JUL 29 16 SIT EC
y POL P-1 ECONOMICS
….
The disgust & nausea felt by this lady on the recent DNC
show
is the felling of millions of American citizens. Da asco lo
ocurrido
….
[Few words
have been adjusted to its content.]
….
“The visions of all the dead children in Syria that
Hillary Clinton helped to kill; the children bombed to bits in
Afghanistan and Pakistan from Obama’s drones, the grisly chaos of Libya, the utter wasteland of Iraq, the death
and destruction everywhere caused by American military intervention. The
Ukraine, Honduras, El Salvador, Guatemala, Chile, you name it — their countries
has bombed or destroyed its civilian life in some basic way.
“When I heard all the Americans cheering for the military and
the pronouncements of might coming from the speakers in the Wells Fargo Centre,
I loathed you. I loathed every single one of you. I knew in my gut that
what I was taught as a child was true, which is that YOU are the enemy. YOU are
the country to be feared. YOU are the country to be disgusted by. YOU are
ignorant. And your greed and self-satisfaction and unearned pride knows no
bounds.
“I am not an American tonight. I reject my Puritan ancestors who landed in this country in 1648. I reject the words I voiced at my citizenship ceremony. I reject every moment of thrilling discovery I ever had in this country.
“And there you all are tonight, glued to your TVs and
your computers, your hearts swelled with pride because you belong to the
strongest country on Earth, cheering on your Murderer
potential President. Ignorant of the entire world’s repulsion.
She kill and you kill and she kill, and you still remain
proud.
We are fools.
----
By Margot Kidder , an actress and
activist in Montana.
---
----
ZERO HEDGE
ECONOMICS
ECONOMICS from: http://www.washingtonsblog.com/
More on the “GREAT ”
Economy we got from Barack Obama :
Barack
Obama THE ONLY PRESIDENT IN HISTORY TO NEVER HAVE A YEAR OF 3% GDP GROWTH Posted
on July 29, 2016 by WashingtonsBlog
We just got another extremely disappointing GDP
number. It was being projected that U.S. GDP would grow by 2.5
percent during the second quarter of 2016, but instead it only grew by
just 1.2 percent. In addition, the Census Bureau announced that GDP
growth for the first quarter of 2016 had been revised down from 1.1 percent to
0.8 percent. What this means is that the U.S. economy is just barely
hanging on by its fingernails from falling into a recession. As Zero
Hedge has pointed out, the “average annual growth rate during the
current business cycle remains the weakest of any expansion since at least
1949″. This is not what a recovery looks like.
In addition, Barack Obama remains solidly on track to be the
only president in all of U.S. history to never have a single year when the
economy grew by at least 3 percent. Every other president in American
history, even the really bad ones, had at least one year when U.S. GDP grew by
at least 3 percent. But this has not happened under Obama even though he
has had two terms in the White House.
The following are the yearly GDP growth numbers under
Obama. They come directly from the official website of the World Bank…
2009: -2.8 percent
2010: 2.5 percent
2011: 1.6 percent
2012: 2.2 percent
2013: 1.5 percent
2014: 2.4 percent
2015: 2.4 percent
Does that look like a “recovery” to you?
Of course not.
And many are anticipating that this latest extremely
disappointing GDP number will discourage the Federal Reserve from raising
interest rates any time in the near future…
In recent days we have gotten a spate of bad news about the
economy. We just learned that the homeownership rate in the United States
has hit the lowest level ever, and
Gallup’s U.S. economic confidence index has fallen to the lowest level so far this year.
[ During elections Hillary
Clinton needed to sell to
American people the idea that the Obama years have been very good for the U.S.
economy. Her pending case with FBI
& Supreme Court depends on OB .. but these “things may take a sharp turn
down in the coming months, that may be enough to cost her the election”, said Michael Snyder.]
So far, Hillary Clinton’s economic agenda has not received
that much scrutiny, but the truth is that she hopes to increase taxes in a
whole bunch of ways which would be very harmful for the economy. The
following comes from an excellent piece by John Kartch and Alexander Hendrie…
Hillary has endorsed several tax increases on middle income
Americans, despite her pledge not to raise taxes on any American
making less than $250,000. She has said she would be fine with a payroll
tax hike on all Americans, she has endorsed a steep soda
tax, endorsed a 25% national gun tax, and most recently, her campaign manager John Podesta said she would be open to a carbon tax.
It’s no wonder that when asked by ABC’s George Stephanopoulos if her pledge was
a “rock-solid” promise, she slipped and said the pledge was merely a “goal.” In other words, she’s going to raise taxes
on middle income Americans.
Hillary’s formally proposed $1 trillion net tax increase
consists of the following:
Income Tax Increase – $350
Billion: Clinton has proposed a $350 billion income
tax hike in the form of a 28 percent cap on itemized deductions.
Business Tax Increase — $275
Billion: Clinton has called for a tax hike of at least $275 billion through
undefined business tax reform, as described in a Clinton campaign document.
“Fairness” Tax Increase — $400
Billion: According to her published plan,
Clinton has called for a tax increase of “between $400 and $500 billion” by
“restoring basic fairness to our tax code.” These proposals include a “fair
share surcharge,” the taxing of carried interest capital gains as ordinary
income, and a hike in the Death Tax.
Taxes tend to be a pet peeve of mine, so looking at that list
of proposed taxes definitely makes me cringe.
----
===
Despite the protestations that everything will be awesome
from Hillbama, the American people strongly disagree. The gap between tumbling
'expectations' (77.8) and 'current conditions' (109.0) is at its worst (least
hopeful) since August 2006... shortly before overall confidence crashed in
America.
