Saturday, 20 March 2010

Stavrakis' unrealistic comments

"Σε πολύ καλύτερη θέση από την υπόλοιπη Ευρωζώνη η οικονομία μας"

Αισιόδοξος ότι με το προτεινόμενο πακέτο οικονομικών μέτρων θα βρεθούν οι λύσεις στην οικονομία και θα εξασφαλιστεί ευημερία για την κυπριακή οικονομία και τον Κύπριο πολίτη για πάρα πολλά χρόνια, παρουσιάστηκε ο Υπουργός Οικονομικών Χαρίλαος Σταυράκης.

Really? The GDP of 2009 were negative by 1.2% more than what the minister predicted (prediction -0.5% - real results -1.7%), making 2009 the worse year for the Cypriot economy since 1974. In addition the latest unemployment figures show a substantial increase, inflation is negative (a worrying sign for the economy) and the government has just cancelled all major and minor projects with the exception of the GSP roundabout. In the mean time Germany has a balance of payments surplus (i.e. it exported more than it imported)and with the exception of Greece, Portugal and Spain the rest of the Eurozone is predicted to grow faster than our own forecast of 0.5%.

The situation is grim- its time for bold actions. Slash government wage expenditure and increase government investment before it is too late.

Thursday, 4 March 2010

Buy memory chips and processors now!!!!

An earthquake in Taiwan today . As My friend Michael Papadopoudolos said a while back, the computer memory industry suffered a violent shortage due to the fact that the Taiwanese closed all factories in order to recalibrate the precision machinery that made the chips. Although a substantial number of factories have moved to mainland China, i am sure that memory and processor supplies will be hurt by this latest earthquake.