Opening of Golden Gate Bridge May 27 1937 This is an absolute must see, and a joy to watch. Longtime friend of the Automatic Earth Steve Keen was on BBC’s Hardtalk over the weekend. I already really liked the 2.30min clip the BBC released earlier this week. Now Steve himself has posted the entire interview, while the BBC only has an audio podcast (for anyone outside the UK). You can see that Steve came prepared for some ‘hard’ questioning, and
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Walker Evans Waterfront in New Orleans. French market sidewalk scene 1935 • Paul Singer: Market ‘Breakdown’ To Be ‘Sudden, Intense, And Large’ (CNBC) • Vancouver Housing Market Implodes: Average Price Plunges 20% In 1 Month (ZH) • UK’s £8.8 Trillion Wealth Owes Much to Housing (BBG) • Moody’s Lowers Outlook On Australia Banks To Negative (R.) • China’s Secret Lists of Zombie Borrowers Leave Banks in the Dark (BBG) • As China Shrinks, Mongolia Has an Epic Economic Meltdown (BBG)
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NPC George W. Cochran & Co., 709 14th Street NW, Washington DC 1920 • Japanese Imports Drop -24.7%, Exports Crash -14.1% (ZH) • A Physics Lesson for Central Bankers (BBG) • The Idea Of The Fed Raising The Inflation Target Is Outrageous (Boockvar) • On The Impossibility Of Helicopter Money And Why The Casino Will Crash (DS) • US Buyback Announcements Tumble to a 2012 Low (BBG) • Oil Drillers Have Slashed Spending For 2015-2020 By $1 Trillion • Only
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Harris&Ewing Buying Army surplus food sold at fish market 1919 • Global Central Banks Dump US Debt At Record Pace (CNN) • The $6 Trillion US Public Pension Sinkhole (MW) • UK Dividends at Risk as Pension Holes Deepen (BBG) • Japan Official Threatens Action If Yen Rises Too Sharply (WSJ) • Bank Of Japan Buying Sends Nikkei 225 To Highest In 18 Years (ZH) • The “Housing Crisis” in San Francisco Strangles Demand (WS) • Chinese Investors Are Largest
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Harris&Ewing Army surplus 1919 • Mining Giant BHP Slumps To Record Loss (BBC) • Chinese Traders Are Falling Out Of Love With Commodities (BBG) • China’s Fading Animal Spirits (BBG) • Germany Amassing Huge Surpluses – And Huge Risks (MW) • Bundesbank Floats Higher Retirement Age -69- in German Pension Debate (BBG) • Top UK Firms Paid Five Times More In Dividends Than Into Pensions (G.) • Pension Funds Are Driving The Biggest Bond Bubble In History (ZH) • Hedge
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NPC R.P. Andrews fire, 628 D Street N.W, Washington, DC 1912 • Younger Generation In UK Face Overwhelming Pensions Bill (G.) • British Millennials Are ‘Collateral Damage’ as Pension Gap Grows (BBG) • A Simple Test to Dispel the Illusion Behind Stock Buybacks (NYT) • The Bank of Japan’s Unstoppable Rise to Shareholder No. 1 (BBG) • Japan’s Economy Stalls In April-June, Casts Doubts On Abe’s Policies (R.) • China Is Hoarding Cash At The Fastest Pace Since Lehman (ZH)
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Harris&Ewing Goat team, Washington, DC 1917 • Silicon Valley May Get Hit By China’s ‘Virtual Reality’ Economy (CNBC) • High-Risk ‘Shadow’ Credit in China Put at $2.9 Trillion by IMF (BBG) • Insanity, Oddities and Dark Clouds in Credit-Land (AM) • The Next President Should Forgive All Student Loans (TIME) • The Big Idea about Private Debt (Steve Keen) • How to Break the Power of Money (Korten) • TTIP: The Suicide of Nations (PCR) • How Global Elites Forsake
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Harris&Ewing Red Cross Motor Corps, Washington, DC 1917 • The Central Bank Bubble And The Suspension Of Reality (CNBC) • US Farmland Bubble Bursts As Ag Credit Conditions Crumble (ZH) • China Property Oversupply Dampens Growth Outlook (R.) • IMF Says China’s Credit Growth Is Unsustainable (R.) • Negative Rates Reduce Japan Big Banks’ Profits By $2.96 Billion (R.) • Airing The IMF’s Dirty European Laundry (Eichengreen) • UK Treasury To Guarantee Post-Brexit Funding For EU-Backed Projects (G.) • The
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G. G. Bain At Casino, Belmar, Sunday, NJ 1910 • Private Lenders Increase the Risk of a Global Debt Crisis (TeleSur) • US Homeownership Dips to Lowest Rate Since 1960 (RCM) • The Next Huge American Housing Bailout Could Be Coming (TAM) • China’s Stimulus Efforts Show ‘Malinvestment Is Still Hard at Work’ (BBG) • The UK Is the New Engine of Bond-Market Distortion (WSJ) • A Really Vicious Circle Is Threatening UK Pension Pots (BBG) • IMF to ECB:
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G. G. Bain The new Queensboro (59th Street) Bridge over the East River, NYC 1909 • ‘Deutsche Bank Must Be Nationalized’ (Express) • Deutsche Bank Capital Gap Larger Than Its Entire Market Cap (ZH) • Beware The EU Dog That Doesn’t Bark (IE) • It’s Not Going To Be Pretty: German GDP Set To Stall (CNBC) • The Worst Place In The World To Bank (Simon Black) • BLS Just “Revised” Away Obama’s “Fastest” Wage Growth Since The Crisis (ZH)
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