November 2014 - Page 2 of 6 - The Automatic Earth

Debt Rattle November 25 2014

Nov 252014

November 25, 2014 Posted by Raúl Ilargi Meijer at 10:47 am Finance Tagged with: BoJ, dismal, ECB, failure, Fed, GMO, hedge funds, middle class, oil, traumatized 3 Responses »

Taylor Deluxe Kauneel auto trailer, Bay City, Michigan May 1936 • “We Are Starting To Break Down”: Why So Many Americans Feel Traumatized (Salon) • Buy the All Time High (James Howard Kunstler) • The Dismal Economy: 148 Million Government Beneficiaries (Lance Roberts) • The Mystery Of America’s “Schrodinger” Middle Class (Zero Hedge) • Overvalued, Overbought, Overbullish, Extremely Vulnerable Markets (Hussman) • Canada Moving Toward American-Style Inequality (CTV) • Oil Seen Dropping Another $30 by ICAP on Commodity, Dollar Cycle

The 2014 Oil Price Crash Explained

Nov 242014

November 24, 2014 Posted by Raúl Ilargi Meijer at 2:33 pm Finance Tagged with: crash, demand, Euan Mearns, LTO, oil price, OPEC, Russia, Saudi, supply 7 Responses »

NPC Capitol Refining Co. plant, Relee, Alexandria County 1925 This is an article by our good friend Euan Mearns at the University of Aberdeen. It was originally published here . In February 2009 Phil Hart published on The Oil Drum a simple supply demand model that explained then the action in the oil price. In this post I update Phil’s model to July 2014 using monthly oil supply (crude+condensate) and price data from the Energy Information Agency (EIA). This model

Debt Rattle November 24 2014

Nov 242014

November 24, 2014 Posted by Raúl Ilargi Meijer at 12:02 pm Finance Tagged with: abnormal, bonds, central banks, currency wars, oil, OPEC, pope, poverty, rates, shadow banking, warming Comments Off

William Henry Jackson Hospital Street, St. Augustine, Florida 1897 • Global Business Confidence Plunges To Post-Crisis Low (CNBC) • Pope Francis Warns Greed Of Man Will ‘Destroy The World’ (Daily Mail) • Record Numbers Of UK Working Families In Poverty Due To Low-Paid Jobs (Guardian) • New Abnormal Means Relying on Central Banks for Growth (Bloomberg) • Why We Can’t Afford Another Financial Crisis (Guardian) • PBOC Bounce Seen Short Lived as History Defies Bulls (Bloomberg) • China Rate-Cut Likely

Where Is China On The Map Exactly?

Nov 232014

November 23, 2014 Posted by Raúl Ilargi Meijer at 8:42 pm Finance Tagged with: bankruptcy, China, control, Growth, Hendry, Roach, shadow banking, slowdown 5 Responses »

Arthur Siegel Bethlehem-Fairfield shipyards, Baltimore, MD May 1943 A lot of people these days vent their opinions on what’s happening with the Chinese economy, and the opinions are so all over the place they could hardly be more different. Which is interesting, to say the least. Apparently it’s still very hard to understand what does happen ‘over there’. And I don’t at all mean to suggest that I would know better than Morgan Stanley’s former Asia go-to-man Stephen Roach, or

Debt Rattle November 23 2014

Nov 232014

November 23, 2014 Posted by Raúl Ilargi Meijer at 11:30 am Finance Tagged with: Black Friday, central bankers, China, debt, deficit, food bank, holiday sales, oil, OPEC, rate cut Comments Off

Hans Behm Windy City tourists at Monroe Street near State 1908 • China’s Surprise Rate Cut Shows How Freaked Out The Government Is (Quartz) • The End of China’s Economic Miracle? (WSJ) • Hugh Hendry: “A Bet Against China Is A Bet Against Central Bank Omnipotence” (MW) • Central Banks in New Push to Prime Pump (WSJ) • Forget What Central Bankers Say: Deflation Is The Real Monster (Observer) • “I Am 100% Confident That Central Banks Are Buying S&P

Who’s Ready For $30 Oil?

