Tue SEP 4 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
"Currencies don't melt down
randomly. This is only the first
stage of a complete re-ordering of the global financial system..."
Currencies don't melt down randomly. This is only
the first stage of a complete re-ordering of the global financial system.
Take a look at the Shanghai Stock Market
(China) and tell me what you see:
See
Chart:
A complete meltdown, right? More
specifically, a four-month battle to cling to the key technical support of the
200-week moving average (the red line). Once the support finally broke, the
index crashed.
Now take a look at the U.S. S&P 500
stock market (SPX):
See
Chart:
SPX is soaring to new highs, not just
climbing a wall of worry but leaping over it. So the
engine of global growth--China--is exhibiting signs of serious disorder, and
the world's consumerist paradise--the U.S.-- is on a euphoric high (Ibogaine in
the water supply?)
This divergence is worth pondering. How
can the two economies that have powered a 28-year Bull Market in just about
everything (setting aside that spot of bother in 2008-09) be responding so
differently to the global economy and global financial system's woes?
There's a rule of thumb that's also worth
pondering. While the stock market attracts all the media
attention--every news cast reports the daily closing the the Dow Jones
Industrial Average, the SPX and the Nasdaq stock index--the bond market is
larger and more consequential. And larger still is the currency market--foreign
exchange (FX).
As the chart below illustrates, a great
many currencies around the world are in complete meltdown. This is not normal. Nations
that over-borrow, over-spend and print too much of their currency to generate
an illusion of solvency eventually experience a currency crisis as investors
and traders lose faith in the currency as a store of value, i.e. the faith that
it will have the same (or more) purchasing power in a month that it has today.
[[
Chart miss it ]]
See missing chart:
Here's the key takeaway: a currency crisis
is a symptom of a deeper disease--it is not the illness. The
same is true of stock market declines like the Shanghai Index that break
long-term support levels: a crashing stock market is a symptom of a deeper
disease, it's not the illness.
The fact that so many currencies are
melting down at the same time is telling us the global financial system is
unraveling, and unraveling fast. This is a symptom of a fatal disease. Currencies
reflect all sorts of financial information; they're akin to taking an economy's
pulse: trade balances, debt levels, interest rates, central bank policies,
fiscal policies, and so on.
The global financial system is
inter-connected, but this is not a viable excuse for the meltdown. The
general explanation floating around is that currency weakness is like the flu:
one currency gets it, and then it spreads to other weak currencies.
This diagnosis is misleading. What's actually happening is the unprecedented global bubble of debt and
assets of the past decade is popping, and
it's laying waste to the most indebted, over-leveraged and mismanaged nations
first, either via stock market declines or meltdowns in currencies.
These are symptoms. The disease is the
"fixes" of the past decade--extreme expansions of debt and asset
valuations--are unraveling. The global financial system suffered a seizure
in 2008-09, a non-linear manifestation of a system completely out of whack: the
$500 billion subprime mortgage market almost took down the entire $200 trillion
global financial system.
That's the acme of a brittle, fragile system: a small input (subprime mortgage defaults)
yields an enormous output (global financial meltdown).
What nobody dares talk about is the
"fixes" have made the global financial system even more vulnerable
than it was in 2008. The global meltdown of currencies is evidence
that the symptomatic "solutions" to the brush with collapse in
2008-09--skyrocketing debt and asset bubbles-- fixed nothing. All they did was
inflate an even larger, more vulnerable bubble.
Currencies don't melt down randomly. This
is only the first stage of a complete re-ordering of the global financial
system, a re-ordering that will reprice all
the assets currently bubbling at absurd levels to much lower valuations.
The illusion that the U.S. is immune to
the unraveling of debt and asset valuations won't last. When
the defaults start piling up, so will the losses, and when asset bubbles pop,
incomes and spending decline. Although few seem to notice, almost half the
profits of the S&P 500 corporations are earned overseas.
