The Automatic Earth

Debt Rattle May 7 2015

May 072015

May 7, 2015 Posted by Raúl Ilargi Meijer at 9:55 am Finance Tagged with: bees, Greece, liquidity, reforms, steel, TPP, TTIP, UK, valuations, working poor 2 Responses »

Unknown General Patrick’s headquarters, City Point, Virginia 1865 • 21 Countries Where a 40-Hour Work Week Still Keeps Families Poor (Bloomberg) • Central Bank Driven ‘Markets’ Have Nothing To Do With Economics (Stockman) • Yellen Says Stock Valuations Are ‘Quite High’ (MarketWatch) • El-Erian Warns Of Trouble As Bond Liquidity Dries Up (MarketWatch) • There Will Be No 25-Year Depression (Bill Bonner) • More Pain Ahead For China Steel (CNBC) • Brexit Threat Looms Over Britain’s Election And Europe’s Fate

German Greens Propose Radical Greek Debt Solution

May 062015

May 6, 2015 Posted by Raúl Ilargi Meijer at 11:22 am Finance Tagged with: austerity, debt servicing, Germany, Greece, Green Party, interest, loans 5 Responses »

German Greens Propose Radical Greek Debt Solution

NPC Graf Zeppelin over Capitol 1928 In its German language edition, Der Spiegel ran a piece last night (translation is mine) about a proposal from the German Green Party (Die Grünen) to deal with the Greek debt crisis that is radically different from how its own government has so far approached the situation. The Greens are not in the Berlin government, but they are a force in German politics regardless, if only because the country loves so much to portray

Debt Rattle May 6 2015

May 062015

May 6, 2015 Posted by Raúl Ilargi Meijer at 9:44 am Finance Tagged with: American Dream, austerity, China, credit score, drought, food, Russia, Social Security, trade deficit, TTP 2 Responses »

Jack Delano Foggy night in New Bedford, Massachusetts 1941 • Death Of The American Dream As A Big Bubble Readies To Pop (MarketWatch) • US Trade Deficit Soars To Worst Since 2008; Q1 GDP To Be Negative (Zero Hedge) • 3 Out Of 4 US Retirees Receive Reduced Social Security Benefits (MarketWatch) • One In Five US Adults Have No Credit Score, Can’t Borrow Money (MarketWatch) • California’s Drought Could Upend America’s Entire Food System (ThinkProgress) • Steve Keen Explains

Debt Rattle May 5 2015

May 052015

May 5, 2015 Posted by Raúl Ilargi Meijer at 10:39 am Finance Tagged with: elections, euro, Greece, IMF, liquidity, Merkel, NSA, royal baby, uninsured 8 Responses »

Jack Delano Row houses, Baltimore 1940 • Liquidity Drought Could Spark Market Bloodbath, Warns IIF (Telegraph) • “Nor Any Drop To Drink,” Citi Maps The Liquidity Paradox (Zero Hedge) • Economic Policy Turned Inside Out (Stephen Roach) • Most Greeks Want Euro Even With New Bailout Deal (Kathimerini) • Deal Or No Deal, Greece Still Faces Bankruptcy (CNBC) • France’s Far-Right Leader: EU Is Mocking Greece (CNBC) • IMF Takes Hard Line On Aid As Greek Surplus Turns To Deficit

Quote Of The Year. And The Next. And The One After

May 052015

May 5, 2015 Posted by Raúl Ilargi Meijer at 7:32 am Finance Tagged with: deceit, denial, energy, finance, limits to growth, Meadows, population, problem solving 9 Responses »

Quote Of The Year. And The Next. And The One After

I very rarely read back any of the essays I write. But maybe that’s not always a good thing. Especially when they deal with larger underlying issues beneath the problems we find ourselves in, why these problems exist in the first place, and what we can and will do to deal with them. Not all of these things can and perhaps should be re-written time and again. Commentary on daily events calls for new articles, but attempts to define the

Debt Rattle May 4 2015

May 042015

May 4, 2015 Posted by Raúl Ilargi Meijer at 9:27 am Finance Tagged with: Apple, China, clusterbombs, El-Erian, Greece, impossible trinity, trading frenzy, trailer parks, Varoufakis 1 Response »

