JUL 24 16 SIT EC
y POL
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ZERO HEDGE
ECONOMICS
"So this is really the
class war. And it's the class war of Wall Street and the corporate
sector of the Democratic side against Trump on the populist side...Krugman has
joined the ranks of the neocons, as well as the neoliberals, and they're
terrified that they're losing control of the Republican Party. For the last
half-century the Republican Party has been pro-Cold War, corporatist. And Trump
has actually, is reversing that. Reversing the whole traditional platform.
And that really worries the neocons..."
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The earliest signs are developing
of hyperinflation, more correctly described as a collapse of the
purchasing power of all the major government currencies. Extreme one-way bets
aside, the overriding reason for valuation disparities is
becoming more consistent with the downgrading of cash, rather than a
revaluation of assets
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In the pre-1971 economy, it was Main Street that produced
wealth and accumulated real dollars. After 1971, it
was Wall Street that controlled access to the new counterfeit money – and made
sure it captured much of it. The new system gave the feds the
“flexibility” they were looking for. But it
completely changed the nature of our money and our economy.
….
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First The
Koch Brothers switch sides and now Michael Bloomberg backs Clinton
as it appears America's
oligarchy is showing its true colors as 'Billionaires for Billary'
emerge from the RNC woodwork...
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Crude oil inventories in the U.S. have fallen 23.9 million
barrels since the end of April, but, as Bloomberg notes, oil bulls counting on further declines are fighting history.
Over the past five years refiners' crude demand has fallen an average of
1.2 million barrels a day from the peak in July to the low in October... "The rough part will be once refineries start going into
maintenance,... we aren’t drawing down inventories very fast and the pressure
on prices will increase."
….
Crude oil inventories in the U.S. have fallen 23.9 million
barrels since the end of April, but, as Bloomberg notes, oil bulls counting on
further declines are fighting history. Over the past
five years refiners' crude demand has fallen an average of 1.2 million barrels
a day from the peak in July to the low in October.
SEE IMAGE “CRUDE DEMAND” AT: http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/07/19/20160724_oildemand_0.jpg
"The rough part will be once refineries start
going into maintenance," said Rob Haworth, a senior investment strategist
in Seattle at U.S. Bank Wealth Management. "We
aren’t drawing down inventories very fast and the pressure on prices will
increase."
But, as Alhambra
Investment Partner's jeffrey Snider notes, the significance of crude and gasoline inventory (and price) changes is
the difference in narratives and what is supporting them.
While there is a direct relationship between the steepness
of contango in the oil futures curve and the amount of crude siphoned from the
market to storage, it is not an immediate one.
Given the “dollar’s” explicit
seasonality, combined with the usual intra-year
swings of crude itself, it isn’t surprising to find the process repeated almost
exactly a year later. This time it
happened in two separate events, the latter of which was a near replica of the
start to 2015. The futures curve was pressed into deep contango after October
2015, and sure enough oil inventories spiked again in early January 2016. And
like last year, though the futures curve would begin to flatten out again starting
February 12, oil storage levels continued to build until the end of April.
See Alhambra graphic “Crude Oil Stocks, US excl. SPR” at:
http://www.alhambrapartners.com/wp-content/uploads/2016/07/ABOOK-July-2016-WTI-Oil-Inventory.jpg
Check more graphics at: http://www.zerohedge.com/news/2016-07-24/peak-oil-demand-duelling-narratives-energy-inventories
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We have frequently talked about the negative future
consequences of hot international money chasing “safe” foreign real estate
investments. As such, our interests were piqued to discover that the average price paid by Chinese investors in US residential
real estate for 2016 continued its meteoric rise to $937k from $832k in 2015, a
mere 20% CAGR since 2011 vs. only 4% for the U.S. market overall.
They must see something the rest of us are missing.
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ME & WORLD ISSUES
While the G-20 group traditionally tries to put on a united
front, a curious divergence emerged following the latest meeting in China, where
as Bloomberg notes Chinese and U.S. officials
"showed signs of being at odds on how synchronized efforts to boost
global growth need to be, with China stressing the need for improved
coordination more than the U.S."U.S. Treasury Secretary Jacob
J. Lew on Thursday talked down the need for
crisis-level coordination as he headed to Chengdu, China, for the meeting.
