Rideshare Companies Uber, Lyft, and Sidecar Are Not What You Think They Are, and I’ll Tell You Why

by Contributor • Jul 12, 2014 • 11 Comments

So let’s get one thing straight. Uber is not an exciting entrepreneurial endeavor. Quite the opposite. It’s backed by three of the largest corporations in the world, all merged together to again outspend the underdog and disrupt the middle class.

Gallup Slams Lid On Hopes For US Economy

by Wolf Richter • Jul 11, 2014 • 6 Comments

Consumers are “straining against rising prices on daily essentials” and are cutting back on things they want to buy.

Foreign Buyers Splurge On US Homes, Drive Up Prices

by Wolf Richter • Jul 11, 2014 • 3 Comments

Buyers from China are the most prolific, spending 72% more than a year ago! On expensive homes. They benefit from the devaluation of the dollar – according to the NAR – and are desperate to get their money out of China.

Why Are TBTF Banks So Happy With The EU Banking Union?

by Don Quijones • Jul 10, 2014 • 2 Comments

According to the official story, the people of Europe will benefit enormously from the banking union; it imposes greater control and tighter regulation of the banks and saves taxpayers from having to bail them out. Or so it would seem.

Mortgage Bankers: ‘Unsustainable Housing Bubble Is Inflating’

by Wolf Richter • Jul 10, 2014 • 1 Comment

FICO: “That doesn’t feel like a healthy, sustainable growth situation.” Lenders fret “about the risk in mortgages” as consumers return to “reckless borrowing.”

IPO Hype-Miracle Gets Crushed by Reality

by Wolf Richter • Jul 9, 2014 • Comments Off on IPO Hype-Miracle Gets Crushed by Reality

The wealth transfer machine: Wall Street hype meets “retail funk”

Senior Bankers Warn: ‘It’s Crazy, It’s a Boom, It’s a Gold Rush’

by Wolf Richter • Jul 9, 2014 • 4 Comments

Senior bankers are “privately warning” that the record bank lending binge “should not be seen as evidence of an economic recovery.” Instead, they’re fretting about the greatest credit bubble in history.

Gotham City Takes Down Spanish Joker

by Don Quijones • Jul 8, 2014 • Comments Off on Gotham City Takes Down Spanish Joker

Gowex was one of the most recommended stocks in Spain, including among the biggest banks. But under attack by a short-seller, it jumped from denial to confession and collapse in five short days, exposing just how well Spain’s regulators function.

This Chart Truly Depicts What’s Wrong With the ‘Recovery’ in America

by Wolf Richter • Jul 8, 2014 • 7 Comments

Many Americans spend every dime they make, and usually way beyond what they make. It’s not because they have confidence in the economy. They don’t! The gap in consumer confidence between these folks and those with higher incomes is at an all-time record!

A Dark Alliance: European Union Joins Forces With Wall Street

by Don Quijones • Jul 7, 2014 • 1 Comment

Negotiations behind closed doors are under way to water down all forms of financial regulation on both sides of the Atlantic via the Transatlantic Trade and Investment Treaty. Leading the charge: not the US government, but an unholy alliance between the European Commission, Wall Street, and the City of London.

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