ND
JUL 22 19 SIT
EC y POL
ND denounce Global-neoliberal debacle y propone State-Social
+ Capit-compet in Eco
ZERO HEDGE ECONOMICS
Neoliberal globalization is over. Financiers know it, they
documented with graphics
36
indicators improved from May to
June, while 49 indicators deteriorated (but of the indicators that
improved, nine made negative contributions).
See Chart:
….
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"The debt deflation horn
has already sounded. It will not
be unblown no matter how big the cut..."
The Fed meets on July 31 to make an
interest rate policy decision. What should the Fed do?
See Chart:
Futures implies Rate Cuts
"Anything less would fail to fix the imbalances in the global bond
market, continuing to weigh on economic sentiment," says Jim Bianco.
"By lowering its
target for the federal funds rate by just a quarter point, the Fed risks no less than a recession. The Fed has
a history of moving too slow to respond to evidence of weaker growth, and a
bold move now would help ensure the economy achieves the rare soft landing.”
See this chart and the tweet thread ...
the market rarely demands cuts, this is the first time in 11 Years.https://twitter.com/biancoresearch/status/1149714292230557696?s=21 …
See Chart:
What does the market think?
Yet, his charts highlight something more important.
Fed's
Asymmetric Bubble-Blowing Policy 1992-Present
See Chart:
Market Screaming for Hikes.. Where were they?
Fed's
Asymmetric Bubble-Blowing Policy 2009-Present
See Chart:
Market started Screaming for Hikes
in 2010
Market Screaming
for Hikes for five years.
The Fed did not deliver.
Too Low, Too Long
That the Fed did not deliver hikes
as expected is part of its asymmetric policy of keeping interest rates too low,
too long,
Bubbles Blown
Without a doubt the Fed blew more
bubbles, and likely the biggest in history.
The market responded with a
prolonged yield-curve inversion.
See Chart:
Yield
Curve
Spread
- The effective Fed Fund Rate is currently 2.41%.
- The yield on the three-year Treasury Note is 1.80%.
- The spread is -0.61 percentage points
Behind the Curve
Bianco is correct. The Fed is behind
the curve.
So What? Bubbles
Already Blown
Let's return to Bianco's opening
gambit: "Anything less
would fail to fix the imbalances in the global bond market, continuing to weigh
on economic sentiment."
On July 18, I wrote Half-Point
Rate Cut Odds Explode to 71% - So What? It Doesn't Matter!
The Fed, with its asymmetric too-low
too-long policy blew bubbles that are impossible to fix.
Too Late for
Insurance
The bubbles have been blown.
Even if the Fed can correct current
"imbalances" it cannot "unblow" bubbles anymore than it can unblow a horn.
Deflationary Bust
Baked in the Cake
In the Fed's foolish attempt to
stave off consumer price deflation, the Fed sowed the seeds of a very
destructive set of asset bubbles in junk bonds, housing, and the stock market.
The widely discussed "everything
bubble" is, in reality, a corporate junk bond
bubble on steroids sponsored by the Fed.
For discussion, please see Junk
Bond Bubble in Pictures: Deflation Up Next
Rate Cuts Don't
Matter
The bottom line at this point is an economic recession is
baked in the cake. The global economy is slowing and the US will not be immune.
The debt
deflation horn has already sounded. It will not be unblown no matter how big
the cut.
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Trading revenue with the five biggest Wall Street banks was down 8% in the second quarter, which followed
a 14% slide in the first quarter...
With Morgan Stanley reporting Q2 results yesterday, the
first half earnings of all "big 5" US banks are now public, and when
it comes to sales and trading they are nothing short of a disaster.
With the S&P at or near all time highs, institutional
traders have, paradoxically, been increasingly moving to the
"sidelines" for much of the second quarter as Wall Street trading desks posted their
worst first half to a year in a decade, according to Bloomberg
calculations. David Solomon, CEO of Goldman Sachs,
made note of this over the last two quarters, and other major banks like JP
Morgan and Citigroup have followed.
See Chart:
Wall Street Banks saw a collective
$5 Bll drop in first half trading revenue
Trading
revenue at the five biggest Wall Street banks was down 8% in the second
quarter, which followed a 14% slide in the first quarter. European banks are
expected to post even larger drop offs next week when they report.
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"This is a different
animal, it’s an oddity. A tech oddity... Ground control to Major
Tech: Put your helmet on..."
Indeed one might
call it a tech oddity. New highs on $NDX? Yes, but
check the cumulative advance/decline index $NAAD, it tells a very different
story:
See Charts:
What does this chart tell us?
Well, for one, during the run up from the 2016 lows into the 2018 highs $NDX ran in a
steady trend higher as did $NAAD. Very clean channel as a matter of
fact. Then it all fell apart in Q4 2018. But on the heels of the Fed pivot markets
recovered and are now back to all time highs. $NDX made a new all time high again in April and
also last week in July.
