JUN
7 18 SIT EC y POL
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
"With rates now at
extensions only seen in 7 periods previously, there is little room left
for further acceleration in rates before such a negative outcome spawns."
On
Tuesday, I discussed the issue of what has historically happened to
the financial markets when both the dollar and rates are rising simultaneously.
To wit:
“With the 10-year treasury rate now extremely overbought on a monthly
basis, combined with a stronger dollar, the impact historically has not been
kind to stock market investors. While it doesn’t mean the market will
“crash” today, or even next week, historically rising interest rates
combined with a rising dollar has previously led to unexpected and unintended
consequences previously.”
See Chart:
As I noted
previously, FASB Rule 157 was repealed during
the financial crisis to allow banks to mark bad assets to “face value” making
balance sheets stronger than they appear. This served the purpose of reducing
panic in the system, supported “Too Big To Fail” banks, and
kept many banks in operation. But if banks are once again so well capitalized,
leverage reduced and the economy firing on all cylinders – why is that repeal
still in place today? And, if the financial system and economic environment are
so strong, then why are Central Banks globally still utilizing “emergency
measures” to support their economies?
Likely it is because economic growth remains tepid and banks
are once again heavily leveraged as noted by Zero
Hedge:
“It is by now well known that consolidated
leverage in the system is at an all-time high, with both
the IMF and the IIF calculating
in April that total global debt has hit a new
all-time high of $237 trillion, up $70 trillion in the past decade, and
equivalent to a record 382% of developed and 210% of emerging market GDP.”
See Chart:
https://www.zerohedge.com/sites/default/files/inline-images/total-debt-iif-q4-2017.png?itok=wIwzJfU8
The chart below compares total non-financial corporate debt
to GDP to the 2-year annual rate of change for the 10-year Treasury. As you can see sharply increasing rates have typically
preceded either market or economic events. Of course, it is during those events
which loan default rates rise, and leverage is reduced, generally not in the
most “market-friendly” way.
See Chart:
This leverage issue is more clearly revealed when we look at
non-financial corporate debt and assets as a percentage of the gross-value
added (GVA). Again, as above, rising rates have
historically sparked a rapid reversion in this ratio which has generally
coincided with the onset of a recession.
See Chart:
…
See more interesting Charts at:
….
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"What
you are getting is a stimulus at the very wrong moment. The stimulus is going
to hit the economy in a big way this year and next year, and then in 2020 Wile
E. Coyote is going to go off the cliff and it's going to look down."
Bernanke, the same man who once charged
a room full of bankers $250,000 for the sage projection that interest
rates would never normalize during his lifetime, now believes the US
economy, which
in May entered the second-longest period of expansion in modern
history...
See Chart:
The irony here is delightful: after all it was Ben Bernanke
who consistently blamed Congress for not doing enough to jumpstart the economy
during his time in office - a core topic of his 2015 memoir "The
Courage to Act: A Memoir of a Crisis and Its Aftermath"; it is the
same Bernanke who three years later is now blaming the President and Congress
for doing too much. Here is the NYT
on the very topic:
Congress is
largely responsible for the incomplete recovery from the 2008 financial crisis,
Ben S. Bernanke, the former Federal Reserve chairman, writes in a memoir
published on Monday.
Mr. Bernanke, who left the Fed in January 2014 after
eight years as chairman, says the Fed’s response to the crisis was bold and
effective but insufficient.
“I often said
that monetary policy was not a panacea — we needed Congress to do its part,” he
says. “After the crisis calmed, that help was not forthcoming.”
Said otherwise, unlike his successor
Janet Yellen, who famously said after leaving office that she believes there
won't be another
financial crisis in her lifetime, Bernanke
just predicted that the entire economy will nosedive in just two short years -
far less than the 10 years of additional uninterrupted expansion recently
forecast by the CBO.
See Chart:
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US
DOMESTIC POLITICS
Seudo democ y sist
duopolico in US is obsolete; it’s
full of frauds & corruption. Urge cambiarlo
The
measure, introduced as an amendment to the National Defense Authorization
Act, will
see its fate decided next week...
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[[ The whole privatization of the Health System is unconstitutional ]]
In a letter to House Speaker Ryan,
Attorney General Jeff Sessions affirmed that the Justice Dept will no
longer defend the constitutionality of Obamacare.
