Meltdown

Fukushima Court Rules TEPCO, Government Liable Over 2011 Disaster

...a Japanese district court in Fukushima prefecture ruled this week that Tokyo Electric Power and the Japanese government were liable for damages totaling about 500 million yen ($4.44 million) in the largest class action lawsuit brought over the 2011 nuclear disaster...

Frontrunning: October 9

  • Thaler, Famed for ‘Nudge’ Theory, Wins Nobel Prize in Economics  (BBG)
  • Republicans Worry About Keeping Trump’s Middle-Class Tax Promise (BBG)
  • Catalan leader under pressure to drop independence (Reuters)
  • Spain Warns Catalonia Independence Bid Risks Economic Meltdown (BBG)
  • U.S. Asks Allies to Cut Off North Korea (WSJ)

Chris Hedges On The Silencing Of Dissent

"The ruling elites, who grasp that the reigning ideology of global corporate capitalism and imperial expansion no longer has moral or intellectual credibility, have mounted a campaign to shut down the platforms given to their critics. The attacks within this campaign include blacklisting, censorship and slandering dissidents as foreign agents for Russia and purveyors of 'fake news'."

Bill Blain: How To Catch Rabies In The Junk Bond Market

There are a number of things that worry me. First is the market doesn’t seem to think Toy R Us is symptomatic of wider problems across the whole hi-yield and LBO sector. Scond, high yield spreads continue to tighten against bonds...

Five Bitcoin Crashes (And What You Can Learn From Them)

"With Bitcoin price reaching a new high of $5,000 recently, and then dumping back down to nearly $3,000, it’s been a wild ride this month... Since Bitcoin began, there have been some major crashes, but there have also been some good lessons to learn."

Government By Goldman

"...now Cohn’s in charge of the economy and talking about eliminating financial reform and basically putting the country back to where it was in 2005, as if 2008 didn’t happen. I’ve started the countdown clock to the next financial crash, which will make the last one look mild."

BIS Finds Global Debt May Be Underreported By $14 Trillion

"Contracts worth tens of trillions of dollars stand open and trillions change hands daily. And yet one cannot find these amounts on balance sheets. This debt is, in effect, missing" the BIS finds in its latest quarterly assessment, which is a concerning as "the missing debt amounts to some $13-14 trillion."