All

Dang, The Wine Bubble Implodes (It’s China’s Fault)

by Wolf Richter •  • Comments Off on Dang, The Wine Bubble Implodes (It’s China’s Fault)

Many in the industry believe that in China, 90% of the high-profile wines, like certain Bordeaux, are fake. Devastating thought if you keep wine in a refrigerated vault as an asset class. And prices have collapsed. But it’s not all doom and gloom, not with California wines.

Argentina Kowtows To “Paris Club” on Debt, Thinks It Won

by Bianca Fernet •  • Comments Off on Argentina Kowtows To “Paris Club” on Debt, Thinks It Won

Bond markets are abuzz about Argentina’s deal with the Paris Club of creditors on US$9.7 billion of arrears from the 2001 financial crisis. Economy minister Kicillof emerged, in his mind and that of many, victorious. Brilliant diplomatic showmanship.

QE, Bailouts, And Families Struggling to Buy Food

by Wolf Richter •  • Comments Off on QE, Bailouts, And Families Struggling to Buy Food

It was a very basic question: Have there been times when you did not have enough money to buy the food you or your family needed? In wealthy countries, the percentages should be small, and given all the money-printing, it should be zero, you’d think.

The Big Losers in the California Shale-Oil Fiasco

by Oilprice.com •  • Comments Off on The Big Losers in the California Shale-Oil Fiasco

Executive Report with ISA Intel: Slashing the smoke-and-mirrors hype of the Monterey shale by 96% socked not only oil companies but also the state of California that was dreaming of $24.6 billion a year in revenues and 2.8 million jobs, now dissipated into thin air.

Wreckonomics: Troika Accelerates Demolition of Spain’s Economy

by Don Quijones •  • Comments Off on Wreckonomics: Troika Accelerates Demolition of Spain’s Economy

The people must pay” if they want to maintain the current levels of public services, warned James Daniel, the man in charge of the IMF’s mission in Spain, who, as an employee of the IMF, pays no income taxes  to any country.

The Big Hoax Of The Wall Street Hype Machine

by Wolf Richter •  • Comments Off on The Big Hoax Of The Wall Street Hype Machine

How the most important “data” Wall Street hands out via its army of analysts to rationalize lofty stock valuations is consistently (chart!) the biggest hoax out there.

Here Comes QE In Financial Drag: Draghi’s New Monetization Ploy

by David Stockman •  • Comments Off on Here Comes QE In Financial Drag: Draghi’s New Monetization Ploy

The ECB launches QE in financial drag by purchasing the kind of “toxic-waste” that took down the US financial system; but it proclaims it’s not “monetizing” any stinking sovereign debt! What it’s really up to is snookering the German sound-money camp.

The Wrath of Abenomics: Sales Collapse, Inflation Soars

by Wolf Richter •  • Comments Off on The Wrath of Abenomics: Sales Collapse, Inflation Soars

Even the soothsayers and spin doctors expected a downdraft after Japan’s consumption tax was jacked up to 8% from 5%, effective April 1. But not this.

The Fracking Shakeout

by Oilprice.com •  • Comments Off on The Fracking Shakeout

By Nick Cunningham: The US shale oil and gas industry is in trouble. Drillers have to borrow more and more just to stay on the fracking treadmill, even as production and revenues disappoint. And some of them could be heading toward bankruptcy.

Why The Promise Of American LNG Exports Is Gassy Hype

by Wolf Richter •  • Comments Off on Why The Promise Of American LNG Exports Is Gassy Hype

This chart shows how the vision of US liquefied natural gas exports to free Europe from Russia’s clutches or make big bucks off energy-starved Japan is nothing but a juicy lure in the big money game.