Sun AUG 26 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
"... the narrative that
the tax cuts would stimulate economic activity was pure propaganda...
The average middle class household spent its tax cut money on more expensive
gasoline and food. Since the tax
cut took effect, auto sales, home sales, and real retail sales have been
declining."
The economy may seem like it’s doing well if you are part of
the upper 10% demographic. Though,
in reality, for most of the upper 10%, doing “well” has
been a function of having easy access to credit. NASA Federal Credit Union is offering 0% down, 0% mortgage
insurance for mortgages up to $2.5 million.
Someone I know suggested the tax cut stimulus had run its
course. But the narrative that the tax cuts would stimulate economic activity was
pure propaganda. The tax cuts stimulated $1 trillion in
expected share buybacks and put more money in the pockets of corporate insiders
and billionaires. The
average middle class household spent its tax cut money on more expensive
gasoline and food. Since the tax cut took effect, auto sales and home sales
have declined. Retail sales have been mixed. However, it’s
difficult to distinguish between statistical manipulation and inflation. I would
argue that, net of real inflation and Census Bureau statistical games, real retail
sales have been declining.
On Wednesday last week, the Government reported July retail
sales, which were “up” 0.5% vs June. However, June’s 0.5% “gain” was revised sharply
lower to 0.2%.Revising the
previous month lower to make the headline number for the reported month appear
higher is a mathematical gimmick that the Government uses frequently. As
an example of the questionable quality of the retail sales report, the Government
reports that sales at motor-vehicle and parts dealers rose 0.2% from June to
July. But the auto industry itself reported a 4% decline in sales from June to
July. I’ll leave it up
to you to decide which report is more reliable…
Housing
starts for July, reported last Thursday, showed an 8% decline from June’s
number. June’s number was revised
lower from the original number reported. No surprise there, at least for
me.
This report followed last Wednesday’s mortgage applications
report which showed a decline in purchase applications for the 5th week in a
row. The housing starts number continues to throw cold water
on the “low inventory” narrative. While there still may some areas of housing
market strength in the $500,000 and below price bucket, the mortgage purchase
applications data has been mostly negative since April, which reflects
deteriorating home sales. This reality is “magnified” by the fact that home sales have declining
during what should be the strongest seasonal period of the year for home sales.
See Chart:
The Short
Seller Journal recommended shorting all three of these stocks before their
big declines.
See Chart:
Normally I’m hesitant to discuss the regional Fed economic
surveys because they are skewed by their expectations/outlook (hope/sentiment)
components. However, the
Philly Fed survey for August was notable because it reinforced my view that the
economy and the “hope” for a better economy is fading quickly. The overall index crashed to 11.9 from 25.7 in
July. This is lower than just before the Trump election, when “hope” soared.
Wall Street was expecting a 22.5 reading on the index. The new orders, work
week and employment components plunged. Shipments
dropped, inventories rose and prices paid fell. This report reflects the view
that economy is much weaker than is conveyed by the political propaganda coming
form DC.
See Chart:
I don’t know what it will take to cause a plunge in the Dow, S&P
500 and Nasdaq but, as we’ve seen with homebuilder stocks, there’s a lot of
opportunity to make money on economic reality in the lesser-followed sectors of
the stock market.
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"The recent sell-off
in gold prices on the back of the strengthening dollar is not supported by
fundamentals in our view... both drivers are near the bottom of
their respective cycles, implying little downside risk to gold while the
outlook for prices is increasingly
skewed to the upside"
See Chart:
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SOURCE: https://www.zerohedge.com/news/2018-08-26/gold-price-framework-vol-2-energy-side-equation-part-iii
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US
DOMESTIC POLITICS
Seudo democ y sist
duopolico in US is obsolete; it’s
full of frauds & corruption. Urge cambiarlo
"I
REGRET MY ERROR"
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An Illinois "Road Show" touts
more junk bonds as a solution to a perpetual budget crisis. What a bunch of garbage.
