Sep 172014
 September 17, 2014  Posted by at 7:18 pm Finance Tagged with: , , ,  10 Responses »
Debt Rattle Sep 17 2014: Scotland Must Vote Yes! For All Of Us

Esther Bubley The gas behind the gun, Columbus, Ohio Sep 1943 I want to start off by expressing my deeply felt admiration and gratitude for the way the Scots and Brits alike have made the run-up to the September 18 referendum a peaceful and civil affair. It’s not at all hard to imagine how this could have been very different. Hats off to y’all for that. And may it be an example for future independence referendums elsewhere. It should, the

Sep 162014
 September 16, 2014  Posted by at 8:13 pm Finance Tagged with: , ,  8 Responses »
Debt Rattle  Sep 16 2014: Subprime Is Back With A Vengeance

Christopher Helin Franklin car on slope, San Francisco. 1920 A few days ago, I wrote an essay about how ECB head Mario Draghi seeks to redefine the definitions of certain words and terms, like the one that define financial instruments, because he needs to find hundreds of billions in new spending money in Europe without adding to the behemoth existing debt (Germany won’t let him do that). And yes, that is indeed as impossible and meaningless as you think it

Sep 152014
 September 15, 2014  Posted by at 5:40 pm Finance Tagged with: , , , ,  11 Responses »
Debt Rattle Sep 15 2014: The Yin and Yang of Growth and Power

Arthur Rothstein Bathgate Avenue in the Bronx Dec 1936 These are dangerous times. The dangers come from places hardly anybody ever thought to look for them. And that is a danger in itself. The world has become an amalgamation of centralized blocks of power on the one hand, and a move away from these blocks on the other. The latter happens for good reason. Not that any such reason should be required. The plain and basic human right to, and

Sep 142014
 September 14, 2014  Posted by at 6:24 pm Finance Tagged with: , , , , ,  11 Responses »
Debt Rattle Sep 14 2014: Draghi To Save Europe With Semantics

Harris & Ewing Children at water fountain, Washington, DC 1922 Before I get going, let me recommend two wonderful articles I put in today’s Daily Links list at The Automatic Earth. Which is updated every day around 8am Eastern Time, located at the top of every TAE page, and in more elaborate form, at bottom of the day’s essay; they are links to the things we ourselves read at a daily basis. The first article is a piece by Umair

Sep 122014
 September 12, 2014  Posted by at 8:07 pm Finance Tagged with: , , , ,  18 Responses »
Debt Rattle Sep 12 2014: The Fed Has A Big Surprise Waiting For You

Risdon Tillery Greenwich House day care, New York May 1944 The topic of potential interest rate hikes by central banks is no longer ever far from any serious mind interested in finance. Still, the consensus remains that it will take a while longer, it will take place in a very gradual fashion, and it will all be telegraphed through forward guidance to anyone who feels they have a need or a right to know. Sounds like complacency, doesn’t it? Now,

Sep 112014
 September 11, 2014  Posted by at 8:25 pm Finance Tagged with: , , , , ,  10 Responses »
Debt Rattle 9/11 2014: Shut Up George Soros

DPC Real Estate Exchange from Dime Bank building, Detroit 1918 Someone should shut up George Soros. The Financial Times offers him a podium because he’s rich, and if you’re rich, people today think you must be smart, and right, as well. We admire money, not brains; indeed, we confuse the two. George is not right. George is much more old than right. George writes a plea for the United Kingdom and the European Union that misses on just about every

Sep 102014
 September 10, 2014  Posted by at 9:06 pm Finance Tagged with: , , , , , , ,  3 Responses »
Debt Rattle Sep 10 2014: Crisis And Self-Determination

Harris & Ewing Texaco, Washington, DC 1920 What do you think the situation in Scotland would be like if an army acting on behalf of the London government had just killed thousands of Scots in Glasgow and Edinburgh over the past 6 months and destroyed their streets and homes and water and electricity grids, and if moreover that government had seized power after a violent coup and essentially been handpicked by Washington? If you’re awake a little, one of the

Sep 092014
 September 9, 2014  Posted by at 9:49 pm Finance Tagged with: , , , ,  14 Responses »
Debt Rattle Sep 9 2014: The Black Swan Of Scotland

Matson Photo Service Palmyra (Tadmur, Syria). The Turkish castle. Kala’at Ibn Na’an 1935 Got a mail from a friend in Scotland late last night that got me thinking. “Unfortunately, using Ireland as a model of fracture, we may start blowing up each other.” I’ve been reading a lot lately, in between all the other things, about Scotland, as should be obvious from my essay (Jim Kunstler tells me I can use that word) yesterday, Please Scotland, Blow Up The EU,

Sep 082014
 September 8, 2014  Posted by at 7:24 pm Finance Tagged with: , ,  11 Responses »
Debt Rattle Sep 8 2014: Please Scotland, Blow Up The EU

Esther Bubley Greyhound bus at Washington Court House, Ohio Sep 1943 You know they’re desperate when they play the royal card and announce a new baby on the way. Britain, and especially Downing Street 10, got a huge scare last week when a poll showed the Scottish independence movement is now favorite to win the September 18 referendum. It’s not entirely clear, but I don’t think Cameron and his crew would be able to stay on if Scotland secedes from

Sep 072014
 September 7, 2014  Posted by at 7:07 pm Finance Tagged with: , , , ,  2 Responses »
Debt Rattle Sep 7 2014: The Simple Truth About QE

Esther Bubley Greyhound garage, Pittsburgh, PA Sep 1943 There’s not a single day that we’re not treated to more smart treats about stimulus measures. Are they necessary, are they good, are they bad, who profits from them. It gets really long in the tooth. Today, former ECB head Trichet says unlimited stimulus ‘risks’ blowing bubbles. “Supplying unlimited amounts of liquidity at interest rates close to zero has “unintended counterproductive consequences.” No shit, assclown. Does Jean-Claude really mean to claim he