The Automatic Earth

Dijsselbloem Must Go, But That Solves Nothing

Mar 222017

March 22, 2017 Posted by Raúl Ilargi Meijer at 1:34 pm Finance Tagged with: bigot, Dijsselbloem, drinks, EU, fatal flaw, misogynism, racism, Schäuble, women 3 Responses »

Dijsselbloem Must Go, But That Solves Nothing

Salvador Dali Girl At The Window 1925 If Southern Europeans were a race, say there were something like a Mediterranean race, Jeroen Dijsselbloem would definitely be a racist. Since there is not, the -demissionary- Dutch Finance Minister and -still- president of the Eurogroup of eurozone finance ministers, escapes the label, albeit narrowly. He will still enter history as a misogynist, though. It’s hard to tell if the man is simply really ‘thick’, or there’s something else going on, but

Debt Rattle March 22 2017

Mar 222017

March 22, 2017 Posted by Raúl Ilargi Meijer at 9:00 am Finance Tagged with: cities, Dijsselbloem, Fed, Greece, mail bomb, refugees, river, trees, Turkey 4 Responses »

Ray K. Metzker Philadelphia 1963 • Vancouver Won’t Have A Middle Class Left In The Future (CBC) • Nomi Prins: Financial System Worse Now Than 2007 (EIR) • Kashkari: “A Market Drop Is Unlikely To Trigger A Crisis” (ZH) • Dijsselbloem Says Southern Europe Blew Cash On ‘Drinks And Women’ (Tel.) • Dijsselbloem Not Fit To Be Eurogroup President – Socialist MEP Leader (Pol.) • Dijsselbloem ‘Mail Bomb Target’ (AFP) • Greece Won’t Last In Eurozone In Long Run,

Debt Rattle March 21 2017

Mar 212017

March 21, 2017 Posted by Raúl Ilargi Meijer at 9:04 am Finance Tagged with: buybacks, Canada, equilibrium, Greece, housing bubble, laundromat, loneliness, refugees, Trump, upheaval 10 Responses »

Fred Stein Streetcrossing, Paris 1935 • To Make America Great Again, Trump Will Have To Make the Dollar Weak Again (MW) • The Fed Gave Trump Just Enough Rope To Hang Himself With – Deutsche (ZH) • S&P 500 Companies Blow $1.7 Trillion On Making Earnings Look Less Bad (WS) • US “Too Big To Fail” Banks Top $1 Trillion – What Happens Next? (ZH) • Australia’s Central Bank Warns Of Growing Risks In Housing, Debt (CNBC) • Australia

Debt Rattle March 20 2017

Mar 202017

March 20, 2017 Posted by Raúl Ilargi Meijer at 8:26 am Finance Tagged with: Auschwitz, Dijsselbloem, Erdogan, Greece, housing bubble, nazi, oil, refugees, shell game 4 Responses »

Janine Niepce Paris ca. 1950 • The Central Bank Shell Game (WS) • Using Superannuation For Deposit ‘Irresponsible’ – Keating (Nine) • Chinese Home Prices “Unexpectedly” Rebound (ZH) • The Fed’s Global Dollar Problem (BBG) • Oil Drops On Rising Us Drilling, Failing OPEC Cuts (R.) • Smile For The Auschwitz Selfie: Why Holocaust Memorials Have Failed (NS) • Spy Comments Proof Germany Supports Group Behind Attempted Coup: Erdogan (R.) • Erdogan Accused Merkel Of Using Nazi Methods (DW)

Debt Rattle March 19 2017

Mar 192017

March 19, 2017 Posted by Raúl Ilargi Meijer at 9:35 am Finance Tagged with: detention, Greece, Kurds, land tax, Merkel, refugees, stamp duty, Turkey, Yellen Comments Off

DPC Broadway from Chambers Street, NYC 1910 • More Proof of Janet Yellen’s Idiocy (David Stockman) • How The Bosses ‘Game’ Workers (Moore) • Oz Parliamentary Budget Office Costs Plan To Kill Off Stamp Duty (SMH) • Russian Parliament Backs Investigation Into US Media (R.) • German Foreign Minister: Turkey Further Away From EU Membership Than Ever (R.) • Turkey Furious As Kurds Rally In Frankfurt With PKK Insignia (AFP) • Fear Stalks Refugees Huddled Along Hungary’s Border (G.)

