March 20, 2013
Record Corporate Insolvencies in Australia
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Hard hitting global and local news
Hard hitting global and local news
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Cyprus Conservative Opposition Parliamentary Member Says "If No Solution Soon, Print Cyprus Pounds and Abandon the Euro" Posted by Michael Shedlock at 11:28 PM Disclaimer: The content on this site is provided as general information only and should not be taken as investment advice.
Diana Olick has an interesting article called Defying Gravity: Miami Condos Soar Again During the height of the housing boom, some likened the feverish flipping game in Miami’s condominium market to a circus. The circus is back, and more high-flying than ever
Staged Vote? In spite of the 1-Not Present, 36-No, 19-abstentions vote in the Cypriot parliament, one really has to wonder if this was a staged vote to show solidarity with Cypriot citizens, with some sort of face-saving deal already approved for tomorrow (in which the Cypriot parliament votes yes by a slim majority in return for minor concessions from the ECB and Germany). In short, it is unclear if we really know what is happening in the Cypriot parliament.
Too many takedowns to count for David Rose who doesn’t realize that short-term fluctuations in temperature tell you little about long term trends. The latest case is that according to one computer model, the temperature sequence ending in 2012 is close to the bottom edge of the statistical uncertainty range, a point where there’s only supposed to be a 5% chance that random variation produces a temperature below the modeled range.
Speculation on Cyprus is rampant. It is difficult to separate fact from fantasy as reports as to what is happening vary widely. For example Ekathimerini reports ” Cypriot Finance Minister Michalis Sarris is about to be replaced upon his return from his current trip to Moscow, Kathimerini understands, as he no longer enjoys the support of President Nicos Anastasiades following his handling of the crisis
Here’s one for the thick book of EU lies and hypocritical statements " Deposit guarantees only protect against bankruptcy, not levies " Guarantees on deposits in the European Union are only there if a bank completely collapses, and does not protect from fiscal steps decided by parliaments, the European Commission said on Tuesday, defending a decision to impose a levy in Cyprus. Excuse Me! What are the Cyprus banks, if not shutdown, collapsed, and bankrupt
EU officials are now swarming over Cyprus threatening to cut off funds to Laiki , Cyprus’ second largest bank if the deal does not go through. Nonetheless, Cypriot politicians are balking because they know what will happen to those who go along with EU blackmail threats
The pertinent question for today is “How many lies will people believe?” I ask that because a German government spokesman says The compulsory levy to pay the depositors in Cyprus, was a special case as Merkel guarantees German deposits for the first time since 2008. The compulsory levy to pay the depositors in Cyprus, is a “special case”, says the Chancellor.
Inquiring minds are wondering about the terms of the bailouts imposed upon citizens of Cyprus. I am one of them. In Cyprus Details: Blackmail, Bulldozer Threats, Bank Holiday to Tuesday; Reflections on Arrogance and Idiocy , I made the claim that Cyprus depositors need not be liable for any of this