Harry Callahan Chicago 1947 • Albert Edwards: The Bank Of England’s ‘Monetary Schizophrenia’ (CW) • 4-Warnings For The Bull Market (Roberts) • QT1 Will Lead to QE4 Rickards) • S&P Strips Hong Kong of AAA Rating A Day After China Downgrade (BBG) • China Hits Back At S&P’s ‘Mistaken’ Credit Downgrade (AFP) • Jamie Dimon Faces Market Abuse Claim Over Bitcoin Comments (ZH) • Spain’s Attack On Catalonia Spills Over To 100,000 Domain Names (IN) • Spain Hires Cruise
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Pablo Picasso Jacqueline in Turkish costume 1955 • Yellen Brushes Aside Inflation ‘Mystery’ While Fed Eyes Rate Hike (BBG) • Federal Reserve Will Continue Cutting Economic Life Support (Smith) • What Shiller Says Is Preventing A 1929-Like Stock Market Crash (CNBC) • Stock Market Bubbles in Perspective (Ma) • We’re Officially In The 2nd-Largest Bull Market Since World War II (BI) • Who’s Pulling The Strings? (Ren.) • 144 Years Ago A Panic Shut Down The Stock Market For
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Edward Hopper Automat 1927 • Australia: A Delusional, Stuffed, Basket Case, Bubble, Third World Economy (MB) • With QT On The Way, This Market ‘Is Headed For A Brick Wall’ (Boockvar) • Where Deutsche Bank Thinks The Next Financial Crises Could Happen (CNBC) • Just 4% Own Over 95% Of Bitcoin (HowMuch) • MPs Want Public Inquiry Into UK’s £200 Billion Household Debt Crisis (G.) • Millennials Spend Three Times More Of Income On Housing Than Grandparents (G.) •
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Wynn Bullock Child on a Forest Road 1958 A few days ago, former Reagan Budget Director and -apparently- permabear (aka perennial bear) David Stockman did an interview (see below) with Stuart Varney at Fox -a permabull?!-, who started off with ‘the stock rally goes on’ despite a London terror attack and the North Korea missile situation. His first statement to Stockman was something in the vein of “if I had listened to you at any time after the past
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Edouard Manet Portrait of Emile Zola 1868 • When The Market Finally Implodes, Don’t Say These Charts Didn’t Warn You (MW) • S&P 500 Buybacks Have Dropped By 25% Since The First Quarter Of 2016 (MW) • Fed’s Balance-Sheet Unwind Will Be Moment Of Truth For Financial Markets (MW) • $700 Billion Unpaid Mortgage Balances In Harvey And Irma Disaster Areas (ZH) • Rand Paul’s Senate Vote Rolls Back the Warfare State (Ron Paul) • US Senate Backs Massive
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Pablo Picasso The old fisherman 1895 • Muted Inflation A Trillion-Dollar Puzzle – BIS (R.) • Global Debt Underreported By $14 Trillion – BIS (ZH) • World’s Central Banks Can’t Ignore the Bitcoin Boom – BIS (BBG) • Dogecoin Creator On Cryptocurrencies: “Very Bubble. Much Scam. So Avoid.” (NYT) • The Future Of Cryptocurrency Is Not As It Seems (Eric Peters) • China’s $40 Trillion Banking System: “Largest Imbalances I’ve Ever Seen” (ZH) • Stockman: Trump’s Now ‘Blowing Kisses
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Edward Hopper House tops 1921 • Trade War With China Will End US Global Finance Monopoly – Jim Rogers (RT) • Pension Storm Warning (Mauldin) • S&P On The Verge Of History (ZH) • How Austerity Works (Steve Keen) • Why Bitcoin May Be Worth Only A Third Of Its Value (MW) • How Common is the Seneca Curve? (Ugo Bardi) • Greek Debt Write-Offs To Be Based On Properties (K.) • The Eurozone May Be Back On Its
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Pablo Picasso Garcon à la Pipe 1905 • To Hell In A Bucket: America Is Going Broke At Mach 30 (Gordon) • Down $20 Billion, Boeing Stuffs Pension Fund With Its Own Shares (BBG) • Toys ‘R’ Us Mulls Chapter 11 Bankruptcy Filing (R.) • Bitcoin Needs To Be Worth $1,000,000 To Be A Legitimate Currency (MW) • Hillary Happened (Jeffrey St. Clair) • Trump And The Democrats: What’s Next: A Deal With Bernie? (Salon) • The OODA Loop
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Juan Gris Portrait of the artist’s mother 1912 • Fed To Take Historic Leap Into The Unknown (MW) • Janet Yellen’s Right-Hand Man Is Hanging Up His Boots (BI) • 97 Million American Workers Are Living Paycheck To Paycheck (ZH) • “Markets Are Wrong” (Hugh Hendry) • Japanese Told To Find Shelter After North Korea ‘Fires New Missile’ (Y.) • JPMorgan Is In A Bubble And Not Bitcoin – Max Keiser (RT) • Why Europe Will Miss The Disruptive
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Edward Hopper Chop Suey 1929 • Top Democrats Announce Deal With Trump To Protect ‘Dreamers’ (MW) • Fed Balance Sheet Reduction Will Reduce Funds Sent To Treasury (BI) • “You Should Take the Fed at Their Word” (WS) • “Markets Have Always Been Wrong” – Jamie Dimon (ZH) • 10% of Global GDP Is Stashed In Tax Havens (BI) • Did You Know Housing Gets Counted Twice In GDP? (Murray) • The Real Earnings of Men (WS) • China’s
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