It’s not like the hapless Greeks—and by extension their foreign sponsors—don’t already have enough problems on their hands. Now comes the Hellenic Statistical Authority with its just released Labor Survey that showcases a job market and unemployment issues that were the ugliest ever. And within this sobering picture there was one number that knocked the breath out of hope itself.
A Grimy Dipstick into France’s Gritty Economic Realty
by Wolf Richter • • Comments Off on A Grimy Dipstick into France’s Gritty Economic Realty
The first quarter of 2012 was brutal for businesses in France: 16,206 filed for bankruptcy. A trajectory that may demolish the prior annual record set in 2009 during the financial crisis when 61,595 firms went bust. Since then, bankruptcy filings eased off. Now the direction has changed—and worse, it is hitting larger companies and a lot more jobs. But the French have a solution, one that would violate fundamental rules of the EU.
Radiation: Once Again Ballyhooed As Safe … Until Oops!
by Wolf Richter • • Comments Off on Radiation: Once Again Ballyhooed As Safe … Until Oops!
It’s always the same thing: for decades they tell us there’s no problem with radiation from x-rays or other sources; the doses are so minuscule and infrequent that it would be like…. And they come up with some hoary example, such as “a 42-minute walk outside.” Decades later, after millions of gullible or option-less people have been exposed to it, a new study comes out linking that very type of radiation and those doses to some nasty disease
Big Brother Everywhere
by Wolf Richter • • Comments Off on Big Brother Everywhere
A friend, who was installing Skype on a new computer, was baffled when Skype suggested contacts that weren’t on his Skype contact list but in his address book. Turns out, apps are gateways that pilfer voluminous personal information, not only address book data but also … sexual preferences. Nothing is safe. And not just of the user but also of his or her friends. And now the government is trying to catch up in the race to get our information.
Deer Sashimi
by Wolf Richter • • Comments Off on Deer Sashimi
The Real Reason For Deflation in Japan
by Wolf Richter • • 4 Comments
Japan was a shockingly expensive country twenty years ago. Back then, the US government pushed Japan to open up its markets, and it is still pushing, in some sectors with little success. But over the years, Japan has become less restrictive to imports. The result: more competition and lower prices—but surprising barriers remain, and some prices are still astoundingly high.
Greece: Even Corruption Is In A Deep Recession
by Wolf Richter • • Comments Off on Greece: Even Corruption Is In A Deep Recession
Transparency International just published the results of its National Survey on Corruption in Greece, which tried to sort out the kind of bribery and petty corruption that households had to deal with in their daily lives. The results were sobering, as they tend to be with corruption surveys—but in an unexpected way: for those asking for bribes, an outright depression has commenced.
An IMF Absurdity
by Wolf Richter • • Comments Off on An IMF Absurdity
On April 20, finance chiefs and central bankers of the G-20 hold a shindig in Washington DC. At issue is money. Bailout money for the Eurozone. The IMF wants to dig deeper into its pocket, but the amounts are skyrocketing, and … “We certainly need more resources,” explained IMF Managing Director Christine Lagarde. Bankrupt countries try to bail out bankrupt countries. And taxpayers everywhere get to foot the bill.
A New Beginning in Japan: Glimmers of False Hope?
by Wolf Richter • • Comments Off on A New Beginning in Japan: Glimmers of False Hope?
April 1 marks a new beginning in Japan and coincides roughly with the arrival of cherry blossoms. The first ethereal pink was sighted last week in Kochi. Now blossoms have appeared in Tokyo. Full bloom is expected by Friday. Last year, after the horrific earthquake and tsunami that took over 18,000 lives, cherry-blossom events had been canceled. But this year, it’s different. And there is even an uptick in the numbers.
Bluebelly Mousse
by Wolf Richter • • Comments Off on Bluebelly Mousse
Japan, May 1996. The joys of eating cement us together, and the harmony between us emboldens me. We finish the fifth course, sautéed almond trout, and as I’m pouring the remainder of our bottle of wine, I broach the subject that has been on my mind for weeks and that I’ve broached in subtle ways before without getting a response. Now I want to violate yarikata. I want to communicate with her clearly and directly, with personal pronouns and all.