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Outcry as Canada Considers Nuclear Waste Facility on US Border

by Oilprice.com •  • Comments Off on Outcry as Canada Considers Nuclear Waste Facility on US Border

By Charles Kennedy, OilPrice.com: Canadian plans for a large nuclear-waste facility on the Canadian side of Lake Huron, directly opposite the thumb of the State of Michigan, are triggering a cross-border public outcry and a looming diplomatic backlash.

NSA Spying Crushes US Tech Companies in Emerging Markets (“An Industry Phenomenon,” Says Cisco’s Chambers)

by Wolf Richter •  • Comments Off on NSA Spying Crushes US Tech Companies in Emerging Markets (“An Industry Phenomenon,” Says Cisco’s Chambers)

Cisco CEO John Chambers had a euphemism for it during the earnings call: “challenging political dynamics” in China, without ever naming the NSA. Then there was India and others, including Russia where Snowden is holed up, and where sales outright collapsed.

EU Citizenship Goes On Sale, Price War Breaks Out

by Wolf Richter •  • Comments Off on EU Citizenship Goes On Sale, Price War Breaks Out

The huddled masses yearning to breathe free in the EU drown by the boatload in the Mediterranean. They languish in detention centers in Greece and elsewhere. They’re maligned, hounded, sometimes killed. But it’s getting cheaper and easier for the rich.

Does QE Boost Employment? (Somebody Should Send This To Yellen)

by Contributor •  • Comments Off on Does QE Boost Employment? (Somebody Should Send This To Yellen)

By Lee Adler, The Wall Street Examiner: Overlaying raw employment data from the Bureau of Labor Statistics with the Fed’s balance sheet offers surprising insights. Brief must-see video with excellent chart and explanation. Somebody should send it to Yellen.

“Confessions” Of A Master Of Revolving Door Between Wall Street And The Fed

by Wolf Richter •  • Comments Off on “Confessions” Of A Master Of Revolving Door Between Wall Street And The Fed

We’ve known it all along, but now a former Fed insider confirmed it. QE, despite the Fed’s relentless efforts “to spin it as a tool for helping Main Street,” was “the greatest backdoor Wall Street bailout of all time.” But it’s complicated. He’s a revolving-door Wall-Street banker.

The Day The Bubble Became Official, And Everyone Was Happy

by Wolf Richter •  • Comments Off on The Day The Bubble Became Official, And Everyone Was Happy

A new era has dawned: there is now a consensus that this is a stock market bubble. We’re back where we were during the last bubble, or the one before it. How do I know it’s not just some intrepid souls on the bleeding edge who are claiming this, but a consensus?

German Industry Dreads Getting Slammed By The Costs Of Green Energy

by Oilprice.com •  • Comments Off on German Industry Dreads Getting Slammed By The Costs Of Green Energy

By Scott Belinksi, Oilprice.com: In Germany, where renewable energy has been aggressively pushed, companies may soon lose an exemption from expensive renewable energy surcharges. Business leaders worry this will “destroy Germany’s industrial core.”

Coming Soon: Corporate Tools To Hollow Out National Sovereignty

by Wolf Richter •  • Comments Off on Coming Soon: Corporate Tools To Hollow Out National Sovereignty

Now “trade agreements” are negotiated behind sealed doors, without public oversight, beyond the reach of Congress. The text of the Trans-Pacific Partnership is secret, but some sections were leaked. It deals with trade only on the margins. Corporate interests dominate. It mocks democracy, establishes kangaroo courts, and taxpayers are on the hook.

Watching The Fed Marinate In Its Own Artfully Concocted Pickle

by Wolf Richter •  • Comments Off on Watching The Fed Marinate In Its Own Artfully Concocted Pickle

After five years of QE, and $3 trillion in new money floating around, we now have asset bubbles everywhere. Risk is no longer priced into anything. In fact, it has disappeared as a factor. And the Fed is publicly fretting about it.

Spain, No Country For Young Men

by Don Quijones •  • Comments Off on Spain, No Country For Young Men

By Don Quijones: Despite a miraculous economic “recovery,” EU-wide youth unemployment hit 24%. New records were set in Spain (56.5%), Greece (57.3%), Italy (40%), and France (26%). The warnings from history are clear: governments that allow youth unemployment to escalate, do so at their own peril.