Louise Rosskam General store in Lincoln, Vermont 1940 • US on Road to Third World (Paul Craig Roberts) • Janet Yellen Just Got Some Pretty Bad News (CNBC) • Fed’s Updated Model of Economy Suggests It’s Time to Raise Rates (Bloomberg) • China Has Created A Steel Monster And Now Must Tame It (Reuters) • VW Sticks to $24.2 Billion China Spending Plan Amid Cost Cuts (Bloomberg) • Chevron to Cut Up to 7,000 Jobs (WSJ) • Saudi Arabia Credit
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Arthur Rothstein Migratory fruit pickers’ camp in Yakima, Washington 1936 • It Is Already Too Late To Scrap China’s One-Child Policy (AEP) • Li Floats New China Five-Year Growth Minimum of Around 6.5% (Bloomberg) • China Steel Industry Outlook ‘Worst Ever Amid Unprecedented Losses’ (Zero Hedge) • 28 Chinese Investors In Fanya Metal Exchange Go Missing After Protest (Quartz) • Shell Has Biggest Loss in More Than a Decade on Price Slump (Bloomberg) • London House Prices Most Overvalued In
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Harris&Ewing National Emergency War Garden Commission display, Wash. DC 1918 • Fed Keeps Interest Rates Unchanged But Hints At December Rise (Guardian) • Fed Keeps December Rate Hike in Play (Hilsenrath) • The Death Of Monetary Policy In 1 Dismal Chart (Zero Hedge) • Inflation Fixated Central Banks Have Lost Their Way (Stephen Roach) • The Unnatural Rate Of Interest -Ultra Wonkish- (Steve Keen) • Britain Is Heading For Another 2008 Crash: Here’s Why (David Graeber) • Paris Climate Deal
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Lewis Wickes Hine Newsies Gus Hodges, 11, and brother Julius, 5, Norfolk VA 1911 • Weak US Business Spending Plans Point To Slower Economic Growth (Reuters) • Chinese Consumer Sentiment Indicator Slumps In October (CNBC) • Japan’s Retail Sales Fall Piles Pressure On Bank of Japan (CNBC) • China Steel Head Says Demand Slumping at Unprecedented Speed (Bloomberg) • Why Don’t We Save Our Steelworkers The Way We Saved Bankers? (Chakrabortty) • In China’s Alleyways, Underground Banks Move Money (WSJ)
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‘Daly’ Store, Manning, South Carolina 1941 • What’s Happened To International Bank Lending? (WEF) • Greek Creditors Refuse To Make Next Loan Payment (Zero Hedge) • ‘Giant Wave of Money’ Headed for Sweden Creates Policy Nightmare (Bloomberg) • Oil Supply Hits 85-Year High in US (Bloomberg) • Bakken Oil Companies Declare Bankruptcy (BT) • Economists Prove That Capitalism Is Unnecessary (Steve Keen) • Keen vs. Keen: Will the Real Steve Keen Please Stand Up? (Mish) • Bernanke’s Bogus Contra-Factual, 1:
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LIFE How to kiss 1942 On the day after a bunch of European countries headed into yet another -emergency- meeting, and as the refugee situation in Greece and the Balkans was more out of hand than ever before, not in the least because the numbers of refugees arriving from -in particular- Turkey are larger than ever, let’s reiterate what should always be the guiding principle driving the response to issues like this. That is, the only way to approach a
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Wyland Stanley Chalmers touring car 1922 • US Economic Data Has Never Been This Weak For This Long (Zero Hedge) • US Companies Warn of Pending Recession (WSJ) • EU Agrees To Tighten Border Controls And Slow Migrant Arrival (AP) • Tensions Rise Between European Nations Over Refugee Crisis (Bloomberg) • Greece Says Refugees Are Not Enemies, Refuses to Protect Borders From Them (WSJ) • European Trust: The Perfect Storm (Mungiu-Pippidi) • China Containerized Freight Index Collapses to Worst Level
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NPC Capitol Refining Co. plant, Relee, Alexandria County 1925 • Pensioners Prosper, The Young Suffer. UK Social Contract Is Breaking (Willetts) • Putting China’s “6.9% GDP Growth” In Context (Lebowitz) • China Premier Says 7% Growth Goal Never Set In Stone (Reuters) • China Communist Party Paper Says Country Should Join TTIP (Reuters) • Cyber Attacks Bigger Threat To Our Banking System Than Bad Debts (Luyendijk) • The Age Of The Torporation (Economist) • Listen – Is That The Sound
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William Henry Jackson Hospital Street, St. Augustine, Florida 1897 • China Cuts Interest Rates, Reserve Ratios to Counter Slowdown (Bloomberg) • China Interest Rate Cut Fuels Fears Over Ailing Economy (Guardian) • Why The Chinese Rate Cut Will Not Slow China’s Economic Decline (Coward) • Reactions To Rate Cut: “China Is Getting More And More Desperate” (Zero Hedge) • China Takes ‘Riskiest’ Step by Ending Deposit-Rate Controls (Bloomberg) • Draghi’s Signal Adds $190 Billion to Negative-Yield Universe (Bloomberg) • Eurozone
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DPC Harlem River Speedway and Washington Bridge, New York 1905 • ECB Rings The Bell For Pavlov’s Market Dogs (AFR) • ECB President Mario Draghi Reignites Currency War Talk (AFR) • The Great Negative Rates Experiment (Bloomberg) • Every Day’s a Crisis for Europe as Merkel Heads Back to Brussels (Bloomberg) • Oil’s Big Slump Looks Like the 1980s ‘Lost Decade’ (Bloomberg) • As China Weakens, Recession Stalks North Asia (Reuters) • Credit Suisse Exiting Bond Role Sounds Alarm for
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