0CT 13 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
BANKS BUST, BULLION BATTERED, BUT BIG-TECH BID (AGAIN)
Another day, another Nasdaq-Whale-driven gamma-squeeze in Nasdaq as the rest of the market deteriorated, giving back a lot (if not all) of yesterday's gains (Small Caps red from Friday)...
See Chart:
https://www.zerohedge.com/s3/files/inline-images/2020-10-13_13-00-03.jpg?itok=Ldw-ZW8d
While Nasdaq ended very marginally lower on the day, it outperformed significantly as FANG stocks managed gains (despite AAPL losses)
See Chart:
Fang Stocks
https://www.zerohedge.com/s3/files/inline-images/bfm2886_0.jpg?itok=E2DqLXUE
Nasdaq faces record delta and surging gamma into this Friday's Op-Ex...
See Chart:
https://www.zerohedge.com/s3/files/inline-images/2020-10-13_4-46-20.jpg?itok=mtbDuvU-
And if you don't know what gamma is - probably better not to play at this point in the farce
Nasdaq outperformed Small Caps once again, but also gave back a lot of the early day outperformance...
See Chart:
Nsdaq 100 vs Russell 2000
https://www.zerohedge.com/s3/files/inline-images/2020-10-13_12-26-26.jpg?itok=7DGs1AeU
Nasdaq outperformed Small Caps once again, but also gave back a lot of the early day outperformance...
See Chart:
https://www.zerohedge.com/s3/files/inline-images/2020-10-13_12-26-26.jpg?itok=7DGs1AeU
The S&P 500 was unable to take out its recent highs...
See Chart:
https://www.zerohedge.com/s3/files/inline-images/bfmADE8.jpg?itok=544qW7wC
Despite claims by the great and the good that earnings were awesome (thanks to cuts in provisions, despite no optimism on the economy?), bank stocks were battered today...
See Chart:
S&P Financials sectors
https://www.zerohedge.com/s3/files/inline-images/2020-10-13_12-09-41.jpg?itok=BwXqYw7m
AAPL tumbled during its iPhone launch as China killed the livestream...
See Chart:
https://www.zerohedge.com/s3/files/inline-images/2020-10-13_12-12-08.jpg?itok=R5SH9WIX
VIX did not rise with the underlying market today, suggesting the (call-buying) whale is starting to leave the market...
See Chart:
https://www.zerohedge.com/s3/files/inline-images/2020-10-13_12-53-34.jpg?itok=yx1vwTah
Having been closed yesterday, bond yield tumbled today...
See Chart:
https://www.zerohedge.com/s3/files/inline-images/bfm3F0B.jpg?itok=GWyehxU1
With UST 10Y back down to 72bps...
See Chart:
https://www.zerohedge.com/s3/files/inline-images/bfm213F.jpg?itok=MV6j4abh
Europe fall Send the B-dollar Index spiking higher...
See Chart:
https://www.zerohedge.com/s3/files/inline-images/bfm2B8B_0.jpg?itok=Q_hn0TLK
The dollar spike sparked a plunge in precious metals.
Gold futs tumbled back below $1900...
See Chart:
https://www.zerohedge.com/s3/files/inline-images/2020-10-13_12-16-21.jpg?itok=CWJi85H2
Finally, in case you were wondering what - aside from Softbank's Whale call-buying malarkey - is driving this meltup... it's "hope"...
See Chart:
Hope story count
See Chart:
https://www.zerohedge.com/s3/files/inline-images/bfmC5CD.jpg?itok=iCqsJx7T
...and everyone knows "hope is not a strategy!"
….
SOURCE: https://www.zerohedge.com/markets/banks-bust-bullion-battered-sterling-slammed-stocks-slump
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RICKARDS: WE DESTROYED THE WORLD'S GREATEST ECONOMY FOR NO REASON
Those supporting lockdowns have ignored the costs...
Authored by James Rickards via The Daily Reckoning,
Everyone knew the second quarter of 2020 was going to be a disaster, and it was. The U.S. economy fell by 31.4% (annualized) in the second quarter.
But, the expectation was that we’d have a V-shaped recovery with a sharp bounce-back in the third quarter, a reopening of closed businesses, rehiring of the unemployed and a rising stock market.
But so far, the economy is not following the script laid out for it by the politicians and experts.
