Ivan Aivazovsky Stormy Night at Sea 1850 • Is Draghi Risking Everything To Teach Rome A Lesson? (ZH) • The Next Economic Crisis Begins in the European Union (Bruno) • David Stockman: Stocks Will Plunge 50% In This ‘Daredevil Market’ (CNBC) • Euro Recovers On Rising Bets ECB May Unwind Stimulus (R.) • Indonesia Joins India In Begging Fed To Stop Shrinking Its Balance Sheet (ZH) • Fed Clambers Back To Positive Real Rates, Now Debate Is When To
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Vincent van Gogh The good Samaritan (after Delacroix) 1890 • UK House Prices Have Soared 100-Fold Since 1966 (CityAM) • No Need To Buy US Gas At Triple The Price, Will Buy From Russia – Austria (RT) • European Businesses Advised To Avoid Using British Parts Ahead Of Brexit (Sky) • Volatility May Hit Wall Street As Alphabet, Facebook Leave Tech Sector (R.) • China’s Debt Default Avalanche (ZH) • Turkey Escalates Row With Greece Over ‘Putschist’ Soldiers (G.)
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Charles Sprague Pearce The Arab jeweler c1882 There are a lot of industries in our world that wreak outsized amounts of havoc. Think the biggest global banks and oil companies. Think plastics. But there is one field that is much worse than all others: agro-chemicals. At some point, not that long ago, the largest chemical producers, who until then had kept themselves busy producing Agent Orange, nerve agents and chemicals used in concentration camp showers, got the idea
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John French Sloan East Entrance, City Hall, Philadelphia 1901 • Carbon Bubble To Destroy Trillions Of Dollars Of Global Wealth (Ind.) • The Effects Of Trump’s Steel Tariffs On Red State Energy (F.) • US Firms To Pour $2.5 Trillion Into Buybacks, Dividends, M&A This Year (CNBC) • India Central Banker Sees Sudden “Evaporation” Of Dollar Funding (ZH) • China’s Debt Crackdown To Hurt Emerging Markets, Oil, Metals – Fitch (R.) • Italy’s Long, Hot Summer (Carmen Reinhart) •
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Roy Lichtenstein Crying girl 1964 • This Is Why The Global Collapse Will Be Devastating (von Greyerz) • If Trump Wants To Win A Trade War, The Market Has To Crash – Goldman (ZH) • Deutsche Bank Faces Another Challenge With Fed Stress Test (R.) • The Big Con: How Neoliberals Convinced Us There Wasn’t Enough To Go Around (G.) • Greece Relaxes Capital Controls To Prove Worst Of Turmoil Is Over (G.) • Australia’s Commonwealth Bank Agrees To
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Andrew Wyeth Christina’s world 1948 • Why Italy Had To Say Goodbye To The Dolce Vita (David McWilliams) • An Italian Exit May Be Rome’s Best Option – JPMorgan (ZH) • Angela Merkel Rules Out Debt Relief For Italy (CNBC) • New Italy PM Starts Off In Shadow Of His Powerful Deputies (AFP) • Juncker: EU Won’t ‘Meddle’ In Italy’s Affairs (O.) • Political Bruiser Sánchez Stuns Spain To Become PM (Spain Report) • Europe: Confront Trump or Avoid
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Edward S. Curtis Crow Scout in Winter 1908 • The US Economy Suddenly Looks Like It’s Unstoppable (CNBC) • Record 95.9 Million Americans Are No Longer In The Labor Force (ZH) • The Pause That Refreshes (Roberts) • EU Joins Global Battle Against Trump Tariff Onslaught (AFP) • Eurozone Not Facing New Debt Crisis – Juncker (R.) • Three Critical Lessons From Europe’s Recent Mini-Meltdown (Black) • EU Lawmakers From Italy’s Coalition Parties Seek Funds To Quit Euro (R.)
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Nikolay Dubovsky Became Silent 1890 “European Stocks Surge Celebrating New Spanish, Italian Governments”, says a Zero Hedge headline. “Markets Breathe Easier As Italy Government Sworn In”, proclaims Reuters. And I’m thinking: these markets are crazy, and none of this will last more than a few days. Or hours. The new Italian government is not the end of a problem, it’s the beginning of many of them. And Italy is far from the only problem. The new Spanish government will
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Edward Hopper Rooms by the sea 1951 • Deutsche Bank Downgraded By S&P Over Restructuring Plans (MW) • ANZ, Deutsche Bank and Citigroup Face ‘Criminal Cartel’ Charges (BBC) • Deutsche Bank’s US Ops Deemed “Troubled” By Fed A Year Ago (R.) • Why Turkey And Argentina Are Doomed (ZH) • US On Brink Of Trade War With EU, Canada and Mexico (G.) • China To Slash Import Tariffs On Many Consumer Products By 60% From July 1 (R.) •
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