September 2015 - The Automatic Earth

Debt Rattle September 30 2015

Sep 302015

September 30, 2015 Posted by Raúl Ilargi Meijer at 8:26 am Finance Tagged with: central banks, China, default, democracy, EM, emissions, equities, IMF, mandate, refugees, VW Comments Off

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FacebookGoogle+TwitterLinkedinemail Marjory Collins 3rd shift defense workers, midnight, Baltimore April 1943 • Equities On Course For Worst Quarter Since 2011 (FT) • September 30 Is Historically Worst Day Of The Year For Investors (MarketWatch) • ‘Cold Fusion’ Is Citi’s Answer to Fading Central Bank Firepower (Bloomberg) • Loss Of Traction Puts Central Bank Mandates Under Scrutiny (Reuters) • Two Very Disturbing Forecasts By A Former Chinese Central Banker (Zero Hedge) • Jim Chanos on China: The Emperor is In His

Debt Rattle September 29 2015

Sep 292015

September 29, 2015 Posted by Raúl Ilargi Meijer at 8:46 am Finance Tagged with: commodities, crisis, Glencore, Jamaica, Obama, oil, Putin, refugees, sanctuary, Saudi, stocks, UN, VW

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FacebookGoogle+TwitterLinkedinemail Gottscho-Schleisner L Motors at 175th Street and Broadway, NYC 1948 center> • Commodity Rout Beginning to Look Like a Full-Blown Crisis (Bloomberg) • Glencore Shares Obliterated After Analysts Warn They Could Be Worthless (Tel.) • Is Glencore Worth $26 Billion Or $98 Billion? Analysts Can’t Decide (Bloomberg) • Global Stocks Set to Fall As $800 Billion Wipeout Boosts Yen, Bonds (Bloomberg) • Three Major Trends that Shaped Global Economy for Decades Set to Change (BBG) • Big Oil Faces

Debt Rattle September 28 2015

Sep 282015

September 28, 2015 Posted by Raúl Ilargi Meijer at 8:21 am Finance Tagged with: arctic, bonds, cash, Catalan, China, coal, debt, oil, refugees, Shell, VW

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FacebookGoogle+TwitterLinkedinemail John Vachon Koolmotor, Cleveland, Ohio May 1938 • Cash Beats Stocks And Bonds For First Time In 25 Years (MarketWatch) • US Bonds Flash Warning Sign (WSJ) • Waiting for Collapse: USA Debt Bombs Bursting (Edstrom) • China August Industrial Profits Fall 8.8% From A Year Earlier (Reuters) • Chinese Mining Group Longmay To Cut 100,000 Coal Jobs (China Daily) • VW Proves That Global Business Has Become A Law Unto Itself (Guardian) • Seven Reasons Volkswagen Is Worse

Greater Fools and Bigger Liars

Sep 272015

September 27, 2015 Posted by Raúl Ilargi Meijer at 5:15 pm Finance Tagged with: Boehner, lies, Merkel, morals, pope, refugees, societies, visionaries, VW, war

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FacebookGoogle+TwitterLinkedinemail Harris&Ewing The Capitol in the snow 1917 Societies in decline have no use for visionaries – Anaïs Nin The moment we heard that John Boehner would resign, the first thing that came to mind was: the next one will be a Greater Fool and a Bigger Liar. For all of his obvious faultlines, Boehner is human. As was evident for all to see Thursday when the Pope -Boehner’s as Catholic as JFK and Jesus Christ- came to see ‘him’

Debt Rattle September 27 2015

Sep 272015

September 27, 2015 Posted by Raúl Ilargi Meijer at 10:16 am Finance Tagged with: BofA, cold blob, Fraud, Germany, greenwashing, housing, North Atlantic, refugees, UK, VW

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FacebookGoogle+TwitterLinkedinemail John Collier Workmen at emergency office construction job, Washington, DC Dec 1941 • As Very “Grim” Earnings Season Unfolds, All Eyes Will Be On Bank of America (ZH) • Monetary Stimulus Doesn’t Work The Way You Think It Does, Redux (FT) • Britain Has One Booming Market That Could Do With A Crash (Economist) • Forty Years Of Greenwashing – The Well-Travelled Road Taken By VW (Bloomberg) • Volkswagen Scandal: The Cost Of A Car Crash Like No Other

