The Automatic Earth

Debt Rattle February 12 2015

Feb 122015

February 12, 2015 Posted by Raúl Ilargi Meijer at 11:38 am Finance Tagged with: bailout, ceasefire, ebola, Eurogroup, extension, extinction, Greece, IMF, Podemos, Syriza, Ukraine 1 Response »

Byron In Chinatown, Pell Street, New York 1900 • Eurogroup Fails to Agree to Next Greek Bailout Steps (Bloomberg) • Rejected Eurogroup Draft Spoke Of “Extending” Greek Bailout (Reuters) • Greece And Eurozone In Stalemate Over Debt Burden (Guardian) • Greece Said to Offer Euro Area Four Principles for Talks (Bloomberg) • Germany Faces Impossible Choice As Greek Austerity Revolt Spreads (AEP) • Eurozone Leaders Believe Syriza Must Fail And Be Seen To Fail (Telegraph) • If The Greek Olive

Debt Rattle February 11 2015

Feb 112015

February 11, 2015 Posted by Raúl Ilargi Meijer at 11:09 am Finance Tagged with: ECB, Greece, IMF, Krugman, Lazard, Merkel, oil, OPEC, Steve Keen, Syriza, Ukraine, Varoufakis 1 Response »

John M. Fox WCBS studios, 49 East 52nd Street, NYC 1948 • Truth to Power: This Man Will Never Be Invited Back On CNBC (Zero Hedge) • Nobody Understands Debt – Including Paul Krugman (Steve Keen) • Cornered Greeks Brace For Confrontation (BBC) • Greek PM Tsipras Wins Confidence Vote Before Talks With Creditors (NY Times) • Greece’s Last Minute Offer To Brussels Changes Absolutely Nothing (AEP) • Europe’s Greek Showdown: The Sum Of All Statist Errors (David Stockman) •

The Euro’s Exponential Decay

Feb 102015

February 10, 2015 Posted by Raúl Ilargi Meijer at 11:06 pm Finance Tagged with: Bailouts, euro, Germany, Greece, Syriza, tax transfer, union, US 17 Responses »

Dorothea Lange American River camp, Sacramento, CA. Destitute family. 1936 I don’t know about you, but I’m having a ball reading up on the preparations for the Wednesday/Thursday talks between Greece and .. well, everybody else. German FinMin Schäuble proudly declares that it’s do what I tell you or you’re finished, Greek FinMin Varoufakis says prepare for a clash. Greek advisors Lazard say a $100 billion debt reduction sounds reasonable, and some anonymous EU official says Lazard are incompetent and

Debt Rattle February 10 2015

Feb 102015

February 10, 2015 Posted by Raúl Ilargi Meijer at 10:58 am Finance Tagged with: China, credit crisis, EU, Grexit, oil, pitchforks, quantum computing, Syriza 3 Responses »

Arthur Rothstein Scene along Bathgate Avenue in the Bronx Dec 1936 • Global Financial System Stands On The Brink Of Second Credit Crisis (Telegraph) • Chinese Inflation Falls To 0.8% Amid Fears Of Deflationary Spiral (Guardian) • Greek Revolt Over Austerity Is Long Overdue (CNBC) • If Germany Holds Firm On EU Deal, Greece Can Look To US, Russia, China (RT) • US Defends Unruly Greece As Europe Steps Up ‘Grexit’ Threats (AEP) • The ECB Should Stay Out of

Behind The Global – Game Of – Thrones

Feb 092015

February 9, 2015 Posted by Raúl Ilargi Meijer at 8:07 pm Finance Tagged with: ECB, EU, Greenspan, IMF, Merkel, NATO, Sarkozy, Syriza 18 Responses »

Arthur Rothstein Going to church to pray for rain, Grassy Butte, North Dakota Jul 1936 Greek PM Alexis Tsipras yesterday laid out Syriza’s stance, and from what I saw he didn’t pull even one punch. Despite all the suggestions from the financial press throughout the past week that Tsipras and Varoufakis reneged on campaign promises to seek debt write-downs, they didn’t, and never have – other than perhaps in semantics. Which I don’t find the slightest bit surprising. I would

