The Automatic Earth

An American Tragedy: Trump Won Big

Oct 102016

October 10, 2016 Posted by Raúl Ilargi Meijer at 6:46 pm Finance Tagged with: America, bias, Hillary, John Wayne, moderator, narrative, Putin, Sarandon, taxes, Trump 9 Responses »

Elliot Erwitt New York 1955 If the US presidential debate last night showed anything, it must be that just about everyone has dug themselves into their trenches and had no desire whatsoever to ever came out. This seemed especially clear on the Hillary side, which appeared to include -to an extent- ‘moderators’ Anderson Cooper and Martha Raddatz, judging from their interruptions. But, granted, they were the only biased side in the discussion, so we don’t really know what trenches the

Debt Rattle October 10 2016

Oct 102016

October 10, 2016 Posted by Raúl Ilargi Meijer at 9:55 am Finance Tagged with: Brexit, central bankers, clowns, Iceland, IMF, Pentagon, recession, Russia, Trump, yuan 2 Responses »

Lewis Wickes Hine Newsies in St. Louis 1910 • Bank of America Has A Recession Warning That’s Downright ‘Scary’ (CNBC) • The Truly Scary Clowns: Central Bankers (Forsyth) • Far From Stepping Back, Top Central Banks Are Set To Double Down (R.) • The World Bank and the IMF Won’t Admit Their Policies Are The Problem (G.) • China Must Wean Itself Off Debt Addiction To Avoid Financial Calamity-IMF (Tel.) • China Fixes Yuan at Six-Year Low Against the U.S.

Debt Rattle October 9 2016

Oct 092016

October 9, 2016 Posted by Raúl Ilargi Meijer at 8:54 am Finance Tagged with: Brexit, Calais, collapse, Deutsche, globalization, net worth, refugees, rent 2 Responses »

NPC Balloon at Shriners convention, Washington DC 1923 • Less Than Half Of US 22-26-Year-Olds Pay Their Own Rent, Health Insurance (F.) • The Coming Collapse Of US Net Worth Will Wipe Out Millions Of Americans (SRSr) • World Leaders Vow To Boost Growth Despite Brexit, Anti-Globalization (CNBC) • Deutsche Bank CEO Cryan Doesn’t Reach Accord With US (BBG) • Qatari Investors Eyeing Control of Deutsche Bank (Spiegel) • Draghi Points to 2019 as Time for Inflation Mission Accomplished (BBG)

Debt Rattle October 8 2016

Oct 082016

October 8, 2016 Posted by Raúl Ilargi Meijer at 9:34 am Finance Tagged with: Brexit, bubble, elites, executions, jobless, poachers, poverty, rhino, Saudi, Trump, worries 4 Responses »

DPC Royal Street, New Orleans 1900 • US Consumer Borrowing Rises by Most in Nearly a Year (BBG) • US Consumer Credit Has Second Biggest Jump On Record (ZH) • US Payrolls Up 156K, Missing Expectations, Unemployment Rate Rises To 5.0% (ZH) • EU Leaders Line Up To Insist UK Will Pay A High Price For Brexit Stance (G.) • Worries Deepen That Globalization Is Hitting the Skids (WSJ) • Worries Grow That China Faces a Perilous Property Bubble (WSJ)

The IMF and All The Other Losers

Oct 072016

October 7, 2016 Posted by Raúl Ilargi Meijer at 6:34 pm Finance Tagged with: backlash, Brexit, contraction, democracy, Economics, elites, globalization, Growth, IMF, populism, Trump 6 Responses »

Andre Kertesz Bumper cars at amusement park in Neuilly-sur-Seine, near Paris 1930 I read a lot, been doing it for years, about finance and affiliated topics (a wide horizon of them), which means I’ve inevitably seen a wholesale lot of nonsense fly by. But for some reason, and I think I know why, Q3 2016 has been gunning for a top -or bottom- seat in that regard, and Q4 is looking to do it one better/worse. Apart from the fast

Debt Rattle October 7 2016

Oct 072016

October 7, 2016 Posted by Raúl Ilargi Meijer at 7:46 am Finance Tagged with: bankruptcy, bubble, Deutsche, IMF, Le Pen, Nobel, referendum, refugees, Trump, volatility Comments Off

