Ben Shahn Sideshow, county fair, central Ohio 1938 • UK’s Four Biggest Banks £155 Billion Short Of Safety (Ind.) • Want To Avoid Recession? Then Shower UK Households With Cash (G.) • A Realistic Look at July’s Nonfarm Payrolls (M2) • The Politically Incorrect Jobs Numbers Everyone is Hushing Up (WS) • Hacked Bitcoin Firm Plans To Spread Losses Across All Users (CNBC) • In China, When in Debt, Dig Deeper (WSJ) • Only In China: Companies Become Banks To
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G.G. Bain Three-ton electric sign blown into Broadway, New York. 1912 • New Tool for Central Banks: Buying Corporate Bonds (WSJ) • UK Interest Rate Cut Is A ‘Hammer Blow’ For Workplace Pensions (G.) • UK Labor Market Enters “Freefall” After Brexit Vote (R.) • China Regulator Tells Banks to Evergreen Loans of Troubled Companies (ET) • For Europe’s Elite the Party Lives On After Brexit (BBG) • Tsipras Eyes Southern EU Alliance To Back Debt Deal (Kath.) • The
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Howard Hollem George Lane April 1942“George Lane, served in the last war with the British Army from Vimy Ridge to the Occupation. Two of his sons are in the American Army, one with the Air Corps in Australia. His daughter volunteered for the Women’s Army Auxiliary Corps. Seven of his nephews are in the British Army” With the Bank of England about to announce its latest set of desperate measures today, the first since the Brexit, I accidentally
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G.G. Bain New York, suffragettes on way to Boston 1913 • Is Deutsche as Dangerous to Financial Stability as Citigroup in 2008? (M2) • Pound Volatility Gauge Climbs as Traders Brace for BOE Rate Cut (BBG) • Britain Faces A Nasty Shock When The Global Energy Cycle Turns (AEP) • Cash Handouts Are Best Way To Boost Growth, Say Economists (G.) • Shock At The ATM: 1000s Of Supplementary Greek Pensions Cut By 21%-46% (KTG) • EU Trade Policy ‘Close
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NPC O Street Market, Washington DC 1925 • Bank Shares Plunge Across Europe As Stress Tests Warn Of Contagion (G.) • Bank of England’s Stress Tests ‘Worse Than Useless’ (Ind.) • Global Bond Market Rally Unravels as Japan Shows Limit to Demand (BBG) • HSBC Reports 29% First-Half Profit Slump (G.) • Bitcoin Sinks After Hackers Steal $65 Million From Exchange (BBG) • The One-Size Euro Might Not Be So Tight After All (BBG) • China Inc. Has $1 Trillion
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Lewis Wickes Hine ‘Hot dogs’ for fans waiting for gates to open at Ebbets Field 1920 • Asia Stocks Fall as Japan Awaits Stimulus (BBG) • Japanese Bonds Are Plunging, Australia’s Surge To Record (BBG) • China Debt Situation Gets Worse And Other EMs Start To Struggle (VW) • China Set For Special Drawing Rights Bond Issues (SCMP) • China Regulator Shutters 10,000 Funds (R.) • Student-Loan Defaulters in a Standoff With Federal Government (WSJ) • The State Of Europe’s
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Dorothea Lange Migratory agricultural worker family fixing tire along California highway US 99 1937 The IMF’s Independent Evaluation Office (IEO) issued a report a few days ago entitled ‘The IMF and the Crises in Greece, Ireland, and Portugal’. It is so damning for managing director Christine Lagarde and her closest associates, that it’s hard to see, certainly at first blush, how they could all keep their jobs. But don’t be surprised if that is exactly what will happen. Because organizations
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Wyland Stanley Marmon touring car at Yosemite 1919 • Abe’s Fiscal Plan Follows a Long Road of Packages That Failed (BBG) • China July Factory Activity Unexpectedly Dips (R.) • China’s Love Affair With U.S. Real Estate Fades (BBG) • For Social Security “Time’s Up – The Pain Must Begin Now” (CH) • Impact Of Poverty Costs The UK £78 Billion A Year (G.) • Did Germany Just Blink? (DQ) • US Shale Producers Weather Oil Price Storm (AEP) •
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