Posts Tagged ‘Greece’

  • 16076_12.18_000008995466XSmall

    Calamity Markets

    Dec 20, 10 • 189 Views • Demand, Supply, and Markets, Economic History, Financial MarketsNo Comments

    Some markets are distressed. For close to 30 cents on the dollar, firms that purchase distressed securities have offered to buy loss claims from victims of the Madoff fraud. Instead of waiting for the settlement process to unfold for undetermined amounts,

  • 16040_12.1_000008888770XSmall

    Virginia and Germany

    Dec 1, 10 • 128 Views • Demand, Supply, and Markets, Economic Debates, Financial Markets, Government, International Trade and Finance, Macroeconomic Measurement, Money and Monetary PolicyNo Comments

    “Where…is the justice of compelling a State which has taxed her citizens for the sinking of her debt, to pay…the debts of other states, which have made no exertions whatever?” This quote, from John Steele Gordon’s,

  • 15951_10.17_000010717125XSmall

    Closed Professions

    Oct 17, 10 • 162 Views • Businesses, Demand, Supply, and Markets, RegulationNo Comments

    If you are a Greek pharmacist, you are guaranteed a 35% profit on the drugs that you sell, your store can be no closer than 820 feet from another pharmacy, and you probably paid close to $400,000 for a business license. Called “closed professions”

  • social security...15645_5.15_000011461971XSmall

    The Young Old

    May 15, 10 • 157 Views • Government, RegulationNo Comments

    Having read that Greek fiscal austerity involves raising their average retirement age from 53 to 67 and that their life expectancy is 79.5 years, I thought of the Social Security Act of 1935 and then 2035. When Social Security was enacted in 1935, 5.4%

  • 15627_5.6_000009370095XSmall

    A Contagious Disease

    May 6, 10 • 174 Views • Economic Thinkers, Financial Markets, GovernmentNo Comments

    Seeing the Bloomberg Businessweek headline, “Greek Contagion Spurs Surge in Portugal, Spanish Debt Swaps,” I started thinking about diagnosing fiscal illness, treating it, and contagion. How can we diagnose the illness? The illness