Debt Rattle May 1 2015

[Raúl Ilargi Meijer]

Lewis Hine A heavy load for an old woman. Lafayette Street below Astor Place, NYC 1912 • Japan Is Bust: “More QE – Everywhere!” (Albert Edwards) • Mar
[See the full post at: Debt Rattle May 1 2015]

[Raleigh]

A documentary I watched on water mentioned that the earth has experienced 10 ice ages (using evidence from ice cores), and in between these long ice ages have been periods of warming (we’re living through one of them). Apparently it gets hotter before it gets cold, much hotter. So a lot of this global warming could be just earth going through its climate cycle (and nothing we can do about it), BUT we have got to be helping it along with our behavior too.

Maybe we won’t be needing our ovens and stovetops in the future, just a big flat rock out in the backyard to fry our eggs on. Want toast? Hang it on your clothesline for a few minutes. No need for winter coats; it’s back to loincloths for us! Better get your bodies in shape. TV and internet? We’ll be too busy making bread, picking berries, sharpening spears and fetching water to care about it.

[John Day]

If I have this right, Chinese banking is so big and growing so fast that it will take over the world, just as it collapses from such vast accumulation of leveraged bad loans, which funded ghost cities, roads to nowhere, and graft. The reduction of reserve ratios somehow makes this all better and worse simultaneously.
Is that close?

[rapier]

On the poor US banks as told by that Bove guy. Total loans and leases by US banks are now about 13% above the 08 peak and 22% above the low point in early 2010, standing now at $8.25Tn. Banks are lending hand over fist and credit is expanding at very fast rate. This sob story about the poor US banks by comparing them to Chinese insanity as a reason to scale back ‘regulation’ doesn’t belong here. The credit bubble is alive and sick as ever.

[Nassim]

Both the Church of England and the Catholic Church seem to have it in for fossil fuels. I guess the sort of people who had it in for Galileo know best.

[Author]

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