- “US Will Feel Tangible Losses,” Russia Prepares To Unleash Retaliatory Trade Wars (ZeroHedge, July 30, 2014):
“It’s a troubling continuation/expansion of trade as a geopolitical tool,” warns one Washington-based consulting firm as Russia prepares to unleash retaliatory actions to US and European sanctions. As Bloomberg reports, Russia said yesterday it may ban imports of chicken from the U.S. and fruit from Europe and is investigating McDonald’s cheese for safety. In addition, a Russian lawmaker has drafted legislation that might result in U.S. accounting firms being barred from doing business in his country. All of this is odd given Jack “trust me” Lew’s reassurance that Russian sanctions would have no impact on the US economy. Russia’s response, US will feel ‘tangible losses’ from ‘destructive, myopic’ sanctions.
As Bloomberg reports, while Russia and the U.S. have long sparred over agricultural trade, the actions fueled speculation they could be retaliatory.
Russia’s food safety agency said it may ban imports of U.S. poultry and some European fruit due to contamination of the products, according Bloomberg BNA, citing Russian state media. The food safety agency, known as Rosselkhoznadzor, also said it will examine suppliers of McDonald’s cheese for their use of antibiotics.
Russia was the second-largest market, after Mexico, for U.S. chicken last year, according to the USA Poultry & Egg Export Council. The U.S. exported about $309 million worth of broiler chickens to Russia last year, according to the council. Continue reading »
Tags: Barack Obama, Economy, EU, Europe, Global News, Government, Obama administration, Politics, Russia, U.S., Vladimir Putin
- GDP Deja Vu Stunner: Over Half Of US Growth In The Past Year Is From Inventory Accumulation (ZeroHedge, July 30, 2014):
Back in December 2013, when everyone was expecting a 3% GDP print for Q1, we did a simple analysis concluding that “Inventory Hoarding Accounts For Nearly 60% Of GDP Increase In Past Year.” We stated that this “hollow growth”, which is merely producers pulling demand from the future courtesy of cheap credit and assuming the inventory will be sold off in ordinary course of business without bottom-line slamming liquidations or dumping, and which further assumes a healthy US consumer and global economy, is a flashing red flag for the future of US economic growth. In fact, we were one of the very few who warned that Q1 GDP would be a disaster: “The problem with inventory hoarding, however, is that at some point it will have to be “unhoarded.” Which is why expect many downward revisions to future GDP as this inventory overhang has to be destocked.”
This is precisely what happened in Q1, however it was blamed on the “harsh weather.” Continue reading »
Tags: Economy, Global News, U.S.
- The Shocking Reason Putin Isn’t Worried About The $50 Billion Yukos Ruling:
“There is a war coming in Europe,” he said. “Do you really think this matters?”
- Top Financial Experts Say World War 3 Is Coming … Unless We Stop It (Washington’s Blog, July 30, 2014):
Nouriel Roubini, Kyle Bass, Hugo Salinas Price, Charles Nenner, James Dines, Jim Rogers, David Stockman, Marc Faber, Jim Rickards, Paul Craig Roberts, Martin Armstrong, Larry Edelson, Gerald Celente and Others Warn of Wider War
Paul Craig Roberts – former Assistant Secretary of the Treasury under President Reagan, former editor of the Wall Street Journal, listed by Who’s Who in America as one of the 1,000 most influential political thinkers in the world, PhD economist – wrote an article yesterday about the build up of hostilities between the U.S. and Russia titled, simply: “War Is Coming”. In the article, Roberts notes: Continue reading »
Tags: Barack Obama, Charles Nenner, David Stockman, Economy, Gerald Celente, Global News, Government, Hugo Salinas Price, James Dines, Jim Rickards, Jim Rogers, Kyle Bass, Larry Edelson, Marc Faber, Martin Armstrong, Middle East, Military, Nouriel Roubini, Obama administration, Paul Craig Roberts, Politics, Society, U.S.
