NPC Pittsburg Water Heater Co., Washington DC 1920 • Why The American Dream Is Unraveling, In 4 Charts (MarketWatch) • Federal Reserve Ends Era Of Historically Low Interest Rates (Guardian) • Fed Indicates Rate Hikes Coming, But Not In April (CNBC) • Fed Opens Door For Rate Hike Even As It Downgrades Economic Outlook (Reuters) • Fed To Markets: No More Promises (Hilsenrath) • Bond Traders to Yellen: You’re Wrong on Oil’s Impact on Economy (Bloomberg) • IMF Considers Greece
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Albert Freeman Mrs. Alice White at the War Fund Victory Store, Hardwick, VT 1942 On the day that Mario Draghi opened the ECB’s overly opulent new €1.3 billion palatial building(s) in Frankfurt, which led to fierce and fiery protests with hundreds arrested, amongst others from the Blockupy movement, and the IMF for some reason found it necessary to tell the eurozone that Greece is its most unhelpful client ever (really? let’s see the others) and to leak that finding to
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John M. Fox National Peanut Corp. store on Broadway, NY 1947 Let’s start with defining what an ‘investor’ really is. A reasonable definition of an investor seems to be ‘someone who puts money into risk bearing assets that promise to produce financial gains through – increased – productivity’. If we can agree on that, then furthermore I think we can all agree that investors need markets. And not only that, but they need functioning markets. What defines ‘functioning’ here is
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DPC Station at foot of incline, American Falls, Niagara Falls 1890 • The US Economy Just Keeps Disappointing (Bloomberg) • ‘Hell Will Break Loose’ If Fed Loses Patience (MarketWatch) • Options Market Signals 2007-Like Crash Risk, Goldman Warns (Zero Hedge) • US Housing Starts Plunge Most in Four Years (Bloomberg) • New BoE Regulator Warns Of Risks From US Rate Hikes, Dollar Strength (Reuters) • Europeans Defy US To Join China-Led Development Bank (FT) • Debunking $1.4 Trillion Europe Debt
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DPC Shoppers on Sixth Avenue, New York City 1903 • Bull Market Is ‘Closer To The End’ Than Investors Think (MarketWatch) • Europe’s Trapdoor Slams Shut (Vilches) • March 23 Tsipras, Merkel Talks Could Be Chance To Break Impasse (Kathimerini) • Greek PM Tsipras Says There Is No Going Back To Austerity (Reuters) • Austerity Policy Failed In Whole Of Europe, Not Just Greece – Tsipras (RT) • ECB Reports Only €9.8 Billion In Bond Purchases In First Full Week
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Jack Delano Union Station, Chicago, Illinois 1943 I need to start of off the bat with an update to this piece, which I started writing yesterday, since I now know that Angela Merkel actually did invite Alexis Tsipras on Monday. It only took her two months…. But that doesn’t take away anything from my point that Merkel has been sorely lacking and missing, it just goes to prove that point. And if she doesn’t get her act together very quickly
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NPC People’s Drug Store, 11th & G streets, Washington DC 1920 • After Six Years, U.S. Stocks are Back to Normal: Chaos (Bloomberg) • Indeed This Time Is Different: Because It’s Far Worse (Mark St.Cyr) • It’s Time For A Criminal Probe Into Tim Geithner’s Leaks As Fed Vice Chair (ZH) • Germany And Greece Should Look To Goethe To Resolve Their Standoff (Guardian) • Greek Currency Crisis Calls For Controlled Exit (Münchau) • If Greece Leaves Eurozone, Spain And
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Jack Delano Atchison, Topeka and Santa Fe, Sibley, Missouri 1943 Let me give you a quick update on our adventures down under: it’s already a month ago that Nicole was a key speaker at the Great Debate during the Melbourne Sustainable Living Festival. Time flies ever faster. I arrived a week later, and we spent two weeks in Melbourne in the granny flat of our friends Daryl, Lucy, Maggie and fierce border collie Sirius (Serious?) Black. Nicole and I hadn’t
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NPC Fred Haas, Rhode Island Avenue NE, Washington, DC 1924 • Welcome To A Fed Without Patience (MarketWatch) • US Debt To Hit Legal Limit Again On Monday (MarketWatch) • BP CEO On Oil: ‘It’s Going To Be Very Painful’ (CNBC) • Oil Futures Suffer Nearly 10% Weekly Plunge (MarketWatch) • ‘Most Significant Break Between Germany And US Since WWII’ (RT) • Poroshenko: 11 EU States Struck Deal With Ukraine To Deliver Weapons (RT) • Ukraine Says Creditors Face Principal
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Wyland Stanley General Motors exhibit, San Francisco 1939 • Why The Dollar Is Rising As The Global Monetary Bubble Craters (David Stockman) • American Mystery Story: Consumers Don’t Spend Even In Booming Job Market (BBG) • Surprise: US Economic Data Have Been the World’s Most Disappointing (Bloomberg) • Why We’re At Risk Of A QE Trap: Richard Koo (CNBC) • Roubini Greek Doom Scenario Is So Bad It May Keep the Euro Intact (Bloomberg) • Merkel’s Office Denies ‘Private Feud’
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