Tag: bailouts

The Cyprus Scare: First of Many to Come

One of the most foreboding items in the news this week was the threat that Cyprus banks were going to confiscate personal savings tax those who have savings accounts from 6.75% up to 9.9% for the wealthiest. That would mean forking over nearly 10% of one’s savings to the government in an attempt to forestall an economic crisis. The last I heard, this has been avoided by a bailout from Russia at an interest rate lower than prevailing market rates…. Read more »

Odds & Ends

How about a panoply of cartoonish insight on a variety of issues? Let’s start with that ever-present “movement” that’s occupying the airwaves. The nature of the movement is finally becoming obvious to almost everyone. Well, almost everyone: Back in Congress, the so-called Super Committee is attempting to hammer out a deficit-reduction package. That should be easy. A small group certainly can accomplish more than the entire Congress, right? Right? President Obama has been doing whatever he can via executive orders…. Read more »