Secretary-General María Dolores de Cospedal, number two of the governing party in Spain, said that she knew she’d get criticized, “but this is pure Nazism.” The next day, she repeated it and added that going to someone’s house to “harass” him was “comparable to what occurred in the 30s in a European country.” A reference to Nazis marking the homes of Jews. But these “Nazis” are folks who are standing up to the banks and draconian mortgage laws that the government is hell-bent on protecting.
Google Spy Drones For Street View?
by Wolf Richter • • Comments Off on Google Spy Drones For Street View?
In 2009, Google CEO Eric Schmidt, under fire for his company’s strategy to collect, store, and mine personal data, said on CNBC, “If you have something that you don’t want anyone to know, maybe you shouldn’t be doing it in the first place.” Privacy just makes you appear guilty. It’s the philosophy under which police states operate. But why a sudden about-face?
Austria’s Last Stand Against EU Assault On Bank Secrecy
by Wolf Richter • • Comments Off on Austria’s Last Stand Against EU Assault On Bank Secrecy
The Gloriously Ballooning Bailout Bedlam Of Cyprus
by Wolf Richter • • Comments Off on The Gloriously Ballooning Bailout Bedlam Of Cyprus
The average Cypriot household had a phenomenal net worth of €670,900 in 2010 – over three times that of German households. That wealth had been sucked out of the cesspool of corruption that the banks and the government were, until neither had a drop of lifeblood left. Now the party is over. And you can almost hear the snickering among European politicians.
“During The Last Crisis, We Had China,” Now We Have No One
by Wolf Richter • • Comments Off on “During The Last Crisis, We Had China,” Now We Have No One
There could not possibly be any clouds on the horizon with the Dow and the S&P 500 setting all-time highs, while the German DAX is marching relentlessly towards 8,000 and the Japanese Nikkei is soaring. But just then, a deeply connected representative of the world’s real economy spoils the rosy scenario.
From Tax Hell to Tax Haven
by Wolf Richter • • Comments Off on From Tax Hell to Tax Haven
Eurozone countries are falling like dominos. Next: Slovenia. But bailouts – by taxpayers in other countries – keep banks from collapsing, governments from defaulting, and investors from incurring well-deserved losses. In the US, President Obama’s budget, with its new taxes, is causing heart palpitations left and right. But how do countries really stack up?
Total Fiasco: Germans are the Poorest, Cypriots the Second Richest in The Eurozone
by Wolf Richter • • Comments Off on Total Fiasco: Germans are the Poorest, Cypriots the Second Richest in The Eurozone
In March, the ECB-organized Eurozone-wide household-wealth survey results trickled out. But when the Bundesbank refused to publish the German data, insiders leaked the reason: too explosive for the bailout era because Italian households were far wealthier than German households. Shocking! And a red herring. The truth turned out to be far more shocking.
The Fed’s Fear Scale: Holdings of Cold Hard Cash At A Record
by Wolf Richter • • Comments Off on The Fed’s Fear Scale: Holdings of Cold Hard Cash At A Record
My Talk With An Endangered Species: An Entrepreneur In France
by Wolf Richter • • Comments Off on My Talk With An Endangered Species: An Entrepreneur In France
The mood in France is dark and has turned away from politics, he said. People always expressed hatred for certain politicians; now they express hatred for the system. Comments are more violent. People are looking for a strong voice that can pull them out. “When the Fourth Republic collapsed, we had de Gaulle. What if the wrong person comes along now?”
Suddenly No Solution For 56 Million Gallons Of Highly Radioactive Toxic Waste Leaking Into The Ground
by Wolf Richter • • Comments Off on Suddenly No Solution For 56 Million Gallons Of Highly Radioactive Toxic Waste Leaking Into The Ground
Engineers have done a great job developing nuclear technologies to serve mankind’s many endeavors: medical devices, power generators, or formidable weapons to wipe out mankind and its many endeavors. Yet they haven’t figured out what to do with the radioactive, toxic materials these technologies leave behind. And we’re shuffling them to the next generation.