The Automatic Earth

Debt Rattle December 20 2014

Dec 202014

December 20, 2014 Posted by Raúl Ilargi Meijer at 12:59 pm Finance Tagged with: Cheney, China, oil, pipeline, poverty, predators, religion, Russia, warbler, Whitney Comments Off

William Henry Jackson “Street in the French Quarter, New Orleans” 1885 • Two Nations: 27% Of British Children Grow Up In Poverty (Independent) • Manufacturers Face ‘Bloodbath’ In Russia (BBC) • China Offers Enhanced Cooperation as Russia Struggles (Bloomberg) • Dollar Resumes Climb as Yellen Signals 2015 Interest-Rate Rise (Bloomberg) • UK Unions Call For North Sea Tax Breaks As Oil Slump Threatens Jobs (Guardian) • It’s Not Easy Being Green: Fossil Fuel Subsidies Half A Trillion Dollars (CNBC) •

Debt Rattle December 19 2014

Dec 192014

December 19, 2014 Posted by Raúl Ilargi Meijer at 11:21 am Finance Tagged with: brain, China, collapse, emerging markets, North Sea, oil, pope, Shale, torture 4 Responses »

John Vachon Trucks loaded with mattresses at San Angelo, Texas Nov 1939 • Oil Crash Exposes New Risks for U.S. Shale Drillers (Bloomberg) • North Sea Oil Industry ‘Close To Collapse’ (BBC) • North Sea Oilfields ‘Near Collapse’ After Price Nosedive (Telegraph) • Exxon Mobil Shows Why U.S. Oil Output Rises as Prices Plunge (Bloomberg) • Central Banks Are Now Uncorking The Delirium Phase (David Stockman) • Dow’s 421-Point Leap Is Biggest Gain In 3 Years (MarketWatch) • Already Crummy

The Biggest Economic Story Going Into 2015 Is Not Oil

Dec 182014

December 18, 2014 Posted by Raúl Ilargi Meijer at 10:07 pm Finance Tagged with: credit, debt, dollar, emerging markets, losses, oil, QE 7 Responses »

The Biggest Economic Story Going Into 2015 Is Not Oil

Arthur Rothstein “Quack doctor, Pittsburgh, Pennsylvania” May 1938 Isn’t it fun to just watch the market numbers roll by from time to time as you go about your day, see Europe markets up 3%+, Dubai 13%, US over 2% (biggest two-day rally since 2011!), and you just know oil must get hit again? Well, it did. WTI down another 3%+. I tells ya, no Plunge Protection is going save this sucker. And oil is not even the biggest story today.

Debt Rattle December 18 2014

Dec 182014

December 18, 2014 Posted by Raúl Ilargi Meijer at 11:43 am Finance Tagged with: Fed, gold, Greece, oil, Putin, ruble, Russia, Uruguay, water 3 Responses »

Lewis Wickes Hine News of the Titanic and possible survivors 1912 • Fed Calls Time On $5.7 Trillion Of Emerging Market Dollar Debt (AEP) • Bankers See $1 Trillion of Investments Stranded in the Oil Fields (Bloomberg) • Oil Could Fall To $30 A Barrel: Emirates Boss (CNBC) • Oil-Led Slump Spurring Fastest Investor Exit Since 2008 (Bloomberg) • The Fracturing Energy Bubble Is the New Housing Crash (David Stockman) • Yellen Makes It Clear That Fed’s Patience on Rates

Debt Rattle December 17 2014

Dec 172014

December 17, 2014 Posted by Raúl Ilargi Meijer at 12:30 pm Finance Tagged with: collapse, derivatives, drought, Greece, oil, philantropy, ruble, Russia 11 Responses »

Russell Lee Proprietor of small store in market square, Waco, Texas Nov 1939 • Oil Plunge Sets Stage for Energy Defaults (Bloomberg) • Crude Collapse Prompts Great Rotation Into Cash (CNBC) • U.S. Talking Oil Exports Just When World Needs It Least • The Impact of Oil On US Growth (John Mauldin) • Airlines Poised for $12 Billion Global Windfall on Oil Collapse (Bloomberg) • Eight Things I Wish for Wall Street (Michael Lewis) • Regional Banks Key To Wall

