Wolf Richter

Confident In The Security Of Skype And Other Encrypted Services?

Internet companies know practically everything about their users. And servers never forget. Advertisers, ID thieves, insurance companies, and others are trying to get this data. But “law enforcement” around the world can simply bully its way to it. Now Microsoft confessed: even your data and conversations on its encrypted services that you thought were secure aren’t because, upon request, it gives the crypto keys to governments around the world.

A CEO Explains Why He Sold A German Soul To the Chinese

Putzmeister was a paragon of the German Mittelstand—family-owned firms with innovative technologies and high-quality manufacturing that dominate their niches worldwide. But in 2012, it was acquired by a Chinese giant. Now its German CEO reveals just how impossible integration is and how dire not only Europe but the world look to him, particularly China.

Will the Real Clowns Please Stand Up?

Contributed by Don Quijones: Italy has Beppe Grillo. But with European governments reeling from self-inflicted crises, and the euro debacle descending into a tragi-comic farce, one wonders who the real clowns are – especially here in Spain, where ministers gorge themselves on the public purse, leaving behind a trail of evidence so obvious that even the mainstream media can’t ignore it.

Growth Industry In France: Hounding Companies For Back Taxes and Penalties

For corporate welfare queens that know how to leverage worldwide tax systems, France offers a free ride. But as the French government tries in a vain and desperate effort to make ends meet, it’s not only going after multinationals and their tax optimization schemes but also smaller companies that are gasping for air. Revenues from aggressive collections—“not far from blackmail,” an insider says—have jumped, one of the rare areas of growth in France.

Housing Bubble 2: But This Time It’s Different

We have seen it for several years: foreclosure sales have become the hunting grounds for investors with two goals: hanging on to these homes until the Fed’s flood of money drives up their value; and renting them out. Thousands of smaller investors have piled into the game. And so have the giants. But now the second half of the equation is collapsing.

The Fed’s Token Voice Of Reason: Megabanks Undermine Americans’ Faith In Democracy

At the CPAC, as Republicans struggled with the future, some speakers drew crowds of over 1,000 people. But Dallas Fed President Richard Fisher was shuffled off to “an out-of-the-way ballroom” with barely two dozen people showing up; yet he’d talk about “the injustice of operating our economy under the thumb” of too-big-to-fail banks.

IMF: Eurozone Banks Are In Trouble, Trample Taxpayers and Democracy To Bail Them Out!

Why is it that 17 nations have to fundamentally reorganize themselves and shift sovereignty away from national parliaments to new layers of transnational, beyond-control bureaucracies that can extract untold wealth from taxpayers—just to save the banks?

At The Confluence of Free Money, Pent-Up Demand, And Reality

New vehicle sales have staged a phenomenal recovery from the financial crisis, when buyers went on strike. Sales below the replacement rate create a vacuum that wants to be filled. Pent-up demand. When it kicked in, sales jumped by over 10% annually. Exuberance took over the bludgeoned industry. But late February, something happened to that vacuum.

Potential Cost Of A Nuclear Accident? So High It’s A Secret!

Catastrophic nuclear accidents, like Chernobyl or Fukushima, are very rare, we’re told incessantly. But when they occur, they’re costly. So costly that the French government, when it came up with estimates, kept them secret. But the report was leaked: an accident at a single reactor in a thinly populated part of France could cost over three times France’s GDP.

Is The End Of The ‘Coercive Euro Association’ Taking Shape In Germany?

Anti-euro movements have been squashed by political establishments across the Eurozone. Then Italy happened. Two anti-austerity parties captured over half the vote and threw the status quo into chaos. It stoked a fire in Germany where Chancellor Merkel’s bailout policies have hit resistance. Now the heat is on to dissolve the “coercive euro association.”