by Wolf Richter • • Comments Off on Corporate Earnings Goofiness Goes Hog Wild
Corporate earnings season has been a doozy before it even got started. The well-scripted song and dance, designed to pull a bag over investors’ heads, works marvelously: stalled revenues and earnings propel stocks higher. But the shenanigans are bumping into limits.
by Wolf Richter • • Comments Off on The Most Despised Tax-And-Retreat French President Has ANOTHER Plan
President Hollande has a solution to France’s economic quagmire, with odds like a lottery. He’d launch a “responsibility pact” – one of his many phrases to haunt him later. It would be a radical shift. When you come to the end of your bumpy road, veer to the right.
by Wolf Richter • • Comments Off on Bernanke’s Delirious Praise For His Handiwork, The Concentration Of Power At the Top Banks
Bernanke wanted to reflect on the “accomplishments of the past eight years,” demolish the “sceptics” that still doubted the Fed was the best thing since sliced bread, and pat himself on the back. His policies “have helped promote the recovery,” he said. The “recovery” of what?
by Wolf Richter • • Comments Off on Plug Power, “Exhibit A” Why Most Hot IPOs Suck Long Term
Plug Power soared 68.4% in the first two trading days this year. Not because it got a buyout offer but because it made another one of its promising announcements. The stock is up by a factor of seven since July to close at … $2.61. Down from $1,500 in March 2000.
by Wolf Richter • • Comments Off on Fizzing Optimism For Wild Financial Engineering In 2014
Nothing could have been a more pungent metaphor for the current investment climate than the headline, “Macau gambling revenue hits record $45 bn in 2013.”
by Wolf Richter • • Comments Off on So This Isn’t Exactly A Rosy Outlook For 2014, Or Something
Central banks rule! We’ve seen it in 2013. They’ve accomplished the impossible: separating stock markets from the economies they’re based on. But in 2014, the US and China are trying to unwind these crazy policies – without taking down the entire global economy.
by Wolf Richter • • Comments Off on Cracks Forming In Housing Bubble II (But This Time It’s Different)
Number one is Palo Alto, epicenter of Silicon Valley craziness, where home prices are now 40% higher than they were at their prior bubble peak. What are we calling this phenomenon? Bubble? Nope. “Housing recovery.” But the middle class has hit a wall.
by Wolf Richter • • Comments Off on LEAKED Confession: Cesspool Of Greek-German Corruption
Apparently, it has been impossible to sell Greece any weapons at all, not even a water pistol, without bribing officials at the Defense Ministry. But it takes two to tango. And in holier-than-thou Germany, the defense industry has been all too eager to dance with Greece.
by Wolf Richter • • Comments Off on Next Shoe to Drop in Broke California’s Lopsided ‘Recovery’
If you come to San Francisco or Silicon Valley and look around, you’d think California is booming, that companies jump through hoops to hire people, that they douse them with money, stock options, and free lunches. And some do. But in other parts of the state?