But note
$NAAD did not play along. Far from it. First
making a notable lower high in April it made yet another lower high last week. And
by doing so it has formulated a new trend line. Instead
of a steady uptrend as in 2016-2018 it has formed a line of resistance & is
potentially forming topping pattern.
What’s the message here from a technical perspective?
Something’s not quite right. This is not your 2016/2017/2018
bull market. This is a
different animal, it’s an oddity. A tech oddity.
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Today's readings on asset values - relative to nominal income and GDP -
exceed those of the dot.com and the housing bubble.
See Chart:
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"Today’s toxic mix of radical money
policy and retrograde prudential regulation of bank liquidity is the
functional equivalent of being back on the gold standard a century
ago..."
====
There is
probably no other topic in the gold and silver markets which incites heated
debate more than the subject of precious metals price manipulation.
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US
DOMESTIC POLITICS
Seudo democ duopolico in US is obsolete; it’s full of frauds
& corruption. Urge cambio
It is Trump that was trashed by the
“squad”: his credibility & legitimacy is at stake. The chances of
impeachment are on, once is cleared his lies on Economy..the falling of dollar
affects the whole Nation. The volatility is high and deflation is burning the
cake. SO, his words only deliver the intention of repression that will be
immediately contest This will be the end of Trump perspective for re-election. The polls are clear: Socialists-above
“The ‘Squad’ is a very Racist group of
troublemakers who are young, inexperienced, and not very smart...So bad
for our Country”
….
What a ridiculous story-tell on racism. In the
US all people know T is the main R
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"This
was a real compromise in order to give another big victory to our Great
Military and Vets!"
….
The military budget (the prop up of
wars abroad to sell lethal weapons) already kill American Econ future.. toward
WW3.. without counting soldiers sacrificed
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The
operation was only disclosed after the Army had to ask Congress for approval to
move funds.
….
IN WHOSE BENEFIT? is the key QT… Nobody will accept that is for
the Nat security.. the best security is to avoid risk WW3= dismantle nukes world wide
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Even the most distracted, fragmented tribe of the peasantry eventually notices that they're not
in the top 1%, or the top 0.1%...
What will be the
next Great Crisis? Some anticipate another great-power war, others
foresee another civil war, still others reckon a military coup is likely, and
some view a collapse of the economy and U.S. dollar as inevitable.
While
anything's possible, I propose a novel crisis unlike any in the past, a
Moral Crisis in which the people challenge the power of the nation's
corrupt Ruling Elites: not just
elected officials, but the technocrats of the Deep State, the vested interests
pillaging the nation, the New Overlords of Big Tech, the financier New
Nobility, the Corporate Media and the self-serving state/corporate technocrat
Nomenklatura who do the dirty work of the Ruling Elites.
Like all
Ruling Elites, America's Elites are absolutely confident in their power: this is hubris taken to new heights.
That the
citizenry could finally have enough of their corrupt, self-serving Overlords
does not seem in the realm of possibility to the Protected Few.
The possibility that
moral outrage could spark a revolt seems improbable in
such a distracted culture, but consider the chart below: even
the most distracted, fragmented tribe of the peasantry eventually notices that
they're not in the top 1%, or the top 0.1%, and that the Ruling Elites have overseen an unprecedented concentration of
wealth and power into the hands of the few at the expense of the many:
See Chart:
Pretax income growth in The United
States
Our Ruling
Elites have no idea how many of us already want to see them all in prison
jumpsuits, and they also have no idea how
fast the moral revulsion with their corrupt "leadership" might
spread. Scanning the distracted, consumerist rabble from the great heights of
their wealth and power, they reckon the capacity for moral outrage is limited,
leaving them safe from any domestic crusade.
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Corrupcion al por
mayor.. todas las elites están
envueltas.. la mierda huele feo: flash the toilet YA!
"It’s
not going to end up with just Jeffrey Epstein..."
RELATED:
"The Clintons were ‘relatively intimate with her’." [
The hilarious ‘pedo’ Hillary too? ]
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Koch brothers said: if we drill our skulls is sure we’ll
find SHALE there: DO IT!
With financial stress setting in for U.S. shale companies, some are trying to drill their way out of the
problem, while others are hoping to boost profitability by cutting
costs and implementing spending restraint. Both approaches are riddled with risk.
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US-WORLD ISSUES (Geo Econ, Geo Pol & global Wars)
Global depression is on…China, RU, Iran search for State
socialis+K-, D rest in limbo
Shutting the shoes .. and ..with illegal piracy. Creemos salir de la crisis pero
est-alli
“We’ve said
that we will sanction any sanctionable behavior and we mean it” — Pompeo
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"It terrifies me to think we are facing a national blackout
again."
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This time, there is no “coalition of the
willing” to
posture and pretend that the US has many and varied allies engaged in some just
cause to rid the world of evil, as
it proclaimed in 1994 versus North Korea, and in 2003 versus Iraq...
See Map
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The
revelation is the latest blow to trade talks between Washington and Beijing
that have already stalled.
