Dorothea Lange Gravestone St. George, Utah 1953 There are numerous ways to define the Precautionary Principle. It’s something we can all intuitively understand, but which many parties seek ways to confuse since it has the potential to stand in the way of profits. Still, in the end it should all be about proof, not profits. That is exactly what the Principle addresses. Because if you first need to deliver scientific proof that some action or product can be harmful
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Opening night of the movie ‘Grand Hotel’ on Times Square at Astor Theater, New York 1932 • Dear America: Please Stop This Shit. Signed, The Rest Of The World. (CJ) • Asian Shares Battered As Trade War Fears Sap Sentiment (R.) • US-China Trade Deficit Is Set To Keep On Rising – Stephen Roach (CNBC) • US Seeks Deal With China in Bid to Avert Trade War (BBG) • US and South Korea Reach Agreement on Trade, Tariffs (BBG)
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Pablo Picasso Don Quixote 1955 • EU In ‘State Of Denial’ Over Destructive Impact Of Farming On Wildlife (G.) • End the Fed. Are You Nuts? (Claire Connelly) • Stocks Suffer Biggest Weekly Drop In More Than 2 Years (BI) • The Stuff The US Imports From China That Causes A Huge Trade Deficit (MW) • Unspooling (Kunstler) • The Rise of the Trembling Hands (David Stockman) • 2.8 Million Hongkongers To Get Cash Handout Of Up To HK$4,000
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Edvard Munch Spring 1889 • China Hits Back on Trump Tariffs as Europe Off the Hook for Now (BBG) • Asian Stocks Plunge As Trump’s Trade War Heats Up (MW) • Dow Jones Closes Down More Than 700 Points (Ind.) • UK Politicians To Be Exempt From Data Crackdown (Ind.) • Steve Bannon: ‘Facebook Data Is For Sale All Over The World’ (G.) • Facebook Gave Data About 57 Billion Friendships To Academic (G.) • The Digital Military Industrial
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Edward Hopper The Circle Theater, New York 1936 • US Democrats Plan Crackdown On Booming Stock Buybacks (CNN) • ‘Mother Of All Yield Shocks’ Is About To Crush Stocks – Stockman (MW) • Forget The Fed, Libor Is The Story Of The Year (ZH) • Fed’s Powell: Some Asset Prices Elevated, Overall Vulnerabilities ‘Moderate’ (MW) • Federal Reserve Raises Interest Rates Again Amid ‘Strong’ Jobs Market (G.) • Mark Zuckerberg Says He’s ‘Really Sorry’ (CNBC) • Facebook Shareholders Sue
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Hildegard von Bingen (1098-1179) German artist, philosopher, composer, mystic Cosmic Tree All of a sudden, politicians in the EU, UK, and USA all want to talk to Mark Zuckerberg. That’s a bad enough sign all by itself. It means they all either have been asleep, complicit, or they’re not very bright. The media tries to convince us the Facebook ‘scandal’ is about Trump, Russia (yawn..) and elections. It’s not. Not even close. If Zuckerberg ever shows up for any
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Dirk de Herder Amstel Bridge, Amsterdam1946 • Sign of Pending Recession? Total American Net Worth Ratio At New High (CNBC) • EU To Unveil Digital Tax Targeting Facebook, Google (AFP) • UK Tells Facebook’s Auditors Visiting Cambridge Analytica To Stand Down (CNBC) • Whatsapp Co-Founder Who Made Billions From Facebook Now Says To Delete It (MW) • The NSA Worked To “Track Down” Bitcoin Users – Snowden Documents (IC) • Bitcoin Bust Is Like Nasdaq Crash, But Faster (BBG)
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Times Square at night 1954 • Last Male Northern White Rhino Dies (Sky) • Alzheimer Care For Americans Alive Today Projected To Cost $47 Trillion (BBG) • The Stock Market Meltup Is Over: Morgan Stanley (MW) • It’s Not Just Tech. Credit Markets Give Fuel to Equity Rout (BBG) • How Economies Could Insure Themselves Against The Bad Times (Shiller) • US Expected To Impose Up To $60 Billion In China Tariffs By Friday (R.) • Facebook Stock Value
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Ernest R. Ashton Evening near the Pyramids 1898 • Facebook And Cambridge Analytica Face Mounting Pressure Over Data Scandal (G.) • Boris Johnson Ramps Up Anti-Russia Rhetoric (G.) • Why Default Rates Are Subdued Even As Corporate Debt Levels Hit Records (MW) • How Seriously is the Treasury Market Taking the Fed? (WS) • 65% of Americans Save Little or Nothing (CNBC) • Developing Countries At Risk From US Rate Rise, Debt Charity Warns (G.) • Rising US Interest
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Gordon Parks Daytona Beach, Florida. Bethune-Cookman College. Football practice 1943 Here’s a delicious little rant from Dr. D., by now a regular contributor at the Automatic Earth. Dr. D: The schizophrenia surrounding the tariff plan is really startling. But then I could just say, “the level of insanity everywhere is startling.” Self-avowed schmartz-guys are all “doesn’t the U.S. know their empire is failing and everybody is cutting them off? What are they thinking starting trade wars
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