Posts Tagged ‘Greece’

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    Euro Problems

    May 10, 11 • 297 Views • No Comments

    This country had a national railroad that received $100 million euros a year in revenue but had expenses of $700 million. All public jobs paid an average of 3 times what the private sector paid. Beauticians, musicians and radio announcers were retiring with...  [read more]

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    A Debt Tour

    Feb 20, 11 • 327 Views • No Comments

    Calling it “financial disaster travel journalism,” author Michael Lewis (The Blind Side and The Big Short) takes us to Iceland, Ireland, and Greece in 3 Vanity Fair articles that are wonderful. Comparing Iceland to Ireland, he tells us, “But...  [read more]

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    Calamity Markets

    Dec 20, 10 • 320 Views • No 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,...  [read more]

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    Virginia and Germany

    Dec 1, 10 • 218 Views • No 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,...  [read more]

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    Closed Professions

    Oct 17, 10 • 277 Views • No 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”...  [read more]