The belief that U.S. markets are somehow disconnected from global
markets and immune to the repricing of risk, debt, assets and currencies is
magical thinking. [[ magicians are not
economists ]]
*
* *
My
new mystery The
Adventures of the Consulting Philosopher: The Disappearance of Drake is
a ridiculously affordable $1.29 (Kindle) or $8.95 (print); read the first chapters for
free in PDF format.
My new book Money and Work Unchained is now $6.95 for the Kindle ebook and
$15 for the print edition.
…
SOURCE: https://www.zerohedge.com/news/2018-09-04/global-financial-system-unraveling-and-no-us-not-immune
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"No country, if properly mismanaged,
is immune to hyperinflation..."
No country, if properly mismanaged, is immune to
hyperinflation. Gold
and silver are the best counterattack for individuals faced with fiat currency
and spiraling costs. Hard assets
are beyond the control of government manipulation and retain their value during
the worst of time. Especially in the worst of times.
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Here
comes a description of a failed oligarchical takeover of US .. or ITS PROCESS
ON nowadays
“The
United States is now at one of those historic forks in the road... To value liberty
for the wealthy minority above all else and enshrine it in the nation’s
governing rules... is to
consent to an oligarchy in all but the outer husk of representative form.”
Here only extracts.. got to The Institute
for New Economic Thinking or source at the end
Nobel laureate
James Buchanan is the intellectual linchpin of the Koch-funded attack on
democratic institutions, argues Duke historian Nancy MacLean
Ask people to name the key minds that have shaped America’s burst of
radical right-wing attacks on working conditions, consumer rights and public
services, and they will typically mention
figures like free market-champion Milton Friedman, libertarian guru Ayn Rand,
and laissez-faire economists Friedrich Hayek and Ludwig von Mises.
The
reason? Duke historian Nancy MacLean contends that his philosophy is so stark
that even young libertarian acolytes are only introduced to it after they have
accepted the relatively sunny perspective of Ayn Rand. (Yes, you read that
correctly). If Americans really knew what Buchanan thought and promoted,
and how destructively his vision is manifesting under their noses, it would
dawn on them how close the country is to a transformation most would not even
want to imagine, much less accept.
That is a dangerous blind spot,
MacLean argues in a meticulously researched book, Democracy
in Chains, a finalist for the National Book Award in Nonfiction. While Americans grapple with Donald Trump’s chaotic
presidency, we may be missing the key to changes that are taking place
far beyond the level of mere politics. Once these changes are locked into place, there may be no going back.
Continue reading.. Check these
subtitles
An Unlocked Door in Virginia
A Theory of Property Supremacy
Does that sound like your kindergarten teacher? It
did to Buchanan.
Gravy Train to Oligarchy
The Oligarchic Revolution Unfolds
A World of Slaves
Most Americans haven’t seen what’s coming.
MacLean is not the only scholar to sound
the alarm that the country is experiencing a hostile takeover that is well on
its way to radically, and perhaps permanently, altering the society. Peter Temin, former head of the MIT economics
department, INET grantee, and author of The
Vanishing Middle Class, as well as economist Gordon Lafer
of the University of Oregon and author of The
One Percent Solution, have provided eye-opening analyses of where
America is headed and why. MacLean adds another dimension to this dystopian big
picture, acquainting us with what has been overlooked in the capitalist right
wing’s playbook.
MacLean
argues that despite the rhetoric of Virginia school acolytes, shrinking big
government is not really the point. The oligarchs require a government with tremendous new powers
so that they can bypass the will of the people. This, as MacLean points out, requires greatly
expanding police powers “to control the resultant popular anger.” The
spreading use of pre-emption by GOP-controlled state legislatures to suppress
local progressive victories such as living wage ordinances is another example
of the right’s aggressive use of state power.
Could these
right-wing capitalists allow private companies to fill prisons with helpless
citizens—or, more profitable still, right-less undocumented
immigrants? They could, and have. Might they engineer a retirement crisis
by moving Americans to inadequate 401(k)s? Done. Take away the rights
of consumers and workers to bring grievances to court by making them sign
forced arbitration agreements? Check. Gut public education to the
point where ordinary people have such bleak prospects that they have no energy
to fight back? Getting it done.
