domingo, 22 de marzo de 2020

ND MAR 21 20 SIT EC y POL



ND  MAR 21  20  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

“It’s brutal. We have never seen such a big move in such a short amount of time,” This is the quickest and most severe I have ever experienced, and I was around for 2008."
For higher-risk 'junk' rated companies, the sell-off has been the most severe, with US high yield corporate bond risk topping 1000bps for the first time since 2009:
See Chart:
US HY  Corporate Bond OAS

In fact, all of the credit markets - from investment-grade corporates to off-the-run Treasuries and from leveraged loans to short-dated muni bonds - are all frozen...
See Chart:

As NBF warns "should leveraged loans go bad, that has potential to freeze the corporate bond market and the entire financial system." Well, they are going bad...
See Chart:
S&P LSTA Leveraged  Loan price Index

Commercial mortgage-backed securities are a bloodbath...
See Chart:
CMBX Series  6BBB  Tranche Price

And despite The Fed's muni-focused bailout, yields continue to soar...
See Chart:
10Y Muni  Bond Yield

Notably, the credit crash sending yields soaring worldwide has one silver-lining - the global volume of negative-yielding debt (the most irrational insane aspect of current capital markets) is evaporating...
See Chart:

As the volume of negative-yielding corporate bonds disappears:
See Chart:
Corporate Negate Yield debt

All of which is why policymakers are in full panic mode to do something about it with an unprecedented 42 rate-cuts since Feb 1st (note that there was only 36 cuts in the two months following Lehman's collapse).
As Bloomberg notes, this week alone has seen 39 interest rate cuts globally,with monetary-policy heavyweights like the Federal Reserve and the Bank of England to more peripheral central banks in Mongolia and Trinidad and Tobago slashing their benchmarks in emergency moves aimed at combating the economic meltdown from the coronavirus pandemic.
See MAP:

The average COVID-19-related rate-cut has been 70bps, sending the global monetary policy rate crashing to record lows...
See Chart:
Global Monetary Policy Rate

Many of the central banks went further than lowering borrowing costs - often now at record lows - and activated playbooks from the financial crisisbuying bonds, intervening in currency markets and setting up emergency loan programs for banks and companies.
“The bad news is that as policymakers roll out their responses, the extent of economic damage will be increasingly evident soon,” said Ebrahim Rahbari, Citigroup’s global head of currency analysis.
And if monetary responses were not enough, Fiscal Policy Initiatives from the G7 are growing by the day...

Cutting rates to zero, buying endless amounts of sovereign bonds, and inflationary intervention however does nothing to lower the funding costs of the average corporation as 'credit' risk perceptions are finally starting to creep into reality after years of central-bank-sponsored distortion.
See Chart:
Leverage  vs. High Yield  Credit

Finally, we note that policymakers' acceleration toward yield curve control, UBI, MMT, and direct industrial intervention (utterly unprecedented inflationary and demand-driven measures in a supply shock) are ultimately, as Daniel Lacalle noted previously, not only a mistake, but they are the recipe for stagflation and guarantees a multi-year negative impact generated by rising debt, weakening productivity, rising inflation in non-replicable goods while deflation creeps into official headlines, and economic stagnation.
All of which may explain why the sovereign credit risk of the USA is starting to rise...
See Chart:
USA  Sovereign 5Y  CDS
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The message may be that dealing with issues in individual money markets is a necessary condition for preventing further deterioration, but insufficient for repair.  
Heavy drinking at ECB USD liquidity source
The ECB has announced the results of its USD liquidity tender. $114bn was taken up by financial institutions.  .. The ECB’s hope is that -if it demonstrates that the liquidity is there in size-, the private sector may start re-intermediating. The tenders were at low rates considering market conditions, and offered at unlimited size, but the strategy is similar to the Fed’s – ask no questions, write the check.

