The Automatic Earth

Debt Rattle November 25 2016

Nov 252016

November 25, 2016 Posted by Raúl Ilargi Meijer at 9:53 am Finance Tagged with: debt, deficits, deflation, Erdogan, Lesbos, Merkel, OPEC, refugees, Russia, WMP 10 Responses »

Robert Capa Anti-fascist militia women at Barcelona street barricade 1936 • America’s Trade Advantage: Large Deficits (Pettis) • All Aboard Post-TPP World (Escobar) • The Bank of Japan Can’t Keep Stores From Cutting Prices (BBG) • China Banking Regulator Wrestles With $2.9 Trillion Off-Balance Sheet WMPs (R.) • China Central Bank Warns Against Outflows Disguised As Investment (R.) • ECB Says It Can Shield Eurozone From Global Finance Instability (BBG) • The Snowball of Debt (HowMuch/VC) • Russia to OPEC:

Debt Rattle November 24 2016

Nov 242016

November 24, 2016 Posted by Raúl Ilargi Meijer at 9:49 am Finance Tagged with: austerity, Brexit, bubble, China, fake, Greece, IMF, rates, recount, RT, Trump, WTO 2 Responses »

Kennedy and Johnson Morning of Nov 22 1963 • Another Election Year, Another Bunch Of Fake Growth Numbers (John Rubino) • China Vows To Defend Trade Rights In Face Of Trump Tariff Threats (R.) • IMF: Chinese Banks Disguise A Massive Amount Of Bad Debt (BI) • The ‘Ownership Society’ Came And Went – A Long Time Ago (MW) • How (Slightly) Higher Mortgage Rates Maul Housing Bubble 2 (WS) • ‘Brexit Will Blow £59 Billion Hole In UK Public

Trump Moves as America Stands Still

Nov 232016

November 23, 2016 Posted by Raúl Ilargi Meijer at 4:24 pm Finance Tagged with: Bernie, dynasty, Gabbard, Hillary, media, Obama, racist, Trump 11 Responses »

W. Eugene Smith Orson Welles 1942 Ever since the November 8 election, it’s been hard to write anything that makes actual sense, as evidenced by just about everything I’ve read in the past two weeks, little of which was particularly elevating, because just like before the vote, and just like in pre- and post-Brexit Britain, all there is left in the US are deeply dug-in heels. Everything and everyone is standing still; dug-in heels do that for you. Problem

Debt Rattle November 23 2016

Nov 232016

November 23, 2016 Posted by Raúl Ilargi Meijer at 9:45 am Finance Tagged with: buffers, Dow, Economics, Erdogan, EU, Greece, IMF, Renzi, sea ice, Trump, wealth 2 Responses »

Cyclone, Oklahoma, 1898 • Dow 19,000 Is No Cause For Celebration (MW) • Global Wealth Update: 0.7% Of Adults Control $116.6 Trillion In Wealth (ZH) • We Could Be In A ‘Lost Decade’ Of Global Wealth Growth (CNBC) • Willing To Oppose Trump, Some Senate Republicans Gain Leverage (R.) • EU Draft Plan Eyes New Bank Creditor Class To Bear Losses (R.) • Economists Need To Get Into The Real World, Says BOE’s Haldane (Tel.) • Of Dunces, Fools, Drones

Debt Rattle November 22 2016

Nov 222016

November 22, 2016 Posted by Raúl Ilargi Meijer at 9:08 am Finance Tagged with: Blair, Brexit, extinct, Farage, free trade, JFK, Le Pen, Merkel, Snowden, TPP, Trump 1 Response »

Library of Congress Crowds of people waving at President Kennedy’s motorcade, Dallas, Texas Nov. 22 1963 • Donald Trump To Withdraw From TPP On First Day In Office (G.) • Fed Should Allow “Elephant Size Quantitative Eurodollar Easing” (BBG) • China May Have To Float The Yuan If Tighter Capital Controls Fail (BBG) • Eurozone Nations Turn To Hedge Funds To Meet Borrowing Needs (R.) • Goldman: How Corporations Will Spend Their Huge Piles of Overseas Cash (BBG) • Why

