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Re: undefined

#11

Post by ordinary »

nohat wrote: post #9

200 times GNP? Unlikely. Jared Diamond's book by the same name? That's not very specific if you don't know the name of the book. Is it "Iceland’s ninth century agrarian collapse?" Also she uses million where she probably meant billion (the author is American and she addresses Americans, so American millions should be what she's using). Otherwise, if her facts are correct then it is a very interesting case. I'm partic…

I think you're also confusing millions and billions. For one, there is no such thing as "American millions", millions are the same everywhere.

Re: undefined

#12

Post by hollerith »

nohat wrote: post #9

200 times GNP? Unlikely. Jared Diamond's book by the same name? That's not very specific if you don't know the name of the book. Is it "Iceland’s ninth century agrarian collapse?" Also she uses million where she probably meant billion (the author is American and she addresses Americans, so American millions should be what she's using). Otherwise, if her facts are correct then it is a very interesting case. I'm partic…

>the author is American and she addresses Americans, so American millions should be what she's using

A British million is the same thing as an American million: it is the words "billion", "trillion", etc, that mean different things in British English than in American English.

But that just makes your point more true, namely, the OP probably meant billion.

Re: undefined

#13

Post by watmough »

psykotic wrote: post #3

Beware: This article is filled with factual errors. I was making a list as I went along, and when I afterwards read the comments section I realized I had overlooked many more. That does not by itself affect the validity of the author's overarching thesis, but if someone can't be bothered to get their basic facts straight (e.g. Iceland's EU membership status), it casts serious doubt on their ability to perform the muc…

"I was surprised to learn (and until it is confirmed elsewhere, I remain skeptical) that the UK and Holland threatened to freeze the funds of all Icelander-held bank accounts."

Here's some indication that all the assets in the UK of Landsbanki, were seized under terror laws.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a...

Re: undefined

#14

Post by nohat »

hollerith wrote: post #12
nohat wrote: post #9

200 times GNP? Unlikely. Jared Diamond's book by the same name? That's not very specific if you don't know the name of the book. Is it "Iceland’s ninth century agrarian collapse?" Also she uses million where she probably meant billion (the author is American and she addresses Americans, so American millions should be what she's using). Otherwise, if her facts are correct then it is a very interesting case. I'm partic…

>the author is American and she addresses Americans, so American millions should be what she's using A British million is the same thing as an American million: it is the words "billion", "trillion", etc, that mean different things in British English than in American English. But that just makes your point more true, namely, the OP probably meant billion.

Ah, yes I was confusing them - thanks.

Re: undefined

#15

Post by nohat »

ordinary wrote: post #11
nohat wrote: post #9

200 times GNP? Unlikely. Jared Diamond's book by the same name? That's not very specific if you don't know the name of the book. Is it "Iceland’s ninth century agrarian collapse?" Also she uses million where she probably meant billion (the author is American and she addresses Americans, so American millions should be what she's using). Otherwise, if her facts are correct then it is a very interesting case. I'm partic…

I think you're also confusing millions and billions. For one, there is no such thing as "American millions", millions are the same everywhere.

Yes, I mixed them up. Thanks for the correction.

Re: undefined

#16

Post by arethuza »

psykotic wrote: post #3

Beware: This article is filled with factual errors. I was making a list as I went along, and when I afterwards read the comments section I realized I had overlooked many more. That does not by itself affect the validity of the author's overarching thesis, but if someone can't be bothered to get their basic facts straight (e.g. Iceland's EU membership status), it casts serious doubt on their ability to perform the muc…

The UK used anti-terrorist legislation to freeze Icelandic bank accounts:

http://news.bbc.co.uk/1/hi/uk_politics/7688560.stm

At least we're not fighting about fish this time.

Re: undefined

#17

Post by arethuza »

hollerith wrote: post #12
nohat wrote: post #9

200 times GNP? Unlikely. Jared Diamond's book by the same name? That's not very specific if you don't know the name of the book. Is it "Iceland’s ninth century agrarian collapse?" Also she uses million where she probably meant billion (the author is American and she addresses Americans, so American millions should be what she's using). Otherwise, if her facts are correct then it is a very interesting case. I'm partic…

>the author is American and she addresses Americans, so American millions should be what she's using A British million is the same thing as an American million: it is the words "billion", "trillion", etc, that mean different things in British English than in American English. But that just makes your point more true, namely, the OP probably meant billion.

I'm in the UK and I've never heard anyone using billion in anything other than the standard sense (10^9).

Re: undefined

#18

Post by mech4bg »

nohat wrote: post #9

200 times GNP? Unlikely. Jared Diamond's book by the same name? That's not very specific if you don't know the name of the book. Is it "Iceland’s ninth century agrarian collapse?" Also she uses million where she probably meant billion (the author is American and she addresses Americans, so American millions should be what she's using). Otherwise, if her facts are correct then it is a very interesting case. I'm partic…

There are so many mistakes in this it's not funny. "In 2003 Iceland’s debt was equal to 200 times its GNP, but in 2007, it was 900 percent."? In that case it's gone from 200 times down to 9. This person should not be writing an article about numbers, because they've completely fluffed all of them. Worthless article.

Re: undefined

#19

Post by guelo »

What I didn't understand about the Greece situation is why they caved to the massive privatization and austerity measures when they should have realized that they are the ones in the drivers seat. If Greece defaults it's the German banks who will pay instead of the Greek public. Of course if the German banks fail it will put the whole Euro project in danger, but why should it be up to ordinary Greeks to save the Euro? In any case the austerity measures are doomed no matter what, Greece will default anyway.

Re: undefined

#20

Post by jarin »

guelo wrote: post #19

What I didn't understand about the Greece situation is why they caved to the massive privatization and austerity measures when they should have realized that they are the ones in the drivers seat. If Greece defaults it's the German banks who will pay instead of the Greek public. Of course if the German banks fail it will put the whole Euro project in danger, but why should it be up to ordinary Greeks to save the Euro…

Greece probably depends heavily on international trade and doesn't want to piss other countries off. That way, they can say "well we tried, please don't be mad!"

Not saying it's right or wrong, just that it seems like the reasoning to me.

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