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 crisis: buying 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...
====
The billonaires game is over,
they move to gold, BUT you can buy gold pennies too
====
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.
…..
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.
….
Trump is not Agst his own policy, he want to hide its
stupidity whit a BIG LIE
====
It’s a
recipe for the end of democracy in
America. But it also serves as a roadmap
to recovery...
====
NJ Gov. Phil Murphy on Saturday
signed an executive order barring citizens from leaving their homes unless
they're part of the "essential" workforce...
====
“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,”
….
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.
====
"Neither Pres. Trump nor VP
Pence had close contact with the individual."
====
US FASCISM AT PORTAS:
Never let a good crisis go to waste...
….
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!
====
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...
….
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
====
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...
====
"...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."
====
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.
====
"This essentially paves the way for unlimited
borrowing."
====
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
US imperialism exploits coronavirus as a
weapon of war By Bill Van
Auken
US Weaponizes COVID-19 to Cripple Iran By Jasper Hamann
Coronavirus Is Not “The Plague”: It Is the
U.S. By Edward Curtin
Fed Reopens Its Landfill for Distressed
Assets By Mike Whitney
Roubini warns on 'severe' coronavirus
recession By Julia La Roche
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COUNTER
PUNCH
Analysis on US Politics &
Geopolitics
Rob Urie The
Virus and Capitalism
Jeffrey St. Clair Roaming
Charges: Always Look on the Bright Side of Death
Paul Street Survive and
Revolt
W. T. Whitney Fighting
CV in Cuba, China and the United States
Andrew Levine Sanders
v. Warren: Why It Still Matters
Howard Lisnoff Living
at the End of the World
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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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