AUG 5 20 ND SIT EC y POL
ND denounce Global-neoliberal debacle y propone State-Social + Capit-compet in Eco
"OUR HOUSE IS ON FIRE, WE NEED HELP" - COVID-19 DEATHS PILE UP IN TEXAS RIO GRANDE BORDERLAND
"In this area, it’s not a joke. It’s life or death..."
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ZERO HEDGE ECONOMICS
Neoliberal globalization is over. Financiers know it, they documented with graphics
GOLD, NASDAQ SOAR; S&P JUST SHY OF ALL TIME HIGH IN MAD DOLLAR-DESTRUCTION DASH
A body in motion will remain in motion.
These days Newton's first law is as applicable in physics as it is in capital markets, because despite growing concerns about a new wave of covid infections, chaos and confusion over the passage of a new stimulus wave, a V-shaped surge in projected earnings, not to mention the all too real possibility that Joe Biden will be US president in 3 months, stocks continue to move in an upward motion, unperturbed by anything, with the Nasdaq hitting its 31 new all time high of 2020 and rising above 11,000 for the first time ever on the back of the 5 FAAMG stocks but mostly the AAPL juggernaut, which despite taking a rest today on a BofA downgrade is up a staggering quarter of a trillion dollar in market cap just since its earnings report last Thursday.
See Chart:
NASDAQ and AAPL
https://www.zerohedge.com/s3/files/inline-images/nasdaq%20and%20aaple.jpg?itok=lEPrbQ7M
And while tech bulls will pounds the table and vow that the current tech bubble is far less dangerous than the dot com bubble of 2000, the reality is that that fwd multiples are now exponential and it is only a matter of time before this particular law of Newton encounters a sufficient painful "external force" that will burst the current tech bubble too.
See Chart:
FAAMG fwd P/E Multiple
https://www.zerohedge.com/s3/files/inline-images/FAAMG%20PE.jpg?itok=QSv0NZ-2
But don't take our word for it: here is a quick and dirty "fundamental" analysis of Apple from Ben Mackovak:
"It's essentially the same story. $AAPL enterprise value +90% over past 2 yrs despite no net income growth.100% driven by multiple expansion, which I think is driven by Fed policy. When the Fed Funds rate was 2.4% in 2019, AAPL had a PE of 15x. Today Apple PE ratio is 32x."
Of course none of this matters, as the generic argument one hears from the permabulls is a familiar one: as long as real interest rates continue to sink - and 10Y TIPS just hit a record low negative 1.07% - equity investors have no choice but to buy.
Which is absolutely correct... however it now appears that equity investors have a choice of what to buy, and in lately they have been buying a lot of gold, whose inverse correlation with real rates is effectively 1:1.
See Chart:
GOLD vs 10Y Real Rate
https://www.zerohedge.com/s3/files/inline-images/10Y%20real%20rate%201_0.jpg?itok=DNfbp0w4
And with gold surging on Tuesday, blasting above $2000 and hitting a new all time high earlier today, increasingly more investors are turning their attention to silver, which just hit $27/oz...
See Chart:
Gold & Silver
https://www.zerohedge.com/s3/files/inline-images/gold%20and%20silver%208.5.jpg?itok=sUCAuyX9
... and which according to BofA, is set to double from here to $50 "in the short term." More importantly, it increasingly appears that the biggest market moving force of today's batshit insane market, the Robinhood army, is getting on board with both gold and silver...
See Table
https://www.zerohedge.com/s3/files/inline-images/slv%20gld%20robin.png?itok=jc8R5MzS
... which very soon will be in the top 10, then top 5 of most popular daily names traded on the retail platform, at which point watch out above (and get read to sell). Of course, once we go vertical in gold, that's when the Fed will have no choice but to crash everything as that's the kind of meltup in investor conviction that everything is about to collapse that keeps central bankers up at night.
One place where Newton's First law was not in full force today was in the rates market, where after hitting an all time low of just above 0.50% overnight, the 10Y yield backed up by 4bps, and the 30Y rose just above 1.20%...
See Chart:
10Y 30Y Yield down
https://www.zerohedge.com/s3/files/inline-images/10y%2030y%20yield.jpg?itok=R5aTsKLm
... although as Rabobank's Michael Every notes, even at this rate, the 30Y bond is pricing in no more than 4 rate hikes over the course of the next generation!
