SEP 1 16 SIT EC
y POL
ZERO HEDGE
ECONOMICS
"The only thing keeping the US out of recession
is the US consumer (see chart below). It
is difficult to say consumption is driving the economy forward ? rather it is
like a wood-worm-ridden crutch creaking under the strain of holding up a
deadweight economy. This recovery ? the fourth longest in history ? is surely nearing its end."
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"Death, Taxes, & A Disappointing August Jobs Data" - Why Tomorrow's Payroll Print Will Be A Farce
As the world awaits tomorrow's
"most important jobs data ever" on the basis that it alone will decide the path of The Fed's
data-dependent rate decisions and thus the tightening of financial conditions
across global markets, there
is one chart that everyone has to see...
August NFPs have been
weaker than consensus
expectations in each of the last 5 years and in 14 of the last 18 years of
available data.
SEE BIG CHART AT: http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/09/01/20160830_payrolls_0.jpg
And furthermore, going back 25 years, no month has produced less jobs than August...
Which
could be a problem, because,
as Bloomberg reports, while the
focus was on Yellen’s statement that the
case for an interest-rate increase “has strengthened in recent months,” she followed with new language that the central bank’s
decisions depend on the degree that data “continues to confirm” the outlook.
And if the odds play out, it will
be a disappointment...
Two potential issues complicate
the report:
One, the
payrolls data have been cursed in August, with the survey median
undershooting the first print for the month in each of the last five years, by
an average 47,000
The
second issue is that wages could be subject to a calendar quirk. The
report’s survey week doesn’t include the 15th -- a payday for many workers --
and that pattern frequently has resulted in weaker average hourly earnings
growth.
But realistically - only one thing matters - Is The Dow more than 3% from record highs? If "yes"
then 'hold rates'.
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There is one commodity that Wall Street always
has in abundance, “optimism.” When
it comes to earnings expectations, estimates are always higher regardless of
the trends of economic data. The problem is that the
difference between expectations and reality have been quite dramatic.
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Obama crash them down in Ec &
Pol terms.. Hillary will do the same .. Masoquism? : mas me pegas mas te
quiero.. pero si me pegas demasiado te mato, dicen algunas cholas del sur. Or
manipulacion mediatica .. pro-servilismo a los Dems?
While consumer comfort among black
Americans is more volatile than among white Americans, Bloomberg's confidence
survey points to a massive collapse in comfort for
black Americans last week (from an exuberant 47.9 to a dismal 37.7).
This is the
biggest percentage drop since Obama's Syria "red line" in Aug 2012
and biggest absolute drop since Feb 2001.
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The slowdown in US construction spending growth is rapidly becoming
another fiction-peddling chart that President
Obama, Janet Yellen, and equity market bulls need to ignore...
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ISM Manufacturing had already rolled over in July, but August's collapse (from 52.6 to a contractionary 49.4)
has erased the dead cat bounce hopes of Q2.
Across the board, ISM factors deteriorated with new
orders plunging.
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RELATED
RELATED
Ford is admitting that "sales have
reached a plateau." The
crazy thing about "plateaus" is that there's a cliff on both sides.
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If there is a reason why traders walk into their office every day in a
state of zombified daze, no longer able to trade various asset classes based on
fundamental data or incremental news flow, there is a simple reason for that: global central bank liquidity injections
have never been greater, and as of this moment,
have surpassed all previous post-financial crisis central bank intervention.
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As expected Q2 US worker productivity slowed from its initial -0.5% to
a final -0.6%. This is the 3rd quarterly decline
- the first instance since 1979 - and the last 3 quarters are the biggest plunge in productvity since 1993 (thanks to a doubling of unit labor costs
from expectations of +2.1% to +4.3%).
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POLITICS
New Hillary emails released by Judicial Watch reveal, among other
things, Clinton Foundation executive Doug
Band pushing the State Department for diplomatic passports, and Bill Clinton
pushing for a meeting between Hillary and Clinton Foundation mega-donor and CEO
of Dow Chemical, Andrew Liveris.
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Hillary’s Approval Rating Plunges To Record Low, Neck And Neck With Trump
A record
number of Americans now dislike Hillary Clinton…
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For all his flaws, he's the only hope against the long, failed Bush-Clinton incumbency...
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ME & WORLD ISSUES
An
important election is coming up, and I’m not talking about the US presidential
election. The upcoming referendum in Italy this fall
will have a
major macroeconomic impact on the world. But hardly anyone
outside of Italy is paying much attention to it - yet.
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Supply-Chain Contagion Arrives - "Global Trade" Roiled, Cargo-Owners Panic In Wake Of Hanjin Bankruptcy
The Hanjin collapse has led to frozen ships around the globe, roiling
the industry as freight rates surge, panicked cargo owners try to locate their
goods, and manufacturers scramble for alternatives.
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Well that escalated very quickly...
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If a nation's currency loses value, the ladders of
social mobility are broken, the tax system is corrupt and/or if unfair trade is restricted or suppressed, the nation/empire is doomed to erosion and
collapse.
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In time of corruption.. honest ladies fall: Dilma in Brazil
& Merkel in GER.. the crook survive in US
Chancellor Angela Merkel's conservative
Christian Democrats, hit by a series of regional
election defeats this year, face further losses in a vote in the
northeastern state of Mecklenburg-Western Pomerania -
the home state of Angela Merkel - on Sunday where if the latest polls are
right, Merkel is set to suffer a humiliating defeat.
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THE TECH-WORKER WENT TO JAIL and his boss, Hillary, apply to
Presidence.. what a world!
