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The Blanche Report March 28, 2013

We are not commenting on the total losers that spent four hours in the metro system – not for traveling purposes. We are commenting on the fact that such an item had to go on the front page of the Gazette. Why give these lowlifes any publicity? And how arrogant were they to take videos of what they were doing. If the police have videos and pictures of these idiots, then find out who they are and prosecute them to the full letter of the law.  That’s when it should go into the papers, to show others who may have the same inclination that society does not tolerate such behavior. And one more thing. We wonder, as we are sure the police do, if any of these individuals take part in the ‘student’ demonstrations.

Cities in Cyprus did not dissolve into street riots today when the banks re-opened after two weeks. But things there are frightening to say in the least.

The country’s second-largest bank Laiki, is to be split up, with its healthy assets being absorbed into the Bank of Cyprus. Savers with more €100,000 ($129,000) in either Bank of Cyprus and Laiki will face big losses. At Laiki, those could reach as much as 80 per cent of amounts above the 100,000 insured limit; those at Bank of Cyprus are expected to be much lower.

The capital controls include limiting daily cash withdrawals to €300 ($383) per person and limiting payments abroad to €5,000 ($6,400). No checks can be cashed, although they can be deposited. Anyone leaving the country, whether Cypriot or a visitor, can only take up to €1,000 ($1,290) with them in cash.

Some individuals and businesses, spotting that Cyprus’s economy was in trouble and that a tax on deposits was being discussed, had moved their money out of Cyprus well before the banks closed their doors last week. Stay tuned – this story is far from over. Remember that Carnival cruise from you-know-where? Well, they are trying to cover up more issues.  We wrote about Carnival Dream’s generator problems. But no one heard about Carnival Legend’s sailing speed malfunctions and their Elation’s steering issues. Which of the cruise ships is next in line for a breakdown? This week, Carnival announced that the Carnival Sunshine will begin later than originally scheduled, resulting in the cancellation of two sailings. In addition, the Carnival Triumph will not be back in operation until June, cancelling an additional ten sailings. May we suggest that if you are planning to book a vacation on the high seas you choose another cruise company?

How convenient – gas prices are going up just in time for the long weekend. Collusion anyone? At the highest government levels.

And what about the fact that the city of Montreal can’t find any asphalt in the whole province of Quebec? Give us a break.  If you think that just because there is a corruption commission the pressure is off the small companies you are wrong. There are plenty of smaller companies all over Quebec that could easily supply asphalt but, regardless of all the coverage, we guess that those putting pressure in the way of sympathy cards to healthy individuals is not yet over. It cannot be only the seven companies under the microscope are the only ones with asphalt. We hope that you had a very happy and healthy first days of Passover. The second days begin on Sunday night ending Tuesday night. Most likely we’ll send out a blog next Thursday night.

Good Shabbos and Good Yom Tov

We’ll talk…

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