AUG 2 20 ND 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
Since the
start of 2020, 51 SPAC offerings have been completed raising $21.5 billion, up
145% from the comparable year-ago period.
The similarities with the housing bubble boom-bust are
growing by the day. Not only are stocks at all time
highs, to which we can now add record low yields and an all time high gold
price as the 10Y real yield just dropped to an unprecedented minus 1% all time
low...
See Chart:
Equity over valuation composite
indicator
See Chart:
The last time we saw such a surge in SPACs? 2007.
And while the SPAC bubble burst in 2008 along with the rest
of the housing/credit bubble, it has slowly recovered, and as Goldman's David Kostin writes in his latest Weekly Kickstart,
SPAC capital raising has soared YTD.
See Chart:
Some statistics: since the start of 2020, 51 SPAC offerings have been completed raising
$21.5 billion, up 145% from the comparable year-ago period. In 2019, 51
SPAC IPOs were completed totaling $13.2 billion and 2018 witnessed 35 offerings
for $9.3 billion. SPACs have accounted for one-third of
all US IPO activity since the start of 2019.
See Table:
And while by definition a SPAC is a blank-check, it
comes with an embedded put option as Kostin explains:
- First, the right to evaluate the pending purchase and elect to hold or redeem the initial investment at cost (plus accrued interest) two days before the vote.
- Second, warrants.
The SPAC sponsor is
typically compensated with a promote equal to 20% of
pro forma equity and warrants.
So why the interest in SPACs?
As Goldman explains, from a capital raiser’s perspective
SPACs offer companies a path to the public markets as an alternative to a
traditional IPO. Two features of the SPAC process are
notable: Forecasts and proceeds.
And yes, ultimately, the upside potential is a function of the
sponsor’s ability to identify the target, negotiate terms, inject needed
external capital, and create long-term value.
Some more statistics: Goldman analyzed 56 SPACs that
completed mergers/de-SPAC transactions since January 2018. Tech and Industrials dominated the
targets, followed by Energy and Financials.
See Chart:
Sector
composition of 58 de-SPAC merges since Jan 2018
Now the bad news: the average SPAC underperformed both indexes during the 3, 6, and
12-months after the merger completion.
See Charts:
As shown in the chart above, the
performance distribution is extremely wide, with the 75th percentile SPAC
outperforming the S&P 500 by 22% while the 25th percentile transaction
lagged by 69%. The comparable returns vs. Russell 2000 were from +37% to -63 %.
In other words, just like with regular IPOs, SPAC returns are a coin-toss and since they tend to
underperform the broader market several months after the merger and after the
initial euphoria fades one may as well just buy the SPY, which unlike a SPAC,
is now actively managed by the Fed whose mandate is to never allow another
market drop again.
It's also another indicator that a market top has
been reached, although while in the past this would be a signal to take profits
at this time - when the Fed is actively managing equity
risk and making any material declines virtually impossible - this time is not
only different, but the recent explosion in SPACs issuance may simply be an
indicator to add on even more risk, with the Fed's blessing of course.
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SOURCE: https://www.zerohedge.com/markets/another-market-top-indicator-blank-check-ipo-issuance-explodes
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Brief News on US Economics:
"...so without a sell discipline, buying bubble assets is insanely
stupid."
SEE CHART:
Economy in Recession: Negative
GDP Growth
====
Never
before has the scale of fiscal and monetary stimulus matched the nation’s
nominal output in a single quarter.
by Joseph Carson, former chief economist at Alliance Bernstein
On March 12, I penned the article “Investors
Should Brace for a Record Decline in GDP”. Never did I imagine that the Q2 GDP decline would be
nearly 5X times the previous record drop of 7.2% in Nominal GDP in Q4 2008.
Here’s a few observations.
First, Q2
Nominal GDP was estimated at $19.4 trillion annualized, a drop of over $2
trillion from Q1 level of $21.5 trillion.
.. Never before has the scale of fiscal and monetary stimulus matched the
nation’s nominal output in a single quarter.
Second, Q2
nominal consumer spending declined at an annualized
rate of 35.8%. But the actual decline is much worse. …. In other words, BEA methodology
assumes people made their rent payments on time and in full. Yet, reports show that more than one-third of renters skipped
paying part or all of their rent in Q2.
Third,
Based on preliminary data the market capitalization of domestic companies increased by
$7 trillion in Q2 while nominal GDP, measured quarterly, declined by
approximately $500 billion
SEE CHART:
Gdp VS.
S&P 500
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... Indeed, the sharp moves higher in breakevens and precious metals
suggest that markets are considering the possibility.
….
If Mr. Friedman was correct, then
isn't the risk of higher inflation greater than it’s ever been, too?
Indeed, the sharp moves higher in break evens and
precious metals suggest that markets are considering the possibility.
SEE CHART:
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It's
reasonable to suspect that any deal for Microsoft to buy TikTok would require
dependable assurances from the administration that Microsoft would be
protected...
