Weekend News

Life In Greece

They have a nice culture in Greece. When Lawyers run your country what do you expect. The rich greeks are choosing to export their labor. 70 percent of the Greeks want to remain in the EU. The first video  is the viewpoint of the 30 percent who do not want to stay in the Euro and who want to stay in Greece.

Personally I think the Greeks should default and drill for oil especially the oil the Israelis and the Turks plan on stealing from them.  But the thought of the Drachma is too much to bear. The guy in the first video is not old enough to have lived through the hyper inflationary period in Greece. Bad choice Australia he is making , but like most Greeks he moves where the relatives are. The Germans need to move on Greece ASAP and start putting factories in and developing resorts. Too bad the Germans could never master petroleum engineering.

 

Here is the problem in Greece!!

Exporting Greeks! You can see from the background and constant social life the Greeks in reality are not suffering at all like the American people but Americans are not drama queens!!

The real Greece.  La Dolce Vita. Invent Greeks. You used to be better at that than drinking and fornicating all the time. Soft , fat greeks. Not the Greeks I knew.  Of course todays Americans are not the lean fighting machine that killed 2 million Vietnamese communists.

Greeks Cut 325 Million Over Weekend

Alexander is rolling over  in his grave at how soft the Greeks are.

China Panics Over Exports Cuts Bank Reserves-Finally!!

China cut the amount of cash that banks must set aside as reserves for the second time in three months to spur lending as Europe’s debt crisis and a cooling property market threaten economic growth.

Reserve ratios will fall 50 basis points, effective Feb. 24, the People’s Bank of China said on its website yesterday evening. The level for the nation’s largest lenders will decline to 20.5 percent, based on previous statements.

China follows Japan in expanding monetary easing even as global equity markets are buoyed by signs of strength in the U.S. economy and optimism that Europe’s fiscal crisis will be contained. Governor Zhou Xiaochuan’s officials moved on the same day that a report showed home prices slid in most of the nation’s major cities in January.

“Chinese policy makers are very much concerned about a possible deeper slowdown in domestic growth,” said Yao Wei, a Hong Kong-based economist with Societe Generale SA.

A 50 basis-point cut may add 400 billion yuan ($63 billion) to the financial system, Australia & New Zealand Banking Group Ltd. (ANZ) estimates. UBS AG says 350 billion yuan. The previous reduction was the first since the global financial crisis.

Tight interbank liquidity may have triggered the latest move, according to UBS economist Wang Tao in Hong Kong.

http://www.bloomberg.com/news/2012-02-18/china-cuts-banks-reserve-ratios-a-second-time-as-europe-threatens-growth.html

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