News, Conversation, Weather, Doctor

Kreppa – crisis (the current economic crisis is sometimes referred to as simply "kreppa")
Heimur - world
Heimskreppa - world-wide crisis
Orkukreppa - energy crisis
Samleikakreppa - identity crisis
Stjórna - govern, regulate, manage, run, conduct an orquestra
Stjórnarkreppa - government crisis
Að detta - to fall (like tripping)
Skuld - debt
Að falla í skuld - to fall into debt. (You can't say "detta í skuld", no one says it and it sounds weird.)
Villa - mistake, error, delusion, disorientation, heresy
Áreiðanleiki - Dependability
Hreinn - clean, pure, straightforward,
Hreinskiptni - straight-forwardness
Framsækni - progressiveness
Vöðvabólga - fibrositis, muscular rheumatism, muscle strain, myalgia
Bein - bone
Himna - membrane, film
Bólga - inflammation, swelling
Beinhimnubólga - periostitis
Liðagigt - arthritis
Mal - car purr
Snjór, Snær - snow
Hjarn - crust of snow, snow that does not melt in summer
Mjöll, Nýsnævi - new-fallen snow
Fönn - drifted heap of snow, snow-wreath, snow that does not melt in summer
Lausamjöll - powder snow
Krap - slush
Snjókoma and fannkoma - snowfall
Kafald - thick fall of snow
Bylur, Hríð - snowstorm
Drífa - snow-drift
Él - a sudden fall of snow, hailstorm, hail
Fjúk - drift, drifting snow-storm
Hraglandi - sleet, cold drizzling shower
Kóf - thick fall of snow
Ofanbylur - snowfall in a wind
Skafrenningur - drifting snow
Snjómugga - a small snowfall
Hundslappadrífa - very heavy snowfall in calm weather, large snowflakes

Conversation:
Ekki er hægt að birta myndina því hún inniheldur villur. - It's not possible to display the image to you because it contains errors.

Ég læri á ljóshraða / Ég er að læra á ljóshraða. - I am learning at the speed of light.

Þetta er hrein og bein andskotans óvirðing. - This is bluntly put damn disrespect.

Phrases/Idioms:
Ég skal hafa það á bakvið eyrað - I will keep that behind my ear. (I'll keep that in mind, I'll remember that).

Most words were from conversations but some were from the news.

News

Lífeyrissjóður - pension fund
Kjölfesta - ballast
Orka - power, energy
Kúnni - customer
Kunnur - well-known
Stefna - head, summon, subpoena
Halda - believe, think, maintain
Fyrr - earlier, before
Öndun - breathing, respiration
Vél - machine
Læknir - doctor, physician
Gjörgæsla - intensive care
Líðan - health, condition
Stöðugur - constant, incessant, steadfast
Meðvitund - consciousness, awareness
Meðferð - handling, therapy, treatment
Strax - right away, immediately
Sjúkfraflutningamönnum - hospital staff. ("people who move the sick people... or just those who work at the hospital...")

Slight follow-up to the previous news article:

Haldið sofandi eftir að hafa drukkið stíflueyði (Kept sleeping after having drunk drain fluid)

Manni sem drakk stíflueyði í Húsasmiðjunni við Skútuvog fyrr í kvöld er haldið sofandi í öndunarvél á Landspítalanum. (A man who drank drain cleaner in the hardware store on Skútuvogur earlier tonight is kept sleeping in a respirator in the hospital.)

Að sögn vakthafandi læknis á gjörgæslu er líðan mannsins stöðug. (According to the doctor on shift in the intensive care the condition of the man is stable.)

Hann var með meðvitund þegar hann kom á spítalann og var honum strax veitt viðeigandi meðferð af sjúkfraflutningamönnum. (He was conscious when he came to the hospital and he was immediately given appropriate treatment by the hospital staff.)

Sjúkrabíll var kvaddur að versluninni um klukkan hálfníu í kvöld en það voru starfsmenn verslunarinnar sem komu að manninum eftir að hann hafði drukkið efnið. (An ambulance was summoned to the store at about eight-thirty at night but it was the store personnel who came to the man's aid after he had drunk the substance.)

All the words were from the news.

