AUG 16 16 SIT EC
y POL
ZERO HEDGE
ECONOMICS
Core CPI
(ex food and energy) rose 2.2% YoY (below the 2.3% expectations) but remains
above The Fed's 2%-mandate for the 9th straight month. The modest
disappointments across the board in CPI data were led by a drop in energy-related prices (down
1.6%) with food prices unchanged. The headline CPI
data was unchanged month-over-month, the weakest price change since Feb 2016.
See image at http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/08/07/20160816_cpi1_0.jpg
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Bloomberg's
US Dollar index has tumbled most in a month to 3-month lows overnight -
led by Yen and Swissy strength - as it appears the sudden
realization that The Fed is on hold no matter what ripples across FX markets.
Sept rate hike odds are back below 10% and even Dec odds are below 30% as a series of weaker than expected US macro data
blows the recovery narrative...
See
image at: http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/08/07/20160816_USD1_0.jpg
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Investors may be dazzled by the
earnings-per-share gains that buybacks can achieve, but who
really wants to own a company in the process of liquidating itself? Maybe
it’s time to ask harder questions of corporate executives about why their companies aren’t deploying their precious resources
more effectively elsewhere.
See
image at: http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/08/07/20160816_buyback_0.jpg
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"The
six months under review have seen central bankers continuing what is surely the
greatest experiment in monetary policy in the history of the world. We
are therefore in uncharted waters and it is impossible to predict the
unintended consequences of very low interest rates, with some 30% of global
government debt at negative yields, combined with quantitative easing on a
massive scale."
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"It's
a classic quandary: that oil priced at over $75 a barrel in today's
dollars tends to crush economies, and oil priced under $75 a barrel in today's
dollars tends to crush oil companies.There is no real sweet spot between those two
places. We're ratcheting between them and each one of them entails a lot of destruction."
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With oil largely tracking the
dollar as opposed to actual fundamentals - ignoring
3 weeks of crude builds at an odd seasonal time - the surprising build
in gasoline inventories (after 2 big draws) seems to have woken some
traders up. While crude and Cushing inventories fell, the combination of
gasoline (biggest in 6 months) and distillates builds were significant. Oil prices had surged to one-month highs ahead of the API
data but quickly dropped after the print.
See graphics at: http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/08/16/20160816_API1_0.jpg : Crude inventories fell following
last week's 3rd build in a row - quite unprecedented for this time of year...
And: http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/08/16/20160816_API2_0.jpg : Oil had pushed on to th ehighs of the day
before the API data - near one-month highs.
Related articles:
….
Oil
Panic-Buyers Ignore US Dollar Bounce with nice graphic at: http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/08/07/20160816_oil_0.jpg
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Nothing is more suicidal than a rational investment policy in an irrational
world.”
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No matter where you look, shipping volumes at
peak season are down significantly... "probably nothing"
See image at:
http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/08/16/20160816_freight_0.jpg
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The looming pension catastrophe is an inconvenient fact for elected
officials as well as union bosses and their membership. Rational solutions like cutting
benefits are not palatable to employees or the elected officials that require
their votes. As such, we suspect the
problem will continue to be ignored
until it boils over...
As you can see below, a $1BN pension that is fully funded at
prevailing interest rates would be nearly $700mm underfunded if interest rates
declined 300bps and all of their assets were invested in 30-year treasury
bonds. The result is obviously even worse if the fund's
assets are invested in shorter duration 5-year treasuries.
See image at: http://www.zerohedge.com/sites/default/files/images/user230519/imageroot/2016/07/26/Pension%20Duration%20Example_1_0.png
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Economist Paul Krugman is whining for more fiscal stimulus, his
favorite pastime by far. Krugman’s target this time is Japan... "The average 5th grader
understands it’s absurd to pay money for something guaranteed to be useless,
but the average Keynesian economist doesn’t."
Related article: 5
Reasons Why Austrian Economics Is Better Than The Mainstream : Mainstream economics is
fraying at both ends, but with a touch of deflection and embarrassment.
