The 'broken window' fallacy

Perhaps Iceland understands it now:

Iceland was supposed to be an example to the rest of the world on how you could give up carbon energy, switch to green energy, and build a vibrant economy.

It would be as if I borrowed tens of thousands of dollars against the equity of my house. I used the money to put in a pool and deck, pave the driveway, upgrade my landscaping, and install enough solar panels to get off the grid. Then I told my friends, neighbors, and any newspapers that would listen, "Look at my prosperity. I have a pool, a deck, a paved driveway, and these lovely flower beds because I stopped paying for electricity and became energy independent."

Enter the housing collapse, and the bills come due. I have a bank-loan that I can't possibly pay back. My prosperity was not attributable to my getting off the grid, but to my spending other people’s money.

But Obama does not.