Aug 042015
 August 4, 2015  Posted by at 9:01 am Finance Tagged with: , , , , , , , ,  2 Responses »
Debt Rattle August 4 2015

• The Real Message Of Plunging Commodities (Michael Pento) • China’s Latest Warning to Equity Investors: No Big Sell Orders (Bloomberg) • China Looks For Scapegoats In Continued Stock Market Decline (Fortune) • US Hedge Fund Citadel Has Account Suspended in China (NY Times) • Greek Banks Lose 30% For Second Day In A Row, Stocks Down 4.5% (Reuters, FT) • Greek Stocks Plunge Most in Decades as Market Reopens to Crisis (Bloomberg) • Greek Traders See No End to

Aug 032015
 August 3, 2015  Posted by at 9:47 am Finance Tagged with: , , , , , , , , , ,  2 Responses »
Debt Rattle August 3 2015

• Asian Stocks Selloff Deepens To 2015 Lows On China Worry (Reuters) • Greek Stock Market Opens 23% Down After Five-Week Shutdown (Reuters, AFP) • Banks Lead Greek Stock Slump In First Day Of Trading After Closure (Bloomberg) • Greek Shares ‘Set To Plunge 20%’ As Stock Exchange Reopens (BBC) • Greek Manufacturing Slumps at Record Pace as Crisis Takes Toll (Bloomberg) • French Finance Minister Takes Aim At Schäuble Over Grexit Idea (Reuters) • Germans Fret Over Europe’s Future

Aug 022015
China And The New World Disorder

Nicole Foss: Our consistent theme here at the Automatic Earth since its inception has been that we are facing a very powerful deflationary depression, following on from the bursting of an epic financial bubble. What we have witnessed in our three decades of expansion and inflation is nothing short of a monetary supernova, and that period has been the just culmination of a much larger upward trend going back many decades at least. We have lived through a credit hyper-expansion

Aug 022015
 August 2, 2015  Posted by at 11:01 am Finance Tagged with: , , , , , , , , ,  3 Responses »
Debt Rattle August 2 2015

• Who Needs The Fed? The Rate Hike Cometh On Its Own (Reuters) • China Central Bank Official Sees Downward Pressure On Economy Persist (Reuters) • China’s Naked Emperors (Paul Krugman) • China’s Stock Markets: Nearly 25 Years of Wild Swings (WSJ) • Fears For Chinese Economy As Shares Fall (Observer) • Commodities Slide Deeper Into a Rut (WSJ) • In Favour Of Varoufakis’ Plan B (Paul Tyson) • James Galbraith on Greek Plan B (TRN) • Greece May Seek

Aug 012015
 August 1, 2015  Posted by at 11:22 am Finance Tagged with: , , , , , , , , , , ,  No Responses »
Debt Rattle August 1 2015

• Coal Mine Worth $624 Million Three Years Ago Sold for $1 (Bloomberg) • Carlyle Fund Walloped in Commodities Rout (WSJ) • Raoul Pal, Who Called Dollar Rally, Sees -German- Catastrophe Ahead (CNBC) • Why 99% Of Trading, Worth $32 Trillion, Is Pointless (MarketWatch) • OPEC Shale War Leaves Big Oil Companies as Surprise Victims (Bloomberg) • Who Really Benefits From Bailouts? (Ritholtz) • The Euro, Like The Gold Standard, Is Doomed To Fail (Ann Pettifor) • Tsipras Survives for

Aug 012015
 August 1, 2015  Posted by at 9:54 am Finance Tagged with: , , , , , , , , ,  9 Responses »
Power and Compassion

Time to tackle a topic that’s very hard to get right, and that will get me quite a few pairs of rolling eyes. I want to argue that societies need a social fabric, a social contract, and that without those they must and will fail, descend into chaos. Five months ago, I wrote the following about Europe: Europe, The Morally Bankrupt Union The European Union is busy accomplishing something truly extraordinary: it is fast becoming such a spectacular failure that

Jul 312015
 July 31, 2015  Posted by at 10:15 am Finance Tagged with: , , , , , , , , , , ,  4 Responses »
Debt Rattle July 31 2015

• September Is Looking Likelier for Fed’s First Rate Increase (NY Times) • SYRIZA To Hold ‘Emergency’ Congress In September (DW) • China’s Stocks Extend Slump in Worst Monthly Decline Since 2009 • Corporate Giants Sound Profits Alarm Over China Slowdown (FT) • “The Virtuous Emerging Market Cycle Is Turning Vicious” (Albert Edwards) • Italy Is The Most Likely Country To Leave The Euro (WaPo) • The Greek Coup: Liquidity as a Weapon of Coercion (Ellen Brown) • Greece Crisis

Jul 302015
 July 30, 2015  Posted by at 9:41 am Finance Tagged with: , , , , , , ,  7 Responses »
Debt Rattle July 30 2015

• The Great Reset – Act II (Russell Napier) • Treason Charges: What Lurks Behind The Bizarre Allegations (Varoufakis) • This Is A Recipe For A European Civil War (AEP) • The Defeat Of Europe (Yanis Varoufakis) • If Varoufakis Is Charged With Treason, Then Dijsselbloem Should Be As Well (ZH) • In Defence Of Yanis Varoufakis (El-Erian) • Yanis Varoufakis Is Being Pilloried For Doing What Had To Be Done (Legrain) • After Greece, Everyone Will Want A Plan

Jul 292015
 July 29, 2015  Posted by at 9:34 am Finance Tagged with: , , , , , , , , , ,  5 Responses »
Debt Rattle July 29 2015

• Varoufakis Faces Criminal Prosecution Over ‘Plan B’ Currency Plot (Telegraph) • Greek Supreme Court Prosecutor Takes Action Over Varoufakis Affair (Kath.) • One Veteran FX Trader: ‘Greece Is Playing It Correctly’ (Zero Hedge) • Why Greece’s Lenders Need to Suffer (NYT Magazine) • Something Is Rotten In The Eurozone Kingdom (Yanis Varoufakis) • Fed Expected To Push Ahead With Rate Hike Plan (Reuters) • “Fed Rate Hike Would ‘Crush’ US Housing” (CNBC) • How Long Can China’s ‘Rescue Squad’

Jul 282015
 July 28, 2015  Posted by at 6:38 pm Finance Tagged with: , , , , , , , ,  6 Responses »
What Happens When Economists Talk Politics

As the “Varoufakis Files” provide everyone interested in the Greek tragi-comedy with an additional million pages of intriguing fodder -we all really needed that added layer of murky conspiracy, re: the Watergate tapes-, a different question has been playing in my head. Again. That is: Why are economists discussing politics? Why are the now 6 month long Greece vs Troika discussions being conducted by the people who conduct them? All parties involved are apparently free to send to the table