A sadly familiar theme in the US—the growing ranks of the working poor—was fleshed out today. But the report did something else: it added graphic details to the conundrum of US healthcare spending: while it ballooned to $2.7 trillion, 17.9% of GDP, or $8,680 per capita, households have lowered their share. So have businesses. What gives?
A War To Reverse The French Government’s Descent Into Unpopularity Hell
by Wolf Richter • • Comments Off on A War To Reverse The French Government’s Descent Into Unpopularity Hell
Normally, the media would have given it priority: French President Hollande and Prime Minister Ayrault have become more unpopular than ever before. But the poll was shoved into the background by France’s bombing campaign in Mali—which released an avalanche of positive comments and support from all sides, at least in France. With impeccable timing.
CEO of German Multinational: Costs Of Monetary Union Too High
by Wolf Richter • • Comments Off on CEO of German Multinational: Costs Of Monetary Union Too High
Bernd Scheifele, CEO of HeidelbergCement—one of the world’s largest producers of construction materials with nearly 55,000 employees at 2,500 locations in over 40 countries—lashed out against European politicians and their inability to bring budgets under control. But he reserved the most devastating judgment for the euro itself.
Deaths From All Causes: The Short (But Not Necessarily Happy) Life Of Americans
by Wolf Richter • • Comments Off on Deaths From All Causes: The Short (But Not Necessarily Happy) Life Of Americans
Americans under fifty are paying the price. We don’t know exactly why. Even the panel of experts that authored the massive report, “US Health in International Perspective: Shorter Lives, Poorer Health,” admits that it can’t entirely pinpoint the reasons. But we do know how Americans under fifty, particularly males, are paying the price: with their lives.
How Americans Stack Up In Dying From Violence, War, Suicide, And Accidents
by Wolf Richter • • Comments Off on How Americans Stack Up In Dying From Violence, War, Suicide, And Accidents
Now some new fodder for the gun-control debate that the horrid events in Connecticut suddenly stirred into a frenzy, though it had been snoozing through the daily drumbeat of murders in Oakland, CA, a few miles across the Bay from me, or in Richmond to the north, or really in any other city. The fodder is inconvenient, however. For both sides of the debate.
Secret French Plan In the European War Of The Automakers
by Wolf Richter • • Comments Off on Secret French Plan In the European War Of The Automakers
“Volkswagen has chosen to wipe out PSA,” said a source in President Hollande’s entourage. PSA Peugeot Citroën, Europe’s second largest automaker, is teetering. Volkswagen Group, Europe’s largest automaker, is an invincible giant—that wants to reduce overcapacity in Europe “on the backs of the French,” the source said. Hence a secret plan, a desperate, misbegotten, and taxpayer-funded deal.
Corruption At “Decontaminating” Radioactive Towns In Japan
by Wolf Richter • • Comments Off on Corruption At “Decontaminating” Radioactive Towns In Japan
On Friday, the mayor of Futaba, a ghost town of once upon a time 7,000 souls near Fukushima No. 1, told his staff that evacuees might not be able to return for 30 years. Or never, for the older generation. He spoke in Kazo, Saitama Prefecture, where the town’s government has settled. It was the first estimate of a timeframe. But it all depends on successful decontamination. And that has turned into a vicious corruption scandal.
As Cars Burn In France, The Industry Of Hope Booms
by Wolf Richter • • Comments Off on As Cars Burn In France, The Industry Of Hope Booms
New Year’s Eve is the main event: 1,193 vehicles were set on fire. But it’s a year-round passion, with over 40,000 vehicles going up in smoke. A tradition no one has the balls to explain. In a country whose unemployment is climbing with incessant brutality, and whose automakers are bogged down with uncompetitive products in a morose market. But there’s an industry that is booming. The lottery.
Blowing Up: The Transfer Of French Nuclear Technology To China
by Wolf Richter • • Comments Off on Blowing Up: The Transfer Of French Nuclear Technology To China
Technology transfers, whether on a contractual basis or through theft, have long bedeviled companies that want to benefit from China’s cheap labor and 1.3 billion consumers. Automakers, aerospace companies, technology outfits…. it’s the price they have to pay. But when it seeped out that the largely state-owned nuclear industry in France was trying to sell its secrets to China to make a deal, oh là là!
Where The Heck Was The “Festive Spirit”?
by Wolf Richter • • Comments Off on Where The Heck Was The “Festive Spirit”?
Shocked and appalled—that was the reaction to the shopping-season debacle in the US. It was triggered by MasterCard’s ugly report. But now there’s a new term to describe “consumer spending,” “consumer debt,” and ultimately “trade deficits” when they occur as a function of such uplifting concepts as “holiday season” and “Christmas” whose magic is boiled down to just one issue: how much did everyone spend?