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People are assuming there’s only one way to fight a war
today of global proportions. We're not in that camp. We believe it will come
monetarily – not military. At least at first. For once it takes place
all bets are off as to what happens next. The obvious first mover
advantage for China (and all its current allies) would be to use the rhetoric
coming out of the current U.S. political arena, along with current, as well as
proposed monetary policies via the Fed, ECB, and Japan.
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POLITICS
"It doesn’t feel right
that what we’re doing here would be heard 200 miles away when there’s a
mountain range in between us..."
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"Mr. Trump is providing
something new and something fresh," explains Malik Obama -
President Obama's half brother - while wearing his resplendent red 'Make
America Great Again' cap. Describing his “deep
disappointment” in his brother Barack’s administration, The
NY Post reports, has led him to recently switch allegiance to "the
party of Lincoln."
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[ DEAL AMONG CROOKS: I
can continue using you .. if you don’t mind.]
The Democratic party was in
turmoil on Sunday afternoon,
when just hours ahead of the Democratic National Convention which begins on
Monday on Philadelphia, the chair of the Party - DNC Chairwoman Debbie
Wasserman Schultz - resigned amid a furor over the humiliating Wikileaks email
release, hoping to head off a growing rebellion by Bernie Sanders. And in a stunning
move, moments later Hillary
announced that Wasserman Schultz would serve as an honorary chair on Clinton's
campaign.
ME & WORLD ISSUES
"Americans need to wake
up to the dangerous situation that Washington has created, but I doubt
they will. Most wars happen without the
public’s knowledge until they happen..."
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People are assuming
there’s only one way to fight a war today of global proportions. We're not in
that camp. We believe it will come monetarily – not military. At least at first. For once it takes place all bets are off as to
what happens next.
The obvious first mover advantage for China (and all its current allies)
would be to use the rhetoric coming out of the current U.S. political arena,
along with current, as well as proposed monetary policies via the Fed, ECB, and
Japan.
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A massive fire
erupted near a NATO base in the Buca district, near Izmir, Turkey. The fire
broke out on Sunday evening in western Turkey. The fire blew through the grassy
wooded area and is now perilously near NATO’s military base pushed forward by
strong winds. In odd twist, local authorities are investigating the fire
as a possible act of anti-American sabotage. The fire erupted shortly after
Erdogan's leading Islamist paper headline officially targeted a US commander as
coup leader adding his name & picture
[ Almost.. next time will be better?. .. It is a
warning ..NATO should get out! ]
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DOWN with TYRANNY
Good news: Debbie's fired. Bad
news: guess who they want to replace her with
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GLOBAL RESEARCH
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US
Media Find European Terror Deaths 19 Times “More Interesting” Than Middle East
Terror Deaths Adam Johnson,
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“Doping
Processes” and the Rio Olympics: Credibility of International Sport Is on the
Line, Not Russia By Timothy
Bancroft-Hinchey,
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THE REAL NEWS NETWORK http://therealnews.com/t2/
TRNN replay of our
coverage of today's protests at the DNC in Philadelphia, PA
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TRNN speaks to
Clinton and Sanders supporters about the failed attempt to eliminate
superdelegates from the Democratic Party
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Paul Jay speaks with
a group for Maryland Sanders delegates about calls for action and civil
disobedience inside and outside the convention
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RT SHOWS
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WASHINGTON BLOG
Posted on July 24, 2016 by Carl Herman
VIDEO URL: https://youtu.be/tCOv7C9g7xo
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By Michael Hudson, Michael-Hudson.com.
Well, let’s unravel
that statement with Michael Hudson. He’s joining us from New York. Michael is a
distinguished research professor of economics at the University of Missouri
Kansas City. His latest book is Killing the Host: How Financial Parasites and
Debt Bondage Destroyed the Global Economy. Thank you so much for joining us,
Michael.
MICHAEL HUDSON: It’s good to be here, Sharmini. It’s
been an exciting week.
PERIES: So let’s take a look at this article by Paul
Krugman. Where is he going with this analysis about the Siberian candidate?
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NOTICIAS IN SPANISH
Tiene la palabra... la literatura Félix Julio Alfonso Y OTROS
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El Día de la Bastilla: el presente ultraconfuso
de Francia I.
Wallerstein
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COL Memoria y dignidad
campesina. John Elvis Vera
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Fracasó el golpe de la OTAN contra
Erdogan Rómulo Pardo
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PRESS TV
Sanders
reiterates support for Clinton he is a traitor
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Fire
erupts near NATO base in Turkey is a warning..
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