The effect on the EUR-USD basis was immediately visible in a sharp narrowing in recent days.
See Chart:
Basis improves, but has not help  the EUR so far
Read more at:
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SHORT NEWS: good ones
...taking massive inflationary and demand-driven measures in a supply shock is not only a mistake, it is therecipe for stagflation and guarantees a multi-year negative impact...
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The billonaires game is over, they move to gold, BUT you can buy gold pennies too
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Bad News:
Those living paycheck to paycheck are the first to lose their jobs and have hours cut. They are justifiably worried...
A huge bad News:
"We’re just trying to cover the right bases," Larry Kudlow said.
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The worse is that nothing or very little comes to the bottom: See one case of many in Pittsburgh  PA.. below
Last bad news
Over a month ago the repo market suddenly suffered its biggest cardiac arrest when overnight repo rates exploded from 2% to 10% in an instant.   Who  create this crisis? The worst billionaire in America :  JPMorgan  who quietly and steadily was withdrawing liquidity from money markets...  JPMorgan and all other US commercial banks happen to own the Fed  The liquidity create by Trump went to their pockets, and Trump just promised to stop them.  Should we trust Trump?  ..  Up to you.
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US  DOMESTIC POLITICS
Seudo democ duopolico in US is obsolete; it’s full of frauds & corruption. Urge cambio

QEs & bailouts is the main Eco- Policy of US.’Invest’ got it & buy-sell to recycle USDs
Before Trump slams those "greedy" corporate CEOs for doing merely what capitalism said was in their best interest, he should look in the mirror and consider who green-lighted this entire stock repurchasing bonanza.
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Trump is not Agst his own policy, he want to hide its stupidity whit a BIG LIE
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It’s a recipe for the end of democracy in America. But it also serves as a roadmap to recovery...
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NJ Gov. Phil Murphy on Saturday signed an executive order barring citizens from leaving their homes unless they're part of the "essential" workforce...
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“There is no need right now to have 450,000 Guardsmen on duty in any given state.”  Amid rumors the White House has plans to mobilize the military on a federal level, the National Guard Bureau chief is hitting back against discussions to activate the guard. 
National Guard Bureau Chief Gen. Joseph Lengyel told reporters at a Pentagon press briefing on Thursday that federalizing the National Guard to fight the Covid-19 pandemic would ultimately prove illogical and inefficient, as it was designed fundamentally for a state and local response.  “There is no need right now to have 450,000 Guardsmen on duty in any given state,”
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I don’t think the intention is to fight the Covid-19 pandemic .. There are 3 issues  connected to it:  1- Peoples REV against the LACK OF HEALTH SYSTEM to face the pandemic CV. 2- Peoples REV against WW3, that will be worse than current pandemic. 3- Cancelation of Election 2020 because of above issues.
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"Neither Pres. Trump nor VP Pence had close contact with the individual."
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US FASCISM AT PORTAS:
Never let a good crisis go to waste...
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The #1 hidden purpose is to implement WW3.. we are ready to nuke RU-China and plunder  their gold and destroy their OIL power. 40,000 troops has been already set for this operation. RU-China  are ready to respond, MAD will be the result. As soon as the WW3 start (nobody knows yet what pretext the US-NATO will use) hundreds of US embassies and US companies will be bombed, this will be a natural effect of the hate accumulated against US during the Trump period (invasion-wars on poor countries like Siria, Libia, Irak, Iran y Afghanistan & Venezuela.. plus the piracy of financial sanctions to many countries). Since no way to bring the C V-infected US soldiers back to US,  it has been decided to sacrifice them in WW3. To the pandemia corona virus we decided to create the most horrendous  pandemia: WW3.  How Americans will react to this?  At the beginning will be stupid chauvinism pro-war. When RU-China respond with huge ferocity to US and main NATO countries worldwide.. the people will demand PEACE and negotiation.. and that will be late. WW3 damage is done and its effect will last forever.  One week of nuke world will last hundred years.  This is the main intention of FASCISM today.  AMERICAN: TAKE STREETS Agst FASCISM NOW!
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IN PITTSBUGH PA: Nothing-below  to solve the coronavirus problem
...there’s a fine line between maintaining our constitutional rights and the need to stop a global pandemic...
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ONE CASE OF MANY:  In one side of the house located in 316 Ophelia Street . Pgh PA 15213, there is a big amount of garbage with rats, racums & other roedors infesting the hood for 4 consecutive weeks. We neighbors paid the cleaning  before but happens again during 4 weeks. I made the complain to 311 for the authorities to take action on this, but nothing so far. On Monday I will present this case to a Judge in the Court Agst two authorities concerned with this issue: Mr Hain, the boss of Enviromental Services and Agst Mrs Amy Aivoska the boss Inspector. IF the Court do nothing on this regard I will go to other authorities. I saw some of the Chinese leaving in 316 Ophelia  abandon the house because neighbors were yelling to them. BUT new chinese people is coming. The owner is from China too and leaves in NY. The house in 316 has a manager BUT she refuse to talk with neighbors on this issue.  Hugo Zegarra
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This pandemic is going to change life in America permanently, and the truth is that COVID-19 is just one element of “the perfect storm” that is now upon us...
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"...shortages bring a whole new meaning to the word 'recycling'..."
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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

