Icelandic stock market had a very small number of companies listed. So when the banks went under along with closely related companies..only around 10 or so companies remained listed.

The removal of the banks etc..from the stock market thus resulted in this 94% drop.

[Urdur]

I really want to see what is happening to the man on the street over there

Oh..it's really jolly around here

We have 9% unemplayment..

The banks are rubbish and still don't function as a bank should..

Inflation is 14%..

Food prices have risen 35% in one year which is great since our loans are connected to a price index thus resulting in our depts rising by 20%..

The Icelandic krona is ruined..

All our politicians are clueless idiots and sissies..

The IMF whilst loaning Pakistan right on schedule..has been postponing our loan for 7 months..because of bloody IceSlave..

The Nordics won't lend us until the IMF lends us..because of bloody IceSlave..

But worst of all..our reputation has been dragged into the mud..

The social system here in Iceland however is huge..so there is quite some space for cuttdowns without people starving.

That and the fact that this is such a small nation that the genuine thinking around here is simply that to think of us as a big family. So we take care of each other...at least we try

Those who have lost their jobs or people with forreign currency loans have had their loans "frozen" to prevent them from going bankrupt..that's why people aren't freaking out around here.

BUT..it's the above listed things that are getting on our nerves..big time..

P.S We fortunately grow potatoes so it's chips along with the fish on the dish..

[Urdur]

They'll accept the Euro

Don't count on it..

The results in the lates EU poll published last week shows a growing resistance to EU membership..

62% against, 38% in favour..stubborness is blood bourne I guess..

[porca misèria]

The thing is, that the Icelandic stock market had a very small number of companies listed. So when the banks went under along with closely related companies..only around 10 or so companies remained listed.

The removal of the banks etc..from the stock market thus resulted in this 94% drop.

Aha, I see! Yes, that makes sense now you mention it.

I still suspect there should be some good recovery opportunities in Iceland: good companies that have been undeservedly dragged down. And they could probably use foreign investment just now! So perhaps I should be googling your stockmarket as a startingpoint.