Jan 312014
 January 31, 2014  Posted by at 2:05 pm Finance 
Debt Rattle Jan 31 2014: Risk Times Risk Equals Fear

FacebookGoogle+TwitterLinkedinemail Russell Lee Sign near Weslaco, Texas January 1939 Financial risk is springing up from so many sides and nooks and angles and crannies by now that the overall picture has become chaotic. And needless to say, anyone invested in anything detests chaos; it instills fear. If you can no longer oversee from which angle which risk might pop up, selling looks like a good move, and that’s what we see happening. The Nikkei closed down again earlier today, and

Jan 302014
 January 30, 2014  Posted by at 3:30 pm Finance 
Debt Rattle Jan 30 2014: No More Humming Along

FacebookGoogle+TwitterLinkedinemail Arnold Genthe “Unidentified buildings, possibly movie set” 1920 As events continue and broaden in markets connected in any which way to emerging markets and central bank largesse, there comes a time when we need to consider that at some point it becomes inevitable that all sorts of leveraged bubbles start popping, leaving behind in their wake pools of vanishing virtual turned non-existent leveraged “assets”. The popping bubbles are not the beginning of the process, they’re merely the ingredients that

Jan 302014
 January 30, 2014  Posted by at 8:19 am Finance 
TEDx Talk: Take a street and build a community: Shani Graham

FacebookGoogle+TwitterLinkedinemail National Photo Co. “City Market. Washington, D.C.” 1917 Our very very sweet and dear friend Shani in Fremantle, Western Australia – love ya, girl – talks about how she and her main man “Tell ’em he’s dreaming” Tim took their plain old suburban street and metamorphosed it into something much more and much bigger, step by step and neighbor by neighbor. And about how you can do that too. Shani’s quite brilliant at telling her story in just 20

Jan 292014
 January 29, 2014  Posted by at 3:17 pm Finance 
Debt Rattle Jan 29 2014: Gutted Like a Fish

FacebookGoogle+TwitterLinkedinemail Arnold Genthe. Street scene with horse and wagon, Charleston, South Carolina 1920 On the political front, there are three clear battlegrounds in the world today. In Thailand, Prime Minister Yingluck Shinawatra has found out that being pretty isn’t enough. In the run-up to an election this Sunday, which she forced through in spite of calls for a delay because she thinks she’ll win, bombs are going off on a regular basis, planted by protesters who want her corrupt clan

Jan 282014
 January 28, 2014  Posted by at 3:07 pm Finance 
Debt Rattle Jan 28 2014: Squandered Blood and Angry Birds

FacebookGoogle+TwitterLinkedinemail Alexander Gardner Lincoln dedicates Gettysburg Monument November 19 1863 The only thing that irks me more than the present US government is the realization that the chances of getting a better one next time around is so close to zero it might as well be frozen solid. And I can’t even vote. I can only imagine what it must feel like to those who can. The entire system has been boxed in so thoroughly it’s a really bad idea

Jan 272014
 January 27, 2014  Posted by at 3:13 pm Finance 
 Debt Rattle Jan 27 2014: When Bubbles Bite

FacebookGoogle+TwitterLinkedinemail Gordon Parks “Mr and Mrs Joseph Lopez, Gloucester, Mass. 2 boys in the armed forces” June 1943 I guess I may be getting myself in a bit of a jam here, since I posted no Debt Rattle yesterday, but did do the Daily Links, and I do have things to say about some of those. For instance, I think it’s a big piece of news to see Stephen Hawking say black holes don’t exist, and I also think that

Jan 262014
 January 26, 2014  Posted by at 3:48 pm Finance 
The Infinite Elasticity of Credit - Redux

FacebookGoogle+TwitterLinkedinemail Carl Mydans For many, only source of water supply in Washington, D.C July 1935 I’ve told you that I intend to re-run pieces from the TAE archive from time to time. Today’s is from Nicole Foss, dated September 7, 2010. If possible, it’s only gained in relevance. Credit and debt are not just issues in the US, and not just at the present time either. History is full of credit/debt crises (1294 comes to mind), and so is the

Jan 252014
 January 25, 2014  Posted by at 3:38 pm Finance 
Debt Rattle Jan 25 2014: A Bank Run in London?

FacebookGoogle+TwitterLinkedinemail Lewis Wickes Hine for National Child Labor Committee Doffers in Pell City Cotton Mill Nov. 1910 It seems to come as a surprise to some, but when you think about it, it seems obvious that it only makes sense that if you try to hide a crisis behind huge amounts of money and credit leaked into global financial markets, those markets become addicted to credit injections faster than you can say taperworm. There may be something to say for

Jan 242014
 January 24, 2014  Posted by at 3:18 pm Finance 
Debt Rattle Jan 24 2014: Argentina Returns to Villa Miseria

FacebookGoogle+TwitterLinkedinemail Arnold Genthe Ice wagon horse wearing a hat in New Orleans 1923 Argentina is once again in very bad shape. It rose out of the ashes of its 2002 crisis, when it went through presidents like they were popsicles, and large swaths of the middle class ended up living in Villa Miseria shanty towns around Buenos Aires, but it did so through issuing debt. So there we go again. The no. 1 problem, again, is the lack of foreign

Jan 232014
 January 23, 2014  Posted by at 12:55 pm Finance 
Debt Rattle Jan 23 2014: In Debt We Trust

FacebookGoogle+TwitterLinkedinemail Jack Delano “FOR THEM, BOMBS : Chicago, Union Station” January 1943 Does the Chinese alphabet have a question mark? If not, this would be a good time to get one. After writing again yesterday about the enormous amounts of leveraged debt in the country, that threaten to bring down investment products closely linked to the shadow banking system, which at the same time is fast becoming a huge political force just through its sheer size, here’s another question about