Arthur Gerlach Children point towards Christmas toys at The Fair Department Store, Chicago 1940 The world is facing the “first lost decade since the 1860s”, said Bank of England governor Mark Carney this week. Arguably good for soundbite of the day, but the buck stops there. The only way that buck could have kept rolling would have been for Carney to take a critical look at himself and his employer(s), but there was none of that. The Canadian import
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Harris&Ewing Washington snow scenes 1924 • Trump: US Must End ‘Destructive Cycle of Intervention and Chaos’ (VoA) • ‘Chances Of Italy Staying In Euro For Next 5 Years Below 30%’ (Ind.) • Italian Interior Minister Sees New Elections In February (R.) • ‘A Landscape of Exhaustion and Moral Decay’ (G.) • Is Janet Yellen Trying To Screw Donald Trump? (Miller) • Trump’s Air Force One Tweet Was A Brilliant Move (CNBC) • The Equation That Explains It All (Mark St.Cyr)
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John M. Fox Midtown Dealers Corp. and Hudson showroom, Broadway at W. 62nd Street, NY 1947 • Mark Carney: World Is Facing The “First Lost Decade Since The 1860s” (BBG) • Trump Must Fire Janet Yellen – First Thing! (Stockman) • Matteo Renzi’s Resignation Temporarily ‘Frozen’ By Italian President (G.) • Italian Bank Shares Slump as Renzi Loss Adds to Uncertainty (BBG) • Italy Already Requested Monte Dei Paschi Bailout Before Referendum (R.) • Could Renzi’s Exit Lead To An
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Don’t let the door hit you on the way out.. • Bloody Hell, John Key Just Quit As Prime Minister (Spinoff) • Trump Picks Twitter Fight With China (AFP) • Italy PM Renzi Quits After Crushing Referendum Defeat (AFP) • Italy Bank Recapitalizations A Harder Road After Referendum Flop (CNBC) Austria Rejects Far-Right Candidate In Presidential Election (G.) • Greece Must Reform Or Leave Eurozone – Schäuble (G.) • Greece Sees Final Solution On Debt Crisis Amid Euro Uncertainty (R.)
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Wyland Stanley “J.A. Herzog Pontiac, 17th & Valencia Sts., San Francisco.” 1936 • Trump’s Unhappy Fate: A Financial Crisis Far Worse Than The Last (Rickards) • Trump’s Appointments (Paul Craig Roberts) • Petition To Reverse US Election Result Becomes Most Popular In History (Ind.) • Jill Stein Supporters Drop Pennsylvania Recount Suit (WSJ) • Jill Stein To Pursue Pennsylvania Recount Petition In Federal Court (R.) • Brent Caps Biggest Weekly Advance Since 2009 on OPEC Agreement (BBG) • Steve Keen,
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DPC “Car ferry Michigan Central turning in ice, Detroit River” 1900 • Italian Stock Exchange CEO: There Are ‘Colossal’ Short Positions On Italy (R.) • Markets Eye Europe’s ‘Fear Gauge’ As Italian Referendum Approaches (CNBC) • Is the Yellen Fed TRYING to Crash Stocks To Hurt Trump? (Summers) • China Blames Taiwan For President’s ‘Petty’ Phone Call With Trump (R.) • China Bond Yields Jump As Investors Head For Exit (MNI) • China’s ‘Extraordinary Leverage’ Tops BOE List Of Concerns
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Harris&Ewing Washington, DC, Storm damage..” Between 1913 and 1918 • Global Bonds Suffer Worst Monthly Meltdown as $1.7 Trillion Lost (BBG) • What’s Causing The Fire Sale In The Bond Market (CNBC) • Donald Trump Promises to Usher In New ‘Industrial Revolution’ (WSJ) • Trump Will End Growth-Zapping Fiscal Austerity – McCulley (CNBC) • China’s Central Bank Is Facing a Major New Headache (BBG) • Rural China Banks With $4 Trillion Assets Face Debt Test (BBG) • Obama Set To
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NPC K & W Tire Co. Rainier truck, Washington, DC 1919 • Oil Price Surges As OPEC Agrees First Output Cut Since 2008 (G.) • Preet Bharara to Stay On as Manhattan US Attorney Under Trump (WSJ) • Trump’s Tax Cut Means Billion-Dollar Writedowns for US Banks (BBG) • 6 Million Americans Are Delinquent On Auto Loans (MW) • ‘Classic Ponzi Scheme’: Sydney House Prices 12 Times Annual Income (SMH) • Melbourne Apartment Prices Drop by Most Since 2014 (BBG)
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Wyland Stanley Bulletin press car: Mitchell auto at Yosemite National Park 1920 • OK, I get it: Companies Clamor for Cheap Labor, Fed Delivers (WS) • Trump Notches a Win as Carrier Agrees to Keep 1,000 Jobs in U.S. • Asia Is About to Face a Significant Dollar Stress Test (BBG) • Property Bubble ‘Most Important Macro Issue In China’ – Deutsche (BI) • China’s Foreign Investment ‘Shopping Spree’ Over?! (SCMP) • RBS Fails Bank Of England Stress Test (Ind.)
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Andrea Bonetti Konstantinos Polychronopoulos 2015 To anyone who reads this, please send it to as many of your friends and family and others as you can. Tweet and retweet, post and share on Facebook, do whatever you can to make Christmas a better time and place for the poorest Greeks and refugees. And, of course, please donate! It’s 4 weeks before Christmas and it’s time. Time for me to go back to the basics, the streets, the
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