- 21 Ways To End The Phrase ‘Americans Are So Broke…’ (Economic Collapse, July 29, 2014):
Did you know that 77 million Americans have unpaid debts that are “in collections” and that Congress is actually thinking about letting post offices offer payday loans? We live in a country where almost everyone is drowning in debt and where most people are either flat broke or very close to flat broke. Years ago, “your Mama is so broke” jokes were all the rage, and at the rate we are going they could make a big comeback. Some of my favorites were “your Mama is so broke she went to McDonald’s and put a milkshake on layaway” and “your Mama is so broke your family ate cereal with a fork to save milk”. Unfortunately, the facts that I am about to share with you are not funny at all. In fact, they are quite sobering. Yes, things are going fairly well for the elitists that live in the good areas of New York City, Washington D.C. and San Francisco right now, but most of the country is deeply struggling as our economic fundamentals continue to crumble. Please share these numbers with as many people as you can, because we need people to understand that there has not been an “economic recovery” for most of America. In fact, in many ways things just continue to get even worse.
The following are 21 ways to end the phrase “Americans are so broke”: Continue reading »
Tags: Collapse, Debt, Economy, Global News, Society, U.S.
- French Housing “In Total Meltdown”, “Current Figures Are Disastrous” (ZeroHedge, July 30, 2014):
If Venezuela is the case study of a country in the late stages of transition into a socialist utopia, then France is the clear runner up. The most recent case in point, aside from the already sliding French economy, whose recent contraction can be best seen be deteriorating PMI data…
… which hints at the dreaded “triple dip” recession, nowhere is the economic collapse in France more evident than in its housing market which as even Bloomberg admits, citing industry participants, is now “in total meltdown.”
The reason? The belief of the socialist president that a few economists know better than the overall market, especially when the sanctity of the “fairness doctrine” and the greater good is to be upheld at all costs. To wit: “French President Francois Hollande’s government may have made a housing slump worse, pushing the construction market to its lowest in more than 15 years. Housing starts fell 19 percent in the second quarter from a year earlier, and permits — a gauge of future construction — dropped 13 percent, the French Housing Ministry said yesterday.” Continue reading »
Tags: Economy, France, Francois Hollande, Global News, Government, Housing, Housing Bubble, Politics
- China Meat Scandal Spreads: McDonald’s Japan Slashes Guidance (ZeroHedge, July 29, 2014):
We warned last week that the scandal over Chinese meat supplier OSI was spreading (and Asians were increasingly shunning western fast-food restaurants) and now, as The FT reports, McDonald’s Japan has pulled its full-year profit guidance on the back of falling sales. It had previously forecast sales of $2.45bn for the year to December but warned it could not commit to new targets as it was too soon to estimate the scandal’s full impact.
As The FT reports, OSI processes the meat of 300m chickens a year in China, as well as other meats, vegetables and pre-assembled food such as sandwiches or wraps.
This is a problem for McDonalds as some of its 3,200 restaurants were forced to scratch chicken nuggets off the menu… Continue reading »
Tags: China, Economy, Food, Global News, Japan, Junk Food, McDonald's, Meat
- Moscow Stock Exchange Breaks – Trading Halted (ZeroHedge, July 30, 2014):
One can’t help but wonder if this is another ‘sanction’ that was not officially described by President Obama and Jack Lew…
Tags: Economy, Global News, MICEX, Russia, Stock Market
- EU Announces New Washington-Pleasing, Russia-Wristslap Sanctions (ZeroHedge, July 29, 2014):
After unleashing a 10-page report of the death and destructive economic impact they could have on Russia via sanctions, the European leaders have agreed to issue travel bans, some asset-freezes, and trade curbs on various new individuals and business entities. The Goldilocks sanctions… just enough to please Washington, not enough to infuriate Putin into ‘boomerangs’.
- *EU AMBASSADORS’ MEETING ON RUSSIA SANCTIONS REACHES DEAL: FT
EU ambassadors have reached agreement on a new round of travel bans and asset freezes in response to the crisis in Ukraine, diplomats say.
