Dorothea Lange Water supply in squatter camp near Calipatria CA 1937 • China’s Central Bank Says No Basis for Continued Yuan Decline (BBG) • Why Kuroda’s ‘Bazooka’ May Be Out of Ammunition (WSJ) • BoJ Deputy Says Japan Needs Bolder Measures To Unlock Growth (FT) • Swedish Central Bank Move Creates a Global Shudder (NY Times) • Bond Investors Looking Out for Stimulus Hint in Draghi Testimony (BBG) • There Are Still a Few Tricks Seen Up Central Bankers’ Sleeves
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DPC New Orleans milk cart1903 • Abenomics Is In Poor Health After Nikkei Slide, And It May Be Terminal (G.) • Yen’s Best Two-Week Run Since 1998 Just the Start (BBG) • The World’s Hottest Trade Has Suddenly Turned Ice-Cold (CNBC) • Credit Default Swaps Are Back As Investors Look For Panic Button (BBG) • ‘Austrians Need Constitutional Right to Pay in Cash’ (BBG) • The Shipping Industry Is Suffering From China’s Trade Slowdown (BBG) • China Central Bank: Speculators
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Crowd outside Wall Street Stock Exchange on BlackThursday Oct 24 1929 What we see happening today is why we called our news overview the “Debt Rattle” 8 years ago. The last gasps of a broken system ravished by the very much cancer-like progress of debt. Yes, it took longer than it should have, and than we thought. But that’s pretty much irrelevant, unless you were trying to get rich off of the downfall of your own world. Always a noble
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NPC Ezra Meeker’s Wild West show rolls into town, Washington DC 1925 • Japanese Stock Market Plunges 5% As Global Rout Gathers Pace (Guardian) • Asian Shares Slip As Bank Fears Add To Global Gloom (Reuters) • Global Assault on Banks Intensifies as Investors Punish Weakness (BBG) • Emerging Stocks Rout Deepens on Risk Aversion as Currencies Drop (BBG) • Yuan Declines Most in Two Weeks as Global Selloff Saps Sentiment (BBG) • Asia’s Rich Advised to Buy Yen as
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Harris&Ewing National Capital digs out after storm Jan 14 1939 • Europe Stocks Head for Worst Drop Since August as SocGen Plunges (BBG) • Hong Kong Stocks Fall 4% in Worst Start to Lunar New Year Since ’94 (BBG) • Yellen: Not Sure We Can -Legally- Do Negative Rate (CNBC) • How Low Can Central Banks Go? JPMorgan Reckons Way, Way Lower (BBG) • Kyle Bass Says China Bank Losses May Top 400% of Subprime Crisis (BBG) • Bass: China
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Arthur Rothstein Scene along Bathgate Avenue in the Bronx 1936 • Europe’s Dead Cats Bounce, Deutsche Up 10% (BBG) • Surging Credit Risk for Banks a Major Issue in European Markets (WSJ) • Banks Eye More Cost Cuts Amid Global Growth Concerns (Reuters) • Europe Banks May Face $27 Billion Energy-Loan Losses (BBG) • European Banks: Oil, Commodity Exposure As High As 160% Of Tangible Book (ZH) • Europe’s ‘Doom-Loop’ Returns As Credit Markets Seize Up (AEP) • Options Bears
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Arthur Rothstein Going to church to pray for rain., Grassy Butte, North Dakota Jul 1936 • ‘Panic Situation’ As Asia Stocks Tumble Amid Fears Of New Global Recession (G.) • Global Bond Rally Near ‘Panic’ Level With Japan Yield Below Zero (BBG) • Japan’s 10-Year Yield Falls Below Zero for the First Time (BBG) • US Bank Stocks And Bonds Clobbered By Recession Worry (Reuters) • Investors Dump Stocks, Seek Safe Havens As Bank Fears Flare (Reuters) • Banks Bonds
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DPC City Hall subway station, New York 1904 • Deutsche Bank Is Shaking To Its Foundations (SI) • Why A Selloff In European Banks Is So Ominous (MW) • Lending To Emerging Markets Comes To A Halt (FT) • What the Heck is Going On in the Stock Market? (WS) • Dot Com 2.0 – The Sequel Unfolds (St.Cyr) • CEOs, Venture Backers Lose Big As Linkedin, Tableau Shares Tumble (Reuters) • Record Numbers Of Longs And Shorts Are Piling
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DPC Chamber of Commerce, Boston MA 1904 • $100 Trillion Up in Smoke (Mauldin) • As Big Oil Shrinks, Boards Plot Different Paths Out Of Crisis (Reuters) • Exxon Ends Share Buybacks – It Must Be Acquisition Time (Forbes) • Hess Oil: A “Folly For The Ages” (ZH) • Debt, Defaults, And Devaluations: A Crash Like Nothing Before (Telegraph) • Our Dysfunctional Monetary System (Steve Keen) • Why The Bulls Will Get Slaughtered (Stockman) • Obscure Chinese Firm Dives Into
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NPC Shoomaker’s saloon at 1311 E Street N.W. Washington DC 1917 • Oil Market Spiral Threatens To Prick Global Debt Bubble, Warns BIS (AEP) • Gundlach Says Financials Below Crisis Prices ‘Frightening’ (BBG) • Global Financial System Risk Is Soaring Worldwide (ZH) • Standard Chartered Down 57%, Returns to 1998 (WSJ) • US Exports Fell In 2015 For First Time Since Recession (AP) • Oil Rout Threatens Vicious Cycle for US Economy (WSJ) • The Chart of Doom: When Private
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