Iceland’s coalition government just fell into squabbling over…well, pretty much everything, it seems, but mostly whose economic policy sucks more and who should really run the country.

That sounds so familiar.

Anyway, yes.  This has been in the works for a while now.  The collapse of the Icelandic government should come as no surprise.  When 10% of your GDP gets wiped off, people get pissed.  There is a lesson in that, I think.

Keep an eye on the Baltic states and Hungary too.  Oh, and Italy.  The Italian government is pretty brutal, for a democracy, but all that means is that people are going to be even more pissed off and violent when they finally decide to act.