Tag: social-media

August 15, 2012 0

Syracuse New York Headed For Bankruptcy, 100% Certain

Please consider this news headline which I openly mock: Expert says bankruptcy for Syracuse is unlikely, but mayor should explore option While the financial situation in the city of Syracuse hasnâ€™t been described as desperate yet, Mayor Stephanie Miner has asked for some legal expertise on municipal bankruptcy. The signs of the cityâ€™s financial problems have been evident for several years as city employees accept wage freezes and fire and police departments see staff reductions. The city will use an early payment from Albany to help keep the budget from dipping into dwindling reserves.

August 15, 2012 0

Germany 6% Current Account Surplus a "Threat to the Continent" Says EU Commission; Solution is Gold Coupled With Eurozone Breakup

By News Desk

Originally posted here: Germany 6% Current Account Surplus a "Threat to the Continent" Says EU Commission; Solution is Gold Coupled…

August 13, 2012 0

Gary Shilling: US in Recession Now or Within 3 Months, Deleveraging Will Take 5-7 More Years

By News Desk

Gary Shilling: US in Recession Now or Within 3 Months, Deleveraging Will Take 5-7 More Years In a Daily Ticker Interview with Henry Blodget, economist Gary Shilling makes the case the US is already in recession. "We’ve had three consecutive months of declines in retail sales," says Shilling, president of A. Shilling & Co., an economic research and forecasting firm

August 12, 2012 0

Europe’s Most Dangerous Politicians: Angela Merkel, Francois Hollande, David Cameron, Jean-Claude Juncker, Jose Barroso, Mario Monti, Herman Van…

By News Desk

Der Spiegel has published an inane article about Europe’s 10 Most Dangerous Politicians . Top 10 List Markus SÃ¶der , Bavarian Finance Minister: The politician from the Christian Social Union, the conservative sister party to Chancellor Angela Merkel’s Christian Democratic Union, is known for his tub-thumping rhetoric and has stepped up a gear in the euro crisis with vitriolic comments about Greece

August 12, 2012 0

Hermosa Beach Police Chief and Councilman Fishman Defend $100,000 Meter Maids on Grounds "When You Outsource, You Take Away Union Jobs"

By News Desk

Please consider Hermosa Beach Meter Maids Make Nearly $100K When contemplating the many reasons cities in California and elsewhere are venturing closer to bankruptcy, look no further than the relatively lucrative and often-unjustifiable salaries bestowed on municipal employees â€“ and the lofty pension benefits attached to the high pay. One of the latest examples comes from the California coastal city of Hermosa Beach, where some community service staffers who collect money from parking meters and manage their operations â€“ positions once widely known as â€œmeter maidsâ€â€“ are making nearly $100,000 a year in total compensation, according to city documents. There are 10 parking enforcement employees for the 1.3-square-mile beach city southwest of downtown Los Angeles, and they pull down some disproportionate compensation, considering their job functions.

August 12, 2012 0

Ponzi Bank Financing of "Wealth Management Products" in China Backed by Dubious Real Estate Projects; "Golden Elephants", Poway, …

By News Desk

Financial Times Alphaville picked up on the story in Chinese Banksâ€™ Weapons of Mass Ponzi We wrote last week that Chinaâ€™s shadow banking system was reflecting and, to an extent, contributing to a growing liquidity risk which in turn is being exacerbated by net capital outflows. Since then, there have been some interesting revelations on the domestic liquidity management, especially in shadow banking, and especially especially in wealth management products

August 10, 2012 0

Reader Question: Could Obama Balance the Budget by Getting the Wealthy to Pay Their "Fair Share"?

By News Desk

In turn, I give credit to Michael Snyder for his writeup Anyone With Half A Brain Should See That A Gigantic Economic Collapse Is Coming Snyder, referencing Ron Paul and Tony Robbins, writes … For the past four decades, the United States has been enjoying a 15 trillion dollar party. All of this borrowed money has enabled us to live far, far beyond our means

August 10, 2012 0

Problem in Europe is Arithmetic, Not Confidence; Why the Eurozone Cannot Possibly Survive Intact

By News Desk

Problem in Europe is Arithmetic, Not Confidence; Why the Eurozone Cannot Possibly Survive Intact Via email, Michael Pettis at China Financial Markets makes a compelling case why Spain is destined to leave the euro. For ease in reading, I added the subtitles in bold

August 9, 2012 0

Complete Absurdity in Greece: ECB Prints Euros to Give to Greece to Make Interest Payments to ECB

By News Desk

No entity is willing to stand up and say the obvious, that Greece is insolvent and cannot and will not pay back its debts. Moreover, in spite of an ECB mandate that prohibits direct financing of governments, the ECB is doing just that. Simply put, the ECB is printing euros, to give to the Greece, so that Greece can make interest payments to the ECB on maturing bonds

August 8, 2012 0

Tax Hike Indigestion in France

By News Desk

As a result "Les Riches" Have Tax Indigestion and are looking to move outside France. â€œWeâ€™re getting a lot of calls from high earners who are asking whether they should get out of France,â€ said Mr. Grandil, a partner at Altexis, which specializes in tax matters for corporations and the wealthy