Nueva Democracia: SEP 2 20 ND SIT EC y POL

SEP 2 20 ND SIT EC y POL

ND denounce Global-neoliberal debacle y propone State-Social + Capit-compet in Eco

....

WW3 is being cook by PENTA-NATO + Merkel Agst RU-CH. US elec postponed?

....

ZERO HEDGE ECONOMICS

Neoliberal globalization is over. Financiers know it, they documented with graphics

"JOB GAINS ARE MINIMAL" - ADP EMPLOYMENT DRAMATICALLY MISSES EXPECTATIONS IN AUGUST

“Job gains are minimal, and businesses across all sizes and sectors have yet to come close to their pre-COVID-19 employment levels."

Ahead of this Friday's payroll print, ADP was expected to report a sizable 1 million person improvement in employment in August (a resurgence from the disappointing +167k print in July), but it significantly missed those expectations with a rise of "only" 428k...

SEE CHART:

https://www.zerohedge.com/s3/files/inline-images/bfm7895.jpg?itok=8-IumFlM

Despite soaring ISM manufacturing employment data...

SEE CHART:

ISM Mfg New Orders Employment

https://www.zerohedge.com/s3/files/inline-images/2020-09-02_0.jpg?itok=KAXux1zS

Manufacturing jobs barely budged...

SEE CHART:

https://www.zerohedge.com/s3/files/inline-images/bfm9988.jpg?itok=_RJCXZqP

The biggest job gains went to minimum-wage sectors:

SEE CHART:

Private Employment by Industrry

https://www.zerohedge.com/s3/files/inline-images/2020-09-02.png?itok=FV905H6t

“The August job postings demonstrate a slow recovery,”said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute.

“Job gains are minimal, and businesses across all sizes and sectors have yet to come close to their pre-COVID-19 employment levels."

And only big firms (government-enabled through direct bailouts of Fed-enabled repression to offer low-cost capital market funding) are hiring... (with small businesses struggling since PPP seemed to fail to spark with the renaissance it was meant to)...

SEE CHART:

https://www.zerohedge.com/s3/files/inline-images/2020-09-02%20%282%29.png?itok=kjgHC-zP

Finally, we note that ADP has massively 'underperformed' relative to the official payrolls data in the last two months (after strongly 'outperforming' in the three months prior)...

SEE CHART:

ADP Employment change vs. BLS payrolls change

https://www.zerohedge.com/s3/files/inline-images/bfm44E8.jpg?itok=fsMPolo_

Today's 428k gain is about a third of what economists expect from BLS on Friday, but we are not sure this additional 'jobs' data point offers anything but noise ahead of Friday's print, but that won't stop the algos from freaking out.

….

SOURCE: https://www.zerohedge.com/personal-finance/job-gains-are-minimal-adp-employment-dramatically-misses-expectations-august

----

ANOTHER DAY, ANOTHER RECORD S&P HIGH AS CENTRAL BANKS FAN BIGGEST EVER BUBBLE

When rigging and manipulating stocks or markets, one usually allows for the occasional down day to avoid the impression of too much artificiality. Not here though.

Peter Chatwell, head of multi-asset at Mizuho International, said strong U.S. manufacturers data on Tuesday is combining with dovish commentary from officials including Lael Brainard at the Federal Reserve earlier this week to underpin risk assets. “The central bank easing theme has moved another notch higher,” he said.

But we digress. On Wednesday, S&P futures rose for the ninth time in past ten sessions, hitting a new all time high helped by a seemingly endless rally in tech stocks in general and Apple in particular, as focus turns to economic data that is likely to show a jump in private jobs in August.

SEE CHART

Emini S&P Futs

https://www.zerohedge.com/s3/files/inline-images/ES%202020-09-02_7-26-20.jpg?itok=LzvY7X-Y

The MSCI world equity index rose 0.2%, with Wall Street futures gauges pointed to gains of 0.7%, the ES last seen just around 3,550, up more than 60% from the March lows.

Continue reading & see more charts at:

SOURCE: https://www.zerohedge.com/markets/another-day-another-record-sp-high-central-banks-fan-biggest-ever-bubble

----

2020: WHEN THE IRRATIONAL BECAME RATIONALIZED

When you are looking for someone to blame remember this: The Market is not stupid. Participants are.

When Fed heads and economists are warning of more pain still to come, when investors believe the US needs another $1 trillion stimulus, and the FTSE is worth less than Apple… you have to wonder what’s different? Perhaps the main reason stocks remain so insanely high is because there is absolutely nothing else worth chasing returns on…

Usually markets correct because something happens – like funds stopping redemptions in 2007 triggering a cascade effect that culminated in the collapse of Lehman. Maybe this time it will be an outbreak of un-common sense?

A bubble market is one where the “whatever-you-want-to-believe” forces overcome well-grounded common sense, causing story stocks to head off on ballistic parabolas. (The clue to how it usually ends is in the words ballistic and parabola.) Even the few stocks that reach escape velocity and go into orbit – eventually see that orbit decay. That decays is due to the gravitational forces called obsolescence and competition. Practically no stock ever remains in the top 10 for more than a decade or two. Creative destruction ensures new firms are constantly emerging to meet consumer demand.