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Regardless
of your background, socioeconomic status, or political spectrum, everything you
do, say, and think is being subtly shaped by a “Deep State.” But the shadow
organization I’m talking about isn’t the Alt-Right or Globalist Left.
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Of the
nation’s top 50 largest residential real estate markets, 52% were overvalued in
April (home
prices are at least 10 percent higher than the long-term, sustainable level)...
CoreLogic’s methodology behind overvalued housing
markets “as one in which home prices are at least 10
percent higher than the long-term, sustainable level, while an undervalued
housing market is one in which home prices are at least 10 percent below the
sustainable level.”
See Charts:
“Affordability” must increase
ASAP or housing is in big trouble up here. It will happen, but not thru a
wholesale credit easing like 2003. (Source: @MrMarkHanson)
Home Price
to Income Ratio Near 2008 Bubble Levels
See Chart:
…
SOURCE: https://www.zerohedge.com/news/2018-06-06/more-half-american-homes-are-overvalued-corelogic-warns
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RELATED
In the first quarter of 2018, household net worth rose by a
trillion dollars, rising above $100 trillion for the first time ever, as the
stock market soared to new all time highs, and home prices hit new records. But the reality is that there is a big catch...
See Chart:
In the CBO's latest, if somewhat dated, TRENDS IN FAMILY WEALTH analysis
published in 2016, the budget office showed a breakdown
of the net worth chart by wealth group, which sadly shows how the "average" American wealth is anything
but, and in reality most of that $100 trillion belongs to just 10% of the US
population.
See Chart:
…
See more INTERESTING charts at:
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MORE CIRCUS.. least bread for the poor
DOJ
Inspector General Michael Horowitz said that his office will release the highly
anticipated report detailing broad misconduct by FBI and DOJ officials on June
14 with a potentially explosive hearing to follow on June 18.
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US-WW ISSUES (World & War): M-East .. plus
Global depression is on…China, RU, Iran search for State socialis+K-
compet. D rest in limbo
"Prime
Minister Trudeau doesn’t bring up the fact that they charge us up to 300% on
dairy — hurting our Farmers, killing our Agriculture!"
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[[
Luego viene el ajuste
de cinturones para el pueblo..]]
The IMF has
bailed out Argentina - again - this time with a $50 billion, 36-month stand-by
loan, and coming in $10 billion more than rumored earlier in the week, it was
the largest ever bailout loan in IMF history
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[[
Too much hidden.. so far ]]
Parolin's attendance marks the
first time a high-ranking Vatican official has taken part in the conferences...
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SPUTNIK and RT SHOWS
US inside GEO-POL n GEO-ECO ..News
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FIFA has launched its own investigation into the matter,
as organization guidelines state that officials are prohibited
from taking any gifts. However, Nyantakyi is currently still a FIFA
Council member.
[ This could be another US intention to
sabotage FIFA W-C 2918.. US control Ghana & Kenya Govts ]
RELATED:
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The new French-Canadian defense initiatives, seem to be more connected with Paris’ economic interests
in promoting sales of its military equipment to Ottawa, experts told Sputnik on
Thursday.
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Trump said in a press briefing on Thursday that
the letter he received from North Korean leader Kim Jong-un contained only
a greeting, but a nice one that was greatly appreciated. [He expected submit]
RELATED 1:
RELATED 2:
[[ SO: nothing will be
changed with this Summit .. Possible cancelation at the last minute ]
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RT SHOWS
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Keiser Report Episode
1237 Max
and Stacy discuss the vicious ‘Medici cycle’ taking hold in
the US. In 2nd half Max interviews Dr.
Michael Hudson of michael-hudson.com about
Aristocracy 2.0 in America,
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NOTICIAS IN SPANISH
Latino America looking for alternatives to neoliberalism to
break with Empire:
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COUNTER PUNCH
Focus on US issues
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Jo Simmons North
America’s Healthcare Sham
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Michael
McCaffrey Trump as
Deadpool
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GLOBAL RESEARCH
Geopolitics & Econ-Pol crisis that leads to more
business-wars: its profiteers US-NATO
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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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PRESS TV
Global situation described by Iranian observers..
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