Greek Economics crysis contiunes to rise

The following night,Economics expert have guessed the estimated amount of money that Greece owns to the european union,Its an estimated 356 Billion Euro,it corresponds to 161 procent of BIP.Greece is currently sitting on a mountain of debt of approximately € 352 billion. This corresponds to 161 percent of gross domestic product (GDP). Are allowed under EU rules actually at most 60 percent. € 206 billion in assets are in the hands of private individuals, banks, insurance companies and hedge funds.

If the average debt succeed as hoped, the debt could be estimated by the EU and the International Monetary Fund IMF initially fall to 152 percent. By 2020 they are expected to fall to 120 percent - but only under the condition that the economy after several years of recession grows significantly again in 2013. This is however not yet in sight. For this reason, the IMF expressed concern about the interest rate. The banks say the other hand, an interest rate of three percent would entice anyone to participate in the debt section.

The partial debt relief for Athens to shoulder the private creditors' voluntary. Their involvement is a key building block for the second, 130 billion-euro aid program for Greece. The private creditors, including banks and hedge funds should replace existing loans into new, sacrificing part of their claims and also take into account lower interest rates.

Oil Boom

The Oil Boom caused many people to forget about living in Glendive,because the prices has gone Remarkeblhy,for example:the Price of a house used to be 400dollars,since The oil Boom started,the price went from 400 to 800or 1000dollars,which many people couldnt afford because of their montly wages,so they prefred to live in motels,but the problem is that its filled with workrs from the oil field.Because its the cheapest to get on housig.Another example would be a Local university in Glendive.They had troulbe finding staff for their students,all because they can afford housing made everyting difficult for Them and because the student  had alsmost no money,They were not able to live in outside the university campus,The people with scholarships had to stay inside the campus,they university could sustain the Situation by putting students of five in one room that was meant for only  4 Person.
Something Good about the oil boom,is that people That finish their uinversity,tend to get better jobs within the Oil drilling.
Negative thing for the university is that Graduates from the High School thought more about working on Oil fields rather than studying in universities.Mich may cause a Decrease of Income for The higher education system
People form the Government and the University had decied to come together to build a aparment for students that rented housing at a lower price.Many organization helped.
Since the Home for rent has went from 400 to 800 or 1000Dollars.
The demand  for houses went down,because the price increase alo
So its a inelastic curve.Which means if you increase the price the demand will go down explosivly.
Because the people cant afford to live in houses they
Many people decided to live in motel,which turned that all rooms were taken by the Workers.
Which means its a increase of the Demand curve.Because the competition for selling houses has gone up.the Business itself(Motel)will increase in revenue.
Student in University cant afford to live outside the University campus,The university was struggling to find matching staffs,That was caused by the price change.The supply of staff have decreased since the housing was too expensive.

Because the college doesn’t have a diesel instructor, the school can’t offer its gas and diesel classes that train students to work on automobile and diesel engines, including farm machinery.(Decrease of supply of diesel and gas)
Because Of the Oil Boom,Graduates from High school decided to work on oil field for 25$ an hour,instead of considereing to attened a college.Which means,The Income for university goes down,because the university need student to pay their tuition fees to be able to contiune their school,without the money,they might just close the school,or get Subsidy from government that can affect the University.
But having a Oil boom within the region can also means that Higher educated are likely to get Good salary jobs.That can increase a GNP of the state or country.

China Interested in Exotic

That's what the makers of world's most exotic and expensive sports cars are hoping as they gather in Macau this week for the first Asian edition of Monaco's annual Top Marques show that began eight years ago.

The supercar companies are chasing growth in China, which is churning out scores of new millionaires each year and is home to the world's biggest auto market.

Ferraris and Lamborghinis sat alongside rare and beautiful automotive works of art from lesser known marques like Italy's Pagani, West Richland, Wash.-based SSC and Sweden's Koenigsegg. They drew admiring looks from wealthy auto enthusiasts from China and other Asian countries.

Sales staff were hoping to sign deals with some of the 20,000 expected visitors. One of them was Steve Chen, who built his fortune in China with a motivational speaking business. He was admiring the Pagani Huayra, an €849,000 ($1.1 million) street rocket sheathed in carbon fiber and titanium with gull wing doors and a V-12 engine churning out 700 horsepower.

Chen was thinking of buying a Pagani or a Bugatti Veyron Grand Sport to add to his collection of 15 to 16 high-end cars, which he divides between his bases in Taiwan and Shanghai.

"I go to a lot of auto shows in China. I've loved cars since I was a kid and I have been collecting many different car brands," said Chen, who opened his leather satchel to reveal keys for a Ferrari, a Lamborghini and a Rolls-Royce, careful not to display them too ostentatiously.

Story: These luxury cars have the highest theft rates

Chen, who visited the Bugatti factory in France for a test drive, said he admired the Veyron's top speed of more than 400 km/h (250 mph) though he did wonder aloud to the sales staff why the car, which has a list price of 39 million yuan ($6.1 million) in China, was so expensive.