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...millions of small businesses permanently destroyed, tens of millions of
households wiped-out financially
and the vicious daisy chain ofdelinquencies,
deferrals and defaultsjust
beginning to rip
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"The
bank will closely examine the information that came to light on Friday and the
fact pattern from 2013..."
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Physical delivery on the largest gold futures
exchange in the world, the COMEX in New York, has reached all time highs this year. Usually, delivery is “negligible.” What has
changed?
Bloomberg
reports that traders on Thursday declared their intent to deliver 3.27 million ounces (over 100 tonnes) of
gold against the August Comex contract, the largest daily notice in bourse data
going back to 1994...
SEE CHART:
COMEX Gold Delivery
(Tons)
While millions of ounces of gold
trade on the futures market every day, typically only a tiny fraction of that
goes to delivery. But in
recent months, huge amounts of bullion have flowed into New York and the COMEX
has seen record deliveries.
See Chart:
As Jan
Nieuwenhuijs of Voima Gold explains, three
elements cause physical delivery on the COMEX to have reached record highs this
year:
1. strong demand for futures in New York,
2. a
persisting spread between the price of futures in New York versus spot gold in
London,
3. and arbitrage.
Physical delivery on the largest
gold futures exchange in the world, the COMEX in New York, has reached all time
highs this year. Usually, delivery is “negligible.” What has
changed?
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US
DOMESTIC POLITICS
Seudo democ duopolico in US is obsolete; it’s full of frauds
& corruption. Urge cambio
On August 21 the
GOP will hold its convention, without
the press...
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We are now experiencing a dystopian
amalgamation of the worst of Huxley and Orwell's imaginations...
“A really efficient totalitarian state would be one in which the
all-powerful executive of political bosses and their army of managers control a
population of slaves who do not have to be coerced, because they love their
servitude.”
- Aldous Huxley, Brave New World
“Every record has been destroyed or falsified, every book rewritten,
every picture has been repainted, every statue and street building has been
renamed, every date has been altered. And the process is continuing day by day
and minute by minute. History has stopped. Nothing exists except an endless
present in which the Party is always right.”
- George Orwell, 1984
Debate has raged over the decades whether Huxley’s or Orwell’s dystopian
vision of the future would be more accurate. Both visions required
the successful use of propaganda by those in power to achieve their agendas. Huxley wrote a letter to Orwell after reading 1984 in 1949,
shortly before Orwell’s death. His conclusion was as follows:
“Within the next generation I believe that the world’s rulers will
discover that infant conditioning and narco-hypnosis
are more efficient, as instruments of government, than clubs and prisons,
and that the lust for power can be just as completely
satisfied by suggesting people into loving their servitude as by flogging and
kicking them into obedience. In other words, I feel that the nightmare
of Nineteen Eighty-Four is destined to modulate into the nightmare o f a world
having more resemblance to that which I imagined in Brave New World. The change will be brought about as a result of a felt need
for increased efficiency. Meanwhile, of course,
there may be a large-scale biological and atomic war—in which case we shall
have nightmares of other and scarcely imaginable kinds.”
Since 9/11, the United States
has unequivocally moved in the direction of Orwell’s 1984 vision. We are now experiencing a dystopian
amalgamation of the worst of both novels. Virtually every
conspiracy theory ridiculed by the corporate controlled media pundits, captured
academics, and government apparatchiks over the last few decades have proven to
be accurate and true.
But very few are able to discern
the truth because The
Party/Invisible Government/Deep State has been hugely successful in utilizing
propaganda and public education indoctrination to dumb down and manipulate the
minds of the masses into believing whatever they are told by their masters.
The complete success of this mass
psychological conditioning has been on display for the last four months, as the majority have come to love their enslavement and
servitude based upon the inept and hysterical misinformation propagated by
medical “experts”, government bureaucrats, corrupt politicians, and the fake
news media complex
Continue reading at:
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“Biden shouldn’t feel obligated to throw Trump a
lifeline by granting him any debates at all. This is not a normal
presidential election and Trump
is not a legitimate candidate...”
====
"Congress
would grant the Federal Reserve an additional tool for providing support. The Fed would then activate the securities
and deposit the funds digitally in households’ apps."
====
NO valid pretext for WW3.. it has to be the same magnitude
as 9/11 & better o/c
Military
has called off what was an extensive 40-hour search...
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….I said better of curse because
9/11 include pre-fabricated implosions and the assumed authors , the Saudi
jijadist , were found alive & Saudi royal family were left to escape the
day after. Read Global Research: 9/11
News Coverage: How 36 Reporters Brought Us the Twin Towers’ Explosive
Demolition on 9/11 By Ted Walter and Prof. Graeme MacQueen. Profesor
Michel Chossudovsky wrote also 2 reports on this regard (same source).
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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
The shift
suggests China will substitute some imports, including technology, with local
supply, and reorient some exports to domestic markets. In other words, global
trade is likely to remain sluggish due to Xi’s pivot inward.
….
The shift suggests China will substitute some imports, including
technology, with local supply, and reorient some exports to domestic markets.
In other words, global trade, which is already contracting, is likely to remain
sluggish due to Xi’s pivot inward.
