JUL 15 16 SIT EC
y POL
….
SOCIALISM WILL NEVER DIE.. IF ONE FALLS ANOTHER WILL TAKE THE
POST
IT IS PEOPLE THAT WANTED SO,.. THE REVOLUTION WILL CONTINUE ..
Arriba los pobres del mundo .. de pie
los esclavos sin pan. VENCEREMOS!
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ZERO HEDGE
ECONOMICS
Despite the
rip-roaring rally in stocks, Brexit had a significant effect on the wealthiest
third of US incomes as UMich Consumer
Expectations (i.e. "Hope") tumbled to its lowest since September 2014.
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Following a 0.3%
decline in May, Industrial Production rose 0.6% in June (better than the 0.3%
rise expected) but year-over-year remains lower (-0.7%) for the 10th straight
month. This is the longest
non-recessionary streak of industrial production declines in US history.
Gains on the month were driven by motor vehicle assembly (which is ironic
givenm near-record inventories), but Q2 ended with a decline of 1.0% - the 3rd
quarterly decline in a row (also not experienced without a recession).
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“We’re starting to see upward pressure on the
inflation numbers,... reinforces
the case for the Fed to resume tightening, though they’re highly risk
averse right now.”
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Having slowed in May
after April's spike, US Retail Sales in June jumped notably by 0.6% (much
better than the expected 0.1% rise) but a lot of this was due to a considerable downward revision (from
+0.5% to just +0.2%). Year-over-year, headline retail sales rose modestly to
+2.7% but continues to hover at the recessionary ledge. Vehicle sales rose very
modestly (+0.1%) after a 0.5% MoM decline in May but a slide in clothing sales was offset by a surge in building materials sales.
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While recent regional
Fed manufacturing indices had shown a pickup in recent weeks, moments ago the
Empire Fed, aka the New York State manfucaturing index, disappointed, declining
five points from 6 to 0.55, below the 5.0 expected print. The volatile series
has now printed below zero, at zero, above zero, below zero, above zero and
at zero over the past 6 months.
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Bottom line: If these key housing markets hit a wall they will take the rest of
the nation with them; bubbles and busts
don’t happen in “isolation”.
Not shown in these charts of absolute index levels is the three-straight months of national yy
price gain deceleration. Moreover, the CS captures prices up to 7-months old at
the tail so conditions are already a lot different than shown here.
• The end result of Bubble 2.0 will be the same as 1.0; a demand “mix-shift” and price “reset”
back towards end-user fundamentals once the speculators finish up, or events
force them to the “sidelines”.
• Lower prices will create demand, which the housing sector will always
achieve one way or another…it’s what it does. Just like the anemic demand led
the price crash of Bubble 1.0, which ultimately led to increased demand as
prices stabilized lower.
• The Bubble 2.0 pop will also free up supply in the same
manner as Bubble 1.0, just not as
much from foreclosures. However, I do think people underestimate the volume of low-down mortgages originated over
the past several years.
• Sure the bubble
could blow bigger. Maybe we get a double-bubble. Bubbles are strange things.
But, when they begin to fall there is a lot of air under there because the
downside has clearly been established.
In fact, I believe this is the year house prices go red yy.
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With half of 2016 in
the history books, corporate bond defaults just hit the milestone
"century" mark, or 100, last week, rising by 50% from the number of
bankruptcies at this time last year and the highest level since the US emerged
from recession in 2009. What is most
troubling is that at the current run-rate, with half of 2016 still to come, the
global debt default total is on pace to surpass 2009 for the all time corporate
bankruptcy record.
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The tremendous rally
of the past 4 days that has sent global stocks soaring in recent days has
finally been capped and European shares, S&P futures are all modestly lower
following a deadly terror attack in Nice, France. Meanwhile Asian stocks rose
as Chinese economic data beat estimates, with Q2 GDP rising by 0.1% more than
the estimated 6.6% on the back of stronger housing data.
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Big image at : http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2016/07/03/3%20trades_0.jpg
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The US oil rig count
rose 6 to 357 this week - this is 6th rise of the last 7 weeks (up 41 rigs) -
the biggest absolute rise since May 2014. Off the lows, the US oil rig count is now up over 10% - the most since Dec 2011.
Of course, oil prices are rallying on this news...
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POLITICS
"[Snowden] has done an incredible service to
our country at great cost to himself for having to live away from his
family, his friends, his job, his network... I would say not only bring Snowden back, but bring him
into my administration as a member of the Cabinet,"
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“Really, it’s
either one of two things: Either you’re
trying to avoid the appearance of impropriety, in which case you should
have recused yourself, or you’re trying
to protect Hillary Clinton”
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ME & WORLD ISSUES
Ask Muslims about the roots of terrorism and they’re
quick to point the fingers at the USA or Israel. They’re not thinking. They’re not thinking inwardly. The plague of terrorism is homemade, not
foreign. The western countries however prop up the Muslim perpetrators
with bribes and political protection so that they can extract economic benefits
from the mayhem. Why not exploit the homegrown situation?
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"A perfect storm of slow or zero
Italian economic growth, low interest rates and politically connected, often corrupt, lending have combined to
create a situation where the Italian
financial system is in need of a large rescue."
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The long-classified
pages detailing alleged Saudi Arabia government ties to the 9/11 hijackers will
be released by Congress as early as Friday, sources told CNN Thursday. Known as
the "28 pages," the document was part of a 2002 Congressional
investigation of the Sept. 11 attacks and has been classified since the
report's completion.
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GLOBAL RESEARCH
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The
Most Important US Air Force Base You’ve Never Heard Of. The Ramstein Air Base
in Germany By Norman Solomon,
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THE REAL NEWS NETWORK http://therealnews.com/t2/
Ronald Blount of the
Philadelphia Taxi Alliance calls on the Democratic Party to join the fight for
living wages, affordable housing, and good education
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Professor of Media
Studies Joao Feres Jr. says a recent report exonerates Rousseff but the
constitutional procedure will likely be used to remove her from office anyway.
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INFORMATION CLEARING HOUSE
Attack In Nice Committed By French National.
By Justin Salhani J
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Nice – 14th July Massacre – Another False
Flag in France. By Peter Koenig
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Why The Infernal Terror Spiral Will Go On And
On . By Pepe Escobar
Nothing was done against the ideological matrix of jihadism:
Wahhabism. So nothing will change
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Adolf Hitler is alive and well in the United States, and s/he
is fast rising to power.
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Oligarchs, Bankers and Swindlers. Washington’s
‘New Managers’ in Latin America:
By Prof. James Petras
By Prof. James Petras
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Obama Has Failed Victims of Racism and Police
Brutality. By Cornel West
The American empire is in deep spiritual decline and cultural
decay.
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COUNTER PUNCH
Michael Hudson A
Travesty of Financial History: Bank Lobbyists will Applaud
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Steve Martinot The
“Fundamentalism” in Police Operations
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Elaine Cassel What’s
Driving Got to Do With It? How the DMV is Conscripted to Do the Dirty Work of
the Criminal Justice System
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Margaret Kimberley Why We Need Black Anger
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Stan Malinowitz. The Dilemmas of Lesser-Evilism in Two
Countries
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Norman Pollack Authoritarian
Politics: Trump, Clinton, and Neo-Fascism
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Chris Steele. Black Lives Matter Take the Streets in
Denver
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Gary Corseri. Bernie Sanders Plays the Bard
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NOTICIAS IN SPANISH
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PRESS TV
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