Category: Greece

Underground to overthrow: Part 2, The next step is prison

13 December, 2013 (09:00) | Economics, Eurozone, Foreclosure, Formality, Global news, Greece, Housing, Informality, Markets, Mortgages, Speculation |

[Continued from yesterday’s Part 1.]   By:David A. Smith   As we saw in yesterday’s post, using a recent story from Bloomberg (December 5, 2013), ECB-imposed austerity has inflicted on Greece 25%+ unemployment, nationwide foreclosures, and an economic debtor’s prison.   [None of this makes Greece blameless – the country socialized and overspent for decades […]

Underground to overthrow: Part 1, More important than being legal

12 December, 2013 (09:00) | Economics, Eurozone, Foreclosure, Formality, Global news, Greece, Housing, Informality, Markets, Mortgages, Speculation |

By:David A. Smith   If the only way out of Prospero’s Europe is economic death, a people and a nation must and will change the rules, even to the point of seceding from formal society, as revealed in this poignant story of Greece from Bloomberg (December 5, 2013):   Unemployed Greeks Reconnect as Underground Electricians […]

Month in Review, January 2013: Part 2, To the global

14 March, 2013 (14:38) | Bankruptcy, Cambridge, Detroit, Elderly, Euro, Global markets, Greece, Humor, MEEs, Month in review, Public housing, Redevelopment, Rent control, Spain, Speculation |

By:David A. Smith   [Continued from yesterday’s Part 1.]   Yesterday’s Part 1 of this review on the localized issues covered in January brought us to the problem of one elderly mother and her daughter and son-in-law, an issue that is confronting China (and even more, Japan) at a scale far surpassing our needs here […]

Month in Review, January 2013: Part 1, From the local

14 March, 2013 (14:34) | Bankruptcy, Cambridge, Detroit, Elderly, Euro, Global markets, Greece, Humor, MEEs, Month in review, Public housing, Redevelopment, Rent control, Spain, Speculation |

[Previous Months in Review available here: Dec 12, Nov 12, Oct 12, Sep 12, Aug 12, Jul 12, Jun 12, May 12]   By:David A. Smith   No interval is so gloomy as to be entirely without its lighter side, and for a New England Patriots fan despondent at the team’s elimination from the playoffs, […]

Prospero’s Europe: Part 2, living in a cloud of smog

6 February, 2013 (09:00) | Austerity, Economics, EU, Eurozone, Greece, Spain |

By:David A. Smith   [Continued from yesterday’s Part 1.]   In Yesterday’s Part 1, we saw that Europe’s extremities – Spain, profiled in the Wall Street Journal (December 28, 2012) (red font),  and Greece, written up in the Wall Street Journal (January 11, 2013) (blue font) – are dying a slow economic death from capital […]