ND
DEC 10 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
"FX
swaps could end up as the orphaned asset class without an obvious backstop, and
that may force banks in some parts of the world to the edge of the proverbial
abyss."
For the past decade, the name of Zoltan
Pozsar has been among the most admired and respected on Wall Street: not
only did the Hungarian lay the groundwork for our current understanding of the deposit-free shadow
banking system - which has the often opaque
and painfully complex short-term dollar funding and repo markets - at its
core...
See Chart:
FED Reserve Bank of NY
Mapping U.S. Dollar Funding Flows
This
interactive map shows how various institutions generally engage with one
another, and the Federal Reserve’s balance sheet,
in the course of borrowing and lending U.S. dollar instruments in the money markets.
in the course of borrowing and lending U.S. dollar instruments in the money markets.
Image address at:
While Pozsar does not focus as much on the causes of the
repocalypse, having previously covered them in depth in his prior Money Notes
(and he would know: as noted above, Pozsar is the de
facto architect of the modern US repo system), what he does do in his latest
note, titled ominously "Countdown to QE4" is explain why the Fed's interventions to date have failed to
reverse the underlying plumbing issues in the banking system, manifesting
themselves in a dramatic increase in Treasurys at the biggest US bank, JPMorgan...
See Chart:
JP Morgan sheds loans, buys Bonds
.. offset by a decline in reserves,
i.e. cash...
See Chart:
Less Firepower
... at the largest US banks, something we addressed
previously when we discussed how JPMorgan gamed the financial system to trigger
"NOT QE", and a topic that Bloomberg touches on overnight in "Repo
Firepower Reduced by Falling Cash Levels at Big U.S. Banks."
As Pozsar cautions, the core
problem at the heart of the repo blockage is that as
banks shifted from owning reserves to collateral (mostly Treasuries), for
reasons we will address shortly, large U.S. banks like J.P. Morgan that are
central to year-end flows spent some $350 billion of excess reserves on
collateral since the beginning of the Fed’s balance sheet taper, leaving banks
(and especially JPMorgan) dangerously low on reserves.
See Chart:
Large US Banks has not excess
reserves left to ‘frack”
We previously provided a simple
schematic of how bank G-SIB scores are calculated in the following chart...
See Table
... but the bottom line is the
following: banks seek as low as GSIB score as possible at year end to minimize
their period end surcharge:
See table
GSIB
surcharge by quarter
As Pozsar further notes, "U.S. banks are particularly
sensitive to their G-SIB scores this year, as they all moved up to a higher
surcharge bucket due to bigger Treasury holdings and a heavier repo footprint: every U.S.
bank except Morgan Stanley has an incentive to shrink its score into year-end."
It is here that a unique paradox emerges: the highest stock
prices rise, the higher the implied score (a negative).
Continue reading & see more
charts at:
….
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US productivity slipped 0.2% QoQ in Q3 2019,
worse than the preliminary 0.1% decline and the biggest QoQ drop since Q4 2015.
Year-over-year
saw productivity rise at 1.5% - the
weakest since Q4 2018.
See Chart:
….
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Netflix
could lose upwards of 4 million US subscribers in 2020 thanks to intensifying
competition in the streaming space.
See Chart:
….
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Global
stocks, 10Y TSY yields and the US dollar dropped for a second day on Tuesday,
amid what conventional wisdom said was "caution over a Dec. 15 deadline
for the next round of U.S. tariffs" as well as looming central bank
meetings and UK elections. The real concern: another repo market crisis.
====
Solo la
clase media salvara la economía Americana. El labor es aquí ‘clase media’ x Ley
“This
historic run may defy the expectations of many, but it comes as no surprise to
small business owners who understand what a supportive tax and regulatory
environment can do for their companies,”
….
La palabra “proletariado” les olió a socialism y REV y se la sacó del
diccionario popular. Aquí los ‘proletarios’ prefieren llamarse clase media y a
nadie importa
See Chart:
Overview: Small Business Optimism
See more charts ON THE WORKING CLASSES at:
….
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"...diesel consumption is tightly coupled
with the manufacturing cycle."
====
Con falsas estadísticas
es fácil soñar paraísos imposibles
it’s clear
that the story of high-grade debt next year will be told through deleveraging.
Yields tumbled in 2019, which helped spur a great year for investors, and
borrowing likely will remain relatively cheap in 2020.
