125-year mini ice age linked to the plague and fall of empires New Scientist (Chuck L)
What’s Holding Back the World Economy? Joseph Stiglitz, Project Syndicate (David L)
China just hit a nuclear fusion milestone Business Insider (David L)
China’s ‘new normal’ is still astonishing Financial Post
Merkel mission unaccomplished Politico
Fears over new financial crisis come back to haunt global markets as trading turmoil hits Telegraph. Important. Markets in Europe better as of now, but notice the focus on Eurobanks. This is entirely warranted given the lack of any workable bailout/resolution regime, wobbly banks, and a bail-in mechanism bound to precipitate deposit runs.
European banks face major cash crunch CNBC. And see dire outlook for oil under Oil header further down.
Bear market for banks poses fresh Fed challenge Financial Times
Italy’s Debt Decline Key to Changing Markets’ View, Padoan Says Bloomberg. Hard to see how this happens with the economy weak. Spending cuts to lower debt levels have this nasty way of producing even bigger falls in GDP.
Privatization: the Atlanticist Tactic to Attack Russia Counterpunch (Chuck L)
Leonid Reshetnikov: ‘The US Is Hanging by a Thread’ Watching America (resilc). Worth reading if nothing else for its interpretation of historical US/Russian dealings.
Israel frets about “Iran as Neighbor” if Aleppo falls & al-Assad Regime Wins Juan Cole (resilc)
The Disingenuous Saudi “Offer” to Fight in Syria American Conservative (resilc)
Bloomberg says he is eyeing 2016 run Financial Times. Just about no new content beyond his previous statements, save: “I find the level of discourse and discussion distressingly banal and an outrage and an insult to the voters.” Since he would take far more votes from the Democratic nominee than any Republican, I translate this as, “Wall Street and Corporate America are not being treated with the respect they deserve by any of the candidates.” His initial trial balloon faded almost immediately from the news, and so far I see this getting prominent play only on the FT (which interviewed him) and CNBC. Readers?
Hillary Clinton Alleged Obama Sold Access/Favors to Donors Before Now Deriding Campaign Finance Attacks International Business Times
Taxpayers Give Big Pensions to Ex-Presidents, Precisely So They Don’t Have to Sell Out Intercept (resilc). Ouch.
Ted Cruz’s Logo: Hilariously Appropriate Daily Kos
Pop Goes the Marco Bubble American Conservative (resilc)
Drug Industry Launches Ad Campaign Aimed at Lawmakers Wall Street Journal (Kevin C)
Drug Pricing and Un-American Trading Bloomberg
My Generation’s Best Chance Is Socialism Nation (resilc)
IEA Warns Oil Prices Could Fall Further as Oversupply Worsens Wall Street Journal. One, IEA is generally wrong but two, it is generally wrong on the bullish side…
As Markets Gyrate Wildly, Senator Shelby’s Banking Committee Will Look at Market Structure Pam Martens and Russ Martens. Wow, this is silly. One, way too late after many complaints re HFT and dark pools and two, current market wobbles have very little to do with market structure. It’s the result of bad fundamentals and bad economic policy responses.
Beware the Friendly, Popular Types Ian Welsh (Kevin F)
The Eviction Epidemic New Yorker (resilc). Sad as well as damning.
Meritocracy & the Middle Class American Conservative
Antidote du jour (Treehugger vis resilc, in light of big snow in the Midwest and East today):