
ICED OUT.
Lets take it back 97 years to April 15, 1912:
At approximately 2:20 am, the mighty Titanic sank to the bottom of the ocean 2 hours and 40 minutes after side-swiping an iceberg. It was a maiden voyage turned maritime disaster. The sweetest ride on the sea went from a port to a plankton parking lot before it even had a chance to turn a profit. What a shame.
And speaking of ice and sinking... How bout that financial crisis in Iceland?! Last October, Iceland's three largest banks were nationalized and declared bankrupt. The country's currency, the Krona, lost 75% of its value almost immediately and half of the population was bankf*cked and broke. Central banks failed to build up currency reserves, which Forbes described as “unpardonable neglect.” And due to massive political unrest, the government was overthrown earlier this year. Leave it to a currency crisis and banking sector collapse to really f*ck everything up. The upside? Cheap Icelandic vacations! Cause who doesn't like Bjork and pickled whale blubber?
The similarities between icebergs and Iceland go way beyond ICE ICE BABY.
Such as failing to adequately prepare for disasters.. The “unsinkable” Titanic did the “unthinkable” and sank! 20 lifeboats for over 2,000 passengers? Puh-lease. Guess who didn't get a seat? The irrelevant impoverished people, of course. I guess in the end its better to drown in Icelandic debt than in an ice-cold ocean.... but the important lesson here is to always prepare for the worst cause too-good-to-be-true always comes to an end when you least expect it and remember, poverty sucks. Baaaaaaaaad.