SEP 9 2021 ND SIT EC y POL Part 1
ND denounce-neoliberal debacle y propone State-Social + Capit-compet in Eco
ZERO HEDGE ECONOMICS
Neoliberal globalization is over. Financiers know it, they documented with graphics
BONDS, BITCOIN, & BULLION BID; BIG-TECH & BLACK GOLD SKID
by Tyler Durden
...breadth stinks...
Today was supposed to be a buy the dip day... but that dip-buying effort failed in large part (Small Caps outperformed but suffered a big puke into the close)...
See Chart:
https://cms.zerohedge.com/s3/files/inline-images/2021-09-09_13-00-05.jpg?itok=i_hkw1sl
But all the majors remain red from last Friday...
See Chart:
Nasdaq vs small caps
https://cms.zerohedge.com/s3/files/inline-images/2021-09-09_12-49-19.jpg?itok=epTxM5JF
"...as if millions of voices cried out in terror and were suddenly silenced..."
The Dow closed back below its 50DMA for the first time in 2 months...
See Chart:
https://cms.zerohedge.com/s3/files/inline-images/2021-09-09_12-21-53.jpg?itok=H6GRwJ-u
Small Caps bounced off the 100DMA...
See Chart:
https://cms.zerohedge.com/s3/files/inline-images/2021-09-09_12-24-36.jpg?itok=Tk6sW19y
Mega-tech FANG stocks stumbled for a second day...
See Chart:
FANG stocks
https://cms.zerohedge.com/s3/files/inline-images/bfm311E.jpg?itok=qO1RW7yX
The flip-flopping rotation from cyclicals to defensives and back continued with defensives underperforming today...
See Chart:
https://cms.zerohedge.com/s3/files/inline-images/bfm5E8B.jpg?itok=UnrrbXWc
Very strong 30Y auction, echoing yesterday's very strong 10Y auction sent yields tumbling, erasing all the post-payrolls losses..
See Chart:
https://cms.zerohedge.com/s3/files/inline-images/bfm2138_0.jpg?itok=vuOwKY4D
30Y yields back below 1.90% and 10Y yields fell below 1.30%...
See Chart:
UST 10Y Yield
https://cms.zerohedge.com/s3/files/inline-images/bfmC7A3_0.jpg?itok=A3iUvKq5
The dollar reversed its brief rally after tagging the post-J-Hole plunge lows...
See Chart:
J-Hole Bloomberg Dollar Index
https://cms.zerohedge.com/s3/files/inline-images/bfm28E4.jpg?itok=24Uk0NH8
Wild ride in crude oil today, battered by China SPR release headlines, dip-bought, then inventory data and a super strong 30Y auction sent WTI reeling lower again...
See Chart:
China SPR / DOE
https://cms.zerohedge.com/s3/files/inline-images/2021-09-09_12-05-44.jpg?itok=4j5vOrGE
Gold was just as choppy today but ended higher - testing back above $1800...
See Chart:
https://cms.zerohedge.com/s3/files/inline-images/2021-09-09_12-20-22.jpg?itok=mN0znpSv
Finally, breadth stinks...
See Chart:
S&P 500 vs Breadth
https://cms.zerohedge.com/s3/files/inline-images/bfmBFE0_0.jpg?itok=r2K2Jn4y
….
SOURCE: https://www.zerohedge.com/markets/bonds-bitcoin-bullion-bid-big-tech-black-gold-skid
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HOW WILL THE DEBT LIMIT DRAMA PLAY OUT: HERE ARE THE TWO SCENARIOS
by Tyler Durden
Addressing a topic that could soon become a big concern for the bond market - the October dead limit deadline - Curvature's repo expert Scott Skyrm said this morning that, "for the past several years, Congress always reached a compromise before the possibility of a "technical default" creeped into the markets. This year, as we get closer to the "drop dead date" (which hasn't yet been determined) the markets will start pricing in distortions."
To this we can add that as we noted yesterday, distortions in the bond market are already clearly emerging, with the spread between October and November - this is where the market estimates the "drop dead date" will take place - T-Bills rising fast:
See Chart:
‘Debt ceiling ‘ Anxiety Proxi
https://cms.zerohedge.com/s3/files/inline-images/bfm1B43_0.jpg?itok=k046A1ca
The next chart shows that the T-Bill curve is clearly moving wider around the early November timeframe.
See Chart:
US Treasury bill curve
https://cms.zerohedge.com/s3/files/inline-images/2021-09-08_6-52-04_0.jpg?itok=AEkB-uCi
As a reminder, yesterday Treasury Secretary Yellen sent a letter to congressional leaders this morning indicating that the the Treasury will exhaust its cash and extraordinary measures "during the month of October". This slightly sooner than the "October or November" timing that the Congressional Budget Office had estimated in a report in late July.
So how will the upcoming debt limit drama play out? According to Goldman, there are several possible scenarios from here:
The most likely scenario is that Democratic leaders will attach a debt limit suspension to upcoming spending legislation to keep the federal government open past the end of the fiscal year (a "continuing resolution") and to provide emergency disaster relief funding related to the fires in the Western US and storm damage in the East and South. As 46 Senate Republicans have indicated they will block a debt limit increase, there is a good chance this strategy will not succeed. That said, passage of short-term debt limit might be possible as several Republican senators represent states affected by recent disasters. One option Republicans might consider would be to vote against the bill but decline to filibuster it, allowing it to pass with only 51 votes in the Senate. This would likely require unanimous Democratic support in that chamber, which is possible but not certain.
If Senate Republicans block the spending bill later this month, Democratic leaders would then need to decide whether to force the issue and risk a partial federal government shutdown, or to remove the debt limit suspension from the spending bill. If lawmakers end in a stalemate, a government shutdown might follow, though Goldman does not see this as the base case.
