The Daily Debt Rattle

Submitted by Raúl Ilargi Meijer  –  The Automatic Earth

China Stock Markets Shuttered -Again- After Falling 7% (FT)
China Jolts Markets With Sharply Lower Yuan Fix (CNBC)
Offshore Yuan Rises From Five-Year Low as PBOC Puzzles Markets (BBG)
Global Oil Prices Hit 12-Year Low (Reuters)
Shanghai Fund Manager Dumps All Holdings in ‘Insane’ Market (BBG)
It’s All Bad News for Markets Buckling Under China, Fed, Economy (BBG)
George Soros Sees Crisis in Global Markets That Echoes 2008 (BBG)
Fears Mount Over Rise Of Sovereign-Backed Corporate Debt (FT)
A $500 Car Repair Bill Would Send Most Americans Scrambling (WSJ)
If A Basic Income Works For The Royal Family, It Can Work For Us All (Guardian)
Macy’s To Cut Jobs, Shut Stores Amid Weak Holiday Sales (Reuters)
Note To Joe Stiglitz: Banks Originate, Not Intermediate (Steve Keen)
BIS Says Central Banks’ Stimulus Strategy Is Based On A False Premise (AEP)
One Map That Explains the Dangerous Saudi-Iranian Conflict (Intercept)
Massive US Tax Grab Coming in 2016 at All Levels of Government (FRA)
Deal Paves Way For Thousands Of Cuban Immigrants Heading To US (CNN)
EU Fails to Defuse Passport-Free Clash in Northern Europe (BBG)
Drop In Refugees Due to Weather, Not Turkey’s Crackdown, Germany Says (Reuters)