July 2014 - Page 2 of 3 - The Automatic Earth

The Day God Looked Away

Jul 202014

July 20, 2014 Posted by Raúl Ilargi Meijer at 2:23 pm Finance Tagged with: false flag, respect, Saddam 27 Responses »

Clyde H. Sunderland PanAm ‘China Clipper’ (Martin M130 Flying Boat) over San Francisco July 22, 1936 Presumed innocent. Innocent until proven guilty. Reasonable doubt. How long ago it seems that these principles guided our societies. Perhaps there are a few courts in the heartland left that still live up to them, but the aftermath of 9/11 certainly erased them from the overall American conscience. Some animals are more equal than others, said Orwell in Animal Farm. Guantanamo Bay showed that

Debt Rattle Jul 17 2014: The Rise Of The Super Dollar

Jul 172014

July 17, 2014 Posted by Raúl Ilargi Meijer at 6:45 pm Finance 11 Responses »

Fritz Henle “Air raid rules”, West Danville, Vermont July 1942 My, what a lovely day. Summer’s here. Then again, not so great perhaps if yours is one of the 18,000 jobs lost at Microsoft. Then again again, at least the move made Microsoft shares rise. Not anywhere near great if you, or someone close to you, were among the 300 or so on the passenger plane from Amsterdam that got downed just now over Ukraine. Still don’t like the role

Debt Rattle Jul 16 2014: Market Society: Money For Your Soul

Jul 162014

July 16, 2014 Posted by Raúl Ilargi Meijer at 8:01 pm Finance Tagged with: market, society, soul 1 Response »

Marion Post Wolcott Old buildings in New Orleans Jan 1941 There’s a lot of interesting pieces being written on a daily basis, if you care to look for them, and there’s never enough time and space to afford them the attention they should really deserve. Luckily, there are still many people out there, even in the financial world, who have a pretty astute understanding of what’s going on versus what we are told to believe there is. Not that I

Debt Rattle Jul 15 2014: Janet Yellen Is A Religious Nutcase

Jul 152014

July 15, 2014 Posted by Raúl Ilargi Meijer at 3:58 pm Finance 12 Responses »

DPC Unloading cotton, Mississippi sternwheeler City St. Joseph,Memphis TN 1910 Janet Yellen is a religious nutcase. She may not appear like one at first glance, but take a look at her picture again and you may find that instead that’s exactly what she looks like. She may have that nice little grandma façade, but then those are often the worst cases. I realize this is not a nice thing to say, but there are limits to what even nice little

Debt Rattle 14 Juillet: The Economy Is Deteriorating Fast

Jul 142014

July 14, 2014 Posted by Raúl Ilargi Meijer at 7:05 pm Finance Tagged with: borrowing, debt, ECB, money, time 7 Responses »

Debt Rattle 14 Juillet: The Economy Is Deteriorating Fast

Jack Delano Shopton locomotive shops, Fort Madison, Iowa March 1943 The insanity doesn’t just continue, it intensifies. The overriding idea is still that the more companies and individuals borrow, the better the economy goes. But that is nowhere near true. It may have been at some point in the past, but not now, not with debt levels at historic highs. Today’s problem is not that there is not enough credit or money available, as central banks try to make you

The Open Food Network

Jul 132014

July 13, 2014 Posted by Raúl Ilargi Meijer at 3:40 pm Finance Tagged with: community, farmer, food, internet, local 4 Responses »

G. G. Bain Jewish Farmers Exhibit, East Broadway, NY 1909 Today looks like a good day to do a shout out and promo for our dear friends Kirsten and Serenity in Melbourne, Oz, who were responsible for the impeccable organization of the tour of Australia Nicole and I did in 2012. So we have living proof that they know how to organize something once they pour their hearts into it, which bodes well for the new project they’re busy setting

Debt Rattle Jul 11 2014: Systemic Lies About Systemic Risks

Jul 112014

July 11, 2014 Posted by Raúl Ilargi Meijer at 2:21 pm Finance Tagged with: confidence, ECB, IMF, regulators, systemic 4 Responses »

Jack Delano Eastbound freight on Atchison, Topeka & Santa Fe near Ash Fork, AZ March 1943 I know, I know, you’re probably thinking: why all the attention for Portugal, and for Esperito Santo (Holy Spirit), its second biggest but still smallish bank – it’s just 0.3% of eurozone assets -, especially now that European markets have already shaken off yesterday’s scare and are happily bubbling away all over again as if nothing happened. Well, I’m sorry, but we got to

Debt Rattle Jul 10 2014: Fossils, Fuels and Zombies

Jul 102014

July 10, 2014 Posted by Raúl Ilargi Meijer at 2:48 pm Finance Tagged with: Big Oil, depletion, renewables, Shale 17 Responses »

Gottscho-Schleisner Rockefeller Center NYC, RCA Building Sep 1 1933 As fear begins to scare the vanguard of the herd into what may develop into a rampage, the eurocrisis is back with a vengeance. Portuguese bank Esperito Santo leads the way down through missed payments, bringing the Lisbon exchange to its knees with a -4.5% plunge as I write this, with northern EU exchanges showing -1.5% losses and southern ones -2.5%. Markets start to realize than all PIIGS now have much

Debt Rattle Jul 9 2014: Don’t Go Walk Under Wall Street Windows

Jul 092014

July 9, 2014 Posted by Raúl Ilargi Meijer at 6:07 pm Finance Tagged with: fear, Fed, herd, nerves 7 Responses »

Debt Rattle Jul 9 2014: Don't Go Walk Under Wall Street Windows

Harris & Ewing Controlled demolition, Washington DC Sep 17 1935 Irwin Kellner at MarketWatch phrases it in these colorful words: … what do you think will happen to stocks when the Fed decides to take away the punch bowl and raise rates? I don’t know, but if I were you, I would not walk under any open windows down on Wall Street. In these words, he expresses what increasing numbers of writers and analysts point to: that the exuberant market

Debt Rattle Jul 8 2014: The Future Of Banking Is Pay Cash Only

Jul 082014

July 8, 2014 Posted by Raúl Ilargi Meijer at 6:54 pm Finance 8 Responses »

Debt Rattle Jul 8 2014: The Future Of Banking Is Pay Cash Only

Marjory Collins Sunday picnic in Rock Creek Park, Washington DC July 1942 James Gorman, CEO – and anagram – of Morgan Stanley, has an article in the Wall Street Journal on the future of finance. After reading it, I have the distinct impression – suspicion – that Mr. Gorman owes his job to his lack of contact with reality, that anyone less prone to delusions would not be able to do the job he does the way he does it.

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