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Friday, October 14, 2011

Today's news were posted at 8:43 AM

Top Stories

Obama promises 'toughest sanctions' on Iran over alleged bomb plot

The Guardian - ‎13 minutes ago‎

Will Herman Cain seize his 2012 moment

Politico - ‎21 minutes ago‎

NASA Buys Flights on Virgin Galactic's Private Spaceship

Space.com - ‎1 hour ago‎

Future of global politics rests on Asia: Clinton

Pakistan Observer - ‎8 hours ago‎

Europe Crafts Rescue Plan With More IMF Firepower

Bloomberg - ‎51 minutes ago‎
7:43 am est

Is the Big Bang a correct theory?

Gabriel Kazakias 10/14/11


Some find difficult to imagine that the fine-tuning of all these beautiful things around us just happened by accident without a divine direction behind them. Some others believe that the world came into existence from a point of infinite density and temperature known as the “Initial Singularity” which then exploded through the Bing Bang.


I will briefly discuss what “they” believe is the science behind the creation of the universe and I would let you decide its validity.

The universe is the entire space-time continuum in which we exist, together, with all the energy and matter within it. It is important to understand the fact that the term universe is defined specifically as all existence in one space-time continuum.

There is an orderly harmonious pattern and rhythm to the whole cosmos and the evidence for this orderliness is everywhere on earth and in the heavens, and also in the functioning of the human organism. In other words life, the human organism and the heavens reveal a remarkable order and pattern which is harmonious in every detail resembling a magnificent work of art and science.


Proponents of the Big Bang measure an age of 14.7 Billion years by tracing back the expansion of the universe to an initial point, the “Initial Singularity”. Within a matter of seconds the explosion by the Big Bang released all the energy that we would ever consume. Gravity continued to squeeze together clouds of gas and dust causing the pressure and heat to violently rise.


Hydrogen, gravity, heat and pressure are the pre-builders of atoms and consequently of the galaxies. 13.7 Billion years ago the first galaxies were formed. Gravity continued to rise, when the temperature reached 18 million degrees F, combined hydrogen atoms created a new element, Helium, and radiated a lot of energy. Hence, the first stars were born pouring energy into the universe.


With the right heat, pressure and time hydrogen was fused into helium, helium into lithium and the universe continue to forge most of the 25 elements we need to live including carbon, oxygen and iron. The remaining of the elements would be provided by the energy from the blown out stars, known as Super-Novas. So, super-novas created the heavier elements such as uranium, gold, copper, bronze and others.


Stars were born then exploded the re-born until 4.6 Billion years ago when finally enough material were gathered for our sun and the planets around it. The earth was one of the planets around the sun. To become the place that we now enjoy earth needed an oxygen rich atmosphere. 3.8 Billion years ago, beneath the oceans a revolution was taking place. Hydrogen, carbon, oxygen and nitrogen combined to the key substances for life. 700,000 years after the planet was formed, life begins in some tiny organisms known as bacteria.


After the oxygen from the bacteria filled the oceans the oxygen escaped to atmosphere producing the rich oxygen atmosphere that we need and also create the ozone layer that protect us from the dangerous solar radiation.


Having oxygen and carbon we had the necessary elements for fire, which is essential for our civilization.


250 Million years ago was the first extinction due to volcanic activities.


65 Million years ago an asteroid collision caused the end of the dinosaurs.


2.6 Million years ago proto-humans were evolved.


4,000 B.C. humans learned to tame horses. No other animal had such a big influence in the human history.


500 B.C. Persian Empire


323 B.C. Alexander’s Empire


50 B.C. Han Chinese Empire


117 A.D. Roman Empire


800 A.D. Carbon and Sulfur, Gun Powder in China


1800 A.D. Coal and Steam Engine


It is crucial to note here that there are certain phenomena that don’t quite agree with the Big Bang and the theory of evolution. Our galaxy, the Milky Way, even though is rotating very fast it doesn’t fly apart which means that it contains a lot of mass generating enough gravity to hold the galaxy together – but this extra matter could be found anywhere.