* * *
The sanctions… Continue reading »
Tags: Barack Obama, Economy, EU, Europe, Global News, John Kerry, Obama administration, Russia, Sergei Lavrov, U.S., Ukraine, Vladimir Putin
- Banco Espirito Santo Plunges: Shareholder Meeting Cancelled Due To “Unexpected Facts” (ZeroHedge, July 29, 2014):
With all other operating holdcos having already declared bankruptcy, the anxiety over Banco Espirito Santo is growing (despite DE Shaw and Goldman Sachs recommending investors buy the shares). Despite Bank of Portugal reassurance last night that “BES is able to raise capital), the stock is plunging on news of “unexpected facts” this morning…
- *BANCO ESPIRITO SANTO SAYS SHAREHOLDER MEETING WAS CANCELLED DUE TO “UNEXPECTED FACTS”
- *BANCO ESPIRITO SANTO FALLS MORE THAN 13% IN LISBON TRADING
Remember, this is systemic (as the Portugues President has warned), and the contagion is potentially global… not “contained.” Continue reading »
Tags: Banking, Collapse, Economy, Global News, Portugal, Stock Market
- Deadbeat Nation: A Shocking 77 Million Americans Face Debt Collectors (ZeroHedge, July 29, 2014):
We have been warning for years that as a result of the Fed’s disastrous policies, America’s middle class is being disintegrated and US adults are surviving only thanks to insurmountable debtloads. But not even we had an appreciation of how serious the problem truly was. We now know, and it is a shocker: according to new research by the Urban Institute, about 77 million Americans have a debt in collections.
As the Washington Post reports, that amounts to 35 percent of consumers with credit files or data reported to a major credit bureau, according to the study released Tuesday by the Urban Institute and Encore Capital Group’s Consumer Credit Research Institute. “It’s a stunning number,” said Caroline Ratcliffe, senior fellow at the Urban Institute and author of the report. “And it threads through nearly all communities.”
Tags: Collapse, Debt, Economy, Society, U.S.
From the article:
“There is a war coming in Europe,” he said. “Do you really think this matters?”
And we are talking about WW3 here … as planned by the Illuminati.
- The Shocking Reason Putin Isn’t Worried About The $50 Billion Yukos Ruling (ZeroHedge, July 28, 2014):
Having $50 billion of assets under potential seizure is enough to make anyone whince. However, despite a quickly worded statement on the Yukos award, Vladimir Putin seems less than anxious to find a resolution. We think we know why, and it’s very concerning.
As The FT reports confirming our earlier comments:
The award is a landmark not just for its size – 20 times the previous record for an arbitration ruling. The tribunal also found definitively that Russia’s pursuit of Yukos and its independently-minded main shareholder, Mikhail Khodorkovsky, a decade ago was politically motivated. Continue reading »
Tags: Economy, Global News, Government, Politics, Russia, Ukraine, Vladimir Putin, Yukos Oil
- Marc Faber Responds To CNBC Mockery, Asks “How Has CNBC’s Portfolio Done Since 1999?” (ZeroHedge, July 28, 2014):
Having provided his clarifying perspective on why the markets are extremely fragile and due for a 20-30% correction, Marc Faber was assaulted by CNBC’s Scott Wapner reading off a litany of recent calls that have not worked out as planned. His response was notable: “I started to work in 1970, and over that career, somehow, somewhere, I must have made some right calls; otherwise I wouldn’t be in business.” What CNBC then edited out of the transcript was Faber pointing out his 22% annualized return in his publicly-viewable funds since then and asking – sounding somewhat frustrated at the anchor’s mockery (and background snickers) – “I wonder what the CNBC portfolio would look like since 1999?”The response: silence. Continue reading »
Tags: Economy, Global News, Marc Faber, Stock Market
- Here’s What Wall Street Bulls Were Saying In December 2007: Read And Take Cover! (David Stockman’s Contra Corner, July 28, 2014):
The attached Barron’s article appeared in December 2007 as an outlook for the year ahead, and Wall Street strategists were waxing bullish. Notwithstanding the advanced state of disarray in the housing and mortgage markets, soaring global oil prices and a domestic economic expansion cycle that was faltering and getting long in the tooth, Wall Street strategists were still hitting the “buy” key. In fact, the Great Recession had already started but they didn’t have a clue:
Against this troubling backdrop, it’s no wonder investors are worried that the bull market might end in 2008. But Wall Street’s top equity strategists are quick to dismiss such fears.
Indeed, with the S&P 500 at an all-time high of 1460, the dozen top Wall Street prognosticators surveyed by Barron’s anticipated still more index gains during 2008: Continue reading »
Tags: David Stockman, Economy, Global News, Stock Market, U.S., Wall Street
- Most Transparent Insider Trading Congress Ever Tells SEC To Shove it (ZeroHedge, July 28, 2014):
“Do as we say, not as we do,” appears the modus operandi of the current administration’s increasingly totalitarian regime. Today’s edition of ‘wait, what?’ comes from The WSJ who report that The U.S. House of Representatives told a federal court Friday it should dismiss a lawsuit filed by the SEC (regarding the long-running insider-trading investigation) because Congress is lawfully allowed to ignore requests to turn over records and testimony to the executive branch agency. Arguing “sovereign immunity” and responding in a rather snarky (almost “do you know who we are?” manner), House attorneys blasted the SEC’s “fool’s errand.”
