The Automatic Earth

Debt Rattle January 26 2015

Jan 262015

January 26, 2015 Posted by Raúl Ilargi Meijer at 11:33 am Finance Tagged with: American Sniper, China, euro, Greece, Michael Moore, oil, Syriza, Ukraine 7 Responses »

DPC Levee, Ohio River at Louisville, Kentucky 1905 • Tsipras Forges Anti-Austerity Coalition Within Hours Of Victory (Bloomberg) • Greece Shows What Happens When The Young Revolt Against Corrupt Elites (Guardian) • Anti-Austerity Syriza Leader Tsipras Vows To End ‘Pain and Humiliation’ (BBC) • ‘For Five Years Greece Has Been Like A Patient Slowly Bleeding’ (Guardian) • Syriza Faces ‘Uphill Battle’ In Coming Hours (CNBC) • Syriza’s Historic Win Puts Greece On Collision Course With Europe (Guardian) • Prices in

Debt Rattle January 25 2015

Jan 252015

January 25, 2015 Posted by Raúl Ilargi Meijer at 1:51 pm Finance Tagged with: austerity, China, currency war, ECB, Greece, oil, QE, Steve Keen 3 Responses »

DPC Sidewalk newsstand NY 1900 • It’s All The Greeks’ Fault (Steve Keen) • Is Greece About To Call Time On Five Punishing Years Of Austerity? (Observer) • Draghi’s QE Promise To Greece Depends On Debt-Market Math (Bloomberg) • Spain’s Rajoy on the Defensive as New Generation Seeks Power (Bloomberg) • 8 Ways ECB’s QE Will Hurt Everyone But The Wealthy (Zero Hedge) • Carney Warns Of Liquidity Storm As Global Currency System Turns Upside Down (AEP) • Devaluation And

Is This The Day Europe Gets Its Future Back?

Jan 252015

January 25, 2015 Posted by Raúl Ilargi Meijer at 11:31 am Finance Tagged with: austerity, economic warfar, EU, Greece, IMF, shock doctrine, Syriza, Tsapris, violence 6 Responses »

Is This The Day Europe Gets Its Future Back?

Theodor Horydczak U.S. Supreme Court interiors, Washington DC 1931 With The Greek election in full motion, and first results perhaps 12 hours away, It would seem useful, no matter how the Greeks vote, to lay to rest a few misconceptions, and to expose a few ‘conceptions’ that have – largely – remained buried to date. The first misconception is that the Greeks borrowed like crazy and therefore deserve to be thrown into a pit of suffering and misery. It is

Debt Rattle January 24 2015

Jan 242015

January 24, 2015 Posted by Raúl Ilargi Meijer at 12:24 pm Finance Tagged with: deflation, drought, Greece, housing, middle class, oil, pope, Syriza 6 Responses »

Unknown Goodyear service station, San Francisco Sep 14 1932 • Ripped Off, Poor, Suicidal: The Greek Farmers Turning To Syriza (Channel4) • Syriza’s Rise Fueled by Professors-Turned-Politicians (WSJ) • Economist Vatikiotis: Syriza Proposals Don’t Go Far Enough for Greece (Truthout) • Tsipras Aims For Deal With Lenders By This Summer (Kathimerini) • German Finance Minister To Greece: We Support You (CNBC) • Nothing Is Going to Save the US Housing Market (A. Gary Shilling) • Central Banks Powerless To Prevent

Bunch of Criminals!

