JUL
29 20 ND SIT EC y POL
ND denounce Global-neoliberal debacle y propone State-Social
+ Capit-compet in Eco
"We're partying too much, social gatherings are too large..."
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ZERO HEDGE ECONOMICS
Neoliberal globalization is over. Financiers know it, they
documented with graphics
by Tyler Durden
And the
real shocker: new taxpayer capital will come in junior to the existing insolvent debt. One really can't
make this shit up anymore.
Well, with everyone and everything
else getting a bailout, may as well go all the way.
Two months after we
reported that the state of California is trying to turn centuries of
finance on its head by allowing businesses to walk away from commercial leases
- in other words to make commercial debt non-recourse - a move the California
Business Properties Association said "could cause a financial collapse",
attempts to bail out commercial lenders have reached the Federal level, with the WSJ reporting that lawmakers have introduced a
bill to provide cash to struggling
hotels and shopping centers that weren’t able to pause mortgage payments after
the coronavirus shut down the U.S. economy.
To be sure, the commercial real estate market is imploding, and
as we reported at the start of the month, some 10%
of loans in commercial mortgage-backed securities were 30 or more days
delinquent at the end of June, including nearly a quarter of loans tied to the
hard-hit hotel industry, according to Trepp LLC.
SEE Chart
Percentage
of CMBS market as 30+ days delinquent
"The
numbers are getting more dire and the projections are getting more stern,"
said Rep. Van Taylor (R., Texas), who is sponsoring the bill alongside
Rep. Al Lawson (D., Fla.).
Under the proposal, banks would
extend money to help these borrowers and the facility would provide a Treasury
Department guarantee that banks are repaid.
The funding would come from a $454 billion pot set aside for distressed
businesses in the earlier stimulus bill.
The proposed facility would instead structure the cash infusions as
preferred equity, which isn’t subject to the debt restrictions."
While it is unclear if this bill
will pass - at this point there is literally money flying out of helicopters
and the
US deficit is exploding by hundreds of billions
every month so who really gives a shit if a few more billionaires are bailed
out by taxpayers - should this happen, well readers
may want to close out the trade we called the "The Next Big Short",
namely CMBX 9, whose outlier exposure to hotels which
had emerged as the most impacted sector from the pandemic.
See Charts :
Alternatively, those who wish to piggyback on this latest egregious abuse of
taxpayer funds, this crucifxion of capitalism and latest glorification of moral
hazard, and make some cash in the process should do the opposite of
the "Next Big Short" and buy up the BBB- (or any other deeply
impaired) tranche of the CMBX Series 9, which will quickly soar to par if this
bailout is ever voted through.
See Chart:
CMBX
S9 BBB-
….
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As one
would expect, markets were dominated today by Powell's words with gold and
stocks rising after the FOMC statement:
See Chart:
Powell initially
promised The Fed will "do whatever it takes for as long as it takes" and
stocks and gold spiked.
Everything was fine
until Powell reiterated a statement on the pace
of recovery slowing and everything reversed.
But then Powell
promised to "adjust forward guidance and
asset-buying if needed" and the market assumed that if the recovery is slowing that can only mean MOAR!!!!
And stocks
rallied back to their highs with Small Caps dramatically outperforming (as
The Dow lagged)...
See Chart:
Expectations were
high.. and met for now... but watch the next few days...
“The market was operating under the assumption
that the Fed will do whatever it has to do to support the market” and policy
makers “didn’t disappoint on that front,” said Phil Toews, chief executive and lead
portfolio manager of New York-based Toews Corp., which manages $1.9 billion.
“If markets falter over the coming months, the
ability of the Fed to act as a put under the markets will be tested,” Toews
said via email; "if markets begin to fall
despite the Fed’s bond-buying power, it would be a tipping point that would be
a huge sell indicator."
Despite the sudden
spike on Powell's "slowing" comments, the
Dollar ended lower on the day (the 8th down day of the last 9)...
See Chart:
Bloomberg
Dollar Index
Spot Gold
spiked back up to record highs (Dec Futs near $2000)...
See Chart:
Treasuries
were bid and are now all lower on the week led by the belly of the curve...
See Chart
with UST 10Y
Yield dropping back to its 2nd lowest yield close in history...
See Chart:
And UST 5Y
yields tumbled to new record low...
See Chart:
And 10Y
real rates plunged to record lows (-96bps)...
See Chart:
While
stocks remain near record highs...
See Chart:
Nasdaq vs 10Y
Yield
Gold
surged as real yields tumbled...
See Chart:
Finally,
it's all about fun-durr-mentals, right?
Source:
Bloomberg
Oh and
there's this...
See Chart:
Pretty
much sums it all up really.
….
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With a debt
burden of $192 billion US, Germany's auto giant Volkswagen Group is the most
heavily indebted enterprise in the world.
Submitted by KryptoSzene
With a debt burden of $192 billion
US, Germany's auto giant Volkswagen Group is the most heavily indebted
enterprise in the world. This can be seen in a new infographic from
Kryptoszene.de.
As the "Corporate
Debt Index" data show, two other German
groups, in addition to Volkswagen, are among the ten companies with the highest
debt burden: Daimler and BMW have debt of $151 and $114 billion US respectively.
An analysis of financial data from the 900 largest companies by market
capitalization reveals that US companies carry the
largest debt burden overall, while Germany and companies based there rank
second.
