DPC Market Street from Montgomery Street, San Francisco, after the earthquake 1906 • The Deadly Truth About the Great Boom and This “Recovery” (Dent) • Asia’s Top Commodity Trader Ends a Turbulent Year With Cut To Junk (BBG) • Mom And Pop Are The Greater Fools (ZH) • Oil Ends 2015 In Downbeat Mood; Hangover To Be Long, Painful (Reuters) • Impact Of Low Crude Prices On Oil Powers (Guardian) • China’s Yuan Posts Biggest Annual Loss In 21 Years
Read More...
DPC Boston and Maine Railroad depot, Riley Plaza, Salem, MA 1910 • US Companies Led the World in 2015 Debt Defaults (BBG) • China’s Unprecedented Real Estate Bubble Is a Ticking Time Bomb (Dent) • The Most Important China Chart Of 2015 (BI) • China Suspends Foreign Banks’ Forex Business (Reuters) • Oil Prices Become a Problem for US Steelmakers (BBG) • Oil-Producing US States Battered as Tax-Gushing Wells Are Shut Down (BBG) • Gulf States Forced To Empty Their
Read More...
DPC Sloss City furnaces, Birmingham, Alabama 1906 • Weak Demand, Vessel Surplus Mean Horror 2016 For Commodities Shipping (Reuters) • Energy Stocks Fall Along With Oil Prices (WSJ) • Saudi Riyal In Danger As Oil War Escalates (AEP) • Saudis Plan Unprecedented Subsidy Cuts to Counter Oil Plunge (BBG) • Saudi Arabia Plans Subsidy Cuts as King Unveils 2016 Budget (BBG) • Where Next For The Three Arrows Of Abenomics? (Telegraph) • Record Merger Boom Won’t Stop In 2016, Because
Read More...
AP Police Officer Carries Aylan Kurdi’s Body, Bodrum Sep 2 2015 No year is ever easy to predict, if only because if it were, that would take all the fun out of life. But still, predictions for 2016 look quite a bit easier than other years. This is because a whole bunch of irreversible things happened in 2015 that were not recognized for what they are, either intentionally or by ‘accident’. Things that will therefore now be forced to play
Read More...
DPC Gillender Building, corner of Nassau and Wall Streets, built 1897, wrecked 1910 1900 • Japan Output, Retail Sales Slump, Dampen Recovery Prospects (Reuters) • Japan Business Lobby Head Won’t Commit To Higher Wages (Reuters) • China Industrial Profits Fall For Sixth Straight Month (Reuters) • Head Of China Telecom ‘Taken Away’ As Probe Launched (AFP) • World Steel Chief Calls Chinese Glut ‘Serious And Critical’ (USA Today) • Shale’s Running Out of Survival Tricks as OPEC Ramps Up Pressure
Read More...
Gordon Parks A scene at the Fulton Fish Market, New York 1943 • $1.7 Trillion of Sub-Zero Euro Debt Shows ECB Outlook for 2016 (BBG) • Deutsche Bank Sees Taper Tantrum Echo Ahead for US Treasuries (BBG) • Pound Is ‘Most Overvalued Currency In The World’, Analysts Claim (Telegraph) • In Sweden, a Cash-Free Future Nears (NY Times) • Dutch City Plans To Pay All Citizens A ‘Basic Income’ (Guardian) • The Man Who Exposed The Lie Of The War
Read More...
Andreas Feininger Production B-17 heavy bomber at Boeing plant, Seattle Dec 1942 • Christmas 2015 – Why There Is No Peace On Earth (Stockman) • China State Firms’ Profits Down 9.5% Year-on-Year In January-November (Reuters) • China Says AIIB Up And Running Early In The New Year • US Oil Bankruptcies Reach Highest Quarterly Level Since Recession (BBG) • Why Not People’s Quantitative Easing? (Steve Keen on Keiser Report) • Commerzbank Sues BNY Mellon, Wells Fargo, HSBC Over Mortgage Losses
Read More...
Elena Angelopoulos Refugee mother feeds child at ‘The Other Human’ social kitchen on Lesbos 2015 No, I’m not planning to let this rest. And I’m not planning to write the whole article again either. Our readers have once again been crazy generous (thank you so much!), but in the spirit of Christmas I ask more of you to do more. We can be a veritable force for good, and that’s not something we get a lot of shots at, not
Read More...
Jack Delano Brockton, Mass., Enterprise newspaper office on Christmas Eve 1940 • Switzerland To Vote On Banning Banks From Creating Money (Telegraph) • US Retailers At Risk Of Missing Even Modest Holiday Sales Goals (Reuters) • High Street Christmas Shopping Figures Grim Reading For Retailers (Guardian) • Lower Jobless Claims Don’t Point to Robust US Labor Market (WSJ) • African Firms Hit by Dollar Shortages (WSJ) • Why The Fed Will Never Succeed (Macleod) • The Perils of Fed Gradualism
Read More...
NPC “Poli’s Theater, Washington, DC. Now playing: Edith Taliaferro in “Keep to the Right” 1920 • Half The Country Is Either Living In Poverty Or Damn Near Close To It (AN) • Most Americans Have Less Than $1,000 In Savings (MarketWatch) • The Keynesian Recovery Meme Is About To Get Mugged, Part 2 (Stockman) • Extreme Oil Bears Bet on $25, $20 and Even $15 a Barrel in 2016 (BBG) • US Banks Hit By Cheap Oil As OPEC Warns
Read More...