May 2015 - Page 4 of 5 - The Automatic Earth

Debt Rattle May 11 2015

May 112015

May 11, 2015 Posted by Raúl Ilargi Meijer at 10:58 am Finance Tagged with: austerity, Cameron, creditors, debt, ECB, Greece, IMF, inequality, politics, racist, refugees, SNP 2 Responses »

Unknown Wharf, Federal artillery, and schooners, City Point, Virginia 1865 • ECB’s Nowotny: Greece Much More Political Than Economic Question (Reuters) • Greece’s ‘War Cabinet’ Prepares To Battle EU Creditors As Anger Mounts (AEP) • IMF and ECB Loom Large Over Greece’s Debt Talks (NY Times) • How The ECB Became The Real Villain Of Greece’s Debt Drama (Telegraph) • No Solution In Sight For Greek Crisis – Tsipras’ Impossible Dilemma (Guardian) • EU’s Unraveling Plans For Greek Debt Risks

Will Austerity Be the Straw that Breaks the EU AND the UK?

May 102015

May 10, 2015 Posted by Raúl Ilargi Meijer at 7:30 pm Finance Tagged with: austerity, Cameron, EU, Greece, referendum, SNP, Troika, UK 3 Responses »

Will Austerity Be the Straw that Breaks the EU AND the UK?

Jack Delano Worker inspecting locomotive, Proviso Yard 1942 From where we’re sitting, the biggest victory in the May 7 British election will turn out to be not that of the Conservatives, but of the SNP, the Scottish nationalists. The party took 56 out of 59 Scottish seats in the United Kingdom’s Westminster parliament in London (with just half of the total votes..). Perhaps even more significant is the increased divide between Scotland and ‘the rest of the UK’. While Cameron’s

Debt Rattle May 10 2015

May 102015

May 10, 2015 Posted by Raúl Ilargi Meijer at 12:15 pm Finance Tagged with: austerity, capitalism, Greece, inequality, pipeline, pundits, Putin, refugees, religion, UK, unipolar 3 Responses »

G. G. Bain Metropolitan Opera baritone Giuseppe De Luca, New York 1920 • Capitalism is the West’s Dominant Religion (Michael Welton) • Stiglitz: “You Will Have Stronger Growth If You Reduce Inequality” (WEF) • Critical Choices Loom Ahead Of Eurogroup Meeting, IMF Repayment (Kathimerini) • Greece Calls On EU/IMF Lenders To Show Political Will For Deal (Reuters) • Greek Leader Faces Revolt By Party Hardliners As Debt Showdown Looms (Guardian) • The Greek Debt Writedown And Merkel’s Role In It

Debt Rattle May 9 2015

May 092015

May 9, 2015 Posted by Raúl Ilargi Meijer at 11:07 am Finance Tagged with: Banks, betrayal, crash, deflation, democracy, jobs, pensions, spying, volatility 11 Responses »

Arthur Rothstein Steam shovels on flatcars, Cherokee County, Kansas 1936 • Wall Street Soars On Hopes Of Fed Reprieve, Yet Sting In The Tail (AEP) • Wall Street Is One Sick Puppy (David Stockman) • Currencies’ Wild Ride to Get Wilder as US Rate Rise Beckons (Bloomberg) • Low Productivity Alarms US Policy Makers (FT) • Countdown To The Stock-Market Crash Of 2016 Is Ticking Louder (Paul B. Farrell) • ‘Good’ Jobs Report? 15 Million Unemployed People Want To Work

Britain: A Functioning Democracy It’s Not

May 082015

May 8, 2015 Posted by Raúl Ilargi Meijer at 6:39 pm Finance Tagged with: Cameron, democracy, election, Farage, journalists, Milibland, press, spin doctors 9 Responses »

Britain: A Functioning Democracy It's Not

Jack Delano Long stairway in mill district of Pittsburgh, Pennsylvania 1940 We at the Automatic Earth always try to steer clear of elections as much as possible, because there are no functioning democracies left in the west -no more than there are functioning markets-, and no journalists reporting on them either. Interesting question, by the way: how can a journalist report on a democracy that isn’t there? And where in that setting does news turn to mere opinion, and where

