Jun 012015
 
Debt Rattle June 1 2015

• QE For The People: Monetary Policy For The Next Recession (Bloomberg) • The Liquidity Timebomb – Monetary Policies Create Dangerous Paradox (Roubini) • Bond Dealers Enfeebled as Liquidity Breakdown Boosts Derivatives (Bloomberg) • Top US Fund Managers Attack Regulators (FT) • Banks Are Not Intermediaries Of Loanable Funds – And Why This Matters (BoE) • Alexis Tsipras: The Bell Tolls for Europe (The Automatic Earth) • Defiant Tsipras Threatens To Detonate Crisis Rather Than Yield To Creditors (AEP) •

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May 312015
 
 May 31, 2015  Posted by at 5:00 pm Finance Tagged with: , , ,  10 Responses »
Alexis Tsipras: The Bell Tolls for Europe

This is a letter From Greek PM Alexis Tsipras in today’s Le Monde. I have little to add, his eloquence needs few comments at this moment. One thing is certain: the negotiations will never be the same. And neither will Europe. Straight from the Prime Minister’s offical website: : Alexis Tsipras: On 25th of last January, the Greek people made a courageous decision. They dared to challenge the one-way street of the Memorandum’s tough austerity, and to seek a new

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May 312015
 
 May 31, 2015  Posted by at 10:44 am Finance Tagged with: , , , , , , , , , ,  No Responses »
Debt Rattle May 31 2015

• There’s A Currency War Going On And The Fed Can’t Play (CNBC) • When Betting on QE Suddenly Goes Wrong (WolfStreet) • For The Fed, It’s The Rebound That Matters (MarketWatch) • What Bubble Vision Doesn’t Get About Q1’s Punk GDP Numbers (Stockman) • Why the Bank of Japan Can’t Stop a Sudden Collapse of the Yen (WolfStreet) • China Central Bank: We Want ‘Healthy’ Stock Market (Reuters) • What Do Falling Corporate Profits Mean With Stocks Near Their

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May 302015
 
Debt Rattle May 30 2015

• Big Banks Run Everything: Austerity, The IMF (Salon) • Investors Helpless Against Wall Street’s Secret Brainwashing Machine (Farrell) • US Economy Shrank 0.7% in First Quarter as Trade Gap Jumped (Bloomberg) • Margin Debt Breaks Out: Hits New Record 50% Higher Than Last Bubble Peak (ZH) • No Recovery Has Seen This Many Dips Since The 1950s (MarketWatch) • The Desperate Plight of a Declining Superpower (Michael T. Klare) • The Curious Optimism Of The Godfather Of Inequality (Independent)

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May 292015
 
 May 29, 2015  Posted by at 2:32 pm Finance Tagged with: , , , , , , ,  2 Responses »
The Pressure Just Shifted from Greece to the US and EU

With the 3rd US Q1 GDP print coming in at -0.7% (-3% if not for inventories), perhaps the media spotlights – and lively imagination – can move away from Greece for a few weeks. The US has enough problems of its own, it would seem. For one thing, its Q1 GDP is now worse than Greece’s. Of course its debt is also much higher, just not to the IMF and ECB. But let’s leave that one be for the moment.

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May 292015
 
 May 29, 2015  Posted by at 10:25 am Finance Tagged with: , , , , , , , , ,  1 Response »
Debt Rattle May 29 2015

• ECB Fears ‘Abrupt Reversal’ For Global Assets On Fed Tightening (AEP) • US And China Can Avoid Collision Course – If US Gives Up Its Empire (Guardian) • The Economist Who Realized How Crazy We Are (Michael Lewis) • Euro-Sclerosis (Alasdair Macleod) • This Time It Is Different (Martin Armstrong) • Austerity and Balanced Budgets Doomed To Fail (Rochon) • John Nash’s Game Theory Doesn’t Bode Well For Greece (El-Erian) • Stiglitz Tells EU to Admit Mistakes and Ease

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May 282015
 
Debt Rattle May 28 2015

• US Firms Spend More on Buybacks Than Factories (WSJ) • You’ve Met Hillarynomics. Now Meet Left-of-Hillarynomics. (Vox) • 40% of American Workers Now Have ‘Contingent’ Jobs (Forbes) • Fossil Industry Faces A Perfect Political And Technological Storm (AEP) • The Tanker Market Is Sending a Big Warning to Oil Bulls (Bloomberg) • China Stocks Plunge 6.5%, Worst Selloff In 4 Months (CNBC) • Yen Drops to 12-Year Low as Yellen Builds Case for Fed Rate Rise (Bloomberg) • US

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May 272015
 
 May 27, 2015  Posted by at 11:38 pm Finance Tagged with: , , , , , , , , ,  4 Responses »
Austerity, Economics and Religion

There are many things going on in the Greece vs Institutions+Germany negotiations, and many more on the fringe of the talks, with opinions being vented left and right, not least of all in the media, often driven more by a particular agenda than by facts or know-how. What most fail to acknowledge is to what extent the position of the creditor institutions is powered by economic religion, and that is a shame, because it makes it very difficult for the

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May 272015
 
 May 27, 2015  Posted by at 9:46 am Finance Tagged with: , , , , , , , , , , ,  1 Response »
Debt Rattle May 27 2015

• China Blows Its Debt Bubble Bigger (Pesek) • Bernanke: No Risk Of Hard Landing In China (Reuters) • Greece May Delay IMF Payments Till The End Of June (Guardian) • Greece’s Creditors Must ‘Get Their Act Together’, Says Varoufakis (AFP) • Steve Keen: Varoufakis Battles ‘Divorce Lawyer’ Style Austerity Talks (CNBC) • Juncker Questions Varoufakis, Tsipras (Kathimerini) • Greek Default, European Bankruptcy (Jacques Sapir) • A Parallel Currency For Greece: Part I (VoxEU) • Half Of Greeks Cover Their

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May 262015
 
Debt Rattle May 26 2015

• We Must Protect Our Children From Austerity (Guardian) • Greek Hospitals Out Of Painkillers, Scissors And Sheets Due To Austerity (RT) • The Key To A Greek Economic Revival Has To Be An End To Austerity (Münchau) • Austerity Is the Only Deal-Breaker (Yanis Varoufakis) • Greece Is All But Bankrupt (NY Times) • The World Is Drowning In Debt, Warns Goldman Sachs (Telegraph) • Investors Are Playing A ‘Greater Fool’ Game (George Magnus) • Weak Productivity Turns Into

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