Edward Hopper House tops 1921 • Trade War With China Will End US Global Finance Monopoly – Jim Rogers (RT) • Pension Storm Warning (Mauldin) • S&P On The Verge Of History (ZH) • How Austerity Works (Steve Keen) • Why Bitcoin May Be Worth Only A Third Of Its Value (MW) • How Common is the Seneca Curve? (Ugo Bardi) • Greek Debt Write-Offs To Be Based On Properties (K.) • The Eurozone May Be Back On Its
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Pablo Picasso Garcon à la Pipe 1905 • To Hell In A Bucket: America Is Going Broke At Mach 30 (Gordon) • Down $20 Billion, Boeing Stuffs Pension Fund With Its Own Shares (BBG) • Toys ‘R’ Us Mulls Chapter 11 Bankruptcy Filing (R.) • Bitcoin Needs To Be Worth $1,000,000 To Be A Legitimate Currency (MW) • Hillary Happened (Jeffrey St. Clair) • Trump And The Democrats: What’s Next: A Deal With Bernie? (Salon) • The OODA Loop
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Juan Gris Portrait of the artist’s mother 1912 • Fed To Take Historic Leap Into The Unknown (MW) • Janet Yellen’s Right-Hand Man Is Hanging Up His Boots (BI) • 97 Million American Workers Are Living Paycheck To Paycheck (ZH) • “Markets Are Wrong” (Hugh Hendry) • Japanese Told To Find Shelter After North Korea ‘Fires New Missile’ (Y.) • JPMorgan Is In A Bubble And Not Bitcoin – Max Keiser (RT) • Why Europe Will Miss The Disruptive
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Edward Hopper Chop Suey 1929 • Top Democrats Announce Deal With Trump To Protect ‘Dreamers’ (MW) • Fed Balance Sheet Reduction Will Reduce Funds Sent To Treasury (BI) • “You Should Take the Fed at Their Word” (WS) • “Markets Have Always Been Wrong” – Jamie Dimon (ZH) • 10% of Global GDP Is Stashed In Tax Havens (BI) • Did You Know Housing Gets Counted Twice In GDP? (Murray) • The Real Earnings of Men (WS) • China’s
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Eugene Delacroix Greece expiring on the Ruins of Missolonghi 1826 European Commission president Jean-Claude Juncker, famous for his imbibition capacity and uttering -not necessarily in that order- the legendary words “when it becomes serious, you have to lie”, presented his State of the Union today. Which is of pretty much limited interest because, as Yanis Varoufakis’ book ‘Adults in the Room’ once again confirmed, Juncker is nothing but ventriloquist Angela Merkel’s sock puppet. But of course he had lofty
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Sergio Larraín Valparaiso Chile 1963 • Greece Property Value Review A Hard Task (K.) • Creditors Set To Increase Pressure On Athens (K.) • US Threatens To Cut Off China From SWIFT If It Violates North Korea Sanctions (ZH) • Yuan Fixing Takes Center Stage, Again (BBG) • Cryptocurrency Chaos As China Cracks Down On ICOs (R.) • JPMorgan’s Dimon Says Bitcoin ‘Is A Fraud’ (R.) • America’s Fiscal Doomsday Machine (Stockman) • IMF Is Resisting A Moratorium On
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Juan Gris Grapes 1913 • People ‘Fighting In The Streets’ For Last Remaining Food In Caribbean (Ind.) • 20 Miles Made A $150 Billion Difference In Hurricane Irma’s Damage Bill (BBG) • The Role Of Climate Change In Extreme Weather Events (Rapier) • Stormy Weather (Davis) • US National Debt Tops $20 Trillion For First Time In History (Fox) • None So Blind As Those Who Will Not See (Steve Keen) • Behind the Potemkin Village (Hussman) • Market
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Edward Hopper Gas 1940 • Irma Weakens But Continues To Batter Central Florida (NPR) • Reinsurers Will Largely Be Writing the Checks to Pay for Irma Damage (WSJ) • Insurers Ache For Qualified Inspectors After US Hurricanes (R.) • Elon Musk Magically Extends Battery Life Of Teslas Fleeing Irma (ZH) • US Earnings Recovery Remains An Illusion (F.) • Cracks In China Inc’s Rosy Earnings Reveal A Patchier Picture (R.) • China Said to Ban Bitcoin Exchanges While Allowing
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Irma gets closer • ‘The Most Catastrophic Storm Florida Has Ever Seen’ (G.) • Bahamians Freak Out As Hurricane Irma ‘Sucks Away’ Miles Of Ocean (RT) • Houston Residents Confront Officials Over Decision To Flood Neighborhoods (R.) • Stock, Flow or Impulse? (JPMi) • Signs, Signs, Everywhere A Sign (Roberts) • China Targets A $3 Trillion Shadow Banking Industry (R.) • China Studying When To Ban Sales Of Traditional Fuel Cars (R.) • How Democrats Learned To Stop Worrying
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Adolphe Yvon Genius of America c1870 A number of people have argued over the past few days that Hurricane Harvey will NOT boost the US housing market. As if any such argument would or should be required. Hurricane Irma will not provide any such boost either. News about the ‘resurrection’ of New Orleans post-Katrina has pretty much dried up, but we know scores of people there never returned, in most cases because they couldn’t afford to. And Katrina took
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