====
According
to a new report
from The Brookings Institution, regional divergence in the U.S. innovation
sector "has reached extreme levels."
====
"2019 was the year when investors
could pick just about anything... Just throw a dart, and you're up
15-20%..."
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Now the dart is getting back
like a boomerang
====
El banco
ladrón tiene la culpa: “the explosive inequality” se debe a ellos. Ahora no
tienen “rabo” donde esconder la cola.. y
ladran en calles como perros del hortelano
Volcker
decided that the working class needed to pay the price of victory against
inflation. He aimed at breaking the power of organized labor, and just after
being appointed as FOMC Chair declared “The
standard of living of the average American has to decline”.
====
IPO : Initial Public Offering
It was the worst of times for the IPO market in 2019. Can 2020 be the best of times?
With Plenty Of
Money And You
It has been quite the year for American financial markets. Across the board, nearly every asset class performed well,
from the U.S. dollar to precious metals to energy (except natural gas). If
you put money in the stock market – whether it was an exchange-traded fund
(ETF) or Treasuries – you likely enjoyed a return on your
investment. Considering how the
Dow Jones, Nasdaq, and S&P 500 each recorded all-time highs in 2019, it
would seem counterintuitive that IPOs would drown in an ocean of red ink. But
here we are. UNFORTUNATELY for the IPO class of 2019, it was the worst of times – can
2020 be an improvement?
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US
DOMESTIC POLITICS
Seudo democ duopolico in US is obsolete; it’s full of frauds
& corruption. Urge cambio
Grandstanding was rampant, as one might expect.
====
Canción del ‘stinky-happy’: con esta sí, con esta
no, con esta ‘pedo-si-ta’ me caso yo
Pelosi claims that the deal she agreed was “infinitely better” than the original agreement
made by Mr Trump...
====
Si de
abusos se trata pido que hablen las madres de niños encarcelados por migrar
"...one of most
egregious episodes of misconduct in the modern history of
congressional oversight."
====
FISA : Foreign
Intelligence Surviliance Act
No, not the
Bernie thing...
====
TIT
FOR TAT.. lo que va regresa: como
pendulum o como boomerang
"It’s
incredible, far worse than what I ever thought possible."
….
No es un intento de golpe, es golpe en proceso (es la parte final del
drama) y solo QUEDAN DOS OPCIONES: 1- Trump debe anunciar su inmediato
retiro y el de todo su equipo de Gobierno. Eso crearía un vacío de poder que él
podría negociar para reinvindicar su figura política.
Como el contexto político ya esta dividido y el enfrentamiento caótico y
violento entre REPs y Dems o entre la Iz (pro socialism) y la ultra-derecha conservadora
es segura, lo que TRUMP tiene que hacer es VIABILIZAR
LA PAZ (me retiro a condición de que se depongan las armas del
violentismo). SU MENSAJE a
favor de la paz interna y mundial debe
ser clara y contundente.
Debera pedir INMEDIATAS ELECCIONES que : A-estén libre de la compra de votos por Fundaciones
& Corp y B- que sea incluyentes (fairnes) de
forma que se asegure la 3ra option en el reparto del poder politoo
a nivel Estatal y Federal. Debera asegurarse el 50% de poder a quien tenga las mas
votacion. El 30% para el 2do y el 20% para la 3ra option , cualquiera se
# de votos que los 3 hayan obtenido. Free &
Fairness debe ser el 1ro de los 7 principios que senialo R Dahl para una
verdadera democracia.
A nivel Internacional Trump debe pedir que NATO u OTAN sea
desmantelado y que la ONU llame de inmediato una
Asamblea para acordar el desmantelamiento nuclear y
anexos. Solo asi la figura politica de Trump será reinvindicada y el pasara
a la Historia del US y el mundo con Honor.
Es mi modesta opinión.
Hugo Adan
Estoy listo a
sustentar detalles: 215-285 7235
Llame 2 veces con lapso d 5’ Enviar pasajes si la conversa va a
ser fuera de Pittsburgh
====
"The report is triumph for
former House Intel Chair Devin Nunes, who first blew the whistle on FISA abuse... and an excoriation of Adam Schiff and his 'memo'
of Feb 2018"
====
Gun violence in US is UP.. It is an effect of Trump’ policy:
spend in guns & war abroad
At least
one cop and one civilian have been shot dead? .
….
