May 252016
 May 25, 2016  Posted by at 1:31 pm Finance Tagged with: , , , , , , , , ,  2 Responses »
Brexit: Wrong Discussion, Wrong People, Wrong Arguments

There’ve been a bunch of issues and topics on my -temporarily non-writing- mind, and politics, though as I’ve often said it’s not my preferred focus, keeps on slipping in. That’s not because I’ve gotten more interested in ‘the game’, but because the game itself is changing in unrecognizable fashion, and that is intricately linked to subjects I find more appealing. For instance, in the past few days, I’ve read Matt Taibbi’s epos on the demise of America’s Republican Party in

May 252016
Debt Rattle May 25 2016

• Hillary Clinton Loves To Trumpet Bill’s Budget Surplus. She Shouldn’t. (Week) • Jeff Gundlach Says US Stock Market Is ‘Dead Money’ (R.) • Eurozone Hails ‘Breakthrough’ With Greece, IMF Debt Deal (R.) • Draghi Running Out Of Options After Draining Bond Market by $800 Billion (BBG) • China Weakens Yuan Fixing to Lowest Since 2011 (BBG) • China Says It Has Conquered Commodities Trading Frenzy (BBG) • New York, London on Notice as China Targets Commodities Pricing (BBG) •

May 242016
 May 24, 2016  Posted by at 9:40 am Finance Tagged with: , , , , , , , , , , ,  No Responses »
Debt Rattle May 24 2016

• ‘Massive Bailout’ Needed in Debt-Saddled China: Charlene Chu (BBG) • SOE Debt Could Easily Overwhelm China’s Banking System ( • China Takes Back Control Over Yuan (WSJ) • Negative Rates Prompt Japan Banks to Opt Out Via Derivatives (BBG) • Iron Ore Price Falls 27% In Past Month (BI) • Deutsche Bank Ratings Cut by Moody’s (BBG) • Greece Is Never Going To Grow Its Way Out Of Debt (Coppola) • Austerity Means Privatizing Everything We Own (G.) •

May 232016
Debt Rattle May 23 2016

• Japan April Imports Fall 23.3%, Exports Drop 10.1% (BBG) • Japan May Factory Activity Shrinks Most In Over Three Years (R.) • Investors Check Out of Europe (WSJ) • US Dollar Will Be The Winner When The EU Volcano Erupts (CNBC) • Saudi Financial Crisis ‘Could Leave Oil At $25’ As Bills Get Paid In IOUs (AEP) • The IMF And Calling Berlin’s Bluff Over Greece (Münchau) • Athens Agrees Fiscal Measures In Exchange For Debt Relief Talks (FT)

May 222016
 May 22, 2016  Posted by at 9:29 am Finance Tagged with: , , , , , , , ,  No Responses »
Debt Rattle May 22 2016

• G-7 Warns on Weak Global Growth as Japan Bristles Over Yen (BBG) • Jeremy Corbyn Calls For New Economics To Tackle ‘Grotesque Inequality’ (G.) • “We Are Becoming Convinced That The System Won’t Stabilize” (Matt King) • Greece Braces for More Austerity Amid EU-IMF Quarrel About Debt (BBG) • This Time, The IMF Comes Bearing Gifts For The Greeks (G.) • Europe Should Heed The Lessons of 1913 (Horvat) • New Evidence About The Dangers Of Monsanto’s Roundup (Intercept)

May 212016
 May 21, 2016  Posted by at 9:17 am Finance Tagged with: , , , , , , , , , ,  2 Responses »
Debt Rattle May 21 2016

• One-Third Of Chinese Real Estate Companies Are “Zombies” (Nikkei) • Defaults Throw Wrench in China’s $3 Trillion Company Bond Engine (BBG) • Easy Money = Overcapacity = Deflation (Rubino) • Cash-Stuffed US Balance Sheets No Match for Even Bigger Debt Loads (BBG) • US, Japan FX Row Overshadows G7 Meeting (R.) • Crude Tanker Storage Fleet Off Singapore Points To Stubborn Oil Glut (R.) • How Freddie and Fannie Are Held Captive (Morgenson) • TTIP: The Most Toxic Acronym

May 202016
 May 20, 2016  Posted by at 8:59 am Finance Tagged with: , , , , , , , , , ,  2 Responses »
Debt Rattle May 20 2016

• Lacking New Ideas, G7 To Agree On ‘Go-Your-Own-Way’ Approach (R.) • Japan And US Are Headed For A Showdown Over Currency Manipulation (MW) • Kuroda Stresses Readiness to Act if Yen Rise Threatens Inflation Goal (WSJ) • US Business Loan Delinquencies Spike to Lehman Moment Level (WS) • China Steelmakers Attack US 522% Tariff Move; Say Need More Time (R.) • The Iron Mountain on China’s Doorstep Tops 100 Million Tons (BBG) • Big Chinese Banks Issue New Yuan-Denominated

May 192016
 May 19, 2016  Posted by at 9:13 am Finance Tagged with: , , , , , , , ,  No Responses »
Debt Rattle May 19 2016

• Not All Death Crosses Are Created Equal (BBG) • China’s Communist Party Goes Way Of Qing Dynasty As Debt Hits Limit (AEP) • China’s Housing Bubble Is So Big, Goldman Will “Need A Bigger Chart” (ZH) • Emerging-Market Assets Under Pressure as Fed Minutes Lift Dollar (BBG) • The Case For Germany Leaving The Euro #Gexit (Bibow) • Europe’s Troubled Push For Bank Bail-Ins (FT) • Euro Area Shifts Greek Focus to Debt Relief to Win IMF Support (BBG)

May 182016
 May 18, 2016  Posted by at 8:54 am Finance Tagged with: , , , , , , , , , ,  3 Responses »
Debt Rattle May 18 2016

• US Debt Dump Deepens In 2016 (CNN) • The Humungous Depression (Gore) • Negative Rates Are A Form Of Tax (MW) • The Negative Interest Rate Gap (Dmitry Orlov) • The EU Has “Run Its Historical Course” (ZH) • Italy Wins Brussels’ ‘Flexibility’ On Debt Reduction Targets (FT) • US Raises China Steel Taxes By 522% (BBC) • Chinas Debt Bubble Is Getting Only More Dangerous (WSJ) • China To Curb Shadow Banking Via Checks On Fund House Subsidiaries

May 172016
 May 17, 2016  Posted by at 9:22 am Finance Tagged with: , , , , , , ,  2 Responses »
CERN Discovers New Particle Called The FERIR

This is an article by our friend Steve Keen, which was yanked by Forbes yesterday after just a few hours due to, according to Steve, their ‘parody policy’. I did some research and it turns out the Automatic Earth has no such policy. So I offered Steve to repost it here. Steve Keen: CERN has just announced the discovery of a new particle, called the “FERIR”. This is not a fundamental particle of matter like the Higgs Boson, but an