LIFE How to kiss 1942 On the day after a bunch of European countries headed into yet another -emergency- meeting, and as the refugee situation in Greece and the Balkans was more out of hand than ever before, not in the least because the numbers of refugees arriving from -in particular- Turkey are larger than ever, let’s reiterate what should always be the guiding principle driving the response to issues like this. That is, the only way to approach a
Read More...
Wyland Stanley Chalmers touring car 1922 • US Economic Data Has Never Been This Weak For This Long (Zero Hedge) • US Companies Warn of Pending Recession (WSJ) • EU Agrees To Tighten Border Controls And Slow Migrant Arrival (AP) • Tensions Rise Between European Nations Over Refugee Crisis (Bloomberg) • Greece Says Refugees Are Not Enemies, Refuses to Protect Borders From Them (WSJ) • European Trust: The Perfect Storm (Mungiu-Pippidi) • China Containerized Freight Index Collapses to Worst Level
Read More...
NPC Capitol Refining Co. plant, Relee, Alexandria County 1925 • Pensioners Prosper, The Young Suffer. UK Social Contract Is Breaking (Willetts) • Putting China’s “6.9% GDP Growth” In Context (Lebowitz) • China Premier Says 7% Growth Goal Never Set In Stone (Reuters) • China Communist Party Paper Says Country Should Join TTIP (Reuters) • Cyber Attacks Bigger Threat To Our Banking System Than Bad Debts (Luyendijk) • The Age Of The Torporation (Economist) • Listen – Is That The Sound
Read More...
William Henry Jackson Hospital Street, St. Augustine, Florida 1897 • China Cuts Interest Rates, Reserve Ratios to Counter Slowdown (Bloomberg) • China Interest Rate Cut Fuels Fears Over Ailing Economy (Guardian) • Why The Chinese Rate Cut Will Not Slow China’s Economic Decline (Coward) • Reactions To Rate Cut: “China Is Getting More And More Desperate” (Zero Hedge) • China Takes ‘Riskiest’ Step by Ending Deposit-Rate Controls (Bloomberg) • Draghi’s Signal Adds $190 Billion to Negative-Yield Universe (Bloomberg) • Eurozone
Read More...
DPC Harlem River Speedway and Washington Bridge, New York 1905 • ECB Rings The Bell For Pavlov’s Market Dogs (AFR) • ECB President Mario Draghi Reignites Currency War Talk (AFR) • The Great Negative Rates Experiment (Bloomberg) • Every Day’s a Crisis for Europe as Merkel Heads Back to Brussels (Bloomberg) • Oil’s Big Slump Looks Like the 1980s ‘Lost Decade’ (Bloomberg) • As China Weakens, Recession Stalks North Asia (Reuters) • Credit Suisse Exiting Bond Role Sounds Alarm for
Read More...
Jack Delano Spectators at annual barrel rolling contest, Presque Isle, ME 1940 • Iceland Sentences 26 Bankers To A Combined 74 Years In Prison (USUncut) • HSBC: These Are the Economies That Could Run Into Trouble (Bloomberg) • Jim Chanos Nails the Link Between Debt and Energy (Bloomberg) • Saudis Risk Draining Financial Assets in 5 Years, IMF Says (Bloomberg) • Who on Wall Street is Now Eating the Oil & Gas Losses? (WolfStreet) • China Steel Output May Collapse
Read More...
LIFE Freedom in peril 1941 Whenever we at the Automatic Earth explain, as we must have done at least a hundred times in our existence, that, and why, we refuse to define inflation and deflation as rising or falling prices (only), we always get a lot of comments and reactions implying that people either don’t understand why, or they think it’s silly to use a definition that nobody else seems to use. -More or less- recent events, though, show us
Read More...
Christopher Helin Federal truck, City Ice Delivery Co. 1934 • China: A Debt Balloon With Nowhere to Go But Down (Bloomberg) • China Stocks Down Over 4% In Choppy Trade (CNBC) • China’s Overheated Bond Market Showing Strain for Local Bankers (Bloomberg) • China Bond Defaults Seen Rising After Sinosteel Misses Payment (Bloomberg) • Just How Bad Was the 2009 Global Recession? Really, Really Bad (Bloomberg) • Why Miners May Want To Rethink Record High Output (CNBC) • Barclays Plots
Read More...
Hans Behm Windy City tourists at Monroe Street near State 1908 • Another Quarter Of Remarkably Precise China GDP Growth Data (Reuters) • China’s Better-Than-Expected GDP Prompts Skepticism From Economists (WSJ) • Chinese Economists Have No Faith In 7% Growth ‘Target’ (Zero Hedge) • China’s Capital Outflows Top $500 Billion (FT) • China Heads For Record Crude Buying Year (Reuters) • Britain’s Love Affair With China Comes At A Price (AEP) • The Perfect Storm That Brought Britain’s Steel Industry
Read More...
Jack Delano Truck service station on U.S. 1, NY Avenue, Washington, DC 1940 • China Economy Logs Weakest Growth Since 2009 Despite Easing (Reuters) • The Fed Is Stuck, With US At The Mercy Of China (MarketWatch) • UK In Economic Kowtow To Xi Seeks ‘Golden Era’ In China Trade (Bloomberg) • Chinese Copper-Trading Surge Shakes Up Market (WSJ) • China Ponders Tool Deemed Too Risky Post 2008 to Cut Bad Loans (Bloomberg) • The World Hits Its Credit Limit,
Read More...