Dorothea Lange Country store, Person County, NC Jul 1939 • Here’s How Americans Spent Their Money In The Last 75 Years (MW) • Global Debt, Equity Markets Lose $1 Trillion In Value This Week (ZH) • January 2017 Earnings Is Going To Be a Bloodbath (EconMatters) • Trump Talked, the Fed Listened: Shrink the Balance Sheet, Bullard Says (WS) • Pentagon Says China to Return Drone; Trump Says They Can Keep It (BBG) • Free Cash in Finland. Must Be
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Dorothea Lange Country filling station, Granville County, NC 1939 • Debt Nation: The Problem, the Solutions (Valentin Schmid) • American Credit Card Debt Nears All Time Highs (BI) • It’s Been A Nightmare Year For Australian Retail (News.com.au) • Italy Prepares To Pump €15 Billion Into Ailing Banks (R.) • Euro Parity With Dollar ‘Only A Matter Of Time’ – ING (CNBC) • The Fed Is Pushing China Into A Messy Catch-22 (CNBC) • China Vows To Contain Asset Bubbles,
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Parisians duck down to evade German sniper fire following Nazi surrender of Paris, 1945 If you ever wondered what the odds are of mankind surviving, let alone ‘defeating’, climate change, look no further than the essay the Guardian published this week, written by Michael Bloomberg and Mark Carney. It proves beyond a moonlight shadow of a doubt that the odds are infinitesimally close to absolute zero (Kelvin, no Hobbes). Yes, Bloomberg is the media tycoon and former mayor of
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John Vachon Big Four Cafe, Cairo, Illinois 1940 • Obama’s Blunder; Trump’s Gambit (Rickards) • Trump Rally May Not Last Long – Marc Faber (CNBC) • This Stock Rally Is More Hope Than Substance (WSJ) • China, Others are Dumping US Treasurys as Never Before (WS) • The Longer China’s Record M&A Spree Lasts, The Stranger The Deals Get (BBG) • ECB Bond Buying Props Up Oil, Cars, Guns, Drones, Gambling, Handbags (DQ) • EU Agrees Dutch Demands On Ukraine
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William Henry Jackson Hand cart carry, Adirondacks, New York 1902 • Dollar at 14-Year Peak as Fed Rejuvenates Trump Rally (R.) • Dollar Jumps as Fed Pulls the Trigger While Stocks, Debt Decline (BBG) • Fed Fallout Escalates: China Bond Market Crashes Most On Record (ZH) • Higher US Interest Rates Next Year Could Make Big Problems For China (CNBC) • Shadow Banking in China Appears to Have Made a Roaring Comeback (BBG) • Trump Meets With Tech Titans: “No
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Louise Rosskam General store in Lincoln, Vermont 1940 • Janet Yellen Needs To Announce Her Resignation — Not A Rate Hike (Crudele) • Stephen Roach Flags Trade, China Under Trump, Tillerson (CNBC) • Trump May Be Turning China’s $1.16 Trillion Of Treasuries Into A Weapon (F.) • China To Fine Unnamed US Automaker For ‘Monopolistic Behavior’ (R.) • Top US Spy Agency Has Not Embraced CIA Assessment On Russia Hacking (R.) • Lavrov Hints ISIS Recapture Of Palmyra Orchestrated By
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Lewis Wickes Hine Newsies Gus Hodges, 11, and brother Julius, 5, Norfolk VA 1911 • Trump-Powered Dollar To Be The Bogeyman Of 2017 For Emerging Markets (MW) • Oil Prices Moderate as Doubts Over OPEC’s Output-Cut Plan Set In (WSJ) • Saudi Arabia Is Playing Defense To Hold On To Its Most Prized Customers (BBG) • UniCredit To Raise €13 Billion In Fresh Capital, Lay Off 14,000 (AFP) • One Bad Deal That Destroyed Four Bad Banks (WSJ) • Indian
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‘Daly’ Store, Manning, South Carolina July 1941 • CIA’s Blatant Lies Demolished By A Little Simple Logic (Craig Murray) • Chinese Media Hit Out At Trump Over ‘One China’ Comments (CNBC) • Dollar Debt Issuance Soars As Central Banks Take A Back Seat – BIS (CNBC) • Market ‘Paradigm Shift’ May Be Under Way, More Volatility Likely – BIS (R.) • China’s Highly Leveraged Real Estate Developers Face Tough 2017 (BBG) • Top Tech Executives To Attend Trump Summit On
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Paul Verlaine and Arthur Rimbaud, Brussels 1873 Patti Smith’s performance of Bob Dylan’s A Hard Rain’s A-Gonna Fall on Friday in Stockholm for the Nobel Literature Prize was impressive. In my never very humble view. Dylan was otherwise engaged or didn’t feel like attending, who knows, public ceremonies are not his thing. Patti stumbled, forget the second verse, said she was nervous, but she completely nailed it and then some. Patti Smith, I imagine, was chosen by Dylan with
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‘Daly’ Somewhere in the South, possibly Miami 1941 • The ECB Is Creating A World Of Zombie Banks And Zombie Companies (HandBl.) • Stocks Have Only Been This Expensive During Times Of Crisis (BI) • UK Government Faces New Brexit Court Case (R.) • Senate Quietly Passes “Countering Disinformation And Propaganda Act” (ZH) • Does Krugman Really Support The Working Class? (Dean Baker) • Non-OPEC Oil States Agree To Cuts In ‘Historic’ Deal (AFP) • Quebec Paves Way For More
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