….
One day the evil empire will know
that in world market no one is their puppet
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They can bring all NATO.. the fastest London Banks blow out
& its military too
Jeremy Hunt
outlined the goal “to support safe passage of crew and cargo” while condemning
Iran's “state piracy”.
…
Look who is saying so.. Hypocrisy
is a short word to describe it.. Just UKIS word
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SPUTNIK and RT SHOWS
GEO-POL n GEO-ECO
..Focus on neoliberal expansion via wars & danger of WW3
-UK Gov't Need to Know That It Won't Be Able
to Do Same Thing in Iran That It Did in Iraq It will be en reverse.. it is the
UK that is going to be hit severely by
Iran’ allies
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NOTICIAS IN SPANISH
Lat Am search f alternatives to neo-fascist regimes &
terrorist imperial chaos
ALAI ORG
VEN:
Más de 100 países en Caracas: en defensa de
mutilaterialismo y la audeterminación de los pueblos Álvaro Verzi Rangel
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RT EN
ESPAÑOL
Por la estupidez de un par de pilotos perdieron un gran aliado
- Posible "ataque electromagnético" deja sin luz Caracas y 15 estados del país
- Pompeo: "EE.UU. está construyendo una coalición para patrullar el estrecho de Ormuz"
- "No quiero matar a 10 millones de personas": Trump dice que podría ganar la guerra de Afganistán "en una semana"
- 256 exhalaciones en 24 horas: el volcán Popocatépetl mantiene en vilo a México
- Trump alcanza un acuerdo sobre el presupuesto con los demócratas y evita el cierre del Gobierno
- Una "científica loca" convierte a su hijo autista en un cíborg
- Militares británicos tras la detención de su petrolero por Irán: Nuestra Armada es "demasiado pequeña"
- La prueba de inteligencia más corta del mundo solo tiene 3 preguntas (pero pocos pueden superarla)
- Difunden las primeras fotos de los "espías de la CIA" descubiertos y arrestados en Irán
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INFORMATION
CLEARING HOUSE
Deep on the US political crisis: neofascism & internal
conflicts that favor WW3
-Trump Is Back Under Bolton’s Thumb By Paul Craig Roberts
-The Putin Interviews : Vladimir Putin &
Oliver Stone Discuss NATO By Oliver Stone
-The Honey Trap On E 71St By Eric Margolis Were Trump involved?
Trump solo fue a mirar a las lolitas: “Epstein reportedly had ties to Donald Trump, Bill Clinton,
Britain’s Prince Andrew and repeatedly flew them about in his private jet, aka
‘the Lolita Express.’ All guests deny any sexual activity. I turned down dinner
with Prince Andrew.” Osea que tenemos un “santo” en la
casa de Gov: San Trumpi.
-Send me back to Ireland – the country I came
from By Timothy Egan Lo que dijo Trump a las damas del “squad”: “Those of us who don’t like what’s going on in this country
should get the hell out. “Go back,” as he said, to
the “crime-infested places from which they
came.”
QT 1: Does he include
Ireland in those “infested places”? .. What Tim
Eagan found on the island called Ireland –said the author of this article - is typhus every-where .. He saw typhus
once took entire families as they shivered on floors of mud, where, by one
medical estimate, 50 per cent of the children in Dublin once died before their
first birthday, is now a land of universal health care”.
Now the QT 2 is where the
ancestors of Trump came from? Is it true
form Ireland, as one writer suggested.. That is not clear, but is clear that
his Tweet demonizing the “squad” wasn’t aimed at himself, “Nor was it directed at his vice president, the cipher and coward
Mike
Pence, himself an Irish-American”. It was aimed to different races in the “squad”
lead by AOC. .. a very racist tweet
anyway. And it is very nasty and ridiculous to accuse AOC team of racism.
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-Humor Mexicans Invade US; Trump Forced to Go
Without Toothbrush By Susie Day
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COUNTER PUNCH
Analysis on US Politics & Geopolitics
-Michael Hudson U.S.
Economic Warfare and Likely Foreign Defenses
-Mike Garrity Emergency
Alert For the Wild Rockies
-John Feffer Trump’s
Send-Them-Back Doctrine
-Gary Leupp Omar and Trump
-Robert Koehler Fighting
Climate Change Means Ending War
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GLOBAL RESEARCH
Geopolitics & Econ-Pol crisis that leads to more
business-wars from US-NATO allies
-A
Bank with 49 Trillion Dollars in Exposure to Derivatives Is Melting Down Right
in Front of Our Eyes By Michael Snyder,
-Economic
and Social Crisis in Puerto Rico: “The Ugly American” and the Puerto Rican
National Question By Vince Montes,
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DEMOCRACY NOW
Amy Goodman’ team
-“We
Are Not Anti-Science”: Why Indigenous Protectors Oppose the Thirty Meter
Telescope at Mauna Kea
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PRESS TV
Resume of Global News described by Iranian observers..
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