By Don Quijones: Revelations of a dirty, big business in Europe, and of the role banks play to make it possible. In fact, during the financial crisis, European banks “were as good as saved by the global drug trade.”
By Don Quijones: “You’re making a grave mistake,” the CEO of Catalonia’s megabank La Caixa allegedly told Catalonian President Artur Mas. Like many big shots, he’s fretting over the prospect of independence from Spain - an existential threat to the region’s banks.
By Rainey Reitman, Electronic Frontier Foundation: Obama met with US tech companies to contain the festering NSA scandal ... two days after NSA's Rajesh De stated that these companies had been willing participants in it, which they'd strenuously denied before.
For the millions of unemployed Americans who are looking for a job, this economy is still a historic fiasco. And it’s getting worse again.
By Steve Sjuggerud, Daily Wealth: I admit it: I make mistakes investing. People get the impression that because I'm a well-known investment writer I somehow don't make mistakes in the markets. That's crazy! The more important factor is how you handle them.
By Nicholas Cunningham, Oilprice.com: The US coal market is shrinking, the industry’s prospects dim. Coal producers seek salvation overseas but face high transportation costs and cheap coal from other countries. And China is a major reason for the gloom.
The White House attacks Russian financial markets and oil, publicly and behind-the-scenes, Merkel suffers from “moral cowardice,” Russia develops the “Putin Doctrine” and threatens Estonia, and a crescendo of sanctions and counter-sanctions erupts. What gives?
By Cali Money Man, Testosterone Pit Exclusive: Our new normal is not the only new normal possible.
Pungent, irascible, razor-sharp – the former Budget Director under President Reagan in peak form (video).
Wall Street once again stands out as history’s most glorious, most efficient, sophisticated, prolific “gigafactory,” to use Tesla’s newfangled term, for the production of self-serving BS. Investors beware!
By Tim Melvin: With stock markets flying near all-time highs, a recent article recommended tapping into home equity to purchase stocks. It listed three major points why this is a great idea. But it could be a horrible idea.
By Jennifer Lynch, Electronic Frontier Foundation: According to the L.A. Police Department and L.A. Sheriff’s Department, anyone driving a car in the greater Los Angeles Metropolitan area is part of a vast criminal investigation!
Finally we know why French government debt and French stocks have performed so well, despite the crummy economy, and why France has been spared so far the fate of Cyprus: the fiasco won’t happen suddenly in France, the bank reported. It will be slow and torturous.
When BlackRock CEO Larry Fink grumbled about “way too much optimism” in the markets, he wasn’t kidding. An entire mindset is benchmarking today’s record metrics against the splendor of 2000 and 2007: not to warn, but to prove that this time it won’t end in tears.
By Daniel Graeber: Shell is already steeped in its Alaska offshore debacle. Now its new boss admitted that fracking in the US, after a huge investment, is a money-losing business.
By Don Quijones: “We have to fight corruption in order to build a new model of more sustainable and fairer growth,” pontificated the CEO of BBVA, a Spanish TBTF bank.
By Dan Dicker, Inside Investor: The release from the Strategic Petroleum Reserve took down the price of oil in the US, but not in the rest of the world, and didn't impact Russia. New measures are bandied about - ludicrous attempts by the government to flex some muscle.
The first official warning shot was fired before an all-out assault on the dollar system begins. Not by a Putin advisor that can be brushed off, but by Alexey Ulyukaev, Russia’s Minister of Economy and former Deputy Chairman of the Central Bank. A major escalation.
By Bryan Taylor, Chief Economist, Global Financial Data: Which country has the dubious distinction of suffering the worst bear market in history? It's still going on right now.