Bloody Vikings and Their Financial Collapse; Spam, Spam, Spam, Spam

This month’s Vanity Fair features a quirky and fascinating article about Iceland and its evolution from a sleepy fishing culture to a deluded international banking culture to a failed culture. This longish article is worth reading.

Michael Lewis looks at this absurd situation by visiting Iceland and just talking to people and his giving off-hand observations about this small country full of overeducated Norsemen who seem to personally know everyone else in the country,and have taken to burning their Land Rovers for the insurance money.

I am not sure what point Lewis is trying to make, he seems to be trying to comfort us by making the claim that Iceland’s situation is different from the rest of the world, and their collapse is somehow related to uniquely Icelandic foibles. In other words, don’t worry, be happy.

For a little lighter entertainment,

Another, much briefer article in this month’s Vanity Fair documents the accuracy of Thomas Freidman’s previous predictions.

That’s my story and I’m sticking to it.