Wolf Richter

A Modest Proposal

What galls me the most in this entire imbroglio of our debt ceiling is the hypocritical approach of our politicians: A Congress that authorizes every dollar that gets spent, gleefully accumulating a pile of debt so vast it’s hard to wrap your brains around it; and administrations who have been eager to borrow and spend as directed by Congress.

Explosive Food

We get some of our harder-to-find Japanese foods directly from Japan by mail, though we have some good Japanese stores in the Bay Area. And normally, we don’t run into problems. Well, except once, when we were living in Belgium.

Schizophrenia in the Housing Market

Everyone and his dog reported the numbers on housing starts—up 14.6% to a seasonally adjusted annual rate of 629,000, the highest since January, plus or minus 10%. So that’s good, right?

Beyond Silly Metrics

Now that the hullabaloo around IBM’s 2Q11 earnings report is receding into the background, it’s time to have a gander at the only number on our corporate financial statements that is still a somewhat reliable indicator of actual earnings due stockholders. And it’s not what you think.

Night of the Living Debt

The worldwide night of the living debt continues with Greece, Italy, and the US. And so I mention them, nasty as I am, in the same breath with Japan.

Summer in San Francisco

Time to bundle up. Summer has arrived in San Francisco. 53° F (I’m not kidding), and this is what it looks like: The question I have is—and this might sound comical for my buddies in Tulsa who are getting roasted at 107° F—if I’ll make it through the summer without turning on the heater.

The M&A Typhoon

Another day, another series of mergers and acquisitions. Among the most prominent today: Carl Icahn’s offer to acquire Clorox Co. and BHP Billiton’s takeover of Petrohawk Energy Corp. The frenzy is blowing across the country with considerable violence. And just like the last typhoon before the financial crisis, it will leave behind massive job destruction.

Twin eggs!

 Double Yolkers! I admit, the two smaller but complete yolks in one egg are beautiful, and if I were God, I would have designed them that way from get-go, but it’s bizarre nevertheless. I can’t remember ever having seen twin eggs in my life, and now, suddenly, in the span of a year, I see…

Debt-Ceiling Pissing Match Seen from a Safe Distance

While Democrats and Republicans, jointly and severally, engage in an all-out pissing match over the national debt ceiling and the budget deficit that even has the Chinese worried, let’s take a moment and reflect from a safe distance on how we got here, and why nothing of significance is going to change.