AUG 13 16 SIT EC
y POL
ZERO HEDGE
ECONOMICS
It's official - the
"most-hated rally" is now the "most-loved stock market ever" as speculative
positioning has never - ever - been more bullish...
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It is
the same players that we saw enabling reckless behavior in 1998: Citigroup, the
Fed, and the Clinton-led Wall Street Democrats. And, as
Jesse notes, here we are again, almost eighteen years later, watching
the same short term, selfish characteristics by the big
money banks putting the entire economy of productive individuals at risk
again...
"There’s something big and scary going on behind
the scenes but, as usual, the public isn’t reading about it on the front pages
of the newspapers." Pam
Martens and Russ Martens warn that big banks and big insurers send
scary signals...
Yesterday, the broad stock market,
as measured by the Standard and Poor’s 500 Index, declined a modest 0.29
percent while big Wall Street banks like Citigroup and JPMorgan Chase fell by
triple that amount. Bank of America, which bought the big retail brokerage
firm, Merrill Lynch, in the midst of the 2008 crash, fell by 8.6 times the rate
of the decline in the S&P to give up 2.50 percent.
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The collapse of oil prices has apparently left North American life
insurers in a bit of a pickle with their distressed debt holdings having doubled in a matter of 6 months...
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Updated data from the
Federal Reserve Banks of Kansas City, St. Louis and Chicago all indicate further
deterioration of Midwest farmland values...
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Soaring minimum wage rates across
the country are making capital investments in robots way more attractive to
labor-intensive industries like farming. A simple example
shows how California's "Fair Wage Act" could cut payback periods on
capital investment projects by 40% turning marginally attractive capital
investments into no-brainers.
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Dealers, the bedrock of the
global monetary system, are hoarding collateral and it shows. That, however, doesn’t fit within the recovery narrative, so the media resorts to the easy and absurd to obscure what
“should” not be happening...
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In their most recent
report, the so-called “trustees” of the social security
system said that the
trust fund’s near-term outlook had improved. So the stenographers of the financial press dutifully reported that the day of
reckoning when the trust funds run dry has been
put off another year - until 2034. The message was
essentially take a breath and kick the can.
That’s five Presidential elections away! Except that is not what the report really says...
[[ In Spanish: estamos jodidos .. pero contentos. .. No queda otra que ponerle buena cara al mal
tiempo. .. aunque .. la alegría pronto se puede acabar.
Que hacer? Cancelar el Pokemon y los Smart
phones para que no nos espíen los enemigos de fuera.. RU y Chinos?.. Eso no restaura la alegria? ]]
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POLITICS
"All of this
is about control and dominion, the erosion of personal freedoms, and the move toward totalitarian
suppression of all liberties and complete
monitoring over any and all activities of the average citizen."
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Complaining that they can't keep
up with all the changes to the law, police departments in Colorado
are demanding that the legislature impose a
moratorium on any new cannabis-related legislation.
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ME & WORLD ISSUES
Distortions in financial markets
keep growing, as central banks all over the world are desperately
intensifying monetary pumping. What is currently happening in various bond
markets as a result of this and other interventions is simply
jaw-dropping insanity. It is not so much that it defies rational
explanation – in fact, all of these moves can be explained. What makes
the situation so troubling is the fact that investors seem to be oblivious to the enormous risks
they are taking. They are sitting on a powder
keg.
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The new Cold War is far more
dangerous than the old, because the respective war doctrines of the nuclear
powers have changed. The
function of nuclear weapons is no longer retaliatory. Mutually Assured
Destruction was a guarantee that the weapons would not be used. In the new war
doctrine nuclear weapons have been elevated to first-use in a preemptive
nuclear attack. Washington
first took this step, forcing Russia and China to follow.
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"Without an external
economic shock it is hard to see policymakers being prepared to take dramatic,
fiscal action to jumpstart the
global economy... Ironically
the shock that is needed would require a collapse in risk assets for
policymakers to then really panic and attempt dramatic fiscal stimulus."
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GLOBAL RESEARCH
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Milosevic
and the Destruction of Yugoslavia. Unpleasant Truths No One Wants to Know By Giullietto Chiesa
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US
Government Fears Chelsea Manning Disclosures May Lead to Indictments for War
Crimes By Gauri Reddy,
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INFORMATION CLEARING HOUSE
Beyond the embargo on reliable news: the dark corner of the
battlefield between East and West.
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Rethinking
The Cold War and the new one By Paul Craig Roberts
Hitlery declared the President of Russia to be the Ultimate
Threat—“the new Hitler.”
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Ex-CIA acting director Morell who calls for killing Russians
and Iranians
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Whatever ISIS and its allies do is “revenge”, simple
revenge, and should not be condemned by anyone calling himself a progressive.
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The US should be brought to stand in the docket, be
appropriately punished for its crimes of aggression and other war crimes
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As many as 8,000 babies were seized from their families in
the state’s first years and either sold or handed over to childless Jewish
couples in Israel and abroad.
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If Hillary Clinton is elected, her reign may lead into a
real tragedy similar to the one that occurred in the United States a little
over 150 years ago.
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When do we have our American Spring?
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RT SHOWS restored
but not the show of a young black US
lady on Dr.Jill Stein
Redacted Tonight 3rd
parties blocked, innocent man to be executed, election fraud is child’s play
& more
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WASHINGTON BLOG
By Steve Keen – economics professor and Head of the School
of Economics, History and Politics at Kingston University in London – Debt Deflation blog.
For decades, mainstream economists have reacted to criticism
of their methodology mainly by dismissing it, rather than engaging with it. And
the customary form that dismissal has taken is to argue that critics and
purveyors of alternative approaches to economics simply aren’t capable of
understanding the mathematics the mainstream uses. The latest instalment of
this slant on non-mainstream economic theory appeared in Noah Smith’s column in
Bloomberg View: “Economics
Without Math Is Trendy, But It Doesn’t Add Up“.
While Noah’s column made some valid points (and there’s been
some good off-line discussion between us too), its core message spouted five conflicting
fallacies as fact:
- The first (proclaimed in the title supplied by the Bloomberg sub-editor rather than by Noah) is that non-mainstream (or “heterodox”) economics is not mathematical;
- The second is that the heterodox mathematical models that do exist can’t be used to make forecasts;
- The third, that there are some that can make forecasts, but these have so many parameters that they are easily “over-fitted” to existing data and therefore useless at prediction (and they lack sufficient attention to human behaviour);
- The fourth, that though heterodox economists make a song and dance about developing “stock-flow consistent” models, mainstream models are stock-flow consistent too; and
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NOTICIAS IN SPANISH
US Candidata del Partido Verde de EE.UU.: "No
voten por 'la opción menos mala'. Voten por el mayor beneficio" Amy
Goodman
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Cuba Comandante Aram Aharonian
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PRESS TV
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Que difícil es limpiar toda la mierda
pro-imperial
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Iran lifts Turkey tourism ban dangerous move
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US aid to Israel illegal: Lawsuit
Finally!
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UN
'concerned about Aussie camp abuse'
Australia
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