Iceland Bankrupt and sale on eBay

From Vicky Fan:

This world financial crisis actually wiped out Iceland. I read this new “Iceland auctioned off on eBay to highest bidder.” In this article it mentioned supposed Iceland wishes Britain and the United States help them, but both of the countries attack by this financial crisis as well. Once Iceland declared bankruptcy then the lawmakers’ last options is to “sell Iceland on eBay.” Iceland will be sold to highest bidder. There is a “buy now” option for 1000 euros. I couldn’t find the auction page on UK’s eBay website, but this is what looked like the webpage before.

The other article “Iceland goes bankrupt” mentions Iceland bankrupt means the country can’t pay back their extreme debt so their currency no longer has any value. Further, the United Kingdom wanted to sue Iceland to get their money back. It also indicates that US’s GOD equals our external debt, so we’re okay. But for the UK and Switzerland are major financial intermediariers with big external debts, so as those countries’ currency starts to devalue, their debts will become worse.

I do think it’s too easy to take out a loan from a bank in US. That’s why this subprime debt hit us badly. Couple years ago, one of my friend brought a house with 100% finance, but last year he lose his job, so the government took his house. Everyone in US has debt, and it’s almost impossible to live without any debt. Especially I am going to graduate next year, with this extremely bad economy, I am considering to go to graduate school instead of wondering around can’t find a job.