The scientific community, in general, believed that the universe is expanding. Dr. Halton Arp and other astronomers have discovered evidence that the universe isn't expanding at all. Their observations indicate that the red-shifts that were contributed to expansion and to the universe’s age calculation are more likely due to the distinction of atoms having variable mass. This disproves the computed age of the universe as well as the radiometric dating since decay rates would change as the mass of protons and electrons changed.


So either our fundamental theories of gravity are wrong, and they generally seem to work OK, or there is matter in the galaxy that we cannot see. So this matter - if it exists - is "dark", and not easily detectable. Perhaps the super-massive black hole at the center of the galaxy is WAY bigger than we think. Or perhaps there s some sort of super-gravity that we don't know of yet, some sort of "dark energy". 


Recently, the data which were collected by the Wilkinson Microwave Anisotropy Probe satellite (WMAP), supports the currently popular model of the universe. This model predicts that the universe is made up of 5% ordinary matter, 25% undetectable "dark matter", and 70% dark energy. Although the nature of dark energy is not yet known, galaxies in a universe should have stopped growing early in the history of the universe.


Every second that passes, the sun compresses 564 million tons of hydrogen into 560 million tons of helium with 4 million tons of matter released as energy.  In spite of that tremendous consumption of fuel, the sun has only used up 2% of the hydrogen it had the day it came into existence.  Every star in the sky generates its energy in the same way.  Throughout the universe there are 25 quintillion stars, each of the stars converting hydrogen into helium, thereby reducing the total amount of hydrogen in the universe.  If hydrogen is being consumed that much and if the process has been going on for such a long time, how much hydrogen is left? If the universe has been here for so long, we would have run out of hydrogen long ago!  The fact is, however, that the sun still has 98% of its original hydrogen.  Everywhere we look in space we can see hydrogen in the spectrum.  This could not be unless the universe had a beginning and a young age!


They tell us that "matter is self-existing and not created." In order for matter to come out of nothing, all of our scientific laws dealing with the conservation of matter/energy would have to be wrong.  All of our laws of conservation of angular momentum would have to be wrong. All of our laws of conservation of electric charge would have to be wrong!  The assertion that matter is eternal is wrong.  The assertion that the universe has no beginning and self-existing is also incorrect.


There are several problems with the Big Bang theory:

  • The big Bang explosion should have propelled all the matter and energy radially from its center per the principle of conservation of angular momentum. Yet there are all kinds of curving and orbiting of the stars and galaxies.
  • In the context of the primeval fireball it is hard to justify the accumulation of any amount of matter in any one location such as a star.
  • The universe is a closed system because there is nothing outside of it to exchange heat with. The Second Law of thermodynamics says that entropy always increases in a closed system which is an indication of chaos and the most utter disorder. So how can this primeval chaotic disorder produce have possibly generated the beautifully organized and ordered universe that we have now?
  • The computed age of the universe and the radiometric dating is not validated.
  • Hydrogen should have been consumed instead of being the most abundant material in the universe.

Read this for more info:  http://wisenet-global.com/2011.10.09_arch.html#1318369547402

7:40 am est

Thursday, October 13, 2011

TODAY'S NEWS WERE POSTED AT 6:22 AM

Top Stories

Alleged Iran plot may have violated U.N. treaty

Reuters - ‎18 minutes ago‎

salon shootings suspect identified

CBS News - ‎16 minutes ago‎

Colombia's President Santos hails US trade deal vote

BBC News - ‎20 minutes ago‎

Stop playing partisan politics with American jobs

Burlington Times News - ‎7 hours ago‎

US Air Force calls drone fleet virus a 'nuisance'

