AUG 22 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
'THESE' ARE THE REAL HUGE JOBS NUMBERS, AND THEY WILL MAKE YOUR BLOOD RUN COLD
The rebound isn’t being very bouncy...no matter how many gigantic gobs of purported “stimulus” has been thrown at the economy. It ain’t stimulating. The number of jobs still being lost this late into it is unthinkable; historic.
Authored by Jeffrey Snider via Alhambra Investments,
There is simply no way to spin these figures as anything good.
The fact of the matter is after 22 weeks of dislocation, at least eleven of them under reopening, these continue to rip along at around 1 million per week.
SEE CHART:
Unemployment insurance : Initial Jobless Claims
One million.
We’d never seen so much as 700k before (though the labor market is getting into the top range of 1981-82 adjusting for population, as if that’s some good thing). Forget about the first half of the contraction (which the shutdown caused) and just focus on this second set of weeks since early May. There’s no way to describe them, more than double anything we’ve ever seen before.
Not shutdown but the visible display of economic damage.
See Chart:
Unemployment Insurance Initial jobless claim
The rebound isn’t being very bouncy, for one thing, no matter how many gigantic gobs of purported “stimulus” has been thrown at the economy. It ain’t stimulating. The number of jobs still being lost this late into it is unthinkable; historic.
Recovery at last.
A job means a W-2, but many workers hold more than one job at a time or during the year they may change jobs. So, it’s not an exact one-for-one, but when we’re dealing with big things it needn’t be perfectly precise. Even when we look at how 2017’s globally synchronized growth actually turned out in terms of managing all those paper and e-filed submissions:
See Chart:
IRS Publication 6961
Which brings us to the 2020 update to Publication 6961 released yesterday…and holy sh$%. Sorry, but an expletive is demanded in this situation:
See Chart:
https://www.zerohedge.com/s3/files/inline-images/ABOOK-Aug-2020-IRS-6961-W2s-All.jpg?itok=BkY3eXV3
Thirty-seven million.
Even more frightening, the IRS doesn’t believe the labor market is going to recover before 2028. And that is the biggest downside of all. Time is the greatest enemy.
That doesn’t mean 37 million jobs have been eliminated. Some of the gap is gig workers (a very small part) while much of it is probably going to be a whole lot less turnover; workers changing jobs and getting a W-2 for each during a year. If workers change fewer jobs because they’re uncertain or scared, as so often happens during the worst economic circumstances, then that would account for fewer total W-2’s being issued and turned in.
See Chart:
Pro Forma CES HH Survey
But at the baseline of these estimates, it has to be this or worse:
See Chart:
Labor Dificulties
The “V” is not a V; the rebound is not a recovery. The IRS could be wrong, of course, but when it has been, like so many other official predictions, in which direction is it typically wrong? Using mainstream models, as they’ve done here, when are the models ever overly pessimistic about longer run situations?
More importantly, these numbers are all consistent with each other; horrible. Combined with real unemployment filings and productivity estimates, each coming at the same piece, the labor market, of what looks to be the stark reality of our economic situation.
These right here are the huge jobs numbers, not what got posted by the BLS several Fridays ago. How can the most gigantic of payroll positives in history possibly be disappointing to the point of being irrelevant? Quite easily, it may turn out.
BLOCKED
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IS THE STOCK MARKET NOW TOO BIG TO FAIL?
The larger market is struggling,correcting even as the rotation trade once again was left in the dust of another vertical chase into key tech stocks which are now historically overvalued...
Authored by Sven Henrich via NorthmanTrader.com,
Reality Check
This week the headlines declared the bear market over as the S&P 500 joined the Nasdaq to make new all time highs. A new bull market has begun so the celebratory narratives. It is true these indices have made new all time highs, but the actual market hasn’t. Not even close. These indices have made new all time highs as 6-7 stocks are experiencing the largest and most aggressive market cap expansion in human history distorting everything.
None of these companies have produced results that justify these historic market cap expansions in such a short period of time, but they provide cover for the illusion that the bear market is over and that a new bull market has begun. There is little doubt these stocks are in a bull market. I call it a historic bubble, but don’t let anyone tell you the “market” is in a bull market.
It’s not and the value line geometric index shows you this clearly:
SEE CHART:
https://www.zerohedge.com/s3/files/inline-images/xvg-6.png?itok=q1De1ZD6
Bottomline: The larger market is struggling, correcting even as the rotation trade once again was left in the dust of another vertical chase into key tech stocks which are now historically overvalued, technically extremely stretched and at ever higher risk of a violent technical reversion. Month end is again approaching and perhaps the rotation trade may once again be a vehicle of choice as these February gaps remain (see also $DJIA and $VIX).
