Fri
AUG 24 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
China "unleashed hell" on
the shorts with its promise that banks would resume a “counter-cyclical” factor
when calculating the yuan’s daily reference rate, restraining the influence of
market forces that have been driving the currency lower versus the greenback.
Sending offshore yuan soaring by the
most since Jan 2016...
See Chart:
Catching up with, and then leading,
US equity futures...
See Chart:
And as Yuan soared, the dollar
dumped...
See Chart:
Helping send gold back above $1200..
To its best week since March..
See Chart:
Bonds and stocks were both manically
bid this week - and especially today...
See Chart:
Treasury yields were mixed on the
week with the short-end offered and long-end well bid.
30Y Yield tumbled back below
3.00%... (lowest yield close since July 19th)
See Chart:
And finally... Record high
S&P500 with 11-Month Low US Macro
See Chart:
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The last
few months have seen adramatic
divergence between the 'comfort' of the haves and the have-notes.
The last few months have seen a dramatic divergence between the 'comfort' of the haves and the have-notes.
As Bloomberg notes, higher-income
Americans are pulling ahead of those making less, and their moods reflect it.
See Chart:
As the chart above shows, people making more than $50,000 a year were
the most upbeat since 2001, lifting their confidence index to 76.8, according
to the Bloomberg Consumer Comfort survey this week.
However, the gauge for those earning
less than $50,000 annually fell to a five-month low of 39.4, putting the sentiment gap at 37.4 points, the
widest on record.
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RELATED:
An
alarming 52.1% of young Americans grow
up in homes collecting some form of taxpayer-funded largesse.
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"While the stock market could indeed be in
the most extended bull market in history, there are new, troubling signs that the real economy is faltering."
See Info-Graphic:
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These charts reflect a linear system that is wobbling into the first stages of non-linear
destabilization...
Here's debt to GDP. Yes, the economy expanded, but debt expanded much faster.
Every additional dollar of GDP now requires multiple dollars of new debt.
See Chart:
The tiny
pause in borrowing circa 2008-09 almost collapsed the global financial system. If this is your idea of a stable, sustainable
trajectory, what are you high on?
See Chart:
This chart
of federal debt is outdated-- federal debt has
far exceeded $20 trillion. A trillion here and a trillion there, pretty soon
you're talking debt levels that insure a devaluation of the currency or a
collapse of the entire-debt-dependent system.
See Chart:
Corporations
have been gorging on low-cost debt to fund stock buybacks, which push share
prices higher, rewarding insiders and the
already-wealthy who own the majority of financial assets.
See Chart:
Speaking
of insanely destabilizing and unsustainable trajectories--take a look at wealth
inequality: the top 1% (actually, the top
.5%) have skimmed the vast majority of the past decade's gains, the top 5% have
gathered most of the remaining crumbs, the next 15% (between 80% and 95%) have
illusory gains solely based on bubble valuations, and the bottom 80% have lost
ground.
See Chart:
Anyone who thinks
exponentially rising debt and staggering wealth/income inequality are stable
and sustainable is taking way too much Ibogaine. Magical thinking
doesn't actually change reality or make the unsustainable sustainable.
These
charts reflect a linear system that is wobbling into the first stages of
non-linear destabilization. What is
unsustainable and unstable will destabilize, slowly at first, and then rapidly
as all the buffers creating the illusion of stability give way.
Our "wealth" is as illusory as the fantasy that
ever-expanding trillions of dollars can be borrowed annually for decades to
come, with no consequence.
The system
collapses if we trim borrowing, and it collapses if we keep borrowing more
every year. There is no middle ground, no
Goldilocks state where we can borrow just enough to squeak by. That
appears possible in a linear system, but once it shifts into non-linear
dynamics, that fantasy will quickly be destroyed.
* * *
My new book Money
and Work Unchained is now $6.95 for the Kindle ebook and $15 for the
print edition. Read
the first section for free in PDF format. If you found value in
this content, please join me in seeking solutions by becoming a $1/month patron of
my work via patreon.com.
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Delinquencies soar past Financial-Crisis peak at the ca. 5,000 smaller US banks, and these are the Good Times. What’s
going on?
See Chart: Credit Card Delinquency
Rate
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“The trick of successful investors is
to sell when they want to,
not when they have to...”
Here your weekend reading list.
