Fred Stein Hydrant, New York 1947 • The Greatest Crisis In World History Is About To Be Unleashed (von Greyerz) • After 100 Months of Buying The Dips – Peak Crazy (Stockman) • China Has Got To Fix Its Debt Problem, IMF Says (CNBC) • China Money Supply Growth Slips Again as Leverage Crunch Goes On (BBG) • UK Risks ‘Losing Its Place As Property-Owning Democracy’ • The New American Dream: Rent Your Home From A Hedge Fund (Black)
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Salvador Dali Madrid. Drunk man 1922 Harvard professor and chess grandmaster Kenneth Rogoff has said some pretty out there stuff before, in his role as self-appointed crusader against cash, but apparently he’s not done yet. In fact, he might just be getting started. This time around he sounds like a crossover between George Orwell and Franz Kafka, with a serving of ‘theater of the absurd’ on top. Rogoff wants to give central banks total control over your lives. They
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Stanley Kubrick Walking the streets of New York 1946 • Prepare For Negative Interest Rates In The Next Recession – Rogoff (Tel.) • We’re Still Not Ready for the Next Banking Crisis (BBG) • World’s Biggest Banks Face £264 Billion Bill For Poor Conduct (G.) • US Stock Buybacks Are Plunging (BBG) • Consumer Spending Expectations Down Again (Mish) • Dow 30,000, Not If Demographics Have Anything To Say (SA) • Ten Years After The Crash, There’s Barely Suppressed
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August Strindberg Alpine Landscape I 1894 • Multiple Contraction : Stock Market Warning Siren is Blaring (WS) • Is The Euro Crisis Really Over? (Lacalle) • US Is The Real Trade Protectionist – China State Media (CNBC) • Fourth Turning: “It’s Going To Be A Rollercoaster Ride” (ZH) • Conspiracy or Chaos? (Jim Quinn) • Forget GDP – There’s More To Britain’s Wealth Than Its Bank Balance (Baggini) • Factory Farming, Antibiotics Use In Asia Creating Global Health Risks
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Vincent van Gogh Still life with bible 1885 • China Takes On State-Owned Firms (Balding) • Trump Warns Xi: Trade War With China Begins Monday (ZH) • The Actual Terrorists (PCR) • How Money Launderers Used Commonwealth Bank of Australia (CNBC) • The Euro Area Is Due for a Reboot. Here’s What Is Being Proposed • Italy’s Midsummer Dream: Shaking Off Sick Man of Europe Label (BBG) • Greece Seen Needing Credit Line To Exit Program (K.) • Stop
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Giorgio de Chirico The Enigma of the Hour 1910 • The Logic of War (Jim Rickards) • Russia Says Bellicose Rhetoric On North Korea Is ‘Over The Top’ (R.) • US ‘Volatility Index’ Spikes To Highest Level Since Election (G.) • Chinese Foreign Real-Estate Spending Plunges 82% (ZH) • Battle of the Behemoths (Jim Kunstler) • US Poised To Become World’s Largest Public-Private Partnership Market (IBT) • The Fed Has 6,200 Tons of Gold in a Manhattan Basement—Or Does
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Jackson Pollock Reflection of the Big Dipper 1947 • It’s Hard to Price an ‘Extinction Event’ Like a North Korea War (BBG) • In Debt We Trust for US Consumers With $12.7 Trillion Burden (BBG) • Tesla Cars Aren’t As Carbon (And Taxpayer) Friendly As You Think (FMS) • Uber Gets Run Over by its Own Subprime Auto Leases (WS) • Amazon Online Grocery Boom? Not So Fast… (WS) • Amazon Paid Just £15 Million In Tax On European
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Dorothea Lange Rooms for Rent, Mission District. Slums of San Francisco, California 1936 • An Indicator of Peril (Lebowitz) • Former CBO Director: Fall 2017 Will Be “Very Scary”, Expect A Market Crash (ZH) • US Still Stuck Firmly In The Great Recession (BI) • 10 Years After Crisis, Another Crash Is ‘Almost Inevitable’ – Steve Keen (RT) • This $5 Trillion Time Bomb Will Devastate Americans (IM) • New Report Raises Big Questions About Last Year’s DNC Hack
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Jean-Michel Basquiat Self Portrait 1982 A Guardian headline today shouts: “Trump Has Taken Us To The Brink Of Nuclear War. Can He Be Stopped?”. And I’m thinking that is such obvious nonsense, how dare you print it? The North Korea nuke build up has been going on for decades, and neither Bill Clinton nor George W. Bush nor Obama ever took any decisive actions against it. And now it all falls into Trump’s lap. But that doesn’t mean he’s
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Fred Stein Police car, New York 1942 • The Only Thing Keeping Italy’s Debt Alive is the ECB (DQ) • Federal Bank Regulator Drops a Bombshell as Corporate Media Snoozes (Martens) • Officials Spend Big In The Run Up To China’s Communist Party Congress (BBG) • China Is Taking on the ‘Original Sin’ of Its Mountain of Debt (BBG) • Jeff Gundlach Predicts He Will Make 400% On Bet Against Stock Market (CNBC) • Our Broken Economy, in One
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