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Canary In A Handbag: Why Coach Hit The Skids

by David Stockman •  • Comments Off on Canary In A Handbag: Why Coach Hit The Skids

Coach just had an earnings fiasco. Sales plunged 21%. Prospects are worse for the period ahead. Store closings are coming. That’s the payoff for playing the destructive game of the Wall Street casino.

Last Time Corporate America Did This, The Stock Market Crashed

by Wolf Richter •  • Comments Off on Last Time Corporate America Did This, The Stock Market Crashed

So what happens when these huge and reckless buyers with their nearly endless resources start cutting back after a phenomenal peak? Well, we know what happened in 2008.

In Search Of Russia’s Lost Fracking Boom

by Oilprice.com •  • Comments Off on In Search Of Russia’s Lost Fracking Boom

Gazprom’s mega-deal with China sent shockwaves around the world. But Gazprom might not be able to honor the deal if shale reserves are not tapped soon. And that might not happen because capitalism à la russe is a harsh mistress.

It’s Official: Despite Media Hype, Eurozone STILL in Recession

by Wolf Richter •  • Comments Off on It’s Official: Despite Media Hype, Eurozone STILL in Recession

Politicians and Eurocrats have already taken credit for the recovery, and a whirlwind of backslapping has ensued – prematurely, it turns out.

Housing Hit the Wall of Wall Street in May

by Wolf Richter •  • Comments Off on Housing Hit the Wall of Wall Street in May

It always starts with a toxic mix: Home sales plunged and inventories jumped in May. The housing market is buckling under its own inflated weight.

This Debt Is Explosive, And it Sits on the Shelf Everywhere, Waiting to go off

by Wolf Richter •  • Comments Off on This Debt Is Explosive, And it Sits on the Shelf Everywhere, Waiting to go off

I was interviewed by Jorge Nascimento Rodrigues for “Janela na web” (a Portuguese site) and the printed edition of Expresso. After what I said, he might never interview me again :-]

What Iraq’s Disintegration Means for Oil Markets

by Oilprice.com •  • Comments Off on What Iraq’s Disintegration Means for Oil Markets

Executive Report, ISA Intel: OPEC’s 2nd largest producer has the 5th largest reserves in the world and is one of the last places with enormous amounts of underexplored low-cost oil.

Sex, Drugs and Dodgy Accounting: Spain’s New Growth Strategy

by Don Quijones •  • Comments Off on Sex, Drugs and Dodgy Accounting: Spain’s New Growth Strategy

When it comes to creative accounting, few can hold a candle to Spain’s finance minister Cristobal Montoro, who unveiled his latest scheme to “grow” the economy: adding prostitution and illegal drugs to GDP to solve a host of urgent problems.