Would they even refuse children clean water? Actually, yes.
To many this sounds grotesquely inhumane,
but it is a way of thinking that has deep roots in America. In Why
I, Too, Am Not a Conservative (2005), Buchanan considers the charge of
heartlessness made against the kind of classic liberal that he took himself to
be. MacLean interprets his discussion to mean that people who “failed to
foresee and save money for their future needs” are to be treated, as Buchanan
put it, “as subordinate members of the species, akin to…animals who are
dependent.’”
Do you have your education, health care,
and retirement personally funded against all possible exigencies? Then that means you.
Buchanan
was not a dystopian novelist. He was a Nobel Laureate whose sinister logic exerts
vast influence over America’s trajectory. It is no wonder that Cowen, on his
popular blog Marginal Revolution, does not mention Buchanan
on a list of underrated influential libertarian thinkers, though elsewhere on
the blog, he expresses admiration for several of Buchanan’s contributions
and acknowledges that
the southern economist “thought more consistently in terms of ‘rules of the
games’ than perhaps any other economist.”
The rules of the game are now clear.
Research
like MacLean’s provides hope that toxic ideas like Buchanan’s may finally begin
to face public scrutiny. Yet at this very moment, the Kochs’ State Policy
Network and the American Legislative Exchange Council (ALEC), a group that
connects corporate agents to conservative lawmakers to produce legislation, are
involved in projects that the Trump-obsessed media hardly notices, like pumping
money into state judicial races. Their
aim is to stack the legal deck against Americans in ways that MacLean argues
may have even bigger effects than Citizens United, the 2010 Supreme
Court ruling which unleashed unlimited corporate spending on American politics.
The goal is to create a judiciary that will interpret the Constitution in favor
of corporations and the wealthy in ways that Buchanan would have heartily
approved.
“The United
States is now at one of those historic forks in the road whose outcome will
prove as fateful as those of the 1860s, the 1930s, and the 1960s,” writes MacLean.
“To value
liberty for the wealthy minority above all else and enshrine it in the nation’s
governing rules, as Calhoun and Buchanan both called for and the Koch network
is achieving, play by play, is to consent to an oligarchy in all but the outer
husk of representative form.”
Nobody
can say we weren’t warned.
…
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US DOMESTIC POLITICS
Seudo
democ y sist duopolico in US is
obsolete; it’s full of frauds &
corruption. Urge cambiarlo
Making friends and influencing people
since 1950?
See
Map:
….
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"Operation CHAOS"
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...the reality of the situation is Amazon is far
more than a retail shopping website - it has extensive and growing ties to
the military-industrial-surveillance complex...
It’s
important to have this sort information at your fingertips the next time
someone describes Amazon in warm and fuzzy terms, so here are few examples:
1. Amazon Web Services (AWS) has a
major financial relationship with the CIA.
A
2017 article in Business
Insider summarized some of what’s going on:
Read Doct:
2. Jeff Bezos was named to the
Pentagon’s Defense
Innovation Advisory Board back in 2016.
3. Vanity Fair recently
reported on how Amazon and its lobbyists have seemingly rigged the
process of awarding a $10 billion Pentagon contract in favor of the company.
“We recently became
aware of serious and possible criminal violations related to the Amazon cloud
DOD contract process,” says a high-ranking congressional staffer who
spoke on the condition of anonymity. “We are concerned
about the implications of the appearance of conflicts of interest and
impropriety related to how Pentagon personnel with close ties to Amazon may
have influenced multi-billion-dollar cloud contracts.”
4. Amazon is selling a creepy and
dangerous facial recognition product known as “Rekognition”
to police departments across the country (see
the following from the ACLU: Amazon
Teams Up With Government to Deploy Dangerous New Facial Recognition Technology).
Given
the clear links between Amazon and the surveillance state, am I the only one
who finds it mind-boggling that so many people are willing to place an Amazon
created “virtual assistant” named Alexa into their homes and treat it as part
of the family?
