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Papadino

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  • Bank of America Leak Exposes Alleged Force-Placed Insurance Fraud [View article]
    @GreenRiver
    Very well said...The tax incentives are so enormous that even losing money on Force Placed Insurance Policies is a winning proposition for the banks...By my extremely modest calculations, the banks are stealing more than $2 Billion from the American people/gov't in the form of tax savings...see below: Force Placed Insurance
    lenderprovidedinsuranc.../
    May 27 10:35 AM | Likes Like |Link to Comment
  • Prepare for an Avalanche of ECB Debt Monetization in 2011 [View article]
    If they do manage to establish a super-sovereign entity in the Eurozone, it will be short lived.

    In my opinion, the Eurozone, in its current or super-sovereign form, is doomed. The two main reasons (other than the current massive sovereign debt issues) are:

    1. The immobility of labor
    2. The universal interest rate in dichotomic economies

    These enormous issues are accentuated by language barriers, long established cultures, pride (regardless if there is a basis for it), and a scapegoat mentality. In the current low interest rate and low inflation environment, the aforementioned points are not insurmountable. However, when the German inflation fears start to brew and the PIIGS are still in economic turmoil/extremely slow growth, look out...as the pressure will rise...

    The points that Robert brings up in his article add fuel to the fire. The future of the EU should turn out to be very entertaining....
    Dec 30 09:14 PM | Likes Like |Link to Comment
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