The Automatic Earth

Debt Rattle February 1 2016

Feb 012016

February 1, 2016 Posted by Raúl Ilargi Meijer at 9:50 am Finance Tagged with: austerity, deflation, humane, manufacturing, miners, oil, refugees, Saudi, shadow banks, yuan 6 Responses »

Matson Aircraft refueling at Semakh, British Mandate Palestine 1931 • China Manufacturing Shrinks At Fastest Rate For Over 3 Years (Reuters) • Mid-Tier Chinese Banks Piling Up Trillions Of Dollars In Shadow Loans (Reuters) • US Hedge Funds Mount New Attacks on China’s Yuan (WSJ) • China’s Steel Sector Hit By Growing Losses (FT) • Athens And Rome Expose Europe’s Greatest Faultlines (Münchau) • Euro-Area Factories Cut Prices as Deflation Risks Loom Large (BBG) • Nigeria Asks For $3.5 Billion

Debt Rattle January 31 2016

Jan 312016

January 31, 2016 Posted by Raúl Ilargi Meijer at 10:07 am Finance Tagged with: children, China, GDP, happiness, IPO, Japan, milk, morals, refugees, yen, yuan 2 Responses »

Edwin Rosskam Shoeshine, 47th Street, Chicago’s main Negro business street 1941 • A Chinese Banker Explains Why There Is No Way Out (ZH) • China GDP Growth 4.3%, Or Lower, Chinese Professor Says (WSJ) • Yuan Vs. Yen: How China Figures Into Japan’s Negative Rates (WSJ) • IPO Market Comes to a Standstill (WSJ) • Greece’s Lenders To Start Bailout Review On Monday (Reuters) • Milk Collapse Brings a 45% Pay Cut to England’s Dairy Farmers (BBG) • ‘Peak Stuff’

Debt Rattle January 30 2016

Jan 302016

January 30, 2016 Posted by Raúl Ilargi Meijer at 9:00 am Finance Tagged with: basic income, BoJ, China, Fed, hard landing, junk, NIRP, nuclear, refugees, VW Comments Off

William Henry Jackson Steamboat Metamora of Palatka on the Ocklawaha, FL 1902 • Bank Of Japan’s Negative Rates Are ‘Economic Kamikaze’ (CNBC) • Negative Rates In The US Are Next (ZH) • The Boxed-In Fed (Tenebrarum) • Central Banks Go to New Lengths to Boost Economies (WSJ) • China Stocks Have Worst.January.Ever (ZH) • China’s ‘Hard Landing’ May Have Already Happened (AFR) • China To Adopt 6.5-7% Growth Target Range For 2016 (Reuters) • Junk Bonds’ Rare Negative Return In

Debt Rattle January 29 2016

Jan 292016

January 29, 2016 Posted by Raúl Ilargi Meijer at 9:01 am Finance Tagged with: Amazon, bad loans, BoJ, Brexit, capital flight, China, debt, durable goods, expulsion, refugees 2 Responses »

DPC Grand Central Station and Hotel Manhattan, NY 1903 • Nikkei Ends Up After Roller-Coaster Ride On BOJ’s Rate Cut (CNBC) • US Durable Goods Orders Tumbled 5.1% in December (WSJ) • Amazon Shares Plunge 13% As Profit Misses Estimates (Reuters) • The Shipping News Says the World Economy Is Toast (BBG) • Red Ponzi Ticking (David Stockman) • China’s Debt-To-GDP Rises To A Gargantuan 346% (ZH) • The $29 Trillion Corporate Debt Hangover That Could Spark a Recession (BBG)

Debt Rattle January 28 2016

Jan 282016

January 28, 2016 Posted by Raúl Ilargi Meijer at 8:45 am Finance Tagged with: China, Fed, inventory, Libor, oil, refugees, Schengen, yuan 2 Responses »

DPC The Arcade, Cleveland 1901 • US Crude Inventories Are The Highest Since the 1930s (ZH) • Chart Going Back To 1861 Shows Oil Isn’t Insanely Cheap Right Now (MW) • Why the Fed Has the Stock Market Spooked (WSJ) • China Shares Flounder Again, But ‘Real Economy’ Sound Says State Media (Reuters) • China’s Central Bank Makes Most Massive Cash Infusion In 3 Years (WSJ) • China Sharpens Efforts to Halt Money Outflow (WSJ) • Hysteria Over China Has

Is China About To Drop A Devaluation Bomb?