As WSJ reports,
The U.S. House of Representatives told a federal court Friday it should dismiss a lawsuit filed by the Securities and Exchange Commission because Congress is lawfully allowed to ignore requests to turn over records and testimony to the executive branch agency.
“Rather than acknowledge the fool’s errand on which it has embarked, the SEC instead invites this court to join it by disregarding fundamental limitations on judicial authority,” wrote House attorneys in a new court filing. Continue reading »
Tags: Barack Obama, Congress, Economy, Global News, Government, Insider Trading, Obama administration, Politics, SEC, U.S.
- 85 Super Wealthy People Have More Money Than The Poorest 3.5 Billion Combined (Economic Collapse, July 27, 2014):
The global economy is structured to systematically funnel wealth to the very top of the pyramid, and this centralization of global wealth is accelerating with each passing year. According to the United Nations, 85 super wealthy people have more money than the poorest 3.5 billion people on the planet combined. And 1.2 billion of those poor people live on less than $1.25 a day. There is something deeply, deeply broken about a system that produces these kinds of results. Seven out of every ten people on the planet live in countries where the gap between the wealthy and the poor has increased in the last 30 years. Despite our technological advances, somewhere around a billion people go to bed hungry every single night. And when our fundamentally flawed financial system finally does collapse, it will be the poor that will suffer the worst. Continue reading »
Tags: Collapse, Economy, Global News, New World Order, Poverty, Society
- America’s Lost Decade: Typical Household Wealth Has Plunged 36% Since 2003 (ZeroHedge, July 27, 2014):
Does it feel like you’re poorer? There is a simple reason why – you are! According to a new study by the Russell Sage Foundation, the inflation-adjusted net worth for the typical household was $87,992 in 2003. Ten years later, it was only $56,335, or a 36% decline… Welcome to America’s Lost Decade.
Simply put, the NY Times notes, it’s not merely an issue of the rich getting richer. The typical American household has been getting poorer, too.
The reasons for these declines are complex and controversial, but one point seems clear: When only a few people are winning and more than half the population is losing, surely something is amiss.
Continue reading »
Tags: Economy, Global News, Society, U.S.
Full article here:
- Forget What They Say And Watch What They Do (Mark St.Cyr, July 27, 2014):
You pay attention to when implementations seem to be appearing on a near regular basis that can separate you from your money with, or by the force, of law. e.g., The “Gates” Are Closing: SEC Votes Through Money Market Reform
You don’t sit down and draft this stuff up when everything is just ducky. You do it when you know or believe: If this shite hits the fan – its gonna get a whole lot worse even faster. Continue reading »
Tags: Banking, Economy, Global News, Government, Money Market, Obama administration, Politics, U.S.
- “London Fix” Gold Rigging By Bullion Bank Exposed In Class Action Lawsuit: The Complete Charts (ZeroHedge, July 27, 2014):
While the allegations in the lawsuit are well-known to frequent (and all other) readers of Zero Hedge, we recommend reading the full filing as it explains in clear English just what the fixing process worked. Perhaps what is more interesting are the abnormalities in the price of gold as highlighted by Derksen, which clearly show the critical role the daily fix has in the manipulation of the price of gold, both in a downward and upward (mostly downward) direction: whichever suits the London Fix member banks.
Tags: Banking, Economy, Global News, Gold
- Clintonians Join Vulture Flock Over Argentina (Truthdig, July 24, 2014):
It is no surprise that right-wing Republican and hedge fund billionaire Paul Singer should be trying to wring hundreds of millions of dollars out of Argentina for a debt that Buenos Aires doesn’t really owe him. He screwed tens of millions of dollars out of poverty-stricken Peru and the Republic of Congo using the same financial sleight of hand. What may surprise people, however, is that key leaders in the administration of former President Bill Clinton are helping him do it.
