MAY 10 18 SIT EC y POL P1
ND denounce Global-neoliberal debacle y propone State-Social
+ Capit-compet in Econ
ZERO HEDGE ECONOMICS
Neoliberal globalization is over. Financiers know it, they
documented with graphics
Thanks to central banks' collusion, "we have
built up corporate debt and the markets to such great highs that the potential for a fall would be at an
unprecedented level..."
Read her conclusion:
At the very least, we could have an independent audit of these central
banks to allow voters and leaders to better understand where their money goes
and what is used for.
We should also call out and alter the austerity measures enacted throughout the world
that are punitive to people, while in the backdrop so much money has
been conjured to help the banks and financial system.
By doing so we could potentially
shift central banks’ roles as well as private banks’ incentives to building long-term infrastructure and to financing small and local
businesses. In this way, we could assist the less wealthy and enable upward
mobility for all.
Globally,
the $21 trillion conjured by these central banks that still remains, if diverted into the foundational — or real — economy could provide
regular citizens of the world (to whom I dedicate my new book) a fighting
chance.
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What, me
worry?
See Chart:
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SOURCE:
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Centralization of Capital among big Corp continue.. to cope
with debacle of neolib system
Apple and
Goldman are set to launch a new joint credit card, a move that would deepen the
technology giant’s push into its customers’ wallets and mark Goldman's first
foray into plastic.
Read final statement
Of course, what matters to Goldman
is scale which the bank can not achieve at the revolving credit level, so the
partnership will extend into other services including Goldman offering in-store loans to Apple customers buying
iPhones and other gadgets.
Translated: the next time you want
to buy an iPhone, a cheerful, minimum-wage Goldman employee will offer you a
generous $100,000 loan, which just happens to reset into a generous 14.95% APR
6 months after funding...
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"This is not a time
to be rewarded for long market
exposure...[It’s a good time for us to] have more balance on the short side..."
See Chart:
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Lo que el
viento neoliberal en su caida.. se
va llevando
1-
And just
like that the market has priced out any hopes of further rate hikes by the BOE
for this year.
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2-
After a
barrage of overnight market and geopolitical news, US futures are flat as
traders look for the next major catalyst, today's CPI report.
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Adornar la
debacle neol con la florcita ‘creative destruc’ no logra ocultar la fea realidad
When the
market welcomes a bank being fined $4.9 bln, that’s a good thing… ??? Or
when headlines speak of “Berlusconi green lighting an Italian populist
government”, the market doesn’t panic more? What about Malaysia – and what we
thought we knew it this morning.
Let’s start today with some numbers:
- Before Lehman’s collapse in 2008 the size of the US Corporate Bond market was US$2.8 trillion, and bond dealers kept inventory of around US$ 260bn. Today the US bond market is over $5.3 trillion, and dealer inventory is less than $40 bln. 10% liquidity wallet then, 0.7% now. Issuance in 2017 was over $1.7 trillion as corporates binged on cheap money. Hmm.
- Corporate Bond ETFs have risen from $20 bln to over $300 bln over the same period.
- The junk market has been pretty stable at around $300 bln issuance per annum, but as much cash for the weakest companies is now being raised through the leveraged loan – where much of it is packaged into CLOs.
Much of the issuance has come from the telecoms sector – to
quote y’day’s WSJ:
“Dish,
founded by satellite tycoon Charlie Ergen, may be the Canary in the Coal Mine
of the new tech landscape.” Junk bond investors have lent his companies more
than $20 bln over the past 25 years.” Sure enough – the prices of Dish Bonds are down 26% since their peak!
But, there is something else at play – “the industry’s rapid evolution
is outpacing Mr Ergen’s business strategy..” said the WSJ.
Much of the
growth of recent years has been driven by innovation and disruption, especially
in anything tech related. Think about the rise of Facebook, Uber,
Amazon, Netflix and even Tesla; it’s clear they caused dramatic paradigm
shifts, creating whole new industries and sectors.
In short,
a great tsunami of “Creative Destruction” has already been unleased upon the
global economy. I doubt the world has ever experienced such rapid
business evolution. Dish is just one example – it thrived, it evolved, but now
its struggling to keep up and develop/protect its niche. Who is next? Take
a look at another WSJ story for further clues.
What about Facebook? At some
point (maybe soon) everyone who wants to be on will be on, and the folk
Facebook want aren’t interested – Millennials only use
it to communicate with the Bank of Mum and Dad.
Or how about Amazon –
fascinating to watch retail behemoth Walmark pounce on the largest Indian net
based seller. And, aside from the obvious financial
problems, Tesla aint going to be the only exciting electric carmaker.
I guess the history lesson here is, like
the railways, nothing lasts forever… and the pace of change is quickening.
[[ BETTER LESSON: this train
is going to a cliff .. As soon it slow.. jump out & get the opposite train.
