Lewis Wickes Hine Night scene in Cumberland Glass Works, Bridgeton, NJ 1909 • Investors Yank $9.3 Billion From Emerging Markets, Most in 7 Years (WSJ) • Fed Tantrum Sets Off Biggest Exodus From Emerging Markets Since 2008 (AEP) • Is Deutsche Bank The Next Lehman? (NotQuant.com) • Obama Suffers Stunning Loss As Democrats Defeat Trade Bill (LA Times) • Trade Bill Defeat Casts Doubt On EU-US Deal (Politico) • The Euro Won’t Survive Unless The EU Ends Greece’s Humanitarian Crisis
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Jack Delano Main street intersection, Norwich, Connecticut 1940 • Peak America: Our Run Is Over (Paul B. Farrell) • American Dreaming, From G1 to Bilderberg (Pepe Escobar) • US Is Still Drowning In Mortgage Debt (MarketWatch) • The Warren Buffett Economy – Why Its Days Are Numbered-Part 3 (Stockman) • Myopic US Policies Pave Way For China’s Dominance (MarketWatch) • China’s Answer to Europe’s Needs (Bloomberg) • The World’s Worst Investment Bubble Will Burst Soon (MarketWatch) • Demands On Greece
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G.G. Bain Auto polo, somewhere in New York 1912 There’s a Reuters article by Paul Taylor today that’s thought provoking, but not along the same line of thought that the writer follows (or the twist he gives to it). Taylor concludes that the IMF would love to wash its hands off Greece, but can’t because it’s subservient to German and Brussels interests (a junior partner). However, he also describes, without realizing it, why and how the Fund can rectify that.
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Russell Lee Store, La Forge, Missouri 1938 • Bond Crash Across The World As Deflation Trade Goes Horribly Wrong (AEP) • Janet Yellen Gives Asia the Jitters (William Pesek) • MSCI Backs Itself Into Corner On China Share Inclusion (Reuters) • China Approves Another 1 Trillion Yuan Local Debt Swap (WSJ) • Greece is Playing an Ultimatum Game (Bloomberg) • Markets Surge On Rumours Of German Compromise On Greece (Guardian) • Germany Against 3rd Greek Bailout Under Any Circumstances: BILD
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Arthur Rothstein General store and railroad crossing, Atlanta, Ohio 1938 • If Things Were Bad in 2008… What’s Coming Will be Far Far Worse (Phoenix) • The Warren Buffet Economy – Why Its Days Are Numbered-Part 2 (David Stockman) • QE ‘Sucking Out’ Liquidity In Markets (CNBC) • Mergers Might Not Signal Optimism (Sorkin) • What’s Wrong with the Administration’s Trade-Deal Arguments (Eric Zuesse) • Why China Is Blowing An Equity Bubble (John Plender) • Chinese Farmers Hope To Harvest
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John Vachon Five o’clock crowds, Chicago 1941 French Economy Minister Emmanuel Macron and German Vice-Chancellor Sigmar Gabriel published a piece in the Guardian last week that instantly revived our long nourished hope for the European Unholy Union to implode and be dissolved, sooner rather than later. The two gentlemen propose a ‘radical’ reform for the EU. Going a full-tard 180º against the tide of rising euroskeptism, the blindest bureaucrats in European capitals are talking about more centralization in the EU.
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Russell Lee Tracy, California. Tank truck delivering gasoline to a filling station 1942 • The Warren Buffet Economy: Why Its Days Are Numbered-Part 1 (David Stockman) • Robert Prechter Is Warning Of A ‘Sharp Collapse’ In Stocks (MarketWatch) • Iceland Warns Hedge Funds Not to Sue as it Seeks Billions in Taxes (Bloomberg) • Greece, Creditors Discuss Extending Bailout in Bid to Break Deadlock (WSJ) • Grexit Would Be “Start Of The End For The Eurozone,” Says Tsipras (DW) •
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Unknown Army of the James, James River, Virginia. 1865 • The Troika Is Supposed To Build Greece Up, Not Blow It Apart (Guardian) • Greece Updating Proposals It Sent To Lenders (Kathimerini) • Young Greek Radicals Don’t Just Want Power – They Want To Remake The World (PM) • VAT Rate Hikes Always Reduce State Revenues (Thanos Tsiros) • Juncker Vents Fury Over Greek Bailout Talks At G7 Summit (Guardian) • If You Think Greece’s Crisis Will End Any Time
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NPC Hessick & Son Coal Co. Washington 1925 • Americans Live With The Austerity Europeans Are So Concerned About (Guardian) • TiSA, TPP and TTIP Will Sideline National Laws, Wikileaks Says (Independent) • Fast-Tracking the TPP-TiSA-TTIP Trinity (Gaius Publius) • Syriza Holds Firm in Polls at 45%, Eight in 10 Still Want Euro (Kathimerini) • Varoufakis Urges Debt Relief After Tsipras Says Greece Deal Near (Bloomberg) • Putin: Speculation On Grexit Is Counterproductive (Kathimerini) • Key Points On Greek Ongoing
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NPC L.E. White Coal Co. yards, Washington 1922 • America Is A Ponzi Scheme: A Commencement Speech For The Scammed (Tom) • IMF Has Betrayed Its Mission In Greece, Captive To Eurozone Creditors (AEP) • Why The Battle Between Athens And Brussels Matters To All Of You (Andreou) • Greece’s Creditors Need A Dose Of Reality (Joe Stiglitz) • Greece: Time For Default And Debt Restructuring (Forbes • Greek PM Rejects ‘Absurd’ Proposal From Creditors (Reuters) • EU To Lend
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