Russell Lee Highway tavern. Crystal City, Texas 1939 • A Google Breakup Would Fit the EU’s Logic (BBG) • Customs Union U-Turn By May Could Inspire Brexiter Cabinet Revolt (G.) • The Windrush Story Was Not A Rosy One Even Before The Ship Arrived (G.) • Britain, Headquarters Of Fraud (G.) • China Q1 Imports From North Korea Fall 87% Year-On-Year (R.) • How China Is Buying Its Way Into Europe (BBG) • China Factory Crackdown Masks Sweeping Takeover
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Vincent van Gogh Green Wheat Field With Cypress 1889 • US Hints at China Truce as World Warns of Trade-War Threat (BBG) • US Banks Push Mortgage Apps As Home Lending Slows (R.) • Chinese Gangs Are Laundering Drug Money Through Vancouver Real Estate (GN) • New Zealand’s Ban On Home Sales To Foreigners Is “Discriminatory” – IMF (BBG) • Whirling Whirling (Jim Kunstler) • Home Office Under Theresa May Was Urged in 2014 To Act On Windrush (Ind.)
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Arthur Rothstein Lower Broadway, New York 1941 British media report today that Donald Trump may visit the country in late summer. (Renewed) calls for mass protests are everywhere, of course. The Metro news outlet features a picture of a pamphlet that reads No To Racism. No To Trump, that dates from an earlier occasion (Trump was supposed to come several times, but never did). Now, good luck with those protests, it’s still a free country, in name at least.
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James McNeill Whistler Morning Glories 1869 • A US Recession Ahead? Fed Policymakers Say Not To Worry (R.) • If Treasuries Reach 3%, That Would Be Big (BBG) • Kim Jong-Un Halts Nuclear & Missile Tests, Shuts Down Testing Site (RT) • DNC Sues Russia, Trump, Wikileaks For Conspiring To Hurt Hillary in 2016 (ZH) • DNC Lawsuit Against WikiLeaks a Serious Threat to Press Freedom (IC) • Trump To “Counter” DNC Lawsuit (ZH) • Comey Memos Probed By
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Daniel Garber The quarry 1917 • The World’s First Total Bubble (MB) • Now Even a Fed Dove Homes in on the “Everything Bubble” (WS) • Recession Risks Are Increasing – Axel Weber (CNBC) • The Faster Tesla Makes Model 3’s, The More Money They Will Lose (SM) • Marx Predicted Our Present Crisis – And Points The Way Out (Varoufakis) • Market Power Wielded By US Tech Giants Concerns IMF Chief (G.) • Bill Gates Backs Plan to
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Edgar Degas The laundress 1873 • Triffin Warned Us (Lebowitz) • Global Debt Has Reached A Record High, And 3 Countries Are To Blame – IMF (MW) • Dollar Bears Beware, Trump Tweets May Not Be Enough (Karamanlis) • Facebook Says Users Must Accept Targeted Ads Even Under New EU Law (R.) • Facebook To Put 1.5 Billion Users Out Of Reach Of New EU Privacy Law (R.) • VIX Rigging Talk Erupts on Wall Street After Another Wild
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Francesco Hayez The Death of the Doge Marin Faliero 1867 Dr. D’s swift response to my essay yesterday, Every Kingdom Divided Against Itself. On the mechanisms by which empires fall. They’re always similar and familiar. Dr. D: Wonderfully said. Since no one will report, here’s what happened to that airstrike. The one where we declare a victory and go home (or try to). They targeted 10 sites, yet after the Pentagon said it was a perfect
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Franco Fontana Prague 1967 • Junk Bond Market Still in Total Denial, Fighting the Fed (WS) • World Trade System In Danger Of Being Torn Apart, Warns IMF (G.) • Eurozone Engine Sputters as German Downturn Risk Sharpens (BBG) • Bitcoin Tumbles After Mystery “Whale” Dumps $50 Million In One Trade (ZH) • Japan Asks Rusal To Stop Aluminum Shipments (ZH) • The Deep State And The Big Lie – Douma (Stockman) • Theresa May’s Husband Made A Killing
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Charles Sprague Pearce Lamentations over the Death of the First-Born of Egypt 1877 In Matthew 12:22-28, Jesus tells the Pharisees: Every kingdom divided against itself is brought to desolation, and every city or house divided against itself will not stand. In 1858, US Senate candidate Abraham Lincoln borrows the line: On June 16, 1858 more than 1,000 delegates met in the Springfield, Illinois, statehouse for the Republican State Convention. At 5:00 p.m. they chose Abraham Lincoln as
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DPC Times Square, New York Times building under construction 1903 • How Libor’s Surge Will Help Pop The Global Bubble (Colombo) • America First – R.I.P. (David Stockman) • Optimism of US Manufacturers “Plunged” the Most Ever (WS) • US Planning To Open “Third Front” In China Trade Spat (ZH) • US Cuts Off China’s ZTE From American Tech for Seven Years (BBG) • China Industrial Output, Investment Growth Miss Expectations (R.) • Is Tesla The Next Enron? (MW)
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