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Hot Money Blues
New York Times, by Paul Krugman

Original Article

Posted By:pineledger, 3/25/2013 6:55:57 AM

Whatever the final outcome in the Cyprus crisis — we know it’s going to be ugly; we just don’t know exactly what form the ugliness will take — one thing seems certain: for the time being, and probably for years to come, the island nation will have to maintain fairly draconian controls on the movement of capital in and out of the country. In fact, controls may well be in place by the time you read this. And that’s not all: Depending on exactly how this plays out, Cypriot capital controls may well have the blessing

Comments:
... of the IMF.

The brokerage houses all have their "international exposure" mantras in place and illegal aliens send US money back to Mexico by the cartload.

Is it any wonder that the US economy is withering?

      


Post Reply  

Reply 1 - Posted by: Spidey, 3/25/2013 7:13:12 AM     (No. 9242310)

Krugman would love nothing more than Obama having the power to make this kind of money grab from Americans. They have the nerve to call this a wealth tax over there,when it´s clearly theft.If this is allowed to happen,it´ll set a horrible precedent.

They need to blow the EU up and send the bureaucrats to the unemployment line and give these countries their sovereignty back.

This thing was supposed to be a model for a north American EU with the US,Canada and Mexico in the alliance. Thank God that won´t happen.

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Reply 2 - Posted by: marthaville, 3/25/2013 7:25:32 AM     (No. 9242323)

Perhaps Obama can tax Krugman´s millions of dollars in wealth.

Then we can tax Obama´s millions of dollars in wealth. This might be fun. More taxes on the wealthy liberals.

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Reply 3 - Posted by: Country Boy, 3/25/2013 7:40:51 AM     (No. 9242341)

Massive seizure of capital has been underway in the U.S. since 2008.

1) Quantitative Easing has dramatically raised the cost of food and energy, without any increase in average wages.

2) Near 0% interest rates have robbed a collective 20% (over 4 years) from fixed income savers.

Both 1&2 were done, with that pipe dream that the U.S. economy could be revived. But that is not possible with the Washington Regressives socialist and statist policies.

Can´t read anything that Krugman writes. The guy is a certified loon.

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Reply 4 - Posted by: sinic, 3/25/2013 8:23:41 AM     (No. 9242414)

Certified Loon, #3? Why, don´t you know that the man has a Nobel...which is one of those useless "awards" that are very similar to the crap Hollywood doles out to itself all the time.
But he IS brilliant...just ask him, he´ll tell ya all about himself.

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Reply 5 - Posted by: MattMusson, 3/25/2013 8:55:41 AM     (No. 9242471)

The problem with Cypriot banks is... they bought Greek soverign debt.

That was what put them in the pickle to begin with.

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Below, you will find ...

Most Recent Articles posted by "pineledger"

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Most Recent Articles posted by "pineledger"



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Posted By: pineledger- 3/24/2014 12:52:26 PM     Post Reply
The Hague-—President Barack Obama, seeking to shift the trajectory of the crisis in Ukraine, will press U.S. allies Monday to suspend Russia from the Group of Eight leading nations and to adopt more sweeping sanctions against the Russian economy, administration officials said. Mr. Obama will argue for those steps in an emergency meeting Monday evening with leaders of the world´s top seven economies, held on the sidelines of a nuclear security summit in The Hague, officials said. "We believe that there is no reason for the G-7 countries to engage with Russia going forward based on its behavior," Ben Rhodes,

   

 

  


 
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Press Herald [Portland, ME], by Joe Lawlor    Original Article
Posted By: pineledger- 3/14/2014 5:43:35 AM     Post Reply
Advertising executives didn’t need a scientific study to surmise what would draw young adults to ads that encourage people to buy health insurance through the Affordable Care Act.They went with skin – lots of it. “He may not be naked. He could be wearing a Speedo,” Wendy Wolf said with a laugh, referring to an ad showing a young man who is otherwise unclothed but covered by a strategically placed laptop computer. “Dude, it’s time to get covered,” proclaims the ad for www.enroll207.com that ran this week in the Portland Phoenix alternative newspaper. Wolf, executive director of the Maine Health Access Foundation,

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Posted By: pineledger- 2/14/2014 5:18:09 AM     Post Reply
Washington--One in five people who signed up for health insurance under the new health care law failed to pay their premiums on time and therefore did not receive coverage in January, insurance companies and industry experts say. Paying the first month’s premium is the final step in completing an enrollment. Under federal rules, people must pay the initial premium to have coverage take effect. In view of the chaotic debut of the federal marketplace and many state exchanges, the White House urged insurers to give people more time, and many agreed to do so. But, insurers said, some people missed

