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Iceland — named the world’s best country to live in by the U.N. last year — is facing total financial ruin in the fall-out from the global credit crisis. Residents are hoarding food and the currency is now rated just above Zimbabwe.
Business Buzz Dilbert, the Onion and even Paul Bernanke all called the current economic crisis long before it happened, though in very different ways. If the 20-something writers at the Onion saw this coming, why not the Fed?
Business Buzz Bill Gates’ recent call for a “kinder capitalism” meets skepticism online. “We have to find a way to make the aspects of capitalism that serve wealthier people serve poorer people as well,” he told listeners at Davos. Will the Invisible Hand bring basic sanitation to the slums?
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