OCT 1 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
Global context:
“How can one rationalize such investor behavior?”
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"As a measure of market fear, it was quite useful, until it became
something that could be traded. "The sheer size of outstanding positions in
VIX futures, VIX options, ETFs, ETNs and bank volatility selling programs is
such that those trading these markets can no longer separate the true measure
of volatility from their own actions."
…
The VIX index
measures the expected volatility of the S&P 500, and is calculated by
multiplying expected 30-day variance by 100.
As a measure of market fear, it
was quite useful, until it became something that could be traded. “The sheer
size of outstanding positions in VIX futures, VIX options, ETFs, ETNs and bank
volatility selling programs is such that those trading these markets can no
longer separate the true measure of volatility from their own actions.”
Or, said simpler, "low
volatility" is no longer a description of a market state,
rather it is a characterization of the one, and perhaps only, trade strategy
that has the explicit blessing of central banks, who themselves do everything
in their power to crush volatility as Deutsche
Bank's Aleksandar Kocic explained yesterday in
his latest observations of a market in which
"shocks no longer shock."
It is also why
average September vol was the lowest on record,
and will continue to fall until a "tipping point" hits.
It is also why, as Barclays
pointed out last week, as absolute national Vega across levered and
inverse ETFs reached an all time high...
... the AUM in inverse VIX ETPs has soared over the past few
months and is now in line with long vol ETPs, a situation which has previously
occurred only twice since 2009
…
Continue reading at: http://www.zerohedge.com/news/2017-10-01/eric-peters-and-tipping-points-it-all-worked-incredibly-well-it-should-until-it-blew
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The internal context is scary:
"We
think people can spend 35–40 years working and saving, then stop working and go
on for another 20–30–40 years at the same comfort level – but with a growing
percentage of retirees and a shrinking number of workers paying into the
system. I’m sorry, but that’s magical thinking."
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It's
like "dancing on the rim of a volcano. If there is a sudden eruption
(of volatility) you get badly burned."
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"There's very little reward, and there's a
heck of a lot of risk...If you
have to work for a living, get out of the casino
because it's a dangerous place."
Or open the web source: http://www.zerohedge.com/news/2017-10-01/tax-reform-pipe-dream-stockman-warns-market-heading-massive-crash
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"...larger institutions suffer from a fatal lack of profitability that
ultimately dooms them to commit fraud and, eventually,
suffer a catastrophic systemic risk event... The only thing worse than 'excessive' leverage is
'excessive off balance sheet' leverage..."
…
For some time now, we have been
concerned that the FOMC’s overt manipulation of credit spreads has embedded
future credit losses on the balance sheets of US banks. But
now we are starting to see even greater signs of stress as the large Wall
Street banks again return to derivatives in order to manufacture the appearance
of profitability.
In the case both of Citi and JPM,
just half of the banks’ operating business comes from lending, while the
remainder comes from risk bearing investments and trading.
With some $50 trillion in off-balance sheet (OBS) derivatives, which is almost
six standard deviations above the $1.8 trillion peer average for large banks,
Citi and JPM are now the outliers on Wall Street in terms of derivatives
exposure. A move of 30bp in the OBS derivatives book of either bank would wipe
out their capital. The chart below shows
the OBS derivatives exposure of Citi, JPM, GS and the other major banks.
Notice that all three of the leading derivatives dealers
have been increasing exposures since last year.
So ask not whether
President Donald Trump should reappoint Janet Yellen to another term as Fed
Chair. Rather, ask yourself why Yellen wants to stick around Washington
at all given the accumulation of risk inside the major US banks as a result of
the FOMC’s manipulation of credit spreads. The combination of
a lack of profitability and a huge derivatives book makes another financial
collapse increasingly likely despite the apparent solidity of the US banking
system.
…
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"...last year, Italy was the only
OECD country which had a lower participation rate of prime age men than the
United States..."
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"Janet Yellen will tell you we're never going to have a bear
market again because
she's smarter than the markets... the next bear market will be horrendous, the worst in your lifetime, in your
financial experience. ... a lot
of people are going to find that, oh my God, I
own an ETF and they collapsed. It went down more than anything else..."
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POLITICS
La seudo democ y sist duopolico es obsoleto por fraudulento y
corrupto. Urge cambiarlo
"In America Government is not in the
hands of its people... Oligarchic rule prevails regardless of electoral
outcomes... Without jobs,
dependent on their masters for trickle-down benefits that are always subject to
being cut, and without voice or representation, Americans, except for the One Percent, are becoming the most enslaved
people in history."
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Previously unreported Pentagon data shows how
much the average U.S. taxpayer has paid for combat operations in Afghanistan,
Iraq, and now Syria.
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WORLD ISSUES and M-East
Global depression is
on…China, RU, Iran search for State socialis+K- compet. D rest in limbo
"...with this day of hope and suffering,
the citizens of Catalonia have won the right to an independent state..."
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El reparto de “zanahoria y garrote” no funciona. Lo único que
hay es paranoia esquizoide
"I told Rex Tillerson, our wonderful Secretary
of State, that he is wasting his time trying to negotiate with Little Rocket
Man... Save your energy Rex, we'll do what has to be done!"
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GLOBAL RESEARCH
Global Econ-Pol
crisis leads to more business-wars:
profiteers US-NATO under screen
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The
“Russian Influence” Stories Promote Russia’s Might – Is Putin Paying for Them? By Moon of Alabama
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The
Syrian Outcome Has Departed from Washington’s “Foreign Policy Script”. ISIS
“Terrorists” are US-NATO Mercenaries By Dr. Paul Craig
Roberts
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SPUTNIK and RT SHOWS
The nasty business of
US-NATO-Global-wars uncovered .. pro RU view
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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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Cataluña 'ya votó', ¿y ahora qué? Brics VS. eu
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Keiser Report El enigma de la débil inflación
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PRESS TV
Global situation
described by Iranian observers.. Titles distorted n incomplete sentences
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