AFP - ‎4 hours ago‎

EU's Barroso hopes Slovak solution found for EFSF vote

Reuters - ‎16 minutes ago‎

View as:One ColumnTwo Column News for you

US 'Occupy' protests evolved from magazine appeal

Wall Street Journal - ‎36 minutes ago‎

Amtrak trains collide, injuring 16

CBS News - ‎27 minutes ago‎

Cain vows to add staff, campaign more aggressively

Houston Chronicle - ‎2 minutes ago‎

Would-Be Plane Bomber Pleads Guilty, Ending Trial

New York Times - ‎14 minutes ago‎

U.S. Seeks Record Sentence for NY Hedge Fund Boss

Fox News - ‎26 minutes ago‎

European Stocks Retreat From Two-Month High; Euro, Metals Drop

BusinessWeek - ‎59 minutes ago‎

Warren Buffett Brings Tax Fight to Supercommittee

ABC News - ‎1 hour ago‎

Fed Signals Next Move May Link Stimulus to Economic 'Mileposts'

BusinessWeek - ‎5 hours ago‎

Liz Claiborne Rises Most in 24 Years on Brand Sale to Penney

BusinessWeek - ‎3 hours ago‎

Foreclosures continue to plague housing market

CNN - ‎31 minutes ago‎
5:22 am est

Greek biologist discovered the gene that causes childhood leukemia

http://www.otyposnews.gr/archives/24423

       

The relationship of the gene with blood cancer was discovered and presented at pan-European Conference in Stockholm, a forum for collaborations among leading cancer and in gene research. Behind the important lies a Greek biologist, Dr. Elli Papaemmanouil, who as head of the research group discovered the gene that causes childhood leukemia. The conclusion of the investigation for myelodysplasia is that new, introspective jottings would facilitate the genetic screening mutation.

5:19 am est

Greeks send NASA in Super travel http://www.otyposnews.gr/archives/21772

 

Approximately 38 years after the Project Daedalus, which demonstrated that travel from one star of our Galaxy to the other is realisable, Project Icarus has started as a volunteer effort to build the spaceship that will make the journey to other stars of the milky way. 

 

At the wheel is a Greek, Dr Andreas Tziolas, Professor of Astrophysics at the University of Alaska. The Icarus Project began in September 2009. "The challenge we have to deal with all those who are the team of Icarus has nothing to do with the proof that all trips are possible. This has been proven already. We try to design the same spaceship to travel to another star, "says Professor.  In this program are involved two more Greeks, Dr Chwmatas and Dr. Konstandinidis.

5:18 am est

Wednesday, October 12, 2011

Today's news were posted 6:41 AM

Top Stories

Mitt Romney at Republican debate: I can work with 'good' Democrats

Chicago Sun-Times - ‎33 minutes ago‎

Alleged Plot to Kill Saudi Ambassador Fuels U.S. Push to 'Isolate' Iran

Fox News - ‎7 minutes ago‎

Lawmakers, White House regroup after Senate scuttles Obama jobs plan

Washington Post - ‎1 hour ago‎

From 2D to 3D Fusion Politics

Huffington Post - ‎11 hours ago‎

Why Occupy Wall Street isn't about a list of demands

CNN - ‎37 minutes ago‎

NASA's space shuttle operations chief heading to Virgin

Reuters - ‎10 hours ago‎

View as:One ColumnTwo Column News for you

5:40 am est

Tuesday, October 11, 2011

Neutrinos are faster than photons http://greece.greekreporter.com/2011/09/24/cypriot-among-cern-scientists-who-discover-neutrinos-speed/

Markos Drakos a Cyprian scientist overthrew the early foundations of modern physical science, since virtually his research team suggests that the famous ... Law of Relativity of Einstein, may not be fully true.


Measurements in the experiment conducted at CERN revealed neutrinos to be faster than photons.
 
This discovery threatenes not only the theory of Albert Einstein but the entire edifice of modern physics, perhaps even the way we see the world.

