The Automatic Earth

Debt Rattle August 21 2017

Aug 212017

August 21, 2017 Posted by Raúl Ilargi Meijer at 9:28 am Finance Tagged with: Brexit, diesel, eclipse, meddling, NAFTA, plunge, polarization, swaps, Trump No Responses »

Elliott Erwitt Waiting for a Streetcar in Downtown Pittsburgh 1950 • Ron Paul: 50% Stock Market Plunge ‘Conceivable,’ But Not Trump’s Fault (CNBC) • Zombies Propped Up As China’s Debt Swaps Surpass $100 Billion (BBG) • China’s Plunge Protection Team Claims “State Meddling” Stabilizes Markets (ZH) • House Of Cards: Lending Culture Is Leaving Australians Vulnerable (Abc) • Diesel Scandal Is A Risk To German Economy, Says Ministry (R.) • Britain and EU Clash Over Brexit Timetable for Trade

Debt Rattle August 20 2017

Aug 202017

August 20, 2017 Posted by Raúl Ilargi Meijer at 9:37 am Finance Tagged with: Brexit, China, conservatism, credit, diversity, empires, globalization, housing, Ricardo, Trump 1 Response »

Stanley Kubrick Shoe shine boys New York 1947 • What Happens When Credit Spreads Finally Rise (ZH) • Don’t Forget About The Red Swan (Stockman) • Ricardo’s Vice and the Virtues of Industrial Diversity (Steve Keen) • Utilitarian Economics and the Corruption of Conservatism (Philip Pilkington) • ‘The Housing Industry Is In A Time Of Major Transformation’ (AFR) • Hard Brexit ‘Offers £135 Billion Annual Boost’ To UK Economy (BBC) • Donald Trump Finally Comes Out of the Closet

Debt Rattle August 19 2017

Aug 192017

August 19, 2017 Posted by Raúl Ilargi Meijer at 10:00 am Finance Tagged with: crisis, debt, eclipse, Google, pensioners, poaching, Tesla, Trump, Washington, Wells Fargo 5 Responses »

Fred Stein Man in pushcart, New York 1944 • We’re Racing Towards Another Private Debt Crisis (Graeber) • China Moves To Curb Overseas Acquisitions As Firms’ Debt Levels Rise (G.) • Wells Fargo Troubles Shift From Phony Bank Accounts To Real Ones (R.) • Total Eclipse (Jim Kunstler) • A House Divided Against Itself Cannot Stand (Paul Craig Roberts) • The Truth Will Not Be Googled (Connelly) • Greek Pensioners Set For Another Blow (K.) • The Super Gangs

Debt Rattle August 18 2017

Aug 182017

August 18, 2017 Posted by Raúl Ilargi Meijer at 8:53 am Finance Tagged with: bubble, China, corruption, Deutsche, Ice-Nine, neoliberalism, Pence, regression, Spain, Warren 6 Responses »

Edward S. Curtis Slow Bull Dakota Sioux Medicine Man In Prayer 1907 • Never Doubt Regression To The Mean (Rosso) • The Stock Market Bubble is So Big Even the Fed’s Talking About It (Phoenix) • Ice-Nine: The Plan To Freeze The Financial System (Rickards) • Neoliberalism: The Idea That Changed The World (G.) • So When Will China’s Debt Bubble Finally Blow Up? (WS) • Charlene Chu Lays Out China’s “Doomsday” Scenario (ZH) • China’s New Problem: Frenzy

Debt Rattle August 17 2017

Aug 172017

August 17, 2017 Posted by Raúl Ilargi Meijer at 9:02 am Finance Tagged with: bitcoin, conversation, Fed, Goldman, inflation, madness, refugees, retirees 2 Responses »

Laura Gilpin The Rio Grande 1947 • The ‘Wall Of Worry’ That Stocks Have Climbed To Rally 271% Since 2009 (MW) • Global Negative-Yielding Debt Surges To Highest Since October (ZH) • The Fed Is Asking Questions, Not Providing Answers (BBG) • Fed Starts to Wonder If Cornerstone Inflation Model Still Works (BBG) • Goldman Sachs Is Infiltrating The Fed In Ways Most People Haven’t Noticed (BI) • Chinese Takeovers Of US Companies Plummet This Year (CNBC) • The

