An Unofficial Tracking Blog of World Famous Financial Gurus.
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12:01
Greek students have had a rough winter in extremely cold classrooms due to the lack of heating resources, resulting from local authorities who are simply unable to cover the unbearable cost of heating oil. The organization Open Society Foundation, founded by the great American investor George Soros, offers donations worth millions of euros in oil so that children can sit in a warm classroom.
Schools in the 2 biggest municipalities of Greece have been lucky enough to have their oil tanks filled thanks to Mr. Soros’ donations.
The municipality of Thessaloniki has accepted up to 90 tons of oil since March 2013, for schools and other institutes. The municipality of Athens follows with a total of 40 tons of oil. Next in line is the city of Naousa, considering that students have to take lessons in polar temperatures. The mayor of the town, Mr. Tasos Karampatzos, despite the reactions and disagreements on the parents’ side, has already contacted the Foundation and asked for an oil supply that would cover the needs of the region’s schools.
Source @ greece.greekreporter.com
00:59
Our whole economy in the U.S. is based on debt. Its based on borrowing to consume, borrowing to speculate. The government is financing itself based on debt, all these checks they are mailing out are based on debt.
The rates need to be practically zero in order for anybody to afford servicing the debt. That is how enormous the debt is and when the FED eventually lets interest rates rise, everything comes crashing back down, much worse than 2008.