4:45 pm est

News were posted 6:20 AM

Top Stories

Romney leads in Iowa and New Hampshire

msnbc.com - ‎13 minutes ago‎

December start to NBA season appears to be most likely scenario

SportingNews.com - ‎1 hour ago‎

Egypt: Anti-military chants at protesters' funeral

USA Today - ‎57 minutes ago‎

Challenge to Students: Have Space Station Run Your Experiment

New York Times - ‎12 hours ago‎

Netflix kills plan to separate Qwikster, streaming services

Fortune - ‎2 hours ago‎

Ohioans Want to Pry Space Shuttle From New York

New York Times (blog) - ‎19 hours ago‎

View as:One ColumnTwo Column News for you

Ryan Gosling Got Political Education - and a Soaking - From George Clooney

NBC Connecticut (blog) - ‎19 hours ago‎

Why Democrats Will Never Have a Permanent Advantage in American Politics

Fox News - ‎21 hours ago‎

Tipping point for American politics?

Jerusalem Post - ‎19 hours ago‎

Herman Cain, Occupy Wall Street, and The Republican Dilemma

The Faster Times - ‎11 hours ago‎

America Really Was That Great - by Thomas L. Friedman and Michael Mandelbaum

Foreign Policy - ‎9 hours ago‎

Ukraine ex-PM Yulia Tymoshenko jailed over gas deal

BBC News - ‎12 minutes ago‎

Myanmar likely to free "prisoners of conscience"

Reuters - ‎45 minutes ago‎

With Libyan conflict ending, victims speak out and NATO says to stay

Xinhua - ‎2 hours ago‎

Russia's Putin starts China visit shadowed by gas deal

Reuters India - ‎50 minutes ago‎

Johnson-Sirleaf Seeks Second Term in Liberia

Bloomberg - ‎9 minutes ago‎

5:21 am est

Monday, October 10, 2011

Syria, Iraq, Iran, Lebanon, Jordan – Economic Drivers

Researched by Gabriel Kazakias


Syria, Iran and Iran are oil producers and exporters. Oil represents 80% or more of the exports of Iran and Iraq, and about 40% of Syria’s exports. Syria is diversifying its economy towards a social market economy with the World Bank offering an array of technical assistance programs to support the efforts. Lebanon and Jordan, unlike the other three countries, do not have energy resources. These countries share the characteristics of high unemployment. Declining oil export values are the main drivers behind economic slowdown in Iraq, Iran and to a certain extent Syria.


Iran

The Iranian government has made debt reduction one of its top priorities. As a result, Iranian letters of credit are much better received now than they were two years ago. Iran holds almost 10 per cent of world oil reserves; it is OPEC's second largest producer. It has the second largest oil and gas reserves in the world. The Iranian economy’s most significant challenge is the fall in oil export revenues due to the reduction in global demand and the anticipated fall in global oil prices.


Iraq

According to IMF projections, Iraq’s fiscal position is projected to worsen with oil revenues expected to decrease by 26 percent corresponding to a deficit of about 17 percent of GDP for the year. Iraq’s oil sector contributes around 65% of Iraq’s GDP and over 90% of public revenues, and is therefore central to Iraq’s fiscal position and critical to the health of the Iraqi economy.


Labanon

Lebanon's economy and markets are best portrayed by a private economic activity and openness to abroad with capital and labor mobility. The country that has reconstructed its infrastructure using the best technologies, has revised basically most of its business laws and regulations and has a reputable banking sector with high financial standing, strictly regulated by the Central Bank. Lebanon today has the unique opportunity to move forward with one of the most important social reforms in decades.


Syria

The Syrian government, stuck in a stalemate with protesters, also is facing the longer-term challenge of keeping the country's already creaky economy from collapsing. Years of mismanagement, corruption and a recent drought have brought hardship to its growing population. Reforms aimed at opening the state-controlled economy have opened opportunities more for the well-connected than for average Syrians.


Jordan

The Kingdom of Jordan provides all people with learning experiences relevant to stimulating and sustaining economic development through an educated population and a skilled workforce.  King Abdullah’s commitment to economic reforms, the country’s geo-strategic location and positive relationships make Jordan a logical hub for regional and global trade that businesses can look to with confidence.

