Wynn Bullock Child on a Forest Road 1958 A few days ago, former Reagan Budget Director and -apparently- permabear (aka perennial bear) David Stockman did an interview (see below) with Stuart Varney at Fox -a permabull?!-, who started off with ‘the stock rally goes on’ despite a London terror attack and the North Korea missile situation. His first statement to Stockman was something in the vein of “if I had listened to you at any time after the past
Read More...
Edouard Manet Portrait of Emile Zola 1868 • When The Market Finally Implodes, Don’t Say These Charts Didn’t Warn You (MW) • S&P 500 Buybacks Have Dropped By 25% Since The First Quarter Of 2016 (MW) • Fed’s Balance-Sheet Unwind Will Be Moment Of Truth For Financial Markets (MW) • $700 Billion Unpaid Mortgage Balances In Harvey And Irma Disaster Areas (ZH) • Rand Paul’s Senate Vote Rolls Back the Warfare State (Ron Paul) • US Senate Backs Massive
Read More...
Pablo Picasso The old fisherman 1895 • Muted Inflation A Trillion-Dollar Puzzle – BIS (R.) • Global Debt Underreported By $14 Trillion – BIS (ZH) • World’s Central Banks Can’t Ignore the Bitcoin Boom – BIS (BBG) • Dogecoin Creator On Cryptocurrencies: “Very Bubble. Much Scam. So Avoid.” (NYT) • The Future Of Cryptocurrency Is Not As It Seems (Eric Peters) • China’s $40 Trillion Banking System: “Largest Imbalances I’ve Ever Seen” (ZH) • Stockman: Trump’s Now ‘Blowing Kisses
Read More...
Edward Hopper House tops 1921 • Trade War With China Will End US Global Finance Monopoly – Jim Rogers (RT) • Pension Storm Warning (Mauldin) • S&P On The Verge Of History (ZH) • How Austerity Works (Steve Keen) • Why Bitcoin May Be Worth Only A Third Of Its Value (MW) • How Common is the Seneca Curve? (Ugo Bardi) • Greek Debt Write-Offs To Be Based On Properties (K.) • The Eurozone May Be Back On Its
Read More...
Pablo Picasso Garcon à la Pipe 1905 • To Hell In A Bucket: America Is Going Broke At Mach 30 (Gordon) • Down $20 Billion, Boeing Stuffs Pension Fund With Its Own Shares (BBG) • Toys ‘R’ Us Mulls Chapter 11 Bankruptcy Filing (R.) • Bitcoin Needs To Be Worth $1,000,000 To Be A Legitimate Currency (MW) • Hillary Happened (Jeffrey St. Clair) • Trump And The Democrats: What’s Next: A Deal With Bernie? (Salon) • The OODA Loop
Read More...
Juan Gris Portrait of the artist’s mother 1912 • Fed To Take Historic Leap Into The Unknown (MW) • Janet Yellen’s Right-Hand Man Is Hanging Up His Boots (BI) • 97 Million American Workers Are Living Paycheck To Paycheck (ZH) • “Markets Are Wrong” (Hugh Hendry) • Japanese Told To Find Shelter After North Korea ‘Fires New Missile’ (Y.) • JPMorgan Is In A Bubble And Not Bitcoin – Max Keiser (RT) • Why Europe Will Miss The Disruptive
Read More...
Edward Hopper Chop Suey 1929 • Top Democrats Announce Deal With Trump To Protect ‘Dreamers’ (MW) • Fed Balance Sheet Reduction Will Reduce Funds Sent To Treasury (BI) • “You Should Take the Fed at Their Word” (WS) • “Markets Have Always Been Wrong” – Jamie Dimon (ZH) • 10% of Global GDP Is Stashed In Tax Havens (BI) • Did You Know Housing Gets Counted Twice In GDP? (Murray) • The Real Earnings of Men (WS) • China’s
Read More...
Eugene Delacroix Greece expiring on the Ruins of Missolonghi 1826 European Commission president Jean-Claude Juncker, famous for his imbibition capacity and uttering -not necessarily in that order- the legendary words “when it becomes serious, you have to lie”, presented his State of the Union today. Which is of pretty much limited interest because, as Yanis Varoufakis’ book ‘Adults in the Room’ once again confirmed, Juncker is nothing but ventriloquist Angela Merkel’s sock puppet. But of course he had lofty
Read More...
Sergio Larraín Valparaiso Chile 1963 • Greece Property Value Review A Hard Task (K.) • Creditors Set To Increase Pressure On Athens (K.) • US Threatens To Cut Off China From SWIFT If It Violates North Korea Sanctions (ZH) • Yuan Fixing Takes Center Stage, Again (BBG) • Cryptocurrency Chaos As China Cracks Down On ICOs (R.) • JPMorgan’s Dimon Says Bitcoin ‘Is A Fraud’ (R.) • America’s Fiscal Doomsday Machine (Stockman) • IMF Is Resisting A Moratorium On
Read More...
Juan Gris Grapes 1913 • People ‘Fighting In The Streets’ For Last Remaining Food In Caribbean (Ind.) • 20 Miles Made A $150 Billion Difference In Hurricane Irma’s Damage Bill (BBG) • The Role Of Climate Change In Extreme Weather Events (Rapier) • Stormy Weather (Davis) • US National Debt Tops $20 Trillion For First Time In History (Fox) • None So Blind As Those Who Will Not See (Steve Keen) • Behind the Potemkin Village (Hussman) • Market
Read More...