#automaticearth

It turns out that those agreements reached by EU leaders in the wee hours of Thursday morning actually consisted of an agreement to travel around the world, hat in hand, asking for people to invest in the most publicized ponzi scheme in human history.

It was the big-money men, it was them who made us to rise and blow across the land like the Russian thistle, like gypsies in the dust.

Stoneleigh of the automatic earth blog explains why in their view, bursting the current financial bubble of credit will lead to deflation, not inflation (as many fear).

New estimates have made clear that it is unlikely more than 1 million jobs were created by the ARRA stimulus, which amounts to $820,000 per job, some of which were not even productive for the general economy.

Radio Ecoshock interviews Ilargi of Automatic Earth on euro crisis, plus we learn about type II climate change 

Looks to me like it takes many billions of dollars each and every day just to keep Wile E.'s legs spinning in mid-air a little longer.

If you still haven't figured out the difference between a liquidity crisis and a solvency crisis, we suggest you do so soon. Because the banks of this world are not illiquid, other than the worst of the Europeans having no access to US dollars. The banks are insolvent. The whole banking system is.

"...people in charge in the various eurozone countries have consistently refused to prepare for what has now become inevitable (and, for all intents and purposes, has been for years). Which means that plans and preparations we are about to see will be haphazard and poorly organized. Get ready to see some true craziness. And soon: the status quo is not going to last much longer."