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Biggest Credit Bubble in History Runs Out Of Time

by Wolf Richter •  • Comments Off on Biggest Credit Bubble in History Runs Out Of Time

Yield investors, driven to insanity by the Fed’s interest-rate repression, hold their noses and close their eyes to scrape up even the crappiest paper just to get a little extra yield. “On the way in, there’s insatiable demand.” Alas, “it’s going to be a disaster on the way out.”

Doctor’s Perspective: Perils and Pitfalls of Corporatized Medicine

by Contributor •  • Comments Off on Doctor’s Perspective: Perils and Pitfalls of Corporatized Medicine

“Professional bullying from administrators to run both a pill mill and a needle jockey business was tremendous. I resisted the entire time. But god, it wore me out.”

Richest 200 Moguls Made $13.9 Billion Today

by Wolf Richter •  • Comments Off on Richest 200 Moguls Made $13.9 Billion Today

Bernanke doesn’t regret any of the Fed’s actions, he said, except not explaining them to the people. They “really don’t understand why we did what we did,” he said. But there are a few people who do understand.

The Very Brief Phenomenon Of The Gold Standard

by Contributor •  • Comments Off on The Very Brief Phenomenon Of The Gold Standard

By Dr. Bryan Taylor: Europe was on a bimetallic standard, not a Gold Standard, from the Middle Ages until World War I. Gold triumphed in the 19th century because bimetallism had failed. This should have been taken as a sign that the gold standard too would inevitably fail.

America And Oil: This Chart Shows Why OPEC’s Knees Are Trembling

by Wolf Richter •  • Comments Off on America And Oil: This Chart Shows Why OPEC’s Knees Are Trembling

What would have been a demented propagandist’s flight of fancy a decade ago has become reality: For the first time in history, the US imports more oil from our dear and reliable neighbor Canada than from OPEC. With major consequences.

Exodus of Japan Inc. Slams China

by Wolf Richter •  • Comments Off on Exodus of Japan Inc. Slams China

China’s moves “discourage” Japanese corporations from doing business there, said the Japanese government on Monday. That’s exactly what has been happening for months. In a most dramatic way, and where it hurts China the most.

Draghi’s Bold Push For Creeping Defaults And Real Wage Cuts

by Wolf Richter •  • Comments Off on Draghi’s Bold Push For Creeping Defaults And Real Wage Cuts

There is nothing like a wealthy central bank chief admitting that he wants to, one, help governments default gradually on their debts; and two, cut the real wages of workers. An honesty the Fed never dared to exhibit when it inflicted waves of QE on American workers.

Seed Wars: Latin America Strikes Back Against Monsanto

by Don Quijones •  • Comments Off on Seed Wars: Latin America Strikes Back Against Monsanto

By Don Quijones: With more back channels and revolving doors to governments around the world, Monsanto is used to getting its way. But now it faces an outright rebellion.

‘People Don’t Grasp Yet What European Unification Will Cost Them’

by Contributor •  • Comments Off on ‘People Don’t Grasp Yet What European Unification Will Cost Them’

By Cassandra: In the South of the Eurozone, people feel crushed, their future sacrificed on the altar of the Holy Euro. I’m in the Netherlands, so north of the Great Divide. We’re not suffering as much as the people in Greece, Spain, and Portugal. Not yet.