Greek Stocks Reopen with a Thud
The Greek stock market very likely represents an emerging opportunity, as many stocks are sporting extremely low valuations these days. However, when we last discussed the Greek market, we pointed out that there was probably no hurry and more importantly, that using ETFs to play the Greek market would pose a difficulty at the current juncture.
Greek ruins – emblematic for the country’s situation.
Photo credit: fondos7.net
We spent much of January on the beach at Rancho Santana in Nicaragua. The longer we stayed, the more we liked it. It was warm and dry on the Pacific coast… but we woke up to the sound of rain on the roof this morning.
“Lake Arenal has a different climate,” our overseas real estate scout, Ronan McMahon, explained. Ronan is a young Irishman with long dark hair, a sunny disposition and a thick County Cork accent. He also advises members of our family wealth advisory, Bonner & Partners Family Office, on where to find the best real estate deals.
The Arenal volcano near Lake Arenal in Costa Rica, an artificial lake at the bottom of which the two old towns of Arenal and Tonadora lie abandoned. The lake is surrounded by a rainforest that is home to an estimated 2,000 plant species, 300 bird species and 120 different mammals, including jaguars and tapirs.
Photo via vacationscostarica.com
What’s Really Killing Capitalism
VANCOUVER, Canada – Hillary is taking the bull by the horns… and putting the knife between her teeth. She is a “take-charge” candidate and aims to let us know.
Yes, earlier his week, she promised to improve capitalism. Now, it’s the climate of planet Earth that has her attention. She’s going to make it better by decreasing carbon emissions – by force, of course.
Saints preserve us! Now she wants to “save the planet” too. Ironically not even the reds and professional scaremongers are happy with her “climate change” contortions (as seen in the Guardian, a hotbed of climate alarmism and a preferred medium of assorted limousine socialists).
The British Referendum Looms
For the last couple of months (and years, for that matter) Greece has become synonymous with trouble in the euro zone and the European Union. As we’ve previously mentioned, in the absence of an extraordinary event, the risks in connection with Greece are limited.
The country contributes less than 2% to the European Union’s GDP and state institutions or institutions backed by the state now hold over 80% of the Greek debt. A debt restructuring or even a Grexit would pose neither a risk to the financial system, nor to the European economy.
David Cameron and Nigel Farage, as seen by Steve Bell
Austria’s Constitutional Court Decides to Uphold Property Rights
To everybody’s vast surprise, Austria’s constitutional court has decided not to side with the government in the infamous Hypo Alpe Adria (HAA) case. The bank went belly-up after the 2008 crisis and slowly but surely it emerged that it represented a financial catastrophe of truly stunning proportions.
Incompetence on a rarely seen scale, but probably also fraud (although that angle has yet to be pursued by the judiciary) ultimately produced the biggest de facto (if not de iure, yet) insolvency in Austria’s history.
Hypo Alpe Adria – a giant house of cards that imploded in the course of the financial crisis.
Photo credit: hypo-alpe-adria.hr
The Federal Reserve recently released a research article titled “How Sensitive Is Housing Demand to Down Payment Requirements and Mortgage Rates?”
Formerly ruling over rooms full of really smart guys: ex-Fed chairman Ben Bernanke
Photo credit: Karen Bleier / AFP
Greece’s Citizens Know More than Paul Krugman
One of the interesting dynamics in Greece is the continued attachment of the Greek population to the Euro. All the polls show 60-70% majorities for staying in the euro zone, notwithstanding the ravages of austerity. But there is a very simple explanation for this paradox. As much as the Greeks blame the rest of Europe, and especially the Germans, for their problems, they understand very well that nothing is worse than their home-grown politicians.
We generally don’t make the mistake of overestimating the competence of Paul Krugman on this site (PT) …
Photo credit: David Levene
More Articles of Interest:
- Gold Panic
- Venezuela's Hyperinflation Crack-Up Boom on its Way to Outer Space
- Misunderstanding Gold Demand
- Gold and the Grave Dancers
- Italy – Non-Performing Loans Hit a New Record High
- Should You Buy a House?
- The US Stock Market and a Major Recession Warning
- The China Syndrome
- Bank of Canada Decides More Bubble-Blowing is Needed