Debt Rattle March 18 2017

Mar 182017

March 18, 2017 Posted by Raúl Ilargi Meijer at 9:04 am Finance Tagged with: Aegean, bad bank, collusion, Hillary, laptop, paranoid, refugees, Russia, Trump, Turkey 11 Responses »

Andreas Feininger Production B-17 heavy bomber at Boeing plant, Seattle 1942 • How Bankers Became The Top Exploiters Of The Economy (Michael Hudson) • World Out Of Whack: What’s Next For Global Real Estate? (CE) • Make Big Banks Put 20% Down—Just Like Home Buyers Do (Kashkari) • Deepening EU Banking Crisis Meets Euro-TARP on Angel Dust (DQ) • The Paranoid Attempts To Tie Trump To Russia (Qz) • Clinton Ally Says Smoke, But No Fire: No Russia-Trump Collusion

Debt Rattle March 17 2017

Mar 172017

March 17, 2017 Posted by Raúl Ilargi Meijer at 8:54 am Finance Tagged with: Dijsselbloem, globalization, Greece, IMF, immigration, pensions, refugees, Soros, Trump 1 Response »

DPC Wall Street and Trinity Church, New York 1903 • California Judge Seeks To Prevent Immigration Arrests Inside State Courts (R.) • Collapsing Pensions Will Fuel America’s Next Financial Crisis (MW) • Statoil CEO Warns of Globalization ‘In Reverse’ (BBG) • Treasury’s Mnuchin Says Trump Does Not Want Trade Wars (R.) • Would Trump Budget Cut Meals On Wheels Funding? (BI) • Dutch Election Puts Question Mark Over Eurogroup Chief Dijsselbloem (R.) • Congressman Huizenga Introduces Bill to Oppose

Winners are Losers and Left is Right

Mar 162017

March 16, 2017 Posted by Raúl Ilargi Meijer at 2:53 pm Finance Tagged with: Brexit, Fillon, Le Pen, Macron, Orwell, Rutte, Trump, Wilders 9 Responses »

Marc Riboud Sur les Quais de Paris 1953 The Dutch elections on Wednesday have provided a whole bunch of Orwellian narratives. PM Mark Rutte’s right wing VVD party, actually the ‘business’ -or should we say ‘rent-seekers’ in 2017- party, who lost some 20% of the seats they had obtained in the previous parliamentary election in November 2012, down from 41 to 33 seats, is declared the big winner. While Geert Wilders’ very right wing party, PVV, won 25% more

Debt Rattle March 16 2017

Mar 162017

March 16, 2017 Posted by Raúl Ilargi Meijer at 9:16 am Finance Tagged with: Amazon, ban, cuts, debt ceiling, rate hike, recession, river, Trump, Turkey, Wilders, Yellen Comments Off

Arthur Rothstein “Quack doctor, Pittsburgh, Pennsylvania” 1938 • Hawaii Judge Halts Trump’s New Travel Ban Before It Can Go Into Effect (R.) • Trump Proposes Historic Cuts Across Government to Fund Defense (BBG) • Janet Yellen Explains Why She Hiked In A 0.9% GDP Quarter (ZH) • Fed Rate Hikes + Low Growth = Recession (MW) • How The Fed Rate Hike Will Impact Millions Of Americans (MW) • How Global Central Banks Have Set Interest Rates Since 2008

Austerity Kills. And Then Some.

Mar 152017

March 15, 2017 Posted by Raúl Ilargi Meijer at 2:29 pm Finance Tagged with: austerity, bloodletting, crisis, debt, economists, EU, Greece, Hudson, Pettifor, spending, surplus, warfare 14 Responses »

Otto Dix The Triumph of Death 1934 Yes, austerity really kills real people, and it kills the societies they live in. Let’s try and explain this in simple terms. It’s a simple topic after all. Austerity is a mere left-over from faith-based policies derived from shoddy economics, and economics is a shoddy field to begin with. The austerity imposed on and in several countries and their economies after 2008, and the consequences it has had in these economies, cannot

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