AUG 2 17 SIT EC y POL
ND denuncia debacle d Globaliz neoliberal y
propone State-Social + Capit-compet in Econ
ZERO HEDGE ECONOMICS
Neoliberal
globalization is over. Financiers know it, they documented with graphics
What if the decline in US
productivity measured since the 1970s isn’t happening in spite of technology, but because of it?
As we detailed previously, adjusting
for the WWII anomaly (which tells us that GDP is not a good measure of a
country’s prosperity) US productivity growth
peaked in 1972 – incidentally the year after Nixon took the US off gold.
The productivity decline witnessed ever since is
unprecedented. Despite the short lived boom of the 1990s US productivity growth
only average 1.2 per cent from 1975 up to today. If we
isolate the last 15 years US productivity growth is on par with what an
agrarian slave economy was able to achieve 200 years ago.
As we
reported last year, users spent 51% of their total internet time on
mobile devices, for a total of 5.6 hours per day snap-chatting, face-booking,
insta-graming and taking selfies
Maybe in their next
wide-ranging study, economists could include a test group of workers who leave
their phones in a locker at the beginning of the work day, and try to measure
how much their “productivity” improves.
So, while every effort can be made by Ivory Tower academics to solve the
problem of American worker productivity, perhaps it can be summed up simply as "Put The Smart-Phone
Down!"
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Xenophobia again?.. It is easy –but flaw- to create a scape-goat & shoot on it
"Manhattan is a
particular worry, with about 30 percent of transactions in the borough that’s home to Wall
Street involving Chinese parties in 2017"...
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30Y Yields Slide After Treasury Refunding Does Not Mention Ultra-Longs; Can Fund Through September
"The
Committee was generally of the view that the borrowing needs would likely be
best addressed by increasing issuance in bills and a broader set of coupons,
but concluded that it was premature to make specific recommendations regarding
sequencing or tenors at this time."
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The USD
is off to its worst start since 1985, down about 9%...
The weak USD is setting up a
possibly profitable rotation out of US equities into longer dated US
Treasuries. In the next
chart, I take the total return of our KLSU DM Americas Index (top 85% of North
American market cap) relative to the JP Morgan Government Bond 15+ Years Index.
I overlay the USD, and as can be seen from the chart, the relative performance
of stocks vs. bonds tracks the USD fairly closely. If the stock/bond ratio
follows the USD back to its May 2016 lows, bonds could outperform stocks by
about 35%.
The likely mechanism is a plunge
in real rates, or TIPS. In
this next chart, I overlay 10-year TIPS on the USD (inverted). The last time
the USD was around this level, 10-year TIPS yields were zero.
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"Despite
all the positive surprises analyst have only raised the the next twelve month
sales estimate by 0.69% for the median US mid and large cap company over the
last month..."
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"Maybe
the sales slump isn’t so much an independent force that’s driving the business
cycle but merely a substitution for other types of spending..."
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In
mid-2014, a whistleblower alerted the Home Capital board to the massive income
verification fraud that had gone undetected for years. The board
responded in early 2015 by hiring KPMG to conduct an independent review of what
led to this epic breakdown in HCG’s underwriting systems. We are in possession of a copy of KPMG’s report, and for the
first time ever are giving the public the unvarnished truth of how Home Capital
ran its mortgage business.
We Don’t Need No Stinking Systems
The best way to describe HCG’s systems infrastructure is
this: utter fiasco. As was
suggested by the botched and serially rebooted broker portal “launch”, HCG appears to have no internal capability to manage an IT
project of any scale. Despite this, it undertook a program to
replace its legacy systems with an SAP implementation that ran significantly
over budget. Tales of SAP consultants burning $600 an hour are legion
among HCG ex-employees, with the finally tab for the project coming in at over
$50MM.
And yet, when all was said and done,
major parts of the SAP system were never fully implemented. There
is a reason why Rhonda Starkman’s statements from HCG don’t foot. Among KPMG’s findings:
- The number of known systems issues in the SAP mortgage origination module ran as high as 4,000 and still numbered 400 at the time of the KPMG review
- The SAP mortgage origination module was never fully implemented and the legacy system was turned off without a parallel run to confirm the functionality of the SAP system
- HCG had used manual processes without controls since 2011 for thing such as Gross Debt Service and Total Debt Service calculations (done in Excel) and its underwriting process was a completely paper based system
- There was no linking of the Do Not Use broker list with the master broker list, necessitating manual updates and a master list that was frequently out of date
- Broker relationship data was stored in SalesForce which was not linked to SAP thus creating a gap in measuring broker level performance of loans
- The Compliance function was not notified of fraud incidents listed on the broker watchlist
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"The Amazon business model is fatally flawed. It’s only a
matter of the precise catalyst that will trigger the realization in the casino
that this is
another case of the proverbial naked emperor... I do not think AMZN is a freakish
outlier. It’s actually the lens through which the entire stock market should be viewed because the whole enchilada is now in the grips of a
pure mania."
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Eurofobia starts
"One conclusion you can’t avoid making
is it’s in serious play - against
everything..."
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POLITICS
La seudo democ y sist duopolico es obsoleto por fraudulento y
corrupto. Urge cambiarlo
During the later portion of a phone-call
by the world’s greatest investigative journalist, Seymour Hersh, Hersh has now presented “a narrative [from his investigation]
of how that whole fucking thing began,” including who actually is behind the
‘RussiaGate’ lies, and why they are spreading these lies.