Singer, who owns Elliot Management, a $17 billion hedge fund, is the leading “vulture investor”—a financial speculator who buys up the bonds of debt strapped nations for pennies on the dollar and then demands payment in full. When Argentina defaulted on its foreign debt in 2001, Singer moved in and bought up $48 million in bonds. He is now demanding that those bonds be paid at full-face value—$1.5 billion—plus interest and fees. It is a move that could derail Argentina’s long climb back into solvency, as well as undermine debt settlements worldwide. Continue reading »
Tags: Argentina, Bill Clinton, Bonds, Debt, Economy, Global News, Government, Hillary Clinton, Paul Singer, Politics, U.S.
- Africa’s Largest Refinery Finds 2.7 Tons Of Gold “Missing” After Computer System Upgrade (ZeroHedge, July 25, 2014):
It’s one thing to implicitly admit that there is a physical gold shortage and as a result nations – such as Germany – are unable to repatriate their physical gold held in the safe and trusted confines 90 feet below the NY Fed, gold which may or may not be there and has likely been leased out exponentially to cover paper shorts by virtually every BIS-overseen central bank (and the BIS paper gold selling team itself of course). It is something totally different to corzine, as in vaporize, 87,000 ounces of physical gold, some 2.7 tons, and blame it on a computer upgrade glitch. Which is precisely what Rand, Afrrica’s largest refinery and processor of about a third of the world’s gold since 1920, has done after it “discovered” that $113 million in precious metal was missing after “adopting a new computer system.”
Bloomberg reports that the refinery in Germiston, a town 20 kilometers east of Johannesburg, has 87,000 ounces of physical gold less than the amount present in its accounting records after “implementation difficulties” with the new system, the company said in a statement today. That’s worth about $113 million at today’s price of $1,296 an ounce. Continue reading »
Tags: Africa, Economy, Global News, Gold
- Company In Which Joe Biden’s Son Is Director Prepares To Drill Shale Gas In East Ukraine (ZeroHedge, July 25, 2014):
Recall what we said earlier today: the proxy Ukraine war just like that in Syria preceding it, “is all about energy.”
Recall also the following chart showing Ukraine’s shale gas deposits, keeping in mind that the Dnieper-Donets basin which lies in the hotly contested eastern part of the nation and where as everyone knows by now a bloody civil war is raging, is the major oil and gas producing region of Ukraine accounting for approximately 90 per cent of Ukrainian production and according to EIA may have 42 tcf of shale gas resources technically recoverable from 197 tcf of risked shale gas in place.
Finally, recall our story from May that Joe Biden’s son, Hunter, just joined the board of the largest Ukraine gas producer Burisma Holdings. From the press release: Continue reading »
Tags: Barack Obama, Economy, Global News, Government, Joe Biden, Obama administration, Politics, R. Hunter Biden, U.S., Ukraine
- Food Inflation Watch: California Farmers’ Water Costs Surge 700% After Government Cuts Supply (ZeroHedge, July 24, 2014):
When we reported on the government’s decisiosn to withhold irrigation water to California for the first time in 54 years, we warned there would be consequences: farmers are hit hardest as “they’re all on pins and needles trying to figure out how they’re going to get through this.” Fields will go unplanted (supply lower mean food prices higher), or farmers will pay top dollar for water that’s on the market (and those costs can only be passed on via higher food prices). Sure enough, as Bloomberg reports, farmers in California’s Central Valley, the world’s most productive agricultural region, are paying as much as 10 times more for water than they did before the state’s record drought cut supply.
As Bloomberg Briefs’ Alison Vekshin reports, Continue reading »
Tags: Agriculture, California, Economy, Environment, Food, Food Prices, Global News, Government, Inflation, Politics, U.S., Water
Quantitative easing at work.
- Japanese Inflation Holds Near 23 Year Highs As Food, Energy, & TV Costs Soar (ZeroHedge, July 24, 2014):
Japanese CPI printed 3.6% in June, modestly down from May’s 3.7% YoY, but hotter than the expected 3.5% YoY analysts predicted. If you don’t eat food or use energy then inflation merely bit 2.3% of your income this year but if you did then you may have noticed that energy costs are 9.1% higher YoY, TVs +8.0%, and Food +4.1% (both showing no signs of making Japan’s Misery Index any less, well, miserable). PPI also printed at 3.6% (23 year highs). So when the Japanese politicians say “Abenomics is well on its way to achieving its goals…” they must mean ‘of lowering living standards for all Japanese people’.
