Monthly Archives: February 2014

Why My BS-O-Meter Redlined In The Minimum-Wage War

by Wolf Richter •  • Comments Off on Why My BS-O-Meter Redlined In The Minimum-Wage War

“There is never a good time to raise the minimum wage,” explained Joseph Sabia, an associate professor of economics at San Diego State University. The Capitol Hill briefing was co-sponsored by the Employment Policies Institute, which is tied to the fast-food industry.

Stinking Corporate Revenues, Desperately Doctored Earnings-Per-Share

by Wolf Richter •  • Comments Off on Stinking Corporate Revenues, Desperately Doctored Earnings-Per-Share

Last quarter was tough on large US corporations – those in the S&P 500 index. Unperturbed, the index soared all year. But its 343 companies that have reported so far have exposed the ugly underbelly of the worldwide economy: revenue “growth.”

A Month of Panic in Iraq (Where It’s STILL All About Oil)

by Oilprice.com •  • Comments Off on A Month of Panic in Iraq (Where It’s STILL All About Oil)

Despite the continued influx of investment in Iraq, the situation is untenable and each month moves closer to an all-out civil war. First, we’ll give you the security run-down, then we’ll get into the oil.

I’ve Hammered On Japan’s Fiscal Nightmare, Abenomics, TEPCO, And Debacles… But There’s More To Japan

by Wolf Richter •  • Comments Off on I’ve Hammered On Japan’s Fiscal Nightmare, Abenomics, TEPCO, And Debacles… But There’s More To Japan

Dear Readers, friends, traders, gladiators, hard-working guys dreaming of retirement…. My personal relationship with Japan goes back to 1996, so here’s something different, something that isn’t cynical and harsh and dark, but appreciative and I hope enjoyable.

German High Court Blows Up Euro, Says ‘Oh Wait,’ Abdicates

by Wolf Richter •  • Comments Off on German High Court Blows Up Euro, Says ‘Oh Wait,’ Abdicates

The ECB’s money-printing and bond-buying promise, lovingly dubbed Outright Monetary Transactions, became the bailing wire and duct tape that has kept the Eurozone together to this day. Turns out, it’s illegal under the EU treaties and unconstitutional in Germany.

Argentina’s Tempestuous Tango At The Edge Of The Abyss

by Don Quijones •  • Comments Off on Argentina’s Tempestuous Tango At The Edge Of The Abyss

For a while it seemed the government’s unique mathematics had miraculously enabled Argentina to overcome insurmountable economic challenges. Now reality caught up with it.

Epic Droughts: Fracking, Water Supply In Mexican Standoff

by Oilprice.com •  • Comments Off on Epic Droughts: Fracking, Water Supply In Mexican Standoff

Fracking poses a growing risk to water supplies. Groundwater contamination has been making headlines, but in parched states like Texas and California, fracking’s massive consumption of water threatens fracking itself.

Cracks In The Tech Bubble (That Doesn’t Exist)

by Wolf Richter •  • Comments Off on Cracks In The Tech Bubble (That Doesn’t Exist)

It’s “a technology everyone is going to have,” said a Bay Area real estate broker as he explained why realtors use drones to shoot aerial videos of high-end properties. And it’s illegal. But no one is going to be able to stop it, he implied.

Fed Flails About To Squash “Misleading” (Very Inconvenient) Unemployment Measure

by Wolf Richter •  • Comments Off on Fed Flails About To Squash “Misleading” (Very Inconvenient) Unemployment Measure

The Fed uses the easing unemployment rate as proof that its heroic policies are successful and that Bernanke could ride off into the sunset with a nimbus above his head. Other official measures are less gung-ho. And the most important one has become the Fed’s nightmare.

Giant Sucking Sound? Emerging-Markets Fiasco To Topple European Banks

by Wolf Richter •  • Comments Off on Giant Sucking Sound? Emerging-Markets Fiasco To Topple European Banks

It’s not like Europe is out of the woods, after years of recession, lurching from bank bailout to country bailout, and sweeping remaining fetid matters under the rug. But its banks are now sinking deeper into an even greater morass: the emerging-markets fiasco.