The Daily Debt Rattle

Submitted by Raúl Ilargi Meijer  –  The Automatic Earth

• We’re in the Early Stages of Largest Debt Default in US History (Stansberry)
• It’s Not The Record High US Corporate Debt That Is The Biggest Risk (ZH)
• US Banks Said To Hold $10 Trillion Of Risky Trades (FT)
• US Banks Are Not “Sound”, Fed Report Finds (Simon Black)
• Chinese Defaults Spread as Cement Maker to Miss Bond Payment (Bloomberg)
• China Factory Output, Investment Sluggish As Old Economy Slows (Bloomberg)
• Goldman Sachs Says Corporate America Has Quietly Re-Levered (Tracy Alloway)
• Credit Suisse CEO Sees ‘Traumatic’ Event If Rates Increase (Bloomberg)
• Oil Prices Drop On Rising Stockpiles, Slowing Asian Economies (Reuters)
• ECB Faces Three Suits Over Quantitative Easing in Germany (Bloomberg)
• VW Only Carmaker Found Cheating By US Regulator (Reuters)
• Minsky, Financial Instability, Great Depression & GFC (Steve Keen)
• Bitcoin’s Place In The Long History Of Pyramid Schemes (FT)
• Abortions Up 50% In Greece Since Start Of The Crisis (Kath.)
• More Misery Ahead For Greeks As Economy Set To Shrink Again (Reuters)
• EU Fears Greek Debt Deal Would Unleash Mass Write-Off Calls In Spain (Telegraph)
• Germany May Need €21 Billion To House And Educate Refugees (Reuters)
• No One Is Really In Charge Of The Refugee Crisis (Reuters)
• Germany Sends Syrians Back To EU Borders (Local.de)
• Austria Calls For Greece, Italy Border Controls (AP)
• Refugee Boat Sinks Off Western Turkey, 14 Dead, 7 Children (AA)