Debt Rattle August 16 2017

Aug 162017

August 16, 2017 Posted by Raúl Ilargi Meijer at 8:57 am Finance Tagged with: American Dream, China, crazy, crisis, debt, fish, leverage, plastic, property, Syria, war 2 Responses »

Fred Stein Hydrant, New York 1947 • The Greatest Crisis In World History Is About To Be Unleashed (von Greyerz) • After 100 Months of Buying The Dips – Peak Crazy (Stockman) • China Has Got To Fix Its Debt Problem, IMF Says (CNBC) • China Money Supply Growth Slips Again as Leverage Crunch Goes On (BBG) • UK Risks ‘Losing Its Place As Property-Owning Democracy’ • The New American Dream: Rent Your Home From A Hedge Fund (Black)

Rogoff, Orwell and Kafka

Aug 152017

August 15, 2017 Posted by Raúl Ilargi Meijer at 12:53 pm Finance Tagged with: cash, central banks, megalomania, NIRP, QE, Rogoff, theft, ZIRP 5 Responses »

Salvador Dali Madrid. Drunk man 1922 Harvard professor and chess grandmaster Kenneth Rogoff has said some pretty out there stuff before, in his role as self-appointed crusader against cash, but apparently he’s not done yet. In fact, he might just be getting started. This time around he sounds like a crossover between George Orwell and Franz Kafka, with a serving of ‘theater of the absurd’ on top. Rogoff wants to give central banks total control over your lives. They

Debt Rattle August 15 2017

Aug 152017

August 15, 2017 Posted by Raúl Ilargi Meijer at 8:42 am Finance Tagged with: buybacks, cashless, China, Civil War, crime, deflation, hell, NIRP, North Korea, refugees, Trump 3 Responses »

Stanley Kubrick Walking the streets of New York 1946 • Prepare For Negative Interest Rates In The Next Recession – Rogoff (Tel.) • We’re Still Not Ready for the Next Banking Crisis (BBG) • World’s Biggest Banks Face £264 Billion Bill For Poor Conduct (G.) • US Stock Buybacks Are Plunging (BBG) • Consumer Spending Expectations Down Again (Mish) • Dow 30,000, Not If Demographics Have Anything To Say (SA) • Ten Years After The Crash, There’s Barely Suppressed

Debt Rattle August 14 2017

Aug 142017

August 14, 2017 Posted by Raúl Ilargi Meijer at 8:59 am Finance Tagged with: Aleppo, antibiotics, chaos, conspiracy, elephants, protectionism, refugees, rollercoaster 1 Response »

August Strindberg Alpine Landscape I 1894 • Multiple Contraction : Stock Market Warning Siren is Blaring (WS) • Is The Euro Crisis Really Over? (Lacalle) • US Is The Real Trade Protectionist – China State Media (CNBC) • Fourth Turning: “It’s Going To Be A Rollercoaster Ride” (ZH) • Conspiracy or Chaos? (Jim Quinn) • Forget GDP – There’s More To Britain’s Wealth Than Its Bank Balance (Baggini) • Factory Farming, Antibiotics Use In Asia Creating Global Health Risks

Debt Rattle August 13 2017

Aug 132017

August 13, 2017 Posted by Raúl Ilargi Meijer at 9:20 am Finance Tagged with: China, euro, Greece, launder, Merkel, reboot, terrorists, trade war, Trump, volcanoes 3 Responses »

Vincent van Gogh Still life with bible 1885 • China Takes On State-Owned Firms (Balding) • Trump Warns Xi: Trade War With China Begins Monday (ZH) • The Actual Terrorists (PCR) • How Money Launderers Used Commonwealth Bank of Australia (CNBC) • The Euro Area Is Due for a Reboot. Here’s What Is Being Proposed • Italy’s Midsummer Dream: Shaking Off Sick Man of Europe Label (BBG) • Greece Seen Needing Credit Line To Exit Program (K.) • Stop