Debt Rattle September 26 2015

Sep 262015

September 26, 2015 Posted by Raúl Ilargi Meijer at 9:27 am Finance Tagged with: Boehner, diesel, EM, GCHQ, industrial farming, refugees, Shale, swaps, VW, warships

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FacebookGoogle+TwitterLinkedinemail Russell Lee Dillon, Montana, trading center for prosperous cattle and sheep country 1942 • VW’s Systematic Fraud Threatens To Engulf The Entire Industry (Economist) • Volkswagen Scandal Spreads Throughout Europe’s Credit Markets (Bloomberg) • EU Warned On Devices At Centre Of VW Scandal Two Years Ago (FT) • VW Bungles Restart With New CEO From Old Guard (Reuters) • More Volkswagen Engines May Be Implicated, German Minister Says (Bloomberg) • Did -Political- Privilege Enable Volkswagen’s Diesel Deception? (Bloomberg) •

Debt Rattle September 25 2015

Sep 252015

September 25, 2015 Posted by Raúl Ilargi Meijer at 8:41 am Finance Tagged with: Abenomics, Caterpillar, China, emissions, EU, Merkel, mining, oil, QE, refugees, VW, Yellen

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FacebookGoogle+TwitterLinkedinemail DPC Bromfield Street in Boston 1908 • The “QE Infinity Paradox”, Or “The Emperor Is Naked, Long Live The Emperor” (ZH) • Yellen Expects Fed To Raise Interest Rates By End Of Year (Guardian) • Caterpillar, Crunched By Commodities Collapse, To Slash 10,000 Jobs (Forbes) • The Stock Markets Of The 10 Largest Global Economies Are All Crashing (Snyder) • Sweden’s Top Economist Puts China’s GDP Growth At 3% (Forbes) • China Becomes Asia’s Biggest Securitization Market (WSJ) •

Debt Rattle September 24 2015

Sep 242015

September 24, 2015 Posted by Raúl Ilargi Meijer at 8:02 am Finance Tagged with: carmakers, China, deflation, diesel, downsizing, emissions, EU, lobby, refugees, VW

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FacebookGoogle+TwitterLinkedinemail David Myers Theatre on 9th Street. Washington, DC July 1939 • EU Refugee Summit In Disarray, Greatest Refugee Tide ‘Yet To Come’ (Guardian) • China Consumers Tighten Belts, A Red Flag For The Global Economy (Reuters) • China Prosecutor To Intensify Financial Markets Crackdown (Reuters) • China Is Sitting on an Ocean of Diesel Fuel (Bloomberg) • Bill Gross: “Mainstream America Is Being Slowly Cooked Alive” (Zero Hedge) • Deflation Supercycle Is Over As World Runs Out Of Workers

Europe’s Refugees Are A Global Crisis

Sep 232015

September 23, 2015 Posted by Raúl Ilargi Meijer at 2:24 pm Finance Tagged with: blood, EU, Europe, humanity, Merkel, pope, refugees, UN, US

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FacebookGoogle+TwitterLinkedinemail Dorothea Lange Depression refugee family from Tulsa, Oklahoma 1936 At the moment I start writing this, leaders of European nations are in a meeting in which they talk about refugees that, though it was announced over a week ago, was nevertheless labeled an ’emergency’ meeting. The only thing that truly tells you is that Europe still refuses to see the refugee situation as an emergency. And that’s not just semantics. Of course there’ll be all sorts of bickering about

Debt Rattle September 23 2015

Sep 232015

September 23, 2015 Posted by Raúl Ilargi Meijer at 8:54 am Finance Tagged with: China, defeat device, dinosaur, emissions, farmland, Hungary, PMI, quota, refugees, shadow banks, VW

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FacebookGoogle+TwitterLinkedinemail Arthur Rothstein President Roosevelt tours drought area near Bismarck, ND 1936 • Signs Point To Deepening China Distress (FT) • Shadow Finance Expansion by Chinese Banks Deepens Credit Mystery (Bloomberg) • China Flash PMI Falls To Lowest Since May 2009 (CNBC) • China’s Workers Stumble as Factories Stall (WSJ) • Xi Jinping Defends China Stock Market Interventions On First US Visit (Guardian) • China Has A Message Markets Don’t Understand (CNBC) • VW Scandal Caused Nearly 1 Million Tonnes