AUG 3 SIT ECON y POL
ZERO HEDGE
"The
Worldwide Credit Boom Is Over, Now Comes The Tidal Wave Of Global
Deflation". Submitted
by Tyler Durden on 08/03/2015
When we insist that markets are broken and the equities have
been consigned to the gambling casinos, look no farther than today’s filing by
Alpha Natural Resources. Markets, which were this wrong on a prominent name
like ANRZ at the center of the global credit boom, did not make a one-time
mistake; they are the mistake. As it now happens, the global credit boom is
over; DM consumers are stranded at peak debt; and the China/EM investment
frenzy is winding down rapidly. Now comes the tidal wave of global
deflation...
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Obama's
Climate Fascism Is Another Nail In The Coffin For The U.S. Economy. Submitted
by Tyler Durden on 08/03/2015
Is Barack Obama trying to kill the economy on purpose? He
promised to fundamentally transform America, and he is doing it in hundreds of
different ways. These new greenhouse gas regulations are just one
example. Our nation is being gutted like a fish, and most Americans don’t
seem to care. What in the world will it take for this country to
finally wake up?
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Breaking
Down China's $23 Trillion Debt Pile. Submitted by Tyler
Durden on 08/03/2015
Back in April, we highlighted Beijing’s "massive
debt problem", noting that as of last year, total debt in China
amounted to some $28 trillion when you include government debt, corporate
debt, and household borrowing. [WHAT IS THE US DEBT IF WE ADD ALL THESE ITEMS? ]
However “Beijing has recently shown a willingness to
tolerate defaults and the case of Baoding Tianwei Group Co even suggested that
in some instances, state-affiliated companies may not receive immediate
government support. Nevertheless, the abrupt
180 on LGVF financing and the transformation
of the local government debt restructuring initiative into the Chinese version
of LTROs betrays the extent to which China is still reluctant to deleverage its
economy in the face of flagging growth “.
[El arte de mentir con #s no les funciona bien
a los alarmistas americanos: Si en Abril
la deuda era de 28 trillones y a fines de julio bajo a 23 -eso es: 5 trillones menos en 4 meses- significa
que en un año esa deuda podrÃa bajar en 15 trillones y que en 2 años tendrÃan deuda
zero. En otras palabras significa que la terapia que hoy aplican –desenganche
con el modelo neoliberal- es sumamente efectiva.
Dudo que esa hazaña pueda lograrse en USA donde las grandes mafias corpor
tienen control del Estado ]
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Why
The U.S. Is the Next Greece: Doug Casey On America's Economic Problems.
Submitted by Tyler Durden on 08/03/2015
"With these stupid governments printing trillions
and trillions of new currency units," warns
investor Doug Casey, "it's building up to a catastrophe of
historic proportions." In an excellent brief interview with Reason
magazine Editor-in-Chief Matt Welch, Casey expounds on the US noting that
"as any institution gets larger and older it inevitably becomes corrupt
and fails." What to do? "I wouldn't keep significant capital
in banks," he exclaimed, "most of the banks in the world are
bankrupt. That didn't stop the "brain dead" Greeks who left their
money in banks as all the signs were on the wall, he notes as he addresses
whether gold is a good investment in 2015, and offers back-handed bright side:
Catastrophes create many opportunities to earn a profit.
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First
Default By U.S. Commonwealth In History: Puerto Rico Fails To Make Required Debt
Payment. Submitted by Tyler
Durden on 08/03/2015
"Due to the lack of appropriated funds for this fiscal
year the entirety of the PFC payment was not made today. This was a decision
that reflects the serious concerns about the Commonwealth's liquidity in
combination with the balance of obligations to our creditors and the equally
important obligations to the people of Puerto Rico to ensure the essential
services they deserve are maintained."
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Fed
Finally Figures Out Soaring Student Debt Is Reason For Exploding College Costs.
Submitted by Tyler Durden on 08/03/2015
We are delighted to report that about 7 years after it was
glaringly obvious to everyone except the Fed of course, now - with the usual
half decade delay - even the NY Fed has finally figured out what even 5 year
olds get. "A new study from the New York Federal Reserve faults these
policies for enabling college institutions to aggressively raise tuitions. The
implication is the federal government is fueling a vicious cycle of higher
prices and government aid that ultimately could cost taxpayers and price some
Americans out of higher education, similar to what some economists contend
happened with the housing bubble."
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"This
Is The Largest Financial Departure From Reality In Human History".
