Wolf Richter

Bailout Rebellion in Germany Heats Up

Geithner gets smacked down, and Germany might be threatened by a populist movement to exit the E.U. For the first time ever, a clear majority of Germans no longer sees any benefits to being part of the Eurozone. And two-thirds reject aiding Greece and other heavily indebted countries.

Tokyo Tidbit: Still Doing That? But Not Only Japan

Many Japanese don’t understand why it’s still being done when most of the world opposes it. Yet it’s still being done: Japanese whalers caught 195 whales under a “research” program. But other countries do it, too. Yup, even us.

Snapshot Of Our Calamity Economy

The economy is going back to hell, but stock markets are surging. Nothing new. It always ends in tears. But this time, the Fed’s money-printing strategy will make things only worse. Today’s horrid numbers show us why.

Dear Ben, Please Make Us Trillionaires

Trillionaire. Just the sound of it! It’s beautiful, Ben. But without your help, we’ll never get there. So, at your meeting next week, think about us. Because the way you make trillionaires is by printing money.

China Puts The Screws To BMW

And BMW blinks. With sales of new vehicles approaching 18 million units in 2011, China is the largest car market in the world, far ahead of the US. No major car maker would want to miss out on the opportunities in China. Yet, there is a problem: Pressure by the Chinese Government to transfer the newest technologies.

Don’t Try This At Home

A couple in Nagasaki, Japan, made sashimi out of a fugu he’d caught in a nearby bay. An hour after eating it, her lips and limbs got numb. He also developed symptoms. The neurotoxin in the otherwise comical fish was beginning to paralyze them.

Tokyo Tidbit: New Prime Minister Embarks on his Descent

All Japanese prime ministers since Koizumi slither down a steep slope for 8 – 15 months. When their popularity drops into the teens, they’re axed. The latest new guy is Yoshihiko Noda. His popularity during the first round of polls is still high. But oh no! His new ministers are talking.

Obama: Gut Social Security Now, Don’t Wait Till The Election

Incredible that a Democrat would propose that our Social Security system should be gutted starting immediately to get an up-tick in GDP just before the election. But President Obama’s proposal to cut payroll taxes in half will do just that.

Remember him? Went after Social Security too.

Germany Special: Divorce, Remarry, Get Fired

The right of German religious organizations to terminate an employee for violating their moral codex, even in deeply private situations, has been affirmed by the Federal Labor Court. And they’re among the top employers in Germany! If you’re a divorcee and work for a Catholic hospital, you may get fired if you remarry. Heck, you may get fired for getting divorced.

Let’s Just Raid Social Security

Out of one side of its mouth, our political system talks about reforming Social Security to preserve it for a few more years, and out of the other side of its mouth, it proposes to expedite its demise. Where’s the duct tape?