Jan 272016

January 27, 2016 Posted by Raúl Ilargi Meijer at 4:40 pm Finance Tagged with: China, devaluation, Lagarde, Soros, Xi, yuan 8 Responses »

Is China About To Drop A Devaluation Bomb?

Berenice Abbott Broome Street, Nos. 504-506, Manhattan 1935 Though she had no intention of being funny, we laughed out loud, as undoubtedly many did with us, when incumbent and wannabe IMF head Christine Lagarde said last week in Davos that China has a communication issue. Of course, Lagarde knows full well that Beijing has much bigger problems than communication ‘with the market’. Or, to put it differently, if Xi and Li et al would ‘improve’ their communication by telling the

Debt Rattle January 27 2016

Jan 272016

January 27, 2016 Posted by Raúl Ilargi Meijer at 10:00 am Finance Tagged with: Apple, capital flight, cash, China, liquidity, refugees, yuan 1 Response »

DPC City Market, Kansas City, Missouri 1906 • Nikkei Climbs, But Shanghai Extends Fall (CNBC) • Why China’s Capital Flight Carnage Will Continue (Telegraph) • A China Bank Contagion Could Blow Up Global Markets (CNBC) • China Accuses George Soros Of ‘Declaring War’ On Yuan (AFP) • Head Of China’s Statistics Bureau Investigated For Corruption (AFP) • Inquiry in China Adds to Doubt Over Reliability of Economic Data (NY Times) • Cash Is King as Europe Adapts to Negative Interest

Debt Rattle January 26 2016

Jan 262016

January 26, 2016 Posted by Raúl Ilargi Meijer at 8:12 am Finance Tagged with: China, debt, EU, Greece, obesity, oil, refugees, Schengen, stocks, yuan 3 Responses »

Unknown Crack salesmen ‘Going East’ on streamliner City of San Francisco 1936 • China Stocks Plunge to 13-Month Low Amid Capital Outflow Concern (BBG) • China Shares Drop Sharply, as Region Suffers Rout (WSJ) • Offshore Yuan Resumes Drop as Oil Reignites Global Risk Aversion (BBG) • US Stocks Slump as Oil Resumes Rout (BBG) • Oil And Stocks Dance The Bear Market Tango (WSJ) • So Yes, the Oil Crash Looks a Lot Like Subprime (Alloway) • Capital Controls

Debt Rattle January 25 2016

Jan 252016

January 25, 2016 Posted by Raúl Ilargi Meijer at 10:48 am Finance Tagged with: Alibaba, China, commodities, Greece, oil, oversupply, plastics, racism, refugees, steel 4 Responses »

Harris&Ewing “Pennsylvania Avenue with snow, Washington, DC” 1918 • Oil Falls 4% On Swelling Oversupply • Commodities Stocks Sink As Oil Resumes Downward Slide (FT) • Oil Price Crash Is Completely Changing The Industry’s Landscape (BIA) • US Short Sellers Target China’s Alibaba (BBG) • China Pledges Steel, Coal Capacity Cuts in Supply-Side Reforms (BBG) • China’s Migrants Go Home – And Stay There (BBG) • China’s Central Bank Prioritizes Strong Yuan (WSJ) • The East Knows The West Is

Debt Rattle January 24 2016

Jan 242016

January 24, 2016 Posted by Raúl Ilargi Meijer at 7:56 am Finance Tagged with: default, Economics, Iraq, oil, primary dealers, refugees, Schengen, Shale, Varoufakis 5 Responses »

Harris&Ewing “Street scene with snow, F STreet Washington, DC” 1918 • Iraq Sells Oil For $22 A Barrel, Calls For IMF Help (BBG) • American Oil Companies Are Starting To Scream “Mayday” (CNN) • US Shale’s Big Squeeze (FT) • Squeezed Primary Dealers Quit European Government Bond Markets (Reuters) • US Banks Cut Off Mexican Clients as Regulatory Pressure Increases (WSJ) • Ideological Divisions Undermine Economics (Economist) • A Greek Conspiracy: How The ECB Crushed Varoufakis’ Plans (Häring) • Britain

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