Conversations, idioms/phrases

Svartur - black
Galdur - sorcery, magic, conjuring trick, trick
Snefill - trace
Efni - matter, substance, material, situation, means, fortune, dope/hash
Snefilefni - trace element
Árás - attack
Sveit - district, region, country/rural area, team
Óvinur - enemy
Turn - tower
Stöðva - stop
Vinsæll - popular
Klassískur - classic, classical
Spilakassi - slot machine, one-armed bandit, fruit machine
Ávani - bad habit, addiction
Binda - tie, bind
Síðari - latter, longer
Síður - long
Tungl - moon
Jörð - earth, ground, soil, farm, estate
Meira - more
Flugmaður - pilot
Reyndur - experienced, skilled
Áskrifandi - subscriber
Yfirlit - survey, summary, overview
Hvenær - when
Lita - colour
Padda - insect, vermin, rascal, cheat
Veiða - catch, hunt
Hófur - hoof
Hóf - moderation
Truflun - disturbance, mental confusion

Conversations:
Bara svona sjá hvernig þetta virkar (just seeing how this works)

Phrases/Idioms:
Ég kem alveg af fjöllum - I come completely from the mountains (I have no idea what you're talking about / what's going on)
I den - "back then/in the old days" (common Danish slang)

Some words were taken from conversations, some from an online letter site, and some from an online game site.

News, Weather

Current geography and weather and stuff.

Hafís - Sea ice
Óveður - Storms
Skriður - Landslides
Snjóflóð - Avalanches
Jarðskjálftar - Earthquakes
Flóð - Floods
Eldar - Fires
Eldgos - Volcanoes
Sjávarflóð - Flood tides
Sandfok - Sand drifting
Hlaup - Debacle
Spá - predict, forecast
Vestan - from the west
Jökull - glacier, ice cap
Föstudagur - Friday
Grennd - neighbourhood
Í grennd - nearby
Birta - show, reveal, publish, appear
Laugardagur - Saturday
Norðvestur - northwest
Suður - south, southwards
Fallegur - beautiful
Frétt - news, news broadcast
Ljósmyndari - light picturer (photographer)
Ljósmyndamaður - light picture man (photographer)
Myndatökumaður - camera man (a person who shoots videos)
Mökkur - cloud of smoke
Slysadeild - casualty ward
Stífla - dam, blockage, clog, jam
Eyða - destroy, exterminate, spend
Stíflueyði - drain cleaner
Húsasmiður - carpenter
Smiðja - workshop
Miðja - middle, center
Húsasmiðjan - hardware store
Vaka - be awake, stay awake, come to the surface, surface
Slökkvilið - fire department
Starfsmaður - employee, personnel
Sjúkur - sick
Sjúkrahús - hospital
Vettvangur - place, scene
Ræða - speak, talk, discuss
Innyfli - intestines, entrails, guts
Baneitraður - deadly poisonous

Fluttur á slysadeild eftir að hafa drukkið stíflueyði (Move to casualty ward after having drank drain cleaner)

Maður var fluttur á slysadeild um klukkan hálfníu í kvöld eftir að hann hafði drukkið stíflueyði í Húsasmiðjunni í Skútuvogi. (A man was moved to the casualty ward at about eight-thirty at night after he had drank drain cleaner in a hardware store in Skútuvogur [Skútuvogur is a street name].)

Að sögn vakstjóra hjá slökkviliðinu voru það starfsmenn Húsasmiðjunnar sem kvöddu sjúkralið á vettvang en maðurinn var mjög veikur enda um afar sterkt efni að ræða sem brennir innyfli og getur verið baneitrað. (According to the Fire Department's report it was the hardware store personnel who summoned the hospital to the scene but the man was very ill as this is a very strong substance which burned his intestines and can be deadly poisonous.)

Some words were taken from conversations and some from the news.

Recipe, Food

Stoppa - stop, stuff
Egg - egg
Hvítur - white
Púður - (something) powder
Púðursykur - powdered sugar
Rjómi - cream
Súkkulaði - chocolate
Lítill - small, short, little
Húð - skin, coating, plating
Súkkulaðihúðað - Chocolate coated
Lakkrískurl - chopped up liquorice pieces
Þeyta - whip
Stífþeyta - Beat/whip (until stiff)
Saman - together
Poki - sack, bag
Blanda - blend, mixture
Varlega - carefully
Ásamt - along with, in company with
Bæta (something) við - Add something
Alveg - completely
Hverfa - vanish, disappear
Saxa - chop into pieces, mince
Setja - to put, place
Teskeið - teaspoon, coffee spoon
Plata - plate, sheet of something
Bökunarpappír - wax paper
Baka - bake
Mínúta - minute

EDIT: I tried this recipe and it didn't work for me, however I messed up a little too. Make sure your chocolate isn't pre-made into shapes (like bars that you can break off or chocolate chips) because otherwise it won't melt in the oven and the liquorice will melt before it does. Also salmiac liquorice tastes disgusting when melted. I also think I didn't beat the eggs for long enough.