Listen a Video at:
SOURCE: https://www.zerohedge.com/markets/stock-market-now-too-big-fail
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US DOMESTIC POLITICS
Seudo democ duopolico in US is obsolete; it’s full of frauds & corruption. Urge cambio
Hate crime in Biden voters reveal FEAR to lose election. It’s irrational fanatic attitude
ARREST MADE IN VIRAL HATE CRIME AGAINST 7-YEAR-OLD WITH MAGA HAT
"Police said they arrested Winslow after reviewing video footage of the event."
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A video SHOW that outside the DNC Convention in Milwaukee there was a kid & mother showing support for MAGA (Make America Great Again) . The red hat of 7-year-old boy said KEEP AMERICA GREAT and the mother banner said WOMEN FOR TRUMP. They didn’t disrupt the DNC convention: both mother & kid were outside using the free streets of America when the kid was attacked. How to explain this irrational attitude called ‘hate cime’? . The public opinion (pools) said that Trump-Biden are now tide, not any longer in favor of Biden. What is bad on this issue? It announces the level of violence to come before and after elections. Electoral fraud will be the next issue and zealots in both sides will explode. The Police did a good job in this case.
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Both corrupted parties (Dems & Reps) se van a dar con todo.
"You want to be pro-Dem?
I know more than you will ever know about their evil", said a lady.
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We’re on stone-age in vaccines. We must get the RU & then the CH to kill virus’ root
TRUMP JABS FDA FOR REJECTING HCQ, CLAIMS 'DEEP STATE, OR WHOEVER' DELAYING VACCINE TRIALS
"Must focus on speed, and saving lives!"
Several new studies have shown efficacy if used early, while countries that have deployed HCQ in just that manner have significantly fewer deaths per million residents (via c19study.com, which tracks HCQ studies).
SEE CHART:
https://www.zerohedge.com/s3/files/inline-images/EgDhy61UYAAfWRM.png?itok=9jC_y7mb
RESULTS?:
SEE CHART:
https://www.zerohedge.com/s3/files/inline-images/covid%20delay.png?itok=bbOcpObB
Dr. Fauci's NIH is suppressing #Hydroxycholoroquine.@RealDonaldTrump should ask Dr. Fauci about NIH's refusal to conduct or support real research on HCQ despite the likely efficacy of this safe drug as a#coronavirus treatment and preventative.
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CONTINUE READING AT:
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RON PAUL: THE UNTOLD STORY OF THE MAN WHO INSPIRED A NEW GENERATION OF LIBERTY LOVERS
While he had been reading Austrian economics and Libertarian political philosophy for years beforehand, he finally decided to run for Congress when President Richard Nixon took the nation off of the gold standard in 1971...
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MICHIGAN COLLEGE UNLEASHES "MANDATORY" APP TO TRACK STUDENTS AT ALL TIMES
Albion College's COVID-bubble will require students to stay within a 4.5-mile perimeter...
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HOUSE PASSES $25 BILLION POST OFFICE BAILOUT AS TRUMP RAGES ON TWITTER
"Vote NO to the Pelosi/ Schumer
money wasting HOAX which is taking place now."
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NOT AGAIN!? JOE BIDEN ACCUSED OF PLAGIARIZING CANADIAN POLITICIAN IN DNC SPEECH
..."a number of Canadians” found part of Biden’s speech to be very “similar” to Canadian politician Jack Layton’s farewell letter before his death....
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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
CATAPULTING RUSSIAN-MEDDLING PROPAGANDA
The New York Times is leading the full-court press to improve on what it regards as Special Counsel RobertMueller’s weak-kneed effort to blame the Russians for giving us Donald Trump...
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CHINA WARNS 'NECESSARY COUNTERMEASURES' COMING FOR ANY ASIAN COUNTRY WILLING TO HOST US MISSILES
Beijing once again blasts Washington's "Cold War mentality" while putting regional nations on notice...
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SOUTH KOREA INDEFINITELY CLOSES ALL NIGHTLIFE AS GLOBAL COVID-19 CASES TOP 23 MILLION: LIVE UPDATES
Russia reported 4,921 new cases on Saturday, pushing its confirmed national tally up to 951,897...
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SPUTNIK and RT SHOWS
GEO-POL n GEO-ECO ..Focus on neoliberal expansion via wars & danger of WW3
-House Approves Bill to Provide $25 Billion to US Postal Service
-Opposing Groups Engage in Skirmishes in Portland
-Trump Authorizes Emergency Relief Aid to Puerto Rico Hit by Storm Laura
-TikTok Parent Company to File Lawsuit Against Trump Administration on Monday
-Pelosi Claims Trump ‘Playbook’ Includes Voter Suppress By Police And Immig Officials
-Saudi-Led Coalition Says Intercepts Houthi Drone, Missile in Yemen
-ECOWAS Delegation Calls for Establishing Civilian Government in Mali
-Hezbollah Says Downs Israeli Drone After It Violated Lebanon’s Airspace
-Apple Accused of Forcing Developer to Monetize Its Free App Because it Wanted to Profit From it
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THE REST FOR TOMORROW
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