Jack Delano “Lower Manhattan seen from the S.S. Coamo leaving New York.” 1941 Brexit is nowhere near the biggest challenge to western economies. And not just because it has devolved into a two-bit theater piece. Though we should not forget the value of that development: it lays bare the real Albion and the power hunger of its supposed leaders. From xenophobia and racism on the streets, to back-stabbing in dimly lit smoky backrooms, there’s not a states(wo)man in sight, and
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Walker Evans Vicksburg, Mississippi. “Vicksburg Negroes and shop front.” 1936 • Everyone’s a Winner in Brexit Aftermath as Doves Rescue Market (BBG) • The European Union Is ‘Doomed To Fail’ : Taleb (CNBC) • Hungary’s Migrant Referendum Shows Europe’s Post-Brexit Challenge (R.) • Kyle Bass Says China’s Corporate Bond Market Is ‘Freezing Up’ (BBG) • QE Only Works When You’re The Only Country Doing It: Kyle Bass (ZH) • Bad-Loan Ultimatum in India Sees Default Risk Climb Most in Asia
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Harris&Ewing Oil for salads 1918 • Japan Deflation Intensifies (R.) • Japan’s Prices Keep Falling in Challenge to Abe, Kuroda (BBG) • China QE Dwarfs Japan and EU (VW) • China To ‘Tolerate’ Weaker Yuan (R.) • China Is Headed For A 1929-Style Depression: Andy Xie (MW) • Asian Factories Struggle, Brexit Throws Up New Threats (R.) • Europe Post-Brexit (Brad Setser) • EU Approves Italian Contingency Plan To Guarantee Bank Liquidity (R.) • The Italian Job (DDMB) • Standard
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Harris&Ewing F.W. Grand store, Washington, DC 1925 • The End Of The EU Is Coming: Ron Paul (CNBC) • ‘British Pound Signals US Stocks Are About To Fall Hard’ (CNBC) • US Banks Beat Fed Stress Test as Deutsche Bank, Santander Fail Anew (BBG) • Deutsche Bank Is The Riskiest Financial Institution In The World: IMF (ZH) • Steve Keen on Brexit (Hartmann) • Singapore Bank Suspends London Property Loans (R.) • Was Brexit Fear A Giant Hoax Or Is
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Marion Post Wolcott Coal miner waiting for lift home, Capels, West Virginia 1938 George Osborne declared on Monday that the UK “is in a position of strength” (he meant the economy, not the football team). No, it is not. That’s why he and his ilk lost the vote. But Osborne’s actually thick enough to look in the mirror and tell himself he did a good job. Utterly blind to the people he keelhauled over the past 6 years. And no
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Walker Evans Shoeshine stand, Southeastern US 1936 • 16 Reasons To Celebrate Brexit’s Win (Bandow) • Brexit, a Step in the Right Direction (OTM) • Brexit Pulls Central Bankers In Conflicting Directions (WSJ) • When Central Planning Fails (ZH) • Cameron Wins Brexit Breathing Space At Gloomy EU Summit (AFP) • Draghi Wishes for a World Order Populists Will Love to Hate (BBG) • Exposure Of Asian Economies To UK Banks Will Cause Sharp Slowdown (SCMP) • Japan Inc.’s Yen
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Walker Evans Saint Charles Street. Liberty Theatre, New Orleans 1935 • Stocks Halt Brexit Selloff as Pound Rebounds With Commodities (BBG) • Asian Stocks Erase Losses as Japan Shares Gain on Stimulus Bets (BBG) • Jim Rogers On Brexit: Worse Than Any Bear Market You’ve Seen In Your Life (Y!) • Greenspan Warns A Crisis Is Imminent, Urges A Return To The Gold Standard (ZH) • European Banks Crash To Worst 2-Day Loss Ever As Default Risk Soars (ZH) •
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Harris&Ewing District National Bank, Washington, DC 1931 • I Walked From Liverpool To London. Brexit Was No Surprise (G.) • UK Will Emerge From Brexit Just Fine, It’s Europe That’s In Trouble (CNBC) • Britain ‘May Never’ Trigger EU Divorce (AFP) • Post-Brexit Global Equity Loss Of Over $2 Trillion Worst Ever: S&P (R.) • Firms Plan To Quit UK As City Braces For More Post-Brexit Losses (G.) • Brexit: Most Commentaries Miss The Point (Kuttner) • Raw Democracy: Why
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NPC Dedication of Francis Asbury statue, Washington, DC 1924 • Cameron Has Snookered Boris On Brexit, Article 50 (G.) • Brexit: ‘Half’ Of Labour Shadow Cabinet Set To Resign (BBC) • How David Cameron -And Jeremy Corbyn- Blew It (Pol.) • Brexit Is A Bear Stearns Moment, Not A Lehman Moment (Hunt) • Why the UK Said Bye Bye to the EU (Escobar) • Brexit ‘Perfect Storm’ For South Africans Overloaded With Debt (Fin24) • The Other Side To The
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Harris&Ewing Underwood Typewriter Co., Washington, DC 1919 • World’s 400 Richest People Lose $127 Billion on Brexit (BBG) • Global Markets Lose $2.1 Trillion In Brexit Rout (AFP) • [Friday Was] The Appetizer For Monday (ZH) • Alan Greenspan Says Brexit Is The ‘Tip Of The Iceberg’ For Europe (MW) • Bravo Brexit! (David Stockman) • The Sky Has Not Fallen After Brexit But We Face Years Of Hard Labour (AEP) • They Got It Wrong: Swarms of Global Chatterers
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