Prohibition sale June 24 1920 • Hurricane Harvey the Costliest Natural Disaster in US History (H.) • “No Way To Prevent Imminent Explosion” At Texas Chemical Plant (ZH) • Texans To Be Hit With New Insurance Law (Ind.) • A Decade of G7 Central Bank Collusion – And Counting… (Nomi Prins) • It’s Time For Your Reminder That Most Commodities Are Priced In US Dollars (BI) • A Universal Basic Income Would Grow The Economy (Vox) • The Promise
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Elliott Erwitt Crowd at Armistice Day Parade, Pittsburgh 1950 • The Economy Minus Houston (Slate) • Harvey Didn’t Come Out Of The Blue (Naomi Klein) • The US Cities with the Biggest Housing Bubbles (WS) • “Crazy” House Prices Are Firing Up New Zealand’s Voters (BBG) • China’s $2 Trillion of Shadow Lending Throws Focus on Rust Belt (BBG) • Homeowner’s Lawsuit Says Wells Fargo Charged Improper Mortgage Fees (R.) • The Battle for India’s $45 Billion Gold Industry
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MC Escher Still life and street 1937 • China Is Going To Hit A Wall (FuW) • Nomi Prins: Big Bank Concentration and Counterparty Risk Expands (DR) • China’s Central Bank Is Working Hard to Stand Still (BBG) • Pundits And Politicians Are Tacitly Admitting They Lied About Russia (M.) • The Media Is the Villain – for Creating a World Dumb Enough for Trump (Taibbi) • The 5 Steps to World Domination (CHS) • Pure Rubbish? What The
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Lou Reed New York City 1966 • Harvey’s Cost Reaches Catastrophe: Only 15% Of Homes Have Flood Insurance (BBG) • Gasoline Surges, Oil Holds Near $48 as Harvey Shuts Refineries (BBG) • Mammoth Flood Disaster in Houston: More Rain Yet to Come (WU) • The Coming Collapse Of China’s Ponzi Scheme Economy (SCMP) • What’s Driving The Growth In US ‘Shadow Banking’ (CBR) • Volatility Makes a Comeback (Rickards) • YouTube “Economically Censors” Ron Paul (ZH) • Should The
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Henri Cartier-Bresson Trafalgar Square on the Day of the Coronation of George VI 1937 The Jackson Hole gathering of central bankers and other economics big shots is on again. They all still like themselves very much. Apart from a pesky inflation problem that none of them can get a grip on, they publicly maintain that they’re doing great, and they’re saving the planet (doing God’s work is already taken). But the inflation problem lies in the fact that they
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Elliott Erwitt Downtown Hat Shop Window, Pittsburgh 1950 • Phillips Curve Doesn’t Help Forecast Inflation, Fed Study Finds (BBG) • Where Do Consumers Spend The Most Money? (Mish) • Should California Spend $3 Billion To Help People Buy Electric Cars? (LAT) • Tesla: A Canary in the Wall Street Coal Mine (Barron’s) • UK Labour Party Makes Dramatic Shift On Brexit And Single Market (G.) • Controlled Demolition (Jim Kunstler) • The War That Time Forgot (CP) • It’s
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Vincent van Gogh Self-Portrait with Straw Hat Aug-Sep 1887 • Draghi Warns Of Serious Risk To Global Economy From Rising Protectionism (CNBC) • Yellen and Draghi Both Defend Post-Crisis Financial Regulation (BBG) • Central Banks’ Pursuit Of Inflation Has Turned Sisyphean (CNBC) • IMF: We See A Broad-Based Global Recovery (CNBC) • Rickards: September Meltdown Ahead (DR) • Negative Interest Rates Have Come To America (Black) • Adults Take Over at Uber, Cost Cutting Starts (WS) • Sears Revenues
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Sergio Larraín Valparaiso Passage Bavestrello 1952 • 78% of Americans Live Paycheck To Paycheck (CNBC) • Systemic Banking Fraud Means Next Crisis Will Be Worse (Feierstein) • Did the Economy Just Stumble Off a Cliff? (CHS) • Central Bank Balance Sheets Are Headed for a Great Divergence (BBG) • Low World Inflation Dogs Central Bankers, Even As Economies Grow (R.) • Amazon’s Plans to Cut Food Prices Will Be a Headache for the Fed (BBG) • Has The Fed
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Egon Schiele Meadow, Church and Houses 1912 • Wall Street Banks Warn Downturn Is Coming (BBG) • Big US Banks Could See Profit Jump 20% With Deregulation (BBG) • ECB Chief Draghi: QE Has Made Economies More Resilient (BBC) • Yellen’s Coming Speech Could Mark The ‘End Of An Era’ (BI) • Here’s Why New Home Sales Tanked (CNBC) • Autos Put Economic Downside Risks on Full Display (DDMB) • Merkel Aide Says Germany Has ‘Vital Interest’ in Diesel
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William Merritt Chase Back Of A Nude 1888 • Banks Earn Record Profits in Q2, Savers Sacrificed: FDIC (WS) • The Silent Crisis in US Housing Finance (Whalen) • The New Economic Science Of Capitalism’s Slow-Burn Energy Collapse (Ahmed) • Switch to Renewables Won’t End the Geopolitics of Energy (BBG) • No U.S.-Russia Cyber Unit Without Trump Notifying Congress (R.) • The Imperial Collapse Clock Ticks Closer to Midnight (Krieger) • The Confederate General Who Was Erased (Dailey) •
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