DEC 25 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
"When spreads are at historical tights, no news is probably the best
news one can realistically hope for." - Citi
As
illustrated in Figure 1, just about every other major investor type has become
a net seller (to the ECB) or a non-buyer of BTPs over the last couple of years. To change that behaviour,
we think it remains pretty likely that there will need to be an adjustment in
prices. As our rates strategists have pointed out, the ECB could counteract
this through an “Italian Operation Twist” (lengthening the maturity of their
BTP holdings), but such a response might not come
immediately, given the ECB’s reluctance to favour individual countries,
unless associated with the conditionality that comes with an economic
adjustment programme.
To our
minds, this remains one of the most significant political risks to € credit in
2018. Most likely the spillover on credit would be concentrated on Italian and
other periphery names, banks in particular. The scenario of a full-on funding crisis is a
much lower probability in our view, but would obviously have more systemic
implications across the € credit market.
When
spreads are at historical tights, no news is probably the best news one can
realistically hope for.
….
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"Once you cut through the calculus and graphs, his conclusion is
clear: though Christmas generates a $50
billion gift-giving industry, a tenth to a third of that is sheer loss. Why? Because the recipient doesn’t always
get what he wants. Given the chance, the
recipient would have purchased something else."
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"In the lunatic asylum of the current economic model, media anchors sport grins of delirious joy when reporting increases in
holiday spending... Wasting resources, capital and income on stuff nobody really needs is
a monumental disaster on multiple fronts. "
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"Does truth still matter... Short term gain, long term pain, but the architects of this construct will be
long gone enjoying their gains..."
2017 will go down in history as a year where billionaire-market-speculators
got everything beyond their wildest imagination:
The most liquidity injections by central banks ever (Over $2 trillion).. the loosest financial conditions in
cycle history:
A Fed that
promised a reduction in its balance sheet but actually only delivered noise:
In
addition markets got to enjoy solid earnings growth coming from weakness in the
years before. Never mind that most of the price expansion was multiple
expansion related:
See Image at: https://i1.wp.com/northmantrader.com/wp-content/uploads/2017/12/GAAP-1.png?resize=552%2C328&ssl=1
Other factors favoring asset prices: Negative
interest rates across the globe continued to force money into high risk assets
(“pushing people“). Central
banks such as the SNB kept buying billions of dollars of US stocks. Record
inflows of passive ETF inflows chasing returns they can’t find elsewhere. The elimination
of organic sellers as part of a normally functioning market place. Buybacks,
while not at a record pace, still continuing with billions upon billions of
dollars allocated to reduce the float of shares. None
of it related to organic growth.
And hence the disconnect of asset valuations from the underlying
economy is now larger than during previous market peaks:
See image at: https://i2.wp.com/northmantrader.com/wp-content/uploads/2017/12/Assetsgdp.jpg?resize=450%2C296&ssl=1
Stock prices are now a matter of national security. The Fed views a sudden decline in asset prices as a threat to
the economy and the president sees stock market levels, the poster child of
widening wealth inequality in the population, as a benchmark of his presidency: See
image at: https://i0.wp.com/northmantrader.com/wp-content/uploads/2017/12/stocks.jpeg?resize=316%2C220&ssl=1
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"A more human world lies just beyond the edge of the Status Quo...
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POLITICS
La seudo democ y sist duopolico es obsoleto por fraudulento y
corrupto. Urge cambiarlo
"...no one should be too surprised that those who spend their
lives defending and expanding the welfare-warfare state engage in immoral
personal conduct..."
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Even though the stock
market continues to set new record high after new record
high, poverty is exploding all over America...
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"As we enter
into 2018, Western civilization, the product of thousands of years of striving,
is in decline. Degeneracy is
everywhere before our eyes as the West sinks
into tyranny, will Western peoples defend their
liberty and their souls, or will they
sink into the tyranny,
which again has raised its ugly and all devouring
head?"
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AL CAPONE policy should be stopped..
What if US get out of UN & US apparatus inside dismantle
"We
will no longer let the generosity of
the American people be taken advantage of or remain unchecked"
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DEMOCRACY
NOW
US politics crisis: Trump
captured by Deep state to reproduce old cronyism without alter-plan
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GLOBAL
RESEARCH
Global Econ-Pol crisis leads to
more business-wars: profiteers US-NATO
under screen
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SPUTNIK
and RT SHOWS
The nasty business of
US-NATO-Global-wars uncovered ..
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NOTICIAS
IN SPANISH
Latino America fight to break
with collapsing Empire: leftist view on
alternatives
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USA --Trece años preso en Guantánamo sin acusación
USA --Trece años preso en Guantánamo sin acusación
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Keiser Report Pensamiento
ilusorio
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PRESS
TV
Global situation described by
Iranian observers.. Titles distorted n incomplete sentences
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