William Henry Jackson Camp wagon on a Texas roundup 1901 • Nuclear Specter Redux: ‘Threat of War Is Higher than in the Cold War’ (Spiegel) • Ukraine Right Sector Leader Rejects Peace Deal, Vows ‘To Continue War’ (RT) • Yes, Yellen Can Have It All as She Gets Ready to Raise Rates (Bloomberg) • One Hundred Years of Austerity (Bloomberg) • Greek Government Doesn’t Hold Out Much Hope For A Deal On Monday (Kathimerini) • Hopes Of Greek Debt Deal
Read More...
John M. Fox Garcia Grande newsstand, New York 1946 • $9 Trillion Question: How Will The World Deal With A Fed Rate Rise? (Bloomberg) • One Big Fear With A Strong Dollar: A Stock Market Bubble (MarketWatch) • Another Disappointing US Retail Sales Report (Bloomberg) • Iceland: We Jail Our Bad Bankers And You Can Too (Reuters) • Greece Is Simply ‘Too Big To Fail’ (CNBC) • European Central Bank Throws Greece Lifeline Before Eurozone Talks (Guardian) • ‘Grexit’ Would
Read More...
Dorothea Lange Water supply in squatter camp near Calipatria CA 1937 It was already present over the past two weeks, for example in Yanis Varoufakis’ meetings with Eurogroup head Jeroen Dijsselbloem and German FinMin Schäuble, awkwardly obvious in facial expressions and body language. A touch of personal discomfort. A touch of a threat that required chest-thumping and hubris to be brushed off. ‘You better do what we say or else’. Back then, perhaps it was still experienced from a political,
Read More...
Byron In Chinatown, Pell Street, New York 1900 • Eurogroup Fails to Agree to Next Greek Bailout Steps (Bloomberg) • Rejected Eurogroup Draft Spoke Of “Extending” Greek Bailout (Reuters) • Greece And Eurozone In Stalemate Over Debt Burden (Guardian) • Greece Said to Offer Euro Area Four Principles for Talks (Bloomberg) • Germany Faces Impossible Choice As Greek Austerity Revolt Spreads (AEP) • Eurozone Leaders Believe Syriza Must Fail And Be Seen To Fail (Telegraph) • If The Greek Olive
Read More...
John M. Fox WCBS studios, 49 East 52nd Street, NYC 1948 • Truth to Power: This Man Will Never Be Invited Back On CNBC (Zero Hedge) • Nobody Understands Debt – Including Paul Krugman (Steve Keen) • Cornered Greeks Brace For Confrontation (BBC) • Greek PM Tsipras Wins Confidence Vote Before Talks With Creditors (NY Times) • Greece’s Last Minute Offer To Brussels Changes Absolutely Nothing (AEP) • Europe’s Greek Showdown: The Sum Of All Statist Errors (David Stockman) •
Read More...
Dorothea Lange American River camp, Sacramento, CA. Destitute family. 1936 I don’t know about you, but I’m having a ball reading up on the preparations for the Wednesday/Thursday talks between Greece and .. well, everybody else. German FinMin Schäuble proudly declares that it’s do what I tell you or you’re finished, Greek FinMin Varoufakis says prepare for a clash. Greek advisors Lazard say a $100 billion debt reduction sounds reasonable, and some anonymous EU official says Lazard are incompetent and
Read More...
Arthur Rothstein Scene along Bathgate Avenue in the Bronx Dec 1936 • Global Financial System Stands On The Brink Of Second Credit Crisis (Telegraph) • Chinese Inflation Falls To 0.8% Amid Fears Of Deflationary Spiral (Guardian) • Greek Revolt Over Austerity Is Long Overdue (CNBC) • If Germany Holds Firm On EU Deal, Greece Can Look To US, Russia, China (RT) • US Defends Unruly Greece As Europe Steps Up ‘Grexit’ Threats (AEP) • The ECB Should Stay Out of
Read More...
Arthur Rothstein Going to church to pray for rain, Grassy Butte, North Dakota Jul 1936 Greek PM Alexis Tsipras yesterday laid out Syriza’s stance, and from what I saw he didn’t pull even one punch. Despite all the suggestions from the financial press throughout the past week that Tsipras and Varoufakis reneged on campaign promises to seek debt write-downs, they didn’t, and never have – other than perhaps in semantics. Which I don’t find the slightest bit surprising. I would
Read More...
NPC Ezra Meeker’s Wild West show rolls into town, Washington DC May 11 1925 • The Swiss Leaks (60 Minutes) • HSBC Files: Swiss Bank Helped Clients Dodge Taxes And Hide Millions (Guardian) • US Government Faces Pressure After Biggest Leak In Banking History (Guardian) • Greek Leader Tsipras Pledges to Press Ahead on Undoing Austerity Measures (WSJ) • Greenspan Predicts Greece Exit From Euro Inevitable (BBC) • Greek Finance Minister Says Euro Will Collapse If Greece Exits (Reuters) •
Read More...
DPC New Orleans milk cart 1903 • Tsipras Scrambles to Find a Way Forward for Greece (Bloomberg) • Europe’s Revolt Isn’t Just In Greece Or Spain (MarketWatch) • Greece Could Run Out of Cash in Weeks (WSJ) • Syriza and the French indemnity of 1871-73 (Michael Pettis) • Democracy Could Have Saved Europe From The Disastrous Single Currency (Hannan) • Sarkozy: Crimea Cannot Be Blamed For Joining Russia (RT) • Merkel Objection to Arms for Ukraine May Spur Backlash for
Read More...