Harris&Ewing Motorcycle postman, Washington, DC 1912 • US Deficit Up for First Time Since 2009 on Spending Surge (BBG) • Why the Economy Doesn’t Roar Anymore (WSJ) • Jim Rogers: Sterling Is In Serious Decline, Could Go Below Dollar (Ind.) • What The United States Needs (Varoufakis) • German Government Has Ruled Out Taking Stake in Deutsche Bank (WSJ) • Varoufakis, Others Deny Hollande’s Russian Drachma-Printing Claim (Kath.) • A Child Born Today Comes Into the World With More Debt
Read More...Notre Dame Gargoyle, Paris France, 19th century Former British diplomat and MI6 ‘ranking figure’ Alastair Crooke quotes my September 26 article “Why There is Trump” so extensively in this article for Consortium News that I thought I might as well post the whole thing here at the Automatic Earth too. The other sources he also quotes -John Gray, Stephen Hadley among them- help to put my points in a solid perspective, which is nice to see. I can only hope
Read More...Lewis Wickes Hine Newsies in St. Louis, N. Broadway and De Soto. 1910 • Fed Creates Junk Bond And Stock Market Bubble (SA) • Draghi Sends Corporate Yields So Negative the ECB Can’t Buy Them (BBG) • There’s No Plateau in a Housing Bubble, Not Even in Canada (WS) • 30% Junk Rally Gives Traders Heartburn (BBG) • China’s Tough Choice: Supporting Growth Or Controlling Debt (CNBC) • China Export Dip Tempts Policy Makers to Keep Weakening Yuan (BBG) •
Read More...G. G. Bain 100-mile Harkness Handicap, Sheepshead Bay Motor Speedway, Brooklyn 1918 • China September Exports Plunge 10%, Imports Down 1.9% (R.) • Wave Of China Property Tightening Hits Home Sales During Holiday Week (R.) • Chinese Firms Unveil Debt Swaps As Beijing Struggles To Reduce Leverage (R.) • US Mortgage Applications Down 6%, Rates Rise (CNBC) • Where Will All the Money Go When All Three Market Bubbles Pop? (CHSmith) • If Europe Insists On A Hard Brexit, So
Read More...NPC “Largest electric locomotive and Congressman John C. Schafer” 1924 • October 14 Is A $7 Trillion Moment of Truth in Markets (BBG) • Pound Sterling Behaves Like An Emerging Market Currency (Ind.) • Royal Bank of Scotland’s Vampire Unit Guilty Of Financial Terrorism (Fraser) • China Weakens Yuan Fixing for Sixth Day, Fuels Depreciation Talk (BBG) • China Banks May Need $1.7 Trillion Capital Injection To Cover Bad Loans (R.) • China Cities Face End of Fairy Tale as
Read More...NPC Grand Palace shoe shining parlor, Washington DC 1921 • “How Do You Have Capitalism Without Any Cost Of Capital?” (BBG) • 7 in 10 Americans Have Less Than $1,000 In Savings (MF) • After Becoming Debt Slaves, Millennials Get Blamed for Lousy Economy (WS) • S&P 500 Triangle Chart Pattern ‘Warns Of A Big Selloff’ (MW) • The Bank of Mom and Dad is Australia’s Fastest-Growing Housing Lender (BBG) • Goldman Warns China’s Outflows May Be Worse Than They
Read More...Elliot Erwitt New York 1955 If the US presidential debate last night showed anything, it must be that just about everyone has dug themselves into their trenches and had no desire whatsoever to ever came out. This seemed especially clear on the Hillary side, which appeared to include -to an extent- ‘moderators’ Anderson Cooper and Martha Raddatz, judging from their interruptions. But, granted, they were the only biased side in the discussion, so we don’t really know what trenches the
Read More...Lewis Wickes Hine Newsies in St. Louis 1910 • Bank of America Has A Recession Warning That’s Downright ‘Scary’ (CNBC) • The Truly Scary Clowns: Central Bankers (Forsyth) • Far From Stepping Back, Top Central Banks Are Set To Double Down (R.) • The World Bank and the IMF Won’t Admit Their Policies Are The Problem (G.) • China Must Wean Itself Off Debt Addiction To Avoid Financial Calamity-IMF (Tel.) • China Fixes Yuan at Six-Year Low Against the U.S.
Read More...NPC Balloon at Shriners convention, Washington DC 1923 • Less Than Half Of US 22-26-Year-Olds Pay Their Own Rent, Health Insurance (F.) • The Coming Collapse Of US Net Worth Will Wipe Out Millions Of Americans (SRSr) • World Leaders Vow To Boost Growth Despite Brexit, Anti-Globalization (CNBC) • Deutsche Bank CEO Cryan Doesn’t Reach Accord With US (BBG) • Qatari Investors Eyeing Control of Deutsche Bank (Spiegel) • Draghi Points to 2019 as Time for Inflation Mission Accomplished (BBG)
Read More...DPC Royal Street, New Orleans 1900 • US Consumer Borrowing Rises by Most in Nearly a Year (BBG) • US Consumer Credit Has Second Biggest Jump On Record (ZH) • US Payrolls Up 156K, Missing Expectations, Unemployment Rate Rises To 5.0% (ZH) • EU Leaders Line Up To Insist UK Will Pay A High Price For Brexit Stance (G.) • Worries Deepen That Globalization Is Hitting the Skids (WSJ) • Worries Grow That China Faces a Perilous Property Bubble (WSJ)
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