Hi, I just read this from wikipedia:
Over the year 2008 and over the entire decade 1998-2008 the OMX Iceland 15 has been the worst performing stock index in the world.[2](http://en.wikipedia.org/wiki/OMX_Iceland_15#cite_note-1)
OMX Iceland 15 suffered a great loss during the financial crisis in 2008. Trading in the stock market was suspended for three successive trading days, i.e. October 9, October 10, and October 13. Trading was resumed on October 14, 2008, and OMX Iceland 15 closed at 678.4, which corresponds to a plunge of about 77% compared with 3,004.6 closing on October 8, 2008. This reflects the fact that the value of the three big banks, which form 73.2 percent of the value of the OMX Iceland 15,[3] had been set to zero.
http://en.wikipedia.org/wiki/OMX_Iceland_15
Then I looked at the level of taxes (which I guess is the most important and simple measure of the size and threat that is caused by the Leviathan).
I took this from Heritage Foundation (of course that the way of measure Fiscal Freedom has “some issues”, anyway):
Name Year Fiscal Freedom Denmark 2010 35.9 Finland 2010 65.4 Iceland 2010 75.4 Norway 2010 50.5 Sweden 2010 36.7 Denmark 2009 35.4 Finland 2009 64.3 Iceland 2009 76.2 Norway 2009 50.3 Sweden 2009 35 Denmark 2008 35 Finland 2008 64.2 Iceland 2008 73.6 Norway 2008 50.3 Sweden 2008 32.7 Denmark 2007 34.2 Finland 2007 63.1 Iceland 2007 73.5 Norway 2007 50.6 Sweden 2007 33.1 Denmark 2006 35.5 Finland 2006 61.9 Iceland 2006 73.7 Norway 2006 50.8 Sweden 2006 33.2 Denmark 2005 33.9 Finland 2005 58 Iceland 2005 72.5 Norway 2005 50.4 Sweden 2005 33.7 Denmark 2004 33.6 Finland 2004 57.5 Iceland 2004 58.7 Norway 2004 50.8 Sweden 2004 32 Denmark 2003 32.6 Finland 2003 54.9 Iceland 2003 69 Norway 2003 50.9 Sweden 2003 29.8 Denmark 2002 32.2 Finland 2002 55.6 Iceland 2002 63.1 Norway 2002 51.1 Sweden 2002 31.4 Denmark 2001 31.6 Finland 2001 55.6 Iceland 2001 62.9 Norway 2001 56.7 Sweden 2001 33.7 Denmark 2000 30.5 Finland 2000 37.2 Iceland 2000 64.8 Norway 2000 57.3 Sweden 2000 34.1 Denmark 1999 30.3 Finland 1999 38.4 Iceland 1999 60.5 Norway 1999 57.9 Sweden 1999 35.4 Denmark 1998 30.6 Finland 1998 38.5 Iceland 1998 61.2 Norway 1998 57.9 Sweden 1998 37.3 Denmark 1997 30.6 Finland 1997 54.9 Iceland 1997 61.6 Norway 1997 58 Sweden 1997
39.5
http://www.heritage.org/Index/Explore.aspx?view=by-region-country-year
http://www.heritage.org/Index/Fiscal-Freedom.aspx
In this data it seems like if Iceland has low taxes… probably the worse burden tax would be the inflation rate…
I tried to find the data of the monetary base but I didn’t find it.
Someone know where may I look for it?
All that goes up must come down. Buy low, Sell High. (Bill Bonner always said that kind of stuff)
So I wonder when is the right time to buy iceland’s index? After hyperinflation explodes?!
Last one: Do you think that Iceland should have better or worse situation than the rest of scandinavian countries? What she deserves (in comparison with those others)?
Thanks for Helping me. i’m just a beginner in Economics and English :S