Mar 292014
 March 29, 2014  Posted by at 12:46 pm Finance 
Debt Rattle Mar 29 2014: Candy Crush, Ukraine Style

FacebookGoogle+TwitterLinkedinemail National Photo Co. Janes’ candy store, Ninth Street, Washington, D.C. 1924 Boxing champ Vitali Klitschko, who was reportedly the most popular opposition leader in Ukraine during the Maidan protests before Yanukovych was chased away, and was then shunned by the west as interim PM in favor of banker-boy Yatsenyuk, this morning announced he’s no longer a candidate in the presidential elections in May. Instead, he’ll throw his heavyweight behind Ukraine’s own Willy Wonka, candy man Petro Poroshenko, known locally

Mar 282014
 March 28, 2014  Posted by at 6:09 pm Finance 
Debt Rattle Mar 28 2014: The China Clock Goes Tick Tock

FacebookGoogle+TwitterLinkedinemail Esther Bubley Daily Greyhound commute to Memphis September 1943 How do we know what’s really going on in China’s economy? Given that it’s – at least officially – under central control, that’s not easy. The Chinese leaders know their way around spin and propaganda; one might argue that their lives depend on it. Still, maybe following and connecting the dots as they appear in the news can be helpful. So I thought I’d squirrel together a few data and

Mar 272014
 March 27, 2014  Posted by at 7:22 pm Finance 
Debt Rattle Mar 27 2014: How The West Went To War

FacebookGoogle+TwitterLinkedinemail Esther Bubley Sign at the National Zoological Park, D.C. May 1943 The story itself may at times feel repetitious and belonging to a different era, but in the case of Ukraine it’s certainly applicable: another country is being given the Shock Doctrine treatment; it’s by no means restricted to South America in the 1970s. Ukrainians have hit the streets for months, and about a hundred of them got taken out cold by nobody knows who, just to end up

Mar 262014
 March 26, 2014  Posted by at 7:40 pm Earth Tagged with: , , ,  
Debt Rattle Mar 26 2014: This Is Why We Are Doomed

FacebookGoogle+TwitterLinkedinemail Detroit Publishing Co Galveston Flood disaster cyclorama, Coney Island 1904 If there’s one thing that defines why we, and the world we live in, are doomed, it can be found – once more – in a recent spat of (leaked) reactions to the upcoming new IPCC report. We’ve come a long way since skeptics started budging in the way creationists demand equal time on the new Cosmos series – only more successful – and now we’re way past mere

Mar 252014
 March 25, 2014  Posted by at 4:15 pm Finance Tagged with: , , ,  
Debt Rattle Mar 25 2014: Cold Warning

FacebookGoogle+TwitterLinkedinemail Charlotte Brooks Duke Ellington at bat near segregated motel in Florida April 1955 You can hurt a few handfuls of Putin’s people for a few days with sanctions like closing their Visa accounts. But if you threaten to buy less Rosneft oil and Gazprom gas, why should they really care? It’s not as if there’s a glut of either available. Any pain will be short lived. Moreover, it’s all but certain that such actions will drive Russia and China

Mar 242014
 March 24, 2014  Posted by at 7:23 pm Finance Tagged with: , , ,  
Debt Rattle Mar 24 2014: How Charles Ponzi Met His Maker

FacebookGoogle+TwitterLinkedinemail Werner Wolff Sidewalk sign, New York City August 1963 Obama has apparently asked Chinese President Xi Jinping for help in “restraining” Putin, but China has filed a lawsuit against Ukraine in a London court for the return of a $3 billion loan linked to spot and forward purchases of grain for future delivery to China. Obama talked to Xi man to man at a nuclear safety summit in The Hague where everyone who’s someone in high power circles (well,

Mar 232014
 March 23, 2014  Posted by at 6:43 pm Finance 
Debt Rattle Mar 23 2014: Will Ukraine Power Game Raise EU Energy Prices By 100%?

FacebookGoogle+TwitterLinkedinemail Dorothea Lange Mississippi grocery store June 1937 If I were a citizen of the European Union, especially of either the more eastern countries or of Britain, I’d be getting worried right now. I wouldn’t be so sure that what the Boys from Brussels are concocting is in my best interest. It’s one thing to hear the leadership declare that when it comes to gas, Putin needs Europe more than the other way around, but is that really true or

Mar 212014
 March 21, 2014  Posted by at 4:07 pm Finance Tagged with: , , ,  
Debt Rattle Mar 21 2014: A Wealth of Embarrassment

FacebookGoogle+TwitterLinkedinemail Marjory Collins Cooperative grocery store, Greenbelt, MD May 1942 Let me start off by saying that I don’t mean any disrespect to the families and loved ones of the passengers and crew on board the missing Malaysian plane. I just wish I didn’t have the insistent impression I’m the only one who doesn’t mean disrespect. But if this story can teach us one thing it’s that we have further mastered the art of all too easily turning genuine human

Mar 202014
 March 20, 2014  Posted by at 7:49 pm Finance 
Debt Rattle Mar 20 2014: An Unprecedented Opportunity

FacebookGoogle+TwitterLinkedinemail Arthur Rothstein Family on relief living in shanty at city dump, Herrin, Illinois 1939 My buddy VK sent me a link yesterday to a limits to growth piece by Nafeez Ahmed, executive director of the Institute for Policy Research & Development, in the Guardian, The Global Transition Tipping Point Has Arrived – Vive La Révolution, in which the author says almost all of the right things, but unfortunately gets a lot wrong as well. What Nafeez gets wrong, a

Mar 192014
 March 19, 2014  Posted by at 3:38 pm Finance Tagged with: , , ,  
The Bank of England Lights A Fuse Under the Field of Economics

FacebookGoogle+TwitterLinkedinemail Marion Post Wolcott Man washing car at Sarasota, Florida, trailer park January 1941 There will be many people who don’t care, there will be many more who don’t understand, and there will be boatloads who refuse to believe it’s true, but it still is. The Bank of England, in one single document, discredited, just at first count, 1) the majority of economics textbooks, 2) vast swaths of the entire field of economics, run as it is by economists educated