Debt Rattle September 9 2015

[earlmardle]

Good god,. what are these people thinking? Fucking HOBBITS? The same factors that have driven down our dairy prices are sucking the blood from the tourism business as well. Not only is China our biggest dairy market, it is our biggest TOURIST market as well. If they can’t afford our milk they sure as hell can’t afford to holiday here. Holy crap we are in the hands of dolts and morons.

BTW, our fabulously smart dairy giant Fonterra managed to push up the price of dairy products at the last auction. By withholding product from the market. In the same paper a couple of days later came the story that, while farmers are starting to cull stock, production is still rising, presumably because the projects in the pipeline that started out when prices were sky-high are still coming on stream, counteracting any reduction by anyone else.

And withholding product is SUCH a smart idea, nothing like building up a backlog that costs you to store while you wait for the Godot of returning prosperity to bring back the gravy train.

Idiots all. And we no less for not dragging them into the street, dipping them in cowshit and feathers and riding them out of town on a rail. Actually, hold the cowshit and feathers, at least I can do something productive with those.

[Raleigh]

Mish wrote a post entitled “Plotting the Number of Banks: Is the Goal One “TBTF” Bank?” Total number of U.S. banks in 1990 = 15,158. Total number of U.S. banks in 2015 = 6,315. Just over one-third left.

https://globaleconomicanalysis.blogspot.ca/2015/09/plotting-number-of-banks-is-goal-one.html

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