As Greece celebrates the inauguration of its anti-austerity government, the euphoria should be tempered with a bit of realism. Although new Prime Minister Alexis Tsipras, who named his son “Ernesto” after Cuban revolutionary Ernesto “Ché” Guevara, and the vast majority of his new Coalition of the Radical Left (SYRIZA) government have good left-wing and pro-labor credentials, the same cannot be necessarily said of the man Tsipras chose to be Greece’s new finance minister. Yanis Varoufakisis a citizen of Australia who was educated in Britain and worked as a professor at the University of Texas. Europe has witnessed such dual nationals with conflicting loyalties take power in countries in Eastern Europe, most notably in Ukraine, where American Natalie Jaresko became finance minister in order to deliver International MonetaryFund (IMF) and European Central Bank (ECB) austerity “poison pills” to Ukraine. Continue reading
Tag Archives: Troy
Dublin Cyclist Killed During Biking Trip In Miami County
Another high-ranking banker gone under mysterious circumstances, this time via hit-n-run.
A 56-year-old Dublin man was killed Saturday morning when he was struck by a car in Miami County.
Joseph Giampapa was riding alone on Troy-Sidney Road when he was struck by a car at about 11:08 a.m. Saturday morning. Continue reading
Chinese Weibo users are salivating over Detroit’s bankruptcy
Downtown Detroit has long been one of the nation’s worst housing markets. Home values have plummeted. Vacancies abound. And foreclosure numbers are through the roof. Not that that’s surprising; who’d want to live in a neighborhood with soaring unemployment and the highest rate of violent crime in the US?
The bad news for Detroiters is that the city’s bankruptcy will likely only deepen the decay of its downtown housing market.
That might deter most prospective home buyers. But some look at Detroit’s hard times and see profit.
Specifically, bargain-hunting Chinese investors. Since the bankruptcy was announced on July 18, talk of snapping up Detroit housing for a pittance has picked up on Sina Weibo (link in Chinese), reports Sina Finance. And it appears to be translating into real interest; Caroline Chen, a real estate broker in Troy, Michigan, says she’s received “tons of calls” from people in mainland China. Continue reading