Jan 232015

January 23, 2015 Posted by Raúl Ilargi Meijer at 9:25 pm Finance Tagged with: criminals, disgrace, Draghi, Greece, love, miscarriages, QE, Syriza 16 Responses »

William Henry Jackson Eureka, Colorado 1900 I was going to start out saying yesterday was the saddest day in Europe in 50 years, or something like that, because of the insane and completely nonsensical largesse the ECB permits itself to launch, aimed at once again saving a banking system, but which will not only not help the European people, it will make things even much worse than they already are. Which is also, lest we overlook that ‘detail’, entirely thanks

Debt Rattle January 23 2015

Jan 232015

January 23, 2015 Posted by Raúl Ilargi Meijer at 11:45 am Finance Tagged with: Abdullah, central banks, deflation, Doomsday, Draghi, ECB, Growth, oil, QE, rhinos 7 Responses »

Harris&Ewing Army Day Parade, Memories of the World War, Washington DC Apr 6 1939 • Love In A Time Of Crisis In Greece (BBC) • Syriza To End Greece’s ‘Humiliation’ (BBC) • Saudi King’s Death Clouds Already Tense Relationship With US (WSJ) • Saudi Oil Policy ‘Just Took A Turn For The Worse’ (Kilduff) • This Currency War Cannot Go Well: Art Cashin (CNBC) • SocGen Explains Why The ECB’s QE Will Fail (Zero Hedge) • Mario Draghi: Charlatan Of

Debt Rattle January 22 2015

Jan 222015

January 22, 2015 Posted by Raúl Ilargi Meijer at 11:59 am Finance Tagged with: China, Davos, Draghi, ECB, GMO, Greece, oil, OPEC, pensions, QE 8 Responses »

DPC Steamer Tashmoo leaving wharf in Detroit 1901 Today is The Automatic Earth’s 7th anniversary! • China’s Millions Of Government Workers To Get Huge 60% Pay Raise (Caixin) • Oil Interests Clash Over Price Collapse (Reuters) • Davos Oil Barons Eye $150 Oil As Investment Slump Incubates Future Crunch (AEP) • OPEC Secretary General: Oil To Remain At Low Levels For A Month (CNBC) • BP Boss Bob Dudley: Oil Prices ‘Low For Up To 3 Years’ (BBC) • An

We’ve Let The Clowns Come Way Too Far

Jan 212015

January 21, 2015 Posted by Raúl Ilargi Meijer at 11:16 pm Finance Tagged with: clowns, Draghi, GOP, Obama, PR, QE, shadow, SOTU, spin doctors 17 Responses »

Harris&Ewing Goodyear Blimp at Washington Air Post ,DC 1938 In yesterday’s State of the Union, Obama said The ‘Shadow Of Crisis Has Passed’, and the one and the only thing I thought was: ‘Good, so now we can tackle the crisis itself?!’. If speeches like the SOTU last night, and the reactions to it, make anything clear, it’s that the PR guys won the fight against critical thinking. Sure, there are people for whom that shadow has passed, but a

Debt Rattle January 21 2015

Jan 212015

January 21, 2015 Posted by Raúl Ilargi Meijer at 11:28 am Finance Tagged with: brokers, Davos, deflation, oil, pope, rate hikes, rigs, riot, TTIP, vortex 3 Responses »

DPC Cab stand at Madison Square, NY 1900 • All Empires Die By Deflation – Not Inflation (Martin Armstrong) • Global Dollar Economy Hits ‘Deflationary Vortex’ (Zero Hedge) • Albert Edwards: ‘Markets Will Riot’ On Deflation (Huebscher) • QE Warfare Pushing World Financial System Out Of Control (AEP) • Fed Officials on Track to Raise Short-Term Rates Later in the Year (WSJ) • Central Bankers Lurch From ‘Whatever It Takes’ To ‘Whatever Next’ (Reuters) • Storm Clouds Gather Over US

The Only Road Out Of Davos

Jan 202015

January 20, 2015 Posted by Raúl Ilargi Meijer at 11:08 pm Finance Tagged with: basic necessities, broken model, community, Davos, mold, society, wealth 20 Responses »

Unknown Charleston, SC, after bombardment. Ruins of Cathedral of St John and St Finbar 1865 After 6+ (BIG +) years of deepening poverty and rising stock markets, of creative accounting, of QE and ultralow interest rates, of extend and pretend and outright propaganda and of what have you, all of which have led us to where we are today, facing yet more rounds of stumbling from crisis into multiple crises, it would seem clear that the model, if not the

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