Pablo Picasso Self portrait 1938 • Macron Is Not The Solution To Europe’s Top Existential Threat (CNBC) • “Europe’s Not Out Of The Woods With Macron Win” (ZH) • Commodities Send Ominous Signal On Global Economy (BBG) • Traders Are Fleeing the Options Market (WSJ) • The Debt-Bubble Landmine Obama Left For Trump (NYP) • Canadians Buy Record Number of New Cars With Record Amount of Financing (BD) • Majority of Consumers Now See Canadian Home Prices Rising (BBG)
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RCA TV test pattern 1939 • Macron Banks On De Gaulle’s ‘Majority Amplifier’ To Govern (R.) • In France, The Run Of Macron’s Life Starts Monday (Pol.) • Euro Gives Up Gains As Investors Look To Post-Election France (G.) • US Economy Can’t Even Match the “Sclerotic Statism” of France (CEPR) • Expect Dramatically Lower Stock Market Returns Over Next Decade (CNBC) • UK Consumer Spending Weakens With Sharp Slowdown in April (BBG) • Brexit Boom Gives Britain More
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J.M.W. Turner Old London Bridge 1794 The French election, won just now by Emmanuel Macron, put several segments of the French population opposite one another in a pretty fierce contest. And that contest will continue. Because Macron won’t be able to lift the French economy out of its doldrums any more than Le Pen could have, or than Trump can life the US, and the new president will have the honor of presiding over a further and deepening downturn.
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Rembrandt Old Man Sitting 1631 • The Great Productivity Slowdown (WSJ) • Take Away Finance, and Britain’s Foreign Investment Figures Collapse (Econ.) • Round 2 Of French Presidential Elections Held Amid State Of Emergency (RT) • Charles Gave Expects “Total Mayhem” In France Even If Macron Is Elected (ZH) • Angry Merkel Slaps Down Juncker For Inflaming Brexit Talks (DM) • Far-Right ‘Terror Plot’ Rocks The German Army (AFP) • World Bank Warns Of China Debt Risk From Backdoor
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Edouard Boubat Paris 1950 • Think Like a Surfer in the Largest Stock Market Bubble Since 1983 (Dent) • US Student, Auto Loans Hit New All Time High Of $2.6 Trillion (ZH) • China’s War on Debt: Stocks Drop, Bond Yields Shoot Up and Defaults Rise (WSJ) • This Is Not a Bill (Jim Kunstler) • Review of Steve Keen’s Can We Avoid Another Financial Crisis? (R.) • France and Greece Heavily Disadvantaged by Euro as Germany Benefits (WE)
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Fred Stein Under the El New York 1949 • Senate GOP to Snub House Obamacare Repeal Bill and Write Its Own (BBG) • Cost Of Interest On US Government Debt Tops Half A Trillion Dollars (ZH) • Oil Extends Slump Below $45 (BBG) • Emerging-Market Companies Binge On Dollar-Denominated Debt (BBG) • Chemchina Clinches Landmark $43 Billion Takeover of Syngenta (R.) • Brexit Talks Could Become ‘Impossible’: EU Council President Tusk (Ind.) • Italy’s Bankrupt National Airline Is Being
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Fred Stein Americans All 1943 • “We Have Enough Votes”: House To Vote Thursday To Repeal Obamacare (ZH) • Democrats, Not Trump, Are Driving Policy (BBG) • Corporate Insiders Are Unloading Their Stocks Like There’s No Tomorrow (Lang) • The Coming Collapse In US Auto Sales (F.) • Fed to Markets: June Rate Hike Coming Your Way (CNBC) • Rickards Says Fed Raising Into Weakness, Recession Due By Summer (BBG) • 57% Of Australians Couldn’t Handle $100 A Month
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Leonardo da Vinci A Copse of Trees 1508 • Trump: US “Needs A Good Shutdown In September To Fix This Mess” (ZH) • Home Capital Fails to Draw Buyout Interest From Canada Banks (BBG) • Hot Air Hisses Out of US Auto Bubble (WS) • May’s Election Fighting Talk Fuels Brexit War of Words With EU (BBG) • Le Pen Wants A French National Currency Within Two Years After Election (R.) • Macron Victory Could Mark The Start Of
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Grand Central Station NY WWII • Trump Weighs Breaking Up Wall Street Banks, Raising Gas Tax (BBG) • Life After Oil Makes Real Estate Canada’s New Economic Crutch (BBG) • How Did Home Capital Get Into Trouble? (BBG) • China Leverage Rising At ‘Alarming Pace’: Central Bank Official (R.) • UBS, BNP, RBS Get Subpoenas in US Treasuries Probe (BBG) • The US Health Care Industry Is Bound To Collapse Soon (NYP) • Exhaustion Gaps and the Fear of
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Walker Evans Air 1930s • 40% of Americans Spend Up To Half Of Their Income Servicing Debt (MW) • Are American Debt Slaves Getting in Trouble Again? (WS) • Congress Agrees $1 Trillion Budget Deal – But No Money For Border Wall (G.) • Trump Tax Plan ‘Dead On Arrival’, Wall Street ‘Delusional’ – Stockman (CNBC) • Economics Is A Form Of Brain Damage (RWE) • Why The Reflation Trade Is About To Fizzle (ZH) • If Rates Ever
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