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Shell Oil: US Fracking “Revolution” A Money Loser

by Oilprice.com •  • Comments Off on Shell Oil: US Fracking “Revolution” A Money Loser

Shell is already steeped in its Alaska offshore debacle. Now its new boss admitted that fracking in the US, after a huge investment, is a money-losing business.

Obama’s Fantasy: Using US Energy ‘Boom’ Against Russia

by Oilprice.com •  • Comments Off on Obama’s Fantasy: Using US Energy ‘Boom’ Against Russia

The release from the Strategic Petroleum Reserve took down the price of oil in the US, but not in the rest of the world, and didn’t impact Russia. New measures are bandied about – ludicrous attempts by the government to flex some muscle.

Kremlin: If The US Tries To Hurt Russia’s Economy, Russia Will Target The Dollar

by Wolf Richter •  • Comments Off on Kremlin: If The US Tries To Hurt Russia’s Economy, Russia Will Target The Dollar

The first official warning shot was fired before an all-out assault on the dollar system begins. Not by a Putin advisor that can be brushed off, but by Alexey Ulyukaev, Russia’s Minister of Economy and former Deputy Chairman of the Central Bank. A major escalation.

Russia Blocks Access to Major Independent News Sites And Blogs

by Electronic Frontier Foundation •  • Comments Off on Russia Blocks Access to Major Independent News Sites And Blogs

Russia has escalated its use of its Internet censorship law to target news sites, bloggers, and politicians under the slimmest excuse of preventing unauthorized protests and enforcing house arrest regulations.

Bay Area Home Sales Plunge To 2008 Levels, Prices Soar

by Wolf Richter •  • Comments Off on Bay Area Home Sales Plunge To 2008 Levels, Prices Soar

It starts here: evictions in San Francisco hit the highest level since 2001, when the dotcom bubble was disintegrating. Everything these days gets benchmarked against the last bubbles: the dotcom bubble that blew up in 2000, the housing bubble that blew up in 2007.

German Exporters Fire Warning Shot About Russia “Sanction-Spiral,” Banks At Risk

by Wolf Richter •  • Comments Off on German Exporters Fire Warning Shot About Russia “Sanction-Spiral,” Banks At Risk

It took a while. But it had to come, the public warning shot – after some ferocious lobbying behind closed doors. No one in Germany is allowed to get in the way of the sacrosanct exporters. The German economy, to the chagrin of neighboring countries, is based on them.

Coffee – The Craziest Chart Of The Year Already

by Wolf Richter •  • Comments Off on Coffee – The Craziest Chart Of The Year Already

I’m a coffee lover, and this is getting personal: our latte, espresso, or just plain good coffee is going to bite fiercely into our already mauled pocket book. In one crazy chart.

Round Two of the Global Financial Sector’s Takeover of Spain

by Don Quijones •  • Comments Off on Round Two of the Global Financial Sector’s Takeover of Spain

By Don Quijones: When it comes to dodgy landlords, few have it quite as bad as the tenants of a number of housing projects in Spain who were notified that the government had sold their units to an innocent-sounding investment fund called Cibeles.

What Caused The Glorious Jump In Household Wealth (In One Insanely Good Chart) And Who Will Blow It Up Again?

by Wolf Richter •  • Comments Off on What Caused The Glorious Jump In Household Wealth (In One Insanely Good Chart) And Who Will Blow It Up Again?

The stock market has soared for five years, risks have ballooned, home prices have jumped. Gains built on the quicksand of endless liquidity and a lackluster economy. “Irrational exuberance” is back in the Fed’s vocabulary. As the Fed’s Fisher said, it may end “in tears.”