 

10:28 pm est

Instead of abandon Medicare work with it

Reporting by Gabriel Kazakias 04/26/2011

The analysis by the Congressional Budget Office (CBO) shows that Ryan's plan would increase the cost of healthcare to seniors. It would exceed the income of most retirees, as healthcare costs outpace income growth.

However this is not the result of cost-shifting from the government. It comes from the higher cost of private insurance compared with the government-run Medicare system.

CBO is projecting the increase cost of buying Medicare-equivalent insurance policies through the private sector is roughly six times the size of the projected social security shortfall. This indicates the enormous cost savings that Medicare provides relative to private insurers.
10:22 pm est

Syria, Iraq, Iran, Lebanon, Jordan – Economic Drivers

Researched by Gabriel Kazakias


Syria, Iran and Iran are oil producers and exporters. Oil represents 80% or more of the exports of Iran and Iraq, and about 40% of Syria’s exports. Syria is diversifying its economy towards a social market economy with the World Bank offering an array of technical assistance programs to support the efforts. Lebanon and Jordan, unlike the other three countries, do not have energy resources. These countries share the characteristics of high unemployment. Declining oil export values are the main drivers behind economic slowdown in Iraq, Iran and to a certain extent Syria.


Iran

The Iranian government has made debt reduction one of its top priorities. As a result, Iranian letters of credit are much better received now than they were two years ago. Iran holds almost 10 per cent of world oil reserves; it is OPEC's second largest producer. It has the second largest oil and gas reserves in the world. The Iranian economy’s most significant challenge is the fall in oil export revenues due to the reduction in global demand and the anticipated fall in global oil prices.


Iraq

According to IMF projections, Iraq’s fiscal position is projected to worsen with oil revenues expected to decrease by 26 percent corresponding to a deficit of about 17 percent of GDP for the year. Iraq’s oil sector contributes around 65% of Iraq’s GDP and over 90% of public revenues, and is therefore central to Iraq’s fiscal position and critical to the health of the Iraqi economy.


Labanon

Lebanon's economy and markets are best portrayed by a private economic activity and openness to abroad with capital and labor mobility. The country that has reconstructed its infrastructure using the best technologies, has revised basically most of its business laws and regulations and has a reputable banking sector with high financial standing, strictly regulated by the Central Bank. Lebanon today has the unique opportunity to move forward with one of the most important social reforms in decades.


Syria

The Syrian government, stuck in a stalemate with protesters, also is facing the longer-term challenge of keeping the country's already creaky economy from collapsing. Years of mismanagement, corruption and a recent drought have brought hardship to its growing population. Reforms aimed at opening the state-controlled economy have opened opportunities more for the well-connected than for average Syrians.


Jordan

The Kingdom of Jordan provides all people with learning experiences relevant to stimulating and sustaining economic development through an educated population and a skilled workforce.  King Abdullah’s commitment to economic reforms, the country’s geo-strategic location and positive relationships make Jordan a logical hub for regional and global trade that businesses can look to with confidence.

10:12 pm est

Is United States Declining?

Gabriel Kazakias


If you search the internet about US economic as well as military power, you end up with a rather gloomy picture. In 2008, the US National Intelligence Council admitted for the first time that America's global power was indeed on a downward path. Current projections claim that the US will find itself in second place behind China in economic output around 2026 and behind India by 2050.


American leadership in technological innovation is on the wane. In 2008, the US was still number two behind Japan in worldwide patent applications but China was closing fast.

Add to this the US education system that brings our future scientists and innovators behind our competitors and you will understand why some claim of our shortage of talented scientists by 2025.

Such negative trends are increasingly sharp criticism of the dollar's role as the world’s reserve currency. Faced with a country that is incapable of paying its bills, China, India, Iran, Russia, and other powers challenge our authority.

