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How High Oil Prices Will Permanently Cap Economic Growth September 24, 2012

Posted by proeconomia in Main, News on Greece, On the crisis, Opinion.
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An interesting article from Bloomberg, worth your time reading it. Especially relevant for economies like Greece who are energy and import dependent.

Germany’s Currency Nostalgia Is Badly Off the Mark September 12, 2012

Posted by proeconomia in Fiscal policy, Main, Monetary policy, News on Greece, On the crisis, Opinion.
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An articlefrom Clive Cook @ Bloomberg, who has given us some interesting opinions in the past. Have a look at it. Here is an interesting excerpt of the truth of the thing:

“… But surrendering the deutsche mark (and before that, fixing their currency’s value relative to other European currencies) gave them an export performance and enormous balance-of-payments surpluses that they otherwise wouldn’t have enjoyed. And let’s not forget those surpluses were recycled as unsafe lending to Europe’s weaklings. It takes bad lending as well as bad borrowing to build a debt crisis. The bailouts that German taxpayers resent so bitterly were necessary partly to protect Germany’s undercapitalized banks from the consequences of their own actions. So far, the division of the burden of adjustment between bad borrowers and bad creditors has been much to Germany’s advantage. The Irish economy was crushed to keep creditors whole. Ask the Irish who has been treated unfairly.”

The 5% redemption tax! September 11, 2012

Posted by proeconomia in Fiscal policy, Main, News on Greece, On the crisis, Opinion.
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This is an article (in Greek) that describes the following situation: those that have been tax evading for any number of years, or are having high value real estate, cars, jewelry, stocks, bonds, etc. that cannot be justified according to their tax return statements are now welcomed to declare them for a 5% flat redemption tax and get away with it. Yes, 5%! Irrespective of the amount of income or wealth! That is, those s@ckers declaring and paying up their dues are now being called to witness their own stupidity for not doing the same. This happens at the same time when housing is taxed to death, wages are falling, and an increase of the retiterment limit is discussed as a measure to “tidy up” the economy. If anyone has seen such a (forgive me father for I have sinned!!!) policy approach in a paper or a textbook – that shows that such a measure provides any incentive not to cheat again – kindly alert us so that we can post it here and understand such a move better.

Jobless Greeks Resolved to Work Clean Toilets in Sweden September 7, 2012

Posted by proeconomia in Main, News on Greece, On the crisis, Opinion.
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The article is from Bloomberg, worth your time reading it. Possibly you will now comment on the situation or you are still going to be an outside observer? Here is what the main actor in this story has to tell about Sweden: “I knew they were very organized,” he said. “Everyone pays their taxes and it’s fair. There is no cheating.”” You were saying?

In Stadium Building Spree, U.S. Taxpayers Lose $4 Billion September 5, 2012

Posted by proeconomia in Fiscal policy, Main, On the crisis, Opinion.
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Read this article from Bloomberg as it interelates with many issues of interest. For our Greek readers think about a couple of major league soccer teams and their stadium construction. Do you see any similarities?!

Two links from N. Economides @NYU September 5, 2012

Posted by proeconomia in Fiscal policy, Main, Monetary policy, News on Greece, On the crisis, Opinion.
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Panos Evangelopoulos has sent us the following links on appearances of colleague Nicholas Economides, Professor @ NYU’s Stern School of Business. Have a look:

Compliance report on Greece September 4, 2012

Posted by proeconomia in Main, News on Greece, On the crisis.
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You may be interested to read this compliance report on corruption and party funding in Greece. The related news piece (in Greek) is here. The results of the report are disappointing but read it over to form your own conclusions.

U.S. Companies Brace for an Exit From the Euro by Greece September 3, 2012

Posted by proeconomia in Main, Monetary policy, News on Greece, On the crisis, Opinion.
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This is from the NY Times, kindly sent by our colleague Henry Thomson with thanks. The theme is an old one, the question is why is being brought up (again) now…

Don’t Act. Just Think September 3, 2012

Posted by proeconomia in Main, On the crisis, Opinion, Science and technology.
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A YouTube video of Professor Slavoj Žižek on capitalism and fighting against it, worth your time. The message is clearly important: do you think before getting caught into acting without thinking? Sent by our graduate student Theodore Daskalopoulos with thanks.

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