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February 16, 2009

Ice, Ice, Baby

By Spear's

What’s cool is hot and what cold is even hotter, according to the press release which just landed in Hedgehog’s inbox: ‘Land investment in Iceland represents unprecedentedly good value right now.’

What’s cool is hot and what cold is even hotter, according to the press release which just landed in Hedgehog’s inbox: ‘Land investment in Iceland represents unprecedentedly good value right now.’

I wonder why. The area – Tjarnabuggd farm village in southwest Iceland – has hot water from geysers, cold water from springs, the Northern Lights for entertainment, and hopefully armed guards to keep away the (so far peaceful) civil unrest. (See some anti-government protests here.)

No-one could have a reasonable objection in principle to Iceland – we’re supposed to be getting back to nature (though flying there every other weekend can’t help global warming) – but their valueless currency and effective bankruptcy are hardly inducements.

For the moment, I’m keeping my Icelandic propert portfolio in the deep freeze.

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