Financial crisis aftershocks

The search for an authentic horoscope for Iceland has been ongoing for some years. The monumental financial collapse that hit Iceland in the autumn of 2008 was not in line with what had been predicted based on the horoscope most astrologers have adopted for Iceland. This horoscope is based on the Ceremony for the new Republic on June 17, 1944, 2:00 PM at Thingvellir, giving 9° 30' Virgo rising. More recently, we have been studying a horoscope based on the close of the Referendum to separate from the Danish Crown and then to establish a Republic, at midnight on May 23, 1944 in Reykjavik, giving 19° 52 Scorpio rising. It is interesting to examine these two charts with respect to three critical events beginnig with the crash.

Event 1. The Icelandic banking system collapsed in September/October 2008, during the international financial crisis. This was a major shock to the system. A critical time was 4:00 pm on October 6, 2008 when the Prime Mininster addressed the nation, saying the nation was at risk of financial collapse and that emergency legislation had been passed in the Parliament to protect the customers of the banks. He signed off with the statement "God Bless Iceland." In the months that followed, the unemployment rate rose from 1 percent to almost 10 percent.

Event 2. Following the banking collapse, protests began to emerge in late October 2008. These intensified in early 2009 and had turned into riots in the second half of January 2009. The the center-right government resigned around noon time on January 26. A temporary left-of-center government was formed on February 1.

Event 3. On April 25, 2009, parliamentary elections were held and the left-of-center government received a majority and a mandate for reform. Since then a lot of effort has been put into resolving the after effects of the crisis. In 2009, the government was busy trying to solve the many difficult problems, including cutting expenditures, restoring the banking system and international payments system, negotiating with international creditors and their governments and dealing with the surge in defaults and bankruptcies of firms and households. For most of 2010, however, things have seemed to be at a standstill in many respects. Due to the environmental emphasis of the government, many large scale projects have been caught up in red tape and funding difficulties. Now, some 20 months into the 4 year term of the government, many companies have defaulted and households are burdened with reduced incomes and higher debts. While the unemployment rate is down to around 8 percent, it is mostly due to the emigration of 2-3 percent of the labour force to neigboring countries. The situation has become quite difficult for many and again protests have emerged. Moreover, the political tensions of opposing parties in parliament have increased. Last night, the tension produced mass protests that again look like the situation in early 2009, but now involving more people. While the situation remained manageable there was violence with rocks being thrown at the parliament building. The situation was on the verge of tipping into a full blown riot. The government insists it is managing the situation, but the tension is there.

Attached are the transits in both of the charts for these three major recent events. Let us now compare the period and transit dynamics in them.

Event 1. - Banks collapse on October 6, 2008

Ceremony - Virgo rising chart.
Saturn/Mercury period. Major period lord, natal 6th lord Saturn is conjunct natal 12th lord Sun and afflicts MEP of 10th, 12th, 4th and 7th houses. This suggests financial stability, conflict and health issues in the national life during this major period. In the sub-period of 1st lord Mercury in the 9th house, luck would be expected in the national life. [Even if everything is relative, this is the problem with this chart for these events]. Transit Rahu at 22° Cancer and 11th house, just ending its stationary placement at 24° Cancer, where it is conjunct 8th lord Mars, is consistent with signficant problems. Transit Saturn at 21° Leo and 12th house in aspect to sub-period lord natal 1st lord Mercury in 9th house. However. this aspect is not close enough, given the natal strength of Mercury. Transit 11th lord Jupiter at 19° Sagittarius and 4th house is, however, well placed and happy. Iceland managed to get through the banking collapse without major dislocations in the first months afterwards. Average fit.

Referendum - Scorpio rising chart.
Mercury/Mars period. Major period lord, Mercury, is 11th lord of income in the 6th house of conflict. Its dispositor, a debilitated Mars, is natally involved in a very difficult conjunction with Rahu in the 9th house. This natal combination is perhaps the strongest indication, including the bad placement of Mercury, for Iceland experiencing a major financial crisis with international ramifications. In particult, the Mars sub-period would be very difficult. Transit Rahu-Ketu in MEP of 3rd and 9th house is not helpful. Even if the nodes are not stationary, they are not helpful while in applying aspect. Transit 12th lord Venus in MEP of 12th house, from where it aspects the 6th house, further undermines the financial stability. Transit sub-period lord Mars as 6th lord in the 12th house under afflicting aspect from natal Mars, shows the very difficult time for financial stability. Very good fit.

