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Another Day, Another Political Scandal In Spain’s ‘Mafia State’

by Don Quijones •  • Comments Off on Another Day, Another Political Scandal In Spain’s ‘Mafia State’

By Don Quijones: Political corruption has already become synonymous with political leadership in Spain. But now there’s a spectacle of political hubris and impunity so farcical and obscene that it leaves no doubt in one’s mind: Spain is run by a mafia state!

“Champion in value destruction”: Russian Businesses Suffocating Under Putin’s Political Agendas

by Wolf Richter •  • Comments Off on “Champion in value destruction”: Russian Businesses Suffocating Under Putin’s Political Agendas

Russia doesn’t need sanctions for its economy to slither into trouble. Last year, growth slowed to 1.3%, worst in four years. This year started out even shakier. The current entanglements are knocking the economy into outright recession, and fast.

Turns Out, Even The Price of Beer Is Rigged

by Wolf Richter •  • Comments Off on Turns Out, Even The Price of Beer Is Rigged

Everything is rigged. Stock markets, forex, interest rates, gold, silver, oil…. After battling that rigged world all day, you finally get to take that first big gulp of beer to heal the wounds, knowing that it’s the one thing that hasn’t been rigged against you. Or so you’d think.

‘Hope-for-Growth Momentum Investing’

by Wolf Richter •  • Comments Off on ‘Hope-for-Growth Momentum Investing’

“Why worry if the price can only go up” – Societe Generale’s Head of Quantitative Equity Research. Now even after companies cut earnings-per-share estimates, their stocks go up. Because everyone believes that everyone believes that….

Tesla’s Sales Stall, Don’t Even Amount To A Rounding Error

by Wolf Richter •  • Comments Off on Tesla’s Sales Stall, Don’t Even Amount To A Rounding Error

March auto sales trickled out today. Beneath the wondrous hype about how they’d finally exceeded expectations, after they’d been perfectly awful for five of the prior six months, was a doozie. And the media, which normally fawns all over Tesla, covered it with a blackout.

I Just Got PayPal’s New Absolutely-No-Privacy-Ever Policy

by Wolf Richter •  • Comments Off on I Just Got PayPal’s New Absolutely-No-Privacy-Ever Policy

Sunday, when no one was supposed to pay attention, PayPal sent its account holders an innocuous-sounding email with the artfully bland title, “Notice of Policy Updates.” PayPal didn’t want people to read it – lest they think the NSA is by comparison a group of choirboys.

Broke Argentina Socks It To Warrant Holders, Saves $3 Billion

by Bianca Fernet •  • Comments Off on Broke Argentina Socks It To Warrant Holders, Saves $3 Billion

By Bianca Fernet: “Head in hands” photos or “plunging value” graphs that are traditionally displayed when markets fall were selected to accompany news that Argentine warrants tied to GDP crashed when the government revised 2013 GDP growth down to 3%.

Stocks on Speed: Leverage Spikes, As Does Risk Of Crash (Look at that Insane Chart!)

by Wolf Richter •  • Comments Off on Stocks on Speed: Leverage Spikes, As Does Risk Of Crash (Look at that Insane Chart!)

Margin debt is a crummy predictor of a crash. But it has a bone-chilling habit of peaking right around the time stocks do crash. In the last fifteen years, it spiked three times: during the final throes of the bubbles that imploded in 2000 and 2007; and now.

Peaceful Indignation Turns to Violent Rage in Rajoy’s Spain

by Don Quijones •  • Comments Off on Peaceful Indignation Turns to Violent Rage in Rajoy’s Spain

By Don Quijones: It was the first nationally coordinated grassroots response to repressive social and economic policies and widespread corruption of Spain’s ruling political caste. But it descended into violence – as the government is playing a dangerous game.