Unknown Medical supply boat Planter, General Hospital wharf on the Appomattox, City Point, VA 1865 • Negative Interest Rates Set Up World For Biggest Mass Default Ever (Warner) • German Bunds Are Tanking After Big Investors Say to Get Out (Bloomberg) • The Real Financial Crisis That Is Looming: Consumer Spending (STA) • US Economy Grinds To A Halt In First Quarter 2015 (Bloomberg) • Fed Stays Vague on Rate-Hike Timing, but Sees Slower Growth as Blip (Hilsenrath) • Ignore
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NPC National Service Co. front, 1610 14th Street N.W., Washington DC 1920 • The New Nothingness (Steen Jakobsen) • The Real War On The Middle Class (Ron Paul) • Over Half Of Americans Killed By Police Each Year Are Mentally Ill (Economist) • Who Is Really Choosing America’s Next President? (ProPublica) • If Greece Falls, No One Wants Their Prints On The Murder Weapon (Reuters) • Greece Shakes Up EU-IMF Talks Team But Keeps Varoufakis (AFP) • Greece PM Leaves
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Harris&Ewing Ford Motor Co. New medical center parking garage, Washington, DC 1938 Dutch daily Algemeen Dagblad ran a little article recently that we’re surprised no other news organization picked up. It concerned a proposal in the European Parliament in which the parliamentarians got to vote on raising their own paycheck (always a good idea). The best thing about the story is that not everyone voted in favor. Most did though. It much amused me to see that apparently it was
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Jack Delano Brakeman H.B. Van Santford on the AT&SF line from Summit to San Bernardino 1943 • Debt Addiction Could Send Us The Way Of The Mayans (Satyajit Das ) • Negative Interest Rates: The Black Hole of The Financial System (SI) • The S&P 500 Has A Serious Revenue Problem (CNBC) • Boston Fed Admits There Is No Exit, Suggests QE Become “New Normal” (Zero Hedge) • China Inc. Finds Cure to Debt Hangover in Stock-Market Boom (Bloomberg) •
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Harris&Ewing Streamlined street car passing Washington Monument 1938 • The ECB Needs to Know Its Place (Philippe Legrain) • Will Greece Run Out Of Cash? – No! – (Bruegel) • Isolated In Debt Talks, Greek Finance Rebel Gets The Cold Shoulder (Reuters) • Migrant Influx Strains Greece As Economy Suffers (Reuters) • Greeks’ View Of Crisis: ‘What Lies Ahead Is Great, Great Hardship’ (Guardian) • Euro Ministers Alarmed as Bloc Shuts Down Greece Plan B (Bloomberg) • Greece Not Playing
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DPC Clam seller in Mulberry Bend, NYC 1904 After the high-level EU summit on the migrant issue, hastily convened after close to a thousand people drowned last weekend off the Lybian coast, Dutch PM Mark Rutte was quoted by ‘his’ domestic press as saying ‘Our first priority is saving human lives’. That sounds commendable, and it also sounds just like what everybody knows everybody else wants to hear. One can be forgiven, therefore, for thinking that it’s somewhat unfortunate that
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Russell Lee South Side market, Chicago 1941 • How The Stock Market Destroyed The Middle Class (MarketWatch) • The Trans-Pacific Partnership and the Death of the Republic (Ellen Brown) • US Bridges Falling Down Get No Help From Record 2015 Muni Sale (Bloomberg) • Crash Boys (Michael Lewis) • Flash Crash Trader Sarao Is A ‘Hero’, Says Fund Manager (Telegraph) • Can The Hound Of Hounslow Really Be A Wolf Of Wall Street? (Telegraph) • Chances of Greek Deal ‘Virtually
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John Vachon Window in home of unemployed steelworker, Ambridge, PA 1941 • Steen Jakobsen Sees “Zero Growth, Zero Inflation, & Zero Hope” (Zero Hedge) • Fed Should Make Bond Buys a Regular Policy Tool, Boston Fed Paper Finds (WSJ) • Why Wall Street Is Scoffing At ‘Flash Crash’ Bust (CNBC) • The Flash Crash Patsy and The ‘Mass Manipulation Of High Frequency Nerds’ (ZH) • Financial Experts Cast Doubt On Case Against ‘Flash Crash Trader’ (Guardian) • A New Deal
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Jack Delano Female freight handler at AT&SF depot, Kansas CIty 1943 This is an open letter I received from a group of 57 Greek intellectuals, addressed to the EU and America, concerning the waves of refugees (migrants, immigrants) that ‘wash ashore’ on Greek territory in increasing numbers. We all know by now to what extent Europe has dropped the ball on the issue, and I’ll have much more to say on that soon. I thought it would be a good
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Harris&Ewing Camp Meade, Maryland 1917 • Half of US Fracking Companies Will Be Dead or Sold This Year (Bloomberg) • The ‘Grexit’ Issue And The Problem Of Free Trade (Stratfor) • If Greece Can Survive 2015, It’s Home Free (MarketWatch) • Greek Banks Win More Emergency Cash as Talks Loom (Bloomberg) • Greece: Of Parents And Children, Economists And Politicians (Wren-Lewis) • Greek Contagion Risks May Be Higher Than You Think (CNBC) • We’re Just Learning the True Cost of
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