Wolf Richter

Microsoft Protests NSA Taps (I Hear The Crinkly Sounds Of A Bag Being Pulled Over My Head)

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That the NSA might have tapped into Microsoft’s “cloud” services, along with Google’s and Yahoo’s, turned into a publicity nightmare. Now Microsoft, which collaborates tightly with the NSA and other agencies on a host of projects, counter-attacks. With very mixed results.

Germany’s Complex Export Religion In One Chart

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Today we got another morsel from the German export smorgasbord, along with a beautiful long-term chart from the German statistical agency that says it all.

Why Bitcoin Is Such Dizzying Fun

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Even as the world was still desperately trying to figure out what exactly Bitcoin is, it was inducted into the Wall Street hype factory today by an analyst who touted it as the best thing since sliced bread – just when all heck was re-breaking out.

How Crazy Is The Auto Financing Frenzy?

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A “positive spiral effect?” Lenders are closing their eyes, sales are soaring, risks are piling up, auto loan balances jumped 15% in 12 months to an all-time high, and repossessions in the subprime segment more than doubled.

Growing Expectations Of TBTF Bank Creditor Bailouts Tighten Their Tentacles Around Taxpayers

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One of the few rebellious Fed heads, Richmond Fed President Jeffrey Lacker, fired a salvo when testifying before the House Judiciary Committee. He hit Wall Street risks covered by implicit government guarantees in the size of America’s GDP.

Strung-out Consumers, Desperate Retailers, Crummy Sales

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Tally: 7 deaths, 90 injuries from shootings, stabbings, tramplings, fights, pepper sprayings…. “Only in America people trample each other for sales exactly one day after being thankful for what they already have,” a tweet explained. It’s been tough for retailers too.

Unemployment Crisis Hits Economic Wunderkind Austria

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In Eurostat’s “harmonized” unemployment rates for EU Member States, Austria is the glory land for job seekers: 4.8% unemployment, in first place, a universe apart from Spain (26.7%) and Greece (27.3%). But this “harmonized” rate is bologna. Austria is facing a growing crisis.

This Inflation Is Supposed To Be GOOD For Japanese Workers?

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Japan’s new economic religion of printing yourself out of trouble works. For the elite. This is a lesson learned from the Fed. But how are workers and consumers faring? And by implication the real economy?

How Much Is My Private Data Worth? (Google Just Offered Me Money)

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The first thing I noticed after I’d removed the glossy brochure from the envelope was the crisp $5 bill. I’m a sucker for free money. After peeling it off the letter, I started reading. It was from Google and involved a lot more money – in return for just about all my private data.

Young Woman in China Buy Maseratis

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In the US and Europe, 95% of the buyers are male. Average age is 55. What’s different in China?