The infamous Romanian hacker Marcel Lazar,
better known by his nickname "Guccifer" and best known for helping
expose the existence of the private email domain Hillary Clinton used
when she was U.S. secretary of state was sentenced on Thursday to 52 months in
prison by a federal court in Alexandria, Virginia.
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"Hillary
represents everything that has gone wrong in our lives over the last couple of
decades...she sees the European Union as a prototype for an even bigger form of world government...what we’ve done
is given inspiration to freedom fighters right
across the Western World."
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The S&P 500 is on a rare streak of closes near a 52-week high; can this bull run continue or will gravity take over?
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Setting the mood ahead of
tomorrow's "critical" for the Fed's September rate hike decision
payrolls report, moments ago, WSJ reported that Wal-Mart Stores plans to cut 7,000 back
office positions around the country, a restructuring move that in
addition to seeking to improve its efficiency, will drastically alter the
layout of its workforce, which as recently as a year ago was delighted by WMT's
minimum wage price hikes.
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- Global shares snap losing streak as oil ends its decline (Reuters)
- Trump returns to hardline position on illegal immigration (Reuters)
- U.S., others agreed to 'secret' exemptions for Iran after nuclear deal (Reuters)
- China’s Factory Gauge Unexpectedly Rises to Highest Since 2014 (BBG)
- Weak Pound Drives U.K. Factories Back From Brexit Shock (BBG)
- Elon Musk Faces Cash Squeeze at Tesla, SolarCity (WSJ)
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DEMOCRACY NOW
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U.S. Arms
Manufacturer to Stop Making Cluster Bombs [Today there are worse weapons than CB]
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GLOBAL RESEARCH
Declaration
of Cuban Govt on Brazil’s Coup d’état, Perpetrated against Pres Dilma Rousseff By Cuba Debate
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Margaret
Thatcher’s Role in Controversial £42 Billion Arms Deal with Saudi Arabia.
Declassified Files By Lara Rebello
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Ponte el alma Mumia .. los pueblos del mundo
estamos contigo, contra el racism y juicio justo para ti.
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In
the Wake of Dilma’s Impeachment: Prest Temer Gets Furious Welcome from
Brazilians Across the Country By Telesur,
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The
Real Reason Brazil’s Democratically Elected Dilma Rousseff Was Impeached. Money
and Power… By Graham Vanbergen,
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COUNTER PUNCH
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Ramzy Baroud ‘Activism’
and Its Consequences: Syrian Refugees Are Not Subjects for a Social Media
Gallery
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John Laforge The
Dangerous Nuclear Plant Rising on DC’s Doorstep
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RT SHOWS & SPUTNIK
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WikiLeaks Blasts Gray Lady for Pushing Pro-Clinton 'False
Conspiracy Theories'
http://sputniknews.com/us/20160901/1044866942/wikileaks-assange-russia-conspiracy-theory.html
http://sputniknews.com/us/20160901/1044866942/wikileaks-assange-russia-conspiracy-theory.html
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US Trained Militants That Formed the 'Core of Daesh' http://sputniknews.com/us/20160901/1044851247/us-trained-militants-daesh.html
RELATED
Made in America: State Dept. Launches $3Mln Manhunt For Daesh
Leader Trained in US
http://sputniknews.com/us/20160901/1044851247/us-trained-militants-daesh.html
http://sputniknews.com/us/20160901/1044851247/us-trained-militants-daesh.html
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Brazilian 'House of Cards': Is Temer Following Underwood's
Path? http://sputniknews.com/analysis/20160901/1044866162/brazilian-house-of-cards.html
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Personal Enmity and Bias: EU Uses Accession Talks With Turkey
to 'Its Own Advantage' http://sputniknews.com/politics/20160901/1044844413/eu-turkey-relations.html
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WASHINGTON BLOG
WASHINGTON BLOG
Posted on September 1, 2016 by Charles
Hugh Smith
One of my reading projects over
the past year is to learn more about empires: how they are established, why they endure and why they crumble.
To this end, I’ve recently read
seven books on a wide variety of empires. The literature on empires is vast, so
this is only a tiny slice of the available books. Nonetheless I think these 7
titles offer a fairly comprehensive spectrum:
How Rome Fell:
Death of a Superpower (Adrian Goldsworthy)
War
and Peace and War: The Rise and Fall of Empires (Peter Turchin)
The Rise of
Rome: The Making of the World’s Greatest Empire (Anthony Everitt)
428
AD: An Ordinary Year at the End of the Roman Empire (Giusto Traina)
Genghis
Khan and the Making of the Modern World (Jack Weatherford)
Venice: A New History (Thomas
F. Madden)
Byzantium:
The Surprising Life of a Medieval Empire (Judith Herrin)
I was not exposed to
much history of the Byzantine Empire in high school or college, so I found the
last book of particular interest, despite its dry academic style.
The Byzantine Empire, based in
Constantinople (now Istanbul), began as the Eastern Roman Empire when the
Roman Empire was split into East and West to facilitate defense. .. In the
original conception, the two halves would be jointly ruled by two emperors. But
as the Western Roman Empire frayed and devolved, power shifted to the
still-vibrant Eastern Roman Empire, which spoke Greek rather than Latin and was
Orthodox Christian rather than Catholic.
⇒ Keep Reading
⇒ Keep Reading
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NOTICIAS IN SPANISH
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VEN Comunicado especial del ALBA-TCP denunciando
intentos de desestabilización en Venezuela ALBA-TCP
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Keiser
report Robos monetarios de la élite
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PRESS TV
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