3 eggjahvítur (egg whites)
200 gr. púðursykur (8/10th cup powdered sugar)
150 gr. rjómasúkkulaði (bar of milk chocolate)
2 litlir pokar súkkulaðihúðað lakkrískurl (little bags of chocolate-covered liquorice)

Stífþeytið eggjahvíturnar, bætið púðursykrinum við og þeytið áfram þar til sykurinn er alveg horfinn. (Beat the egg whites until stiff, add the powdered sugar and mix together until the sugar is completely dissolved/vanished.)

Bætið söxuðu súkkulaði og lakkrískurli við. (Add the minced chocolate and liquorice bits together.)

Setjið með teskeið á plötu með bökunarpappír og bakið við 175° í 12-14 mínútur. (Set a teaspoon of the mix onto a cookie sheet with wax paper and bake for 175°C/347°F for twelve to fourteen minutes.)

Words were all taken from the recipe.

News, Geography

Á leiðinni - on its way
Flóð - flood, high tide
Hefja - commence, lift, raise
Sýsla - administrative district
Sýslumaður - district/county magistrate, chief legislative official in each administrative district
Byrja - start, begin
Ljósta - strike, hit
Ljós - clear, fair, blonde
Stynja - groan, sigh
Bresta - crack, break, come on suddenly, spring up, lack
Skammur - short distance/time
Millibil - space, interval
Leyti - respect, part, time
Kvöld - night
Matur - food
Kvöldmatar - supper
Stærðargráða - order of magnitude, dimensions
Nauðsynlegur - necessary
Rýma - vacate
Bær - farm, town
Meta - evaluate, appraise
Hlaup - running, run, sprint, aspic, jelly
Liggja - lie, be located, stand, lead, fall,

Nýtt flóð að hefjast (New flood has started)

Það er nýtt flóð á leiðinni úr Eyjafjallajökli, segir Kjartan Þorkelsson, sýslumaður á Hvolsvöllur. Flóðið er rétt að byrja og ekki ljóst á þessari stundu hversu stórt það er. (It is a new flood on its way from Eyjafjallajökull, says Kjartan Þorkelsson, Legislative Official of Hvolsvelli. The flood is just starting and we've not hit on how large it is.)

Tvo flóð brustu á með skömmu millibili í nótt og um kvöldmatarleytið í gær kom svo flóð sem var af þeirri stærðargráðu að nauðsynlegt þótti að rýma bæi úr Fljótshlíðinni og í Landeyjum. (Two floods sprung up within a short timespan in the night at about suppertime yesterday, flooding came to such magnitude as to be regarded as necessary to vacate town out of Fljótshlíð and Landeyjar.)


I trusted myself about zero percent on translating the last paragraph, while the rest of these are more like fifty percent... So you can read the last one at the link itself. Words were taken from the news.

Internet

These vocabulary words are taken from Livejournal.

Aðgerð - operation, progress, measures, steps, repairs, gutting fish
Hópaðgerðir á valin svör - take action on selected comments
Opinbera - disclose, reveal
Rusl - trash
Eyða sem rusli - mark as spam
Svara - answer, respond, reply
Dagbók - diary, journal, ledger
Kenniorð - Tags/labels
Bættu - improve, better, mend
Í stafrófsröð - in alphabetical (order)
Notkun - use, application
Skilgreina - define
Eiginleiki - quality, characteristic
Boð - message, offer, bid, command
Skilaboð - message
Vinir - friend
Sía - sieve, filter, sift
Stofna - found, establish, set up
Flakk - wandering
Færni - skill
Grunn - shallows, shoal, bank
Fæðingardagur - Birth date
Minnisverður - noteworthy, memorable
Eftirfarandi - following
Geymsla - storage, storage room
Pláss - room, space, village, square, class (on a ship, train, etc)
Reikningur - mathematics, invoice, account, charge account