FEB 10 17 SIT EC
y POL
ZERO HEDGE. ECONOMICS
The US Empire doesn’t rule the economy any longer:
In the shadow of Donald Trump’s spree of controversial actions, the European commission has quietly launched the next offensive in the war on cash.
Since the public’s attention has
been drawn to emotional manipulations and political stunts, the threat the war
on cash represents has gone unrecognized. Instead of feeding energy into systems
meant to divide and conquer, individuals must educate themselves to secure
their own financial futures. By submitting to the hive mind and following the
media down whichever rabbit hole they choose, the most important issues of
today will go unnoticed. The
value of advocating for decentralized and physical alternatives to the
banking system may not be easily grasped by the activists of today, but few
other things have the potential to erode freedom on such a massive scale.
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After an initial spurt higher on
"strategic ally" comments, the dollar faded and yen rallied on
comments from President Trump regarding FX moves with President Xi and Abe's
comments on protecting the Senkakus - both related to China...
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After an outstanding start to the
year for Equity hedge funds, this most recent gap
move higher in stocks (while rates and FX remain firmly ‘in range’)
is pretty-much exactly what RBC's Charlie McElligott warned is a "bad scenario" for equities funds.
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This is the chart that "horrifies" the CEO of the
world's largest asset manager. This is the chart that has Larry
Fink "seeing dark shadows in
the market." Given the average investor's mainstream-media-trained hive-mind, we suspect some will be surprised
by his choice...
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"it's
risk-on in Bonds, it's inflation-on in Stocks, and EM is now playing role of
cyclical catch-up trade" says BofA. In short, in the last
week the Trump Trade has emerged from the dormancy in which it had faded for
the past month. BUT when one looks at where the money is flowing, it's
everywhere but where one would expect, as US stocks have seen outflows 4 of the
past 5 weeks.
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As we pointed out long ago, there is no possible fix to the Dallas pension mess except massive
haircuts to pension payouts. Given The pension board does not want to
admit that, nor the mayor, nor the city council, it was inevitable talks would disintegrate into
finger-pointing and lawsuits. That’s
precisely what happened.
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This is not
what the market is hoping for...
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EIA
confirmation of OPEC cut-compliance is trumping the dismal inventory data
and surging US production for now. However, as US oil
rig counts continue to rise (+8 to
591 - highest since Oct 2015) with US crude production charging
ahead with it, the question many should be asking (given all-time
record high net long speculative positioning in WTI/Brent) is "what will OPEC
do if the market doesn't rebalance?"
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Dead
Market Walking
Lowest 90-day realized vol for the S&P 500
in 10 years...
85 days in a row
without a 1% drop... 44 days without a 1% close to close gain or loss... 39
days in a row without a 1% intraday swing...
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The only possible output of low social
capital is rising inequality. We have a choice. We can continue loving
our servitude in our Plantation Economy,
or we can choose another model and another mode of
production.
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"The important point to note
here is the historical
deviation between exuberance and economic realities has generally NOT been resolved
by reality catching up with fantasy. It
has always been the other way around."
SEE 2 videos Interv with Danielle DiMartino. She and I
dig into the economy, the Fed’s missteps, and the realities that currently
prevail in the market and the economy. I am sure you will enjoy the interview.
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Here the reads for this weekend
Trump/Economy
- Slapped In The Face by Danielle DiMartino-Booth via Money Strong
- US-China Relations Speed Towards Rupture by Jim Rickards via The Daily Reckoning
- Fink: U.S. Facing Two Major Crises by Bob Bryan via Business Insider
- Optimistic Growth Forecasts Miss The Risk by Ashoka Mody via Project Syndicate
- Poll: Americans Having Doubts On Trump Agenda by Eric Pianin via Fiscal Times
- Trump May Send More Jobs To Mexico by Rob Garver via Fiscal Times
- Happiness Runs by Bill Gross via Janus Capital
- Trump Right About Need For Term Limits by Caroline Baum via MarketWatch
- Not A Nation In Crisis by Kevin Williamson via National Review
- Corporate Execs Play Politics At Their Peril by IBD
- Trump Rule Fix Means More Money For Street by Benjamin Edwards via Washington Post
- Trump Kills DOL Rule by David Bahnsen via Forbes
- Trumps Move To Roll Back Regulation A Mistake by Pedro Da Costa via BI
- Global Economy’s Surprising Resilience by Jim O’Neill via Project Syndicate
- Protectionism Won’t Help The Middle by Larry Summers via Financial Times
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Markets/Fed
- Be Very Afraid Of The Stock Market by Linette Lopez via BI
- Really Difficult To Be A Bear These Days by Avi Gilburt via MarketWatch
- Markets Are Priced For Poor Returns by Jeff Erber via Grey Owl Capital Mgmt.
