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

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Aug 012015
 
 August 1, 2015  Posted by at 9:54 am Finance Tagged with: , , , , , , , , ,  7 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

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Jul 312015
 
 July 31, 2015  Posted by at 10:15 am Finance Tagged with: , , , , , , , , , , ,  3 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

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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

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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’

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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

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Jul 282015
 
Debt Rattle July 28 2015

• Weakness in Asia Batters Currencies Abroad (WSJ) • Wealth Doesn’t Trickle Down, It Just Floods Offshore -$32 Trillion (Guardian) • Hong Kong Is Feeling China’s Pain (Bloomberg) • The Good News in China’s Stock Plunge (Pesek) • How Much Worse Can the Junk-Bond Sell-Off Get? (WolfStreet) • The Few Who Won’t Say ‘Sorry’ for Financial Crisis (Ritholtz) • Varoufakis Unplugged: The London Call Transcript (FT) • Statement on the FinMin’s Plan B Working Group (Yanis Varoufakis’ office) • Varoufakis:

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Jul 272015
 
 July 27, 2015  Posted by at 10:19 am Finance Tagged with: , , , , , , , , ,  4 Responses »
Debt Rattle July 27 2015

• China Stocks Suffer Biggest One-Day Loss In Eight Years (Reuters) • China Stocks Post Biggest Plunge Since 2007 (Bloomberg) • Varoufakis Reveals Cloak And Dagger Greece ‘Plan B’, Awaits Treason Charges (AEP) • Tsipras Under Pressure Over Covert Syriza Drachma Plan Reports (Reuters) • Greece Rocked By Alleged Secret Plan To Raid Banks For Drachma Return (Guardian) • The Politics of Coercion in Greece (Zoe Konstantopoulou, Speaker) • The Make Believe World Of Eurozone Rules (Wolfgang Münchau) • Capitalism,

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Jul 272015
 
 July 27, 2015  Posted by at 7:06 am Finance Tagged with: , , , , , ,  7 Responses »
Indicting Varoufakis: The World Upside Down

There’s always a great irony in anyone at all coming under pressure for doing exactly what they should be doing. Still, it happens a lot. The irony gets that much greater when the party in question is a government, and a much maligned one at that. Of course Syriza had to look into options, possibilities, eventualities if ever the moment might come that Greece had to (were forced to) move beyond the euro. They would have been entirely in fault,

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Jul 262015
 
Debt Rattle July 26 2015

• The Last Bubble Standing – Amazon’s Same Day Trip Through The Casino (Stockman) • Europe Braces Itself For Revolutionary Leftist Backlash After Greece (Telegraph) • Varoufakis – A New Kind Of Politics? (Paul Tyson) • Varoufakis Claims He Had Approval To Plan Parallel Banking System (Kathimerini) • Greece, The Sacrificial Lamb (Joe Stiglitz) • Depression’s Advocates (J. Bradford DeLong) • The Latest Rising Greek Political Star Who Says No To Austerity (HuffPo) • How the Euro Turned Into a

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