This
isn’t good news for countries that sell to China, including Germany and most
emerging markets. The chart below
shows how closely correlated China and U.S. imports are to the performance of
global stocks.
SEE Chart
2. Dollar’s decline is about to slow down
See Chart:
3. Volatility may pick up in August with a looming fiscal cliff in the
U.S.
CHART: BLOCKED
….
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They gona
lose sense of NATION
"Where you slept last night is where you'll
need to stay for the next six weeks."
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Iran will expand its nuclear program,vows Khamenei, and rejects
offer of talks with US administration.
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SPUTNIK and RT SHOWS
GEO-POL n GEO-ECO
..Focus on neoliberal expansion via wars & danger of WW3
- Microsoft to Proceed With Talks Over Possible
TikTok Purchase in US After 'Conversation' With Trump
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NOTICIAS IN SPANISH
Lat Am search f alternatives to neo-fascist regimes &
terrorist imperial chaos
VIENTO SUR
La pandemia
ha desorganizado profundamente la economía mundial. La lógica de esta crisis es
inédita y la manera de salir de ella dependerá de factores no solo económicos,
sino también sanitarios y sociopolíticos.
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La carrera
de las predicciones está en marcha: el factor incertidumbre y los grandes
interrogantes son la tónica compartida. A las incertezas sobre pandemia sesumar
otras que ya estaban muy presentes en la sociedad –entre ellas- los retos
ambientales de la emergencia climática.
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Mientras
que agentes federales anónimos continúan su campaña de ataques violentos e
ilegales contra los manifestantes de Black Lives Matter (BLM) en Portland,
Oregón, provocando una reacción cada vez más firme, el presidente Trump declaró
que enviará más agentes federales.
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RT
EN ESPAÑOL
TikTok: Washington amenazo a China, o vende su app
al US o este la bloquea. https://actualidad.rt.com/actualidad/361967-washington-afirma-tiktok-china-vendida-bloqueada
. El tit x tat chino : Microsoft será nacionalizado. Esto forzó la fusión y
el Ado
VIDEO: La Crew Dragon con dos astronautas de la NASA
amariza en el golfo de México https://actualidad.rt.com/actualidad/361904-astronautas-nasa-regresar-tierra-crew-dragon
TikTok y Microsolf son una fusión con proyecto
global y en US aplastaran a Facebook. https://actualidad.rt.com/actualidad/361964-empresa-matriz-tiktok-enfrentar-dificultades-volverse-global-facebook-manchar. Lea Sputnik
Un 'padre del año' asesina a toda su familia y al
perro antes de suicidarse. https://actualidad.rt.com/actualidad/361920-padre-asesina-familia-perro. En el US puede ocurrir cualquier barbarie. El
CV, las guerras y el crash Ec destruyen famil enteras Pero en esta crisis también
ocurre lo inverso: actos de humanismo increíbles en el US.
U. habría presionado al FMI sobre Argentina para
terminar con Maduro en Venezuela https://actualidad.rt.com/video/361969-eeuu-habria-presionado-fmi-argentina
El Pentágono retira casi 12.000 tropas de Alemania https://actualidad.rt.com/video/361927-pentagono-retirar-12000-tropas-alemania
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VOLTAIRE NET ORG https://www.voltairenet.org/en
Yesterday
they block me this INFO. Hoy lo Logre
Voltaire Network
At a Senate Foreign Affairs Committee hearing on 30 July
2020, Senator Lindsey Graham questioned Secretary of State Mike Pompeo about a
US company that has just signed an agreement with the "Autonomous
Administration" of Northeast Syria (YPG) for the exploitation of oil
fields and the supply of refineries.
The Secretary of State confirmed that the negotiation of the
agreement had taken longer than expected and that he was OK with the deal.
Production is expected to start at 60,000 barrels/day and could quickly rise to
380,000 barrels/day.
The "Autonomous Administration" is a fiction set
up by the Pentagon in northeastern Syria, which is being run by a Kurdish
faction. Neither Damascus nor Ankara have made any comments.
Crescent Energy Services, which penned the agreement, is a
CIA front registered in the tax haven of Delaware, but based in Louisiana.
According to our sources, the profits of the Autonomous
Administration will be divided in two: half for itself, and the other half for
the CIA, which will use the money to finance its covert operations throughout
the world without having to submit a budget request to Congress.
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CROSS TALK https://www.rt.com/shows/crosstalk/
We speak to Julian Assange’s former
lawyer Geoffrey Robertson QC. He discusses the new indictments being brought by
the US against WikiLeaks founder Julian Assange and why they have been brought
at such a late stage, why the US is pushing so hard for his extradition, his
belief that Julian Assange would get 50 years in prison if he is extradited to
the US, alleged bugging of Ecuador’s embassy in London by the US to spy on
Assange, his limited access to lawyers inside Belmarsh Prison and much more! [No hay aqui
nada Nuevo, pero vale la atencion en
Assange ]
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GLOBAL RESEARCH
Geopolitics & Econ-Pol crisis that leads to more
business-wars from US-NATO allies
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