- Stock Market Sending Unusual Warning by Anthony Mirhaydari via Fiscal Times
- Why You Should Never Buy Stocks Again by Ryan Vlastelica via MarketWatch
- A Valentine’s Day Massacre? by The Heisenberg via Seeking Alpha
- Seth Klarman Weighs In On Trump by Andrew Ross-Sorkin via NY Times
- Stocks, Vice & Trump by James Mackintosh via WSJ
- Growth Stocks & Bond Yields by Eric Bush via GaveKal
- Fed Already Has A Problem by Pedro Da Costa via BI
- Is The Trump Rally Over Already by Edward Harrison via Credit Writedowns
- Investors Should Prepare For Bear Market by Ben Carlson via Bloomberg
- You Will Need More Than You Think by Robert Powell via USA Today
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Favorite / Interesting Reads
- Robots Coming For Wall Street Jobs by John Byrne via NY Post
- Why The Market Isn’t Freaking Out Over Trump by Tyler Cowen via Bloomberg
- Trump Not The Only One Working Longer by Justin Fox via Bloomberg
- Hedge Funds Tracking Every Move by Rachael Levy via BI
- Retirement: $350k For Healthcare? by Robert Powell via MarketWatch
- I Am Long Stupidity by EconMatters
- Yardeni’s Magical Stock Market Indicator by Kevin Muir via The Macro Tourist
- Quick Guide To Border Tax Adjustments by William Gale via RCM
- 4% Growth Or Crash by Marc Joffe via The Fiscal Times
- Biggest Tax Mistakes Retirees Make by Maurie Backman via USA Today
- Economic Theory Rarely Survives Contact by Joe Calhoun via Alhambra Partners
- Lacy Hunt: Why Bond Yields Are Going Lower by Tyler Durden via ZeroHedge
- Texas Realtors Paying For Bad Research by Aaron Layman via AaronLayman.com
- Investors Rarely See Manias In Progress by John Hussman via Hussman Funds
- Trump Rally Is Thinning by Dana Lyons via Tumblr
- 3-Popular Idiotic Investment Strategies by Jesse Felder via The Felder Report
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POLITICS
In an ironic twist, on the day that President
Trump announces that former Goldman COO Gary
Cohn will be in charge of the "phenomenal" plan that will
"massively cut taxes," Senator Elizabeth Warren has written to
Goldman's Lloyd Blankfein seeking details on the extent to which the bank's
employees (or former employees) are running the world.
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WORLD ISSUES and ME
The dollar has surged in the last 24 hours (following President Trump's
tax-reform comments) to its strongest against the yen in 10 days ahead of today's meeting of US and
Japanese leaders.
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“It’s a big signal to the stress that’s starting to build here.”
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Vladimir Putin thanked Slovenia - the country
where Melania Trump was born and raised - on Friday for offering to host his
first meeting with President Donald Trump, saying he is ready to meet his
American counterpart, however added that the prospect of such a meeting hinges
on Washington.
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Marine Le Pen's threat to redenominate €1.7
billion in French debt infor francs has sparked panic among the establishment,
with rating agencies, economist and central bankers all warning that this would amount to the largest sovereign
default on record, threatening chaos to the world financial system on top of
the collapse of the single currency.
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DEMOCRACY NOW
Court
Refuses to Reinstate Trump's Muslim Ban, Says "No Evidence" of
Attacks from 7 Listed Countries
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GLOBAL RESEARCH
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INFORMATION CLEARING HOUSE
Economist Who Predicted Trump & Brexit
Explains How The System Screws You
Must Watch – Video
Must Watch – Video
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Trump’s Ties to the Past and the Resurrection
of the Left By James Petras
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What The US Representative to the UN Should
Know About "Annexed" Crimea By Arina TSUKANOVA
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COUNTER PUNCH
Kshama Sawant A
Socialist Strategy to Defeat Trump
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Paul Street Revolution
Beyond Blue Bubbles
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Mel Goodman Trump vs. the
CIA
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Howard Lisnoff Take
to the Streets, Again and Again
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SPUTNIK and RT SHOWS
Trump Will Not Appeal Travel Ban Decision To US Supreme Court https://sputniknews.com/news/201702111050567767-trump-appeal-ban-decision-scotus/
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Town Hall Revolt: GOP Lawmakers Under Attack Over Obamacare Repeal (VIDEOS) https://sputniknews.com/politics/201702111050566358-obamacare-protests-gop-town-halls/
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Kremlin Explains Why Russia's Airstrike Resulted in Turkish Soldiers' Deaths https://sputniknews.com/middleeast/201702101050536710-kremlin-russia-syria-turkish-soldiers/
Related
Putin's Reaction to Strike on Turkish Army in Syria Helps 'Avoid Damage to Ties' https://sputniknews.com/politics/201702091050519533-putin-turkey-russia-strike/
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RT SHOWS
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WASHINGTON BLOG
Posted on February 10, 2017 by Charles
Hugh Smith
One of the themes I’ve been
addressing since 2008 is the neocolonial-plantation structure of the U.S.
economy. The old models of
colonial exploitation that optimized plantations worked by cheap imported labor
(or situated in peripheral nations with plenty of cheap labor) have, beneath
the surface, been adapted to advanced capitalist democracies.
The adaptations have been so
successful that not only do we not even recognize the Plantation structure–we
love our servitude within it.
As noted yesterday, the current
mode of production optimizes the commoditization of everything: computer
chips, fish and chips, labor, expertise, everything.
This commoditization optimizes
the Plantation Model of
integrated production, global supply chains and distribution to global
marketplaces, a hierarchical management focused on maximizing profits to send
back to the owners, a ruthless focus on lowering costs via labor arbitrage
(commoditize the work so it can be performed anywhere labor is cheaper/more
desperate) and a fanatical desire to eliminate competition or fix prices via
cartels to ensure high profits.
Global capital has optimized the
Plantation Model in the form of global corporations. Wal-Mart
is the quintessential example. Like a classic agricultural plantation, Wal-Mart
enters a region with a diverse, employment-rich ecology of small businesses and
supply chains of local and regional manufacturers and distributors, and it
bulldozes the entire “forest” of businesses, suppliers and distributors with
the irresistible blade of integrated global supply chains and “lower prices,
always.”
⇒ Keep Reading
⇒ Keep Reading
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NOTICIAS IN SPANISH
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El mercado laboral en el tercer
trimestre de 2016
José Daniel Lacalle
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“Macri: agente de la desintegración
de América Latina” Héctor
Bernardo
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PRESS TV
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Trump
considering ‘new order’ on immigration
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Putin
says Russia-US ties need to be restored
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‘US
troops deployment to Afghanistan failed plan
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