For some reason, support for the Independence Party has been on the rise ever since they purportedly brought about Iceland’s downfall. To figure out why, we decided to follow the money. Here you have people’s general economic outlook graphed along side support for Iceland’s Independence party. Starting in 2001, the Expectations Index begins a steady ascent indicating that people are feeling pretty good about their economic outlook. At the same time, the Independence Party is enjoying good support. Well, that’s a no-brainer. Then, in May 2007, Icelanders realize the economy smells fishy and the Expectations Index begins a rapid descent, bottoming out in November 2008. Okay, so Iceland’s banks default, the stock market crashes, and people lose a lot of money. Icelanders aren’t too positive about their future economic well-being and they aren’t too thrilled with their government either. Well, that’s also a no-brainer. Interestingly though, by November, just one month after the crash, it seems people are already starting to look up. Perhaps at that point things were so bad there really was no way to go, but up. But, what’s more interesting is that support for the Independence Party is also looking up. Hmmm…
http://datamarket.com/is/data/set/wg2/vaentingavisitala#display=charts&axis2=yf5&ds=wg2/yf5|6yi=d&m=5a,5b
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