Nov 9 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
It was such a great ride... until today...
China stocks started the week confidently but ended weak with
Shanghai Composite back below the 2600 Maginot Line...
See Chart:
A roller-coaster week
of oddness as US stocks were bid on post-election 'gridlock' when it was the
opposite of gridlock that has sent stocks higher in the last two years... and then dumped when The Fed explained how great the economy
was (and therefore it needs to be tamped down by hiking rates)... and then the
ubiquitous Friday-closing-ramp...
See Chart:
Futures show the post-election pump and post-Powell dump best...
See Chart:
FANG Stocks ended the week in the red after giving it all
back today...
See Chart:
Financials outperformed (perhaps because they know Maxine
Waters is running the show now), even as the yield curve flattened notably
post-Fed...
See Chart:
The Yield Curve flattened significantly on the week...
Breakevens tumbled today, finally catching down to crude's
collapse...
See Chart:
The Dollar was up for the second week in a row, erasing much
of the drop from two weeks ago...
See Chart
Finally, completely burying the lead, we note the price
action of the largest equity market capitalization index in the world - the $24
trillion NYSE Composite...
See Chart:
As Brad Wishak
notes, "Text book throw back fail at both the 200 and uptrend
resistance...Bull trap the call from here...It's just a matter of trickle
down..."
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SOURCE:
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"Trump and the
GOP deserve everlasting ignominy for literally shit-canning fiscal rectitude..."
To wit, Trump and the GOP deserve everlasting ignominy
for literally shit-canning fiscal rectitude.
The fact is, five pro-liberty and
pro-free market steps would make the whole trumped up border
"invasion" bunkum and balderdash go away in a heartbeat. These would include:
- Legalizing all drugs and turning the distribution job over to nonviolent operators like, say, Phillip Morris;
- Freely handing out guest worker permits at the 48 border control stations and regularly renewing them upon demonstration of gainful employment (W-2 forms);
- Denying any and all forms of Federal welfare to non-citizens;
- Providing guest workers a ten-year route to citizenship if they hold a steady job, don't break the criminal law (speeding tickets ok) and pay an admission fee based on a modest percentage of their cumulative W-2 wages; and
- Permitting all so-called illegals already here to obtain a guest worker permit at the nearest Federal courthouse and to embark on a 10-year route to citizenship if they hold a job, observe the law, pay the admission fee and also a reasonable fine for their original misdemeanor (crossing the border illegally).
That would end the drug-cartel related violence at the
border once and for all and bring America what it desperately needs: Namely, more strong backs to supplement what is a declining
pool of native born workers, and, to put it crudely, more young tax-mules to
help fund the crushing Welfare State burden implicit in the tsunami of Baby
Boom retirements, which will double the benefit rolls from 55 million to 100
million over the next several decades.
See Chart:
The US work force
with & without future immigrabts
And please don't say they take Americans jobs. It's possible
that even Nancy Pelosi knows better than that trade-union canard; and, besides,
vibrant capitalism can employ any and all workers who volunteer their labor if
the state doesn't throw up obstacles or block the way with unreasonable minimum
wage laws.
See Chart:
So the bottom line is
this: When it comes to the nation's fiscal governance there is absolutely no
one home in Washington. The upcoming deluge of red ink will meet with no
resistance at all.
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SOURCE: https://www.zerohedge.com/news/2018-11-09/stockman-nations-fiscal-doomsday-machine-now-unstoppable
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"People turn
to cryptocurrencies where they collapse, like Venezuela or
Cyprus or Syria, something like that. When people start getting into it is when their own financial systems
collapse..."
Full interview: CEO of Overstock thinks the Govt Should
do this for Bitcoin
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"... the growth/inflation mix is
deteriorating and markets often have a sharp correction followed by a sharp
rally prior to a more sustained bear market."
See Chart:
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“Today we are borrowing our children’s future
with debt. We are witnessing the
‘hosing’ of the young...”
For financial markets, one
takeaway mattered above all others in the midterm election—no curveballs.
And that’s basically what was delivered as
pundits who got it so wrong in 2016, correctly forecast the end of one-party
rule this time. With Dems calling the shots in the
House, we could see no end to investigations, subpoenas and possibly
impeachment talk and a hard push for POTUS to cough up those tax returns.
All that may slow down President Donald
Trump’s MAGA plans.”
See Chart:
While that is
entirely true, I think the markets are going to quickly look past the now “gridlocked” Congress
to the more important drivers of the market – earnings and share buybacks.
As I noted in yesterday’s
missive on rising headwinds to the market,
earnings expectations have already started to get markedly ratcheted down for
the end of 2019.
See Chart:
The problem, as noted
by Dr. Brock, is that government spending has shifted away from productive
investments, like the Hoover Dam, that create jobs (infrastructure and
development) to primarily social welfare, defense and debt service
which has a negative rate of return. According to the Center
On Budget
& Policy Priorities, nearly 75% of every tax dollar goes to non-productive spending.
See Chart:
Just something to
think about as you catch up on your weekend reading list.