Oil Price Scenarios for 2015 and 2016

Dec 172014

December 17, 2014 Posted by Raúl Ilargi Meijer at 10:19 am Finance Tagged with: demand, Euan Mearns, oil price, OPEC, prediction, supply 11 Responses »

Harris&Ewing F Street, Washington, DC 1935 This is another article from our friend in Aberdeen, Euan Mearns. It was first posted on Euan’s own site, Energy Matters. I earlier posted Euan’s The 2014 Oil Price Crash Explained on November 24, when the price of oil was still quite a bit higher than today. WTI ended that day at $75.74, it’s now $55.15. Here’s Euan: A couple of weeks ago I had a post titled The 2014 Oil Price Crash Explained

We’re Not In Kansas Anymore

Dec 162014

December 16, 2014 Posted by Raúl Ilargi Meijer at 4:14 pm Finance Tagged with: bubble, central banks, credit, debt, derivatives, fake, junk bonds, Kansas, oil 6 Responses »

Arthur Rothstein “Bank that failed. Kansas” May 1936 Few may have noticed it to date, but it’s not like we still live in the same world, just with lower oil prices. We live in a different world altogether, with the changes between the new and old brought about by the (impending) disappearance of a lot of – virtual – money, or credit, give it a name, and the difference between oil at $110 and oil at $50. And for the

Debt Rattle December 16 2014

Dec 162014

December 16, 2014 Posted by Raúl Ilargi Meijer at 11:16 am Finance Tagged with: bubble, Greenland, melt, North Pole, oil, peat, rhino, Ron Paul, Russia, shutdown 2 Responses »

DPC Conover Building, Third and Main, Dayton, Ohio 1904 • Oil Has Become The New Housing Bubble (CNBC) • Oil’s Crash Is the Canary In the Coal Mine for a $9 Trillion Crisis (Phoenix) • Oil Slides Below $55 as U.S. Output Seen Steady Amid OPEC Fight (Bloomberg) • Brent Seen Falling to $50 in 2015 as OPEC Fails to Act (Bloomberg) • Crash-O-Matic Finance (James Howard Kunstler) • Russia Central Bank Raises Interest Rate To 17% On Ruble Collapse

Debt Rattle December 15 2014

Dec 152014

December 15, 2014 Posted by Raúl Ilargi Meijer at 11:06 am Finance Tagged with: Congress, contagion, crash, Greece, Grexit, implosion, Japan, oil, OPEC, punchbowl 2 Responses »

Wyland Stanley REO taxicab, San Francisco 1924 • Santa Got Run Over By An Oil Tanker (MarketWatch) • U.A.E. Sees OPEC Output Unchanged Even If Oil Falls to $40 (Bloomberg) • The Oil-Price-Shock Contagion-Transmission Pathway (Zero Hedge) • UK Energy Firms Go Under As Oil Price Tumbles (Guardian) • Oil Bust Veterans Brace While Shale-Boom Newbies Swagger (Bloomberg) • Warning Over Horrible End To Japan’s QE Blitz (AEP) • Time to Take Away the Punchbowl in Japan (Bloomberg) • Samaras

Quo Vadis, America?

Dec 142014

December 14, 2014 Posted by Raúl Ilargi Meijer at 9:33 pm Finance Tagged with: America, freedoms, nukes, politicians, rights, Ron Paul, Senate, torture 16 Responses »

DPC Mott Street, Chinatown, New York 1900 Where are you going, America? I don’t like to discuss politics too much. There are not enough smart, kind and honest people in politics wherever I look in the world for me to want to have anything to do with that game. I’d just spend all my time wondering what kind of mindset it takes to want to tell other people what to do, and be in control of the millions, billions and

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