M. C. Escher Doric columns 1945 • Yemen On Brink Of ‘World’s Worst Famine In 100 Years’ (G.) • Humanity Is ‘Cutting Down The Tree Of Life’ (G.) • ‘Hyperalarming’ Study Shows Massive Insect Loss (WaPo) • America’s Budget Deficit Jumps By 17% As Spending Surges (CNBC) • More Free Money: A Carry Trade in Liquidity (Mish) • Powell Has Lost His North Star, And The Fed Is Flying Blind (MW) • Facebook Paid £15.8 Million In UK Tax
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Paul Gauguin Haymaking in Brittany 1889 • What’s The Point Of Growth If It Creates So Much Misery? (G.) • Don’t Rule Out $400 Oil If The US Sanctions Saudi Arabia (MW) • How Much Damage Can Saudi Arabia Do To The Global Economy? (G.) • Ecuador Partly Restores Assange’s Internet (AAP) • Pages Purged By Facebook Were On Blacklist Promoted By Washington Post (Wsws) • Sears Files For Bankruptcy (CNBC) • The Housing Crisis Will Not Be Solved
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René Magritte The song of love 1948 • Companies Buying Their Own Shares Could Fuel The Next Market Rally (CNBC) • Market Crash? Another ‘Red Card’ For The Economy (Lacalle) • 4 Lessons From Iceland On Dealing With A Financial Crisis (WEF) • ‘Crazy’ That Current Account Deficits Are ‘A Sin:’ Singapore Deputy PM (CNBC) • Draghi to Rome: Don’t Expect An ECB Rescue If Budget Talks Fail (CNBC) • Canada ‘Concerned’ About Khashoggi But Will Sell Arms To
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Pablo Picasso Two naked figures 1908 • 40% Of The American Middle Class Face Poverty In Retirement (CNBC) • One-Third Of Young Americans Too Overweight To Join The Military (AFP) • We Are All In….Again! (Roberts) • American Pastor Freed In Turkey Will Visit White House Saturday (AP/R.) • Saudi Isolation Grows Over Khashoggi Disappearance (G.) • UK ‘Gears Up’ To Target Saudis With Sanctions After Journalist Vanishes (Ind.) • ‘Pressure Will Be On Turkey’ If Saudis Found Guilty
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Alfred Eisenstaedt Egyptian Fishing Boats. Suez Canal near Port Said 1935 According to Middle East Eye, Richard Branson, Andrew Ross Sorkin, Economist editor-In-chief Zanny Minton Beddoes, World Bank president Jim Yong Kim, New York Times, Financial Times, Uber CEO Dara Khosrowshah, Viacom CEO Bob Bakish and AOL founder Steve Case have all withdrawn from Saudi Arabia’s Future Investment Initiative conference, to be held this month in Riyadh. Branson also put a $1 billion investment plan on hold. Also, on
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M. C. Escher Order and chaos 1950 • Donald Trump is Right About the Fed (Whalen) • Stocks Could Fall 40% To 50% To Reach Fair Value – Yusko (CNBC) • 4 Pillars of Debt in Danger of Collapse (Nomi Prins) • The Dollar and its Discontents (Eichengreen) • China September Exports Surge, Creating Record Surplus With US (R.) • Facebook, Twitter Purge More Dissident Media Pages (CJ) • Italian Parliament Approves Controversial New Spending Targets (AP) • Turks
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Pieter Bruegel the Elder The Triumph of Death 1562 Finally financial ‘markets’ go through a substantial dip, which Steve Mnuchin claims is just temporary and Donald Trump says is caused by the fact that the Fed is ‘loco’. Mnuchin may well be right, but it won’t be because he knows something you don’t. And Trump is certainly right, but in reality the Fed has been loco for many years, so why be surprised if it acts crazy now? The
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Pablo Picasso Bather 1908 • Dow Tumbles 830 Points In One Day, Trump Says The Fed Has ‘Gone Crazy’ (MW) • World Stock Markets Dive As Trump Attacks ‘Crazy’ US Rate Hikes (G.) • Tech Stocks Have Their Worst Day Since August 2011 (CNBC) • “Rising Inequality” Could Impact America’s AAA Credit Rating (SH) • How Will 6% Mortgage Rates Deal with Housing Bubble 2? (WS) • Brexit Deal Within Reach If May Agrees On Customs Union, Says Barnier
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Paul Klee Angelus Novus 1920 (see last article) • Trump “Doesn’t Like What The Fed Is Doing” (ZH) • Chinese Yuan Could Reach A Record Low Against The Dollar (MW) • China’s (Non-Government) Business Survey Collapses As Trade War Strikes (ZH) • Chinese Firms Now Hold Stakes In Over A Dozen European Ports (NPR) • UK Public Finances Are Among Weakest In The World – IMF (G.) • IMF Warns Italy Not To Breach EU Spending Rules In Next
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Pieter Bruegel the Elder Two monkeys 1562 And there we go again. Another IPCC report, and they all keep getting more alarming than the previous one. And then nothing substantial happens. Until the next report is issued and makes everybody’s headlines for a day, or two. Rinse, spin and repeat. “Now we really have to do something!”. “World leaders have a moral obligation to act!”. Oh boy. To start with that last bit, world leaders don’t act because of
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