The Automatic Earth

Debt Rattle January 2 2016

Jan 022016

January 2, 2016 Posted by Raúl Ilargi Meijer at 10:09 am Finance Tagged with: Amazon, China, default, diamonds, junk bonds, minimum wage, oil, refugees, short, yields 6 Responses »

Earl Theisen Walt Disney oiling scale model locomotive at home in LA 1951 • After a Tumultuous 2015, Investors Have Low Expectations for Markets (WSJ) • Will Corporate Investment and Profits Rebound This Year? (WSJ) • A Year of Sovereign Defaults? (Carmen Reinhart) • The Next Big Short: Amazon (Stockman) • The Real Financial Risks of 2016 (Taleb) • High-Yield Bonds: Worthy of the Name Again (WSJ) • Slowdown In Chinese Manufacturing Deepens Fears For Economy (Guardian) • Opinion Divided

Debt Rattle New Year’s Day 2016

Jan 012016

January 1, 2016 Posted by Raúl Ilargi Meijer at 10:29 am Finance Tagged with: Bailouts, China, copper, gold, jobs, lawsuits, oil, VW 1 Response »

Unknown Gurley-Lord service station, San Francisco 1929 • US Stocks Close Out The Worst Year For The Market Since 2008 (AP) • Oil Drops 31% In 2015 On Global Crude Glut (MarketWatch) • Gold Sinks 10% For 3rd Annual Loss as Platinum, Palladium Hit Hard (Reuters) • Copper Ends Dismal Year on a Low Note (WSJ) • Half a Million Bank Jobs Have Vanished Since 2008 Crisis (BBG) • China December Factory Activity Shrinks (Reuters) • Chicago PMI Plummets To

Debt Rattle December 31 2015

Dec 312015

December 31, 2015 Posted by Raúl Ilargi Meijer at 9:59 am Finance Tagged with: Brazil, China, Civil War, commodities, derivatives, Greece, mortgage, oil, refugees, yuan 1 Response »

DPC Market Street from Montgomery Street, San Francisco, after the earthquake 1906 • The Deadly Truth About the Great Boom and This “Recovery” (Dent) • Asia’s Top Commodity Trader Ends a Turbulent Year With Cut To Junk (BBG) • Mom And Pop Are The Greater Fools (ZH) • Oil Ends 2015 In Downbeat Mood; Hangover To Be Long, Painful (Reuters) • Impact Of Low Crude Prices On Oil Powers (Guardian) • China’s Yuan Posts Biggest Annual Loss In 21 Years

Debt Rattle December 30 2015

Dec 302015

December 30, 2015 Posted by Raúl Ilargi Meijer at 9:12 am Finance Tagged with: bubble, collapse, debt, defaults, forex, oil, refugees, Saudi, steel, tax revenue 4 Responses »

DPC Boston and Maine Railroad depot, Riley Plaza, Salem, MA 1910 • US Companies Led the World in 2015 Debt Defaults (BBG) • China’s Unprecedented Real Estate Bubble Is a Ticking Time Bomb (Dent) • The Most Important China Chart Of 2015 (BI) • China Suspends Foreign Banks’ Forex Business (Reuters) • Oil Prices Become a Problem for US Steelmakers (BBG) • Oil-Producing US States Battered as Tax-Gushing Wells Are Shut Down (BBG) • Gulf States Forced To Empty Their

Debt Rattle December 29 2015

Dec 292015

December 29, 2015 Posted by Raúl Ilargi Meijer at 9:40 am Finance Tagged with: Abenomics, arctic, China, commodities, floods, mergers, oil, refugees, Saudi 2 Responses »

DPC Sloss City furnaces, Birmingham, Alabama 1906 • Weak Demand, Vessel Surplus Mean Horror 2016 For Commodities Shipping (Reuters) • Energy Stocks Fall Along With Oil Prices (WSJ) • Saudi Riyal In Danger As Oil War Escalates (AEP) • Saudis Plan Unprecedented Subsidy Cuts to Counter Oil Plunge (BBG) • Saudi Arabia Plans Subsidy Cuts as King Unveils 2016 Budget (BBG) • Where Next For The Three Arrows Of Abenomics? (Telegraph) • Record Merger Boom Won’t Stop In 2016, Because

