domingo, 5 de julio de 2020

JUL 4 20 ND SIT EC y POL



JUL 4 20 ND SIT EC y POL
ND denounce Global-neoliberal debacle y propone State-Social + Capit-compet in Eco

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1-
Fireworks storm –if not from official Inst- means storm of votes to electoral-box and it means also more votes for Trump. He end June with Z differ with Biden. Day Jul 14=T+
In short: ‘patrioterism’ paid off.  July 4th= day of national ignorance, said 1 art below.
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2-
Arizona reports another 2,700 cases while NY sees just 11 deaths
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3-
"When you subtract these out, you’re left with what we're calling excess ILI – cases that can't be explained by either influenza or the typical seasonal variation of respiratory pathogens.”
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ZERO HEDGE  ECONOMICS
Neoliberal globalization is over. Financiers know it, they documented with graphics

"More credit and more monetary stimulus in the form of QE, both imply more liquidity, i.e. extra money supply and cash balances, which in turn would result in more asset reflation." 
Last week the front end of the US Treasury curve (which is a far better signal of financial stress than the long-end which now is mostly a function of global QE) represented by the 1m OIS 2Y-1Y forward spread and which to the JPM quant "is a better signal of policy expectations", once again inverted, sending an ominous alert signal across asset classes.
See Charts:
Fig 1: 10Y UST Yield- Fed Funds rate
Fig 2: 1m US –OIS rate 2Y-1Y  Forward Spread

And while it probably wasn't the intention of JPM to spook clients and other investors, it appears that it did just that, because just two days after Panigirtzoglou published his ominous warning, the Greek JPMorganite is back with a report whose purpose is simple: to talk back all of the anxiety sparked by his observation that the front-end has inverted.

The argument is even simpler: there is too much debt, and too much liquidity, for stocks to drop. No really...
SEE KEY NOTE:

Yup: any other time the breakneck increase in public and private debt would have been a 140 dB warning claxon going off 24/7, but now - in a time of helicopter money and MMT - it is precisely what the central planning doctor ordered to make sure that stocks never again suffer even a modest pullback, and paradoxically, that's precisely what Panigirtozglou is pitching in his latest note, which ironically, comes just two days after the same JPM quant warned that the Fed had not done enough.

In all, adding $16tr of additional debt this year would raise the total debt in the world, private and government debt, to a new record high $200tr by the end of this year.  

Factoring in a decline to GDP by 5% this year, would raise the total debt to GDP ratio for the world as a whole by around 35 percentage points, from 243% at the end of 2019 to 278% by the end of this year.

 This 35% of GDP increase in global indebtedness is even bigger than the 20% of GDP increase seen in the year after the Lehman crisis.

There are three main implications from the big increase in global indebtedness  

  • First, the private sector would likely be inclined to save more in the future, sustaining the persistently high savings rates seen in the decade after the Lehman crisis. In turn, persistently high private sector savings rates would keep economic growth and inflation low and make it even more difficult for debt levels to decline vs. incomes in the future.
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  • Second, very accommodative central bank policy policies and low interest rates are likely to continue for a very long time to make it possible for both the government sector and the private sector to sustain their much higher debt levels. Indeed, Figure 1 shows that there has been an inverse relationship between debt levels and interest rates. 

  • The third implication is more liquidity. More credit and more monetary stimulus in the form of QE, both imply more liquidity, i.e. extra money supply and cash balances, which in turn would result in more asset reflation.
SEE CHART:
Fig 1: Global Debt Levels  vs Global Bonds Yields

The rapid increase in debt creation implies a rapid creation of liquidity both directly and indirectly. Bank lending creates money directly, and is how most money is created during normal times. This is because as a bank creates a new loan, it simultaneously creates a new deposit, and the increase in net bank lending in the economy essentially increases deposits by the same amount.

While bond issuance does not create deposits directly in the same way bank lending does, when QE purchases by central banks absorb (mostly government) bonds from the portfolios of private non-bank investors, such as pension funds, asset managers and insurance companies, which has been the case with QE so far, liquidity is being created.

