The issue of inflation is complex everywhere. Official rates are disputed. People can’t reconcile them with what they see at the store. There are different formulas, resulting in different rates, and everyone picks and chooses what suits their needs. But nowhere is the issue as “complex,” infested with lies, and shrouded in obscurity as in Argentina. But 34.9%?
Germany Fires Shot In China-EU Trade War … At Brussels
by Wolf Richter • • Comments Off on Germany Fires Shot In China-EU Trade War … At Brussels
The solar-panel industry, once fattened by taxpayer subsidies and false hopes, has been in a death spiral around the world. In the US, a slew of photovoltaic standouts like Solyndra went under, taking billions of subsidies and investor capital with them. In Germany, it has been just as brutal. Even large companies are licking their wounds.
The Quiet Triumph Of Oil And Gas In Obama’s Policies
by Wolf Richter • • Comments Off on The Quiet Triumph Of Oil And Gas In Obama’s Policies
‘ECB’s Desperation Is Taking On Epic Dimensions’
by Wolf Richter • • Comments Off on ‘ECB’s Desperation Is Taking On Epic Dimensions’
In my interview with Voice of Russia, I talk about the ECB’s fears for its own existence. I use Spain, which is stuck in an existential crisis, as an example of the greatest “achievement” of central banks: the separation of economic reality from stock markets. And I get a chance to lambaste the French finance minister who is once again barking up the wrong tree.
Germany ‘Second Economic Miracle’ And Other Psychedelic Feats
by Wolf Richter • • Comments Off on Germany ‘Second Economic Miracle’ And Other Psychedelic Feats
At first blush, the German economy appears to be ailing – at first blush because the stock market, in its omniscient manner, is predicting wondrous developments as it hop-scotches from one all-time high to the next. This relentless optimism has morphed into a breeding ground for projections into outright magnificence. But inconvenient data is getting in the way.
The Hollowing Out Of Chinese Manufacturing
by Wolf Richter • • Comments Off on The Hollowing Out Of Chinese Manufacturing
Japan’s Vacant Houses: Visions of Detroit
by Wolf Richter • • Comments Off on Japan’s Vacant Houses: Visions of Detroit
Unlike Detroit, which will run out of cash next month, Japan prints its own money, so bankruptcy in the Detroit sense is not in the cards. But they do have two things in common: depopulation and a ballooning stock of abandoned houses. For Japan, it’s an issue that even the most prodigious money-printing binge cannot resolve.
Russia’s Plan For The BRICS To Dismantle The Dollar System
by Wolf Richter • • Comments Off on Russia’s Plan For The BRICS To Dismantle The Dollar System
Contributed by Valentin Mândrăşescu, Editor of The Voice of Russia’s Reality Check. Former commodity trader, economist, journalist. Nomadic lifestyle. When not in Moscow, he can be found travelling across Eastern Europe. The status of the US dollar as the world reserve currency gives the US a number of advantages over other countries. The world’s most…
Every President His Bubble – And Its Aftermath
by Wolf Richter • • Comments Off on Every President His Bubble – And Its Aftermath
During their second term, Presidents become obsessed with “legacy.” One of the yardsticks to measure success is the stock market. Many people can relate to it. Retirement depends on it. It’s mentioned even on NPR several times a day. Outside of a few shorts, everyone wants it to go up. But President Obama must now be biting his fingernails down to the quick.
When Flight Safety Gets Outsourced To China
by Wolf Richter • • Comments Off on When Flight Safety Gets Outsourced To China
Aircraft maintenance was a highly paid blue-collar job that required education, training, manual skills, and brains. It was one of the perfect American middle-class jobs with generous healthcare, retirement, and vacation benefits; and free flights! They were working for icons like Delta, American Airlines, Continental, TWA, or Pan Am. Icons indeed!