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On
electoral promises:
The
Real Existential Threats Of 2016 is a dangerous existential threat
"If
one belongs to that third of the nation that pays no income taxes but
receives copious benefits, why would you vote for a party that will cut
taxes you don’t pay, but take away benefits you do receive?" And so they did, and so they do. But this is a game that cannot go on forever.
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The removal of the restraint of gold redemption freed the Federal
Reserve to engage in more inflationary monetary policy than ever. The effects of that on money supply
and official price inflation figures are [not] readily apparent.
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POLITICS
Often cited as an important reason for US success as a global power, our diversity has finally come home to roost, and it’s taking a destructive, cruel toll.
A unique magic glue that we somehow thought would keep myriad groups in America working at unison with a common goal
forever, has unhardened, lost both its adhesive properties and cohesive
strength, leaving us with a
divided America. No; not as a simplistic two-part nation, but as a
fragmented Humpty Dumpty beyond the conservative-liberal political fray.
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U.S.
senators are attempting to block the State Department’s deal to sell Saudi
Arabia nearly $1.5 billion in weapons, just days after the move was
announced by the Obama administration.
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In 1985, the CIA recognized that
progressive parties and leaders had opted for the ballot box to achieve
political power. Since 1985 and encouraged by the
Clintons, the power of the ballot box has been overturned by the CIA and
its ciphers USAID and George Soros’s Open Society Institute, using undemocratic
election tactics in Haiti, Honduras, Venezuela, Panama, Guatemala, and
Guyana. The Clintons can surround themselves with all the black and brown
supporters they can muster up in the United States, but for the black and brown people of the Caribbean, the
Clintons represent pure corruption, coercion, and neglect.
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YOU VOTE… WE DECIDE
"This
race is a lot closer than people think, and media headlines re:polls are probably being spun
across the board... This
is how elections are really rigged. Far before people ever get to the voting
booths."
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ME & WORLD ISSUES
Looking Forward
the future
The
world’s leading governments have become decidedly fascist and are rapidly
heading in a totalitarian direction. There are a number of facets
to this development, all of them is disturbing: The elimination of personal privacy, the creation of
capital controls, confiscation of wealth, the conversion to electronic banking
as the sole form of currency, international taxation standards and the creation
of a police state.
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It's easy to shrug off the
sharpest productivity decline in 40 years and the worst non-recessionary
industrial production contraction in US history because... well it's
the new economy, stupid and you just don't get it. But when 'new
economy' networking giant Cisco is reportedly set
to announce it is laying off a record number of employees - 14,000 representing
20% of its global workforce - surely it is
time to question the "everything is awesome" narrative.
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Following the hack of the Soros Open Society Foundation hack by the
DCLeaks collective, several notable revelations have emerged among the data
dump of over 2,500 documents exposing the internal strategy of the
organization. Here are some of the most notable.
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DEMOCRACY NOW
Matt Taibbi on Trump’s Position
on NATO, Russia & his Campaign Head’s $13 Million Scandal in Ukraine
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GLOBAL RESEARCH
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Venezuela,
Argentina, Bolivia…: What Happened to the “Pink Tide” of “Left Leaning”
Governments in Latin America? By Kyla Sankey
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Syrian
War Report: ISIS Rebels Attack on US Outpost, Russian Airforce Bombs ISIS
Positions… By South Front
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Scholar Arun Kundnani
says Trump's new anti-Muslim proposals are mainstreaming the marginal far-right
Islamophobes.. [ but he didn’t create this context ..
who did it?.. Of course Mrs Clinton and the Saudis who finance, arm and use
them in her Libyan affair.]
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Wisconsin State Rep.
Mandela Barnes says the police killing of Sylville K. Smith took place in a
city where African Americans face enormous inequity, high unemployment, mass
incarceration, and a failing education system..
