DEBTOR NATION

VIDEOS

Wolf Richter On The Keiser Report
"Debtonomics and the NSA"

Wolf Richter on the Keiser Report
"Where Is The Fear"

Wolf Richter on Max Keiser's "On The Edge" 
"The Pauperization of America"

Wolf Richter on the Keiser Report
"Where the Money Goes to Die"

Clarke and Dawe: European Debt Crisis
Two favorite Australian Comedians

Clarke and Dawe: Quantitative Easing
Big industrial-strength printers, all facing the window

The Fastest Drive Ever Through San Francisco
Don't try to do this yourself
 

humanERROR - by "Frying Dutchman"
Powerful, lyrical appeal to the Japanese. Slams nuke industry, MSM, bureaucrats, and politicians.

Thursday
Oct172013

NSA Revelations Kill IBM Hardware Sales in China

The first shot was fired on Monday. Teradata, which sells analytics tools for Big Data, warned that revenues plunged 21% in Asia. Wednesday, it was IBM’s turn to confess: hardware sales in China had collapsed. Every word was colored by Snowden’s revelations about NSA’s collaboration with American tech companies, from startups to mastodons like IBM.

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Wednesday
Oct162013

Hype Collapses: Alcatel-Lucent “Could disappear,” Says CEO

“The company could disappear,” said Alcatel-Lucent CEO Michel Combes, not exactly the kind of wondrous hype CEOs normally sputter to bamboozle people into plowing their money into the company’s stock. The end, after two decades of ingenious Wall-Street engineering, fee extraction, fanciful accounting, executive wisdom, and brilliant strategic thinking.

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Wednesday
Oct162013

“Double Irish With A Dutch Sandwich” Tax Loopholes About To Close

By Tim Parker, Benzinga Staff Writer: There’s bad news coming out of Ireland, but you’re not likely to feel too sorry for the victims. Ireland's Finance Minister Michael Noonan announced that he’d take steps to plug a loophole that lets multinational corporations have a presence in the country but not pay the 12.5% tax on money crossing its borders.

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Tuesday
Oct152013

Corporate Disease: Workers Are A Cost Not A Productive Resource

The amount in Federal assistance received by families of workers in the fast-food industry, who’re dogged by low wages, part-time work, and scarce employer-provided health benefits, amounted to $7 billion per year. A way for the $200 billion industry to shuffle off part of the costs of doing business to the hapless taxpayer.

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Tuesday
Oct152013

Buyer Beware: Many US Homes are Sold without Mineral Rights to the Land

By Joao Peixe of Oilprice.com: Property developers in the US, aware that land value jumps as soon as mineral deposits are found in the area, have begun to retain oil and natural gas extraction rights beneath the houses they sell – to sell those rights to oil and gas companies in the future. In many cases they don’t even advise property buyers.

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Monday
Oct142013

ECB’s Draghi: Knowing Too Much About Our Big Banks Could Set Off A Panic

European regulators are desperate. The only thing known about the holes in bank balance sheets stuffed with decomposing assets is that they’re deep. No one knows how deep. No one is allowed to know – not until Eurocrats decide who will pay for bailing out these banks. How do we know? ECB President Mario Draghi said that.

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Monday
Oct142013

Next Step In Dismantling The Dollar And US Credit Hegemony

The US has abused its three phenomenal privileges – including the control of the only world currency – to put global financial stability at risk, “like a truck full of dynamite heading right toward us,” said the chairman of the International Advisory Board of the Universal Credit Rating Group. But a “new financial order” is forming. And there's a timeframe.

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Sunday
Oct132013

Multi-Trillion Dollar Question: How Much of Our Debt Is “Odious”?

By Don Quijones: If there is a two-word combination that strikes primal fear into the hearts of global senior bankers and representatives of international financial institutions, it is “odious” + “debt,” a legal theory that holds that the national debt incurred by a regime for purposes that do not serve the best interests of the nation shouldn’t be enforceable.

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Sunday
Oct132013

Why The Wall Street Casino Lives On

David Stockman lashes out at the LBO of Extended Stay, a scam that made Blackstone billions, and saddled taxpayers with the detritus. It’s perhaps the most brilliant explanation ever as to why the Fed bailouts of Wall Street were an asinine idea that benefited the “0.0001%” but hurt everyone else, including taxpayers and the main-street economy.

