Wolf Richter

Economic Growth in America’s “Two-Tiered Society”

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It’s been glorious: global M&A in Q2 soared 47% to $1 trillion, highest since 2007, just before the financial crisis. But in California, 30% of the people making less than $40k were in worse financial shape than last year, despite all the bubbles around them.

UBS: The Secret Reason The Fed Is ‘Tolerating’ Bubbles

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“Asset prices have reached stunning levels, obviously out of line with ‘fundamentals.’ The “most dangerous” are housing bubbles; when they burst, they “wreck whole economies.”

Google Glass Hacked, Can Record Everything You Stare At

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You don’t need to break a code; you don’t need to capture a server. “Hardcore hackers wouldn’t even bother with it,” says one of the hackers. “They’d find access too easy.”

Federal Regulator Details Crazy Risk-Taking By Banks, Blames Fed

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Banks are again taking the same risks that triggered the financial crisis, and they’re understating these risks. It wasn’t an edgy blogger that issued this warning but the Office of the Comptroller of the Currency. And it blamed the Fed’s monetary policy.

Investment Bank: The End Of US Economic Growth

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“We fear that, once the effects of monetary stimulus disappear in the US, the weakness of the economy due to income inequalities may suddenly be revealed.”

TESTOSTERONE PIT (My Soul) Gets A New Name

by Wolf Richter •  • 19 Comments

No, I didn’t sell out, though I had an offer. Don’t worry, I won’t go mainstream. Or go soft on Wall Street. I won’t water down my sarcasm, either. But there are big changes coming.

Last Time Corporate America Did This, The Stock Market Crashed

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So what happens when these huge and reckless buyers with their nearly endless resources start cutting back after a phenomenal peak? Well, we know what happened in 2008.