At some point even Apple will just be (once more), something that falls from a tree –will become the most eagerly desired product in consumer history!

Some story stocks get a boost from events.

The current market darling is Zoom – profits up by 3300% on the back of the pandemic. It’s achieved the remarkable accolade of becoming the verb for video-meetings making a $5mm profit. It made $186 mm in the last 3 months – and, yes, $186mm might seem a little insignificant to justify a $125 bln market cap – but relax… its Zoom. It’s so now… But I don’t know what it will be worth tomorrow.

SEE CHART:

Zoom Video

https://www.zerohedge.com/s3/files/inline-images/bfmC3DF.jpg?itok=G5Az4_6P

As far as I can make out the reason Zoom made any profit is companies signing off employee expenses to pay for the pro-version, which you need for a meeting longer than 45 mins: Zoom is not a bad company. Lucky and in the right place at the right time.

Other Tech firms do have stories to beguile us with – none more so than TESLA. When Elon tweeted his stock-price was too high a few weeks ago… well now we know what he meant. The stock split was a brilliant idea – enabling his legions to buy into the suddenly much cheaper 5 for 1 price. Brilliant. Tesla quietly raised $5 bln via a new stock sale! The market didn’t even blink.

SEE CHART:

https://www.zerohedge.com/s3/files/inline-images/bfmA04.jpg?itok=ceqiJq6q

These all sound like great steps forward – but they are improvements rather than invention or innovation. They sound laudable and fascinating tech projects – but will they justify Tesla’s 2% of the total global auto market being worth 40+% of the sector’s total market cap?

And I will remain unconvinced that all the trillions of miles of data that Tesla has acquired from every car its ever built means it is about to make every Tesla a high-earning self-drive taxi-asset for owners, or that it’s about to enable fully autonomous driving.

Of course, it’s not just equites that are irrational.

Take the bond market. European bonds are having a blistering September open.

I will definitely buy bank paper – at some point. But NO now. I won’t be buying banks or corporate subordinated paper at today’s levels – not when spreads are this stupidly incredibly tight, and non-reflective of the underlying risk. I prefer financing a cheese mining project on the moon. It looks a brilliant idea….

….

My opinion

[[ To me these speculators are crazy men: they live in permanent FEAR and if they are lucky playing this loto and place their money ‘at the right time in the right place’, they go the heaven, if not, to hell. IF they lose everything, end up in a psychiatric clinic or commit suicide. Of course speculation business requires studding the DYNAMIC of this business so that their inputs can get the expected output. Of course everything depends on time: in less than 2 hours (Chicago & Wall Street operations) they define their current life & future. Usual speculators don’t risk their whole money and are condemned to live on earth in permanent fear, they don’t have the duopoly trap that voter in election-time have: feeling of going to heaven iF their candidate win or going to hell IF don’t. At the end he is the ‘cándido’: obliged to vote f bad or worse ]]

----

Short news on US Economics:

US FACTORY ORDERS SURPRISE TO UPSIDE, REMAIN DOWN 6.2% YOY

The 'v' is still there in the hard data, but it is nothing like as 'confident' as the 'soft data' suggests...

After a solid 6.2% surge in June, US factory orders were expected to improve on that bounce with a 6.2% rise in July (especially after the scream higher in ISM Manufacturing's New Orders index yesterday), but the data was even better with a 6.4% rise (and a revised higher 6.4% rise in June).

However, on a YoY basis, Factory orders remain down 6.2%...

SEE Chart:

https://www.zerohedge.com/s3/files/inline-images/bfmE4DC.jpg?itok=LZESzRcm

The 'v' is still there in the hard data, but it is nothing like as 'confident' as the 'soft data' suggests...

SEE CHART:

https://www.zerohedge.com/s3/files/inline-images/bfm7A47.jpg?itok=vqT72-JO

We wait to see what Friday's jobs data says but for now, it is the 'soft' survey data that is leading the hype and 'hard' reality just not living up to the hype.

….

SOURCE: https://www.zerohedge.com/economics/us-factory-orders-surprise-upside-remain-down-62-yoy

----

THE S&P500'S VALUATION JUST SURPASSED THE DOT COM BUBBLE

We Have A New All Time High P/E Multiple.

Moments ago the S&P500's forward P/E multiple also hit an all time high, surpassing the dot com peak of 27x, printing at 27.02x last.

SEE CHART:

https://www.zerohedge.com/s3/files/inline-images/SPX%20ATH.jpg?itok=kYO60nAD

So with the S&P now trading at an all time absolute price and a record high forward P/E multiple, it also means that the S&P500 is now the most disconnected - to the upside - from both the median and average Wall Street target on record, which are 3,200 and 3,198, respectively.

See Charts

https://www.zerohedge.com/s3/files/inline-images/SPX%20vs%20foreacst.jpg?itok=txElVi31

On the other hand, in a world where clueless hacks (either those with a PhD or in front of their Robinhood app) set the price, perhaps it is as simple as this: a trend line which has capped every S&P advance for the past decade.

