Dorothea Lange Negro woman who has never been out of Mississippi July 1936 • The Government Doesn’t Actually Want Housing To Be More Affordable (SMH) • In Praise Of Cash (Aeon) • Basic Income Isn’t Just A Nice Idea. It’s A Birthright (G.) • Oil Falls On Lower China Growth Targets, Doubts On Russian Output Curbs (R.) • China’s Credit Target Implies Adding Entire German GDP This Year (BBG) • Record-Breaking Stocks A Bad Reason For The Fed To
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Near The Hermitage, SaintPetersburg, Russia 1930 • The Rich Already Have a UBI (Jacobin) • The Next Market To Break *Should* Be Stocks (MA) • America’s Miserable 21st Century (CM) • China Cuts GDP Growth Target to 6.5%, Targets Reforms, De-Leveraging (CNBC) • China Signals Slower Increase In Defense Spending (BBG) • The Priced-In Risk of Marine Le Pen’s Victory (BBG) • Self-Fulfilling Pessimism (Vox) • Only The Rich Are Poisoned (Taleb) • Austrian Chancellor Calls For EU-Wide Ban
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DPC Pine Street below Kearney after the great San Francisco earthquake and fire 1906 • Yellen Points To March Rate Hike As Fed Signals End Of Easy Money (R.) • The Fed Is Embarking On A Path That Usually Ends With A Recession (Udland) • A Selloff Is Looming As Fear Stalks The Stock Market Rally (MW) • Medicine In The USA Is A Hostage Racket (Jim Kunstler) • Chevron Warns Future Oil Drilling May Be ‘Economically Infeasible’ (Ind.)
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Leonardo da Vinci Head of a Woman 1470s This is turning into a very rewarding series, it opens up vistas I could never have dreamed of. First, in “Not Nearly Enough Growth To Keep Growing”, I posited that peak wealth for the west, and America in particular, was sometime in the early ’70s or late ’60s of the last century. That led to longtime Automatic Earth reader Ken Latta, who’s old enough to have been alive to see it
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DPC North approach, Pedro Miguel Lock, Panama Canal 1915 • EU Votes To Suspend Visa-Free Travel To Europe For Americans (Tel.) • Snap IPO “The Ultimate Example Of Bubble Trouble” (CNBC) • Snap IPO: A Shareholding Monarchy (G.) • What If The 1980-Secular Bull Is Still Running? (Roberts) • Global Banks Have Paid $321 Billion In Fines Since Financial Crisis (BBG) • Home Ownership In England At A 30-Year Low (G.) • More Than Half Of New-Build Homes In
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DPC League Island Navy Yard, Philadelphia. USS Brooklyn spar deck 1898 • Trump Will Create a Debt Crisis Like Never Before – David Stockman (Fox) • The End Of A 100 Year Global Debt Super Cycle Is Way Overdue (EC) • US Personal Income Climbs 0.4% In January, More Than Expected (RTT) • US Real Personal Spending Crashes Most Since 2009 (ZH) • Will Trump Build A Wall Protecting US Banks From Global Rules? (Davies) • Once Again, Trump
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Vivien Leigh in Gone With The Wind, directed by Victor Fleming, 1939 • Raising Pension Age Will Mean Many People Die Before Getting It (G.) • NY Teamsters Pension Fund Becomes First To Run Out Of Money (NYDN) • US Baby Boomers Forced By Law To Start Drawing From Retirement Funds (MW) • Greek Pensioners Brace For Latest Crisis Cuts (K.) • Merkel Bypasses Schäuble To Push For Greek Review Conclusion (K.) • US Stepping In To Ease Greece,
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Willem de Kooning Gotham News 1955 You could perhaps say that this is part 4 in a series on -America’s- peak wealth, even if it was never intended to be such a series; it just happened. First, in a February 18 essay about declining economic growth, “Not Nearly Enough Growth To Keep Growing”, I said “..the Automatic Earth has said for many years that the peak of our wealth was sometime in the 1970’s or even late 1960’s”. That
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Ben Shahn L.F. Kitts general store in Maynardville, Tennessee 1935 • A Hole in the Head (Jim Kunstler) • Trump’s Fed Can Start a Central Bank Revolution (BBG) • Trump Puts Final Touches on Speech Focusing on Economy, Defense (BBG) • Number Of Distressed US Retailers At Highest Level Since Great Recession (MW) • The Housing Crisis (Renegade) • China’s Continuing Credit Boom (NYFed) • ADB Says Emerging Asia Infrastructure Needs $26 Trillion by 2030 (BBG) • Greece Said
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Bruce Davidson Iran 1964 Let’s see. On February 18, I wrote an essay called “Not Nearly Enough Growth To Keep Growing”, in which I said “..the Automatic Earth has said for many years that the peak of our wealth was sometime in the 1970’s or even late 1960’s”. That provoked a wonderfully written reaction from long-time Automatic Earth reader Ken Latta, which I published on February 23 as “When Was America’s Peak Wealth?”. Ken put peak wealth sometime in
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