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Censorship is not the American way,and while people today may think
that the ‘other’ side is dead
wrong and shouldn’t be allowed to speak up, it takes a special kind of influence to
achieve the level of social media and platform banning that we’ve seen in
recent weeks...
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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
HOW
TO MEDDLE IN AN ELECTION - WASHINGTON STYLE
Yugoslavia was the worst
case
This was a well-coordinated, government-sponsored project to subvert
the will of voters in another country - a supremely successful piece of
political vandalism on a global scale...The
year was 1996.
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"These
real and financial risks could amplify each other, creating a perfect storm and
exacting an even higher price"
To those hoping for a quick resolution to the US-China trade
war, Axios had
some bad news earlier today, reporting that the trade feud is "likely to
last much longer than originally thought — extending well into the second half
of next year and perhaps beyond, experts say."
With few probable winners, the biggest losers would be
farmers, users of steel, and consumers in the US, manufacturers of all types
will see business leave to neighbors like Vietnam and Malaysia in China, while
dampening economic growth in both nations and around the globe.
See Charts
Alongside Carstens’ speech, the BIS released a research paper titled
"Global market structures and the high price of protectionism" which
that estimated that revoking NAFTA would mean a loss to
GDP of $37 billion in Canada, $22 billion in Mexico, and $40 billion in the
United States, with non-tariff trade barriers accounting for the lion’s share
of the losses. Wages would also fall across North America, the research found
according to Reuters.
See Graphic-Map
His conclusion: "Policymakers
in advanced economies should not shrug off the growing
evidence that abrupt exchange rate depreciations reduce investment and economic
growth in emerging market economies. This has implications for
everybody, in that weaker economic activity reduces demand for exports from
advanced economies."
“In the long term, protectionism
will bring not gain but only pain,” Carstens said, echoing a familiar talking
point of establishment economists. “Not just for the United States, but for us
all.”
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Strong
magnetic fields in the CME’s wake have cracked into Earth’s magnetosphere, allowing solar wind to enter.
So far auroras have been sighted
in Scandinavia, Canada, and northern-tier US states such as
Michigan and New York.
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"There is no denying that Venezuela was
more stable in the past decades,but the seeds of its very undoing were planted during those glory
years.Ultimately, creation of the
petro-state helped facilitate this decline."
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US,
MEXICO MAY ANNOUNCE NAFTA DEAL AS SOON AS MONDAY Que va a solucionar eso?
The U.S.
and Mexico are close to resolving bilateral differences on Nafta negotiations
and may wrap up as soon as Monday, Bloomberg reports, clearing the way for
Canada to possibly return to talks.
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La crisis
llego al cielo… Lo toman por asaltp y pasaran por la guillotina a sus santos en
la tierra
"Pope
Francis must honestly state when he first learned about the crimes committed by
McCarrick, who abused his authority with seminarians and priests. In any case,
the Pope learned about it from me on June 23, 2013 and continued to cover
him."
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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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Not enough merits in favor of fascism in Ukraine and
terrorism world wide?.. it could be
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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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GLOBAL RESEARCH
Geopolitics & Econ-Pol crisis that leads to more
business-wars from US-NATO allies
Is
the US and Its Allies Preparing to Bomb Syria? Towards a “No Fly Zone” in
Northern Syria? By Prof Michel Chossudovsky, Es a la inversa: RU se prepara a bombardear 3
aliados de NATO y al US si ayuda
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Russia
Sends Largest Naval Armada of Syrian War in Response to Reports of Imminent US
Attack By Leith Aboufadel, Atacar
a Siria es el inicio del WW3 y los RU-China y aliados respoderan de inmedia
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America’s
‘Boots-on-the-Ground’ Fighters in Syria Are Kurds and Al Qaeda By Eric Zuesse, Los terroristas Saudis, Israelis
y UK van a ser demolidos esta vez. Se lo merecen.
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PRESS TV
Resume of Global News described by Iranian observers..
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