JUL
8 20 ND SIT EC y POL
ND denounce Global-neoliberal debacle y propone State-Social
+ Capit-compet in Eco
Cuomo says
schools in his state in certain areas will be allowed to reopen on July 10
(with proper precautions) as parts of the state enter 'Phase 4' of the reopening.
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ZERO HEDGE ECONOMICS
Neoliberal globalization is over. Financiers know it, they
documented with graphics
The B-dollar Index DOWN. It was
dumped overnight (following chatter of US attacks on the HKD peg) and extended
losses during the day...
See Chart:
"I love the smell of burning
credibility in the morning..."
CHART BLOCKED
And gold spiked further (spot back
above $1800)...
See Chart:
Chinese stocks were up again
overnight...
See Chart:
TSLA dared to drop today
As Nasdaq pushes on to record-er and
record-er highs, the median US stock is back near two-month lows...
See Chart:
Stocks and bonds remain gravely decoupled...
Treasury yields down though were
very modestly higher today (2Y unch, 30Y +1bps) remaining lower on the week at
the longer-end...
See Chart:
WTI dropped right after the
unexpected (and large) crude build but the machines rejected that and sent it
back above $41...
See Chart:
Finally, we ask, is the world losing
faith in fiat?
See Chart:
USD vs FIAT and
USD vs Gold
….
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This is
madness.
….
Those who have been following the
record surge in US public debt (excluding the roughly
$100 trillion in off-balance sheet obligations), which exploded by $3 trillion in just the past three months and hit an all
time high $26.46 trillion on Tuesday, will likely have some inkling that the US
budget deficit in June will be staggering.
See Chart:
Total US
Debt
We can now confirm that: in its
preview of the June budget deficit, the CBO
reported that last month the
US spent a record $1.105 trillion, an increase of $763 billion from last year...
See Chart:
Federal Gvt
Expending
... while receipts shrank by $92
billion from a year ago to $242 billion, which on an LTM basis was $3.1
trillion, an 8.3% decrease Y/Y, the largest since the
financial crisis and clearly confirming the US is in a recession.
See Chart:
Federal
Govt Receipts (12 Million Rolling) Y0Y
This means
that the June budget deficit was a mind blowing $863 billion, an increase of
101x compared to the $8 billion deficit in June of last year.
See Chart:
Record $863
Bill Deficit
Putting
June's deficit in context, it was greater than the full year deficit recorded
in 2018, and in fact in any year from 2013 to 2017. It is also just $120BN shy
of the $984BN full year budget deficit recorded last year when so many fiscal
conservatives slammed Republicans for going crazy with spending on Trump's tax
cuts. Little did they know what was about to hit.
SOME MORE DETAILS ON THE BREAKDOWN.
Outlays by the Small Business Administration increased from $80 million
to $511 billion.
Outlays for unemployment compensation increased from $2 billion in June
2019 to $116 billion this year.
Outlays for the Public Health Social Services Emergency Fund totaled $14
billion this June
Outlays from the Department of the Treasury’s Exchange Stabilization Fund
increased from –$29 million to $9 billion
Spending for Medicaid was $9 billion higher this June than last June for
three reasons
Spending for the Food and Nutrition Service was $5 billion higher—$13
billion in June 2020 compared with $8 billion in June 2019—
Outlays for the Coronavirus Relief Fund, authorized by the CARES Act to
provide grants to state, local, tribal, and
territorial governments to offset pandemic-related expenses, totaled $3 billion
in June
Outlays for the Department of Education rose by $44 billion
Payments for interest on the public debt decreased from $40 billion in
June 2019 to $18 billion this year
Outlays for the Department of Housing and Urban Development decreased by
$14 billion
For the
first 9 months of fiscal 2020, the federal budget deficit was $2.7 trillion,
$2.0 trillion more than the deficit recorded during the same period last year.
See Chart:
Monthly
Cumulative Deficits Fiscal Yeasr 2019-2020
Revenues
were 13 percent lower and outlays were 49 percent higher through June 2020 than
during the same nine-month period in fiscal year 2019.
See Chart:
Cumulative
Fiscal Budget Deficit ($BN)
At some
point the market will realize that this insanity is simply unsustainable. And,
in fact, looking at the surge in the price gold, that realization may not take
too long.
….
SOURCE: https://www.zerohedge.com/markets/us-budget-deficit-hits-record-863-billion-june-100x-increase
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The unprecedented implosion of U.S. commercial
real estate during the coronavirus pandemic is likely to get worse
as newly delinquent CMBS loans are surging as the list of retail store
closures continues to rise.
