February 2015 - The Automatic Earth

Debt Rattle February 28 2015

Feb 282015

February 28, 2015 Posted by Raúl Ilargi Meijer at 11:38 am Finance Tagged with: bankrupt, China, ECB, homeland security, Nemtsov, student loans, UAE, Varoufakis 4 Responses »

DPC Yard of tenement, Manhattan, New York City 1900 • Greece Seeks Negotiations On ECB Bond Repayment (Reuters) • Fed Won’t Be Predictable After Lifting Rates, Fischer Says (MarketWatch) • “Monetary Policy Is Bankrupt” Dr. Lacy Hunt Warns (Tavares via Zero Hedge) • Greek PM Alexis Tsipras Rules Out Third Bailout (BBC) • A Fierce Battle Looms (Alexis Papachelas via Kathimerini) • The Tortured Relationship between Schäuble and Varoufakis (Spiegel) • Homeland Security Shutdown Looms After House Fails To Approve

When Centralization Scales Beyond Our Control

Feb 282015

February 28, 2015 Posted by Raúl Ilargi Meijer at 9:11 am Finance Tagged with: centralization, EU, Frankenstein, hospital, IMF, institutionalization, Ivan Illich, NATO, Ron Paul, university 14 Responses »

When Centralization Scales Beyond Our Control

Fenno Jacobs Schoolchildren staging a patriotic demonstration, Southington, CT 1942 In an article about NATO exercises in Estonia, just 300 yards from the Russian border, Daniel McAdams at the Ron Paul Institute makes a point that I want to use to make a much broader point. Not the provide answers, though, just to provide questions. McAdams quotes the Guardian review of a book by George Sakwa: NATO’s Russia Border Games Russian military plane over international waters 25 miles from the

Debt Rattle February 27 2015

Feb 272015

February 27, 2015 Posted by Raúl Ilargi Meijer at 10:29 am Finance Tagged with: Albert Edwards, black hole, black site, China, enemy, IMF, oil, Putin, Syriza 3 Responses »

William Henry Jackson Portales of the market of San Marcos, Aguascalientes, Mexico 1890 • The US Recovery Story Is A Fraud: Albert Edwards (CNBC) • The US Is Not As Strong As You Think: Jim O’Neill (CNBC) • Québec Caisse’s Sabia Says Stock Markets Will ‘Run Out of Gas’ (Bloomberg) • Only One-Quarter Of Americans Plan To Retire (MarketWatch) • Americans No Longer Regard China As Top Enemy (CNBC) • Oil Futures Down Sharply On Rising US Inventories (Reuters) •

Debt Rattle February 26 2015

Feb 262015

February 26, 2015 Posted by Raúl Ilargi Meijer at 11:11 am Finance Tagged with: $20 oil, Apple, China, Cisco, class war, deflation, Fed, god, life, Naomi Klein, Varoufakis, Yellen 2 Responses »

Edward Meyer School victory garden on First Avenue New York 1944 • Oil Headed For $20-$30 As US Runs Out Of Storage Capacity (CNBC) • Yellen Fights Back as Lawmakers Intensify Push to Rein in Fed (Bloomberg) • Greece vs. Europe: Who Won? (Bloomberg) • Varoufakis Says Funding Problem Lies Ahead (Kathimerini) • Varoufakis Counts On ECB to Avoid Greek Default in March (Bloomberg) • European Banks vs. Greek Labour: Michael Hudson (TRNN) • Former Greek Finance Minister In Court

Briefing For A Descent Into Hell

Feb 262015

February 26, 2015 Posted by Raúl Ilargi Meijer at 8:12 am Finance Tagged with: central bank, ECB, Greece, hell, IMF, Poroshenko, Ukraine, Varoufakis, Yatsenyuk 2 Responses »

Ben Shahn “Scene in Jackson Square, New Orleans” 1935 Oh well, some are more equal than others. One day after Eurogroup head Dijsselbloem says France won’t get any more lenience … France Must Respect EU Budget Rules France must meet EU budget targets or risk damaging the bloc’s entire framework for policing countries’ spending plans, the head of the Eurogroup said on Tuesday. “I don’t think small or larger countries should be treated differently … It is crucial for the

