Wolf Richter

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?

The Stock Bubble In Context (Will The Last Bear Please Turn Out The Lights?)

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Stock market bubbles – they allow investors to make the mostest the fastest – don’t happen in a vacuum. They happen in a context. But this time, the context is different. Very different.

French Megabank: “Germany Should Leave The Eurozone”

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Suddenly, there’s a solution to France’s economic crisis. Unlike the cacophonous clamor from the far right to drop the euro, this one is attractively presented with graphs and in terms that even a French politician might understand. And it’s not contaminated by partisanship.

Seems The NSA Spied On Me When I Lived In Belgium

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Another Edward Snowden revelation indicates that I, a humble, incoherent, harmless, and (mostly) law-abiding American, may have gotten tangled up in the NSA’s vast spying dragnet for inexplicable reasons of national security. It’s getting personal.

Japan Is Used To Natural Disasters, But This One Is Man-Made

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The dogfight over Japan’s biggest problem, its gargantuan government deficit, entered its annual ritual of leaks and pressure tactics that usually lead to a pre-Christmas draft budget with an even bigger deficit. But this time, it’s different. Very different.