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How “Mr. Dig Dig” Buried Wuhan In Debt: Local Government Financing Vehicles Are At The Heart Of China’s Ponzi

davidstockmanscontracorner.com / By LINGLING WEI and BOB DAVIS at The Wall Street Journal / January 28, 2015

WUHAN, China—A little over a year ago, a Chinese credit agency downgraded a government-owned financing company in this dusty industrial city. Default—nearly unheard-of in China on government bonds—was a possibility, it said.

But during discussions with lenders, […]

Debt Rattle January 28 2015

Harris&Ewing “Street scene with snow, F STreet Washington, DC” 1918

theautomaticearth.com / by Raúl Ilargi Meijer / January 28, 2015

“What surprises me is that this all-or-nothing positioning takes anybody in. Debts are debts? Please.”

• Why Europe Will Cave to Greece (Bloomberg)

A prediction for you: Greece and the European Union will split […]

Acceleration of Events with Rising Chaos

news.goldseek.com / By: Jim Willie CB, GoldenJackass.com / 28 January 2015

In the closing months of 2014, on numerous occasions the position was put forth that as the days of January stacked up, toward the end of the month and going into February, that the global financial structures would show severe strain, widespread disruptions, and […]

Greek Credit Risk Spikes, Default Probability Tops 70%

zerohedge.com / by Tyler Durden / 01/28/2015 10:14

Greek default risk has surged in recent days and today as it becomes clear what Syriza expects from Europe, short-term CDS are at post-crisis highs with 5Y CDS implying a 76% probability of default(based on standard recovery assumptions – which may be a little high in this […]

‘Two Percent Inflation’ and The Fed’s Current Mandate

news.goldseek.com / By Ron Paul / 28 January 2015

Over the last 100 years the Fed has had many mandates and policy changes in its pursuit of becoming the chief central economic planner for the United States. Not only has it pursued this utopian dream of planning the US economy and financing every boondoggle conceivable […]

Greek Payback Math at 0% Interest

globaleconomicanalysis.blogspot.com / Mike “Mish” Shedlock / Tuesday, January 27, 2015 8:59 PM

Payback of Greek Debt

Greece has something like €315 billion of public debt.

Forget about that. Instead focus on liabilities as presented in Revised Greek Default Scenario: Liabilities Shifted to German and French Taxpayers; Bluff of the Day Revisited.

The above total […]

Debt Rattle January 27 2015

DPC Delaware, Lackawanna and Western R.R. yards, Scranton, PA 1900

theautomaticearth.com / by Raúl Ilargi Meijer / January 27, 2015

“I haven’t met an economist in their heart of hearts that will tell you that Greece will pay back all of that debt.”

• Greece Debt Repayment In Full Is ‘Unrealistic’, Says Syriza (BBC)

[…]

27/1/2015: Greek Debt: Non-Crisis Porkies Flying Around

trueeconomics.blogspot.com / by Constantin Gurdgiev / January 27, 2015

There is an interesting sense of dramatic contradictions emerging when one considers on the one hand the outcome of the Greek elections, and on the other hand the statements from some EU finance ministers (for example see this: http://www.bloomberg.com/news/2015-01-27/schaeuble-says-greece-needs-no-debt-cut-due-to-no-interest-phase.html). The basic contradiction is that one set […]

Is Mattel CEO “Resignation” A Sign Of Things To Come For Retail Execs?

zerohedge.com / by Tyler Durden on 01/26/2015 11:29

In the three years since Bryan Stockton took over as CEO of Mattel, the company’s revenues have tumbled and debt load has soared over 30% as – despite share buyback bonanzas, the stock price has greatly rotated to unchanged since Jan 2012 when he took over. […]

Debt Rattle January 26 2015

DPC Levee, Ohio River at Louisville, Kentucky 1905

theautomaticearth.com / by Raúl Ilargi Meijer / January 26, 2015

Fast track: “The prime minister will meet with the president today for his swearing in ceremony, and will announce the government’s composition, in which we will take part.”

