NPC Skating night, Washington DC 1919 • The Global Dollar Funding Shortage Is Back With A Vengeance (Zero Hedge) • “Ignore This Measure Of Global Liquidity At Your Own Peril” (Zero Hedge) • China Inc Flocks To Euro Debt For Funding (FT) • Heta Damage Spreads in Austrian Downgrades, German Losses (Bloomberg) • Europe Is Being Torn Apart – And The Torture Will Be Slow (Guardian) • IMF Could Do More For EU Than ECB’s QE (CNBC) • Tsipras At
Read More...
DPC Sternwheeler Falls City, the levee, Vicksburg, Mississippi 1900 • Austria Is Fast Becoming Europe’s Latest Debt Nightmare (Telegraph) • Tsipras: ‘We Don’t Want to Go on Borrowing Forever’ (Spiegel) • Eurogroup To Consider Greek Reform Proposals Amid Scramble For Funding (Kath.) • The ECB’s Lunatic Full Monty Treatment (Tenebrarum) • 7 Things To Know About The ECB’s QE Game Plan (MarketWatch) • 30 Years Of A Polarised Economy Have Squeezed Out The Middle Class (Observer) • Foreign Banks Tighten
Read More...
Christopher Helin Kissel military Highway Scout Kar at Multnomah Falls, Oregon 1918 The European Union is busy accomplishing something truly extraordinary: it is fast becoming such a spectacular failure that people don’t even recognize it as one. People have no idea, they just think: this can’t possibly be true, and they continue with their day. They should think again. Because the Grand European Failure is bound to lead to real life consequences soon, and they’ll be devastating. The union that
Read More...
Wyland Stanley Bulletin press car: Mitchell auto at Yosemite National Park 1920 • A Fair Hearing For Sovereign Debt (Stiglitz/Guzman) • Berlin Alarmed by Aggressive NATO Stance on Ukraine (Spiegel) • Week of Milestones for US Stocks Spoiled by Fed Rate Anxiety (Bloomberg) • Dear Janet Yellen: We’re Nowhere Close To Full Employment (MarketWatch) • ‘A Conspiracy Of Silence’: HSBC, Guardian And The Defrauded British Public (ML) • Almost 100 Families Evicted Daily In Spain (RT) • It Might Be
Read More...
Harris&Ewing War-bond rally on Penn. Avenue, Washington DC 1918 • Dollar-Euro Parity A Matter Of When Not If (CNBC) • “Chinese Economic Activity Has Probably Slowed To Less Than 3%” (Zero Hedge) • Mario Draghi’s Yield of Dreams (WSJ) • Greece Seeks To Plug Its ‘Bermuda Triangle’ Of Lost Taxes (AFP) • Draghi Declares Victory for Bond-Buying Before It Starts (Bloomberg) • Nowhere But Down? Euro Reacts To QE (CNBC)
Read More...
Harris&Ewing US Weather Bureau kiosque, Pennsylvania Avenue, Washington, DC 1921 See, by now you would think that anyone who reads that all 31 US banks that were tested have passed the Fed stress test, knows this says absolutely nothing about the banks, but all the more about the test. You would think. But the media try – and succeed – to cram it down the public’s throat as a success story anyway. There’s simply a very strong feeling, if not
Read More...
Harris&Ewing Washington, DC, Storm damage..” Between 1913 and 1918 • Liquidity Evaporates In China As ‘Fiscal Cliff’ Nears (AEP) • China Lowers Growth Target to About 7% as Headwinds Intensify (Bloomberg) • IMF Director Batista: Greek Bailout Was ‘To Save German & French Banks’ (KTG) • Why ECB Risks Running Out Of Ammunition (SocGen’s Olivier Garnier at FT) • Greece Struggles to Make Debt Math Work Amid Bailout Standoff (Bloomberg) • IMF Abdication On Greece (Peter Doyle) • Greek Officials
Read More...
NPC Communist Party Young Communist League, Washington, DC 1925 It’s not that long ago, in 2001, that Jim O’Neill, then still with Goldman Sachs, coined the term BRICs, for the fast emerging markets of Brazil, Russia, India and China. O’Neill saw a global power shift from the west to these four nations happening. Fast forward to today, and we see Russia under multiple attacks, including economic ones, from the west, as India just announced the second rate cut this year
Read More...
NPC “.. the hearty cereal beverage with flavor and tang, Altemus-Hibble truck” 1920 • Only Mass Default Will End The World’s Addiction To Debt (Telegraph) • Eurozone Faces First Regional Bankruptcy In Austria’s Carinthia (AEP) • Shelby Says Fed Should Be Held Accountable for Its Actions (Bloomberg) • Yellen Says Fed Seeks to Avert ‘Capture’ by Banks It Oversees (Bloomberg) • Draghi’s Rescue Plan Has Created a $103 Billion Problem (Bloomberg) • ECB Glimpse of Cyprus Debt Mountain Shows Limits
Read More...
William Henry Jackson Saltair Pavilion, Great Salt Lake 1900 • Heta Senior Bonds Plunge as Austria Cuts Off Aid to Bad Bank (Bloomberg) • The Great Global Monetary Easing of 2015 May Be Done by Midyear (Bloomberg) • Fed Ushers In A New Era Of Uncertainty On Rates (Hilsenrath at FT) • To Beat Austerity Greece Must Break Free From The Euro (Costas Lapavitsas) • Greece Eyes Last Central Bank Funds To Avert IMF Default (AEP) • Mixed Messages On
Read More...