It is true: nothing lasts forever. This empire is going to collapse soon. It has
destroyed entire State-Nations and kill millions of people. If you do not jump
out you will paid for it. Do it: the new Nurerember trial won’t pardon the profiteers of such human
disaster .. If the trial is not installed, it will be worse.. you won’t have US
Embassies to hide in .. the chaotic REV will burned … together with all US
companies abroad. Wake up.. don’t sleep in the American train.. BE READY TO JUMP OUT! ]]
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US DOMESTIC POLITICS
Seudo democ y sist
duopolico in US is obsolete; it’s
full of frauds & corruption. Urge cambiarlo
Read this stupidity .. you gona laugh or get angry.. You may
wonder what facebook is useful for?
One of the
ads expresses support for Russian President Vladimir Putin's favorite athlete,
Colin Kaepernick...
[
A los bellacos del senado les pagan para
alimentar su RUSO-fobia .. para NOS eso huele a podrido ]]
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CA could’ ve used his electricity to build a coalition of
independent states. They still can do it
"Half of U.S. solar is installed in California, so it's not at all
clear to me you needed the mandate. We're actually paying other states to take our electricity during
daylight hours."
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US-WAR ISSUES :
M-East .. plus
Global depression is on…China, RU, Iran search for State
socialis+K- compet. D rest in limbo
Some 28
Israeli aircraft fired around 60 air-to-surface missiles
at Syria
during the exchange.
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"It’s
no longer the case that the United States will simply just protect us. Rather,
Europe needs to take its fate into its own hands, that's the task of the
future,"
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President
Donald Trump and the First Lady greeted three American prisoners freed from
North Korea early Thursday morning when they arrived at Joint Base Andrews in
Maryland.
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"The highly anticipated meeting between Kim Jong Un and myself
will take place in Singapore on June 12th. We will both try to make it a very special moment for World Peace!"
[[ For Kim: what is the point
of having this meeting? Peace?.. Does he
really believe that Trump will abandon war-plans (the big-US-Corp-Business)
because of the bla-bla with Kim? .. The western media won’t say nothing good on
Kim.. perhaps saying that Kim was the idiot who suggest the Nobel prize of
Peace to Trump.. Perhaps such idiocy
will be swallow if Kim demand not only Thadds out of Korea, but also the dismantle
of nuclear weapons at world level & assap.
Then kim will be a Peace leader.]]
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"You love your credit
cards, right? Handy and easy, you just whip it out and purchase whatever
you want. No cash; no hassle. And everyone makes it so easy for you... Before you bask in all this convenience,
consider just who is gaining from this war on cash. "
Read the final statements:
Cash in hand has always represented freedom, and
that is now being eroded at an alarming rate. Private, legal transactions will become illegal or
impossible in a cashless society when every financial transaction is being
monitored and scrutinized.
Without cash, people become purely dependent on big banks. What happens when the banks fail? During times of
crisis, banks could shut their doors and prevent depositors from
accessing their money. The lack of genuine cash shifts the power from the
individual to corporations and government authorities.
If we are relinquishing
freedom and power for the convenience of cashless transactions, perhaps we need
to consider who is on the receiving end. Banks
and governments are amassing the ultimate power by gradually removing the last
vestige of freedom – cash. Those who are ready to give
up their cash will surely pay the price.
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Interesting intersection between geo-politics and Geo-economics
Meanwhile,
Goldman is confused why the "complacent" market reaction isn't far
more violent...
To be sure, markets reflected this
new risk and on Thursday, Italy's 10Y bond yield jumped as much as 1.95% before
retracing modestly.
See Charts:
Italian stocks likewise sank on the news, with Italy's FTSE
MIB the worst performing market in Europe today.
See Chart:
On Thursday morning Goldman also
noticed, and in a note by the firm's European analyst Sylvia Ardagna, Goldman
writes that "Italy's
political risk increases, and yet the markets remain complacent"
The market reaction has remained
remarkably muted. We think the market is complacent in pricing political risk
in Italy. In our opinion, a Five Star – Lega government remains the outcome
that would likely be viewed as the most negative by the market.
See Chart:
Goldman adds that if the Five Star – Lega attempt
to form a government succeeds, "this coalition
will have been the least expected outcome going into the the elections. But, in our opinion, this was and remains the
outcome that would likely be viewed as the most negative by the market."
See Chart:
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Good Qt to our ex-allied: They do not have super delegates
nor super packs to pay for it
Once again,
in Turkey, who votes for whom
will matter less than who counts the vote...
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SPUTNIK and RT SHOWS
US inside GEO-POL n GEO-ECO ..News
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Top 5 Things to Know About Returning
Malaysian PM Mahathir Mohamad 92/y.o: Ala d gallo Viejo
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El cromosoma islámico dejo de funcionar.. esta debilitado? Es este un adiós a los
super-machos?
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RT SHOWS
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Keiser Report Episode
1225 Max
and Stacy discuss the baby brains’ in the cryptocurrency markets. In the 2nd
half Max continues his interview with Michael Krieger about social media
surveillance
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