• Tsipras Forges Anti-Austerity Coalition Within Hours Of […]

26/1/2015: If not Liquidity, then Debt: ECB’s QE competitive limping

trueeconomics.blogspot.com / by Constantin Gurdgiev / January 26, 2015

I have written before, in the context of QE announcement by the ECB last week (see here:http://trueeconomics.blogspot.ie/2015/01/2312015-liquidity-fix-for-euro-what-for.html) that the real problem with the euro area monetary and economic aggregates has nothing to do with liquidity supply (the favourite excuse for doing all sorts of things that […]

If not Liquidity, then Debt: ECB’s QE competitive limping

trueeconomics.blogspot.com / by Constantin Gurdgiev / January 26, 2015

I have written before, in the context of QE announcement by the ECB last week (see here:http://trueeconomics.blogspot.ie/2015/01/2312015-liquidity-fix-for-euro-what-for.html) that the real problem with the euro area monetary and economic aggregates has nothing to do with liquidity supply (the favourite excuse for doing all sorts of things […]

Greek Voters Stick It to the Eurozone Good and Hard

teapartyeconomist.com / by Gary North / January 26, 2015

Greek voters have elected a Marxist political party. The party ran on this slogan: “Spend, spend, spend.” It is a popular slogan.

The party will start ramping up the welfare dole. It’s Keynesian welfarism forever! But where will it get the money? There are two ways: […]

Freedom, Where Are You? Not in America or Europe — PCR

paulcraigroberts.org / Paul Craig Roberts / January 25, 2015

When the former Goldman Sachs executive who runs the European Central Bank (ECB) announced that he was going to print 720 billion euros annually with which to purchase bad debts from the politically connected big banks, the euro sank and the stock market and Swiss france […]

QE…D: Why Printing Money will end badly for the US

goldcore.com / By admin / January 24, 2015

You may have heard the news, the European Central Bank have started up the printing press. They are soon to print upwards of €60 Billion a month. The crowds of economic pundits have collectively cheered. Ireland stands to enjoy significant near term benefits, but at what cost?

[…]

Ireland Proposes Debt Restructuring Conference for Spain, Greece, Ireland; A Turnip is a Turnip

globaleconomicanalysis.blogspot.com / Mike “Mish” Shedlock / Sunday, January 25, 2015 9:00 PM

Contagion? Well don’t worry about that! German Chancellor Angela Merkel assures us that will not happen. However, a difference of opinion is forming in Greece, Spain, and Ireland.

Via translation from El Confidencial, SYRIZA Extends the Debate, “Ireland Stands Out: Seeks Conference […]

THE EUROPEAN CENTRAL BANK COMMITS MONETARY SUICIDE

dollarvigilante.com / by Ed Bugos / 2015/1/23

Yesterday the European Central Bank (ECB) announced an expanded 1.1 trillion euro (US$1.3 trillion) asset purchase program to start in March 2015 and continue through September 2016 (19 months) that will include the purchases of sovereign (national government) debt. It plans to purchase roughly 60 billion euros ($68 […]

Debt Rattle January 23 2015

Harris&Ewing Army Day Parade, Memories of the World War, Washington DC Apr 6 1939

theautomaticearth.com / by Raúl Ilargi Meijer / January 23, 2015

It’s downright criminal what the EU and ECB have accomplished: “Relationships are complicated these days,” says Katerina. “No-one is even thinking about getting married or having children.”

• Love In […]

Revised Greek Default Scenario: Liabilities Shifted to German and French Taxpayers; Bluff of the Day Revisited

globaleconomicanalysis.blogspot.com / Mike “Mish” Shedlock / January 22, 2015

Dr. Eric Dor, director of IESEG School of Management, in Lille, has an update on bank exposure to Greek debt liabilities.

The numbers are roughly in line with figures I have posted earlier, but the breakdowns and other details are interesting.

IESEG Bilateral loans Guarantees on […]

Teenager answers: If America has $18 trillion in debt, can it still claim to be a wealthy nation?

sovereignman.com / by Simon Black / January 21, 2015

Last night’s State of the Union address had one conspicuous omission, and it’s huge.

It’s bigger than all the wars, it’s bigger than the stock market, it’s bigger than the government, it’s bigger than the wages of all the people in America, it’s bigger than […]