by Wolf Richter • • Comments Off on No Crisis? France’s Private Sector In Deeper Trouble Than In 2009
His US visit might give the French President the boost he sorely needs at home, because at home, things are getting mired down. The economy shriveled or had no growth in five of the last eight quarters. The dominant government sector is well, but businesses are failing in record numbers.
by Wolf Richter • • Comments Off on California MUST Have Magnificent, Endless Bubbles in Housing, Stocks, And IPOs – Or Go Broke Again
My beloved state of California, whose $2 trillion economy is the eight largest in the world ahead of Italy and Russia, has a new problem: it’s awash in cash. It’s projecting multi-billion dollar surpluses for years to come. The feeding frenzy in Sacramento is a sight to behold.
by Wolf Richter • • Comments Off on IPO Highflyer Hits Sidewalk After Smart Money Bails Out
The IPO scene is sizzling: 25 pre-IPO startups, dogged by puny revenues and hefty losses, have “valuations” from $1 billion to $10 billion. But post-IPO debacles, even in the immensely hyped Cloud and Big Data sector, are already hitting the sidewalk.
by Wolf Richter • • Comments Off on Why My BS-O-Meter Redlined In The Minimum-Wage War
“There is never a good time to raise the minimum wage,” explained Joseph Sabia, an associate professor of economics at San Diego State University. The Capitol Hill briefing was co-sponsored by the Employment Policies Institute, which is tied to the fast-food industry.
by Wolf Richter • • Comments Off on Stinking Corporate Revenues, Desperately Doctored Earnings-Per-Share
Last quarter was tough on large US corporations – those in the S&P 500 index. Unperturbed, the index soared all year. But its 343 companies that have reported so far have exposed the ugly underbelly of the worldwide economy: revenue “growth.”
by Oilprice.com • • Comments Off on A Month of Panic in Iraq (Where It’s STILL All About Oil)
Despite the continued influx of investment in Iraq, the situation is untenable and each month moves closer to an all-out civil war. First, we’ll give you the security run-down, then we’ll get into the oil.
by Wolf Richter • • Comments Off on I’ve Hammered On Japan’s Fiscal Nightmare, Abenomics, TEPCO, And Debacles… But There’s More To Japan
Dear Readers, friends, traders, gladiators, hard-working guys dreaming of retirement…. My personal relationship with Japan goes back to 1996, so here’s something different, something that isn’t cynical and harsh and dark, but appreciative and I hope enjoyable.
by Wolf Richter • • Comments Off on German High Court Blows Up Euro, Says ‘Oh Wait,’ Abdicates
The ECB’s money-printing and bond-buying promise, lovingly dubbed Outright Monetary Transactions, became the bailing wire and duct tape that has kept the Eurozone together to this day. Turns out, it’s illegal under the EU treaties and unconstitutional in Germany.
by Don Quijones • • Comments Off on Argentina’s Tempestuous Tango At The Edge Of The Abyss
For a while it seemed the government’s unique mathematics had miraculously enabled Argentina to overcome insurmountable economic challenges. Now reality caught up with it.
by Oilprice.com • • Comments Off on Epic Droughts: Fracking, Water Supply In Mexican Standoff
Fracking poses a growing risk to water supplies. Groundwater contamination has been making headlines, but in parched states like Texas and California, fracking’s massive consumption of water threatens fracking itself.