By 2025, Iran and Russia will control almost half of the world's natural gas supply, which will potentially give them enormous leverage over Europe. China pours billions into building a massive trans-Asia pipeline and funding Iran's exploitation of the gas field at South Pars in the Persian Gulf. Meantime here in the United States we are so dependent upon foreign oil that any adverse developments could spark an oil shock.


On the other hand we also need to recognize our potential. China has a long way to go to equal the power of the United States. Even if overall Chinese GDP passed that of the United States around 2030, the two economies would not be equivalent in composition. China would still have a vast underdeveloped countryside. Per capita income provides a measure of the sophistication of an economy. Assuming a 6% Chinese GDP growth rate and only 2% American GDP growth rate after 2030, China would probably not equal the United States in per capita income until sometime around the middle of the century.


American education used to set the global standard. But American education our primary and secondary schools, especially in less affluent districts, lags badly behind. This means that the quality of the labor force will not keep up with the rising standards needed in an information-driven economy. Improvement in the country’s K-12 education system will be necessary if the country is to meet the standards needed in an information-based economy.


It is time re-analyze the future of U.S. power. It is my belief that the United States is not in absolute decline and there is a reasonable probability that it will remain more powerful than any single country in the coming decades.


The problem of American power in the twenty-first century is not one of declining but one of realizing that even United States cannot achieve greatness without the help of others. The United States will need a smart strategy that emphasizes alliances and networks that are responsive to the new context of a global information age.
10:10 pm est

Today's news were posted 8:55 AM

Top Stories

American Economists Share Nobel Prize

New York Times - ‎49 minutes ago‎

2nd day of violent clashes in Egypt capital

CBS News - ‎10 minutes ago‎

Romney's Republican Challengers Avoid Mormon Question

BusinessWeek - ‎15 minutes ago‎

Secretive US X-37B Space Plane Could Evolve to Carry Astronauts

Fox News - ‎18 minutes ago‎

Stocks move higher on promise of action on European crisis

USA Today - ‎32 minutes ago‎

Rising Cain candidacy flips old narratives on politics and race

The Hill - ‎3 hours ago‎

Libya government forces corner Gaddafi loyalists in Sirte |

Reuters - ‎7 minutes ago‎

Opposition group: 31 die in clashes across Syria

CNN - ‎29 minutes ago‎

Poland: Near Final Count Confirms Tusk

TIME - ‎34 minutes ago‎

China to bring up arms sales to Taiwan in US talks

Boston Globe - ‎59 minutes ago‎

Liam Fox is an excellent defence secretary, says David Cameron

The Guardian - ‎28 minutes ago‎
8:00 am est

Europe helps itself by helping Greece

Researched by Gabriel Kazakias 6/26/20011

 

If Greece defaults on its debt, it would mean that those who (banks, governments and private investors) purchased any bonds would have to readjust their balance sheets. Other troubled countries such as Spain and Portugal could also follow leading to a wave of defaults that would severely affect the European zone and send shockwaves all the way to Wall Street.

Richard Bove’s conclusion, an analyst at Rochdale Research, is that Greece has defaulted already. We are arguing, he says, how to handle this situation in a way that is least destructive to the balance sheets. Ultimately an economy can generate so much debt that no matter what outsiders do, there is no solution.

It didn't work in Argentina. It didn't work in Brazil. It didn't work in Mexico. It didn't work in the whole Latin America during the crisis in the 1987 to 1991 period because Latin America had no accumulated savings. Europe, however, has massive amounts of accumulated savings and therefore European countries can blunt the blow by tapping the accumulated savings. But if the country is not generating the money, it simply can't pay the debt.

Although U.S. businesses are not severely exposed to Greece's economy, investors worry that if Greece defaults on its debt and leaves investors such as Greek bond holders out in the cold, financial trouble would spread to other troubled European economies, such as Spain's, Portugal's and Ireland's. If the European economy were to implode in a wave of defaults and associated bank failures, it could pull the U.S. economy down as well, since there is a lot of trade between the U.S. and Europe.

Europe has far more money as a whole than Latin America, so perhaps it can really help themselves and U.S. by helping Greece to avoid an economic disaster.

