Gottscho-Schleisner New York City views. Looking down South Street 1933 • China’s Hard Landing Began Last Year, And It’s Going To Get Worse (SCMP) • China’s Latest Export: Broken Deals (WSJ) • US Construction Spending Collapses – Worst April Since 2009 (ZH) • Banks’ Embrace of Jumbo Mortgages Means Fewer Loans for Blacks, Hispanics (WSJ) • Brexit, Spexit, Grexit and Frexit Could All Collide In June 23 Weekend (MW) • Donald Trump To Visit UK On Day Of EU Referendum
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Arthur Rothstein Steam shovels on flatcars, Cherokee County, Kansas 1936 • China’s Debt Bubble Bigger Than Subprime Bubble (MW) • Yuan Tumbles As China PMI Miraculously Hugs Flatline (ZH) • Double Blow for China Banks as Fed Worry Meets June Cash Crunch (BBG) • Hong Kong April Retail Sales Fall 7.5%, 14th Straight Month (R.) • Abenomics “Death Cross” Strikes As Japan PMI Plunges To 40-Month Lows (ZH) • Pension Funds Pile on Risk Just to Get a Reasonable Return
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Jack Delano Long stairway in mill district of Pittsburgh, Pennsylvania 1940 • Mizuho Chief: Tax Delay Means Abenomics Has Failed (WSJ) • One-Minute Plunge Sends Chinese Stock Futures Down by 10% Limit (BBG) • The Big Short Is Back in Chinese Stocks (BBG) • You’re Witnessing The Death Of Neoliberalism – From Within (G.) • Australia’s Big Four Banks Are Much More Vulnerable Than They Appear (Das) • Ceta: The Trade Deal That’s Already Signed (G.) • Britain Is ‘World’s
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Jack Delano Foggy night in New Bedford, Massachusetts 1941 • The Mystery of Weak US Productivity (Luce) • China Default Chain Reaction Threatens Products Worth 35% of GDP (BBG) • China’s Veiled Loans May Prove Lethal (BBG) • How Many Bad Loans Might China Have? (BBG) • Easy Money = Overcapacity = Trade Wars = Deflation (Rubino) • Negative Rates Fail to Spur Investment for Corporate Europe (BBG) • Saudi Arabia’s Petrodollar Reserves Fall to 4-Year Low (BBG) • CEO
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Matt Black/Magnum Photos USA. El Paso, Texas. 2015 • Iceland Puts Freeze on Foreign Investors (WSJ) • Japan’s Abe To Delay Sales Tax Hike Until 2019 (R.) • Fade The Oil Bounce (CNBC) • Trade Deals Going Nowhere (DR) • Schrödinger’s Cat Gets a Playmate (CSM) • The Geography of American Poverty (G.) • Miracle In Athens As Greek Tourism Numbers Keep Growing (Observer) • The EU Has Turned Greece Into a Prison for Refugees (Nation) • 13,000 People Rescued
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Jack Delano Row houses, Baltimore 1940 • Yellen Leans Toward Near-Term Rate Rise Without Detailing Timing (BBG) • Trump: Only ‘Dummies’ Believe Fed’s Unemployment Figure (Crudele) • Japan’s Abe Plans Up to $90.7 Billion Stimulus (BBG) • US Farm Belt Banks Tighten the Buckle (WSJ) • Companies Go on Worldwide Bond Bender With $236 Billion of Sales (BBG) • Clinton Lurks in Shadows When Sparring With Sanders on Banks (BBG) • Toronto’s Red-Hot Market Sends Property Values Soaring (Star) •
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Jack Delano Near Shawboro, North Carolina, Florida migrants on way to Cranberry, NJ 1940 • Bill Gross Trying to Short Credit to Reverse Four Decades of Instinct (BBG) • “Japan Is Already Doing Helicopter Money” (BBG) • “China’s Economy Resembles A Spinning Top Running Out Of Momentum” (RD) • US-China Economic Poker Game Looms With Market Calm at Stake (BBG) • China Stocks Head for Longest Weekly Losing Streak in Four Years (BBG) • Chinese Buyers Are Losing Interest In
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NPC Graf Zeppelin over Capitol 1928 • Britain’s Property Market Is Going To Implode (BI) • Trillions in Debt—but for Now, No Reason to Worry (WSJ) • IMF: No Cash Now for Greece Because Europe Hasn’t Promised Debt Relief (WSJ) • China’s ‘Feud’ Over Economic Reform Reveals Depth Of Xi’s Secret State (G.) • Chinese Officials To Ask US Counterparts When Fed Will Raise Rates (BBG) • Fear Of UK Steel Sector’s ‘Death By 1,000 Cuts’ (Tel.) • Varoufakis: Australia
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G.G. Bain Immigrants arriving at Ellis Island, New York 1907 There’ve been a bunch of issues and topics on my -temporarily non-writing- mind, and politics, though as I’ve often said it’s not my preferred focus, keeps on slipping in. That’s not because I’ve gotten more interested in ‘the game’, but because the game itself is changing in unrecognizable fashion, and that is intricately linked to subjects I find more appealing. For instance, in the past few days, I’ve read Matt
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Alfred Palmer Conversion. Beverage containers to aviation oxygen cylinders 1942 • Hillary Clinton Loves To Trumpet Bill’s Budget Surplus. She Shouldn’t. (Week) • Jeff Gundlach Says US Stock Market Is ‘Dead Money’ (R.) • Eurozone Hails ‘Breakthrough’ With Greece, IMF Debt Deal (R.) • Draghi Running Out Of Options After Draining Bond Market by $800 Billion (BBG) • China Weakens Yuan Fixing to Lowest Since 2011 (BBG) • China Says It Has Conquered Commodities Trading Frenzy (BBG) • New York,
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