Another place where Newton got a bit of a break was in the S&P500, which is now just 2% below its all time high, and finding some modest resistance in the 3,328 level, which marks the top of the gap that opened on Feb. 24. As Bloomberg's Andrew Cinko reminds us, that was the day may when stocks dropped as much as 4%, the Dow sank over 1,000 points and the VIX skyrocketed as it became clear the coronavirus was going to circle the globe.
Also it is worth noting that today is another of those days when all the gains came overnight, with the index unchanged for the duration of the day session.
See Chart:
Emini S&P Futures
https://www.zerohedge.com/s3/files/inline-images/ES%202020-08-05_15-52-23.png?itok=ks7NSoM9
One final point, and perhaps the explanation for all of the above - the devastation of the dollar continued apace, with the BBDXY sliding sharply as traders front run what now appear to be trillions in fiscal stimulus coming from US congress in 2020 and coming years.
See Chart:
BBDXY
https://www.zerohedge.com/s3/files/inline-images/BBDXY%208.5%201.jpg?itok=ECR_NGtq
….
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CALM BEFORE THE STORM? - GUNDLACH POINTS OUT TREASURY VOLATILITY AT RECORD LOWS
"After being at a 10 year high just weeks ago, the MOVE index..."
Another record low was recently made in Bank of America's MOVE Index (considered Treasury Market 'VIX'), falling to an unprecedented 40.66 last week, has since turned up to 44.11 in early August.
SEE Chart:
MOVE Index (Treasury VIX)
https://www.zerohedge.com/s3/files/inline-images/2020-08-05_05-28-36.png?itok=yY-gQ6VO
With the five-year Treasury yield hitting a record low on Tuesday and the 10-year Treasury yield falling to a five-month low, the demand for treasuries has surged as the U.S. economic recovery slows. Treasuries traders get it, and there are considerable risks to the economic outlook in the medium term.
See Chart:
UST 10Y Yield
https://www.zerohedge.com/s3/files/inline-images/bfm283_0.jpg?itok=RdM3Pp9v
Bloomberg spoke with Ben Emons, head of global macro strategy at Medley Global Advisors, who said: "Historically when real yields reach a new bottom, it is followed by a higher MOVE."
"Inflation-adjusted yields have the potential to go even more sharply negative as the market adjusts its expectations for a U.S. economic slowdown," Emons said.
See Chart:
US Economic Surprise Index
https://www.zerohedge.com/s3/files/inline-images/2020-08-05_07-35-44.png?itok=kgjMrDzr
We noted Tuesday that "deflation remains the more credible risk, not inflation," suggesting treasury rates can still hit zero.
If treasury volatility returns, as Treasury yields are expected to move lower, this could lead to an upswing in equity volatility.
See Chart:
COVID 19 vs VIX (Move Index)
https://www.zerohedge.com/s3/files/inline-images/2020-08-05_05-48-09.png?itok=Cp1vLqfI
But again, what do bond traders know?
See Chart:
Nasdaq Vs 10 Y Yield
https://www.zerohedge.com/s3/files/inline-images/bfm6FA2-1.jpg?itok=Gvu3sZdV
Bond traders get it, the recovery has faltered, though stock traders are in pure euphoria mode. All eyes on treasury volatility...
….
SOURCE: https://www.zerohedge.com/markets/calm-storm-gundlach-points-out-treasury-volatility-record-lows
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3 REASONS TREASURY RATES CAN STILL HIT 0%: PART II
Deflation remains a more credible risk, not inflation. The output gap suggests core inflation could sink below 0.5% in the coming years.
[ I guess P1 was distorted (sabotage) to create image that inflation=main prob]
By Eric Basmajian of EPB Macro Research
Below we’ll cover the current situation regarding FX-hedged US rates and why this is another factor that will help keep a lid on US interest rates or continue to push them closer to the zero-lower-bound “ZLB.”
The chart below shows the 10-year US Treasury yield (white) and the 10-year JGB yield (yellow).
