Vincent van Gogh Branches Of An Almond Tree In Blossom in Red 1890 Think about it for a second: If America -and UK, France- were to announce today that they would immediately cease bombing Syria, Iraq, Libya, Afghanistan, would the US be any less safe? Would Europe? How about if we’d promise to spend all the billions saved by not throwing bombs on them, to help rebuild these countries? Would that make us less safe, from terrorists, from anyone at
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DPC Elks Temple (Eureka Club), Rochester, NY 1908 • How Slow Is US Economic Growth? ‘Close To Zero’ (CNBC) • US Non-Consumer Economy Is Now In A Recession (ZH) • US Government Entitlements – Sixth Biggest Economy On Earth (Stockman) • Helicopter Money Talk Takes Flight As Bank of Japan Runs Out Of Runway (R.) • No Clean Bill Of Health For EU Banks In Stress Test (R.) • Ireland Jails Three Top Bankers Over 2008 Banking Meltdown (R.) •
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Jack Delano Street scene on a rainy day in Norwich, Connecticut 1940 • US GDP Grew a Disappointing 1.2% in Q2 As Q1 Revised Down to 0.8% (WSJ) • Rescue Package In Place For Europe’s Oldest Bank, Weakest In Stress Tests (G.) • ECB Bond Buying Risks Blocking Debt Restructurings (R.) • Chinese Capital Outflows May Still Be Happening – But In Disguise (BBG) • Bank of Japan’s Quest for 2% Inflation (BBG) • The Bank of Japan Is At
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Dorothea Lange Crossroads grocery store and filling station, Yakima, Washington, Sumac Park 1939 • IMF: Disastrous Love Affair With Euro, Apologies For Immolation Of Greece (AEP) • Global Trade Is Not Growing Slower – It’s Not Growing At All (WEF) • Not Even Fiscal Stimulus Will Save Global Growth – Deutsche Bank (BBG) • Kuroda’s $26 Billion Gift to Stock Market Underwhelms Investors (BBG) • Bank of Japan Blames Brexit As It Unleashes More Monetary Stimulus (G.) • Japan Sees
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Marion Post Wolcott Main Street. Sheridan, Wyoming 1941 • Beijing’s Property Sales Surge 65% In 2015 (R.) • How a Chinese Highway Became a Boulevard of Broken Dreams (WSJ) • China Shadow Banking Assets Grew 30% In 2015 (R.) • An Auction House Learns the Art of Shadow Banking (BBG) • Japan’s Real Problem Is Too Much Debt (720G) • Can the World Deal With a New Bank Crisis? (Satyajit Das) • Wolfgang Schäuble Bails Out Spain, Portugal (Pol.) •
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John Vachon Five o’clock crowds, Chicago 1941 • Japan PM Unveils More Than $266 Billion Stimulus (AFP) • Deutsche Bank’s Q2 Net Income Plunges Nearly 100% Year-On-Year (CNBC) • China’s Debt Problem May Be Worse Than Expected, Moody’s Warns (CNBC) • China Stocks Tumble on Report of Wealth Management Product Curbs (BBG) • Hong Kong Imports/Exports Plunge in Line with Japan and China (R.) • A Refinery-Driven Correction Is Upon Us’ (BBG) • Cameron Was Right, Britain Is Broken (G.)
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Warren K. Leffler Ku Klux Klan members supporting Barry Goldwater, San Francisco 1964 John McDonnell, UK Shadow Chancellor of the Treasury (at least it sounds important) appealed to his -Labour- party on Sunday morning TV to “stop trying to destroy the party”, and of course I’m thinking NO, please don’t stop, keep at it, it’s so much fun. When you watch a building collapse, you want it to go all the way, not stop somewhere in the middle and get
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Theodor Horydczak Sheaffer fountain pen factory, Fort Madison, Iowa 1935 • Japan’s Exports Decline for 9th Straight Month, Imports Plunge 18.8% (BBG) • Beware, Oil Bulls: Demand Is About To Fall Off A Cliff (BBG) • Peak Oil ‘Demand’ & The Duelling Narratives Of Energy Inventories (ZH) • What Happens When The Bond Bubble Finally Pops (IceCap) • With Kuroda Under Pressure To Increase Stimulus Again, Dissenters Appear (ZH) • Italy Insists There’s ‘No Banking Problem’ As Stress Tests Loom
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Milton Greene “Actress Marilyn Monroe in bed” 1955 • China’s Growth Sucks In More Debt Bucks For Less Bang (R.) • G20 Will Use ‘All Policy Tools’ To Protect Growth As Brexit Looms (R.) • OECD’s Gurria Says No Other EU Country Will Consider Exit After Brexit (CNBC) • EU Considers Migration ‘Emergency Brake’ For UK For Up To 7 Years (O.) • Mortgages Issued By Greek Banks Declined 99% In Past Decade (Kath.) • 5 Reasons Why Trump Will
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Jack Delano Conductor picks up message from operator on the Atchison, Topeka & Santa Fe 1943 • Britain’s Economy Shrinking At Fastest Rate Since 2009 (G.) • Chinese Companies are Turning Japanese (BBG) • Lagarde Seen Likely to Avoid Jail Time, Keep IMF Job Amid Trial (BBG) • The Great Period of Instability (G&M) • Inequality: The Nexus of Wealth and Debt (Coppola) • The Rise and Fall of the Petrodollar System (Grass) • Trumped! A Nation On The Brink
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