Those
are just a few points highlighting Amazon’s deep ties to the military-surveillance
state, and we haven’t even discussed its perverse impact on competition in the
free market for goods. As Stacy Mitchell notes:
Amazon has also used below-cost selling to crush and absorb upstart
competitors. In 2009, it
acquired the popular shoe retailer Zappos after reportedly
losing $150 million selling shoes below cost in order to force the
rival company to the altar. Likewise, when Quidsi, the firm behind Diapers.com,
emerged as a vigorous competitor, Amazon
offered to buy it; when Quidsi’s founders refused, Amazon slashed its
diaper prices below cost. Bleeding red ink, Quidsi eventually agreed to
Amazon’s offer. Over time, this behavior has had a restraining effect:
Start-ups intent on challenging Amazon are unlikely to find investors and so
never get off the ground. “When you are small, someone
else that is bigger can always come along and take away what you have,” Bezos
has said.
5? Many Americans have
started to recognize the dangers of Facebook and Google over the past year,
partly as a result of the companies’ increasingly sloppy use of censorship, yet
the public remains in complete denial when it comes to Amazon and Jeff Bezos. I
suspect this will change in the years ahead, and I hope my articles on the
topic will serve as useful resources for those who care. The sooner we admit what’s going on the better.
See
Doct: twitter at
…
…
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"WE’RE
IN CRAZYTOWN" - WOODWARD'S EXPLOSIVE NEW BOOK EXPOSES "NERVOUS
BREAKDOWN" OF TRUMP PRESIDENCY
"We’re in Crazytown. I don’t even know why any of
us are here.
This is the worst job I’ve ever had."
[[ Then the Key Qt is why we keep him in power? Or Does people in C-town like him? ]]
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9/11 First responders and New York
citizens weretold the air was safe to
breathe after the attacks,now,
nearly 10,000 of them have cancer...
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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
Is
this a Pentagon report? Who is more
interested in start the suicidal WW3?
"the airplane carried components for
manufacturing precise weapons in Iranian factories inside Lebanon" – Report
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The Chinese government has launched a hunt
for hidden assets (and unpaid taxes) overseas.
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They
both China-Ops and CIA do the same
"Today’s interconnected society provides fertile ground for influencing
foreign audiences through the indirect means...the US has been practicing these sorts of
influence operations against other countries for decades now.
"
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SPUTNIK and RT SHOWS
US inside
GEO-POL n GEO-ECO ..Focus on
neoliberal expansion via wars & danger of WW3
Caballo
de troya full of paper?.. Cuando lo abrieron: .. el viento se lo llevo? Or RU missilels
Pompeo
and Cavusoglu "agreed that any Assad regime
military offensive in Idlib would be an unacceptable, reckless escalation
of the conflict in Syria," the statement reads.
See
paper at this twitt:
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RELATED:
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Kavanaugh
Craze: The First Day US
circuit court judge and Supreme Court nominee Brett Kavanaugh’s Senate
confirmation hearing proved anything but uneventful
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RT
SHOWS
Keiser Report
Episode
1275 Max
and Stacy discuss the update to the financial repression index and how
‘quantitative easing’ shifted wealth to stockholders from depositors and
bondholders. They also discuss the Irish state buying back properties at market
prices from vulture funds that they had sold to US private equity firms only a
few years ago at pennies on the dollar.
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NOTICIAS IN SPANISH
Lat
Am NEW FOCUS: alternat to neo-fascist regimes, breaks to HR, Peace &
support to US-terrorism
The worse for Latinos is open doors to US wars
in the South
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INFORMATION CLEARING HOUSE
Deep
on the US political crisis: neofascism & internal conflicts that favor WW3
U.S. Is Defending al-Qaeda in Idlib By Ron Paul Continue
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'This is Treason': By Kevin Breuninger Continue
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GLOBAL RESEARCH
Geopolitics
& Econ-Pol crisis that leads to more business-wars from US-NATO allies
What
Happened on the Planes on September 11, 2001? The 9/11 Cell Phone Calls. The
9/11 Commission “Script” Was Fabricated By Prof Michel
Chossudovsky,
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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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