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It's hard not too be upfront when it's either that, or bankruptcy tomorrow, literally!
Shock in Cyprus as savers face bailout levy
It's hard not too be upfront when it's either that, or bankruptcy tomorrow, literally!
skc
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Completely off topic.. I don't know what a 7x11mm Polyp is, but is this what you plan to go to Phillipines to do? Or is it something else. Cause $4k is a pretty cheap procedure... that's like one stock position for you isn't it?
So_Cynical
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I'm going to be in the Philippines anyway and the Hospital is just down the road, so its an easy option...while 4K is my current entry position size its not something i want to use on a Polyp, at least in the market i have a 4 out of 5 chance of profiting, with the Polyp its a goner and i don't even get a capital loss!!! even though it is a capital loss.
Lost from my pocket into a millionaires.
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But that's the big secondary concern here - people in Greece, Spain and Italy will be thinking "uh oh, what if we're next? Better pull my money out now!" and there starts the domino's effect.
CanOz
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Markets don't like uncertainty...
skc
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I'm going to be in the Philippines anyway and the Hospital is just down the road, so its an easy option...while 4K is my current entry position size its not something i want to use on a Polyp, at least in the market i have a 4 out of 5 chance of profiting, with the Polyp its a goner and i don't even get a capital loss!!! even though it is a capital loss.
Lost from my pocket into a millionaires.
There are risks to all medical procedures and it scares me to save a few $k and get an operation in a 3rd world country. At least if they screw up in Australia you can sue those millionaires.
Anyway... good luck with it.
Back on topic.
Seems like panic is pretty much over and Europe is well off the lows.
Julia
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Who cares about the affected depositors, as long as the market will be OK in a few days, huh?
Fantastic.
Well, if you'd spent the considerable funds required to acquire a basic medical degree, done all those years of study, and then spent about another six years to acquire a specialist ENT qualification, you'd bloody well be earning a similar amount.I'm going to be in the Philippines anyway and the Hospital is just down the road, so its an easy option...while 4K is my current entry position size its not something i want to use on a Polyp, at least in the market i have a 4 out of 5 chance of profiting, with the Polyp its a goner and i don't even get a capital loss!!! even though it is a capital loss.
Lost from my pocket into a millionaires.
Your quibbling about people who have achieved something useful in life is nauseating.
Agree. A decision that could only come from someone who values money more than their health.
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Well it's 1:45pm in Athens and 12:45pm in Rome and Madrid. If they're not queuing already they aren't going to.
skc
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Did you read the Business Spectator article that I linked?
http://www.businessspectator.com.au/...#ixzz2NrxmDwpS
Which aspect of the article do you agree / disagree with?
What alternative do you propose?
Julia
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No. When I attempt to access your link, I'm told that 'access is denied'.
My own email of Business Spectator today has this article:
http://www.businessspectator.com.au...l&utm_content=238868&utm_campaign=kgb&modapt=
It sums up my sentiments exactly.
No idea. I am not an economist or a politician. I just take exception to the deposits of ordinary people being swiped to make up for government and bank mismanagement.
Perhaps the salaries and super of politicians and others who were responsible for creating the mess could be accessed as a start. Perhaps watch tonight's 4 Corners for how the 'too big to prosecute' have got away with so much.
skc
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Try this link again if you are interested.
http://www.businessspectator.com.au...two-options-misery-or-suffering#ixzz2NrxmDwpS
The way I see it is that the situation sounds bad initially but ultimately it is the same as other forms of tax increase, austerity or even inflation. The consequence is that the private citizens' purchasing power is reduced.
The Australian government had a one-time QLD flood levy in 2011. I paid my share but I was not offered any choice or consulted in the process. The economic impact to me would be the same had they simply take the same amount from my bank account. But they called it a tax/levy and took it out of people's pay instead. The situation and cause are slightly different, but the economic consequences are similar. Yet somehow a flood levy doesn't sound nearly as dramatic as a disposit levy.
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Apparently the banks have been ordered to shut all cash outlets for the next 2 days to prevent a run. What happens after that? Another order to prevent withdrawals indefinitely? :bad:
It's all about trust - without trust, there is nothing.
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How do you know they're not already queuing?
nulla nulla
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LOL .. The extreme irrationality of poverty.
But seriously, Cyprus is Broke along with maybe a quarter of Europe, the people will pay one way or another, ask the Irish or Greeks if they are paying? suffering the consequences of being broke...i think the Cypriot Govt is being a lot more decisive and up front about it.
And yet it is without any doubt the rich who will pay the most.
Meh...if it happened here im down 900 bucks (mostly cos i paid out the line of credit and CC's
My 7 x 11 mm Polyp isn't good/bad enough to even make the public waiting list, yet a professor told me he can take it straight out for 4K after Medicare, Its disgusting...the public surgeon says "why perform unnecessary surgery" :dunno: and yet the Professor who taught him has no issue with the unnecessariness of it.
Sorry to hear of your condition SC. I hope the procedure goes well for you and the polyp proves to be benign.
In respect of the Cyprus Deposit Tax. In my humble opinion the EU has not thought through the ramifications of forcing a small member country to impose a 10% tax on deposits as part of their bailout conditions. It is apparent that the tax will not only cause a run on the Cyprus banks but the fear factor will ensure that there is a run on the banks of every other member country that is doing it tough. Their decision to impose this tax will ascerbate the situation and not cure it. Just another example of EU incompetence.
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I read the news.
It's not the same. This is a tax on savings and not on income. It negatively affects anyone who chooses to save money and not indebted.
E.g I have 2 million in the bank, I get charged a 200K tax. You have a 2 million in property/equity/or stashed gold, no tax for you.
Lost from my pocket into a millionaires.
If you're assuming your money is going to the poor doctor's in Philippines, your sadly mistaken. Some of the richest people I have met have been doctors from "third world countries".
BTW if you want anyone to blame, blame the capitalist system (and the fact that you can sue your doctor)!
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If you had $2m in the bank would you prefer paying 10% and saving the bank or losing it all?
That is a completely different question and not the point I was making.
Essentially savers are being punished for the mistakes of governments, banks and bankers. Why aren't those who caused these problems being punished?
I guess your the exception to the rule if you save these days. That's the message I am getting.