Trepp's June CMBS
remittance report showed CMBS
delinquencies hit a high of 10.32%, not seen since 2012. It was noted that
that retail CRE loans were in rough shape.
See Chart:
Percetage of CMBS Marke at 30 days
delincuent
Big
Forbes' Store Closure List In 2020
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SOURCE: https://www.zerohedge.com/markets/retail-apocalypse-accelerates-8700-stores-closing-number-set-rise
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Is the worst of
the economic collapse over?
Not really. The economy is off the bottom, but that’s only to be
expected after the historic collapse of March–May and the stock market crash in
March and April.
The question now is not whether we’re growing
again. We are. The questions are how fast is that growth, and how long will it
be before we return to 2019 levels of output?
Recent data suggests that we may not reach
2019 output levels until 2023 at the earliest, and that something close to full
employment may not return until 2025.
SIMPLE EXAMPLES WILL MAKE THE POINT: READ coming subtitles’ content
Just Not Enough Growth
Worse Than a Technical
Recession
The New Depression
Defining Depression
Depressions Leave Lasting Impressions
The Great American Exodus
American families are leaving dysfunctional
cities such as New York City, Seattle and San Francisco and heading for
Montana, Colorado, Maine and upstate New York in the Catskill Mountains among
other safe havens.
Investors Will Learn the
Hard Way
No one under the age of 90 has ever
experienced a depression until now.
But they’re going to find out, and probably
the hard way.
….
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Our society has a legal structure of self-rule
and ownership of capital, but in reality it is a Neofeudal Oligarchy. The
decline is visible, and so is the trajectory to collapse.
SEE CHART:
Price changes (1996- 2016) : more expensive
& run by cartels
We got your neofeudal wealth inequality right
here:
SEE CHART:
Wealth
Inequality
The fruit of Financialization: Soarin
Income Inequality
See Chart:
….
SOURCE: https://www.zerohedge.com/markets/american-economy-four-words-neofeudal-extortion-decline-collapse
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US
DOMESTIC POLITICS
Seudo democ duopolico in US is obsolete; it’s full of frauds
& corruption. Urge cambio
TAX EVASION ++ IS HE GOING TO JAIL?
So much for
that campaign to convince Penn to rescind Trump's diploma..
And just like that, any hopes of
convincing Penn to rescind the president's diploma have
crumbled into dust.
But we seriously wouldn't be
surprised if a relative of Shapiro came forward to confirm the tale, perhaps claiming that it had become family lore, or
something, given Trump's celebrity status.
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BIDEN-SANDERS-VP
the FORMULE TO DEFEAT TRUMP.
Then we will vote in this
election. Otherwise: ABSTENTION!
Hugo
Adan
7/8/2020
AT: https://nd-hugoadan.blogspot.com/
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The global phenomenon is clashing
with a new brand of militant
identity politics
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There
are no moderate, mainstream
centrists in the US-centralized empire.They do not exist...
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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
Lockheed, Raytheon, BAE Systems?...
Because everyone else is lining up at the trough, apparently.
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“China is almost out of space to
hold the oil that domestic traders bought at bargain-basement prices earlier
this year when the Covid-19 pandemic crushed global crude demand.”
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SPUTNIK and RT SHOWS
GEO-POL n GEO-ECO
..Focus on neoliberal expansion via wars & danger of WW3
- Militants Continue to Shell Settlements in
Syria's Idlib, Aleppo and Latakia, Russian Military Says
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NOTICIAS IN SPANISH
Lat Am search f alternatives to neo-fascist regimes &
terrorist imperial chaos
REBELLION:
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INFORMATION CLEARING HOUSE
Deep on the US political crisis: neofascism & internal
conflicts that favor WW3
US war against China accelerates By Peter Symonds
The Latest 'Russiagate' BOMBSHELL By Moon Of Alabama
To Joe Biden: Stop your blind support for
Israel By Medea Benjamin
UN: US murder of Q Soleimani broke
international law. By Scott Ritter
Israel's attacks on Iran's nuclear sites By Richard Silverstein
U.S. Econ in Four Words: Neofeudal Extortion,
Decline, Collapse By Ch Hugh Smith
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CROSS TALK https://www.rt.com/shows/crosstalk/
The New
York Times has acknowledged the dearth of real evidence behind their
allegations in June that Russia paid bounties to the Taliban to encourage the
death of US-led coalition troops in Afghanistan. Rick Sanchez explains. Then RT
America’s John Huddy provides the details before investigative journalist Ben
Swann and former Pentagon official Michael Maloof share their insights.
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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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