Debt Rattle February 9 2015

Feb 092015

February 9, 2015 Posted by Raúl Ilargi Meijer at 11:25 am Finance Tagged with: default, deflation, ECB, Greenspan, Grexit, HSBC, jailtime, Swiss Leaks, Syriza 3 Responses »

NPC Ezra Meeker’s Wild West show rolls into town, Washington DC May 11 1925 • The Swiss Leaks (60 Minutes) • HSBC Files: Swiss Bank Helped Clients Dodge Taxes And Hide Millions (Guardian) • US Government Faces Pressure After Biggest Leak In Banking History (Guardian) • Greek Leader Tsipras Pledges to Press Ahead on Undoing Austerity Measures (WSJ) • Greenspan Predicts Greece Exit From Euro Inevitable (BBC) • Greek Finance Minister Says Euro Will Collapse If Greece Exits (Reuters) •

Debt Rattle February 8 2015

Feb 082015

February 8, 2015 Posted by Raúl Ilargi Meijer at 11:55 am Finance Tagged with: Crimea, Lavrov, middle class, peak food, rigs, Sarkozy, Syriza, Ukraine 7 Responses »

DPC New Orleans milk cart 1903 • Tsipras Scrambles to Find a Way Forward for Greece (Bloomberg) • Europe’s Revolt Isn’t Just In Greece Or Spain (MarketWatch) • Greece Could Run Out of Cash in Weeks (WSJ) • Syriza and the French indemnity of 1871-73 (Michael Pettis) • Democracy Could Have Saved Europe From The Disastrous Single Currency (Hannan) • Sarkozy: Crimea Cannot Be Blamed For Joining Russia (RT) • Merkel Objection to Arms for Ukraine May Spur Backlash for

Debt Rattle February 7 2015

Feb 072015

February 7, 2015 Posted by Raúl Ilargi Meijer at 11:20 am Finance Tagged with: Aberdeen, American Sniper, bailout, currency war, ECB, PBOC, Syriza, Trojan Horse 4 Responses »

NPC Minker Motor Co, 14th Street NW, Washington, DC 1922 • Currency Devaluations Are an Undeclared War (Bloomberg) • The PBOC – How To Fail In Business Without Really Flying (Russell Napier) • The Diverging Fates of China’s Provinces (Bloomberg) • Goldman Raises Alarm Over The Scariest Chart In The Jobs Report (Zero Hedge) • Stop Squeezing Syriza. We Can’t Afford Another Wrong Turn In Europe (Guardian) • Troika Trojan Horse: Will Syriza Capitulate In Greece? (Pepe Escobar) • Greece

Greece To Return Classical Masterpiece

Feb 062015

February 6, 2015 Posted by Raúl Ilargi Meijer at 3:01 pm Finance Tagged with: Henry George, Land Value Tax, LVT, Mason Gaffney, neoclassical, rentier, Single Tax, Varoufakis 20 Responses »

William Henry Jackson Silverton, Colorado 1901 An Automatic Earth afficionado who goes by the moniker GeoLib posted something in the comments section for yesterday’s Debt In The Time Of Wall Street that I think deserves a better fate than to be stuck there. He makes a gracious connection between 19th century American writer, politician and political economist Henry George, in particular his book Progress and Poverty, which in its day was a huge bestseller, and Greek finance minister Yanis Varoufakis,

Debt Rattle February 6 2015

Feb 062015

February 6, 2015 Posted by Raúl Ilargi Meijer at 11:44 am Finance Tagged with: Abenomics, debt write-off, deflation, Germany, Greece, Lazard, oil, stocks, Syriza, Venezuela 1 Response »

DPC Chamber of Commerce, Boston MA 1904 • Deflation Risk in U.S. Seen Rivaling Euro Area (Bloomberg) • Stocks Will Be ‘Ripped To Smithereens’: Albert Edwards (CNBC) • Oil Heading For $30, Currency War Coming (CNBC)

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