Wolf Richter

Suddenly A Nasty Fight over Subsidies for Nukes in Europe

The meltdowns at Fukushima that have caused so much havoc have also paralyzed Japan’s nuclear power industry. The last of its 54 reactors will be taken off line in May. “Deindustrialization” grips power-starved Japan. TEPCO, owner of the plant, is bailed out with trillions of yen in taxpayer money. And now, halfway around the world, in the EU, nuclear power is lining up to suck at the teat of the taxpayer, but ingeniously, those in other countries.

A Greek Impossibility: 2 Millions Missing Jobs

It’s not like the hapless Greeks—and by extension their foreign sponsors—don’t already have enough problems on their hands. Now comes the Hellenic Statistical Authority with its just released Labor Survey that showcases a job market and unemployment issues that were the ugliest ever. And within this sobering picture there was one number that knocked the breath out of hope itself.

A Grimy Dipstick into France’s Gritty Economic Realty

The first quarter of 2012 was brutal for businesses in France: 16,206 filed for bankruptcy. A trajectory that may demolish the prior annual record set in 2009 during the financial crisis when 61,595 firms went bust. Since then, bankruptcy filings eased off. Now the direction has changed—and worse, it is hitting larger companies and a lot more jobs. But the French have a solution, one that would violate fundamental rules of the EU.

Radiation: Once Again Ballyhooed As Safe … Until Oops!

It’s always the same thing: for decades they tell us there’s no problem with radiation from x-rays or other sources; the doses are so minuscule and infrequent that it would be like…. And they come up with some hoary example, such as “a 42-minute walk outside.” Decades later, after millions of gullible or option-less people have been exposed to it, a new study comes out linking that very type of radiation and those doses to some nasty disease

Big Brother Everywhere

A friend, who was installing Skype on a new computer, was baffled when Skype suggested contacts that weren’t on his Skype contact list but in his address book. Turns out, apps are gateways that pilfer voluminous personal information, not only address book data but also … sexual preferences. Nothing is safe. And not just of the user but also of his or her friends. And now the government is trying to catch up in the race to get our information.

Deer Sashimi

The thin slices of raw deer are served with raw onion rings, fresh garlic, fresh ground ginger, and a vinegar-soy sauce. The best meat dish I’ve ever eaten. But I shouldn’t have eaten it.

The Real Reason For Deflation in Japan

Japan was a shockingly expensive country twenty years ago. Back then, the US government pushed Japan to open up its markets, and it is still pushing, in some sectors with little success. But over the years, Japan has become less restrictive to imports. The result: more competition and lower prices—but surprising barriers remain, and some prices are still astoundingly high.

Greece: Even Corruption Is In A Deep Recession

Transparency International just published the results of its National Survey on Corruption in Greece, which tried to sort out the kind of bribery and petty corruption that households had to deal with in their daily lives. The results were sobering, as they tend to be with corruption surveys—but in an unexpected way: for those asking for bribes, an outright depression has commenced.

An IMF Absurdity

On April 20, finance chiefs and central bankers of the G-20 hold a shindig in Washington DC. At issue is money. Bailout money for the Eurozone. The IMF wants to dig deeper into its pocket, but the amounts are skyrocketing, and … “We certainly need more resources,” explained IMF Managing Director Christine Lagarde. Bankrupt countries try to bail out bankrupt countries. And taxpayers everywhere get to foot the bill.

A New Beginning in Japan: Glimmers of False Hope?

April 1 marks a new beginning in Japan and coincides roughly with the arrival of cherry blossoms. The first ethereal pink was sighted last week in Kochi. Now blossoms have appeared in Tokyo. Full bloom is expected by Friday. Last year, after the horrific earthquake and tsunami that took over 18,000 lives, cherry-blossom events had been canceled. But this year, it’s different. And there is even an uptick in the numbers.