See Chart:

S&P 500 Resistance

https://www.zerohedge.com/s3/files/inline-images/SPX%20resistance_0.jpg?itok=NQxRmhZ_

Alternatively, for those asking if the S&P could hit not 4,000 but 5,000 the answer is yes, and we explained yesterday just how this could happen.

How the S&P gets to 5000:

1) every company announces a 5:1 stock split

2) 4 weeks later every company launches an At The Money sale of common stock to Robinhooders

3) the newly raised cash is used to buyback stock 4) repeat steps 1-3 as many times as necessary

4) repeat steps 1-3 as many times as necessary

….

SOURCE: https://www.zerohedge.com/markets/we-have-new-all-time-high-pe-multiple-sps-valuation-just-surpassed-dot-com-bubble

----

It wasn’t an act of war… It was Laura war: Nice alibi

WTI REBOUNDS ON HURRICANE-DRIVEN CRUDE DRAW, PRODUCTION PLUNGE

"Important to remember that so many numbers here in today’s data will be impacted by Hurricane Laura. So please take it all with a grain of salt!"

Hurricane Laura's effect on US crude production is clear as over 80% of the Gulf was shut in...

SEE CHART:

https://www.zerohedge.com/s3/files/inline-images/2020-09-02_7-26-36.jpg?itok=UeBBOS-5

US Crude production plunged 1.1mm b/d last week...

SEE CHART:

https://www.zerohedge.com/s3/files/inline-images/bfm698E.jpg?itok=AuB4_ewv

Let's see how long this bounce lasts. Catherine Ngai, Bloomberg's oil trading reporter, sums it up perfectly:

"Important to remember that so many numbers here in today’s data will be impacted by Hurricane Laura. So please take it all with a grain of salt!"

….

SOURCE https://www.zerohedge.com/energy/wti-rebounds-hurricane-driven-crude-draw-production-plunge

----

STOCKS ARE PUKING AT THE CASH OPEN

Are retail traders getting fed up with outages?

After an overnight session of exuberance with Nasdaq roaring ahead, extending yesterday's panic-buying opening day of September, today's cash market open in the US was met with a wave of selling...

SEE CHART:

https://www.zerohedge.com/s3/files/inline-images/2020-09-02_6-59-04.jpg?itok=KKuOafcz

….

SOURCE: https://www.zerohedge.com/markets/stocks-are-puking-cash-open

----

US DOMESTIC POLITICS

Seudo democ duopolico in US is obsolete; it’s full of frauds & corruption. Urge cambio

TRUMP LEADS BIDEN AT THE BOOKIES AMID SURGE IN BLACK AMERICANS' SUPPORT

According to the survey, 28 per cent of African-Americans say they plan to vote for Trump... This compares to 2016 when Trump attracted 8 per cent of the black vote..

The trend we have been noting for the last week has accelerated overnight and 'the streams have crossed', with the average bookie now seeing it more likely that President Trump wins the 2020 election that Joe Biden.

SEE CHART:

https://www.zerohedge.com/s3/files/inline-images/2020-09-02_2-35-06_0.jpg?itok=D7MpxYLh

….

SOURCE: https://www.zerohedge.com/political/trump-leads-biden-bookies-amid-surge-black-americans-support

====

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

FORMER CENTRAL BANKER: "THE WORLD IS HEADING TOWARDS A NEW MONETARY SYSTEM THAT INCORPORATES GOLD"

"I believe that we are moving towards a multi-reserve currency system in which gold, the dollar, the euro and other currencies take part."

====

WITH A RECORD NUMBER OF BULLS, THE EURO IS RIPE TO TUMBLE AFTER "EUPHORIC RUN"

"The ECB doesn't target FX rate, but the Euro-dollar rates matters" - ECB's Lane

Yesterday morning just moments after the EURUSD hit 1.20, the highest level in over two years, a level which sparked selling across European market, we predicted that any minute now the ECB would start talking down the EUR taking us back to "square one" in the currency wars.

SEE CHART:

https://www.zerohedge.com/s3/files/inline-images/EUR%202020-09-02_9-15-29.jpg?itok=35pOmrjB

See more Charts at:

SOURCE: https://www.zerohedge.com/markets/record-number-bulls-euro-ripe-tumble-after-euphoric-run

----

SPUTNIK and RT SHOWS

GEO-POL n GEO-ECO ..Focus on neoliberal expansion via wars & danger of WW3

- German Gov't Spokesman Claims Tests Show Navalny Was 'Poisoned by Novichok Group Nerve Agent' Are Nazis back to Germany? Why they want WW3 with RU?

- US Will Work With Allies to 'Hold Those Account' For Navalny's Alleged Poisoning

- The Reserve Bank of India is a Regulator, Not an Agent for Banks, Apex Court Told

- Dems Did Everything to Blow Second Election in a Row, But They'll Blame "The RU

- Memers Get To Ready to Chuckle As India Bans 118 More Chinese Apps, Games