Live cooking in Monastiraki Square, Athens Every time I write about my ‘adventures’ in Greece for the Automatic Earth for Athens Fund, which I initiated in June 2015, I think it’s been way too long, but also every time I realize that I’ve already written so much about it (which makes every new article harder to write as well). Still, it’s been three months since the last one, and as always lots has happened; we’re not sitting still. As
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Unknown GMC truck Associated Oil fuel tanker, San Francisco 1935 • I Don’t Think The US Should Remain As One Political Entity – Casey (IM) • Trump Tantrum Looms On Wall Street If Healthcare Effort Stalls (R.) • The US Student Debt Bubble Is Even Bigger Than The Subprime Fiasco (Black) • US Auto-Loan Quality To Deteriorate Further, Forcing Tighter Underwriting (MW) • Oil Price Drops Below $50 For First Time Since OPEC Deal (Tel.) • China Shadow Banks
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Salvador Dali Girl At The Window 1925 If Southern Europeans were a race, say there were something like a Mediterranean race, Jeroen Dijsselbloem would definitely be a racist. Since there is not, the -demissionary- Dutch Finance Minister and -still- president of the Eurogroup of eurozone finance ministers, escapes the label, albeit narrowly. He will still enter history as a misogynist, though. It’s hard to tell if the man is simply really ‘thick’, or there’s something else going on, but
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Ray K. Metzker Philadelphia 1963 • Vancouver Won’t Have A Middle Class Left In The Future (CBC) • Nomi Prins: Financial System Worse Now Than 2007 (EIR) • Kashkari: “A Market Drop Is Unlikely To Trigger A Crisis” (ZH) • Dijsselbloem Says Southern Europe Blew Cash On ‘Drinks And Women’ (Tel.) • Dijsselbloem Not Fit To Be Eurogroup President – Socialist MEP Leader (Pol.) • Dijsselbloem ‘Mail Bomb Target’ (AFP) • Greece Won’t Last In Eurozone In Long Run,
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Fred Stein Streetcrossing, Paris 1935 • To Make America Great Again, Trump Will Have To Make the Dollar Weak Again (MW) • The Fed Gave Trump Just Enough Rope To Hang Himself With – Deutsche (ZH) • S&P 500 Companies Blow $1.7 Trillion On Making Earnings Look Less Bad (WS) • US “Too Big To Fail” Banks Top $1 Trillion – What Happens Next? (ZH) • Australia’s Central Bank Warns Of Growing Risks In Housing, Debt (CNBC) • Australia
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Janine Niepce Paris ca. 1950 • The Central Bank Shell Game (WS) • Using Superannuation For Deposit ‘Irresponsible’ – Keating (Nine) • Chinese Home Prices “Unexpectedly” Rebound (ZH) • The Fed’s Global Dollar Problem (BBG) • Oil Drops On Rising Us Drilling, Failing OPEC Cuts (R.) • Smile For The Auschwitz Selfie: Why Holocaust Memorials Have Failed (NS) • Spy Comments Proof Germany Supports Group Behind Attempted Coup: Erdogan (R.) • Erdogan Accused Merkel Of Using Nazi Methods (DW)
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DPC Broadway from Chambers Street, NYC 1910 • More Proof of Janet Yellen’s Idiocy (David Stockman) • How The Bosses ‘Game’ Workers (Moore) • Oz Parliamentary Budget Office Costs Plan To Kill Off Stamp Duty (SMH) • Russian Parliament Backs Investigation Into US Media (R.) • German Foreign Minister: Turkey Further Away From EU Membership Than Ever (R.) • Turkey Furious As Kurds Rally In Frankfurt With PKK Insignia (AFP) • Fear Stalks Refugees Huddled Along Hungary’s Border (G.)
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Andreas Feininger Production B-17 heavy bomber at Boeing plant, Seattle 1942 • How Bankers Became The Top Exploiters Of The Economy (Michael Hudson) • World Out Of Whack: What’s Next For Global Real Estate? (CE) • Make Big Banks Put 20% Down—Just Like Home Buyers Do (Kashkari) • Deepening EU Banking Crisis Meets Euro-TARP on Angel Dust (DQ) • The Paranoid Attempts To Tie Trump To Russia (Qz) • Clinton Ally Says Smoke, But No Fire: No Russia-Trump Collusion
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DPC Wall Street and Trinity Church, New York 1903 • California Judge Seeks To Prevent Immigration Arrests Inside State Courts (R.) • Collapsing Pensions Will Fuel America’s Next Financial Crisis (MW) • Statoil CEO Warns of Globalization ‘In Reverse’ (BBG) • Treasury’s Mnuchin Says Trump Does Not Want Trade Wars (R.) • Would Trump Budget Cut Meals On Wheels Funding? (BI) • Dutch Election Puts Question Mark Over Eurogroup Chief Dijsselbloem (R.) • Congressman Huizenga Introduces Bill to Oppose
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Marc Riboud Sur les Quais de Paris 1953 The Dutch elections on Wednesday have provided a whole bunch of Orwellian narratives. PM Mark Rutte’s right wing VVD party, actually the ‘business’ -or should we say ‘rent-seekers’ in 2017- party, who lost some 20% of the seats they had obtained in the previous parliamentary election in November 2012, down from 41 to 33 seats, is declared the big winner. While Geert Wilders’ very right wing party, PVV, won 25% more
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