OPEN SUBTITLES & READ ITS CONTENT:
Not as Good as It Sounds
When Will Output Return To 2019 Levels?
Another “L”-shaped Recovery
90% of Lockdown Benefits at Only 10% of the Cost
“We Destroyed the World’s Greatest Economy for No Good Reason”
SOURCE:
https://www.zerohedge.com/economics/rickards-we-destroyed-worlds-greatest-economy-no-reason
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MAPPING THE UNEVEN RECOVERY OF US SMALL BUSINESSES
...lockdown and work-from-home measures brought about by COVID-19 have disproportionately affected small businesses – particularly in the leisure and hospitality sectors.
Small businesses are the backbone of the U.S. economy, employing nearly half of the private sector workforce.
Unfortunately, as Visual Capitalist's Nick Routley details below, lockdown and work-from-home measures brought about by COVID-19 have disproportionately affected small businesses – particularly in the leisure and hospitality sectors.
As metro-level data from Opportunity Insights points out, geography makes a great deal of difference in the proportion of U.S. small businesses that have flipped their open sign. While some cities are mostly back to business as usual, others are in a situation where the majority of small businesses are still shuttered.
See Map:
% Change in number of small business open
https://www.zerohedge.com/s3/files/inline-images/small-businesses-closed-covid-19.png?itok=YpJ27q0O
The Big Picture
In the U.S. as a whole, data suggests that nearly a quarter of all small businesses remain closed. Of course, the situation on the ground differs from place to place. Here’s how cities around the country are doing, sorted by percentage of small businesses closed as of September 2020:
See Table:
https://www.zerohedge.com/s3/files/inline-images/2020-10-07_6-51-30.jpg?itok=HeZCCzkf
New Orleans and the Bay Area are still experiencing rates of small business closures that are almost double the national median.
Small businesses in the leisure and hospitality sector have been particularly hard hit, with 37% reporting no transaction data.
Getting Back to Business
Some cities are seeing rates of small business operation that are nearing pre-pandemic levels.
See Charts:
https://www.zerohedge.com/s3/files/inline-images/2020-10-07_6-51-54.jpg?itok=MnFtS27R
Still Shuttered
In cities with a large technology sector, such as San Francisco and Austin, COVID-19 is shaking up the economic patterns as entire companies switched to remote working almost overnight. This is bad news for the constellation of restaurants and services that cater to those workers.
See Chart:
Change in number of small business open
https://www.zerohedge.com/s3/files/inline-images/2020-10-07_6-52-21.jpg?itok=jCxpoUKP
As the pandemic drags on, many of these temporary closures are looking to be permanent. Yelp recently reported that of the restaurants marked as closed on their platform, 61% are shut down permanently. As well, businesses in the retail and nightlife categories also saw more than half of closures become permanent.
In Remembrance of Revenue
A business being completely closed is a definitive measure, but it doesn’t tell the whole story. Even for businesses that remained open, revenue is often far below pre-pandemic rates.
See Chart:
% Change in small business Revenue US
https://www.zerohedge.com/s3/files/inline-images/2020-10-07_6-52-51.jpg?itok=ckTSBXWq
At present, it’s hard to predict when, or even if, economic activity will completely recover. Though travel and some level of in-office work will eventually ramp back up, the small business landscape will continue to face major upheaval in the meantime.
….
SOURCE:
https://www.zerohedge.com/personal-finance/mapping-uneven-recovery-us-small-businesses
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US DOMESTIC POLITICS
Seudo democ duopolico in US is obsolete; it’s full of frauds & corruption. Urge cambio
Yes third PARTY is the only solution to avoid your burial
TRUMP SCORES WITH INDEPENDENTS AS SUBURBAN WOMEN LEAN LEFT
"The race is close and is a far better representation
when you include third parties."
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WHITE HOUSE APPROVES THREE ARMS SALES TO TAIWAN AS CHINA'S 'RETALIATION' THREATS ESCALATE
US has urged the island to drastically ramp up defense spending...
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Prepare for unrest...
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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
IMF URGES GOVERNMENTS TO "ENSURE CORPORATIONS PAY FAIR SHARE OF TAXES"
"Therefore, we see that the recovery from this catastrophic collapse will likely be long and even highly uncertain..."
