At the peak of the so-called great success of neoliberal economics, in 2007, right before the crash, non-supervisory workers were at wages considerably lower than in 1979, when the neoliberal assault was taking off. That perfectly naturally causes resentment and fear, and combines with a tendency to blame the most vulnerable.
Iceland is capitalist social democratic, rather like the Nordic countries generally. The capital had a mayor who is an anarchist, but the city has been nothing like that. In fact a few years ago it was super-neoliberal, which led to the crash.
A default of the US government would not only be very harmful here, it would probably send the country back into deep recession, but it just might crash the international financial system.
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