JUL 23 16 SIT EC
y POL
ZERO HEDGE
ECONOMICS
About one month ago we read that risk
parity and volatility targeting funds had record exposure to US equities. It
seems unlikely that this has changed – what is likely though is that the
exposure of CTAs has in the meantime increased as well, as the recent breakout
to new highs should be delivering the required technical signals. All these
strategies are more or less automated (essentially they are simply
quantitative and/or technical strategies relying on inter-market correlations,
volatility measures, and/or momentum). We
believe this is an inherently very dangerous situation.
----
----
According to the
latest weekly update from Factset, as of this moment consensus estimates now
expect the third quarter to be the sixth
consecutive quarter of declining earnings, with Q3 EPS forecasts just turning negative for the first time, down
from +0.4% to -0.1%.
----
----
"The
current P/E expansion cycle is now one of the largest in history. Since
September 2011, S&P 500 forward P/E has grown by 75% (from 10x to 18x). This expansion has only been
surpassed twice since 1976, when the multiple rose by 111% from 1984-1987
(ending with the 22% Black Monday collapse) and by 115% from 1994-1999 (ending
with the Tech Bubble pop)."
- Goldman Sachs
----
----
The underlying
problem is, I think, a very strange one. But it’s a risk faced by any society
that both undergoes rapid technological change, and contains organized interest
groups. (Formal or informal.) Something
really bad is happening to all our bullshit. In fact, I’ve begun to
worry that there’s actually a sort of crash or cascading failure going on in
the bullshit market. If there is, I think it’s driven, as previous bullshit
crashes were, by changing technology.
I’m afraid the bad
new is that we the people are more or less on our own, in this particular
struggle. The New York Times and the Wall Street Journal can’t
really help us, or advise us, now, because it’s precisely whether to go on
trusting them that we have to decide. There are things they could do to
retain or regain our trust, but we shouldn’t hold our breath, because they
apparently have yet to perceive any need for reform.
----
----
A good,
old-fashioned, pre-1929 depression (like the short-lived, eleven-month
depression in 1920-1921, before the days of “modern” central banking and
“enlightened” Keynesian intervention “cures”) is the only tonic that can clear out the malinvestment built up since the
beginning of the fiat money era.
----
----
"Nobody knows
for sure what's going to happen... But there's plenty of reason to think that’s a scary graph."
----
----
POLITICS
Obsession with mass shooting? ..
then is more ISIS than expected
What was initially
said to be a coordinated attack killing 9 and injuring 16, involving up to
three gunmen, has since been attributed to a lone, 18-year-old German-born male
student with both German and Iranian citizenship, identified moments ago as David
Ali Sonboly. As authorities try to piece together the motive behind the
latest mass killing the emerging picture is that of a mentally disturbed young
man with an obssession for killing sprees, and who had undergone psychiatric
treatment.
----
----
Lurched back and forth in the ever-quickening
spiral of an American empire circling the drain, we - as a people - have
chosen battle lines on nearly every issue from politics to foreign policy,
domestic surveillance to policing. Thrust back into national focus, the last
issue - policing in the U.S. - might even surpass in
contention the ongoing race to the White House.
----
----
- There has been a plot designed to smear Bernie Sanders and to hand the Democratic nomination to Hillary on a silver platter
- There has been repeated collusion between the DNC and the media
- There has been questionable fundraising for both Hillary Clinton and the DNC
----
----
On July 20th, a Republican U.S. Senator lost his main
financial backers for having urged Republicans to vote for Donald Trump instead
of for Hillary Clinton. The Koch
brothers speak with their words, which can’t be trusted, but
they also speak with their money, their
investments, which are always honest expressions of their actual beliefs and
desires. This time, the Kochs spoke with their money, just a day
after that Senator spoke with his words.
----
----
The political and
economic issues broadly discussed in the media usually revolve around
political cycles, terrorism, foreign policy, rising debt levels, sluggish
economic performance, academic underachievement, environmental problems, ageing
demographics and so forth. In our view, this all ties into a major
cycle of history that has been with us for some time, and which has been
gaining traction since the 1990s: the end of "Western Civilization"
and the transition towards a globalized society.
----
----
...Massive debts, no
good jobs, faltering productivity, soaring entitlements, declining net
investment and drastically shrinking household incomes add up to an unprecedented assault on America’s
vaunted middle class. In
fact, the middle class is shrinking markedly as an empirical matter and fading
rapidly as an aspirational possibility. It is profoundly misguided Wall
Street/Washington policy regime that has given rise to this massive economic
failure. For
more than three decades they have sown the wind. Trump is the whirlwind they
are now reaping...
----
----
ME & WORLD ISSUES
TURKEY: Health and Education should NOT be for profit
business
In his first
"emergency powers" decree, published by the Anadolu state news
agency, Erdogan authorised the closure
of 1,043 private schools, 1,229 charities and foundations, 19 trade unions, 15
universities and 35 hospitals over suspected links to the Gulen
movement. The government also announced it would seize the properties of
all these schools, universities and private institutions.
----
----
France decided to use all weapons force against poor nations
Seemingly not satisfied with the domestic blowback from
their interventionist-driven Washingtonian foreign policy, Francois Hollande - lagging badly in the
polls - has decided to double-down following the recent terror attack in Nice.
As Sputnik
News reports, France will
send artillery to Iraq and its Charles de Gaulle aircraft carrier to assist the
US-led coalition’s efforts in Syria and Iraq in the coming months.
----
----
More on France? .. OR.. all European countries member of NATO
?