The report, released Tuesday, shows the agency expects global growth to plunge 4.4% this year, an upward revision of 0.8 percentage points compared with the June estimates in the World Economic Outlook report, said IMF chief economist Gita Gopinath. For 2021, the IMF sees world growth at 5.2%, down from June's 5.4% projection.
See Chart
"The upward revision in the IMF's 2020 growth forecast reflects in particular better-than-projected second-quarter growth in the U.S. and the euro area, a stronger-than-anticipated return to growth in China and signs of a more rapid recovery in the third quarter," said Bloomberg.
See Chart:
In today's report, Gopinath said that "the global economy is climbing out from the depths to which it had plummeted during the Great Lockdown in April... But with the COVID-19 pandemic continuing to spread, many countries have slowed reopening and some are reinstating partial lockdowns to protect susceptible populations."
She said the crisis is "far from over." This year's contraction will be the deepest since the Great Depression, with COVID-19 killing more than one million people and collapsing the global economy.
See Table:
https://www.zerohedge.com/s3/files/inline-images/2020-10-13_0.png?itok=K3lNTOCL
As we've explained in recent weeks, severe wealth inequality imbalances are developing, as the poor are getting poorer, and the rich are getting richer - the imbalance is directly connected with how governments and central banks distribute monetary and or fiscal stimulus, with much of it flowing to mega-corporations. IMF estimates at least 90 million people worldwide are set to fall into "extreme poverty" this year.
Gopinath wrote in the report that economic recoveries "everywhere face difficult paths back to pre-pandemic activity levels."
See Chart:
https://www.zerohedge.com/s3/files/inline-images/2020-10-13_11-00-48.png?itok=zNK6P5HR
The IMF said a speedy recovery in China had been a surprise, but warned the global rebound remains vulnerable to setbacks. It noted that "prospects have worsened significantly in some developing countries where infections are rising rapidly."
See Chart:
Covid 19 new daily cases
https://www.zerohedge.com/s3/files/inline-images/2020-10-11_11-51-36_0.png?itok=7XJQQQhe
"Preventing further policy setbacks," the IMF said, "will require that policy support is not prematurely withdrawn." It warned that sovereign debt loads are set to rise sharply:
The global easing of monetary policy, while essential for the recovery, should be complemented with measures to prevent build-up of financial risks over the medium term, and central bank independence should be safeguarded at all costs. Needed fiscal spending and the output collapse have driven global sovereign debt levels to a record 100 percent of global GDP," the report said.
As analysts on Wall Street reasses whether a Biden victory and Democratic Senate sweep would truly be such a negative for the market, the IMF has highlighted the importance of keeping the money tap flowing - at least in the near term.
"While low interest rates alongside the projected rebound in growth in 2021 will stabilize debt levels in many countries, all will benefit from a medium-term fiscal framework to give confidence that debt remains sustainable. In the future, governments will likely need to raise the progressivity of their taxes while ensuring that corporations pay their fair share of taxes, alongside eliminating wasteful spending," the report said.
That wording seems extremely similar to Democratic Party talking points...
….
SOURCE: https://www.zerohedge.com/markets/2020-growth-outlook-revised-imf-lowers-next-years-forecast
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HAWAII "HAS COMMITTED SUICIDE" - LOCAL RAGES "HARDLY ANYONE IS SICK, BUT WE'RE ALL BROKE"
"Guys... I cannot tell you how bad it is in Hawaii..."
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SPUTNIK and RT SHOWS
GEO-POL n GEO-ECO ..Focus on neoliberal expansion via wars & danger of WW3
-Russia Shutters US' 'Agreement in Principle,' Calls Proposed New START Extension 'Unacceptable
- Coronavirus-Related Lockdown in Israel Extended Until 18 October
- German Foreign Minister Maas Says 'Extremely Surprised' by Turkey's Actions
- Pro-Trump Ad Again Features Footage of Non-Amer, This Time From RU Belarus
- US Attorney Asks Court to Release Russian National Osipova From Prison
- US Deeply Disapp After RU, China Elected to UN Human Rights Council,
- W B Approves $12Bln to Help Develop Countries Get CV-19 Vaccin, Treatmts
- Pentagon Drafting Plans to Withdraw US Troops From Somalia
- Trump Files Emerg Request With US Supreme Court to Shield Tax Records
- Vitamin D Deficiency Linked to Increased Risk for COVID-19 - ISR
- Biden Advised on CV by Son-in-Law Engaged in 'COVID-19 Investing'
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