Wyland Stanley Bulletin press car: Mitchell auto at Yosemite National Park 1920 • A Fair Hearing For Sovereign Debt (Stiglitz/Guzman) • Berlin Alarmed by Aggressive NATO Stance on Ukraine (Spiegel) • Week of Milestones for US Stocks Spoiled by Fed Rate Anxiety (Bloomberg) • Dear Janet Yellen: We’re Nowhere Close To Full Employment (MarketWatch) • ‘A Conspiracy Of Silence’: HSBC, Guardian And The Defrauded British Public (ML) • Almost 100 Families Evicted Daily In Spain (RT) • It Might Be
Read More...Harris&Ewing War-bond rally on Penn. Avenue, Washington DC 1918 • Dollar-Euro Parity A Matter Of When Not If (CNBC) • “Chinese Economic Activity Has Probably Slowed To Less Than 3%” (Zero Hedge) • Mario Draghi’s Yield of Dreams (WSJ) • Greece Seeks To Plug Its ‘Bermuda Triangle’ Of Lost Taxes (AFP) • Draghi Declares Victory for Bond-Buying Before It Starts (Bloomberg) • Nowhere But Down? Euro Reacts To QE (CNBC)
Read More...Harris&Ewing US Weather Bureau kiosque, Pennsylvania Avenue, Washington, DC 1921 See, by now you would think that anyone who reads that all 31 US banks that were tested have passed the Fed stress test, knows this says absolutely nothing about the banks, but all the more about the test. You would think. But the media try – and succeed – to cram it down the public’s throat as a success story anyway. There’s simply a very strong feeling, if not
Read More...Harris&Ewing Washington, DC, Storm damage..” Between 1913 and 1918 • Liquidity Evaporates In China As ‘Fiscal Cliff’ Nears (AEP) • China Lowers Growth Target to About 7% as Headwinds Intensify (Bloomberg) • IMF Director Batista: Greek Bailout Was ‘To Save German & French Banks’ (KTG) • Why ECB Risks Running Out Of Ammunition (SocGen’s Olivier Garnier at FT) • Greece Struggles to Make Debt Math Work Amid Bailout Standoff (Bloomberg) • IMF Abdication On Greece (Peter Doyle) • Greek Officials
Read More...NPC Communist Party Young Communist League, Washington, DC 1925 It’s not that long ago, in 2001, that Jim O’Neill, then still with Goldman Sachs, coined the term BRICs, for the fast emerging markets of Brazil, Russia, India and China. O’Neill saw a global power shift from the west to these four nations happening. Fast forward to today, and we see Russia under multiple attacks, including economic ones, from the west, as India just announced the second rate cut this year
Read More...NPC “.. the hearty cereal beverage with flavor and tang, Altemus-Hibble truck” 1920 • Only Mass Default Will End The World’s Addiction To Debt (Telegraph) • Eurozone Faces First Regional Bankruptcy In Austria’s Carinthia (AEP) • Shelby Says Fed Should Be Held Accountable for Its Actions (Bloomberg) • Yellen Says Fed Seeks to Avert ‘Capture’ by Banks It Oversees (Bloomberg) • Draghi’s Rescue Plan Has Created a $103 Billion Problem (Bloomberg) • ECB Glimpse of Cyprus Debt Mountain Shows Limits
Read More...William Henry Jackson Saltair Pavilion, Great Salt Lake 1900 • Heta Senior Bonds Plunge as Austria Cuts Off Aid to Bad Bank (Bloomberg) • The Great Global Monetary Easing of 2015 May Be Done by Midyear (Bloomberg) • Fed Ushers In A New Era Of Uncertainty On Rates (Hilsenrath at FT) • To Beat Austerity Greece Must Break Free From The Euro (Costas Lapavitsas) • Greece Eyes Last Central Bank Funds To Avert IMF Default (AEP) • Mixed Messages On
Read More...DPC Country store, Venezuela 1905 From what I read in the press every day, as well as from private communication, a pretty wide divide seems to appear between what many people think the Syriza government in Athens should do, and what they actually can do at this point in time. It should be useful to clarify what this divide consists of, and how it can be breached, if that is at all possible. In particular, many are of the opinion
Read More...Christopher Helin Flint auto, Ghirardelli Square, San Francisco 1924 • Austria On Track to Bail in Heta Creditors After Aid Stop (Bloomberg) • ‘What Is Desirable For The Eurozone May Not Be Feasible’ (Reuters) • David Stockman Warns ‘It’s One Of The Scariest Moments In History’ (Zero Hedge) • Are Central Banks Creating Deflation? (Zero Hedge) • Negative Yields: What Could Go Wrong? (CNBC) • Greek Debt Becoming Less Sustainable (Kathimerini) • German Finance Chief Schaeuble Softens Tough Tone Against
Read More...NPC K & W Tire Co. Rainier truck, Washington, DC 1919 • Forget All Our Other Troubles – The Russians Are Coming! (Neil Clark) • What Is Money And How Is It Created? (Steve Keen) • Humiliated Greece Eyes Byzantine Pivot As Crisis Deepens (AEP) • Poll Surge For Alexis Tsipras’ Syriza As Greeks Learn To Smile Again (Guardian) • Greece’s Lenders Skeptical On New Bills But Focus On Funding Needs (Kathimerini) • Greece To Prioritize IMF Repayments But Wants
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