French Bank BNP Paribas Pleads Guilty Criminal Conspiracy Charges, Fined Record $9 Billion; Anyone Headed to Prison?

Today, French bank BNP Paribas plead guilty Monday to criminal money-laundering laws by helping clients dodge sanctions on Iran, Sudan and o...

Last Minute Concessions and Unreasonable Demands

The EU threatens more sanctions on Russia unless Russia meets three verifiable demands. One of the demands is reasonable, the other two aren...

Kurds Deputy PM Calls for Decentralized Iraq and Removal of Prime Minister Nouri al-Maliki

The Kurds played their cards in the Iraqi mess exceptionally well. They never threatened independence until Baghdad was too unstable to do a...

How Much Gold Should Someone Own? Where and How To Own It?

Periodically I receive questions on gold ownership. How much should one own, and where? Let's start with the first question: How Much Go...

What Would be the Effect of a Substantial Hike in the Minimum Wage?

In response to 100% of U.S. Employment Growth Since 2000 Went to Immigrants , reader Mike wonders what effect a rise in minimum wage would h...

Meet "Ray" Your Valet Parking Robot

US News has an interesting article on using robots to park cars at an airport in  Duesseldorf, Germany. You can schedule an appointment with...

100% of U.S. Employment Growth Since 2000 Went to Immigrants

The Center for Immigration Studies reports All Employment Growth Since 2000 Went to Immigrants .  Actually, greater than 100% of jobs went t...

Three More GM Recalls Today: When Will It End?

In a seemingly unending series of recalls, GM announce three more recalls today. This set involves pickup trucks, SUVs, Corvettes, and polic...

Another Ghost Town in China, This Time a Replica of Manhattan

Malinvestment in China proceeds at a staggering pace. Technically, this growth adds to GDP, but eventually it will be written off. Ghost cit...

Divided Iraq Inevitable; Isis Targets Baghdad Green Zone; Obama's Inane Weapons Proposal

A breakup of Iraq is now inevitable, even as the US and Iran are ideologically aligned in preventing that outcome. And while the US is still...

Bitcoins to Become Legal Currency in California; Bill Awaits Signing by Gov. Brown; Commodities vs. Currencies

California Bill AB-129 Lawful Money passed the California Senate on June 19, and the Assembly on June 23. The bill now awaits signing by Go...

Consumer Spending Weaker Than Expected, Autos Still Holding Up; What About Housing?

Curve Watcher's Anonymous has its eye on the yield curve following a disappointing (to those who believe consumption drives the economy)...

Truly Inane Bloomberg Analysis On Gold

Bad economic analysis abounds. Some of it is so bad you wonder if the authors understand how any markets work, not just the topic of discuss...

"Three Es Suggest Massive Change is Upon Us" Chris Martenson's Accelerated Crash Course

Chris Martenson at Peak Prosperity put together a condensed version of his 4.5-hour long Crash Course Video Series . The condensed version ...

Diving Into the GDP Report of -2.9% Growth

The first quarter GDP initial projection was 0.1%. The second estimate came in at -1.0%. Today the third estimate came in at -2.9%. Gosh, fi...

Kurdistan Leader Calls for "Self-Determination"; Kurds Sell Oil to Israel; Kerry's New Definition of "Intervention"

Iraqi Kurdistan leader Massoud Barzani says ' the time is here ' for self-determination. Iraqi Kurdish President Massoud Barzani gav...

Rebels Down Ukraine Helicopter in Ceasefire Violation; Putin Offers Concessions; Merkel's Misguided Threat

With the downing of another Ukraine helicopter by pro-Russia rebels, one would think tensions in the region would be up. Yet, analysts seem ...

Is There a Climate Bubble?

Here's the question of the day: Is there a climate bubble? In a New York Times op-ed, former treasury secretary Hank Paulson says there ...

French Private Sector Contracts Second Month; Eurozone Composite Growth Weakest in 6-Months

The Markit Flash Eurozone PMI shows Eurozone growth slows to six-month low despite strengthening periphery. Key Points Flash Eurozone PMI C...

Robot Truck Convoy Tests in Nevada; Driverless Trucks Before Cars, and Before the End of the Decade

I have discussed driverless trucks before, but the timeline keeps speeding up. Self-driving trucks before the end of this decade used to see...