21 search results for "plethora"

Housing Hit the Wall of Wall Street in May

by Wolf Richter •  • Comments Off on Housing Hit the Wall of Wall Street in May

It always starts with a toxic mix: Home sales plunged and inventories jumped in May. The housing market is buckling under its own inflated weight.

Why My BS-O-Meter Redlined In The Minimum-Wage War

by Wolf Richter •  • Comments Off on Why My BS-O-Meter Redlined In The Minimum-Wage War

“There is never a good time to raise the minimum wage,” explained Joseph Sabia, an associate professor of economics at San Diego State University. The Capitol Hill briefing was co-sponsored by the Employment Policies Institute, which is tied to the fast-food industry.

David Stockman: “Money Printers And Wall Street Coddlers”

by Wolf Richter •  • Comments Off on David Stockman: “Money Printers And Wall Street Coddlers”

I’ve been a fan of David Stockman ever since he got in trouble for speaking the truth as Budget Director under President Reagan. But his new book, The Great Deformation: The Corruption of Capitalism in America—what an awesome romp through the economic, financial, and monetary shenanigans of our times!

Relying on Fake German Strength

by Wolf Richter •  • 6 Comments

While we’re sitting on the edge of our chairs, waiting breathlessly for the Greek election, or for Fate to swallow Greece and send financial Armageddon over the Eurozone, stock markets rallied. Not because of a sudden plethora of good economic news, but in anticipation of how central banks might react to the Greek vote—that’s how far this farce has come! As if sheer artificial liquidity could wash away the putrid odor of decomposing debt.

Havoc and Opportunity in Natural Gas

by Wolf Richter •  • Comments Off on Havoc and Opportunity in Natural Gas

The fourth warmest winter on record, which curtailed the use of natural gas for heating, coincided with record production of natural gas. Storage facilities, filled to record levels for this time of the year, may soon reach capacity, forcing the industry to flare excess gas. This, doom-and-gloom theorists go, will force the price of gas to zero in the US. The point of maximum pain. But there’s a monumental shift, and demand is spiking.