This means that debt creation should create a similar amount of liquidity. Indeed, there has already been a significant expansion of global M2 as depicted in Figure 2, which converts M2 to US dollars using constant FX rates to abstract from the influence of currency fluctuations. It shows a sharp increase in M2 from the beginning of the year to end-May of around $6tr ex China or $8tr including China. 

But given that debt creation and QE will continue to be stronger than normal until 2021, we believe that the total money or liquidity creation could exceed $15tr or more globally by the middle of 2021.
SEE FIG 2

As a result of this liquidity creation, our estimation of the share of cash holdings in global non-bank investors’ portfolios, which rose sharply in March, remains well above pre-pandemic levels despite the nearly 40% rise in global equities that have seen equities retrace three quarters of their March drawdowns. 

And these elevated cash holdings create a strong background support for non-cash assets such as bonds and equities.  

But given how low bond yields are at the moment, less than 1% in the Global Agg bond index, we believe that most of this liquidity will eventually be deployed into equities as the need for precautionary savings subsides over time.

And so on. TL/DR: there is just too much debt in the world right now for either interest rates to go up again, or for stocks to go down. And that, being the dumbest yet perhaps most accurate analysis we have read in a while, is how virtually all strategists on Wall Street just became obsolete, because no amount of brilliant analysis will ever again top what is truly the bottom line for a world drowning in debt - the system will continue growing on the back of trillions and trillions in debt, until one everything comes crashing down.
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Sponsored Financial Content
Dr  Ron Paul New Video Message said: EVERY AMERICAN NEED TO PREPARE: 
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"That model can never ever win, as open markets are required to best drive price discovery, allocation of goods, innovation and even democracy."
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“Q3 may yet prove too early, but the US dollar must roll over eventually. If nothing else, because we live in a world drowning in USD-denominated debt, both onshore in the US and globally – and any durable recovery has to see a devaluation of the US dollar in real terms in the US and in relative as well as real terms in the rest of the world.  

The risk of widening insolvencies and defaults will encourage an outright devaluation unlike anything seen since the post-World War II debt devaluation.
SEE CHART:
Global Liquidity Growth in US$ terms & world financial asset price

“The chief question is the time horizon, but Q3 will see pressure mounting on this front. Eventually, a devaluation will be achieved through the Fed more or less surrendering independence by enacting yield caps, or some other form of yield curve control, to allow fiscal spending unconstrained by considerations for whether “the market” can absorb the usual sovereign debt issuance used to finance spending.

“In FX, the losers will be the currencies with the worst financial repression and most aggressive MMT programmes. The relative winners will be economies with significant commodity potential. Current account considerations will also loom larger than they have in the past due to deglobalisation, slower trade and possibly reduced capital flows.
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US  DOMESTIC POLITICS
Seudo democ duopolico in US is obsolete; it’s full of frauds & corruption. Urge cambio

Most are adamant that the country is racist...
Watch the Full clip below: https://youtu.be/YC4Qg4IUkvY 
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When asked what the holiday commemorates and other details concerning the Declaration of Independence, most of those interviewed had no clue.

While some guessed that the US gained Independence after the Civil War, World War I, or even World War II, others complained that the ‘real’ history of America isn’t being taught in schools.

“I just know that teachers do not want to teach it,” one student claimed, with another ironically chiming in that “Everyone should learn about our history.”

“America was built off of slavery,” one respondent said when asked to justify why she believes the country is racist?.

Another respondent said President Trump is proof that the country is racist, and commented “Our country most definitely has a bad legacy.”
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The people who run this country have run out of workable myths with which to distract the public, and in a moment of extreme crisis have chosen to stoke civil war and defame the rest of us – black and white.
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"This has been a year like no other, and as Independence Day rolls around, I find myself looking at the whole thing differently than in years past. I still celebrate the freedom that I have but we’re watching it disappear at a such rapid pace."
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HERE MAIN SUBTITLES in this article:
We are weaker when we are divided.
2020 is the year that dissent has been silenced.  NO YET
Our political system is an outrageous mess.