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New York Times, by Erik Eckholm    Original Article
Posted By: pineledger- 2/8/2014 5:46:05 AM     Post Reply
DENVER — Helping the terminally ill end their lives, condemned for decades as immoral, is gaining traction. Banned everywhere but Oregon until 2008, it is now legal in five states. Its advocates, who have learned to shun the term “assisted suicide,” believe that as baby boomers watch frail parents suffer, support for what they call the “aid in dying” movement will grow further. In January, the New Mexico Supreme Court authorized doctors to provide lethal prescriptions and declared a constitutional right for “a competent, terminally ill patient to choose aid in dying.” Last May, the Vermont Legislature passed a law

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Posted By: pineledger- 2/5/2014 4:46:36 AM     Post Reply
Washinton--A Congressional Budget Office analysis released Tuesday predicted that the Affordable Care Act would shrink the work force by the equivalent of more than two million full-time positions and recharged the political debate over the health care law, providing Republican opponents fresh lines of attack and putting Democrats on the defensive. The nonpartisan budget office’s analysis, part of a regular update to its budget projections, was far more complicated than the Republican attack lines it generated. Congressional Republican leaders called the findings “devastating,” “terrible” and proof that the health care law was a job killer. (Snip)Senator Joe Manchin III, Democrat

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Posted By: pineledger- 2/5/2014 4:02:05 AM     Post Reply
Secretary of State John Kerry must be really desperate to win the Nobel Peace Prize. So much so, he seems willing to continually force the state of Israel into untenable positions that put its security at risk. On this very topic last month, Israeli Minister of Defense Moshe Yaalon said Kerry "came here very determined and operates based upon an unfathomable obsession and Messianic feeling . . . "Throughout the recent months, there is no negotiation between us and the Palestinians, but rather between us and the Americans. The only thing that can ´save´ us is that John Kerry will

   

 

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Investor´s Business Daily, by Editorial    Original Article
Posted By: pineledger- 1/14/2014 7:36:40 AM     Post Reply
Misregulation: The president´s new consumer credit czar is doing a victory lap in the media over new mortgage rules, which go into effect this week. He claims they´ll stop another crisis. What a screaming joke. Consumer Financial Protection Bureau Director Richard Cordray chirped during an interview on the "Daily Show With Jon Stewart" that the new rules are a "big change from the status quo" and will take mortgage banking back to the days of prudent lending. (Snip) Despite all the hype of tightening underwriting, CFPB´s celebrated new mortgage rules in fact require no minimum down payment or credit score

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Posted By: pineledger- 1/11/2014 9:16:49 AM     Post Reply
Mel Watt hadn’t even been sworn in as the head of the Federal Housing Finance Agency when at 9 p.m. on the Friday before Christmas he e-mailed reporters from his personal account saying he would put on hold planned increases in fees Fannie Mae (FNMA) and Freddie Mac (FMCC) charge for insuring mortgage securities. With a three-sentence message, he signaled a break from his predecessor and hinted at how he’ll shape the future of the two firms that guarantee about 60 percent of new U.S. mortgages. (Snip)Watt “is really a bit of an enigma,” says Mortgage Bankers Association President David

New Affordable Care US
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Financial Times, by Stephanie Kirchgaessener    Original Article
Posted By: pineledger- 12/9/2013 8:05:49 AM     Post Reply
Americans who are buying insurance plans over online exchanges, under what is known as Obamacare, will have limited access to some of the nation’s leading hospitals, including two world-renowned cancer centres. Amid a drive by insurers to limit costs, the majority of insurance plans being sold on the new healthcare exchanges in New York, Texas, and California, for example, will not offer patients’ access to Memorial Sloan Kettering in Manhattan or MD Anderson Cancer Center in Houston, two top cancer centres, or Cedars-Sinai in Los Angeles, one of the top research and teaching hospitals in the country. High quality global

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Posted By: pineledger- 12/6/2013 2:24:55 PM     Post Reply
Konstantin Kakaes had a lot of good evidence to work with for his article debunking the promise of Amazon’s drone deliveries. The FAA doesn’t allow autonomous flight. Drones are too small and unreliable. They’ll cost Amazon a fortune to maintain and oversee. Kakaes had so many facts in his favor, but he left out a big one: Birds are going to hate these drones.(Snip)The difference for Amazon’s drones is that the birds will be chasing them. Unseen to us, the skies are checkered with fiercely defended bird territories. Open-country raptors—hawks, eagles, kites, harriers, etc.—don’t take kindly to interlopers on their

   

 

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Why Kanye West Is
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Wall Street Journal, by Christina Binkley    Original Article
Posted By: pineledger- 11/28/2013 6:23:43 AM     Post Reply
In a major rant at radio host Sway Calloway this week Kanye West went full tilt against the fashion establishment that is preventing him from unleashing his artistry-in-apparel on the world: “I am Warhol. I am the No. 1 most impactful artist of our generation. I am Shakespeare in the flesh. Walt Disney. Nike. Google. Now, who’s going to be the Medici family and stand up and let me create more? Or do you want to marginalize me til I’m out of my moment?” Dear Kanye Warhol-Shakespeare-Disney-Google-West, So you want to be a fashion designer! You actually did launch a



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