Paul Gauguin We hail thee Mary 1891 • If The US Middle Class Disappears So Will The US Economy (Hutch) • Nervous Investors Exiting US Stocks At Near-Record Pace (CNBC) • Emerging Markets Are In A Death Cross (CNBC) • Are Central Banks Embracing Too Much Risk? (R.) • Stress Test Results Signal More Flexible New-Look Fed (R.) • EU Warns Deep Disputes With UK Threaten No-Deal Brexit (Ind.) • EU Leaders Say Post-Brexit Single-Market Access For Goods A
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René Magritte Mysteries of the horizon (a.k.a. The Masterpiece) 1955 Don’t know if you noticed, but the Trump-Putin summit in Helsinki on July 16 takes place one day after the soccer World Cup final, Sunday July 15. Now it seems clear that Trump doesn’t care about soccer, though he apparently knows Christiano Ronaldo, but that factoid is significant because the World Cup takes place in Russia. It’s amusing to contemplate that Putin told Trump’s people he would love to
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Paris 1878 • Everyone’s Got A Plan (Roberts) • How Much Have Global Equities Tumbled Since 2018 Peak? (HE) • Debt For US Corporations Tops $6.3 Trillion (CNBC) • Deutsche Bank Fails Fed Stress Test, Three US Lenders Stumble (R.) • Corporate Brexodus Begins as “No-Deal” Brexit Looms (DQ) • How Merkel Broke The EU (Pol.eu) • EU Leaders Hail Summit Victory On Migration But Details Scant (G.) • The Globalising Wall (Danae Stratou, Yanis Varoufakis) • The Living
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Vincent van Gogh Courtesan (after Eisen) 1887 • Same Old Greed In A Shiny New Wrapper (Felder) • Brexit To Put £29 Trillion In Derivatives Contracts At Risk – BOE (G.) • EU To Raise Pressure On May Over Chances Of No-Deal Brexit (G.) • Bank of Japan Now Owns Half the Country (ZH) • Trump Says Security Panel Can Protect US Technology From China (R.) • Whack-a-Mole: China Steps Up Property Crackdown In 30 Major Cities (R.) •
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Édouard Vuillard In bed 1891 • Judge Orders Families Reunited Within 30 Days (AP) • 17 US States Sue Trump Administration Over Family Separation (Ind.) • Democrats See Major Upset As Socialist Beats Top-Ranking US Congressman (G.) • How Long Can The Federal Reserve Stave Off the Inevitable? — PCR • Market Drop Prompts Trump To Offer China A Trade War “Olive Branch” (ZH) • US Asset Prices Divorced From Economic Reality More Than Ever (GMM) • IMF Sounds
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Juan de la Corte (1597–1660) Lot And His Daughters Escaping From The Destruction Of Sodom And Gomorrah There is no migration crisis, said an article in Toronto’s Globe and Mail a few days ago. French President Emmanuel Macron followed up over the weekend with “there is no migrant crisis”. Really? If this is not a crisis, what is? Yes, numbers of refugees landing in Europe are down from 2015. But it’s not a numbers game. It’s about people. If
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Jan van Eyck Crucifixion and Last Judgement 1430 • A -Very- Bad Day to Be Long Wall Street’s ‘Synchronized Global Recovery’ (HE) • Fed’s Effort To Control The Rise Of Its Key Interest Rate Is Faltering (CNBC) • Russia, China And India Move To Prepare For Global Reset (Greyerz) • Trump Tariffs Force Companies To Rework Supply Chains (R.) • Trump Officials Send Mixed Signals On China Investment Curbs, Markets Sink (R.) • Pepe Escobar On Trump, ‘New York
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Edward Hopper Cape Cod morning 1950 • China’s Central Bank Frees Up $100 Billion In Funding As Trade War Looms (SCMP) • US Plans Limits On Chinese Investment In US Technology Firms (R.) • Tit-for-Tat Tariff Battle Could Spark Downturn In Global Economy – BIS (G.) • Why The Debt Deal With The EU Is Bad For Greece (AlJ) • UK Minister Urges Gov’t to Ignore BMW, Airbus Brexit Warnings (Sp.) • Some Of The Pictures Of Border Kids
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Ivan Aivazovsky The Ninth Wave 1849 • Mueller’s Fruit of the Poisonous Tree (WSJ) • Refugees Now Make Up 1% Of The World’s Population (Wef) • There’s No Migration Crisis – The Crisis Is Political Opportunism (G&M) • Divided EU Leaders Convene For Emergency Talks On Migration (R.) • Italy Says ‘Arrogant’ France Could Become Main Enemy On Migration (R.) • Xi Says China Must Lead Way In Reform Of Global Governance (R.) • Turkey’s Erdogan Faces Resurgent Opposition
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René Magritte Le Mal du Pays (Homesickness) 1940 The two most viral photographs of the ‘Trump Separation Scandal’ have now been debunked, or at the very least been proven to have been used ‘out of context’. This is a dangerous development, as are the reasons to use them the way they have been. Both pictures are of children who had not been separated from their mothers at all. But both were used to depict just that: a child being
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