G. G. Bain Katherine Stinson, “the flying schoolgirl,” Sheepshead Bay Speedway, Brooklyn 1918 • IMF, Global Finance Leaders Fret Over Populist Backlash (R.) • Donald Trump Makes History With Zero Major Newspaper Endorsements (Yahoo) • The Great Debt Unwind: US Business Bankruptcies Soar 38% (WS) • Pound Falls 10% In ‘Insane’ Asian Trading Mystery (G.) • California Overtakes UK To Become ‘World’s Fifth Largest Economy (Ind.) • China’s Housing Boom Looks a Lot Like Last Year’s Stocks Bubble (BBG) •

Debt Rattle October 6 2016

Oct 062016

October 6, 2016 Posted by Raúl Ilargi Meijer at 9:19 am Finance Tagged with: Australia, debt, derivatives, EU, IMF, rates, Stress Test, Syria, TBTF 1 Response »

Lewis Wickes Hine 12-year-old newsie, Hyman Alpert, been selling 3 years, New Haven CT 1909 • World Is Swimming In Record $152 Trillion In Debt: IMF (R.) • Australia Private-Sector Debt Rises Faster Than Almost Anywhere Else (Aus.) • One-Third Of European Banks Fail IMF Stress Test: (WSJ) • EU Readies Plan for Derivatives Clearing Crisis, the New Too-Big-to-Fail (BBG) • The Noose Is Tightening Quickly On The Global Economy (Alt-M) • Fed’s Fischer Says Low Neutral Rate A Sign

Debt Rattle October 5 2016

Oct 052016

October 5, 2016 Posted by Raúl Ilargi Meijer at 9:12 am Finance Tagged with: coal, Deutsche, elite, Gundlach, high yield, IMF, NIRP, plastic, pound, refugees Comments Off

DPC El Paso, Texas 1903 • Existential Threat To World Order Confronts Elite At IMF Meeting (BBG) • US High-Yield Default Rates Hit 6-Year High (S&P) • Gundlach Says Deutsche Bank Shows Harm of Negative Rates (BBG) • Jeff Gundlach Thinks A ‘Pivot’ Is Coming To Economic Policy (BI) • Pound Sinks To 1985 Low, Is Likely ‘Going To Go Down The Tubes’ (CNBC) • Manhattan Apartment Sales Plunge 20% (BBG) • Rescue of Italy’s Monte dei Paschi Gets ‘Dark’

Debt Rattle October 4 2016

Oct 042016

October 4, 2016 Posted by Raúl Ilargi Meijer at 9:36 am Finance Tagged with: buybacks, derivatives, Deutsche, elephants, Greece, Putin, refugees, subprime, Target2, Trump 3 Responses »

Howard Hollem Assembly and Repairs Department Naval Air Base, Corpus Christi 1942 • ‘I Defy Any Analyst To Tell Me What Deutsche’s Derivatives Are Worth’ (Price) • IMF and ECB Don’t Even See Their Destruction of Greece as a Failure (M. Hudson) • The New Confessions of an Economic Hit Man (Yes!) • Median S&P 500 Stock Is More Overvalued Than At Any Point In History (Hussman) • TARGET2 Shows Europe’s Banking Crisis Is Escalating Again – Fast (Gerifa) •

Debt Rattle October 3 2016

Oct 032016

October 3, 2016 Posted by Raúl Ilargi Meijer at 9:37 am Finance Tagged with: Abenomics, Deutsche, dollar, Fukushima, Greece, Kuroda, pound, refugees, yuan 7 Responses »

NPC Congressman John C. Schafer of Wisconsin 1924 • Is the U.S. Dollar Set to Soar? (CH Smith) • Pound Nears Three-Decade Low as May Sets Date for Brexit Trigger (BBG) • China Seeking To Succeed Where Japan Failed In Reserve Currency Push (BBG) • Deutsche Bank Races Against Time To Reach US Settlement (R.) • German Economy Minister Accuses Deutsche Bank Of Hypocrisy (Pol.) • It’s Not Just Deutsche. European Banking is Utterly Broken (Tel.) • Kuroda Blamed For

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