Debt Rattle February 25 2015

Feb 252015

February 25, 2015 Posted by Raúl Ilargi Meijer at 10:09 am Finance Tagged with: Cameron, Eurogroup, Gazprom, Greece, Lester Brown, sex toy, Snowden, Ukraine, Yellen 5 Responses »

Wyland Stanley “J.A. Herzog Pontiac, 17th & Valencia Sts., San Francisco.” 1936 • Yellen Removes Another Obstacle To An Eventual Rate Hike (MarketWatch) • US Government’s ‘New Rule’ Allows Banks To Completely Make Sh#t Up (Simon Black) • Greek Finance Chief: We Want To Regain EU’s Trust (CNBC) • Greek Finance Minister’s Full Letter To The Eurogroup (Kathimerini) • Greece Has Lost The Gamble But Can Still Come Up Trumps (Guardian) • How Addiction To Debt Came Even To China

How Far Is It From Kiev To Athens?

Feb 252015

February 25, 2015 Posted by Raúl Ilargi Meijer at 3:18 am Finance Tagged with: Athens, Cameron, EU, Greece, IMF, Kiev, NATO, Poroshenko, Ukraine, US, war, weapons, Yatsenyuk 8 Responses »

Gordon Parks “New York, New York. Scene in Harlem area.” 1943 Riddle me this, Batman. I don’t think I get it, and I definitely don’t get why nobody is asking any questions. The IMF and EU make a lot of noise – through the Eurogroup – about all the conditions Greece has to address to get even a mild extension of support, while the same IMF and EU keep on handing out cash to Ukraine without as much as a

Debt Rattle February 24 2015

Feb 242015

February 24, 2015 Posted by Raúl Ilargi Meijer at 1:23 pm Finance Tagged with: Apple, Greece, Putin, reform, Ron Paul, Shale, Ukraine, war, Yellen 5 Responses »

Russell Lee Washington DC, “Cafe on L Street.” 1938 • Will Yellen Set The Dollar Free? (CNBC) • European Commission Backs Greek Reform Proposals (WSJ) • Greek Plan to Tackle Economy Goes Before Finance Chiefs (Bloomberg) • Greece ‘Delays Reform Plan Deadline’ (BBC) • ‘It’s Treason!’ Greek Anger At Government U-Turn (CNBC) • Interventionism Kills: Post-Coup Ukraine One Year Later (Ron Paul) • Why the World Is So Bad at Tracking Dirty Money (Bloomberg) • Medicines To Cost Taxpayers Millions

Debt Rattle February 23 2015

Feb 232015

February 23, 2015 Posted by Raúl Ilargi Meijer at 4:15 pm Finance Tagged with: bonds, Germany, Greece, oligarchs, Sikh, tax evasion, virtual currency 9 Responses »

DPC “Ice fountain on Washington Boulevard, Detroit” 1906 • 1 In 3 Americans On Verge Of Financial Ruin (MarketWatch) • BofA Leads Charge Into Bonds as Banks Hoard $2 Trillion (Bloomberg) • Can A Bitcoin-Style Virtual Currency Solve The Greek Financial Crisis? (Guardian) • Greece Debt Deal: Reforms Will ‘Combat Tax Evasion’ (BBC) • Greece Draws Up €7.3 Billion Tax Hit List Aimed At Oligarchs And Criminals (AFP) • Greece Scrambles To Finalise Fiscal Reform List (Guardian) • Who Made

Throw Your Grandma Under The Bus

Feb 232015

February 23, 2015 Posted by Raúl Ilargi Meijer at 7:22 am Finance Tagged with: Deutsche Bank, gambling addicts, grandma, Greece, Merkel, perversity, Wall Street 7 Responses »

Dorothea Lange “Men on ‘Skid Row’, Modesto, California” 1937 Before we get news in a few hours on the new proposals Greece is required to hand to its slavemasters today, Monday Feb 23, it seems relevant to point out one more time that what is happening to Greece is the result of political, not economic, decisions and points of view. One could argue that Greece is being thrown under the bus because it’s not – yet – deeply enough entangled

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