By: Daryl Montgomery
•Greek bailout timeline supposed solutions:
May 2010 – €110 billion
July 2011- €109 billion, plus 21% bondholder loss
October 2011 – €130 billion, plus 50% bond loss for creditor other than EU/IMF
•Referendum crisis arises only 4 days later
•One-year interest rates in Greece before Oct plan as high as 193%, fell to 154%, then rose to 206%
•Hard default would be around 75% or more
•Would be bigger than Russian default in 1998
By: Tanya Palta
In todays luxury obsessed world, all that glitters is indeed gold! Gold has fascinated mankind for centuries and seldom has a material inspired so much creativity. From gold jewelry, to gold furniture to even gold gadgets, we thought we had seen it all here at Realemedia, but we were in for a surprise.
Meet the 24K Gold Shoelaces by Mr. Kennedy, which are not only the ultimate in modern luxury, but also reinvents ...
By: Daryl Montgomery
A small country with a currency problem causing major problems in the global financial system has a recent precedent in Asia in 1997. The Thai baht, which was pegged to the U.S. dollar, came under speculative attack in May of that year and the government was forced to drop the dollar peg and float the currency on July 2nd. The problems in Thailand, a relatively small economy, then spread throughout East and South Asia. ...
Read On →By: Daryl Montgomery
Why anyone would want to follow European countries on economic matters is a real puzzle. The EU’s handling of the Greek debt crisis will be recorded by history as one of the major episodes of government ineptness of our time (and there is really stiff competition in that category). Instead of dealing with the problem immediately and decisively by instituting dollarization and removing Greece from the currency union, EU leadership let the matter fester ...
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By: Tanya Palta
Millions of travellers flock to the port city of Malaga every year and the pulsating town is the ideal mesh of a metropolis and a historic center. Flanked with the azure Mediterranean Sea, Malaga is the perfect getaway for those looking for a respite from their mundane urban existence or who crave a hearty dose of seaside and sunshine. A dream destination for anyone who wants picturesque villages, pristine beaches, fascinating history and stunning landscapes, Malaga is a captivating mélange of the old and the new.
By: Tanya Palta
When it comes to providing state of the art bathroom solutions, Italian company Antonio Lupi Design enjoys a formidable reputation. Established in 1950 by Antonio Lupi as a glass-working laboratory, the company is spread over a surface of 5000 square meters, in the beautiful town of Florence and is currently run by the Lupi family. Since its inception, Antonio Lupi Design has focused its creative energies on a holistic bathroom culture, that stresses on ...
Read On →By: Daryl Montgomery
Quantitative easing will encourage large foreign holders to sell U.S. debt and to not make purchases in the future, except for TIPS (treasury inflation protected securities). Even TIPS will ultimately be shunned because they reflect the understated official U.S. government inflation rate.
The price of gold is strongly linked to the loss of value in paper currencies. While many economists refuse to admit it, this is the definition of inflation. Gold has continually ...
Read On →By: Daryl Montgomery
The BLS released its non-farm payroll figures for October today and they stated that 80,000 jobs were created and that the U.S. unemployment rate was 9.0%. There are reasons to believe that this number is actually as high as 12.7%.
Except for February and March of this year, the unemployment rate (the U-3 number) has been 9.0% or higher since May 2009. It hasn’t risen well into the double digits because large numbers of workers have supposedly left ...
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By: Tanya Palta
There are very few cameras in this world, that command reverence and admiration like a Hasselblad. The most desired camera by any self-respecting photographer. Owning a Hasselblad is not just an artistic coup, but is also the ultimate status symbol. Hence, it comes as no surprise that Hasselblad is universally recognized as being the Rolls Royce of cameras. The fact that the Hasselblad name is linked with cameras since almost the inception of photography ...
Read On →By: Daryl Montgomery
The market lost its rose colored glasses today with Greece announcing a political referendum early in 2012 on the recent EU bailout deal. This could lead to the deal falling apart sooner rather than later. Stocks sold off on the news in Europe and the U.S. while interest rates rose in Greece and other troubled EU countries.
The deal that the EU put together last week to handle its debt ridden members and to help ...
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