Greece: Looking Over the Edge

      Last week in nytimes Magazine, writer Suzy Hansen wrote a piece on Greece, her Minister of Finance, and the current state of negotiations with the EU finance ministry and representatives of the ECB, the IMF, and the German Minister of Finance.  The article focused on Yanis Varoufakis, the newly appointed minister.  He has been on the job a scant 4 months, but has been in negotiations most of that time in Brussels and other western European cities.  All to discuss conditions to salvage the Greek economy/the Greek membership in the Eurozone.
      It has not been a cake walk.   No decision has been reached to date.  Conditions in Greece resemble conditions in various nations in the 1930's during the Great Depression.   No single banker, no single economist, no group of either bankers or politicians has been able to convince Greece to act in a manner that satisfies all parties involved.  There are innumerable reasons for this, not the least is that it is new economic territory to a degree.  Yanis has an academic background and has never held political office unlike many of the representatives he must negotiate with.  He has been a critic of his own government and its policies.  On top of this, he was appointed by a newly elected president who represents a radical left political party, the Syriza.   He is also outspoken about his positions, primarily that the enforcement of austerity on the Greek population does not work and those who depend on pensions from the state have no alternatives to their financial plight.  He has popular support across a broad segment of the people and communicates well with many via social media.  A key point in Ms. Hansen's article stresses the population figures for Greece: it is a country of 10 millions.
      The question nobody seems to ask: how does an economy based on 10 million citizens bring down a continent with 350 million people?  There are more souls in Southern California than in all of Greece!  It appears that someone's economic theories are insufficient.
      Now let's advance one week, the last day of May, 2015.  What's going on?  More of the same desperate moves by a scared citizenry:  withdrawal of funds from Greek banks.  Yes, this could be just a continuation of past moves by account holders.  It could also be a response to the impending deadline for a settlement between negotiators over the debt.  Since the end of 2010, bank deposits have dropped by E100 billion-yes, 100 billion Euros.  Since September 2014, they have gone down by 33.3 billion Euros.  Not a pretty picture, especially if you are a Greek bank, a Greek politician, or a European banker with outstanding loans to these same banks.  But, in a case of contrary investment strategy, John Paulson of hedge fund Paulson & Co., has held 132 million shares of Piraeus Bank, making him the 3rd largest share holder.  He also holds shares in Alpha Bank, down from a high of E 140 million to about E 70 million now.  All eyes are focused on the coming weeks to see who blinks.  

Report From Poland

    Recently, Poland has experienced a flood of migrants streaming across its eastern boundary.  That is the boundary it shares with Ukraine.  Hmmm.  What's going on here?  Well, with pressure on Ukraine's eastern regions-the Donbass, the Russyan backed rebels are driving residents out of the area, forcing them to head west.  because of the lack of jobs, housing and an uncertain future, these migrants must seek shelter.  However, Poland is unaccustomed to a flood of migrants.   Since Ukraine still has a viable government, these migrants cannot claim refugee status.  They must claim asylum.  Legally, asylum seekers can ask for a temporary legal status in the EU according to rules established by  Brussels, to which Poland adheres.  Given the lack of government facilities, Ukrainians already in Poland are helping out their countrymen; providing services and counseling them on job opportunities, housing, and healthcare.  Good work Poland !

St. Petersburg Comes to New York

      Remember when Mad Vlad was the deputy mayor of St. Petersburg?  Oh, come on?  It wasn't that long ago.  Yes, while a mid-level cog in the KGB wheel, he worked in the "burg" as a watchdog for the Kremlin.  But our story today involves a little cross cultural exchange-they still happen against the backdrop of geopolitics.  The  St. Petersburg Philharmonic Orchestra will play a one night concert at famous Carnegie Hall featuring an all Russyan program including Tchaikovsky Four and Shostakovich Five.  Time: Friday, June 12, 2015 at 8pm.
     Promoters call it "Russyan Day" at $25/each ticket.  Rumors abound that the Russyan Consulate is buying up tickets to distribute to the homeless.  Maybe the Cultural Attache' can induce a few Ukrainian refugees to show up and scream obscenities at the musicians. Oh, well, that's Russya today.

John Kerry on DL

     So, you have a high profile job; have responsibilities; you are a representative of a national government.  Why are you riding your bicycle on a street in a foreign country?  Irrational exuberance?
     Our sympathies go out to Secretary of State John Kerry,  resting comfortably in a Swiss hospital where he was taken to mend his broken femur.  He will be unable to continue his schedule in the near term, including a trip to Spain to sign an agreement of defence cooperation.
DL= disabled list