SEE CHARTS AT:
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Euro: 12 year old
downtrend line narrowly broken
Ending the third week of July, euro closed at 1.1656 which is above its
weekly closing resistance line at 1.1644 (a small bullish breakout).
See Chart:
DXY:
Getting close to a breakdown
See Chart:
BBDXY:
Marginal bearish breakdown
Should this be true, the next medium term support is the Fibonacci
retracement at 1144 and the 2018 lows at 1120.
See Chart:
Gold: Highest weekly
close on record, now what?
At the risk of over simplifying, a chart that is smiling should be
bought and held. Our target range from over a year ago is $2114-2296 however using the
below we can calculate a few more
levels to be aware of including 2379 and possibly 2691.
See Chart:
$/JPY: 106 sort of
mattered but not as much as this
This was the same weekly closing value in March 2020 and in August
2019. In March 2018 it closed at 104.74. So there is still some support nearby and is probably why $/JPY hasn't
sold off more from a technical view on the break of 106.
A descending triangle pattern (unconfirmed until a break
happens) implies a break lower could follow with 100.72 and 94.85 possible.
See Chart:
….
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US
DOMESTIC POLITICS
Seudo democ duopolico in US is obsolete; it’s full of frauds
& corruption. Urge cambio
I WILL GET THIS plus a police
uniform.. can Dr Fauci suggest me the best Bank to visit?
"If
you have goggles or an eye shield, you should use it...but if you really want to be complete, you should probably use it if
you can..."
….
Agree with the intention.. hay que impedir que a los bancos los asalte el
CV-19
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"...a devastating policy
error..."
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What? Florida infested by flatulent
bombs from British Queen? Si apestan esos pedos
"...a significant
leak."
….
De tanto oler las inmundicias de su reina los ingleses se volvieron
dementes
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I want a list of recipients of QEs
& Bailouts, I want to stimulate them with my FAL-16
These benefits are not a "life preserver," but a job-killer...
…..
I want to stimulate them and tax
evaders too. Rich Putos don’t pay taxes. Hay que despacharlos
al infierno cantándoles the melody ‘GOD BLESS KKKA’
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78,064
Public Employees With $100,000+ Paychecks
Cost
Taxpayers $12 Billion.
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Unfortunately, the truth is that all
of the things that once made America so great are slipping away from
us a little bit more with each passing day...
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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
“We are on alert, conducting surveillance, patrolling to avoid an
incident...”
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Global Times issues hugely provocative tweet & report: "Rumors say the US could launch attacks
on Chinese islands and reefs in the South China Sea..."
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"The
key requirements for a vaccine are its proven effectiveness and safety so
everything needs to be done very carefully and accurately..."
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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
RT EN ESPAÑOL
Acusan de "monopolio" a Zuckerberg por
decir Facebook "podría comprar cualquier 'startup' compet" https://actualidad.rt.com/actualidad/361545-acusar-monopolio-zuckerberg-correos-facebook-comprar-competencia
Trump acusa a Berlín de ser "muy
delincuente" en pagos a OTAN, tras retiro de tropas de Alem https://actualidad.rt.com/actualidad/361549-trump-acusar-berlin-delincuente-pagos
Irán lanza misiles balísticos "desde las profundidades
de la tierra" https://actualidad.rt.com/actualidad/361551-video-iran-disparar-misiles-balisticos-silos-subterraneos-bombardear-isla
Trump firma un decreto que permite exportar el crudo
de Texas a México https://actualidad.rt.com/actualidad/361537-trump-anunciar-firmar-decreto-permitir-exportar-crudo
US indica que el incremento de casos de CV empieza a
"pesar" sobre la econ nac https://actualidad.rt.com/actualidad/361547-reserva-federal-eeuu-coronavirus-economia
Un hombre pasa 64 días en un hospital pierde casi todos los dedos por el covid-19 https://actualidad.rt.com/actualidad/361523-hombre-perder-dedos-pasar-64-dias-hospital-covid19
Maduro confirma reunión con Noruega sobre un posible
diálogo con la oposición https://actualidad.rt.com/video/361558-maduro-confirma-reunion-noruega-tratar-dialogo
Incendios en Brasil arrasan los humedales más
grandes del mundo https://actualidad.rt.com/video/361544-fuertes-incendios-arrasan-humedales-grandes
US registra casi 1.600 muertos diarios por covid-19
y el total supera los 150.000 https://actualidad.rt.com/video/361529-eeuu-registra-1600-muertos-diarios
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INFORMATION CLEARING HOUSE
Deep on the US political crisis: neofascism & internal
conflicts that favor WW3
- Bellicose anti-CH and anti-RU Rhet is Meant
for Us, Not Them By Tony
Kevin
- US Arrogance is a Gas By Finian Cunningham
- RU and next Presidential election in USA By The Saker
- America’s Social Hell By Chris Hedges
- White Supremacy Shaped American Christianity,
By Carol Kuruvilla
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VOLTAIRE NET ORG https://www.voltairenet.org/en
The temperature
in some Iraqi cities, usually around 45° C in the shade during the summer, has
hit a dramatic new high this year. Several cities have recorded averages above
50° C in the shade for more than 30 days, with the temperature failing to drop
below 30° C at night.
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DEMOCRACY NOW
Amy Goodman’ team
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