Monthly Archives: November 2013

Catalan Politician Does Unthinkable, Threatens Spain’s Creditors

by Don Quijones •  • Comments Off on Catalan Politician Does Unthinkable, Threatens Spain’s Creditors

By Don Quijones: There are things politicians should never do – assuming they want to hold on to their jobs. Using the dirty “s” word (sovereignty) is a definite no-no. Also high up on the list of “don’t dos” is threatening the interests of foreign creditors and bondholders.

The IEA Finally Gets it Right

by Oilprice.com •  • Comments Off on The IEA Finally Gets it Right

By Dan Dicker, Oil & Energy Insider: The IEA report on Crude supplies has got me thinking, an accomplishment for the IEA; it has been woefully behind the curve on most major energy trends of the last two decades. But this time, it is finally in front of the curve.

Municipal Bankruptcy? Why Not! And so The Floodgates Open

by Wolf Richter •  • Comments Off on Municipal Bankruptcy? Why Not! And so The Floodgates Open

Individual investors have a unique opportunity now to buy sewer bonds – yup, that’s where they belong – issued by a bankrupt county to pay off holders of defaulted sewer bonds who’ll get a fashionable haircut as part of the deal – a deal made in bond-bubble heaven.

Outcry as Canada Considers Nuclear Waste Facility on US Border

by Oilprice.com •  • Comments Off on Outcry as Canada Considers Nuclear Waste Facility on US Border

By Charles Kennedy, OilPrice.com: Canadian plans for a large nuclear-waste facility on the Canadian side of Lake Huron, directly opposite the thumb of the State of Michigan, are triggering a cross-border public outcry and a looming diplomatic backlash.

NSA Spying Crushes US Tech Companies in Emerging Markets (“An Industry Phenomenon,” Says Cisco’s Chambers)

by Wolf Richter •  • Comments Off on NSA Spying Crushes US Tech Companies in Emerging Markets (“An Industry Phenomenon,” Says Cisco’s Chambers)

Cisco CEO John Chambers had a euphemism for it during the earnings call: “challenging political dynamics” in China, without ever naming the NSA. Then there was India and others, including Russia where Snowden is holed up, and where sales outright collapsed.

EU Citizenship Goes On Sale, Price War Breaks Out

by Wolf Richter •  • Comments Off on EU Citizenship Goes On Sale, Price War Breaks Out

The huddled masses yearning to breathe free in the EU drown by the boatload in the Mediterranean. They languish in detention centers in Greece and elsewhere. They’re maligned, hounded, sometimes killed. But it’s getting cheaper and easier for the rich.

Does QE Boost Employment? (Somebody Should Send This To Yellen)

by Contributor •  • Comments Off on Does QE Boost Employment? (Somebody Should Send This To Yellen)

By Lee Adler, The Wall Street Examiner: Overlaying raw employment data from the Bureau of Labor Statistics with the Fed’s balance sheet offers surprising insights. Brief must-see video with excellent chart and explanation. Somebody should send it to Yellen.

“Confessions” Of A Master Of Revolving Door Between Wall Street And The Fed

by Wolf Richter •  • Comments Off on “Confessions” Of A Master Of Revolving Door Between Wall Street And The Fed

We’ve known it all along, but now a former Fed insider confirmed it. QE, despite the Fed’s relentless efforts “to spin it as a tool for helping Main Street,” was “the greatest backdoor Wall Street bailout of all time.” But it’s complicated. He’s a revolving-door Wall-Street banker.

The Day The Bubble Became Official, And Everyone Was Happy

by Wolf Richter •  • Comments Off on The Day The Bubble Became Official, And Everyone Was Happy

A new era has dawned: there is now a consensus that this is a stock market bubble. We’re back where we were during the last bubble, or the one before it. How do I know it’s not just some intrepid souls on the bleeding edge who are claiming this, but a consensus?

German Industry Dreads Getting Slammed By The Costs Of Green Energy

by Oilprice.com •  • Comments Off on German Industry Dreads Getting Slammed By The Costs Of Green Energy

By Scott Belinksi, Oilprice.com: In Germany, where renewable energy has been aggressively pushed, companies may soon lose an exemption from expensive renewable energy surcharges. Business leaders worry this will “destroy Germany’s industrial core.”