"This action will not stop the ongoing tit-for-tat between China and the United States, and may escalate it."
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With New York City now clearly the epicenter of the coronavirus outbreak in the United States — as of Friday reporting 5,683 cases and 43 deaths — United Nations diplomats from various countries are pushing to suspend in-person voting and sessions. 
Most United Nations Security Council members are already pushing to vote in teleconferencing only and to rely on virtual meetings, however, Russia is reportedly blocking the initiative
The Russian position as articulated by its Ambassador Vassily Nebenzia, is tha tthe UNSC Chamber is “one of the safest venues” in New York City and “the risk of getting the virus there is much lower than when we go to a shop for basic needs.”… “We shouldn’t be afraid to gather from time to time in UNSC Chamber,” Nebenzia said.
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"This essentially paves the way for unlimited borrowing."
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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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NOTICIAS IN SPANISH
Lat Am search f alternatives to neo-fascist regimes & terrorist imperial chaos
REBELION

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RT EN ESPAÑOL
"Lo peor está por llegar": Pedro Sánchez habla de la crisis del CV en España https://actualidad.rt.com/actualidad/347079-pedro-sanchez-actualizacion-coronavirus-espana
US da luz verde a diagnóstico rápido que puede detectar el CV en menos de una hora https://actualidad.rt.com/actualidad/347077-eeuu-da-luz-verde-primera
Pekín arremete contra Washington por su retórica "racista" del coronavirus  https://actualidad.rt.com/actualidad/347038-china-arremeter-eeuu-retorica-racista-coronavirus
Shock' de suministros, declive de mercados y crisis global: valorado por el FMI Shock' de suministros, declive de mercados y crisis global: el FMI https://actualidad.rt.com/actualidad/347058-economia-mundial-coronavirus
"De la mejor econ a la peor en dos meses": el CV en US es más rápido de lo previsto https://actualidad.rt.com/actualidad/347090-eeuu-economia-desempleo-coronavirus-recesion
Nueva York supera los 10.000 casos de infectados por coronavirus https://actualidad.rt.com/actualidad/347076-diez-mil-infectados-nueva-york
En los tiempos de coronavirus, ¿quién se beneficia con la pandemia?  https://actualidad.rt.com/video/347068-tiempos-coronavirus-beneficia-pandemia-economia
Es la hora de la condonación de la deuda para América Latina https://actualidad.rt.com/actualidad/346944-hora-condonacion-deuda-america-latina
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INFORMATION CLEARING HOUSE
Deep on the US political crisis: neofascism & internal conflicts that favor WW3


Neoliberalism’s Death Knell?  By Michael Hudson
The Train-Wreck Abroad Is Bipartisan  By P Giraldi Trump- Biden are Zionists
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COUNTER PUNCH
Analysis on US Politics & Geopolitics

Paul Street  Survive and Revolt
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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

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