"Iceland suspended trading on its stock exchange for two days and took control of the country's largest bank -- the third to be placed under its protective umbrella -- on Thursday as it grappled with a banking crisis that is threatening to engulf the entire country"A few days ago a friend emailed and asked about class and what we were covering about the collapsing market. He then suggested I really should be teaching how to live off the land (implying a total collapse of the financial infrastructure).
Apparently he gave the same advice in Iceland where the prime minister said essentially the same thing!
From Bloomberg: Iceland Premier Tells Nation to Go Fishing After Banks Implode
``We are too small a country to sustain such a big banking system,'' he said in an interview. ``We have fantastic resources and an abundance of green energy and we will now utilize that and the other resources we have, the ocean and human capital