May 292015
 
 May 29, 2015  Posted by at 2:32 pm Finance Tagged with: , , , , , , ,  No Responses »
The Pressure Just Shifted from Greece to the US and EU

With the 3rd US Q1 GDP print coming in at -0.7% (-3% if not for inventories), perhaps the media spotlights – and lively imagination – can move away from Greece for a few weeks. The US has enough problems of its own, it would seem. For one thing, its Q1 GDP is now worse than Greece’s. Of course its debt is also much higher, just not to the IMF and ECB. But let’s leave that one be for the moment.

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May 292015
 
 May 29, 2015  Posted by at 10:25 am Finance Tagged with: , , , , , , , , ,  1 Response »
Debt Rattle May 29 2015

• ECB Fears ‘Abrupt Reversal’ For Global Assets On Fed Tightening (AEP) • US And China Can Avoid Collision Course – If US Gives Up Its Empire (Guardian) • The Economist Who Realized How Crazy We Are (Michael Lewis) • Euro-Sclerosis (Alasdair Macleod) • This Time It Is Different (Martin Armstrong) • Austerity and Balanced Budgets Doomed To Fail (Rochon) • John Nash’s Game Theory Doesn’t Bode Well For Greece (El-Erian) • Stiglitz Tells EU to Admit Mistakes and Ease

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May 282015
 
Debt Rattle May 28 2015

• US Firms Spend More on Buybacks Than Factories (WSJ) • You’ve Met Hillarynomics. Now Meet Left-of-Hillarynomics. (Vox) • 40% of American Workers Now Have ‘Contingent’ Jobs (Forbes) • Fossil Industry Faces A Perfect Political And Technological Storm (AEP) • The Tanker Market Is Sending a Big Warning to Oil Bulls (Bloomberg) • China Stocks Plunge 6.5%, Worst Selloff In 4 Months (CNBC) • Yen Drops to 12-Year Low as Yellen Builds Case for Fed Rate Rise (Bloomberg) • US

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May 272015
 
 May 27, 2015  Posted by at 11:38 pm Finance Tagged with: , , , , , , , , ,  4 Responses »
Austerity, Economics and Religion

There are many things going on in the Greece vs Institutions+Germany negotiations, and many more on the fringe of the talks, with opinions being vented left and right, not least of all in the media, often driven more by a particular agenda than by facts or know-how. What most fail to acknowledge is to what extent the position of the creditor institutions is powered by economic religion, and that is a shame, because it makes it very difficult for the

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May 272015
 
 May 27, 2015  Posted by at 9:46 am Finance Tagged with: , , , , , , , , , , ,  1 Response »
Debt Rattle May 27 2015

• China Blows Its Debt Bubble Bigger (Pesek) • Bernanke: No Risk Of Hard Landing In China (Reuters) • Greece May Delay IMF Payments Till The End Of June (Guardian) • Greece’s Creditors Must ‘Get Their Act Together’, Says Varoufakis (AFP) • Steve Keen: Varoufakis Battles ‘Divorce Lawyer’ Style Austerity Talks (CNBC) • Juncker Questions Varoufakis, Tsipras (Kathimerini) • Greek Default, European Bankruptcy (Jacques Sapir) • A Parallel Currency For Greece: Part I (VoxEU) • Half Of Greeks Cover Their

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May 262015
 
Debt Rattle May 26 2015

• We Must Protect Our Children From Austerity (Guardian) • Greek Hospitals Out Of Painkillers, Scissors And Sheets Due To Austerity (RT) • The Key To A Greek Economic Revival Has To Be An End To Austerity (Münchau) • Austerity Is the Only Deal-Breaker (Yanis Varoufakis) • Greece Is All But Bankrupt (NY Times) • The World Is Drowning In Debt, Warns Goldman Sachs (Telegraph) • Investors Are Playing A ‘Greater Fool’ Game (George Magnus) • Weak Productivity Turns Into

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May 252015
 
 May 25, 2015  Posted by at 10:11 am Finance Tagged with: , , , , , , , , , ,  No Responses »
Debt Rattle May 25 2015

• Memorial Day: Our Soldiers Died For The Profits Of The Bankers (Smedley Butler) • Europe’s Biggest Debt Collector: Central Banks’ Stimulus Has Failed (Bloomberg) • “It’s A Coup D’Etat”, “Central Banks Are Out Of Control” – David Stockman (ZH) • Unemployment Is a Big Threat to Eurozone Economy, Central Bankers Warn (WSJ) • HSBC Fears World Recession With No Lifeboats Left (AEP) • Did China Just Launch World’s Biggest Spending Plan? (Gordon Chang) • G7 Finance Ministers To Address

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May 242015
 
 May 24, 2015  Posted by at 11:12 am Finance Tagged with: , , , , , , , , ,  3 Responses »
Mario Draghi's Slippery Downward Slope

Mario Draghi made another huge faux pas Thursday, but it looks like the entire world press has become immune to them, because it happens all the time, because they don’t realize what it means, and because they have a message if not a mission to sell. But still, none of these things makes it alright. Nor does Draghi’s denying it was a faux pas to begin with. And while that’s very worrisome, ‘the public’ appear to be as numbed and

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May 242015
 
 May 24, 2015  Posted by at 9:27 am Finance Tagged with: , , , , , , , ,  1 Response »
Debt Rattle May 24 2015

• Borders Closing And Banks In Retreat; Is Globalisation Dead? (Guardian) • Capitalism Is Killing America’s Morals, Our Future (Paul B. Farrell) • America Has Become a “Banana Republic Run by Wall Street Criminals” (MM) • Tsipras Reiterates Red Lines But Faces Revolt Within Syriza (Kathimerini) • Europe Said to Weigh Contingency Plans in Greece Impasse (Bloomberg) • Neither Grexit Nor A Dual Currency Will Solve Greece’s Problems (Matthes) • Hotel Contracts With A ‘Greek Default Clause’ (Kathimerini) • The

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May 232015
 
 May 23, 2015  Posted by at 10:31 am Finance Tagged with: , , , , , , , , , , ,  1 Response »
Debt Rattle May 23 2015

• Our $58 Trillion Love Affair With Debt, In One Crazy Chart (CNBC) • Fed On Track To Hike Rates As Economic Headwinds Wane: Yellen (Reuters) • BRICS To Establish New Multi-Currency Financial Order (RT) • How ‘Mathiness’ Made Me Jaded About Economics (Bloomberg) • Jim Chanos Thinks China Could Be The Next Greece (MarketWatch) • Greece and Creditors Struggle for Elusive Deal (WSJ) • Eurozone Says No Greek Deal Without IMF (FT) • Yanis Varoufakis Is More Than His

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