Yesterday, the world's media financial headlines shouted that stocks soared because of the 117th solving of the Greek debt crisis even though Spain's economy is collapsing and its leading bank is begging for a bail out. The investors on Wall Street decided to shrug off the looming disaster in Spain and focus on the fairy tale of a debt resolution in Greece. The index went up 140 some odd points.
Today, reality hit. Greece is (or rather has been...) in chaos and the talk of tossing Greece out of the Euro Zone is getting louder. Spain's bond yields are well past the danger zone of 5% and crept past 7%. The market plunged and the gains from yesterday were lost and even oil fell $3.
Appearances may be paper mache but reality is a uranium depleted tank shell.
Even Goron Gekko must be dismayed.
You run into the same problem with crony capitalism that you have with socialism: eventually, you run out of other people's money.
You are better off taking your money to a casino in Atlantic City....
...the food is better.
Wednesday, May 30, 2012
Thursday, May 24, 2012
Greece leaving EuroZone?
...Or possibly being thrown out.
After nearly 180 million euros in bailouts, two and half years of chaos, draconian austerity measures and budget cuts, the EU may finally be thinking about the unthinkable--a Greek exit from the Euro Zone.
Given the austerity cuts the government in Athens was considering, Greece might be better off leaving the European Union on its own. The elections produced, for all practical purposes, a five way tie between parties that are opposed to the austerity measures that are requiring some people to pay to come to work.
Sorry, membership in the European Union is not worth that.
Greece might want to look to Iceland for inspiration. Two years ago, Iceland threw out its government, defaulted on debts, and the Icelandic economy is starting to recover. There is no painless option but returning to the drachma seems to be the least objectionable.
And don't elect bankers for governmental positions!
And of course, don't spend money you don't have.
What will happen with the rest of the Euro Zone? It is hard to say. Italy and Spain are starting to have the same problems that Greece is having and those two countries are not only larger but are the twin pillars of the EU's Mediterranean flank.
The drama in Europe might just be starting....
After nearly 180 million euros in bailouts, two and half years of chaos, draconian austerity measures and budget cuts, the EU may finally be thinking about the unthinkable--a Greek exit from the Euro Zone.
Given the austerity cuts the government in Athens was considering, Greece might be better off leaving the European Union on its own. The elections produced, for all practical purposes, a five way tie between parties that are opposed to the austerity measures that are requiring some people to pay to come to work.
Sorry, membership in the European Union is not worth that.
Greece might want to look to Iceland for inspiration. Two years ago, Iceland threw out its government, defaulted on debts, and the Icelandic economy is starting to recover. There is no painless option but returning to the drachma seems to be the least objectionable.
And don't elect bankers for governmental positions!
And of course, don't spend money you don't have.
What will happen with the rest of the Euro Zone? It is hard to say. Italy and Spain are starting to have the same problems that Greece is having and those two countries are not only larger but are the twin pillars of the EU's Mediterranean flank.
Monday, May 21, 2012
Kronia Pola
Happy Name Day for anyone named Constantinos, Constantine, Kosta, or Dino!
Yesterday was interesting for many reasons--we had a small fire in one store but fortunately no one was hurt. I read about protesters going to Chicago for the NATO summit because the G-8 summit had been moved to Camp David (sounds like someone was nervous...) and I watch with disbelief as the Los Angles Kings (!) advance towards the Stanley Cup Finals. Of course, Greece is about to be thrown out of the EuroZone but we can tackle that tomorrow!
Enjoy the Feast Day of St Constantine even if your name is Fred!
Yesterday was interesting for many reasons--we had a small fire in one store but fortunately no one was hurt. I read about protesters going to Chicago for the NATO summit because the G-8 summit had been moved to Camp David (sounds like someone was nervous...) and I watch with disbelief as the Los Angles Kings (!) advance towards the Stanley Cup Finals. Of course, Greece is about to be thrown out of the EuroZone but we can tackle that tomorrow!
Enjoy the Feast Day of St Constantine even if your name is Fred!
Saturday, May 12, 2012
May 12
The Twelfth of May is always a big holiday on the Haas calender. The defeat of the Citadel and the beginning of the collapse of the moronic radio station I used to work at briefly. Today I eat pizza and cookies and still found time to run two miles at a pretty decent pace.
I have a year to get ready for the PhD program...wherever that might be. I need to strengthen my knowledge of Latin and Ancient Greek and the best option looks like another year at either UNC, UNC-G or back at East Carolina.
It is looking like East Carolina again but that is fine with me. I know the people there and it is the same distance as the other places.
More commuting....ugh.....
As Thucydides once said, "He who has been though the most severe school wins."
Now I have to say it in Ancient Greek!
Never, never, never a dull moment!
I have a year to get ready for the PhD program...wherever that might be. I need to strengthen my knowledge of Latin and Ancient Greek and the best option looks like another year at either UNC, UNC-G or back at East Carolina.
It is looking like East Carolina again but that is fine with me. I know the people there and it is the same distance as the other places.
More commuting....ugh.....
As Thucydides once said, "He who has been though the most severe school wins."
Now I have to say it in Ancient Greek!
Friday, May 4, 2012
I now have a Master's Degree
It did not seem like three years but this day finally arrived. It did not seem like three years (calenders don't lie...) because I enjoyed every moment of it. My only regret is that I live about two hours in every direction from anything interesting...Two hours from ECU, two hours from the beach, two hours from Charlotte and the mountains, etc... It would have been nice to hang out some more with my classmates but sometimes you have to play the cards you are dealt with. I made a 4.0, so I must have played them well.
The next step is the PhD but that will come in August 2013. I have to brush up on Latin and learn Ancient Greek, which is nothing like the modern language. I have no idea where I will go for the PhD but I will worry about that tomorrow...tonight I am celebrating.
I have been studying Latin since the thesis defense on April 2 and I will get to Ancient Greek in a couple of weeks so the PhD quest is all ready underway.....all I can say is "Tomorrow began yesterday..."
Subscribe to:
Posts (Atom)