Harris&Ewing State, War & Navy Building, Washington DC 1917 • Those In Power Will Risk War And Civil Unrest To Preserve It (Martin Armstrong) • Irish €14.3 Billion Payments To Bank Bondholders May Have Been Avoidable (TFM) • Why Argentina Consistently, and Unapologetically, Refuses to Pay Its Debts (BBG) • China Unleashes $483 Billion to Stem the Market Rout (Bloomberg) • China Destroyed Its Stock Market In Order To Save It (Patrick Chovanec) • Greece’s Tsipras Shakes Up Cabinet in
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DPC Sternwheeler Mary H. Miller in Mississippi River floating dry dock, Vicksburg 1905 • If China Isn’t a Global Risk, What Is? (Pesek) • China’s State-Owned Banks Commit $200 Billion To Stock Rescue (FT) • Sorry To Burst Your Bubble: Debt, Not Stock Prices, Most Worrisome (Economist) • Greece Should Seize Germany’s Botched Offer Of A Velvet Grexit (AEP) • IMF’s Lagarde: Greek Plan ‘Categorically’ Not Viable (FT) • The Crucifixion Of Greece Is Killing The European Project (Guardian) •
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John Collier Grandfather Romero, 99 years old. Trampas, New Mexico 1943 • China’s Debt-to-GDP Ratio Just Climbed to a Record High (Bloomberg) • China Stock Suspensions Opens Can Of Derivatives Worms (Reuters) • Greek Lawmakers Pass Austerity Bill Despite Strong SYRIZA Dissent (Kathimerini) • EMU Brutality In Greece Has Destroyed The Trust Of Europe’s Left (AEP) • Lexit: The Left Must Now Campaign To Leave The EU (Guardian) • There’s No End In Sight To The Greco-European Drama (Guardian) •
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Russell Lee Street scene. Spencer, Iowa 1936 • China’s Official GDP Charade Is In – And, Surprise! It’s 7% (Quartz) • China’s Economic Troubles Start to Spread (Pesek) • IMF Stuns Europe With Call For Massive Greek Debt Relief (AEP) • The IMF Is Telling Europe the Euro Doesn’t Work (NY Times) • Greece Needs Debt Relief Far Beyond EU Plans – Secret IMF Report (Reuters) • IMF: Greece May Need 30 Years To Recover (Reuters) • Grexit or Jubilee?
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NPC Magruder grocery at Connecticut Avenue and K Street in Washington 1925 The following is a repost from Vancouver Island based Carmen Spagnola’s Numinous Podcast. The sound quality is a bit sketchy at times, but it’s still well worth listening. TNP54: Navigating the Perfect Financial Storm with Nicole Foss Carmen: How do we cope with personal and public debt in an age of global markets and possible Econopocalypse? We’re talking with international energy and finance analyst, Nicole Foss, about how
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F.A. Loumis, Independence (Bastille?!) Day 1906 • 40 Ways China Is Propping Up Its Stock Market (MarketWatch) • China May Tip World Into Recession: Morgan Stanley (Bloomberg) • Yanis Varoufakis Opens Up About His Five Month Battle To Save Greece (NS) • On the Euro Summit’s Statement on Greece: First Thoughts (Varoufakis) • Greek Bailout Rests on Asset Sale Plan That’s Already Failed (Bloomberg) • Greece Is Being Treated Like A Hostile Occupied State (AEP) • Greek Deal Poisons Europe
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Esther Bubley Watching parade to recruit civilian defense volunteers, Washington DC 1943 Personally, like most of you, I always thought Germany, besides all its other talents, good or bad, was a nation of solid calculus and accounting. Gründlichkeit. And that they knew a thing or two about psychology. But I stand corrected. The Germans just made their biggest mistake in a long time (how about some 75 years) over the weekend. Now, when all you have to bring to a
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NPC Fordson tractor exposition at Camp Meigs, Washington DC 1922 • The World’s Awash In $5 Trillion In Excess Liquidity (Bloomberg) • Greece Capitulates to Creditors’ Demands to Cling to Euro (Bloomberg) • Greek Fury Meets Resignation at Demands for Concessions • Greece Wins Euro Debt Deal – But Democracy Is The Loser (Paul Mason) • How The Greeks Could Have The Last Laugh: Adopt The Renminbi (David McWilliams) • The Euro – A Fatal Conceit (MM) • A Greek
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DPC On the beach, Coney Island 1907 Too many voices the past few days are all pointing the same way, and I’ve always thought that is never good. A guessing-based consensus, jumping to conclusions and all that. Look, it’s fine if you don’t have all the answers, no matter how nervous it makes you. What I’m referring to in this instance is the overwhelming conviction that Greece and Tsipras have conceded, given in to the Troika, flown a white flag,
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DPC Up Sutter Street from Grant Avenue, San Francisco 1906 • China’s Real Problem Isn’t Stocks – It’s Real Estate! (Harry Dent) • Greece Crisis: Europe Turns The Screw (Paul Mason) • EU Leaders’ Greece Summit Cancelled As Eurozone Talks Grind On (Guardian) • Greek Bailout Deal Remains Elusive (WSJ) • Germany Prepares ‘Temporary’ Grexit, Euro Project On Brink Of Collapse (Khan) • Germany Trying To Humiliate Greece, Says MEP Papadimoulis (Reuters) • Finland’s Parliament In Favour Of Forcing Greece
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