Alfred Palmer Conversion. Beverage containers to aviation oxygen cylinders 1942 • When What Comes Down Doesn’t Go Up (Economist) • When Will Apple Stop Screwing the US Economy? (Zatlin) • America’s Trailer Parks: Residents Are Poor, Owners Are Getting Rich (Guardian) • China Gets Backed Into A Corner By The ‘Impossible Trinity’ (MarketWatch) • China’s Long Bull Run (Barron’s) • Share Trading Frenzy Grows As China’s Economy Slows (SMH) • China’s Factory Activity Shows Continued Contraction (CNBC) • 100 Days

Sucking Spoilt Milk From A Bloated Dead Sow

May 032015

May 3, 2015 Posted by Raúl Ilargi Meijer at 1:21 pm Finance Tagged with: democracy, investors, markets, one-dimensional, propaganda, recovery 5 Responses »

Sucking Spoilt Milk From A Bloated Dead Sow

Jack Delano Near Shawboro, North Carolina, Florida migrants on way to Cranberry, NJ 1940 With US GDP growth ‘officially’ back where it belongs, in the Arctic zone close to freezing on the surface but much worse in real life, for reasons both Albert Edwards and Ambrose Evans-Pritchard (not exactly a pair of Siamese twins) remarked this week; that is, excluding the “biggest inventory build in history, the economy contracted sharply”, it’s time for everyone to at long last change the

Debt Rattle May 3 2015

May 032015

May 3, 2015 Posted by Raúl Ilargi Meijer at 10:13 am Finance Tagged with: bunds, cannabis, credit card, debt restructuring, extinction, Greece, migrants, Odessa, Putin, war reparations 1 Response »

Harris&Ewing Hancock’s, the Old Curiosity Shop, 1234 Pennsylvania Avenue 1914 • Gundlach’s Bet-Against-German-Debt Plan Has One Very Big Problem (Bloomberg) • Canada has the Most Overvalued Housing Market in the World (VC) • No New Bailout Needed If Greek Debt Restructured, Says Varoufakis (AFP) • Markets Waver As Greece Teeters On Edge Of Financial Tragedy (AFR) • Use Your Credit Card To Fight Tax Evasion, Greece Urges Visitors (Observer) • Greek Exit ‘Would Leave Western Alliance In Chaos’ (Telegraph) •

Debt Rattle May 2 2015

May 022015

May 2, 2015 Posted by Raúl Ilargi Meijer at 10:36 am Finance Tagged with: bubble, democracy, house of cards, Iceland, Merkel, murders, NATO, NSA, Odessa, TTP 11 Responses »

NPC National Service Co. front, 1610 14th Street N.W., Washington DC 1920 • Grantham Says Fed “Bound And Determined” To Engineer “Full-Fledged Bubble” (ZH) • Our Banking System is a Giant House of Cards (Lynn Parramore) • For China To Start All Over, The Dinosaurs Will Have To Change (Satyajit Das) • Your No. 1 End-Of-The-World Investing Strategy (Paul B. Farrell) • How Ben Bernanke Let Down America (MarketWatch) • Quick Breakthrough At Brussels Group Looks Unlikely (Kathimerini) • The

Debt Rattle May 1 2015

May 012015

May 1, 2015 Posted by Raúl Ilargi Meijer at 10:54 am Finance Tagged with: Banks, China, extinction, fossil fuels, Greece, Japan, oil, pensions, QE 4 Responses »

Lewis Hine A heavy load for an old woman. Lafayette Street below Astor Place, NYC 1912 • Japan Is Bust: “More QE – Everywhere!” (Albert Edwards) • Marc Faber: Stocks Are About To Fall 40%—At Least! (CNBC) • Britain’s Scandal-Battered Banks Paralyzed as Election Looms (Bloomberg) • Chinese Banks Are Clobbering The US (CNBC) • Greece’s Decade-Long Relationship With Merkel (Kathimerini) • Greece Signals Concessions In Crunch Talks With Lenders (Reuters) • Greece Struggles To Make Payments To More Than

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