Elvis Presley with parents Gladys and Vernon 1937 • Whatever It Took To Save The Euro (BBG) • US To Cut 755 Us Diplomatic Staff In Russia, Says Putin (AFP) • Despite Appearances, The Idea Of Social Progress Is A Myth (Satyajit Das) • China Bond Buyers Quiz Taxi Drivers to See If Credit Good (BBG) • Uber, Lyft Mangle Rental Cars & Taxis. Other Sectors Next (WS) • Pence Sketches Possible Patriot Deployment In Estonia, Vows US Support
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Gertrude Käsebier Young negro woman, Newport, Rhode Island 1902 • Wall Street Isn’t Ready For A 1,100-Point Tumble In The Dow Industrials (MW) • Dangerous Game: Shorting the VIX (Barron’s) • Zombie Companies Littering Europe May Tie the ECB’s Hands for Years (BBG) • Markets Relax Merrily on a Powerful Time Bomb (WS) • US Economic Resilience Is An Exaggeration (DDMB) • The Quest To Prove Collusion Is Crumbling (WaPo) • What’s The Matter With Democrats – Thomas Frank
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Dorothea Lange Grocery store in Widtsoe, Utah 1936 • Trump’s Mistake In Taking Ownership Of The Stock Market Bubble (LR) • Congress Checkmates Trump (And The American People) (LR) • Russia Hits Back Over Sanctions, Orders US Diplomats To Leave (R.) • EU Explores Account Freezes To Prevent Runs At Failing Banks (R.) • The Great Transatlantic Bond Divergence Unwind (WSJ) • Top German Automakers Sued in US Over Two-Decade ‘Cartel’ (BBG) • Wells Fargo Faces Angry Questions After
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Gordon Burt Bond Street, Wellington, New Zealand c1957 • Senate Blocks ‘Skinny’ Obamacare Repeal Bill In Dramatic Late-Night Vote (CNBC) • Russia Promises Retaliation As Senate Passes Sanctions Bill (G.) • US Housing Bubble 2.0 (Mark Hanson) • Is This The Bubble? (Lance Roberts) • Japan Defense Minister Quits Amid Plunging Support For PM Abe (R.) • Libor, The Scandal-Ridden Financial Benchmark, Doesn’t Have Long To Live (Qz) • Shell’s Profits Treble As Cost Cuts Take Effect (PA) •
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Hieronymus Bosch St. Jerome in Prayer 1482 • Fed Says Balance-Sheet Unwind to Start ‘Relatively Soon’ (BBG) • Time Flies for Draghi and the Bumblebees (BBG) • The Greater Moderation (DDMB) • Thursday Is the ‘Day From Hell’ for Europe’s Stock Watchers (BBG) • Market Hype Triggers ‘New Major Warning’ Sign For Stocks (CNBC) • Financialization and Risk Asymmetry (CHS) • China’s Banks Now Stable, ‘Shadow’ Banking Less Threatening – Moody’s (CNBC) • Investor Howard Marks Says Bitcoin Is
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Jackson Pollock Greyed Rainbow 1953 • The Rise And Fall Of The Property-Owning Democracy (FCFT) • Case-Shiller Home Prices Disappoint But Hit New Record High (ZH) • Australian Housing Affordability the Worst in 130 Years (Soos/David) • There Are More ‘Zombie’ Companies In Europe Now Than Pre-Lehman (CNBC) • Netherlands and UK Are Biggest Channels For Corporate Tax Avoidance (G.) • US Sanctions Have Taken A Big Bite Out Of Russia’s Economy (CNBC) • The Value of Everything (Jim
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Walter Langley Never morning wore to evening but some heart did break 1894 If there’s one myth -and there are many- that we should invalidate in the cross-over world of politics and economics, it‘s that central banks have saved us from a financial crisis. It’s a carefully construed myth, but it’s as false as can be. Our central banks have caused our financial crises, not saved us from them. It really should -but doesn’t- make us cringe uncontrollably to
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Vincent van Gogh Sunflowers 1887 • The Next Financial Crisis Is Parked Out Front (G.) • Bank of England Warns of ‘Spiral Of Complacency’ on Household Debt (G.) • How Big Of A Deleveraging Are We Talking About? (Roberts) • IMF: US Looks Weaker, Rest Of The World Picks Up Economic Slack (CNBC) • Bloated London Property Prices Fuel Exodus (G.) • The Foreclosure ‘Pig’ Moves Through The Housing-Crisis ‘Python’ (MW) • Australian Housing Market At Risk Of Crash
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Jackson Pollock The She Wolf 1943 • We Are Now In The Frightening Endgame (Egon von Greyerz) • China’s Dollar Debt Specter Haunts Fed’s Policy Meetings (R.) • Federal Reserve Faces Prospect Of Global Monetary Policy Tightening (R.) • Bank of Japan Dot Plot Paints a Pessimistic Picture of Inflation (BBG) • European Banks Struggle To Solve Toxic Shipping Debt Problem (R.) • Saudi Economic Pain Will Test Resolve of Prince’s Reform Push (BBG) • While Hammond Looks For
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Ford Madox Brown King Lear and Cordelia c1851 Mea culpa. Yesterday I wrote Scaramouche, Scaramouche, will you do the Fandango?, and not long after publishing it, I figured I missed the target I was going for. Not 100%, and it’s not all bad, as people’s reactions have confirmed, but… The thing is, Trump’s nomination of Anthony Scaramucci as White House Communications Director was not the main point of my piece. Tempting, because everybody knows the Queen song, but not
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