Pablo Picasso Absinthe Drinker 1901 • The Body Language of Power (Handelsblatt) • Let This Be Your Final Warning On US Stocks’ Overvaluation (MW) • Beneath The Glow Of Stock-Market Records Lurk Darkly Bearish Trends (MW) • Albert Edwards: Central Banks To Blame For Impending Disaster (CW) • Paul Singer Rages Against Everything From Passive Investing To Safe Spaces (ZH) • The Amazon Effect: Part Time Jobs Soar By 393K, Full Time Jobs Slide (ZH) • Where The Jobs
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William Blake Europe Supported by Africa and America 1796 Earlier this week I was struck by the similarities and differences between two graphs I saw float by. And the thought occurred that they are as scary as they are interesting. The graphs show eerily similar trends. And complement each other. The first graph, which Tyler Durden posted, shows productivity, defined as more or less the same as GDP per capita. It goes all the way back to 1790 and
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Acropolis and Temple of Jupiter Olympus Athens 1862 • Australia Slams the Brakes on Property Investment (BBG) • Toronto Home Prices Suffer Worst Monthly Decline in 17 Years (BBG) • Toronto Housing Market Implodes: Prices Plunge Most On Record (ZH) • Euro Junk Bonds and “Reverse Yankees” Go Nuts (WS) • Global Inflation Hits Lowest Level Since 2009 (WSJ) • Japan Buries Our Most-Cherished Economic Ideas (BBG) • Britain’s Finance Sector Will Double In Size In 25 Years –
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Marion Post Wolcott Street scenes. Port Gibson, Mississippi 1940 • Buybacks and Dividends Eat 100% of Bank Earnings (WS) • America’s Productivity Plunge Explained (ZH) • Amazon is the New Tech Crash (David Stockman) • Public Pensions Average 0.6% Return In 2016 Despite 7.6% Assumption (ZH) • Plan For The Worst (Roberts) • Who Needs $100 Oil? Majors Making More Cash at $50, Goldman Says (BBG) • China’s Fear of Japan-Style Economic Bust Drives Crackdown on Deals (BBG) •
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Stanley Kubrick Men’s fashion show, New York 1948 • New Rule Makes It Easier To Get A Mortgage With Student Loan Debt (F.) • US Auto Market Slump Persists (BBG) • US Plans Trade Measures Against China (WSJ) • US Begins Russia Drawdown After Kremlin Retaliates For Sanctions (R.) • Former Obama Aide Rhodes A Person Of Interest In Unmasking Investigation (C.) • For Sale: Two Half-Finished Nuclear Reactors -Never Used- (BBG) • Nissan Runs One Of ‘Nastiest Anti-Union
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Jackson Pollock The Deep 1943 The western world is mired in a mile-deep political crisis and nary a soul seems to notice, or rather: everyone just sees their own little preferred echochamber tidbits of it. Which is not a good thing, because that crisis is bound to trigger other bigger crises that are much more damaging. And I’m sorry to say it, but Donald Trump is not your main problem. Not even close. The main problem is the
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Paul Cézanne Young Italian Woman at a Table c1900 • How Can The Richest Nation On Earth Be Lagging So Far Behind Its Peers? (BBG) • With LIBOR Dead, $400 Trillion In Assets Are Stuck In Limbo (ZH) • Amazon And The 110% Surge In US Retail Bankruptcies (ZH) • No Bubble in Stocks But Look Out When Bonds Pop, Greenspan Says (BBG) • Trump Got This One Right: Shutting Down The CIA’s Ghost War In Syria (WS) •
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Elvis Presley with parents Gladys and Vernon 1937 • Whatever It Took To Save The Euro (BBG) • US To Cut 755 Us Diplomatic Staff In Russia, Says Putin (AFP) • Despite Appearances, The Idea Of Social Progress Is A Myth (Satyajit Das) • China Bond Buyers Quiz Taxi Drivers to See If Credit Good (BBG) • Uber, Lyft Mangle Rental Cars & Taxis. Other Sectors Next (WS) • Pence Sketches Possible Patriot Deployment In Estonia, Vows US Support
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Gertrude Käsebier Young negro woman, Newport, Rhode Island 1902 • Wall Street Isn’t Ready For A 1,100-Point Tumble In The Dow Industrials (MW) • Dangerous Game: Shorting the VIX (Barron’s) • Zombie Companies Littering Europe May Tie the ECB’s Hands for Years (BBG) • Markets Relax Merrily on a Powerful Time Bomb (WS) • US Economic Resilience Is An Exaggeration (DDMB) • The Quest To Prove Collusion Is Crumbling (WaPo) • What’s The Matter With Democrats – Thomas Frank
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Dorothea Lange Grocery store in Widtsoe, Utah 1936 • Trump’s Mistake In Taking Ownership Of The Stock Market Bubble (LR) • Congress Checkmates Trump (And The American People) (LR) • Russia Hits Back Over Sanctions, Orders US Diplomats To Leave (R.) • EU Explores Account Freezes To Prevent Runs At Failing Banks (R.) • The Great Transatlantic Bond Divergence Unwind (WSJ) • Top German Automakers Sued in US Over Two-Decade ‘Cartel’ (BBG) • Wells Fargo Faces Angry Questions After
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