Tags: Economy, Food, Global News, Inflation, Japan, Quantitative Easing
- Number Of French Jobless Rise To New Record (ZeroHedge, July 25, 2014):
With “recoveries” like these who needs staged, false flag conflicts and wars covering over 10% of the globe? Well, socialist France for one which moments ago announced that total jobless rose from 3.389 million to 3.398 million, a new record high. Surprisingly, while the year-over-year unemployment change for people under 25 declined by 3.1%, it was workers 25-49 which saw a material 3.3% increase in joblessness, but it was workers aged 50 and older that saw a veritable surge in unemployment, rising by 11.5% from a year ago. Surely, just like in the US, this is due to young people retiring in droves.
Reuters reports: Continue reading »
Tags: Economy, EU, Europe, France, Global News, Unemployment
- CEO Of Russia’s 2nd Largest Gold Producer Is “Horrified” At Market Manipulation (ZeroHedge, July 24, 2014):
The ongoing transition of gold price manipulation from conspiracy theory to conspiracy fact just escalated as Bloomberg reports, Peter Hambro, chairman of Russia’s 2nd largest gold producer Petropavlovsk Plc, said he was “horrified” by the manipulation of the London fix given its importance to the industry. One wonders just how many of these individuals, involved in the manipulation, Hambro is dinner-party friends with?
As Bloomberg reports,
“When I read the reports on what people had been doing to it, I was horrified,”Hambro said in an interview today. “It is something that is really important to people in the industry. It’s something that we use in a big way as we deliver our gold, that’s how we price.” Continue reading »
Tags: Economy, Global News, Gold
- Where China Goes To Outsource Its Own Soaring Labor Costs (ZeroHedge, July 24, 2014):
30 years ago, the great outsourcing wave took millions of US low-skilled jobs and planted them right in the heart of China, which was about to undergo the fastest industrialization-commercialization-financialization experiment in history. $26 trillion in bank assets later, the world’s biggest housing bubble, and a teetering financial system that every day depends on Beijing making the correct central-planning decision (of kicking the can one more day, of course) or else the biggest financial collapse in history will take place, all lubricated by years of inflation in everything and most certainly wages, and suddenly outsourcing jobs in China is not all that attractive. In fact, it has gotten so bad that China itself is now forced to outsource its own labor to cheaper offshore markets. Such as this one. Continue reading »
Tags: China, Economy, Global News
- World of Resistance Report: IMF, World Bank, Giant Consultants Admit The Storm Is Coming (OCCUPY, July 18, 2014):
Following Parts 1, 2, 3 and 4 of the World of Resistance Report, in this fifth installment I examine the warnings of social unrest and revolution emanating from the world’s major international financial institutions like the IMF and World Bank, as well as the world’s major consulting firms that provide strategic and investment advice to corporations, banks and investors around the world.
These two groups – financial institutions and the consultants that advise them – play key roles in the spread of institutionalized corporate and financial power, and as such, warnings from these groups about the threat posed by “social unrest” carry particular weight as they are geared toward a particular audience: the global oligarchy itself. Continue reading »
Tags: Economy, Global News, Government, IMF, Politics, Society
- Germany looking to join the BRICS (Hang The Bankers, July 24, 2014):
Financial analyst Jim Willie sensationally claims that Germany is preparing to ditch the unipolar system backed by NATO and the U.S. in favour of joining the BRICS nations, and that this is why the NSA was caught spying on Angela Merkel and other German leaders.
In an interview with USA Watchdog’s Greg Hunter, Willie, a statistical analyst who holds a PhD in statistics, asserted that the real reason behind the recent NSA surveillance scandal targeting Germany was centered around the United States’ fear that Europe’s financial powerhouse is looking to escape from an inevitable dollar collapse. Continue reading »
Tags: BRICS, Economy, EU, Europe, Global News, Government, Politics, Russia
- Typewriter manufacturers see boom in sales (The Local, July 21, 2014):
German typewriter manufacturers are enjoying a boom in sales following the NSA spying scandal. A German defence manufacturer switched to typewriters last year, while last week a leading politician called for the government to use the old technology.
The head of the parliamentary inquiry into spying by the US National Security Service (NSA) in Germany made headlines last week when he said his committee was considering using typewriters. But he is not alone.
With a turnover of €5 million, the German typewriter market is growing. Continue reading »
Tags: Economy, Germany, Global News, NSA, Surveillance