2016 Is An Easy Year To Predict

Dec 282015

December 28, 2015 Posted by Raúl Ilargi Meijer at 10:48 pm Finance Tagged with: 2016, central banks, China, commodities, debt, deflation, leverage, oil, over, risk 4 Responses »

AP Police Officer Carries Aylan Kurdi’s Body, Bodrum Sep 2 2015 No year is ever easy to predict, if only because if it were, that would take all the fun out of life. But still, predictions for 2016 look quite a bit easier than other years. This is because a whole bunch of irreversible things happened in 2015 that were not recognized for what they are, either intentionally or by ‘accident’. Things that will therefore now be forced to play

Debt Rattle December 28 2015

Dec 282015

December 28, 2015 Posted by Raúl Ilargi Meijer at 9:55 am Finance Tagged with: Abenomics, arms, China, floods, Japan, refugees, Russia, Shale, steel 2 Responses »

DPC Gillender Building, corner of Nassau and Wall Streets, built 1897, wrecked 1910 1900 • Japan Output, Retail Sales Slump, Dampen Recovery Prospects (Reuters) • Japan Business Lobby Head Won’t Commit To Higher Wages (Reuters) • China Industrial Profits Fall For Sixth Straight Month (Reuters) • Head Of China Telecom ‘Taken Away’ As Probe Launched (AFP) • World Steel Chief Calls Chinese Glut ‘Serious And Critical’ (USA Today) • Shale’s Running Out of Survival Tricks as OPEC Ramps Up Pressure

Debt Rattle December 27 2015

Dec 272015

December 27, 2015 Posted by Raúl Ilargi Meijer at 9:51 am Finance Tagged with: basic income, cash-free, debt, flooding, refugees, sub-zero, taper tantrum, war on drugs 2 Responses »

Gordon Parks A scene at the Fulton Fish Market, New York 1943 • $1.7 Trillion of Sub-Zero Euro Debt Shows ECB Outlook for 2016 (BBG) • Deutsche Bank Sees Taper Tantrum Echo Ahead for US Treasuries (BBG) • Pound Is ‘Most Overvalued Currency In The World’, Analysts Claim (Telegraph) • In Sweden, a Cash-Free Future Nears (NY Times) • Dutch City Plans To Pay All Citizens A ‘Basic Income’ (Guardian) • The Man Who Exposed The Lie Of The War

Debt Rattle Boxing Day 2015

Dec 262015

December 26, 2015 Posted by Raúl Ilargi Meijer at 9:58 am Finance Tagged with: austerity, bankruptcy, basic income, China, Christmas, migrants, oil, peace, QE, refugees, smog 10 Responses »

Andreas Feininger Production B-17 heavy bomber at Boeing plant, Seattle Dec 1942 • Christmas 2015 – Why There Is No Peace On Earth (Stockman) • China State Firms’ Profits Down 9.5% Year-on-Year In January-November (Reuters) • China Says AIIB Up And Running Early In The New Year • US Oil Bankruptcies Reach Highest Quarterly Level Since Recession (BBG) • Why Not People’s Quantitative Easing? (Steve Keen on Keiser Report) • Commerzbank Sues BNY Mellon, Wells Fargo, HSBC Over Mortgage Losses

Help the Automatic Earth Help the Poorest Greeks and Refugees

Dec 252015

December 25, 2015 Posted by Raúl Ilargi Meijer at 5:50 pm Finance Tagged with: Athens, donation, Greece, help, homeless, Kostas, Lesbos, refugees, social kitchen 1 Response »

Help the Automatic Earth Help the Poorest Greeks and Refugees

Elena Angelopoulos Refugee mother feeds child at ‘The Other Human’ social kitchen on Lesbos 2015 No, I’m not planning to let this rest. And I’m not planning to write the whole article again either. Our readers have once again been crazy generous (thank you so much!), but in the spirit of Christmas I ask more of you to do more. We can be a veritable force for good, and that’s not something we get a lot of shots at, not

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