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Saturday
Oct122013

How to Avoid a Devastating Retirement Planning Mistake

By Dennis Miller: The holy grail of retirement? Good financial planners use computer programs to help us set retirement savings goals, based on assumptions about how the world works, and out pops a number telling us how much we should save during our working years. Reach it and you're set for life. But that thinking can spell disaster.

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Saturday
Oct122013

The Multi-Billion Dollar Reason Argentina Can’t Be Venezuela, Yet

By Bianca Fernet, Argentina, The Bubble: I bring up Venezuela because I am frequently asked what I think is going to happen in Argentina. Venezuela provides a very sobering cautionary tale, because their economic policies look like Argentina’s on steroids.

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Saturday
Oct122013

Earnings Season Starts With A Bang, So To Speak

They’re getting hilarious, the shenanigans on Wall Street. Revenues have been lousy all year, and despite feverish cost cutting, earnings are sliding. The third quarter has been over for almost two weeks, but Q3 earnings estimates are still being pushed down. A lot! So that companies can “exceed expectations.” They’re now at stagnation levels. And stocks soar.

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Saturday
Oct122013

“The Situation Is Hopeless, But Not Serious”

By Shannara Johnson, Chief Editor, Casey Research: "After listening to the speakers, I made sure to program the number of the suicide hotline into my cell phone," real estate expert Andy Miller joked at the beginning of his speech. Rick Rule, resource investor and chairman of Sprott Holdings, quipped, "Amazing – I actually get to be the positive guy here."

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Friday
Oct112013

Sundown In America: The Keynesian State-Wreck Ahead

By David Stockman (Remarks at the Edmond Safra Center for Ethics, Harvard University): “The Federal budget has become a doomsday machine because the processes of fiscal governance are paralyzed and broken,” Stockman writes. “Under these conditions what remains of our free enterprise economy will buckle under the weight of taxes and crisis.”

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Friday
Oct112013

“Yellen Props Up Stocks” And Other Scary Data Points

Alarm bells went off: “Yellen props stocks,” the headline read. Somebody needs to. Politicians are actively contemplating how to most effectively send the largest and brokest debtor in history into default. Corporate revenues can’t keep up with inflation. Earnings estimates and actual earnings growth plunge. And the S&P 500 soared 16% year to date.

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Thursday
Oct102013

Huge Jump in Initial Unemployment Claims Is Not About A Computer Glitch

By Lee Adler, The Wall Street Examiner: First time unemployment claims jumped as the effects of the chaos in Washington began to ripple through the economy. The media had some lame excuse about California’s reporting software being screwed up. But that doesn’t wash.

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Thursday
Oct102013

Government Spies Help Canadian Energy Firms

By Charles Kennedy of Oilprice.com. Documents revealed by Edward Snowden describe how the Canadian spy agency has been involved in surveillance and hacking operations in the Brazilian Energy and Mines Ministry. Now new documents show that it participated in secret meetings with energy corporations to share the information it had gathered.

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Thursday
Oct102013

Republicans Are Losing The Debt-Ceiling Publicity War

The fight over the government shutdown and the debt ceiling, carried out in the media with maximum intensity, barrages of sound bites, folksy sounding talking heads, and a good portion of twisted logic, has cost both parties dearly. But it has hammered the GOP. A chart with an ugly plunge.

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Thursday
Oct102013

California To Grapple “Indefinitely” With Nuclear Hangover

The costs of nuclear accidents can be catastrophic, for generations. But there are also the routine costs after reactors are shut down, when decommissioning expenses pile up, for timeframes beyond human comprehension. True costs are unknown. Now, the scandal-plagued San Onofre plant in Southern California has become a test case – indefinitely.

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Wednesday
Oct092013

Apocalypse Later: US Supreme Court Passes on Argentine Bonds Case

By Bianca Fernet, Argentina, for The Bubble: Ahh. Nothing gets me going quite like the smell of defaults in the morning. Argentina’s path to economic ruin feels like a drunk snail making its way through molasses.

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