NSA’s “MUSCULAR” Secretly Breaks Into The Cloud Of US Tech Companies, Siphons Off Data, Fouls Up Revenues Overseas
by Wolf Richter • • Comments Off on NSA’s “MUSCULAR” Secretly Breaks Into The Cloud Of US Tech Companies, Siphons Off Data, Fouls Up Revenues Overseas
OMG, Those “Who Truly Rule The World”
by Wolf Richter • • Comments Off on OMG, Those “Who Truly Rule The World”
Most powerful person in the world? Putin! Sez Forbes. At least, it wasn’t Merkel, who has been throwing her weight around when she found out that her Handy had been bugged by the NSA, just like our cellphones. We have to take it; she gets to make a big stink and gripe to Obama on the (bugged) phone.
The Smart Money Denies They’re The Smart Money As They Franticly Sell Their Crown Jewels Before The Bubble Blows Up
by Wolf Richter • • Comments Off on The Smart Money Denies They’re The Smart Money As They Franticly Sell Their Crown Jewels Before The Bubble Blows Up
A Devastating Problem Japan Does NOT Have: Unemployment
by Wolf Richter • • Comments Off on A Devastating Problem Japan Does NOT Have: Unemployment
Twitter IPO A Dud? Yes, Says Survey of Financial Advisors (But You’ll Own It “Whether You Want It Or Not”)
by Wolf Richter • • Comments Off on Twitter IPO A Dud? Yes, Says Survey of Financial Advisors (But You’ll Own It “Whether You Want It Or Not”)
Brokers, financial advisors, and wealth managers are a recalcitrant bunch, suddenly, after having gotten their manicured fingers burned on a few super-hyped IPOs, and now they just refuse to get exuberant about the Twitter IPO. At least that’s what they indicated in a survey. But individual investors, well, that’s another story.
American Boondoggle Meets Chinese Methods
by Wolf Richter • • Comments Off on American Boondoggle Meets Chinese Methods
BYD, the name of a Chinese electric vehicle and solar panel maker, stands for “Build Your Dream.” Maybe that’s what they’re trying to do in China. But here, they’re building a nightmare: broken promises, falsehoods, design flaws… all lushly funded by American taxpayers. And they paid Chinese workers in California $1.50 per hour to do it.
Last Hope For Holiday Shopping Frenzy: The Few Who Can Splurge
by Wolf Richter • • Comments Off on Last Hope For Holiday Shopping Frenzy: The Few Who Can Splurge
Consumer spending hasn’t exactly been hot. With one big exception: auto sales. At 20% of total retail sales, they’ve been phenomenal and propped up overall retail sales. But in September, there was a downdraft. The calendar got blamed. And in October, there was the government shutdown and debt-ceiling debacle. And now all bets are off.
Hiding Inflation: People Get Bigger, Airline Seats Get Narrower
by Wolf Richter • • Comments Off on Hiding Inflation: People Get Bigger, Airline Seats Get Narrower
Selling airline tickets to our increasingly pauperized consumers is an art. And hiding price increases is an even greater art. While there are people who don’t worry about the price as they luxuriate in first class, others aren’t so lucky. For them, the industry has a special treat: squeezing their hips.
What Will It Take To Blow Up The Entire Japanese Banking System? (Not Much, According To The Bank of Japan)
by Wolf Richter • • Comments Off on What Will It Take To Blow Up The Entire Japanese Banking System? (Not Much, According To The Bank of Japan)
Buried in the Bank of Japan’s Financial System Report is a gorgeous whitewash doozie: if interest rates rise by 1 percentage point, it would cause ¥8 trillion ($82 billion) in losses across the banking system. Banks would be able to digest it. The system is safe. But then the report tallied up the losses of a 3 percentage point rise.