7:50 am est

What Greece Really Needs From Us Right Now

By Gabriel Kazakias 7/2/2011

Based on an article written by Gregory C. Pappas


Enough is enough let’s stop entertaining ourselves and others with the stereotype story about Greeks being lazy and sitting in coffee shops all day drinking frappe and ouzakia. This is not a fair description of the vast majority of Greeks. In fact, the Organization for Economic Cooperation and Development (OECD) ranks the Greeks second in the world -- as the second hardest working people after the South Koreans. If you need proof check it in
Forbes.


We've heard over and over again that the coffee shops are full and the bouzoukia are jammed. Yet, I am told that today you're lucky to find open bouzoukia even on a Friday night, making the few clubs that are still operating full and "jamming". Finally, the jokes about Greeks not paying taxes, let's see what happens when the role of the IRS is diminished in this country. Watch -- just watch -- how law-abiding American taxpayers quickly become tax-evading lawbreakers.

One more thing about Greeks breaking the law, Greeks are breaking the law because they can. They are evading taxes, and driving like madmen, and parking on sidewalks, and smoking in no-smoking areas -- because they can. And yes -- the public sector is out of control. The entitlements, pensions, retirement age requirements are insane, to the point that an entire generation of people have been brainwashed into believing that it is normal for the government to take care of its citizens from cradle to grave. I don't blame the average citizen but I blame the corrupt politician.  

What Greece really needs right now from us, as eloquently suggested by Gregory C. Pappas, is a series of serious initiatives that are both possible and realistic.


Below I summarize the suggested programs:

  1. A trust fund for our cultural heritage.
    Let's gather the wealthiest Greeks in America and the world and the financial whiz kids that populate Wall Street and engage their expertise to create a revenue-generating fund to serve both as collateral for the Parthenon, the Palace of Knossos and other sites critical to Greece's cultural heritage. A $100 million fund (owned and managed by the donors) per site could generate $5 million annually at 5% interest -- enough to preserve the sites and keep them open with experienced, private staff.
  2. A venture capital fund to support Greek entrepreneurs.
    Israel does it. India does it. Let's gather some of the nation's top Greek American venture capitalists to create a fund called Greece Future. This fund could seek out the great Greek innovators and encourage them to stay and build their businesses in Greece and not be forced to re-locate to Silicon Valley or London.
  3. A real Diaspora Bond mechanism for low and high level investors to support the future of Greece
    Again, other communities of nations like Israel and India have a bond mechanism that allows average citizens to support their homelands with shares as low as $1,000. Why can't we do this? Something like Israel Bonds. Supported primarily from U.S.-based Jews, the Development Corporation for Israel/State of Israel Bonds is one of the world's most dependable economic financial vehicles with 60 years of success. Worldwide sales have exceeded $30 billion and proceeds have played a vital role in transforming Israel into a regional superpower with unparalleled infrastructure.

What Greece faces today is child's play compared to the trials and tribulations of the events of 1922 when the humanitarian crisis in Asia Minor spilled into the Greek islands and mainland and millions of deprived Greeks who fled war were sleeping amidst the ruins of the Parthenon and housed temporarily in theaters and other public buildings.

Furthermore, Greece was again tested a few decades later during the German occupation and ensuing Civil War during which time one eighth of the entire population perished and over 3000 towns and villages were burned to the ground.

This might be a difficult period for Greece, difficult enough to make any country grumble but not for the Greek people, Greece will prevail.

7:46 am est

U.S., Europe and China

Gabriel Kazakias 10/01/2011


In these days of gloom about the future of Europe, three quick tests are in order. Who has the world’s biggest economy? Who has the most Fortune 500 companies? Who attracts most U.S. investment?


A) Europe

B) China

C) Asia

D) United States


The correct answer in each case is Europe (27-member European Union), a region with 500 million citizens. They produce an economy larger than the United States and almost three times as large as China’s. But, so far both the United States and Europe have failed to prove false the perception that they both might be left behind and let China rise to a superpower in this century.