ECONOMY & FED
- Trump Will Probably Resist Common Grounds by Caroline Baum via MarketWatch
- Fed’s Rosy Outlook Snubs History by Danielle DiMartino-Booth via Bloomberg
- Is Gridlock Good? by William Watts via MarketWatch
- The Global Economy Is Going Down For A 4th Time by Jeffrey Snider via Alhambra Investments
- Can Dems Reverse Trumponomics Now? by IBD
- Rhetoric vs Reality: US-China Trade War by Michael Wenderoth via Forbes
- American Inequality Boiled Down To One Chart by Shawn Langlois via MarketWatch
- Economic Lessons From “Fiddler On The Roof” by Matthew Rousu via Real Clear Markets
- Why America Needs Another Baby Boom! by Steven Mosher via New York Post
- Socialism Kills…Literally by Richard Rahn via Washington Times
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MARKETS
- Kolanovic: Split Congress Best Outcome For Markets by Tyler Durden via Zerohedge
- Midterms Impact On Your Retirement by Mark Hulbert via MarketWatch
- This Has Never Happened Before by Sven Henrich via Northman Trader
- What Is The Real Effective Exchange Rate by Simon Constable via Korn Ferry Institute
- Did October Stop The Bull by Dana Lyons via The Lyons Share
- It’s The Worst Year Since 1901 by Cecile Gutscher via Bloomberg
- What Midterm Outcome May Mean For Stocks by Mark DeCambre via MarketWatch
- The Bull Market Is Dependent On Just A Few by Vident Financial
- This Year Is Anything But Typical by Jeff Sommer via NYT
- Marks: Conditions Make This A Time Of Caution by Christoph Gisiger via Finanz Und Wirtschaft
- Even After The Correction, There Will Be More by John Hussman via Hussman Funds
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MOST READ ON RIA
- GE – Bringing Investment Mistakes To Life by Lance Roberts
- Blind Faith Isn’t An Investment Strategy by Michael Lebowitz
- A Divided Nation We Stand by Doug Kass
- The Important Role Of Recessions by Lance Roberts
- 4-Steps To Save Money by Richard Rosso
- The Tailwinds To The Bull Market Have Shifted by Lance Roberts
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Watch
RESEARCH /
INTERESTING READS
- What Happens To Buybacks In A Recession by Nick Colas via Zero Hedge
- What Will The Next Financial Crisis Look Like by Daniel LaCalle via The Epoch Times
- Are You One Of Those “End Of The World Guys?” by Jeff Thomas via International Man
- Higher Ed Fading For Low Income Students By Patrick Hill via Progressive Ensign
- Warren Buffett Issues Another Warning by Simon Black via Sovereignman.com
- Everything You Know About The “G.R.” Is Wrong by Steve Goldstein via MarketWatch
- The Madame Bovary Effect by Ben Hunt via Epsilon Theory
- The “Wall Street” Math Hustle by Richard Wiggins & Michael Edesess via Institutional Investor
- Are You Overconfident In Your Financial Future by Peter Dunn via USA Today
- The George Costanza Portfolio by Cliff Asness via AQR Capital Management
- Millionaire Being Made By The Million Last Year by IBD
- Not All Corrections Become Bear Markets by Sue Chang via MarketWatch
“Stupidity has a knack of getting its
way.” – Albert Camus
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Our entire economy is characterized
bycartel rentier skims, central-bank goosed asset bubbles
and stagnating earned income for the bottom 90%...
See Chart:
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US DOMESTIC POLITICS
Seudo democ duopolico
in US is obsolete; it’s full of frauds & corruption. Urge cambio
"...by the time
Barack Obama and the political left were done fundamentally transforming America via the Cloward-Piven advancement of
the welfare state, Norman Rockwell’s America, like Elvis, had exited the
proverbial building..."
Here are three reasons why elections don’t matter anymore:
1.) The Swamp Will Never
Be Drained
2.) The Inflating Debt Bubble & the Imploding
Financial System
3.) Technocracy Rises:
Big Brother Cometh
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Police in Northern California said five people have been found dead in
their vehicles in Paradise, California after the Camp Fire burned
through nearly the entire town.
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"Residents should use PCH to evacuate and avoid canyon roads"
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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-, D rest in limbo
"President Macron of France has just
suggested that Europe build its own military in order to protect itself from
the U.S., China and Russia. Very insulting, but perhaps Europe should first pay
its fair share of NATO, which the U.S. subsidizes greatly!"
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"We will be
presenting Petro to OPEC in 2019 as the main digital currency backed by oil."
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And so, with the midterm election in the
rearview mirror, behold the rush into the next phase of Civil War 2.0...
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SPUTNIK and RT SHOWS
GEO-POL n
GEO-ECO ..Focus on neoliberal expansion
via wars & danger of WW3
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RT SHOWS
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NOTICIAS IN SPANISH
Lat Am search f
alternatives to neo-fascist regimes & terrorist imperial chaos
REBELION
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ALAI NET
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RT EN ESPAÑOL
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COUNTER PUNCH
Analysis on US
Politics & Geopolitics
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Ron Jacobs Impeach!
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José Tirado A World Off
Balance
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David Rosen It’s
Time to Decriminalize Sex Work
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Faisal Khan The
Weaponization of Social Media
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Nyla Ali Khan Religion,
Reformation, and Modernity
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GLOBAL RESEARCH
Geopolitics &
Econ-Pol crisis that leads to more business-wars from US-NATO allies
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DEMOCRACY NOW
Focus on Trump
policies & the Econ & Pol crisis inside US
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PRESS TV
Resume of Global News
described by Iranian observers..
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