Submitted by Tyler Durden on 08/03/2015
We have lived through a credit hyper-expansion for the
record books, with an unprecedented generation of excess claims to underlying
real wealth. In doing so we have created the largest financial departure
from reality in human history. Bubbles are not new – humanity has
experienced them periodically going all the way back to antiquity – but the
novel aspect of this one, apart from its scale, is its occurrence at a point
when we have reached or are reaching so many limits on a global scale. The
retrenchment we are about to experience as this bubble bursts is also set to be
unprecedented, given that the scale of a bust is predictably proportionate to
the scale of the excesses during the boom that precedes it. Deflation and
depression are mutually reinforcing, meaning the downward spiral will continue
for many years. China is the biggest domino about to fall, and from a great
height as well, threatening to flatten everything in its path on the way down.
This is the beginning of a New World Disorder…
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Fed
Admits Economy Can't Function Without Bubbles. Submitted by Tyler
Durden on 08/03/2015
The Fed would have needed to hike rates by 800 bps in the
wake of the dot-com collapse in order to prevent the housing bubble. That would
have purged the system and gradually, the FOMC could have eased by around 300
bps over the next four years. That policy course would have prevented the
speculative bubble that brought capital markets the world over to their knees
in 2008. And why didn’t the Fed do this? Because "such a large increase in
interest rates would have depressed output more than the Great Recession
did." In other words, thanks to Alan Greenspan, the US economy cannot
function under a normalized monetary policy regime.
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Why
The Commodity Carnage Matters (In 1 Simple Chart). Submitted by Tyler
Durden on 08/03/2015
How many more times will we be told that "it"
doesn't matter... or it is "transitory" with regard any and every
flashing red warning signal from asset values that are not centrally
manipulated with regard asset values that are 'plunge protected'? Well to try
and kill one of those myths off, we present the following chart... showing how a
collapse in commodity prices is unequivocally bad for US equity markets...
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Jimmy
Carter Rages At What The U.S. Has Become: "Just An Oligarchy With
Unlimited Political Bribery"
. Submitted by Tyler Durden on 08/03/2015
"It violates the essence of what made America a
great country in its political system. Now it’s just an oligarchy, with
unlimited political bribery being the essence of getting the nominations for
president or to elect the president. And the same thing applies to
governors and U.S. senators and congress members. So now we’ve just seen a complete
subversion of our political system as a payoff to major contributors, who
want and expect and sometimes get favors for themselves after the election’s
over."
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Amid
Escalating Violence In Turkey, Erdogan Says Putin Ready To "Give Up On
Assad". Submitted by Tyler
Durden on 08/03/2015 [ Just a false flag
from Erdogan.. Fact: putting is sending guns to Iran & Iran is
supporting Assad and PPK. Los 2 bufones del medio
oriente Netanyahu y Erdo … sin futuro ]
As opposition lawmakers accuse Tayyip Erdogan of blocking
efforts to form a coalition government, Ankara says the PKK orchestrated a
suicide attack that killed three Turkish soldiers. Meanwhile, Erdogan says
Vladimir Putin is ready to "give up on" Bashar al-Assad in Syria.
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Obama
Authorizes "Defensive" Airstrikes Against Assad Regime In Syria
. Submitted by Tyler Durden on 08/03/2015 [ Para lo que sirve nuestro premio nobel de la paz.. para incinerar
inocentes civiles. READ THIS: ‘US
strikes in region kill 100s of civilians’ ]
"President Barack Obama has authorized using air power to defend a new U.S.-backed fighting force in
Syria if it is attacked by Syrian government forces or other groups,
raising the risk of the American military coming into direct conflict with the
regime of President Bashar al-Assad," WSJ reports.
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Another
One Bites The Coal Dust - Alpha Natural Files For Bankruptcy. S- by Tyler
Durden on 08/03/15
Amid the collapse in coal prices, not helped by the 'China
situation' and President Obama's nudge, WSJ
reports that the ailing US coal just got another black eye as Alpha
Natural Resources is expected to file for chapter 11 bankruptcy protection
early Monday to cut its more than $3 billion debt load. After four straight
annual losses, Alpha - one of America's largest coal producers - has secured
$692mm in DIP financing as it prepares its restructuring plan expected to sell
some of the best mines and shutter others. It appears the Arch Coal's CEO's
ominous words last week were prophetic - “Coal markets are as difficult
as I’ve seen them during my 30 years in the industry." [ How many people is
affected? ]
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Hilsenrath:
Fed Doesn't "Demand" Wage Growth Before Rate Hike. Submitted by Tyler Durden on 08/03/2015
If last week's shocking crash in the Employment Cost Index
(ECI) to the smallest
increase on record, was enough for some to seal the deal that the Fed will
not hike rates for the balance of 2015 (and perhaps ever), here comes the Fed's
unofficial mouthpiece, WSJ's Jon "Stingy Consumers" Hilsenrath, to
debunk any such speculation with a note which likely came straight from the Fed
titled the "Fed Doesn’t Demand Wage Growth Before
Increasing Interest Rate."
