DEC 10 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
THE OIL REFINERY CRISIS WILL WORSEN THIS WINTER
...only to be expected that many of the world’s refiners would be pinched between low demand for finished products and rising inventories as the pandemic lockdowns continue to stifle activity...
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US HOUSEHOLD WEALTH HITS ALL-TIME HIGH AS "TOP 1%" HAVE NEVER BEEN RICHER WHILE POOR DROWN IN DEBT
The wealthy have never been wealthier, while half of America, some 50% of households, own just 1% of the country's wealth, down from 3% in 1989 as America's poor have never been more in debt.
See Chart:
Assets, liabilities and Net Worth
https://cms.zerohedge.com/s3/files/inline-images/net%20worth%20Q3%202020.jpg?itok=Nx9Xhoc7
As a percentage of Disposable Personal Income, total assets rose back to a near all-time high of 791% of DPI, while net worth was 696% of disposable income, also just shy of all time high.
See Chart:
Assets, liabilities and Net Worth
https://cms.zerohedge.com/s3/files/inline-images/net%20worth%20of%20dpi.jpg?itok=ZO_5mxzj
As usual, the biggest swing factor was in the value of market-linked securities: in Q3, the value of directly and indirectly held corporate equities increased by $2.76 trillion due to the continued surge in stock prices (after the record $6.19 trillion increase in Q2), while the value of real estate held by households by a far more modest $430 billion. The high rate of personal saving also contributed to the increase in net worth, while the value of real estate held by households increased modestly. Homeowners’ real estate holdings minus the change in mortgage debt rose $288.3 billion (a positive value indicates that the value of real estate is growing at a faster pace than household mortgage debt).
See Chart:
https://cms.zerohedge.com/s3/files/inline-images/net%20worth%20dec%202020.jpg?itok=qDOKgY24
On the liabilities side, total credit rose 3.8% with household debt surging 5.6% to $16.4 trillion, driven by the biggest quarterly increase in mortgage debt since 2007.
See Chart:
All nonfinancial sector debt
https://cms.zerohedge.com/s3/files/inline-images/household%20debt%20q3%202020.jpg?itok=f7_ZFx_-
According to a record Census Bureau report, over the past decade, during an economic expansion that benefited most Americans, the richest made out the best. In fact, the CB found that the top 5% of households - those making $451,122 on average last year - have seen their inflation-adjusted incomes jump 28% since 2009.
The gain - which helped push inequality to the widest in decades - compares with a mere 11% rise for the bottom 20%, whose income rose to about $15,290 from roughly $13,800 a decade ago. Those in the middle groups - who made between $40,600 and $111,100 last year - saw their incomes rise between 16% to 18%, the data show
See Chart:
State of Inequality
https://cms.zerohedge.com/s3/files/inline-images/net%20worth%20change%20LT_0.jpg?itok=cEkHNzIv
CONCLUSION
And there - as we say quarter after quarter- is your "recovery": the wealthy have never been wealthier, while half of America, some 50% of households, own just 1% of the country's wealth, down from 3% in 1989. And finally, America's poor have never been more in debt.
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US DOMESTIC POLITICS
Seudo democ duopolico in US is obsolete; it’s full of frauds & corruption. Urge cambio
WILL COVID COOL MILLENNIALS' CRUSH ON SOCIALISM?
The political fallout of COVID-19 remains to be seen. Perhaps, Millennials will embrace governmental excess in response to a novel virus. Perhaps, we will begin to question that encroachment into our daily lives...
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NATO IS DETERMINED TO FIND THREATS AND CHALLENGES TO JUSTIFY ITS EXISTENCE
Thank you “history’s most successful alliance” for reducing a country to a state of anarchic mayhem... What can we expect next in the Nato playbook? Russia and China, of course.
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FACEBOOK FACT-CHECKER FUNDED BY CHINESE MONEY THROUGH TIKTOK
"TikTok is currently being probed by American authorities as a national security threat..."
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A 2021 GRAY SWAN: COULD THE US AND CHINA GO TO WAR OVER TAIWAN?
With all the talk about the return of Great Power politics, few are actually looking for a direct confrontation between the US and China. Yet, we could easily see a path to one that runs through Taiwan.
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...because "science."
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BIDEN IS OFF TO A BAD START UNDER PROGRESSIVE PRESSURE
Biden is off to a bad start by listening to the Progressive wing that damn near cost him the election...
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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
ESCOBAR: US HITS SEARCH & DESTROY AGAINST THE NEW SILK ROADS
Nothing will fundamentally change under the Biden administration with hybrid war on China still top of the agenda...
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CHINESE MILITARY BASES IN THE CARIBBEAN?
Chinese Defense Minister Wei Fenghe already is on record expressing China's willingness to deepen military cooperation with Caribbean countries...
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"THE MARKET IS BEING SHUT DOWN": EUROPEAN BOND MARKET DISAPPEARS AS ECB TAKES OVER
The ECB will soon own a majority of German and Italian bonds.
See Chart:
https://cms.zerohedge.com/s3/files/inline-images/death%20of%20vol.jpg?itok=XwSpPV-R
It's not all doom and gloom: there is some hope that bond market volatility will return, but that would require central banks to pull back, which however would spark a liquidation panic and trigger sovereign defaults left and right as yields explode. It's also why it will never happen: as Bloomberg notes, "since the financial crisis it has been a one-way street. Turnover in German bonds hit the lowest level since at least 2005 in the second half of last year, according to data from the Association for Financial Markets in Europe, and that was before the most recent bond-buying spree."
See Chart:
Dying market: trading in German bonds was steadily fallen before latest QE wave
https://cms.zerohedge.com/s3/files/inline-images/german%20bunds.jpg?itok=5INo9hRN
So, with central banks nationalizing bond markets, what a re traders to do? Well, since nobody trades bonds anymore, they are turning to the foreign-exchange market to make money and concerns are growing that investors are taking bigger risks elsewhere in markets to compensate. It's unclear what they will do when central banks nationalize the FX market next...
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SPUTNIK and RT SHOWS
GEO-POL n GEO-ECO ..Focus on neoliberal expansion via wars & danger of WW3
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- Sweden to Remove 'Mother' and 'Father' From Parental Code to Make It Gender Neutral
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