Oil Price Soars, Rig Count Plunges Worst Ever, But Bloodletting Just Beginning by Wolf Richter • Jan 30, 2015 • 8 Comments Oil companies are dead-serious about slashing costs. A matter of survival.
The American Dream Dissipates at Record Pace by Wolf Richter • Jan 30, 2015 • 7 Comments Instead of a home, let them buy toxic, rent-based, synthetic structured securities.
“Recipe for Disaster”: Canadian Government to Expand State Surveillance Powers (Again) by Wolf Richter • Jan 29, 2015 • 2 Comments The “spillover effects” of overbroad anti-terror legislation.
“Oil Capital of California” Declares Fiscal Emergency by Wolf Richter • Jan 29, 2015 • 3 Comments Oil bust, sins committed & false promises made in good times sink Kern Country.
Alaska’s State Budget Collapses by 50% by Oilprice.com • Jan 28, 2015 • 2 Comments Alaska gets 90% of its budget from oil taxes, and now that budget is $3.5 billion short.
Iran De-Dollarizes Its Trade by Oilprice.com • Jan 28, 2015 • Comments Off on Iran De-Dollarizes Its Trade Sign of a liquidity squeeze.
Hounded by Evil Dollar & Collapsed Commodity Prices, Corporate America Clamors for Total Currency War by Wolf Richter • Jan 28, 2015 • 9 Comments Financial engineering can only do so much.
Global Drug Trade Gets More Efficient, Defies US War on Drugs, Revolt Builds in Latin America by Don Quijones • Jan 27, 2015 • 5 Comments The German connection.
Junk-Bond Bubble Implodes Beyond Energy, Deals Scuttled, Yields Soar, Suddenly “Insufficient Demand” by Wolf Richter • Jan 27, 2015 • 12 Comments A sense of unwelcome reality hits non-energy junk-rated companies.
Greece’s Hard Choice: Escape or Merely Reset EU Servitude by David Stockman • Jan 26, 2015 • 13 Comments The “Syriza Shock” – beginning of the end of unimpeded rule by elitist apparatchiks who dominate central banks and the economic policy machinery.