Debt Rattle May 8 2015

May 082015

May 8, 2015 Posted by Raúl Ilargi Meijer at 11:11 am Finance Tagged with: bonds, climate denial, consumer credit, Greece, Merkel, sell-off, slavery, stocks, yields Comments Off

Gottscho-Schleisner New York City views. Looking down South Street 1933 • Why Are Stock Prices So High? Borrowed Money (MarketWatch) • Break Up Big Banks (Senator Bernie Sanders) • Violent Bond Moves Signal Tectonic Shifts In Global Markets (AEP) • Bond Yields, Not Political Fallout, Should Be Worrying Us Now (Independent) • Rising European Yields Are A Worry For US Stocks (CNBC) • Stocks May Find It Tough To Wiggle Out Of The Bond-Market Mess (MarketWatch) • The Great German

Resilience is The New Black

May 082015

May 8, 2015 Posted by Raúl Ilargi Meijer at 7:50 am Finance Tagged with: Baltimore, change, crisis, earthquake, proactive, resilience, sustainability, TPP 8 Responses »

Harris&Ewing Happy News Cafe, “restaurant for the unemployed”, Washington, DC 1937 This is another essay from our friend Dr. Nelson Lebo III in New Zealand. Nelson is a certified expert in everything to do with resilience, especially how to build a home and a community designed to withstand disasters, be they natural or man-made, an earthquake or Baltimore. Aware that he may rub quite a few people the wrong way, he explains here why he has shifted from seeing what

Debt Rattle May 7 2015

May 072015

May 7, 2015 Posted by Raúl Ilargi Meijer at 9:55 am Finance Tagged with: bees, Greece, liquidity, reforms, steel, TPP, TTIP, UK, valuations, working poor 2 Responses »

Unknown General Patrick’s headquarters, City Point, Virginia 1865 • 21 Countries Where a 40-Hour Work Week Still Keeps Families Poor (Bloomberg) • Central Bank Driven ‘Markets’ Have Nothing To Do With Economics (Stockman) • Yellen Says Stock Valuations Are ‘Quite High’ (MarketWatch) • El-Erian Warns Of Trouble As Bond Liquidity Dries Up (MarketWatch) • There Will Be No 25-Year Depression (Bill Bonner) • More Pain Ahead For China Steel (CNBC) • Brexit Threat Looms Over Britain’s Election And Europe’s Fate

German Greens Propose Radical Greek Debt Solution

May 062015

May 6, 2015 Posted by Raúl Ilargi Meijer at 11:22 am Finance Tagged with: austerity, debt servicing, Germany, Greece, Green Party, interest, loans 5 Responses »

German Greens Propose Radical Greek Debt Solution

NPC Graf Zeppelin over Capitol 1928 In its German language edition, Der Spiegel ran a piece last night (translation is mine) about a proposal from the German Green Party (Die Grünen) to deal with the Greek debt crisis that is radically different from how its own government has so far approached the situation. The Greens are not in the Berlin government, but they are a force in German politics regardless, if only because the country loves so much to portray

Debt Rattle May 6 2015

May 062015

May 6, 2015 Posted by Raúl Ilargi Meijer at 9:44 am Finance Tagged with: American Dream, austerity, China, credit score, drought, food, Russia, Social Security, trade deficit, TTP 2 Responses »

Jack Delano Foggy night in New Bedford, Massachusetts 1941 • Death Of The American Dream As A Big Bubble Readies To Pop (MarketWatch) • US Trade Deficit Soars To Worst Since 2008; Q1 GDP To Be Negative (Zero Hedge) • 3 Out Of 4 US Retirees Receive Reduced Social Security Benefits (MarketWatch) • One In Five US Adults Have No Credit Score, Can’t Borrow Money (MarketWatch) • California’s Drought Could Upend America’s Entire Food System (ThinkProgress) • Steve Keen Explains

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