by Wolf Richter • • Comments Off on Real Economy Bites Housing Bubble 2
When the home-sales curve kinked south last fall, soothsayers had some handy reasons. And it would be temporary. Month after month, they came up with new reasons. Now they’ve used up all the good ones, but sales are still tanking.
by Oilprice.com • • Comments Off on The Questionable Staying Power Of The US Fracking Boom
US oil production surged 64% since 2008, natural gas production 42% since 2005 – driven by the shale revolution. BP and Exxon saw the US as energy self-sufficient in 20 years. But three major red flags should curb this unfettered enthusiasm.
by Wolf Richter • • Comments Off on Dang, The Wine Bubble Implodes (It’s China’s Fault)
Many in the industry believe that in China, 90% of the high-profile wines, like certain Bordeaux, are fake. Devastating thought if you keep wine in a refrigerated vault as an asset class. And prices have collapsed. But it’s not all doom and gloom, not with California wines.
by Bianca Fernet • • Comments Off on Argentina Kowtows To “Paris Club” on Debt, Thinks It Won
Bond markets are abuzz about Argentina’s deal with the Paris Club of creditors on US$9.7 billion of arrears from the 2001 financial crisis. Economy minister Kicillof emerged, in his mind and that of many, victorious. Brilliant diplomatic showmanship.
by Wolf Richter • • Comments Off on QE, Bailouts, And Families Struggling to Buy Food
It was a very basic question: Have there been times when you did not have enough money to buy the food you or your family needed? In wealthy countries, the percentages should be small, and given all the money-printing, it should be zero, you’d think.
by Oilprice.com • • Comments Off on The Big Losers in the California Shale-Oil Fiasco
Executive Report with ISA Intel: Slashing the smoke-and-mirrors hype of the Monterey shale by 96% socked not only oil companies but also the state of California that was dreaming of $24.6 billion a year in revenues and 2.8 million jobs, now dissipated into thin air.
by Don Quijones • • Comments Off on Wreckonomics: Troika Accelerates Demolition of Spain’s Economy
The people must pay” if they want to maintain the current levels of public services, warned James Daniel, the man in charge of the IMF’s mission in Spain, who, as an employee of the IMF, pays no income taxes to any country.
by Wolf Richter • • Comments Off on The Big Hoax Of The Wall Street Hype Machine
How the most important “data” Wall Street hands out via its army of analysts to rationalize lofty stock valuations is consistently (chart!) the biggest hoax out there.
by David Stockman • • Comments Off on Here Comes QE In Financial Drag: Draghi’s New Monetization Ploy
The ECB launches QE in financial drag by purchasing the kind of “toxic-waste” that took down the US financial system; but it proclaims it’s not “monetizing” any stinking sovereign debt! What it’s really up to is snookering the German sound-money camp.
