Yet despite the prosperous appearance, a chill has already settled over Eskisehir’s economy, and Turkey’s, as exports to China and the Middle East falter. And as Russia has halted most tourism to Turkey and threatened to stop food imports from the country after Turkish F-16 fighter jets shot down a Russian combat jet along the Syrian border last Tuesday, the risk of further economic trouble is clear.
The country’s stake in the National Bank of Greece dropped to 24 percent from 57 percent, and in Eurobank it fell to 2.4 percent from 35 percent, while its stake in Alpha Bank was reduced to 11 percent from 64 percent and in Piraeus Bank it dropped to 22 percent from 67 percent. This translates to a loss of almost $44 billion that Greek taxpayers gave to bail out the banks over the past three years.
Be Careful Out There (Nate)
“The high recent valuations in the stock market have come about for no good reasons. The market level does not, as so many imagine, represent the consensus judgment of experts who have carefully weighed the long-term evidence. The market is high because of the combined effect of indifferent thinking by millions of people, very few of whom feel the need to perform careful research on the long- term investment value of the aggregate stock market, and who are motivated substantially by their own emotions, random attentions, and perceptions of conventional wisdom.”
Why You Better Stop Terrorism and How To Do It (richcabot)
If you take a close look at pictures from the Boston Marathon bombing, you will see that when those pressure-cooker bombs exploded, both sides of the street were lined with police officers.
So even if you manage to “have a police officer every place,” that won’t protect you.
When growth did happen, it did not come from the EU. From Ludwig Erhard’s supply-side reforms in West Germany in 1948 to Thatcher’s privatisation of nationalised industry in the Eighties, European growth came from reforms introduced by individual countries which were were copied elsewhere. EU policy has always been either irrelevant or positively detrimental (as was the case with the euro).
On November 16, in a highly publicized effort, US warplanes destroyed 116 ISIS oil trucks in Syria. 45 minutes prior, leaflets were dropped advising drivers (who Washington is absolutely sure are not ISIS members themselves) to “get out of [their] trucks and run away.”
“Volkswagen is finding its financial footing more quickly than expected,” Dudenhöffer wrote in an email to The New York Times. But he stressed that its costs still could rise steeply, especially with stiff fines likely to be imposed by the U.S. Environmental Protection Agency, as well as from lawsuits expected to come from company shareholders and customers.
Climate Watch: L.A.’s Water Woes (richcabot)
Ahead of the Paris climate summit, WhoWhatWhy presents the first part of the series, which highlights the dependence of Los Angeles on fresh water. In “Mulholland’s Dream” the past and present challenges the city faces are combined into a compelling narrative that shows that the effects of a changing climate are not decades away. They are already here.
Gold & Silver
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