20/12/17

What China Can Learn from America’s Great Depression



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What China Can Learn from America's Great Depression
// Silver For The People

mises.org / Richard M. Ebeling / 12/19/2017

When Murray Rothbard's America's Great Depression first appeared in print in 1963, the economics profession was still completely dominated by the Keynesian Revolution that began in the 1930s. Rothbard, instead, employed the "Austrian" approach to ....

Benvenuti nella guerra tra Est e Ovest in Europa (e l’Italia rischia di perdere in ogni caso)



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Benvenuti nella guerra tra Est e Ovest in Europa (e l'Italia rischia di perdere in ogni caso)
// linkiesta.it

Kurz_Linkiesta

Il nuovo governo austriaco promette di dare la cittadinanza per gli altoatesini e si allinea ai Paesi del'Est contro il ricollocamento dei migranti. Mentre la Commissione europea è pronta a proporre sanzioni contro la Polonia per le sue leggi che minano l'indipendenza della magistratura


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OVERCAST, esperimenti climatici e scie chimiche



OVERCAST è un documentario innovativo su un fenomeno che molti di noi riterrebbero normale: le scie degli aerei che si allargano fino a diventare nuvole, coprendo il cielo e bloccando l’irradiazione solare. Per alcune persone tuttavia, queste scie costituiscono il più grande crimine ambientale nella storia dell’umanità.

Il punto sui mercati

Il punto sui mercati L'incertezza sul mercato azionario USA è stata di breve durata, come testimoniano ilhttps://www.finanzaelambrusco.it/articoli/articoli/finanza/il-punto-sui-mercati-40/

The Depression Of The 1930s Was An Energy Crisis



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The Depression Of The 1930s Was An Energy Crisis
// Zero Hedge

Authored by Gail Tverberg via Our Finite World blog,

Economists, including Ben Bernanke, give all kinds of reasons for the Great Depression of the 1930s. But what if the real reason for the Great Depression was an energy crisis?

When I put together a chart of per capita energy consumption since 1820 for a post back in 2012, there was a strange "flat spot" in the period between 1920 and 1940. When we look at the underlying data, we see that coal production was starting to decline in some of the major coal producing parts of the world at that time. From the point of view of people living at the time, the situation might have looked very much like peak energy consumption, at least on a per capita basis.


Figure 1. World Energy Consumption by Source, based on Vaclav Smil estimates from Energy Transitions: History, Requirements and Prospects (Appendix) together with BP Statistical Data for ...

Bitcoin Will Not Replace Gold Anytime Soon — Jim Cramer



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Bitcoin Will Not Replace Gold Anytime Soon — Jim Cramer
// Kitco News

Anyone worried about bitcoin replacing gold as a safe-haven investment should be reassured it's not going to happen anytime soon, CNBC's Jim Cramer said, adding that gold is looking to make a comeback.

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SPY FINANZA/ Trump e la finta guerra per tener su le Borse



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SPY FINANZA/ Trump e la finta guerra per tener su le Borse
// Il Sussidiario.net :: Economia e Finanza

Trump ha cancellato il tetto alle spese militari fissato da Obama e sembra paventare scenari di guerra. Cosa che aiuta i mercati a restare a livelli alti, spiega MAURO BOTTARELLI

(Pubblicato il Wed, 20 Dec 2017 06:05:00 GMT)

SPY FINANZA/ Il rischio "cavallo di Troia" per le banche italiane, di M. Bottarelli
IL CASO/ Così il cervello influenza i nostri acquisti e le nostre vendite, di L. Dornetti
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Commissione banche. In 48 ore, l’inciucio preventivo è svelato - Mauro Bottarelli

Commissione banche. In 48 ore, l’inciucio preventivo è svelato - Mauro Bottarelli Parliamoci chiaro: in un Paese civile, il rimpallo di responsabilità fra Bankitalia ehttps://www.finanzaelambrusco.it/articoli/articoli/finanza/commissione-banche-in-48-ore-linciucio-preventivo-e-svelato-mauro-bottarelli/

ECB Trapped: Steinhoff Liquidity Collapses As Lenders Pull Credit Lines



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ECB Trapped: Steinhoff Liquidity Collapses As Lenders Pull Credit Lines
// Silver For The People

zerohedge.com / by Tyler Durden / Dec 19, 2017 11:15 AM

When yesterday we discussed the latest troubles facing embattled retailer Steinhoff, whose bonds are owned by none other than the ECB, we said that while the company's bonds mature in 2025, its bankruptcy is at most months away. In retrospect, and in light of the latest news, that may have been optimistic, because it now appears that a bankruptcy may be imminent and is at most just weeks away. According to Bloomberg, Steinhoff – which is facing an accounting scandal that led to the recent departure of its CEO and destroyed most of the company's value – said lenders are starting to cut off support.

The reason why Steinhoff is suddenly facing not only a solvency but liquidity crisis is that the company which owns Conforama in France, Mattress Firm in the U.S. and Poundland in the U.K. isn't yet able to assess the magnitude of financial irregularities disclosed two weeks ago, it said in a presentation to lenders in London on Tuesday (presentation below). The South African company also said it didn't know when it would be able to publish audited results for 2017 and 2016, nor whether additional years will need to be restated.

Furthermore, Steinhoff also revealed that it didn't have "detailed visibility" of the cash flows of individual operating companies. The units rely on the company for working capital and "the forecast position for each operating company is evolving daily," it said. PricewaterhouseCoopers has been hired to investigate the accounts, while AlixPartners LLP is working on an analysis of the cash flow.

In short, the company is flying blind with no budgeting and no corporate overnight.

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The post ECB Trapped: Steinhoff Liquidity Collapses As Lenders Pull Credit Lines appeared first on Silver For The People.


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