Hard hitting global and local news
Flash Eurozone PMI Composite Output Index at 46.5 (47.9 in February). Four-month low
If you need a break from money supply, jobs, Cyprus, France, Europe in general, or housing (who doesn’t) I have a wonderful visual diversion that is literally “out of this world”. You can Watch the Aurora Borealis from an International Space Station that captures otherworldly famous lights.
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
From the library of genuine news, Reuters reports Cyprus parliament rejects deposit tax for bailout . Cypriot lawmakers overwhelmingly rejected a deeply unpopular tax on bank deposits on Tuesday, throwing into doubt an international bailout for the troubled euro zone member needed to avert default and a banking collapse
Meanwhile, back in the US, USA Today reports jobless rates rose in 25 states, D.C. Unemployment rates rose in 25 states and the District of Columbia in January, but almost half the states posted rates significantly lower than the national 7.9%, the government reported Monday.
Direct robbery of Spanish citizens would net Spain about €120 Billion according to economist Niño Becerra who says ” Cyprus Solution is Feasible, Can Be Extrapolated to Spain ” Santiago Niño Becerra, Professor of Economics at the University Ramon Llull in Barcelona, says a tax as imposed on Cyprus in exchange for bailout, would be possible and that “it is very clean, unlike a freeze all balances, which would be a mess.” Through his twitter account, Niño Becerra says it would be more painful for Cypriots if “the bailout were to occur in the form of public debt.” The Spanish government was quick yesterday to claim the Cyprus solution was not applicable to other countries.
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