Roger Viollet Great Paris Flood, Avenue Daumesnil 1910 • Fed Fears New Record High Credit Bubble – Danielle DiMartino Booth (USAW) • Global Debt Is Rising, Especially in Emerging Economies (St. Louis Fed) • Pressure on US Households Intensifies (DDMB) • Zombie Firms Roam Europe Because Banks Help Keep Them Undead • China Is Pumping A Lot Of Cash Into Its Economy To Calm Investors (CNBC) • Chinese Investors Eye Leverage to Juice U.S. CLO Returns (BBG) • China’s
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Arthur Rothstein Quarter Circle U Ranch, Big Horn County, MT 1939 • UK Water Firms Admit Using Divining Rods To Find Leaks And Pipes (G.) • UK MPs Vote ‘That Animals Cannot Feel Pain Or Emotions’ (Ind.) • UK Environment Department Using 1,400 Disposable Coffee Cups A Day (G.) • Biggest Bubble Ever? (ZH) • China Is On Course To Become One Of The World’s Most Indebted Nations (BBG) • China’s Growth Miracle Has Run Out Of Steam (Pettis)
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Notting Hill Gate Station, London 1860s • China’s $15 Trillion Problem: Investors Don’t Believe in Losses (BBG) • Household Debt, Size Of Home Loans A Worry – Australia Regulator (ND) • Fiscal Sundown In America, Part 1 (Stockman) • The Approaching Silicon Valley Meltdown (St. Cyr) • Merkel Prefers Fresh Elections To Minority Government As Talks Fail (G.) • Italy To Go Beyond GDP, Measure La Dolce Vita (BBG) • Your Retirement Cash May Be In The Caymans. Can
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Stanley Kubrick Laboratory at Columbia University 1948 • Banks Show An Almost Autistic Disregard For The Law – Australia Senator (Abc) • ECB Proposes End To Deposit Protection (GC) • Europe Faces a Hamstrung Germany as Merkel’s Coalition Bid Fails • 3 Things That Could Destroy One Of The Greatest Stock Rallies Of All Time (BI) • China’s Clampdown On Shadow Banking Hits The Stock Market (BBG) • Mugabe Faces Impeachment as He Holds on as Zimbabwe Leader (BBG)
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Wyland Stanley Pontiac coupe at San Francisco Palace of Fine Arts 1935 • A Fiscal Disappointment – Tax Bill (Lebowitz) • Mt. Gox’s Bitcoin Customers Could Lose Again (R.) • The Coming Economic Downturn In Canada (MN) • How a Half-Educated Tech Elite Delivered Us Into Chaos (Naughton) • Europe Turns On Facebook, Google For Digital Tax Revamp (AFP) • When Unpaid Student Loan Bills Mean You Can No Longer Work (NYT) • Subways May Be the Latest Casualty
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Rembrandt van Rijn The Three Crosses 1653 John Rubino recently posted a graph from Bob Prechter’s Elliot Wave that points to some ominous signs. It depicts the S&P 500, combined with consumer confidence and savings rate. As the accompanying video at Elliott Wave, What “Too Confident to Save” Means for Stocks, shows, when the gap between high confidence and low savings is at its widest, a market crash -often- follows. In 2000, the subsequent crash was 39%, in 2007
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Henri Cartier Bresson Juvisny, France 1938 • Consumers Are Both Confident And Broke (John Rubino) • You Have Been Warned (Lance Roberts) • Norway Plan to Sell Off $35 Billion in Oil, Gas Stocks Rattles Markets (BBG) • The World’s Biggest Wealth Manager Won’t Touch Bitcoin (BBG) • Trump’s Saudi Scheme Unravels (Alastair Crooke) • Saudi ‘Corruption’ Probe Widens: Dozens Of Military Officials Arrested (ZH) • Hariri Arrives in Paris With Family Amid Saudi-Iran Tensions (BBG) • Qatar Says
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Arthur Rothstein Night view, downtown section. Dallas, Texas 1942 • America’s Racial Wealth Gap Is Staggering – And Government-Created (BI) • Australia’s Private Debt Juggernaut Rolls On (LFE) • John Malone says Amazon is a ‘Death Star’ (CNBC) • Einhorn Says Issues That Caused the Crisis Are Not Solved (BBG) • Corporate Zombies Are Threatening The Eurozone Economy (ZH) • Wall St. Bankers Secretly Used Chat Rooms To Rig Treasury Bond Trades (NYP) • Electricity Consumed To Mine Bitcoin
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Leonardo da Vinci Salvator Mundi 1513 • Landmark Study Links Tory Austerity To 120,000 Deaths (Ind.) • Jeremy Corbyn Will Inevitably Become UK Prime Minister – Varoufakis (BI) • Why Care More About Benefit Scroungers Than Billions Lost To The Rich? (G.) • No Evidence Of Russian Interference In Brexit, PM May Admits In Parliament (RT) • China’s Outbound Investment Plunged 41% On Year In January To October (BBG) • Senior China Minister Says Some Officials Practice Sorcery (R.)
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Arkady Shaikhet Express 1939 • Richest 1% Own 50% Of Global Wealth, Poorest 50% Own 1% (BI) • US Auto-Loan Subprime Blows Up Lehman-Moment-Like (WS) • Household Debt Rises By $116 Billion As Credit-Card Delinquencies Pile Up (MW) • Sweden’s Housing Market Shock is Hitting Its Currency (BBG) • ECB Seeks Power To Freeze Bank Deposits (BBG) • What History Teaches About Interest Rates (DR) • Deus ex Mueller isn’t Coming (CJ) • Raqqa’s Dirty Secret (BBC) • How
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