Monthly Archives: December 2013

Ukraine, Third-Highest Default Risk In The World, Squeezed By Russia, Makes Two Gas Deals To Save Its Hide

by Oilprice.com •  • Comments Off on Ukraine, Third-Highest Default Risk In The World, Squeezed By Russia, Makes Two Gas Deals To Save Its Hide

By Scott Belinksi, OilPrice.com: If one were to believe most Western media outlets, the Ukraine has been lost to Russia. But two gas deals the Ukraine has reportedly made, one with Russia, the other with Slovakia in the EU, show that reality is slightly more complex.

Putin Liquidates State-Owned Media Groups, Tightens Stranglehold On Survivors (As Other Governments Watch Enviously)

by Wolf Richter •  • Comments Off on Putin Liquidates State-Owned Media Groups, Tightens Stranglehold On Survivors (As Other Governments Watch Enviously)

Vladimir Putin issued decrees that liquidate RIA Novosti, a state-run news agency with reporters in 45 countries, publishing in 14 languages including English, and too much of a mind of its own.  And he is building a formidable propaganda machine. Other governments watch enviously.

Silicon Valley Frenzy: Big Bucks, Big Data, and Spying

by Wolf Richter •  • Comments Off on Silicon Valley Frenzy: Big Bucks, Big Data, and Spying

The government spy-services marketplace, part of Big Data, is juicy. Investors clamor to get in on it. Scores of startups have sprung up. The hottest one is Palantir. Its valuation jumped 50% in three months – to $9 billion! Its technologies, designed for the CIA to track terrorists, have transitioned to track you and me.

Microsoft Protests NSA Taps (I Hear The Crinkly Sounds Of A Bag Being Pulled Over My Head)

by Wolf Richter •  • Comments Off on Microsoft Protests NSA Taps (I Hear The Crinkly Sounds Of A Bag Being Pulled Over My Head)

That the NSA might have tapped into Microsoft’s “cloud” services, along with Google’s and Yahoo’s, turned into a publicity nightmare. Now Microsoft, which collaborates tightly with the NSA and other agencies on a host of projects, counter-attacks. With very mixed results.

Germany’s Complex Export Religion In One Chart

by Wolf Richter •  • Comments Off on Germany’s Complex Export Religion In One Chart

Today we got another morsel from the German export smorgasbord, along with a beautiful long-term chart from the German statistical agency that says it all.

Why Bitcoin Is Such Dizzying Fun

by Wolf Richter •  • Comments Off on Why Bitcoin Is Such Dizzying Fun

Even as the world was still desperately trying to figure out what exactly Bitcoin is, it was inducted into the Wall Street hype factory today by an analyst who touted it as the best thing since sliced bread – just when all heck was re-breaking out.

What the Hell Just Happened in Córdoba?

by Contributor •  • Comments Off on What the Hell Just Happened in Córdoba?

In the last 24 hours, the province of Córdoba spiraled out of control, the very fabric of society torn apart. A sudden absence of law and order sent people into a looting frenzy. Residents and store owners boarded up windows, grabbed shotguns, and climbed to their roofs, waiting for the encounter with the enemy.

How Crazy Is The Auto Financing Frenzy?

by Wolf Richter •  • Comments Off on How Crazy Is The Auto Financing Frenzy?

A “positive spiral effect?” Lenders are closing their eyes, sales are soaring, risks are piling up, auto loan balances jumped 15% in 12 months to an all-time high, and repossessions in the subprime segment more than doubled.

Currency Controls: Argentina Cracks Down on Foreign Travel

by Bianca Fernet •  • Comments Off on Currency Controls: Argentina Cracks Down on Foreign Travel

By Bianca Fernet, Argentina, The Bubble: In 2012, Argentina introduced a 15% tax on credit card purchases made in foreign currency. Which turned into 20%. And now, after promising not to raise it again, the government raised it to 35% and closed the last legal window to acquire dollars at the official rate.