----
----
With Wall Street expecting the US economy to grow 2.6% in
the second quarter, there were many shocked faces moments ago when the Census
Bureau reported that not only did the US economy grow a paltry 1.2% in the
quarter, but Q1 GDP was slashed from an already poor 1.1% to just 0.8%.
----
----
While the 1.2% Q2 GDP print was so bad that it sent both
oil and stocks higher, now that bad news is again good news as it means
no Fed rate hikes for the foreseeable future, a key reason for the weakness was
the adjustment of historical data as part of the BEA's annual data revision.
The full summary is shown in the chart below.
----
----
After the illiquid chaos of the last 24 hours, USDJPY is
now pressing lower (Yen stronger) once again (under 103) after the gravely
disappointing GDP data. Gold, and silver, are jumping higher and bond yields
tumbling...
----
----
But, but, but the dividend yield, the oil recovery?
ExxonMobil is down almost 3% in the pre-market to 2-month lows as it misses
earnings expectations drastically (+41c vs 64c exp.. below the lowest
expectation of +55c). Production levels also missed expectations as it appears
the oil glut has trickled down to motor fuels, dragging refinery margins
notably lower.
----
----
"I think it’s possible that the Fed will push
rates below zero when the next recession arrives. In that regard, something
important happened recently. And not many people noticed..."
----
----
Imagine the financial crisis knocked you out and you did
not wake up from the coma that followed until this day. Then, presented with
the following three charts you were asked to guess where the federal funds rate
was trading...
----
----
"We are going to follow the money..."
----
----
Adding insult to injury, America's aging baby
boomers, unable to retire from their menial jobs as a result of the Fed's
destructive monetary policy which has guaranteed no income on savings, are now
also being blamed by researchers for America's collapsing productivity.
----
----
This is the 8th rig count rise in the last 9 weeks. The
58 rig rise (+18% off the lows) is the fastest since Jan 2010. Oil prices had
melted up all day (despite record OPEC production) as the USD weakened, and
extended gains despite the rig count rise.
----
----
Somewhere Nero is fiddling...
----
----
Nothing else matters... "bad news is great
news"
----
----
Despite the return of the record OPEC oil production,
crude is now surging for one simple reason: oil is inversely correlated with
the dollar. And thanks to today GDP shock, which showed that the US economy
grew far slower than expected, the dollar has crashed. Confused? Don't be:
"Dollar weakness follows disappointing U.S. GDP data, consumer
confidence." As a result, ugly economic data has sent the dollar tumbling,
oil soaring, and the S&P near all timehighs. Q.E.D.
----
----
For years we have complained against both the BLS' and
the BEA's comical seasonal adjustments, which "serve" just one
purpose: to goalseek the data to a desired, politically-mandated outcome, and
which culminated last May when the Department of Commerce announced
it would seasonally adjust last year's woeful Q1 GDP data not once
but twice in order to get a better result. Now, it appears that there
indeed was a problem.
----
----
With Wall Street expecting the US economy to grow 2.6% in
the second quarter, there were many shocked faces moments ago when the Census Bureau
reported that not only did the US economy grow a paltry 1.2% in the quarter,
but Q1 GDP was slashed from an already poor 1.1% to just 0.8%.
----
----
While the 1.2% Q2 GDP print was so bad that it sent both
oil and stocks higher, now that bad news is again good news as it means
no Fed rate hikes for the foreseeable future, a key reason for the weakness was
the adjustment of historical data as part of the BEA's annual data revision.
The full summary is shown in the chart below.
----
----
After the illiquid chaos of the last 24 hours, USDJPY is
now pressing lower (Yen stronger) once again (under 103) after the gravely
disappointing GDP data. Gold, and silver, are jumping higher and bond yields
tumbling...
----
----
But, but, but the
dividend yield, the oil recovery? ExxonMobil is down almost 3% in the
pre-market to 2-month lows as it misses earnings expectations drastically (+41c
vs 64c exp.. below the lowest expectation of +55c). Production levels also
missed expectations as it appears the oil glut has trickled down to motor
fuels, dragging refinery margins notably lower.
----
----
"I think it’s possible that the Fed will push rates
below zero when the next recession arrives. In that regard, something
important happened recently. And not many people noticed..."
----
----
Imagine the financial crisis knocked you out and you did
not wake up from the coma that followed until this day. Then, presented
with the following three charts you were asked to guess where the federal
funds rate was trading...
----
----
"We are going
to follow the money..."
----
----
Adding insult to
injury, America's aging baby
boomers, unable to retire from their menial jobs as a result of the Fed's
destructive monetary policy which has guaranteed no income on savings, are now
also being blamed by researchers for America's collapsing productivity.
----
----
This is the 8th rig count rise in the last 9 weeks.
The 58 rig rise (+18% off the lows) is the fastest since Jan 2010. Oil
prices had melted up all day (despite record OPEC production) as the USD
weakened, and extended gains despite the rig count rise.
----
----
Somewhere Nero is fiddling...
----
----
Nothing else matters... "bad news is great
news"
----
----
Despite the return of the record OPEC oil production, crude
is now surging for one simple reason: oil is inversely correlated with the
dollar. And thanks to today GDP shock, which showed that the US economy grew
far slower than expected, the dollar has crashed. Confused? Don't be: "Dollar
weakness follows disappointing U.S. GDP data, consumer confidence." As
a result, ugly economic data has sent the dollar tumbling, oil soaring, and the
S&P near all timehighs. Q.E.D.
----
----
For years we have complained against both the BLS' and the
BEA's comical seasonal adjustments, which "serve" just one purpose:
to goalseek the data to a desired, politically-mandated outcome, and which
culminated last May when the Department of Commerce announced
it would seasonally adjust last year's woeful Q1 GDP data not once but
twice in order to get a better result. Now, it appears that there
indeed was a problem.
----
----
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