DPC Grace Church, New York 1905 • Majority Fears Future Generations ‘Will Never Be Able To Buy A Home’ (G.) • When Older People Do Better Than Those of Working Age (WSJ) • ECB Doing Whatever It Takes Can’t Push Euro-Area Banks to Lend (BBG) • Emerging-Market Currencies Fall Back to Earth After Fed Euphoria (BBG) • China Central Bank Governor Warns Over Corporate Debt (FT) • PBOC See-Saws -Again- On Yuan Rate Guidance (CNBC) • China Has a $590
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NPC Kidwell’s Market on Pennsylvania Avenue, Washington DC 1920 • World Is ‘Overloaded On Monetary Policy’, Says OECD (Tel.) • Central Banks Are Already Doing The Unthinkable – You Just Don’t Know It (Tel.) • Helicopter Drops By Stealth (Tel.) • Buyback Blackout Period Starts Monday (ZH) • Another False Oil Price Rally: Crossing A Boundary (Berman) • China’s Property Rally Has ‘Reached A Tipping Point’ (Forbes) • China’s Bottom Line to Avoid Systemic Risks, Vice Premier Says (BBG) •
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Jack Delano Union Station, Chicago, Illinois 1943 • Foreign Governments Dump US Debt At Record Rate (CNN) • If Caterpillar Data Is Right, The Industrial Depression Was Never Worse (ZH) • Shades of Plaza Accord Seen in Barrage of Stimulus After G-20 (BBG) • The Yellen Fed Risks Faustian Pact With Inflation (AEP) • The End of the Chinese Miracle (FT) • Traditional Economics Failed. Here’s a New Blueprint. (Evo.) • UK Minister Resigns From Cabinet Over Disability Cuts (Guardian)
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Idomeni: where human rights go to die • Either Something Spooked The Fed Or There Is A “Central Bank Accord” (ZH) • Next Financial Crisis Could Overwhelm World’s Defenses, IMF Says (BBG) • Global Currencies Soar, Defying Central Bankers (WSJ) • Yen Rally Is Piling Pressure On BOJ (CNBC) • China Adjusts Yuan by Biggest Margin Since November (WSJ) • Bank IPOs Expose Dark Arts Of Chinese Finance (Reuters) • China Home Prices Rise Most In 2 Years, Big Cities
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Christopher Helin Kissel military Highway Scout Kar at Multnomah Falls, Oregon 1918 • US Lost 30% Of Manufacturing Jobs Between 1998 And 2016 (WaPo) • Rich Countries Have A $78 Trillion Pension Problem (CNBC) • The Budget That Wasn’t (Halligan) • Asia Cheers as Yellen Succumbs to Cry-Bullies (Barron’s) • China’s Exporters Struggle as Yuan Swings Disrupt Business (BBG) • China Banks Face Credit Risks From Ties To Wealth Management Products (CNBC) • America’s No. 1 Coal Miner to Seek
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William Henry Jackson Camp wagon on a Texas roundup 1901 • Chinese PM Li Keqiang Says It Is ‘Impossible’ to Miss Economic Targets (WSJ) • Chinese Buying In US Rekindles Memories Of Japan’s 1980s Merger Mania (Forbes) • China Mixes Cash, Coercion to Ease Labor Unrest (WSJ) • China To Target Shadow Lending For Housing Down-Payments (BBG) • Asia Hedge Funds Had Worst-Ever Start to Year (BBG) • Retirement Is Impossible With Negative Rates (Mauldin) • JP Morgan Brings Back
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John M. Fox WCBS studios, 49 East 52nd Street, NYC 1948 • Stocks: Consensual Hallucination (WS) • Mineworkers’ Protests Shake Chinese Leaders (CW) • China Ocean Freight Indices Plunge to Record Lows (WS) • Yuan Loses Its Luster In Global Trade (WSJ) • Chinese Investors Increase Buying in the US (WSJ) • China Drafts Rules for Tobin Tax on Currency Transactions (BBG) • Bank of Japan Holds Fire on Stimulus, Negative Rate Unchanged (BBG) • ECB Rate Cuts Help Spanish
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John M. Fox WCBS studios, 49 East 52nd Street, NYC 1948 • Marc Faber: Central Banks Will End Up Buying All Financial Assets (CNBC) • There’s Only One Buyer Keeping the S&P 500’s Bull Market Alive (BBG) • The Central Bankers Are Crazy & Public is Out Of Its Mind (Armstrong) • The Effects of a Month of Negative Rates in Japan (BBG) • Bank Of Japan Scrambles To Find Positives In Negative Rates (Reuters) • There Is A Limit
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NPC Fred Haas, Rhode Island Avenue NE, Washington, DC 1924 • The Fed Caused 93% Of The Entire US Stock Market’s Move Since 2008 (Yahoo) • ‘Negative Rates Confirm The Failure Of Globalization’ (DB) • China Economic Data Paints Gloomy Picture (WSJ) • China’s Restructuring Will Not Lead To Mass Layoffs: Regulator (Reuters) • China ‘Won’t Bring Back Stock Market Circuit Breaker For Years’ (Reuters) • Iran To Join Oil Freeze Talks Only After Raising Output To 4 mbpd (Reuters)
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Dorothea Lange American River camp, Sacramento, CA. Destitute family. 1936 • ECB’s Draghi Plays His Last Card To Stave Off Deflation (AEP) • Draghi Can Cut Borrowing Costs, But He Can’t Make Companies Borrow (BBG) • Japan, An Economics Lab Where Theories Go to Die (BBG) • China May Rein in Wage Increases to Boost Economy (WSJ) • Germany Confirmed To Be Back In Deflation (FT) • Australians Have Amnesia On Housing And Banks (BS) • Americans’ Home Wealth Recovers
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