Some claim that China will rise to be a superpower in this century, overtaking the United States in terms of gross domestic product by 2035. But those who subscribe to that theory might do well to remember the fate of similar long-range forecasts in the past. At the turn of the 20th century, for example, eminent strategists predicted that Argentina would be a world power within 20 years. In the late 1980s, Japan was seen as the next global leader.


Not so fast my friends, China has a long way to go to equal the power of the United States. Even if the overall Chinese GDP passed that of the United States around 2030, the two economies would not be equivalent in composition. China would still have a vast underdeveloped countryside. Assuming a 6% Chinese GDP growth rate and only 2% American GDP growth rate after 2030, China would probably not equal the United States in per capita income until sometime around the middle of the century. Per capita income provides a measure of the sophistication of an economy.   


It is my belief and hope that the United States is not in decline and will continue to be the leader of the world assuming that we will improve and adapt a smart strategy that emphasizes alliances and networks that are responsive to the global information age.  

7:44 am est

Sunday, October 9, 2011

How much does a helping hand cost?

Gabriel Kazakias 08/25/11

Finnish Prime Minister Jyrki Katainen said that his country may withdraw from efforts to rescue Greece if collateral is not offered. German Labor Minister Ursula von der Leyen proposed that Athens put up gold reserves and state industry stakes as collateral. Austria, Netherlands and Slovakia have also asked for collateral, threatening to delay the bailout.

Despite Greece having participated in two World Wars, Greece has been forced to repay and it repaid their loans from the international capital markets – loans that both legally and morally should have been withdrawn and declared void many decades ago.

In October 2009 the government reported that the Greek budget deficit went from 6-8% to approximately 15.4% of GDP. As a result, Greece was unable to sell its bonds in the international market and the government requested financial assistance from the IMF and the World Bank.

IMF and the World Bank agreed to provide Greece a 110 billion euro rescue package conditional on the implementation of austerity measures including cutbacks to existing pension and wages and dramatic changes in employment laws. The total World Bank loan amount is 80 billion euros, the IMF has agreed to provide extra 30 billion euros, bringing the total loan amount to 110 billion euros. Repayment will start the first quarter immediately after the expiration of 3 years and must be completed within 5 years. The loans are subject to quarterly reviews by the World Bank members and the IMF.  

Let us not forget, however, that there is an open international issue regarding the German Occupation loan (WWII) which was obtained by Germany for Greece in 1942. The matter of the loan repayment of 72 billion was first raised with Germany in 1945-1946 and again in 1964. It was initially noted that the repayment would occur upon the unification of Germany. However this has not occurred. In 1995 Former Greek Prime Minister Andreas Papandreou officially raised this matter but it was rejected by Germany and unfortunately, since 1995, no Greek Prime  Minister has again raised this issue. But if Greece is required to meet its loan obligations now, the same should apply to Germany.

PLEASE EXPLAIN TO ME SOMETHING. WHY DON’T WE, THE GREEKS, BRING THIS MATTER TO AN INTERNATIONAL COURT?

Financial experts say that Greece is going to need more money to avoid a messy default that could shake Europe's banking system and its entire economy.

REALLY?

EU officials concede that another bailout is needed but have not agreed on the conditions yet. Greece’s prime minister is talking with international creditors about a second bailout package "roughly equal" to the first 110 billion euro package accepted a year ago.

BUT WHAT IF GREECE DEFAULTS?

The biggest problem or advantage is that Greece shares a common currency with the other European nations, the euro. And so, unless Greece takes the step of breaking from the euro, Greece can’t devaluate its currency - a tool that has helped Argentina ride out its economic storm.

Usually after bankruptcy the commercial creditors do not expect to get paid, creditors like EU, ECB and IMF. Just for the record the one creditor that Argentina paid back in full was the IMF.
8:02 am est

Today's news posted at 8:54 AM

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Tuesday, December 6, 2011
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