For the last 10-years, UST yields were higher than JGB yields, but…
SEE Chart below
US Rates Vs. Japanese Rates (10-Year %):
https://www.zerohedge.com/s3/files/inline-images/2020-08-05_17-14-07.jpg?itok=PXcbJa3y
The bottom panel in the chart below takes the difference between US yields after the currency hedge and Japanese yields. When the bottom panel is in green, UST yields are higher than JGB yields even after accounting for the currency hedge.
See Chart:
US Rates (Hedged) Vs. Japanese Rates (10-Year %):
https://www.zerohedge.com/s3/files/inline-images/2020-08-05_17-14-31.jpg?itok=L9HGOWiI
Continue reading & see more Charts at:
SOURCE: https://www.zerohedge.com/markets/3-reasons-treasury-rates-can-still-hit-0-part-ii
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US DOMESTIC POLITICS
Seudo democ duopolico in US is obsolete; it’s full of frauds & corruption. Urge cambio
TRUMP CALLS FOR ADDITIONAL, EARLIER DEBATE WITH BIDEN; CAMPAIGN PROVIDES LIST OF MODERATORS
Will Biden leave his basement?
….
“President Trump wants to debate Joe Biden sooner than September 29, and has requested an additional debate to bring the total to four”
Speaking with Fox News Wednesday morning, the president cited the fact that mail-in ballots and early voting will mean votes are cast before the first debate is held…. The first debate should be before ballots go out – at least before the first ballots go out…. It's ridiculous:
In the swing state of Michigan, for example, absentee ballots can be cast 45 days before the election. InVirginia, in-person early voting starts that early. And inMinnesota, in-person early voting starts on Sept. 18.
"I wouldn't mind more," Trump said, "what's more important to me is the first debate be moved up so that when people are putting in their first ballot they're gonna know." -Fox News
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Can Mr Pompeo send me money to bring from RU d top of the art vaccine agst CV-19?
POMPEO OFFERS $10 MILLION REWARD FOR INFORMATION ON FOREIGN ELECTION INTERFERENCE
The state department would offer $10 million reward for the identity or location of "any person who acting at the direction of a foreign government interferes with US. elections by engaging in certain criminal cyber activities."
….
I’m not Agst nor in favor of Trump, though I know he is going to win. I disagree with the duopoly system (Reps & Dems): there is not 3rd choice for me to vote. US-Elections is not my concern & I won’t allow the RU Govt to manipulate me in any direction. I go because there is a Symposium on “Regional Autonomies” & my focus is on the Role of Educ in it. I have to design an Edu-Reform for such purpose as I did it for the WB in Pitt-Univ. Vicky Pelaes the Peruvian Sociologist that got for me the invitation didn’t got the round -trip plane ticket to travel to RU. She is now in a hospital because of car accident. Can I use Pompeo’ money for plane tickets and to buy the vaccine for one relative in my US family?. I will try also: ‘George Soros’ “Open Society Foundations."
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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
STUNNING SATELLITE IMAGES OF BEIRUT BLAST EPICENTER
More stunning 'live feed' footage emerges: chaos amid wedding shoot, priest dives for cover during mass, BBC reporter blown off chair.
A huge crater can be seen at the center of the leveled port.
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[ Crater suggest a missile loaded with semi-nuke. IF so: ISR,UK,US,Saud suspects Before Iran scape from this hit when they launch missiles from underground. This is definitely a star of new war in M-East, this one oriented to WW3 . The RU-CHI front in M-East has been attacked & attacks on NATO-Penta may come too. So far, T is winning , but 1 more mistake, he will be out of Elector-game ]
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Xenophobia won’t stop the advance of China
CHINA WILL SOON BE ABLE TO CLOSE OFF THE STRAITS OF HORMUZ AND THE RED SEA
It is something the US won’t just sit back and let happen under President Trump or any other president
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We continue pushing WW3 agenda.. American & World life don’t matter
US NAVY SEIZES IRAN-BOUND SHIP CARRYING PHARMACEUTICAL SUPPLIES OFF CHINA: FARS
Iranian state media announces a US Navy warship seized a transport ship near the Chinese port of Qingdao on Wednesday morning.