Economy
& Fed
- Student Loans Are Starting To Bite The Economy by Danielle DiMartino-Booth via Bloomberg
- Jackson Hole Guards The Secrets Of The Temple by Caroline Baum via MarketWatch
- US Overdue For Another Economic Disaster by George Will via National Review
- Deficits Are Putting American On Path Fiscal Ruin by Stan Collender via USA Today
- CBO’s Long-Term View Is Dire by Maya McGuinness via CNN
- Will Is Wrong About The Economy by David Bahnsen via National Review
- Why Prosperity Has Increased, But Not Happiness by Jonathan Rauch via NYT
- Bostic Throws Down The Gauntlet by Tim Duy via Fed Watch
- The Fed Is About To Make A Mistake by Jim Bianco and Ben Breitholtz via Bloomberg
- Fed Concerned About Downside Risk Of Tariffs by Mike “Mish” Shedlock via TheMaven
- The US Economy And Mid-Term Elections by Michael Boskin via Project Syndicate
- An Even Bigger China Shock by Scott Sumner via The Hill
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Markets
- US Bank Profits Hit Record Of $60 Billion In Q2 by Tyler Durden via Zerohedge
- The Bull Market That Wouldn’t Die by IBD
- Timing The Stock Market Is Tough, Or Is It? by Shawn Langlois via MarketWatch
- Global Liquidity Is Drying Up by Colby Smith via FT
- Historic Bull Market Could Run Another Year by Howard Gold via MarketWatch
- New High In Stocks Brings Warning by Dana Lyons via The Lyons Share
- A Brief History Of Bull Markets by Peter Eavis via NYT
- Recession Signals From The Bond Market by Simon Constable via Forbes
- Your Bull Market Debate Is Dumb by Cullen Roche via PragCap
- DB: Don’t Expect Emerging Markets To Outperform by Ryan Vlastelica via MarketWatch
- The Markets Latest Sell Signal Only Happened 5 Other Times by Mark Hulbert via MarketWatch
- How Does This Bull Market End? by Gillian White via The Atlantic
- Negative Bets Against Gold Could Be Tipping Point by Patti Domm via CNBC
- Fowl Plays In Emerging Markets by Macromon via Global Macro Monitor
- Best Stock Strategy Is To Just Stay Home by Ed Yardeni via MarketWatch
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Most Read
On RIA
- Longest Bull Market In History & What Happens Next by Lance Roberts
- The Weaponization Of The Dollar by Michael Lebowitz
- Trump & The Cons Of 6-Month Reporting by Doug Kass
- Markets Are Waiving A Huge Red Flag by Lance Roberts
- Why Your Credit Score Just Improved by John Coumarianos
- Cliff Asness On Buybacks by John Coumarianos
- Dont’ Fear The Yield Curve? by Lance Roberts
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Research /
Interesting Reads
- My New “Fed Hawkishness-O-Meter” by Wolf Richter via Wolf Street
- Turkey Tariffs Hurt EM And US Economies by Patrick Hill via The Progressive Ensign
- 10-Reasons It’s Hard To Be An Intelligent Investor by Justin Carbonneau via Validea.com
- China’s Railways Are Leading To High-Speed Debt by Tom Mitchell via Ozy.com
- Passive Investing Would Have Confounded Adam Smith by Merryn Webb via MoneyWeek
- Housing Is Back, The Dream Isn’t by Noah Smith via Bloomberg
- Paul Singer: Doomsday Investor by Sheelah Kolhatkar via The New Yorker
- 15-Companies Investing In Tomorrow by Rex Nutting via MarketWatch
- Spooked Banks Slash Subprime Credit Card Exposure by Tyler Durden via ZeroHedge
- Extrapolating Growth by John Hussman via Hussman Funds
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US
DOMESTIC POLITICS
Seudo democ y sist
duopolico in US is obsolete; it’s
full of frauds & corruption. Urge cambiarlo
"Our national living arrangements are far too
fragile...My guess is that thepeople warning about a second civil war are not
far off the mark. "
Read this
The Dogs Of
Vengeance
History
has a velocity of its own, and its implacable forces will drag the good,
the bad, the clueless, the clever, the guilty, the innocent, the avid, and the
unwilling to a certain fate. One can easily see a convergence of vectors shoving the nation toward
political criticality this autumn.
Mr. Trump is like
some unfortunate dumb brute of the ancient Teutonic forests with a bulldog
clamped to his nose, the rest of the pack close behind snapping at his
hamstrings and soft, swaying underbelly. His
desperate bellowing goes unanswered by the indifference of the trees in forest,
the cold moon above, and all the other furnishings of his tragic reality.
…
Continue reading at:
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The clueless poseurs and policy-making clowns in Washington risk setting off a terminal catastrophefor
their own people and the entire world...
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With the
United States withdrawing from major global treaties, engaging in economic
warfare on several fronts, and having considerable disagreements with
traditional allies,Washington now more
than ever needs the support of friends...
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“We are looking at 100 kiloton to 1,000 kiloton detonations” –
FEMA official
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"The working relationship is strained, that happens on occasion
and I support the president’s
right to have a cabinet of his choosing.."
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US-WW ISSUES (Geo Econ, Geo Pol
& global Wars)
Global depression is on…China, RU, Iran search for State
socialis+K- compet. D rest in limbo
"The
time has come when we need to go from words to actions, and get rid of the
dollar as a means of mutual settlements, and look for other alternatives,"
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"Putin wants to use the Russian military’s war games with the PLA
to show its military muscle" - Chinese
military analyst
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SPUTNIK and RT SHOWS
US inside GEO-POL n GEO-ECO ..Focus on neoliberal expansion via wars
& danger of WW3
RELATED:
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RT SHOWS
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NOTICIAS IN SPANISH
Lat Am NEW FOCUS: alternat to neo-fascist regimes, breaks to
HR, Peace & support to US-terrorism
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INFORMATION CLEARING HOUSE
Deep on the US political crisis: neofascism & internal
conflicts that favor WW3
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US Leaders Aid and Abet War Crimes in Yemen By Marjorie Cohn Continue
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What I've Learned About U.S. Foreign Policy Must
Watch - Video Documentary
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Watching America Collapse By Paul Craig Roberts Continue
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The Iron Wall Must
Read - By Vladimir Jabotinsky Continue
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DEMOCRACY NOW
Focus on Trump policies & the Econ & Pol crisis he
creates
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PRESS TV
Resume of Global News described by Iranian observers..
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