NPC Congressman John C. Schafer of Wisconsin 1924 • Is the U.S. Dollar Set to Soar? (CH Smith) • Pound Nears Three-Decade Low as May Sets Date for Brexit Trigger (BBG) • China Seeking To Succeed Where Japan Failed In Reserve Currency Push (BBG) • Deutsche Bank Races Against Time To Reach US Settlement (R.) • German Economy Minister Accuses Deutsche Bank Of Hypocrisy (Pol.) • It’s Not Just Deutsche. European Banking is Utterly Broken (Tel.) • Kuroda Blamed For
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DPC Belle Isle Park Aquarium, Detroit 1905 • Some Comments On The NYT Story About Donald Trump’s Tax Returns (Hempton) • US Government Deficit Numbers are a BIG Lie (WS) • Six (Ex-)Deutsche Bank Executives Charged in Monte dei Paschi Probe (BBG) • ‘Merkel Cannot Afford To Bail Out Deutsche Bank’ (R.) • Theresa May To Propose ‘Great Repeal’ Bill To Unwind EU Laws (G.) • Stupefied: How Organisations Enshrine Collective Stupidity (Aeon) • How Brussels Is Obstructing The Prosecution
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Lewis Wickes Hine Drift Mouth, Sand Lick Mine, near Grafton, West Virginia 1908 • Why You Should Be Skeptical Of That $5.4 Billion Deutsche Settlement (CNBC) • A Deutsche Bank Settlement Rumor Overshadows US Equities (R.) • Deutsche Bank Takes a Lashing From the German Public (WSJ) • Trump Will Win, Unless the S&P Rallies in October (BBG) • Global Trade Crashes Back To “Very Old Normal” (ZH) • Global Corporate Default Tally By Far Highest Since 2009 (Barron’s) •
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NPC Auto races, Rockville Fair, Montgomery County, Maryland 1923 • Deutsche Bank Shares Fall Below €10 First Time Ever; Commerzbank Down 6% (CNBC) • Gundlach: The Market Will Keep Pushing Deutsche Lower Till It’s Bailed Out (ZH) • Deutsche Bank Hedge Fund Clients Reduce Derivatives Exposure (BBG) • Fines, Withdrawals, Job Cuts. It Was an Ugly Day for Global Banks (BBG) • U.S. Stocks Retreat as Deutsche Bank Woes Hit Financial Shares (BBG) • Germany Under Pressure To Show It’s
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DPC “Wood Street, Pittsburgh, Pennsylvania.” 1905 • OPEC Agrees Modest Oil Output Curbs In First Deal Since 2008 (R.) • Congress Rejects Obama Veto, Saudi 9/11 Bill Becomes Law (R.) • Desperate Central Bankers (Stephen Roach) • Disturbing Facts About The Fed’s Phony Housing “Recovery” (Adler) • China’s Richest Man: Country’s Real Estate Is ‘Biggest Bubble In History’ (CNN) • Beige Book Sounds Warning Over Chinese Economy (WSJ) • China Property Bubble In Global Perspective (BBG) • ‘Radioactive’ Deutsche Bank
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DPC Heart of Chinatown, San Francisco, after earthquake and fire 1906 • Small Army Of Fed Speakers, OPEC On Tap For Wednesday (CNBC) • “Negative Growth” of Real Wages is Normal for Much of the Workforce (WS) • Grocery Prices Are Plunging (BBG) • EU Banking Mayhem, One Bank at a Time, then All at Once (WS) • Deutsche Bank Troubles Cast Long Shadow Over European Banking (BBG) • IMF Warns Central Banks Could Lose Deflation Fight (AFP) • A
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Arnold Genthe “Chinatown, San Francisco. The street of the gamblers at night” 1900 • Why I Switched My Endorsement from Clinton to Trump (Scott Adams) • When America Was Great, Taxes Were High, Unions Strong, and Government Big (A.) • Global Debt Reaches Fresh High As Companies And Countries Keep Borrowing (Tel.) • When Small Is Evil (DQ) • Structural Growth and Dope Dealers on Speed-Dial (Hussman) • Treasury Market’s Biggest Buyers Are Selling as Never Before (BBG) • Deutsche
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Dorothea Lange Family of rural rehabilitation client, Tulare County, CA 1938 It’s over! The entire model our societies have been based on for at least as long as we ourselves have lived, is over! That’s why there’s Trump. There is no growth. There hasn’t been any real growth for years. All there is left are empty hollow sunshiny S&P stock market numbers propped up with ultra cheap debt and buybacks, and employment figures that hide untold millions hiding from
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NPC Fire at Thomas Somerville plant, Washington DC 1926 • Asian Markets Drop As Pessimism Increases Ahead Of OPEC Meeting (MW) • Deutsche Bank Slumps to Fresh Record Low on Capital Concerns (BBG) • China’s Smaller Banks Are Funding Each Other’s Lending (BBG) • China Launches $52.5 Billion Restructuring Fund For State-Owned Firms (R.) • A Weaker Currency Is No Longer the Economic Elixir It Once Was (BBG) • US Home Prices Rose 76% Since 1999 As Real Income Grew
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Harris&Ewing Boy Scout farm 1917 • The Market Is In Line With History. The History Of Crashes (Stockman) • How to Suffocate Your Economy: Drown it in Massive Private Debt (Vague) • Vancouver Property Sales To Foreigners Crash 96% (ZH) • Merkel Rules out State Assistance for Deutsche Bank (BBG) • EU Must Turn Off the Dividend Spigot at Under-Capitalized Banks (PS) • China Continues to Battle Massive Capital Flight Problem (Brink) • Naked Shorts Can’t Stay Naked Forever (Dayen)
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