Life is full of
examples where folks make bad choices for noble reasons. Not every decision is
a winner: sometimes you make the right call, sometimes you don't. That's
completely understandable and defensible. Fate is fickle, and no one is 100%
right 100% of the time. But what's
much harder to condone is when people embrace the wrong decision even when they
have ample evidence and comprehension that doing so runs counter to their
welfare.
----
----
Gold & cash
money "If
You Can't Touch It, You Don't Own It"
The pending
Brexit has, not surprisingly, caused a shakeup in the investment world,
particularly in the UK. Of particular note is that,
recently, asset management firms
in Britain began refusing their clients the right to cash out of their mutual
funds. Of the £35
billion invested in such funds, just under £20 billion has been affected. The lesson to
take away here is that, if you can’t touch it, you don’t own it.
Banks and fund management firms can freeze your wealth, so that you can’t
access it. Governments and banks can confiscate your wealth. If you don’t have
the power to put your hands on your wealth on demand, you don’t own it.
----
----
The “War on Drugs”
and the “War on Terror” are more intertwined than the media and our elected officials
would like us to think.
----
----
GLOBAL RESEARCH
----
----
----
----
----
----
----
INFORMATION CLEARING HOUSE
Polarization and the Powder Keg. By
James Petras
Corruption, deception and betrayal in high places are so
rampant that mutual impunity has become the badge of collegiality
----
Armageddon Approaches .By Paul
Craig Roberts
Americans need to wake up to the dangerous situation that
Washington has created
----
It’s been 71 years since atomic bombs destroyed Hiroshima
and Nagasaki, and humanity’s memory of those events has dimmed
----
Kinetics Of
Empire. By Paul Edwards
Imperial murder abroad necessitates commensurate racist
homicide at home
----
Clinton is making clear that she plans on running a
right-wing, pro-war campaign targeted at winning over the military and sections
of the Republican Party.
----
American
Democracy Is a Shitshow By Arun
Gupta
This may be the most absurd election ever, but the real reckoning
is yet to come.
----
Genocide in
Iraq By Ifekhar A. Khan
Is it a coincidence that only Muslim countries have
witnessed a bloodbath in the last decade and half?
----
----
----
RT SHOWS
----
----
----
----
----
WASHINGTON BLOG
Emigre
Super Bloc Part 5 The Failed Turkish Coup – An Exploded View Posted
on July 23, 2016 by WashingtonsBlog By George Eliason
Is Fethullah Gulen the feeble, kindly imam that mainstream
media is making him out to be? Hardly. What this article will show is that
Gulen is instead a career ultra-nationalist bent on carving up the Middle East
and Asia. Gulen is on a mission to destroy Russia and China by cutting out
territory that contains Turkic peoples from both nations.
Important to understand is Gulen is at work creating a
Turkic Islamic World Order inside the countries his schools, people, and
businesses reside in.
How did Fethullah Gulen become so powerful in
Turkey? In brief I’ll describe his rise for what it is; Erdogan’s
self-inflicted wound, that without his own best effort and direct early support
could never have happened. It will also show why Erdogan’s purges are going so
deep and broad inside all of Turkey’s power structures. What do his people consider
Gulen? He is a prophet. –Fethullah
Gülen’s Grand Ambition Turkey’s Islamist Danger by Rachel Sharon-Krespin Middle
East Quarterly Winter 2009, pp. 55-66
This is a step down from being God. With a whisper, a
prophet releases the Word of God to creative or destructive purpose. To his
people, this is Fethullah Gulen.
----
----
Failed
Turkish Coup: Sabotage, Incompetence or Deception? Posted on July 23, 2016 by WashingtonsBlog
By Federico Pieraccini. Originally published at Stategic
Culture.
Let’s start from here. Assuming the existence of a manual of
the ‘Perfect
Coup’, it is very likely it would thoroughly explain the importance
of the first goals to pull off for the success of a government overthrow:
- The arrest of the head of State.
- The nomination of a representative for the coup, presented through a press conference on national media to reassure the population.
- Controlling all the information/communication sources.
- The support of at least a substantial part of the police.
- Control of ministries.
- Taking under civil and military airports.
- Controlling the parliament.
- Full control of the skies.
- Installing a Curfew.
Failure to arrest Erdogan is a very important indication of
the real intentions to overthrow the government. The president was on vacation
in a resort on the Mediterranean, as soon as he learned about the coup, he
immediately took off in his private jet and urgently released the famous
message via FaceTime, echoed by CNN Turk where he called on people to take to
the streets in order to defend democracy. While he continued to fly
unobstructed in the Turkish skies, many mosques in Ankara and Istanbul began to
convey similar messages calling on the population to take to the streets. A few
minutes later around 1:00 AM, most of the Turkish people were receiving an SMS
message that again urged the population to take to the streets and protest the
‘revolution’. Just when the situation seemed to be solved, around 3AM Erdogan
landed in Istanbul.
----
----
NOTICIAS IN SPANISH
Un tribunal internacional concluye que el impeachment
contra Dilma es un golpe de Estado. Maurício Thuswohl
----
----
Pronósticos reservados para la evolución
económica. Julio C.
Gambina
----
El paraíso prometido de la eficacia Ava Gómez y Alejandro Fierro
----
----
----
----
Ministerio de Defensa ruso: "La coalición pone en riesgo a sus militares por no compartir datos"
Ministerio de Defensa ruso: "La coalición pone en riesgo a sus militares por no compartir datos"
----
----
----
----
----
----
PRESS TV
----
----
----
----
----
----
----
----
US condemns ‘terrorist attack’ in Munich ?
----
----
----
----
----
----
----
===
No hay comentarios:
Publicar un comentario