Posts Tagged ‘Greece’

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    Calamity Markets

    Dec 20, 10 • 248 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 • 176 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 • 214 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]

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    The Young Old

    May 15, 10 • 225 Views • No 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%...  [read more]

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    A Contagious Disease

    May 6, 10 • 229 Views • No 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...  [read more]