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[[ Childish argument: Is imperfect, invalid, stupid..
but I signed to preserve National-Unity. It is childish no denounce father’x abuse to
preserve family unity. What sense of Unity Trump talks about?
No other than unity of corrupted decomposition.. Unethical-olygarchical
cynicism. Mr. Tillerson arg is even worse: We stab in the back of RU to
preserve our friendship: So idiotic.. ]]
After several days of delays, which prompted
speculation among politicians and the media why the White House is dragging its
feet on the issue and was the topic of several questions during Rex Tillerson's
Tuesday media press conference, moments ago the Donald Trump officially
signed the Russian Sanctions bill:
RELATED: see below
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Today, the Dolar Today website reported that
Venezuela's black market exchange rate surged past 14,000 bolivars per
dollar. When President Nicolas Maduro came to power in April 2013, it was
at 24 per dollar.
[[ El embargo y bloqueo
financiero y comercial contra VEN busca asfixiar económicamente el
Estado-Nation y entes de Gbno. Fue lo que inicio Bush, continuo Obama y hoy
Trump. Todos apuntaron a la apropiación del petróleo ajeno, a partir del cambio
de regimen.
Como operan los embargos y bloqueos
financ y comerciales?. Las calificadoras
de riesgo del imperio declaran en default (no pago de deudas e intereses acumulados a Bancos imperiales y a especuladores tipo Soros) a un Estado-Nation, a
una empresa o un personaje de Gbno y proceden a bloquear e incautarle depósitos
bancarios, bienes y servicios mediante Bancos, e instituciones como la OEA, el
IMF, WTO, y otras bajo control imperial. Asi es como opera el embargo, bloqueo
y pillaje conocido como “piracy”. Eso fue lo que aplicaron a VEN desde los
tiempos de Chavez.
Todo empieza cuando se declara a un Gbno en
riesgo de default como ocurrió con Allende 1ro y luego con Chavez. Asi preparan el
terrreno psicológico para “el cambio de régimen”. Se busca evitar inversión extranjera en el
país, generar neurosis en los tenedores de bonos, etc.
“País que caiga en default, es
país al que le congelan sus activos líquidos financieros en bancos, fondos de
inversión o sectores económicos de países que invirtieron en él.” Ese es el significado del bloqueo que ha sufrido VEN durante 18 años.
Esta guerra económica del imperio fue impuesta
a través de agencias internas; esto es, de trasnacionales USA como Procter
& Gamble, SC Johnson & Son, Productos Roche, Cargill y otras. Confiscar
a estas empresas y decretar la deuda zero solo es posible si se declara una REV
social interna, lo que requiere apoyo RU y Chino y apoyo de otros paises de
Latino America. ]]
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WORLD ISSUES and ME
Global depression is
on…China, RU, Iran search for State socialis+K- compet. D rest in limbo
Who stands to lose -
and win - if the U.S. takes aim at its unbalanced trade with China
relationship? With total trade of more than half a
trillion dollars a year, the list of potential U.S. losers is very long...
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Russian PM: "The U.S. Just Declared Full-Scale Trade War On Russia"
"The signing of new sanctions against Russia into law by the US
president leads to several consequences. First,
any hope of improving our relations with the new US administration is over. Second,
the US just declared a full-fledged trade war on
Russia. Third, the Trump administration
demonstrated it is utterly powerless, and in the most humiliating manner
transferred executive powers to Congress."
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“We are back to square one... We have not progressed an inch... It seems
that they are not budging and are
escalating,”
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GLOBAL RESEARCH
Global Econ-Pol
crisis leads to more business-wars:
profiteers US-NATO under screen
Trump’s
Choices. Russian Military has Concluded that Washington is preparing a surprise
Nuclear Attack on Russia By Dr. Paul Craig
Roberts,
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Extraordinary
CIA Renditions and Arbitrary Detentions, Far Beyond the “War on Terrorism” By Prof.
Marcello Ferrada
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INFORMATION CLEARING HOUSE
Deep on the US
political crisis, their internal conflicts n chances of WW3
Germany, “Up in Arms” Against Washington’s
Sanctions Regime By Peter
Koenig
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Washington Pushes Harder Against Russia By Paul Craig Roberts
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Imperial Folly Brings Russia and Germany
Together By Pepe Escobar
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Shall We Fight Them All? By Patrick Buchanan what is sufficient
to satiate our War Party
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What Main Media Got Wrong About Vene's Const
Assem Vote By Carla Gonzalez
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COUNTER PUNCH
John W. Whitehead The
People are Not the Enemy: Police Anarchy in America
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Robert Fantina Kakistocracy
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Thomas Knapp US
Foreign Military Bases Aren’t for “Defense”
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M. Reza Behnam The
Israelization of the Middle East Quagmire
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SPUTNIK and RT SHOWS
The nasty business of
US-NATO-Global-wars uncovered .. pro RU view
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He wants more violence in VEN .. How much is being invested
in mercenaries?
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Who cares about OAS?.. el chiquero
del imperio
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RT SHOWS
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NOTICIAS IN SPANISH
Latino America fight
to break with collapsing Empire: leftist
view on alternatives
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PRESS TV
Global situation described by Iranian
observers.. Titles distorted n incomplete sentences
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