A return to our natural human rights
The basics of our Bill of Rights
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We need to support the freedom of speech, even when it’s unpopular.
·         We need to demand a free media – no more propaganda outlets existing unchallenged by alternatives.
·         We need freedom of religion and freedom from religion – no theocracy was ever a just government.
·         We need to stop being taxed and legislated without real representation.
·         We need to have the right to protect ourselves with whatever force is necessary against anyone who would deprive us of our basic human rights to life, liberty, and personal property. And we need access to the tools to do so without the potential of felony charges just for owning those tools.
·         We need the right to be secure in our privacy instead of the technological surveillance net in which we currently find ourselves tangled.
·         We need to return to the due process of law, without exceptions like the NDAA and the Patriot Act, without civil asset forfeiture, without internet mob justice.
·         We need small, local governments that are more representative of the people in a given area instead of vast, federal overreach.
·         We need to all be treated with equal justice under the law – none of us are dispensable.

Remember that we have a government of consent. Their power is only lawful if we agree to their governance.

Remember who we are. Our ancestors were rebels. They were immigrants who sought to be free. They were the people who gave their lives for the freedom of others.

Be worthy of that legacy.

Last subtitle:
JULY 4, 2020
We stand when united.
But we will fall if we continue to be divided.

The message I have today is this:
Be strong. Be brave. Be one with your brothers and sisters. Stand up for the rights of others as well as your own. Remember who you are. Remember what it is to be an American. And let freedom reign again.
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“There was no British tyranny, and surely not in North America...”
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Tuve 1 Prof en Cs Pol que además de racism tenia la mente preñada de dogmas y uno de ellos se referia al tema “American Revolution”. . El profe tuvo que irse
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Des-colonization of American ‘minds’ still continue. This is one of positive effect of BLM
[ OUR INVENTED] ..   America's enemies couldn't be happier
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The happiest American enemies we have’re big Corp who profit Fneoliberal Sys
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We Need a similar tech in the  mind of owner of imperial Syst we have to avoid WW3
"These towers give agents in the field a significant leg-up against the criminal networks that facilitate the illegal cross-border activity." 
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Then we will have a new meaning to the story-tell “INVASORES INVADIDOS
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Why they’re worry to protect “Am Privacy”?  Because the Empire is going ‘a la merda’
The chips, roughly the size of a grain of rice, are implanted into the hands of employees and act as a replacement for I.D. badges, timecards, usernames and passwords...
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PUT THAT MICROCHIP in your ass ..  I suggest put in all PENTA members’ass too
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Fascism vs. des-colonization of America. Those who kill natives must be  venerated
"Angry mobs are trying to tear down statues of our founders, deface our most sacred memorials, and unleash a wave of violent crime in our cities."
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Fascism: "people who damage or deface federal statues or monuments will get a minimum of 10 years in prison." said Trump, the leader of Cultural Rev
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Who is this Hanson?  Ad Hominem  Master Degree? 
Stoke chaos, obstruct economic recovery, and hide Biden in the basement till Election Day...
Joe Biden is tragically suffering a mental eclipse and sliding away at a geometric rate. Understandably, his handlers have kept him out of sight. He stays off the campaign trail on the pretext of the virus and his age-related susceptibility to COVID-19 morbidity.
Often Biden cannot finish a sentence. Names are vague eddies in his mind’s river of forgetfulness. He is in a far more dire mental state than a physically failing FDR was in his 1944 campaign for a fourth? term.
[ Maybe Hanson is a Psychologist.. IF SO.. my apology ]
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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

"It's great more people are planting, but it cannot just be when there is a crisis"
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One among two brothers that ate marmot is in “very severe condition” with multiple organ failure...
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NASTY IMPERIAL AGRESSION:
Showdown in the Caribbean round 2.
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“The blast was caused by an explosive device planted inside the facility,” an unnamed intelligence official told the Times.
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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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ALAI NET ORG

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INFORMATION CLEARING HOUSE
Deep on the US political crisis: neofascism & internal conflicts that favor WW3

Barbarism Begins at Home  By Pepe Escobar
The Meaning of July Fourth for the Negro   By Frederick Douglass
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On the show this week, Chris Hedges discusses the nature of patriotism with West Point graduate and US Army combat veteran, Danny Sjursen.
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GLOBAL RESEARCH
Geopolitics & Econ-Pol crisis that leads to more business-wars from US-NATO  allies

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