Daniel Lacalle: The Synchronized Growth Fallacy
“What we were being told was synchronized growth was synchronized debt growth”
Map of the Day: The Ancient History of the Middle East, Every Year
The rise and fall of the earliest civilizations in human history
Map of the Day: When the British Empire was Larger than the Chinese Empire
“The disruption of China would seriously affect the rest of the world|but the collapse of the British Empire would be followed by results incalculably greater, and it is no exaggeration to say that it would convulse the whole fabric of human society”
Image of the Day: Belgian Marketplace
Samuel Prout (1783-1852)
Louis-Vincent Gave: China Believes the US Won’t Endure Economic Pain
“Meanwhile if you go to Beijing, the view is that… the US is really incapable of taking any kind of economic pain”
Wolf Richter: Why Rising Mortgage Rates Threaten Canada’s Housing Market
In Canada, you have adjustable rate mortgages and variable rate mortgages that dominate
Taps Coogan: Out with BTFD, In with BTFR
So while bad news may finally be bad news again, very bad news may very well be the best news of all for markets
Andy Brenner: New NAFTA Deal Isolates China
“This will encourage the President to pursue his current China strategy”
Image of the Day: The Hoover Dam Without Water
The Hoover Dam before it was filled with water, 1936
Map of the Day: The Great Northern War
Much like Napoleon and Hitler’s failed invasions of Russia in the following centuries, Swedish forces were hampered by the coldest winter in 500 years while in Russia