Obstacles to Trump’s ‘Growth’ Plans

Nov 212016

November 21, 2016 Posted by Raúl Ilargi Meijer at 4:45 pm Finance Tagged with: complexity, crisis, Crooke, debt, globalization, Growth, infrastructure, Putin, spending, Trump, Xi 7 Responses »

Theodor Horydczak “Dome of US Capitol through trees at night” 1943 For the second time in a few weeks (see ‘End of Growth’ Sparks Wide Discontent), former British diplomat Alastair Crooke quotes me extensively, and I gladly return the favor. Crooke here attempts to list -some of- the difficulties Donald Trump will face in executing the -economic- measures he promised to take in his campaign. Crooke argues that, as I’ve indicated repeatedly, for instance in America is The Poisoned

Debt Rattle November 21 2016

Nov 212016

November 21, 2016 Posted by Raúl Ilargi Meijer at 9:56 am Finance Tagged with: APEC, debt, exports, greed, Hillary, imports, Japan, recession, savings, TPP, Trump, Tsipras 3 Responses »

NPC Fordson tractor exposition at Camp Meigs, Washington DC 1922 • Japan Exports Drop 13th Month By 10.3%, Imports Down 22nd Month By 16.5% (WSJ) • Negative Rates Are Failing to Halt Savings Obsession in Europe (BBG) • More Than 1 in 3 European Workers Have Difficulty Making Ends Meet (ETUC) • Now it Begins to Unravel (WS) • Former UBS, Credit Suisse CEO: “A Recession Is Sometimes Necessary” (ZH) • Big Shock In France’s Presidential Election As Sarkozy Eliminated

Debt Rattle November 20 2016

Nov 202016

November 20, 2016 Posted by Raúl Ilargi Meijer at 10:15 am Finance Tagged with: amateurs, bailout, basic income, Brexit, deflation, Italy, NSA, Obama, pardon, Snowden, water 3 Responses »

Wynand Stanley Cadillac touring car at Yosemite in snow 1919 • Peak & Decline of International Reserves: Massive Asset Deflation Ahead (SRSR) • “Developed Countries’ Currencies Solely Driven By Politics” (CNBC) • How A Universal Basic Income Would Transform Society (Agnos) • End London’s Role as a Clearing-House for Dirty Money (G.) • Europe’s Leaders To Force Britain Into Hard Brexit (O.) • Italy’s Crisis Turns into a Multi-Headed Hydra (DQ) • Italian Banks ‘Not Necessarily Bankrupt’ But Awfully Close

Debt Rattle November 19 2016

Nov 192016

November 19, 2016 Posted by Raúl Ilargi Meijer at 9:49 am Finance Tagged with: bonds, dollar, Kuroda, lobbyists, mortgage, refugees, rupee, surveillance, Trump, yen Comments Off

Unknown Dutch Gap, Virginia. Picket station of Colored troops 1864 • Financial Conditions Are Rigged Against Donald Trump (BBG) • Big Short’s Steve Eisman: ‘Europe is Screwed’ (G) • Emerging Markets Borrowers Owe $3.2 Trillion In -Rising- Dollar Debt (BBG) • Dollar’s Rapid Gain Triggers Angst in Emerging Markets (WSJ) • Global Bonds Post Biggest Two-Week Loss in 26 Years (BBG) • Bond Carnage hits Mortgage Rates. But This Time, it’s Real (WS) • US Dollar Sees Steepest 2-Week Gain

Debt Rattle November 18 2016

Nov 182016

November 18, 2016 Posted by Raúl Ilargi Meijer at 10:14 am Finance Tagged with: arctic, collapse, EU, globalization, Italy, recovery, retail, trade, Trump, Wikileaks, Yellen 5 Responses »

Unknown Army of the James, James River, Virginia. 1865 • The End of Globalization? (Spiegel) • Global Trade Is Slowing (BBG) • US Recovery Is Heading Towards Its Death: Albert Edwards (CNBC) • US Retail Sales, Ignorance & Return Reality (Roberts) • How “Dynamic Scoring” Could Justify A Debt Driven Keynesian Stimulus (BBG) • How US Federal Revenues Have Been Used To Steer The Economy In The Past (BBG) • Yellen: I’m Not Stepping Down Until My Term Is Done

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