G. G. Bain Navy dirigible, Long Island 1915 • It’s A Crime To Be Poor In America (MarketWatch) • US States Are Not Prepared for the Next Fiscal Shock (Bloomberg)
Read More...Apr 102015
Apr 092015
Harris&Ewing Treasury Building, Fifteenth Street, Washington, DC 1918 • The Oil Industry’s $26 Billion Life Raft: Derivatives (Bloomberg) • Oil Tumbles 6.6%, Erasing This Year’s Gains (Reuters) • Exxon, BP in Deal Spotlight After Shell Buys BG Group (Bloomberg) • Shell-BG Deal Could Face Bumpy Ride From Partner Rights (Reuters) • Bankers Set To Reap $155million In Fees On Shell-BG Takeover (Bloomberg) • The US Government’s $800 Billion Gamble on Student Loans (Bloomberg) • Bernanke-Summers II: Savings Glut, Investment Shortfall
Read More...Apr 082015
Harris&Ewing Less taxes, more jobs, US Chamber of Commerce campaign 1939 It wouldn’t be a first, but it would certainly be a – bigger – shock. That is to say, the Bank of England hijacked the head of Canada’s central bank some time ago, but, while unexpected enough, that would pale in comparison to the US hiring the present Governor of the Russian central bank, Elvira Sakhipzadovna Nabiullina. It would still seem to be a mighty fine idea, though. Not
Read More...Apr 082015
Mathew Brady Three captured Confederate soldiers, Gettysburg, PA 1863 • US Dot-Com Bubble Was Nothing Compared to Today’s China Prices (Bloomberg) • The Coming $10 Trillion Loss in Paper Wealth (John Hussman) • The Great American Invasion Into Europe’s Debt Market Has Begun (Bloomberg) • Fed Needs Europe’s Permission To Raise Rates (CNBC) • US Failure to Stop China Bank Unmasks Fight Over World Finance (Bloomberg) • 15 Years Of Stimulus – Nothing To Show (David Stockman) • IMF Sees
Read More...Apr 072015
NPC Shad fishing on the Potomac 1920 • Oil Slump Pushes S&P Toward First Profit Decline Since 2009 (Bloomberg) • How America Became an Oligarchy (Ellen Brown) • Fidelity’s Wolf Says Zero Rate Inescapable in Oil-Shocked Canada (Bloomberg) • Greece Offers 5 Key Points For Consensus With Creditors (RT) • Greece Puts Figure Of €278.7 Billion On Claim For German Reparations (Guardian) • Varoufakis Extends DC Charm Offensive After Talks With Lagarde (Guardian) • Frustrated EU Officials Want Greek Premier
Read More...Apr 062015
G.G. Bain ‘Casino Theater playing musical ‘The Little Whopper’, NY 1920 • 7 Unfounded Fears About An Exit From The Euro (Beppe Grillo) • Teachers Warn Of ‘Victorian’ Poverty Among Pupils (BBC) • Once Over $12 Trillion, the World’s Reserves Are Now Shrinking (Bloomberg) • How Criminals Built Capitalism (Bloomberg) • Greek Political Unrest And Deepening Crisis Fuel Talk Of Snap Election (Guar.) • Greek Economy Staring At Recession Again (Kathimerini) • What Happens If Greece Defaults On Its IMF
Read More...Apr 052015
Underwood&Underwood Chicago framed by Gothic stonework high in the Tribune Tower 1952 For the second time in three years, I’m fortunate enough to spend some time in New Zealand (or Aotearoa). In 2012, it was all mostly a pretty crazy touring schedule, but this time is a bit quieter. Still get to meet tons of people though, in between the relentless Automatic Earth publishing schedule. And of course people want to ask, once they know what I do, how I
Read More...Apr 052015
Alfred Palmer New B-25 bomber at Kansas City plant of North American Aviation 1942 • Greek Parliament Committee to Investigate Who’s Responsible for Crisis (DPA) • Proposal For Creating A Parallel Currency In Greece (Andresen And Parenteau) • Greece Has Cash to Make IMF Payment Next Week, Minister Says (Bloomberg) • Germany Generously Offers To Freeze Bank Accounts Of Wealthy Greeks (Zero Hedge)
Read More...Apr 042015
DPC Coaches at Holland House Hotel on Fifth Avenue, NY 1905 • Huge Miss: +126,000 Jobs, Labor Force -631,000 in Two Months (Mish) • US Jobs Data: Winter of Discontent, Summer of Discomfort (WSJ) • Americans Not In The Labor Force Soar To Record 93.2 Million (Zero Hedge) • Michael Lewis: ‘I Knew Flash Boys Would Be A Bombshell’ (Guardian) • German Bank Files Lawsuit To Challenge ECB Supervision (WSJ) • Fannie Mae to Begin Auctioning Defaulted Home Loans to
Read More...Apr 032015
G.G. Bain Pelham Park Railroad, City Island monorail, NY 1910 • ‘EU Has Already Collapsed’– Beppe Grillo (RT) • The Principal And Interest On Debt Myth (Steve Keen) • Greece Scraps Hospital Visit Fee, To Hire 4,500 Health Workers (Reuters) • Greek Reforms: Right Direction Or Road To Ruin? (CNBC) • Greece Draws Up Drachma Plans, Prepares To Miss IMF Payment (AEP) • Tsipras To Seek ‘Road Map’ During Russia Visit (Kathimerini) • Eurozone Officials: No Loan Tranches For Partial
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