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SPUTNIK and RT SHOWS
GEO-POL n GEO-ECO ..Focus on neoliberal expansion via wars & danger of WW3
- Hiroshima Mayor Calls on Japanese Government to Join Treaty on Prohibition of Nuclear Weapons
- How Can You Say Accident?’: Trump Reiterates Possib That Beirut Blast Was an ‘Attack’
- US Prosecutors Subpoena Deutsche Bank for Trump Financial Records
- Feds Raid YouTuber Jake Paul’s California Mansion Amid FBI Probe of ‘Criminal Acts’
- Ex-Guatemalan Min Launders $10 Mill in Drug Trade Cash, US Just Depart Says
- 'Nature of War is Changing': ISR Ex-Spy Chief Justifies Exorbit Mossad Budget Amid IDF Cuts
- Mill of Americans to Suffer Severe Financial Hardship When Unemployment Aid Ends
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NOTICIAS IN SPANISH
Lat Am search f alternatives to neo-fascist regimes & terrorist imperial chaos
REBELION
Mund: Revolución en la historia del hombre africano? Valentin-
PDF : Crítica a las Neurociencias Marcelo Colussi
ARG: En busca de recursos genuinos Eduardo Lucita
BRA: integración reg y l nuevos (des)caminos de la política exterior
FEM: Violencia: “Desaparecí, y no sé cuándo” Beatriz Villanueva
España Ni medios de comunic ni democracia Cristina Fallarás
Opin: AlterBanc: respuesta agroecológica a pobreza alimentaria LS
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ALAI NET ORG
-Plan intervencionista en Nicaragua Giorgio Trucchi
- EL MAÑANA ES HOY (IV) Víctor Manuel Barceló
- Biden Vs Trump, Alíen Vs Predator Oswaldo Espinoza
- LOS ÁRABES JUDÍOS Isaac Bigio
Bolivia Entre dinamitas y metrallas Ernesto J Hidalgo
US LOS HIJOS DE LA VIOLENCIA FBAD
-LAS PETROLERAS Y LA ENERGÍA LIMPIA O Ugarteche, Carlos León
- Un nuevo ajuste “shock” para Latinoamérica Javier Suazo
- QUIÉN PAGA LA CUENTA? Pasqualina Curcio
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VOLTAIRE NET ORG https://www.voltairenet.org/en
WHICH NEW WEAPON WAS USED IN THE GULF AND IN BEIRUT?
At the beginning of July, a new weapon was deployed against 7 Iranian ships in the Persian Gulf [1], then again on 4 August rocking the port of Beirut.
In all eight cases, the smoke cloud bore no resemblance to that generated by a conventional explosion; what rose instead was a mushroom cloud like in an atomic explosion.
In Beirut, the blast caused the ground to shake in a radius of 200 kilometers, at a magnitude of 3.5 on the Richter scale, according to the German Geoscience Center (GFZ). It was this vibration and not the explosion itself that destroyed many parts of the city.
The detonation also caused a giant wave and destroyed cars adjacent to the port, without however displacing them or the water sideways, but rather as if pressure had been exerted directly on the sea and on the site of the disaster.
These attacks come as the judgment of the United Nations Special Tribunal for Lebanon is to take place on 7 August [2]. It will in all likelihood be postponed.
SOURCE: https://www.voltairenet.org/article210665.html
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CROSS TALK https://www.rt.com/shows/crosstalk/
All across the board, Trump is down in the polls and not by a point or two. Traditionally, incumbency alone is enough to win re-election. But this time around it appears to be a race Trump may lose. And let’s be clear, this has little to do with Joe Biden. How did we get to this point?
CrossTalking with Ameshia Cross & Joe Collins.
SOURCE: https://www.rt.com/shows/crosstalk/497131-crosstalk-on-trump-quarantine-edition/
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GLOBAL RESEARCH
Geopolitics & Econ-Pol crisis that leads to more business-wars from US-NATO allies
- Up to 300,000 Left Homeless by Beirut Explosion
- Breaking: Israel Bombed Beirut? By Richard Silverstein,
CV Tests Scientifically Fraudulent, Epidemic of False Positives By David DeGraw
Beirut Explosion: An Accident or Something More Sinister? By Stephen Lendman
Pentagon Plans to Destroy Dozens of Soviet Cities By Shane Quinn,
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DEMOCRACY NOW
Amy Goodman’ team
-“Despair and Destruction”: Doctor in Beirut Describes Harrowing Scenes After Massive Port Explosion
- Beirut Explosion Follows Years of Lebanese Gov’t Incompetence & Corruption
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