Andre Kertesz Bumper cars at amusement park in Neuilly-sur-Seine, near Paris 1930 I read a lot, been doing it for years, about finance and affiliated topics (a wide horizon of them), which means I’ve inevitably seen a wholesale lot of nonsense fly by. But for some reason, and I think I know why, Q3 2016 has been gunning for a top -or bottom- seat in that regard, and Q4 is looking to do it one better/worse. Apart from the fast
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G. G. Bain Katherine Stinson, “the flying schoolgirl,” Sheepshead Bay Speedway, Brooklyn 1918 • IMF, Global Finance Leaders Fret Over Populist Backlash (R.) • Donald Trump Makes History With Zero Major Newspaper Endorsements (Yahoo) • The Great Debt Unwind: US Business Bankruptcies Soar 38% (WS) • Pound Falls 10% In ‘Insane’ Asian Trading Mystery (G.) • California Overtakes UK To Become ‘World’s Fifth Largest Economy (Ind.) • China’s Housing Boom Looks a Lot Like Last Year’s Stocks Bubble (BBG) •
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Lewis Wickes Hine 12-year-old newsie, Hyman Alpert, been selling 3 years, New Haven CT 1909 • World Is Swimming In Record $152 Trillion In Debt: IMF (R.) • Australia Private-Sector Debt Rises Faster Than Almost Anywhere Else (Aus.) • One-Third Of European Banks Fail IMF Stress Test: (WSJ) • EU Readies Plan for Derivatives Clearing Crisis, the New Too-Big-to-Fail (BBG) • The Noose Is Tightening Quickly On The Global Economy (Alt-M) • Fed’s Fischer Says Low Neutral Rate A Sign
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DPC El Paso, Texas 1903 • Existential Threat To World Order Confronts Elite At IMF Meeting (BBG) • US High-Yield Default Rates Hit 6-Year High (S&P) • Gundlach Says Deutsche Bank Shows Harm of Negative Rates (BBG) • Jeff Gundlach Thinks A ‘Pivot’ Is Coming To Economic Policy (BI) • Pound Sinks To 1985 Low, Is Likely ‘Going To Go Down The Tubes’ (CNBC) • Manhattan Apartment Sales Plunge 20% (BBG) • Rescue of Italy’s Monte dei Paschi Gets ‘Dark’
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Howard Hollem Assembly and Repairs Department Naval Air Base, Corpus Christi 1942 • ‘I Defy Any Analyst To Tell Me What Deutsche’s Derivatives Are Worth’ (Price) • IMF and ECB Don’t Even See Their Destruction of Greece as a Failure (M. Hudson) • The New Confessions of an Economic Hit Man (Yes!) • Median S&P 500 Stock Is More Overvalued Than At Any Point In History (Hussman) • TARGET2 Shows Europe’s Banking Crisis Is Escalating Again – Fast (Gerifa) •
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NPC Congressman John C. Schafer of Wisconsin 1924 • Is the U.S. Dollar Set to Soar? (CH Smith) • Pound Nears Three-Decade Low as May Sets Date for Brexit Trigger (BBG) • China Seeking To Succeed Where Japan Failed In Reserve Currency Push (BBG) • Deutsche Bank Races Against Time To Reach US Settlement (R.) • German Economy Minister Accuses Deutsche Bank Of Hypocrisy (Pol.) • It’s Not Just Deutsche. European Banking is Utterly Broken (Tel.) • Kuroda Blamed For
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DPC Belle Isle Park Aquarium, Detroit 1905 • Some Comments On The NYT Story About Donald Trump’s Tax Returns (Hempton) • US Government Deficit Numbers are a BIG Lie (WS) • Six (Ex-)Deutsche Bank Executives Charged in Monte dei Paschi Probe (BBG) • ‘Merkel Cannot Afford To Bail Out Deutsche Bank’ (R.) • Theresa May To Propose ‘Great Repeal’ Bill To Unwind EU Laws (G.) • Stupefied: How Organisations Enshrine Collective Stupidity (Aeon) • How Brussels Is Obstructing The Prosecution
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Lewis Wickes Hine Drift Mouth, Sand Lick Mine, near Grafton, West Virginia 1908 • Why You Should Be Skeptical Of That $5.4 Billion Deutsche Settlement (CNBC) • A Deutsche Bank Settlement Rumor Overshadows US Equities (R.) • Deutsche Bank Takes a Lashing From the German Public (WSJ) • Trump Will Win, Unless the S&P Rallies in October (BBG) • Global Trade Crashes Back To “Very Old Normal” (ZH) • Global Corporate Default Tally By Far Highest Since 2009 (Barron’s) •
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