Monthly Archives: July 2013

The Jobs Curse At Amazon (And Obama Stepped Into It)

Amazon’s promotion machine shifted into high gear to tout President Obama’s visit to one of its warehouses where he unveiled his “better bargain” for “middle class jobs.” The visit was artfully synced with Amazon’s announcement that it would create 7,000 jobs. Out of nothing. One of the ongoing lies in America’s jobs crisis – and Obama stepped right into it.

NSA Spying in Germany: Turning “A Parliamentary Democracy Into A Banana Republic”

“The largest espionage scandal in the 21st century is shaking Germany,” wrote Peer Steinbrück, the man who’s desperately trying to unseat one of the most popular German politicians, Chancellor Merkel. Massive anti-NSA protests spread across the country. Well, 1,000 demonstrators straggled through Frankfurt. It’s going to be tough for him.

David Stockman: Hedge Funds And The Rule Of Rips And Wrecks

“At junctures of extreme financial stress, the high level of carry trade funding” that hedge funds use during bubbles “results in violent market reversals,” David Stockman writes. “Wholesale funding evaporates and involuntary asset sales cascade into a bidless abyss.” Hence the collapse of 2000–2003 (45%) and 2008–2009 (55%). Now they’re doing it again.

The Exquisite Art Of Marketing To Pauperized Consumers

People in the upper income categories, those who don’t have to worry about the price of toilet paper, have seen their incomes rise over the years. The rest are in a downward spiral: median household income, adjusted for inflation, has dropped 7.8% since 2000. The lower end got hit the hardest. For these folks, tissue makers have a special strategy: desheeting.

The Worldwide Surveillance And Privacy War (Which You Already Lost)

From tiny app makers to giants like AT&T, they’re all part of Big Data. They chase after billions by collecting, storing, and mining personal data. Data is money. Much more than money, if governments get it. Which led documentary filmmaker Cullen Hoback to lament: “The craziest thing is that I didn’t realize I was making a horror film.”

The Systematic, Unrelenting Deterioration Of Japan’s Trade

The all-out effort by Japanese Prime Minister Shinzo Abe to print money, stir up inflation, devalue the yen, blow asset bubbles, and pile on even more government debt – a newfangled religion called Abenomics – is bearing fruit. But the primary objective, creating a trade surplus to crank up the real economy, is failing miserably.

Japan Inc. Wins Big, Gloating Ensues

“We welcome the ruling party’s victory,” announced Hiromasa Yonekura, chairman of Sumitomo Chemical, and chairman of the Japan Business Federation, the country’s largest business lobby. He is one of the faces of Japan Inc. He’d been handed a gift: the ruling coalition controls both houses of parliament and will push Abenomics deep into the system.

Germany’s Government-Sponsored Export Machine Takes Aim At Greece, Argument Breaks Out

When going overseas, Chancellor Merkel doesn’t leave home without planeloads full of executives from Germany’s most coddled companies – exports being the core of foreign policy. And if these deals get snagged on the rusty nails of payment risks, it’s up to the government to help out with guarantees, even if they’re infested with conflicts.

David Stockman: Hedge Funds And The Regime Of Insider Trading

“As the Fed transformed Wall Street into a casino,” wrote David Stockman, “arrangements for insider speculation took on massive size,” with “hedge fund footings” soaring from $150 billion in 1990 to $3 trillion by the 2007–2008 peak. Trading books of Wall Street banks grew even more explosively. Together, they formed “the fast money complex.”

“Who Could Trust Such A Company?” – The Big Fat Lies About Radiation Exposure Of Workers At Fukushima

The nuclear fiasco in Japan has shaken the omnipotent nuclear industry – and government agencies that aided and abetted it. Yet they still obfuscate the consequences of the triple melt-down. Latest revelation: the number of workers at the plant with cancer-inducing radiation doses in thyroid glands was eleven times higher than disclosed last December.