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Nobel Peace Prize, Asylum for Snowden: Germans Turn Up Heat

by Wolf Richter •  • Comments Off on Nobel Peace Prize, Asylum for Snowden: Germans Turn Up Heat

While the US government wants to get its hands on NSA whistleblower Edward Snowden and crucify him properly, the German government remains red-faced and tangled up in its own underwear. Yet among Germans, and their politicians, support for him is surging.

The Global Corporatocracy is Almost Fully Operational

by Don Quijones •  • Comments Off on The Global Corporatocracy is Almost Fully Operational

By Don Quijones: 58% of the world’s biggest 150 economic entities aren’t countries but corporations. Royal Dutch Shell’s revenues exceed the GDPs of 171 countries, making it the 26th largest economic entity in the world. And the balance of power is shifting rapidly.

Dancing Chickens And The Fed

by Wolf Richter •  • Comments Off on Dancing Chickens And The Fed

Some time ago, I listened to the host of a radio show tell the story about the dancing chickens – and the Fed. It wasn’t, intuitively, an obvious combo. But he nailed it, now that the 100th anniversary of the Fed’s creation is approaching.

Japanese Banks Work with the Yakuza

by Wolf Richter •  • Comments Off on Japanese Banks Work with the Yakuza

As the scandal is spreading, Japan’s Financial Services Agency, which has been sleeping peacefully through this for years, will suddenly probe Japan’s megabanks, Mizuho, Mitsubishi UFJ, and Sumitomo Mitsui.

Japan’s Most Hated Outfit, TEPCO, Reports Fat Profit (From Taxpayer Bailout Money)

by Wolf Richter •  • Comments Off on Japan’s Most Hated Outfit, TEPCO, Reports Fat Profit (From Taxpayer Bailout Money)

TEPCO, the bailed-out owner of the Fukushima nuclear plant, famous for its lackadaisical handling of the fiasco and its parsimonious delivery of information, reported earnings today. It was a doozie! And a glimpse into what’s in store for Japanese taxpayers.

NSA’s “MUSCULAR” Secretly Breaks Into The Cloud Of US Tech Companies, Siphons Off Data, Fouls Up Revenues Overseas

by Wolf Richter •  • Comments Off on NSA’s “MUSCULAR” Secretly Breaks Into The Cloud Of US Tech Companies, Siphons Off Data, Fouls Up Revenues Overseas

The seamless, borderless surveillance society has a new dimension: MUSCULAR. Under it, the NSA and British GCHQ secretly break into the “clouds” of US companies to syphon off user data on a large scale. Illegal in the US. But the cloud is a worldwide phenomenon.

Politicians Are All Jabbering About Creating Jobs (Doing What?)

by James Murray •  • Comments Off on Politicians Are All Jabbering About Creating Jobs (Doing What?)

By James Murray: Computer power has reached the point where almost anything can be automated, and computer pricing has reached the point where it is profitable to do so. The world is undergoing a mega shift, and governments have no clue how to handle the problem.

OMG, Those “Who Truly Rule The World”

by Wolf Richter •  • Comments Off on OMG, Those “Who Truly Rule The World”

Most powerful person in the world? Putin! Sez Forbes. At least, it wasn’t Merkel, who has been throwing her weight around when she found out that her Handy had been bugged by the NSA, just like our cellphones. We have to take it; she gets to make a big stink and gripe to Obama on the (bugged) phone.

The Smart Money Denies They’re The Smart Money As They Franticly Sell Their Crown Jewels Before The Bubble Blows Up

by Wolf Richter •  • Comments Off on The Smart Money Denies They’re The Smart Money As They Franticly Sell Their Crown Jewels Before The Bubble Blows Up

“It’s a great time to sell,” mused a pension fund investment officer. And Blackstone Group, the world’s largest private equity firm, is doing exactly that, feverishly, relentlessly, hand over fist, at peak valuations, cashing out. What does that mean for the rest of us?