Hieronymus Bosch St. Jerome in Prayer 1482 • Fed Says Balance-Sheet Unwind to Start ‘Relatively Soon’ (BBG) • Time Flies for Draghi and the Bumblebees (BBG) • The Greater Moderation (DDMB) • Thursday Is the ‘Day From Hell’ for Europe’s Stock Watchers (BBG) • Market Hype Triggers ‘New Major Warning’ Sign For Stocks (CNBC) • Financialization and Risk Asymmetry (CHS) • China’s Banks Now Stable, ‘Shadow’ Banking Less Threatening – Moody’s (CNBC) • Investor Howard Marks Says Bitcoin Is
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Jackson Pollock Greyed Rainbow 1953 • The Rise And Fall Of The Property-Owning Democracy (FCFT) • Case-Shiller Home Prices Disappoint But Hit New Record High (ZH) • Australian Housing Affordability the Worst in 130 Years (Soos/David) • There Are More ‘Zombie’ Companies In Europe Now Than Pre-Lehman (CNBC) • Netherlands and UK Are Biggest Channels For Corporate Tax Avoidance (G.) • US Sanctions Have Taken A Big Bite Out Of Russia’s Economy (CNBC) • The Value of Everything (Jim
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Walter Langley Never morning wore to evening but some heart did break 1894 If there’s one myth -and there are many- that we should invalidate in the cross-over world of politics and economics, it‘s that central banks have saved us from a financial crisis. It’s a carefully construed myth, but it’s as false as can be. Our central banks have caused our financial crises, not saved us from them. It really should -but doesn’t- make us cringe uncontrollably to
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Vincent van Gogh Sunflowers 1887 • The Next Financial Crisis Is Parked Out Front (G.) • Bank of England Warns of ‘Spiral Of Complacency’ on Household Debt (G.) • How Big Of A Deleveraging Are We Talking About? (Roberts) • IMF: US Looks Weaker, Rest Of The World Picks Up Economic Slack (CNBC) • Bloated London Property Prices Fuel Exodus (G.) • The Foreclosure ‘Pig’ Moves Through The Housing-Crisis ‘Python’ (MW) • Australian Housing Market At Risk Of Crash
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Jackson Pollock The She Wolf 1943 • We Are Now In The Frightening Endgame (Egon von Greyerz) • China’s Dollar Debt Specter Haunts Fed’s Policy Meetings (R.) • Federal Reserve Faces Prospect Of Global Monetary Policy Tightening (R.) • Bank of Japan Dot Plot Paints a Pessimistic Picture of Inflation (BBG) • European Banks Struggle To Solve Toxic Shipping Debt Problem (R.) • Saudi Economic Pain Will Test Resolve of Prince’s Reform Push (BBG) • While Hammond Looks For
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Ford Madox Brown King Lear and Cordelia c1851 Mea culpa. Yesterday I wrote Scaramouche, Scaramouche, will you do the Fandango?, and not long after publishing it, I figured I missed the target I was going for. Not 100%, and it’s not all bad, as people’s reactions have confirmed, but… The thing is, Trump’s nomination of Anthony Scaramucci as White House Communications Director was not the main point of my piece. Tempting, because everybody knows the Queen song, but not
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Vincent van Gogh Women Picking Olives 1889 • Lock Them Up! (David Stockman) • This Recovery Isn’t All That Resilient (DDMB) • Is Productivity Growth Becoming Irrelevant? (Adair Turner) • EU Sounds Alarm, Urges US To Coordinate On Russia Sanctions (R.) • EU Will Hit Poland With Deadline To Reverse Curbs On Judicial Freedom (G.) • EU’s Car Regulator Warns Against Car Diesel Ban In Cities (R.) • 100 British Tenants A Day Lose Homes On Rising Rents And
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Hieronymus Bosch Adoration of the Magic c1472 So sorry to see Sean Spicer go, even if I never watch TV, so I only got snippets of his acting performances -and Melissa McCarthy’s. One of the very few SNL and other ‘comedy’ shows skids that was actually funny, in the same way that very few of the New York Times and Washington Post ‘articles’ on Trump have been actually news. As I wrote to a friend earlier today, sure Spicer’s
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Jackson Pollock Pasiphae 1943 • House of Cards (Paul Craig Roberts) • Deeply Flawed Western Economic Models Undermine Worst Recovery In History (CNBC) • Short Sellers Give Up as Stocks Run to New Records (WSJ) • Greed Is No Longer Good – Bond Boom Comes To An End (G.) • The Media’s War On Trump Is Destined To Fail. Why Can’t It See That? (Frank) • Goldman Sachs Boss Urges Long Brexit Transition. Is Anyone Listening? (Ind.) • US
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Francis Bacon Three Studies of Lucian Freud 1969 • European Central Bank Sticks To Low Rate Monetary Policy (R.) • Bill Gross Is Worried Central Banks Will Lead The World Into Recession (CNBC) • EU Threatens Poland With ‘Nuclear Option’ Over Supreme Court Control (Ind.) • Germany Steps Up Economic Pressure On Turkey In Rights Row (R.) • Britain Hasn’t Been This Risky in 40 Years (BBG) • Concorde Was The Flying Brexit (G.) • Why The Moaning? If
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