by Wolf Richter • • Comments Off on Bank of Japandemonium Killed And “Sacrificed” The JGB Market
“The JGB market is dead,” announced with finality Tetsuya Miura, chief bond strategist at Mizuho Securities, one of Japan’s 23 primary dealers that have to bid on government securities. It had been “sacrificed” by the Bank of Japan, said another industry heavyweight.
by James Murray • • Comments Off on Human Inability To Grasp Very Large Numbers Abused By Politicians And The Fed
By James Murray:Crows are considered the most intelligent birds. They can count to three. Anything over three is “many” to a crow. Humans are basically the same way. At some point, numbers get so big that they just become “many.”
by Wolf Richter • • Comments Off on Money Manager Nightmare: “How Can I Explain To My Clients That We Had A Third Crash In 15 years?”
Sign of trouble: A wealth manager told me some of his elderly clients were now coming into his office, and they’d say, “My kids tell me that I can make 25% a year with stocks.” How much were they were willing to lose? “Nothing,” they’d say.
by Contributor • • Comments Off on Don’t-Fight-The-Fed Confidence Turns To Worry That Fed Might Take Us Over A Cliff
How can anyone look at this without concern? Many portfolio managers are riding the wave but are prepared to dump their investments at the first alarm – then, who is going to buy?
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.
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.
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.
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.
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.
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.
