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This Happened Twice Before, And Each Time Stocks Crashed

by Wolf Richter •  • Comments Off on This Happened Twice Before, And Each Time Stocks Crashed

In 2000 and 2007. The consequences were spectacular. Now, it happened a third time in fifteen years. And it’s forming an increasingly terrifying chart.

Argentina Fesses Up: Price of Milk Doesn’t Lie, But Politicians Do

by Contributor •  • Comments Off on Argentina Fesses Up: Price of Milk Doesn’t Lie, But Politicians Do

By Sam Pothecary, Argentina: It said the economy shrank for the first time since 2012. This is confusing to us who live here: Does that mean it had been growing for years of peso devaluations, soaring inflation, unemployment, strikes, rising poverty and crime?

Airbus CEO Calls For Currency War, Shoots Himself in Foot

by Wolf Richter •  • Comments Off on Airbus CEO Calls For Currency War, Shoots Himself in Foot

Boeing got more orders in the first quarter than archrival Airbus. So at the ILA Berlin Air Show, Airbus CEO Fabrice Brégier spoke up against this ridiculous injustice. True to his Frenchness, he exhorted the ECB to do what central banks are supposed to do.

Why Fast-Food Workers Are An Endangered Species

by James Murray •  • Comments Off on Why Fast-Food Workers Are An Endangered Species

By James Murray: 30 years ago, if you’d told me I’d go to a fast-food joint, order on a tablet, and eat a machine-made burger, I would have said, “No way.” And today?

BlackRock: Russian Bond Market “Freezing Up”

by Wolf Richter •  • Comments Off on BlackRock: Russian Bond Market “Freezing Up”

“People thought sanctions were about visas for oligarchs wanting to visit Disneyland. But they are much more important.”

The Hazardous Hunt For Carry – Why The EM Rebound Isn’t Real

by David Stockman •  • Comments Off on The Hazardous Hunt For Carry – Why The EM Rebound Isn’t Real

The monetary plumbers keep banging money market rates to zero, thereby ignoring what the money market rate really is in a financialized, debt-ridden system: the price of hot money, the single most important price in all of capitalism.