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German Economy Wobbles Between Shrinkage And Stagnation, Stocks Soar

by Wolf Richter •  • Comments Off on German Economy Wobbles Between Shrinkage And Stagnation, Stocks Soar

Since 2012, German economic growth has been back where it was when Germany was called the “Sick Man of Europe.” Only this time, Germany has been anointed the model economy for others to follow and admire.

Iran, Russia Ruffle US Feathers With Oil Swap Deal

by Oilprice.com •  • Comments Off on Iran, Russia Ruffle US Feathers With Oil Swap Deal

Iran and Russia are in talks about a potential $1.5 billion oil-for-goods swap that could boost Iranian oil exports by 50%, which didn’t go over very well in Washington.

Hang On Tight: ‘Merger Monday,’ Which Died in 2008, Is Back

by Wolf Richter •  • Comments Off on Hang On Tight: ‘Merger Monday,’ Which Died in 2008, Is Back

I thought we’d never see “Merger Monday” again, the concept. But now, the unthinkable happened, the zombie phrase has walked back into the scene. Like in the bubble days of 2007: the big numbers were there, the deal exuberance, the craziness, the hoopla.

The Magic for Our Hapless Renters

by Wolf Richter •  • Comments Off on The Magic for Our Hapless Renters

Prices for housing have jumped and rents have jumped too, yet the 38.7 million renters, 34% of all households, watched with dismay as their real wages declined.

Offshore Fracking (And Dumping Chemicals Into Coastal Waters) Beyond The Public Eye

by Oilprice.com •  • Comments Off on Offshore Fracking (And Dumping Chemicals Into Coastal Waters) Beyond The Public Eye

Oil companies have been fracking offshore California and dumping chemicals into coastal waters for as long as two decades. It wasn’t until recently that FOIA requests brought it to light. Now the EPA is feebly trying to step in.

Lies, Damned Lies, and Banks: Deutsche Bank’s Whitewash Of “Senior Management”

by Wolf Richter •  • Comments Off on Lies, Damned Lies, and Banks: Deutsche Bank’s Whitewash Of “Senior Management”

Germany has its own JP Morgan, mired in a swamp of sordid scandals, investigations, lawsuits, and fines. Now a letter by the banking regulator was leaked that blasts Deutsche Bank’s internal investigation of the rate rigging scandal as a senior management whitewash.

Financial Tiki-Taka: Ugly Side of the ‘Beautiful Game’ in Spain

by Don Quijones •  • Comments Off on Financial Tiki-Taka: Ugly Side of the ‘Beautiful Game’ in Spain

By Don Quijones: On the surface and on the pitch, Spanish football has never been better. The national team of once-perpetual underachievers has won two European Championships and one World Cup in the last six years, a feat unmatched by any other European nation.

But Wait … The PC Industry Hopes That It Hasn’t Lost Hope Yet

by Wolf Richter •  • Comments Off on But Wait … The PC Industry Hopes That It Hasn’t Lost Hope Yet

Signs of the entire industry in a heap of trouble are everywhere. Rumors just bubbled up that Dell would axe 25% of its global sales staff – over 9,000 souls. HP is sacking 34,000. PC shipments, including laptops, have been awful for three years in a row.

Lousy Jobs Data: Five Years Of QE Fail, Yet Fig Leaf For Taper

by Wolf Richter •  • Comments Off on Lousy Jobs Data: Five Years Of QE Fail, Yet Fig Leaf For Taper

Today’s employment report is special. Exactly five years ago, the Fed kicked off its zero interest rate policy and QE to create the “wealth effect”: the elite would borrow for free and buy assets to drive up asset prices and make those people immensely rich; in return, they’d spend some crumbs of this new wealth, which would create jobs, say, at luxury retailers.

China CLOBBERS The US In Auto Sales, Becomes GM’s Nirvana (Unless You Have To Breathe)

by Wolf Richter •  • Comments Off on China CLOBBERS The US In Auto Sales, Becomes GM’s Nirvana (Unless You Have To Breathe)

The air in China can get so bad that the whole world talks about it. Though the government is taking the issue seriously and is doing a million things to get the fiasco under control, it remains unclear what exactly people will breathe ten years from now.