If this continue we will see police
statiosn blowing up as happen in Mx plus ++
====
La tragedia
es que aun ‘T’ siga en el poder. La guerra civil es lo que viene si él se
queda.
Support for impeachment, regardless
of political affiliation, peaked in October...“THAT IS A TRAGEDY.”
….
Trump sufre la arrogancia de los ricos: se creen necesarios
donde no lo son
====
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
Como nos
disgusta que China suba.. PUERCOS! Les gritamos. Y los Pork se quedan n US
China's pork hyperinflation continues
to keep a heavy lid on how much credit Beijing can inject to
stimulate the economy...
====
"Greta
said that the Indians died because they were defending the Amazon..."
----
Greta is right: Y see it among the
Ashaninkas in the South Jungle or Peru. The Natives stop ‘investors’ in ‘palma
aceitera’, the pretext to clean & “burn trees” They need space for helicopters
and avionetas, said the police, but the real aims was drug trafficking. Many
Natives die in this fight but in the south of Peru natives succeed. The care of
the jungle by natives is a key component of their religion (a mix of panteismo
with Christianity). In the jungle todos deben cargar carabinas
windchester pero solo para asustar a los leopardos y otros .. no para matarlos.
Esta prohibido matar o herir esos animales. No atacan a los seres humanos,
escapan cuando ven el fuego de las carabinas. Se debe disparar al aire. Yo me
sentí seguro con los nativos y goce las maravillas de la jungla. Si hay WW3 me
voy a la jungla de Quillabamba en Cusco.Y me llevo 12 US citizen.
====
Como nos
gusta atacar Naciones en Desarrollo. Gozamos con el sufrimiento ajeno...
Strategically, economically and politically, the Islamic Republic of
Iran seems to be in almost desperate
straits...
…..
Pero ahora que se armaron, los Iranios se sienten como David frente
Goliat y en una guerra no hay enemigo chico decía el genio Von Clausewitz. Los
dardos envenenados causan más muerte que un cañonazo, dicen los nativos de Perú.
====
Whistleblower'
and informant testimony confirms another "Pentagon Papers" mass deception..
====
The
international struggle for military supremacy in the Arctic has just risen to
absurd new heights.
====
SPUTNIK
and RT SHOWS
GEO-POL n
GEO-ECO ..Focus on neoliberal expansion
via wars & danger of WW3
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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
Chile: ¿Protestas sin forma o nuevas formas de org? Paula y Emilia
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INFORMATION
CLEARING HOUSE
Deep on the
US political crisis: neofascism & internal conflicts that favor WW3
- Assad: Europe was the main player in creating
chaos in Syria By Pres al-Assad
- RU–Israel Rapprochement for “Coordination” on
Syria? By Peter Koenig
- U.S. officials lied about the war in
Afghanistan By Craig
Whitlock
- Jewish players in the Trump impeachment
hearings By Ron Kampeas
- Why Impeachment Not Feel Like a Defeat for
Trump? By Jim Geraghty
- What is the Democratic Party today? By James Howard
- The Great American Shakedown By Chris Hedges
- US political system has been 'hijacked' By Michael Douglas
- Will Artificial Intelligence Destroy Us or
Simply Make Humans Irrelevant?
By Paul Craig Roberts
By Paul Craig Roberts
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COUNTER PUNCH
Analysis on US Politics & Geopolitics
John Grant American
Culture Loves a Good Killer
Jack Rasmus Trump vs.
Democracy
Walden Bello Capitalism
with Chinese Characteristics
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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
Amy Goodman’ team
- “Listen
to Mother Earth”: Indigenous Youth Leaders at COP25 in Madrid Protest Fossil
Fuel Extraction
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PRESS TV
Middle East n world news
- French general strike sees second day of huge demos
- 6 killed in New Jersey shootout, including police officer
- Iran issues travel advisory for citizens not to visit US
- 'US seeks to make Iranians bow to sanctions'
- Turkey to settle one million Syrian refugees in NE Syria
- Thousands rally against Czech PM over fraud charges
- Shabab militants attack hotel in Mogadishu
- Alberto Fernandez sworn in as Argentina's new president
- House Democrats unveil Trump impeachment charges
- PROGRAMS
- Hypermilitarized Society
- NHS in danger
- Syria: US under attack
- US war in Afghanistan: At war with the truth
- World weapons sales
- Iran’s defense ranking
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