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Greek
Stocks, Economy Collapse, Suffer Worst Declines In History. S- by Tyler
Durden on 08/03/2015
The Athens Stock Exchange reopened on Monday after a
five-week hiatus. Stocks fell nearly 23% out of the gate with the country's
insolvent banks trading limit-down. Meanwhile, Markit confirmed that the Greek
economy has for all intents and purposes collapsed, with Greece's manufacturing
PMI printing at 30.2. New orders plunged to just 17.9, betraying a contraction
of unprecedented depth.
[ Las ratas de la
troika firmaron convenio, se comprometieron a cumplirlo.. para luego quitarse
.. pero Grecia sigue en la EU .. la pobreza que acecha los obligara a salirse y
será en pacto con otros de la EU ]
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Submitted by Tyler
Durden on 08/03/2015 - 07:35
- Deadline Draws Near for Puerto Rico (WSJ)
- U.S. to defend Syrian rebels with airpower, including from Assad (Reuters)
- Alpha Natural Resources to Seek Chapter 11 (WSJ)
- Iran’s Rouhani Says Nuclear Deal ‘More Than What Was Imagined’ (BBG)
- Cables Show Hillary Clinton's State Department Deeply Involved in Trans-Pacific Partnership (IBTimes)
- Win or Lose, U.S. Stocks Get Biggest Earnings Bang Since ’12 (BBG)
- Weaker China factories argue for more policy support as stocks swoon (Reuters)
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Chinese
Stocks Slide Again, Copper Tumbles To 6 Year Low; Greek Market Crashes After
One Month Trading Halt. Submitted by Tyler
Durden on 08/03/2015
If China had hoped it would root out intervention by
eliminating Citadel's rigging algos, and unleash a buying spree it was wrong:
the Shanghai Composite opened negative, and never managed to cross into the
green, despite the usual last hour push higher, ending down -1.1% and down for
6 of the past 7 days. The real action, however, was not in Asia but in Europe,
and specifically Greece, where the stock market finally reopened after a 1+
month "capital control" hiatus. Despite the attempt to micro manage
the reopening, the result was not pretty, with stocks crashing 23% at the open
and staging barely a rebound trading -17% as of this moment, even as banks
promptly traded down to the -30% limit as the realization that an
equity-eviscerating recapitalization (or bail-in) is now inevitable.
[ El efecto immediato
sera la subida de precios de mercancias Chinas en el oeste.. plus other ef]
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Something
Just Snapped: Container Freight Rates From Asia To Europe Crash 23% In One Week.
Submitted by Tyler Durden on 08/03/2015
It appears that the recent spike in shipping rates was
analogous to the dead cat bounce in crude oil prices: a speculator-driven
anticipation for a sustainable rebound that never took place. And now, just
like with crude prices, it is all crashing down.... again. According to Reuters,
shipping freight rates for transporting containers from ports in Asia to
Northern Europe dropped 22.8 per cent to $400 per 20-foot container (TEU) in
the week ended last Friday, data from the Shanghai Containerized Freight
Index showed.
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GLOBAL RESEARCH
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NEWS IN SPANISH
La polÃtica otomana de TurquÃa es la generalización del genocidio
armenio contra los pueblos del Oriente Medio. Mehmet Ali Dogan y
MartÃn De Battista
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“El oligopolio bancario actúa como una banda organizada” Eduardo Febbro
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Grecia. La (fascinante)
historia de la criptomoneda alternativa que podrÃa salvar a Grecia (y quizás al
mundo). Laia Gordi
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Las revoluciones. En Cuba aplacada, en
Venezuela perpleja y en México aplazada… por EEUU
Pedro EcheverrÃa V.
Pedro EcheverrÃa V.
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Balance crÃtico del Gobierno de Rafael Correa. Francisco Muñoz Jaramillo (ed.) E-book
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Colombia Santos sigue por el
suelo y crecerá movilización popular con paros cÃvicos. Horacio Duque
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RT LATEST SHOWS
Off the grid . Obama
administration “hell-bent” on keeping war crimes secret, Jesse interviews Max
Blumenthal
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PRESS TV
‘US
strikes in region kill 100s of civilians’ . A report says the US-led so-called anti-ISIL coalition has
killed at least 459 civilians
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US
aid to Syria militants helps ISIL: Russia . Russia criticizes US plans for delivering aid to militants in
Syria, saying the move helps ISIL
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'US
escalating military role in Syria'. Mon Aug 3, 2015 The US is escalating its military involvement in Syria to
target the Assad government, a peace activist and analyst in Washington says.
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ISIL
executes 19 Iraqi women in Mosul.
Mon Aug 3, 2015 ISIL militants kill 19 Iraqi women in Mosul because they
refused to marry members of the terrorist group.
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