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Black Agenda Report's
Glen Ford: Mass incarceration begins with hyper-surveillance of the Black
community and ends in death as it did in Milwaukee
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Robert Naiman says
real foreign policy would call out Saudi Arabia for its role in the rise of
ISIS and the devastating war on Yemen
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CEPR economist Mark
Weisbrot says the collapse of the IMF's power over low and middle-income
countries is one of the most significant changes in the international financial
system
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INFORMATION CLEARING HOUSE
Seymour Hersh on White House Lies About bin
Laden's Death Pakistan and the Syrian Civil War
By Mark Karlin
By Mark Karlin
The CIA did not merely undermine Congressional oversight in
the Bush/Cheney years -- it sabotaged them.
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COUNTER PUNCH
Patrick Cockburn Foreign
Backers Flood Syria
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Here 2 articles in
the crusade against Trump
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Mark Weisbrot The End of
Trump Both .. Just wishful thinking supported by Hillary Corp media
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SPUTNIK
SUPER Russian Bombers Destroy ISIS Command
Centers in Deir ez-Zor, Syria
By Jim W. Dean From http://www.4thmedia.org/
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Could Deep Dissatisfaction in the US Political System Lead to a Trump Victory?
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WASHINGTON BLOG
Posted on August 16, 2016 by WashingtonsBlog
By Michael Snyder, the Economic Collapse Blog.
In America today,
more than 60 million people live in multi-generational households. That
number is so large that it may seem difficult to believe, but the truth is that
vast numbers of young adults have had to move back in with their parents and
grandparents in recent years due to the deteriorating economy.
Millions of our young people cannot find decent jobs once they leave
school, and millions of them are absolutely overwhelmed by debt. Of
course some of them are just lazy, but whatever the reason it is undeniable
that multi-generational households are on the rise. According to the Pew Research Center, 12
percent of the U.S. population was living in multi-generational households back
in 1980. Today, that number is up to 19 percent. That means nearly
one out of every five U.S. adults now live with their parents or their
grandparents.
One of the big culprits, of course, is student loan debt.
According to CNN, approximately 70 percent of all
college graduates will have student loan debt to pay off once they leave
school, and the average loan balance for those graduates is about $28,950.
But there are many
that run up $50,000 or $100,000 in debt at high end schools. We encourage
our young people to apply to the “best schools” that they possibly can, and we
tell them that they shouldn’t worry about how much it will cost. We
assure them that they will be able to easily pay back any debts once they leave
college because of the “good jobs” that they will get upon graduation.
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[ A note before the coming reading: Politics is defined by Actions of main actors. Academics are
mere observers .. or annalists, to say the best .. they do not define nothing
in real politics .. Top research standards and strong convictions is what we do
expect from them. Read this & make your judge.]]
By Michael Hudson .. [[what comes in brackets is my comment: Hugo Adan]]
SHARMINI PERIES: It’s
the Real News Network. I’m Sharmini Peries coming to you from Baltimore.
Now that the
Democratic and the Republican Party conventions are over, the U.S. presidential
campaign is entering its last phase before the actual vote in November.
Normally this should the point at which each party is very internally united
and focusing on presenting its own program and attacking the opponent. However this time around, it seems each party continues to be
more divided than ever. More and more Republicans are defecting from
Donald Trump. And on the Democratic side, the debate is
still raging about who supporters of Bernie Sanders should vote for in November.
With us to present his analysis of the post-conventions
and the U.S. elections, is Michael Hudson.
MICHAEL HUDSON: Good to be here.
PERIES: So Michael, in a recent article that you
penned on your website, you argued that Hillary Clinton’s campaign is using a
very clever strategy in that it is trying to associate criticism of Clinton
with support for Trump and therefore support for Russia
[ Trump doesn’t support RU.. for
electoral reason he is in favor of peace & against nuke war. Even if this
is only rhetorical, that is a plus given the current context.], which in
the end is anti-American. Now, this type of association game, which is supposed
to make it difficult for Sanders supporters to
criticize Clinton, [ [Michael ignores a huge
socio-political MOv against Mrs Clinton]] what implication does this
have on the overall politics in this country?
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NOTICIAS IN SPANISH
¿Paz
en Colombia? Javier
Giraldo Moreno
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PRESS TV
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When ? after elected?.. what we need that for?
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‘Both
Trump and Clinton are dishonest’ That is known
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And RU reacts to many bases created around RU-China
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