Event 2. - Government falls on January 26, 2009.

Ceremony - Virgo rising chart.
Saturn/Mercury period. Major period lord, natal 6th lord Saturn is conjunct natal 12th lord Sun and afflicts MEP of 10th, 12th, 4th and 7th houses. This suggests financial stability, conflict and health issues in the national life during the Saturn major period. In the sub-period of 1st lord Mercury in the 9th house, luck would be expected in the national life. Transit Rahu at 15° Capricorn conjunct natal 12th lord Sun at 12° Capricorn and 5th house, would suggest problems for the government, more so with transit Moon and Jupiter also afflicted by these planets. Transit 8th lord Mars at 28° Sagittarius and 4th house afflicts natal 4th lord Jupiter at 29° Cancer and 11th house, undermining communal harmony. Transit Saturn at 27° Leo and 12th house is badly placed in house of losses, from where it aspects natal 2nd lord Venus at 29° Aquarius and 6th house of conflict. Iceland managed to get through the banking collapse without major civil uproar in the first months afterwards, but then all hell broke lose. Not good enough fit.

Referendum - Scorpio rising chart.
Mercury/Mars period. Major period lord, natal Mercury, is 11th lord of income in 6th house of conflict. Its dispositor, Mars as 6th lord of conflict, is involved in a difficult conjunction with Rahu in the 9th house, suggesting manipulation and conflict in a foreign context. The Mars sub-period is expected to be very difficult. Transit sub-period lord Mars as 6th lord of conflict is weak in old age in the 2nd house of communal harmony where it is in afflicting aspect to the 2nd lord Jupiter. Transit Rahu-Ketu are stationary in the MEP of the 3rd and 9th houses. While the situation remained very difficult, the strain began to die down after the nodes exited the MEP - coinciding with the change of government. Transit 12th lord Venus at 29° Aquarius and 4th house in opposition with 4th lord Saturn in the 10th house, suggesting strain on communal harmony. Transit 10th lord Sun in applying conjunction with transit Rahu. Very good fit.

Event 3. - Major protest on October 4, 2010.

Ceremony - Virgo rising chart.
Saturn/Ketu period. Major period lord, natal 6th lord Saturn is conjunct natal 12th lord Sun and afflicts MEP of 10th, 12th, 4th and 7th houses. This suggests financial stability is lost and becomes a major problem in the national life. In Ketu sub-period, things would be expected to get worse, especially as Ketu is in the MEP of the 5th house and harms especially the 11th house of income. Transit Ketu is now in the MEP of the 10th house, under an aspect of transit 6th lord Saturn. Transit 8th lord Mars at 19° Libra and 2nd house has been conjunct transit 2nd lord Venus at the time of the riots. Transit 6th lord Saturn and transit12th lord Sun were conjunct around 14° Virgo prior to the protest. Good fit.

Referendum - Scorpio rising chart.
Mercury/Rahu period. Major period lord, natal 11th lord Mercury, is in the 6th house. Its dispositor, natal 6th lord Mars, is involved in a difficult conjunction with FM Rahu in the 9th house. The Rahu sub-period would also be quite difficult. Transit Rahu-Ketu are now moving out of the MEP of 2nd and 8th houses. However, transit 6th lord Mars and transit 12th lord Venus are conjunct in the MEP of 12th house. With this aspect being shortlived, we could thus expect the sudden spike in tensions to recede rather quickly. Very good fit.

Conclusion
The Referendum - Scorpio rising chart is still outperforming the Ceremony - Virgo rising chart. Going forward we may note that in late 2010 and early 2011, transit Ketu will go stationary at around 8° 47' Gemini. In the Virgo rising chart this would be expected to be a difficult time for the government. However, in the Scorpio rising chart, less problems are expected at that time. Assuming it is the authentic chart, this should be considered the likelier outcome.