Author Archives: Bok
Craigslist for Greeks
Greece’s Syriza Party Prime Minister Alexis Tsipras agreed to accept new conditions for a bail-out from Germany. The conditions are tougher than the ones Greek voters rejected in a referendum less than two weeks ago. The agreement also calls for a €50 billion investment fund to help Greece grow out of its mess. The fund is to endowed by the sale of Greek assets. Craigslist for Greeks.
The agreement requires approval of the Greek Parliament.
In a WSJ piece title “Another Greek Can-Kicking” Holman Jenkins thinks the deal will retard any return to health for Greece.
But if you still have money in Greek banks you might be willing, to sacrifice the economy’s return to long-term health to maximize your chance of reclaiming your life savings.
He also says the deal was less about Greece than preserving relations between France and Germany.
France stepped out as defender of Greece and promoter of fake plaudits… Germany likes to be seen deferring to France to quell any idea that Germany is becoming strident and imperialistic again.
It must be true – David Ignatius lays out the same notion in the Washington Post.
Trump Top
Trump has moved to the top of one poll for the Republican nomination. Establishment Republicans are not happy with The Donald. Peggy Noonan’s approach is that “sometimes an ill wind feels like a breath of fresh air”.
No Sanctuary for Kate Steinle
Illegal immigrant Juan Francisco Lopez-Sanchez has served 181 months in prison over 15 years. He’s been convicted of seven flelonies and deported five times. After serving each of his various terms was returned to Mexico and then sneaked back over the border for more of the same.
The Lopez-Sanchez round trip crime tour came to an end April 15. Rather than ship him back to Mexico again, a local sheriff released him onto the streets of San Fransisco. At that point Lopez-Sanchez would have been untouchable, San Fransisco being a Sanctuary City. But he claimed he found a gun and shot 32 year old Kate Steinle while she walked with her father.
Here’s Michael Daly’s account in a Daily Beast story slugged The Murder Shaking San Francisco’s Liberal Soul.
A memorial for Kate Steinle was held on Thursday. Family and friends told stories of an adventurous, exuberant, and uncommonly kind young woman. They had a phrase for the sunny, uplifting impact she seemed to have on everybody, wherever her wide travels took her:
“The Kate effect.”
Hillary News Roundup
Hillary told CNN she’s not running for president of the press. She’s running for president of the American People. Hopefully that means she won’t roundup the rest of us with ropes when she speaks.
She says people should and do trust me despite a June 2 CNN poll in which 57% said Hillary is not “honest and trustworthy”.
Greek Austerity
Last week Greece defaulted on its debt to the IMF. On Sunday Greek voters said “no” to more austerity from the IMF.
Surging socialist candidate Bernie Sanders applauds the Greeks for rejecting austerity from the Euro ruling class. Economics writer Stephen Moore says Greece needs less socialism and more privitization. The banks are shutting down and withdrawals are restricted. He says what’s happening in Greece is the usual outcome of socialism – economic collapse.
Roger Cohen in the NYT says the euro zone isn’t all that much into democracy anyway: “A vote cannot undo a debt or obscure colossal Greek irresponsibility.”
The IMF had demanded more taxes on Greek businesses. Moore says the country is already overtaxed. His solution is a Detroit style bankruptcy where pensioners and Wall Street investors all take a “haircut”.
Robert Samuelson says the Greek economy accounts for only 1.8% of the euro zone and its collapse might not have much effect on the rest of us. Greece only has a population of 11 million. Hell, we have 94 million out of work.
But this WSJ analysis says if Greece does leave the Eurozone the risk of contagion to more important economies is high.