China's billionaire ranks, boosted by the country's fast-growing economy, swelled to 271 in 2011, 82 more than last year, according to the Hurun Report, China's version of the Forbes rich list. The number of millionaires grew by 85,000 in 2011 to 960,000. Rising wealth levels are reflected across Asia, which had 3.3 million millionaires last year, surpassing Europe for the first time and closing in on North America's top spot, according to a study by Merrill Lynch and Capgemini.

Car Theft

While some of the best-selling cars in the U.S. also top the most frequently stolen list each year because of their sheer numbers, another look at the statistics reveals which cars by percentage sold are the most likely to by targeted by thieves.

According to data recently released by the National Highway Traffic Safety Administration, the car most frequently stolen, based on the number of thefts per 1,000 vehicles sold during 2009, was the $92,000 Audi S8 sport/luxury sedan, with 8.81 thefts per 1,000 vehicles produced. That comes out to just two out of the 227 S8s that were sold in the U.S., so it’s hardly a widespread epidemic.

Still, NHTSA’s statistics prove the point that the flashiest cars on the road can also be the most popular — for the wrong reasons.

The Ford Shelby Mustang GT had the next highest theft rate for 2009, with 8.61 vehicles per 1,000 stolen. Also in the top five were the sportiest variant of BMW’s midsize sedan, the M5 (7.58/1,000), retro-flavored Dodge Charger full-size sedan (6.47/1,000) and the no longer produced Honda S2000 roadster (5.60/1,000).

The remainder of the top 10 list of cars with the highest theft rates for 2009 included the midsize Mitsubishi Galant sedan (5.11/1,000), the full-size Chrysler 300 sedan (4.57/1,000), the Infiniti M luxury sedan (4.32/1,000) the Cadillac STS luxury sedan (4.28/1,000) and the Mercedes-Benz CL-Class luxury sport coupe (3.91/1,000).

By brand, the most frequently stolen cars per 1,000 sold, were Chrysler products, with the Chrysler Sebring, Sebring Convertible and PT Cruiser, and the Dodge Avenger and Dodge Caliber making the top 20 in addition to the aforementioned 300 and Charger.

Price Elasticity of Demand

The degree to which demand for a good or service varies with its price. Normally, sales increase with drop in prices and decrease with rise in prices. As a general rule, appliances, cars, confectionary and other non-essentials show elasticity of demand whereas most necessities (food, medicine, basic clothing) show inelasticity of demand (do not sell significantly more or less with changes in price). Also called price demand elasticity. See also cross price elasticity of demand

Price Elasticty of Demand:

Elasticty of demand-is greater than 1 but less than 0

Inelasticty of demand-Is less than 1 but greater than 0

 

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Sony
An unknown group of Hackers tried to
The group, which calls itself LulzSec, said on Thursday that it broke into servers that run Sony Pictures Entertainment websites, and then compromised the personal information of more than 1 million Sony customers.
Sony officials could not immediately be reached for comment.
It posted some of the data it accessed on the Web -- including the names, home and email addresses, and passwords of some customers. But said it did not have the resources to extract and publish all of what it collected.
"From a single injection, we accessed EVERYTHING," the hacking group said in the statement. "Why do you put such faith in a company that allows itself to become open to these simple attacks?"

This is the latest embarrassment in an ongoing security crisis for Sony, which discovered in April that hackers had broken into its networks, stealing data from more than 100 million accounts. Nobody has claimed responsibility for that attack.

But Sony's networks have since become a target for hackers looking for holes that will allow them to get into servers located around the globe. Sony had confirmed at least four other break-ins prior to the attack on Thursday.
LulzSec had claimed responsibility for one of those attacks, an assault on Sony Music Japan.

The group took credit for Thursday's attack in a note posted on its website. It said it had hacked into a database that included unencrypted passwords as well as names, address and birth dates of Sony's customers.

The original attacks, considered the biggest in Internet history, prompted the Japanese electronics giant to shut down its PlayStation Network and other services for close to a month.

IB Economy,Philips

The United States of America (US or USA) is the largest and most important economy in the world. In 2010, The US economy was responsible for 20.218 percent of the world’s total GDP (PPP) or US$ 14.624 trillion.

They are facing a financial criysis since WW2.The usa is unable to recover from 2008,which was the worst Economy Crysis,Like that from the great depression,On the other hand,they must pay alot of dept to other countries.Especially china,USA owe them alot.Which causes USA to grow slowely.

It will affect us because,if the country earn less,the prices may rise,so the government can get right on track again.

Domestically, the US economy’s frailties were cruelly exposed during the 2008 financial crisis. The US economy has found it harder to recover from the 2008 financial crisis, believed to be the worst financial crisis since the Great Depression, as compared to previous downturns. Consumer confidence within the country is at all time low, perpetuating the slow economic growth since 2008.