Nov 222014

November 22, 2014 Posted by Raúl Ilargi Meijer at 9:31 pm Finance Tagged with: China, debt, junk bond, leverage, oil, OPEC, Russia, Shale, Venezuela 13 Responses »

Jack Delano Spectators at annual barrel rolling contest in Presque Isle, Maine Oct 1940 How low can and will oil prices go, and what will the effects of those prices be? I bet you’ll have a hard time finding even just two people who have the same opinion on that. Not that it’s merely a matter of opinion, mind you, there are a great number of real life factors that come into play. It’s not an easy game. OPEC gets

Debt Rattle November 22 2014

Nov 222014

November 22, 2014 Posted by Raúl Ilargi Meijer at 12:58 pm Finance Tagged with: BoE, buybacks, China, Fed, madmen, oil, pensions, Russia, Saudi, Segarra, yen 1 Response »

NPC Newsstand with Out-of-Town Papers, Washington DC 1925 • Cheap Oil May Be A Sign Of Bigger Problems (MarketWatch) • Drilling Slowdown on Sub-$80 Oil Creeps Into Biggest US Fields (Bloomberg) • Russia to Cooperate With Saudis on Oil, Avoiding Output Cuts (Bloomberg) • Sell, Sell, Sell .. The Central Bank Madmen Are Raging (David Stockman) • What Record Stock Buybacks Say About Economic Growth (Zero Hedge) • Is China Building a Mortgage Bomb? (Bloomberg) • ‘China’s Economy Is Slowing

Central Bankers, Fear and Other Bad Counselors

Nov 212014

November 21, 2014 Posted by Raúl Ilargi Meijer at 9:22 pm Finance Tagged with: central banks, Draghi, fear, fools, independent, Kuroda, virtual reality, Yellen 5 Responses »

Central Bankers, Fear and Other Bad Counselors

NPC US Navy photographers March 24, 1925 The original idea behind a central bank is that medium and longer term monetary policy should not be allowed to be held hostage by a short-term prevailing political wind, that an incumbent politician and his/her party should not be permitted and/or enabled to manipulate a nation’s currency for political gain. A central bank was (and still is officially) supposed to be independent of politics, to be a buffer between a society’s long term

Debt Rattle November 21 2014

Nov 212014

November 21, 2014 Posted by Raúl Ilargi Meijer at 12:47 pm Finance Tagged with: Abe, ABS, Banks, China, CO2, commodities, consumer debt, Draghi, emissions, Krugman, rhino 1 Response »

Russell Lee Hammond Ranch general store, Chicot, Arkansas Jan 1939 • Americans, With Record $3.2 Trillion Consumer Debt, Borrow More (Guardian) • How Wall Street Banks Traded Lending For Oil, Gas And Nukes (MarketWatch) • Citigroup Ejected From ECB FX Group for Rigging (Bloomberg) • China ‘Triple Bubble’ Points To Long Slide For Commodities (MarketWatch) • ECB Dips Toe Into Dead Sea Of Rebundled Debt (Reuters) • ECB’s Draghi: ‘Strong Recovery Unlikely’ (CNBC) • Draghi Says ECB Must Raise Inflation

Hugh Hendry And The Deflationary Zeitgeist

Nov 202014

November 20, 2014 Posted by Raúl Ilargi Meijer at 10:10 pm Finance Tagged with: god, hedge fund, homeless, Hugh Hendry, jobless, judgment, profits, Zero Hedge 9 Responses »

Hugh Hendry And The Deflationary Zeitgeist

Jack Delano Colored drivers entrance, U.S. 1, NY Avenue, Washington, DC Jun 1940 It’s funny how things roll at times. When I wrote yesterday’s Making Money While The World Burns, and quoted Hugh Hendry, one of my heroes – well, close, he’s not Ali, but I love the man for his brain -, I hesitated, but thought his words were a great way to start a discussion on what people do when faced with certain conundrums. I certainly never meant

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