Evergreen Air & Space Museum

P-51D- Mustang

Spitfire

F4-U Corsair

P-38 Lightning

       Portland, Oregon enjoys a terrific reputation as a cosmopolitan urban center.  Conveniently located on the banks of the Columbia River at the mouth of the Willamette River as it joins the larger Columbia.  West of Portland, in what is called the Willamette Valley is the Oregon wine country.  Covering the low hills that undulate across the fields,  grape vines, staked and wired on their trellises, achieve a martial stance in the precise alignments of the rows.   Rarely are these vines old and knarled: they are relatively youthful, having been planted within the last 10 years.  Small ag towns such as Dundee, Carlton, Bergman, and Yamhill punctuate a landscape shaped by fields of grasses for fodder for the cattle ranches.  A few silos remain, but seem out of place.  This vineyard center features one of America's most preferred wines: Pinot Noir, the red grape that has captured the taste buds of many wine drinkers.
      The largest urban center is in McMinnville, about 35 miles west of Portland.  It's a college town, home of liberal arts school Linfield College.  Nearby, is the McMinnville Airport which can handle small commuter aircraft and general aviation aircraft.  Next to the airport is the Evergreen Air & Space Museum.  The brainchild of Del Smith, founder of Evergreen Aviation.  Initially, in 1960, Del Smith began innovative aerial agricultural spraying and seeding, providing fast, efficient methods that changed the face of farming and harvesting technique.  Over time, he assembled a private collection of vintage aircraft from the early and mid- 20th century.  A full-sized replica of the 'Spirit of St. Louis" is just one of many.  World War II war birds are represented in many vintage forms. A P-51 is here; a P-40, a P-38 Lightning; a B17- Flying Fortress, and an F4U- Corsair fighter in its resplendent Navy blue.
     The center piece of the aviation hangar is Howard Hughes Hercules transport seaplane, aka 'the Spruce Goose'.  This massive craft is stunning in its central position.  Over 100 yards wing tip to wing tip gives credence to aeronautical engineering in the 1940's wartime era.   It actually flew(film provided) with Hughes at the controls.   It has been restored and repainted and is available for interior examination/touring.  The 8 GE propeller engines give testimony to the size of the plane.

P-40 Warhawk

H4 Hercules 8 engine all wood transport

St. Vladimir: Moscova, May 2015

      A controversy has erupted in Moscova over St. Vladimir.  Seems some locals are not happy with the Federation's plans to erect an 82' high statue of the image of Russya's patron saint, St. Vladimir.  Now, what's behind this issue?  Really.
      Vladimir the Great, aka Prince of Novgorod, Grand Prince of Kiev, ruler of Kievan Rus' from years 980 to 1015.  His father was Prince Sviatoslav of the Rurik Dynasty.  He was married to Malfrida, Rogneda of Polotsk, Allogia.  He and Malfrida were prolific in the true sense of the term.  They  begot 17 children-12 sons and 5 daughters.  Impressive in that alone.  Old fat Josep Stalin would have awarded them "hero of the Soviet Union"  status on those grounds by themselves.  He was accorded sainthood around 1258 by the Orthodox Church as a defender of the Church.  That status is recognized around the world, even in San Francisco, California at the Orthodox Church.  So, now, why?

New 'Doo' for Vlad: Cool

          

       President Vladimir wants to create a connection in the mind of his critics over his Crimean/Ukraine adventures.  Now this comes at a time when FIFA scandals are whipping across the globe, tainting all things soccer, all things World Cup, and all things related to the awarding of venues for the games in 2018(Russya) and 2022(Qatar).   Vlady commented that this is just another USA slight against Russya and himself: the face of NovoRuss.
       Some Moscovites believe the size and placement of an 82' statue would damage one of the city's great views(are you kidding me?)  Some say it's too big; others claim it's too small.  But all agree it's a brazen attempt to sway opinions of geopolitical thought.  True.  Even as Kremlin- controlled TV has dropped extensive use of the term novorussya as it applies to Ukraine(Donbass) and Crimea.
He's acting more and more like somebody we knew about 70+ years ago in central Europe. 

Road Trip: Willamette Valley

   After the wedding, we hit the road-I-5, and continued north, focusing on the Willamette Valley and the wine country that has developed outside of Eugene, OR., and west of Portland, in the vicinity of McMinnville, OR.  At this location, the Willamette River gets lazy, looping around in wide "S" turns, almost creating a classic Oxbow here and there.  This area is the southern extent of the Columbia Plateau, with significant deposits of volcanic based soils.  The river also deposited sediments, creating in effect 2 zones of soil types: basaltic and sediments.   While not exactly in a rain shadow area, the region enjoys warmer weather than the coastal zone to the west.  temperatures here are ideal for some whites and red varieties of grapes.   In the early 80's, faced with inflationary prices in California's wine country, potential owners came to the area with high hopes.  A few vineyards already existed and some good reports made the idea bear fruit(Ha).
      Besides McMinnville, the towns of Carlton, Dundee, and Newberg offer local wineries and vineyard operations.   In Carlton, one winery has taken over the old railroad station; another has moved into the old firehouse; and another is in an old warehouse.  Several more are in stone building from the era of intense agricultural farming.  One is closed and for sale.  Clearly, wine making and production are Carlton's newest attempt at staying healthy.  Driving from town in any direction brings one to more wineries amongst the vineyards, some located in solitary situations, surrounded by vines.  The low rolling hills are reminders of California's wine country.