If they are unable to raise the debt limit as part of a spending bill, they might consider using the reconciliation process to pass it with only 51 votes. However, this faces two challenges:
· First, it is unclear whether all Senate Democrats would vote for a revised budget resolution that increases the debt limit by several trillion dollars. if Democrats use the reconciliation process, Senate rules would probably allow them only to raise the debt limit by a specific dollar figure, which would lead to more politically problematic headlines, rather than suspend it for a period of time, which has become the norm over the last decade as it does not lead to a specific dollar amount at the time of passage.
· Second, the current reconciliation process to pass as much as $3.5 trillion in new spending is already underway, with House committees already in the process of considering and passing their segments of the bill in committee. Revising the budget resolution, which governs that process, could interfere with consideration of that legislation, and would likely take at least a couple of weeks, if not longer. If Democrats wait until Sep. 30 to test support for a debt limit increase as part of the spending bill, they might not have sufficient time to go through all of the procedures necessary to revise the resolution before the debt limit deadline.
In other words, as on every prior occasion when the debt limit was raised or extended in the last possible minute, this time is unlikely to be an exception - after all the alternative is a catastrophic outcome for the US. However, the longer Congress waits the more challenging the debt limit process becomes, and could be thrown for a loop if one or more holdouts block the process in the last minute, unleashing chaos in the market if only to provoke politicians into action. As we get closer to the D-Day, keep an eye on the spread in T-Bills for an indication of just how nervous the market is becoming.
….
SOURCE: https://www.zerohedge.com/markets/how-will-debt-limit-drama-play-out-here-are-two-scenarios
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Seudo democ duopolico in US is obsolete; it’s full of frauds & corruption.
Vax terrorism blessed by Biden
'No jab, no job...'
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Are we falling into Fascism?
LAPD ORDERS COPS TO COLLECT SOCIAL MEDIA DATA ON EVERY SINGLE PERSON THEY STOP
"This is happening with the clear goal of surveillance..."
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New Law: the greatest medicine is the one who kill fast
CALIFORNIA'S TOP GRID OPERATOR ASKS FEDS TO BURN MORE FOSSIL FUELS TO AVERT BLACKOUTS
"An emergency order will allow ..."
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A matter of religious dogma: IN US GOD BLESS IGNORANCE
INTELLIGENCE COMMUNITY ASSESSMENT ON COVID-19 ORIGINS IGNORES READILY AVAILABLE INFORMATION
...curiously ignores readily available information, instead choosing to focus on and reinforce questions that are, for the most part, unknowable...
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In this nasty sport: we are now the champions of the world
US AIRSTRIKES HAVE KILLED UP TO 48,000 CIVILIANS SINCE 9/11
97% of reported civilian deaths during the War on Terror took place in three countries—Iraq, Afghanistan, and Syria.
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We are D richest country in the world, so rich that cause pain & shame at same time
OWNER OF THE COUNTRY'S MOST EXPENSIVE MEGA-MANSION HAS DEFAULTED ON $165 MILLION IN DEBT
"Seven years ago, I had an idea to create the biggest, most expensive house in the urban world: The One Bel-Air. And I did it."
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An exception to the rule:
WALMART IS ENDING QUARTERLY BONUSES FOR STORE WORKERS AFTER DECADES
A spokesperson for the company claimed that base pay was the "most important" for sales reps, though we're sure we could find a couple of workers who would disagree...
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Other exception to the rule:
Just when you thought the farce couldn't get any bigger..
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The other side of rich country: Drogadictos a granel en cada barrio pobre de NY
In city after city, hopelessly addicted men and women wander the streets of our core urban areas like zombies...
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They will become beggars in US after loss money.. better go back
NEW HEAD OF TALIBAN GOVERNMENT URGES AFGHAN EX-OFFICIALS TO RETURN, VOWS THEIR "SAFETY & SECURITY"
PM Akhund claims Taliban has
"not harmed anyone because of his previous actions."
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Only Trump believes that ‘train wreck’ is good in politics, but he is inside d train
RECALL ELECTION COULD REVERSE THE CALIFORNIA IDEOLOGY
A careening Golden State is heading for a colossal train wreck.
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IS BIDEN AGAINST THE CONSTITUTION?
NEW EVIDENCE SURFACES THAT THE BIDEN ADMIN COMMITTED TO A KNOWINGLY UNCONSTITUTIONAL ACT
“Please remember it was the Biden/Harris transition team that you headed up that told us that debt relief for Black farmers was ‘unconstitutional.'”
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US-WORLD ISSUES (Geo Econ, Geo Pol & global Wars)
Global depression is on…China, RU, Iran search for State socialis, D rest in limbo
Japan has been infected severely by WAR PANDEMIC
The uranium sector is poised for a huge breakout due to both technical and fundamental reasons.
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Dead for Peace or ‘We love PEACE TO REAL DEAD’
US SAILS WARSHIP NEAR CHINESE-CLAIMED REEF, TESTING NEW MARITIME LAW
China again denounced the US as the
'biggest destroyer' of peace in the region...
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In world History all revolution succeeded with dictatorship. Taliban assault follow rule
TALIBAN DECLARE BAN ON SLOGANS, PROTESTS THAT DON’T HAVE THEIR APPROVAL
The decree also accused Afghans protesting in Kabul and other provinces in recent days for “disrupting security, harassing people, and disrupting normal life...”
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SPUTNIK NEWS : https://sputniknews.com/
- Security Council Discusses Possible Extension of UN Assistance Mission in Afghanistan
- Hackers Reportedly Broke Into United Nations Earlier This Year and Stole Sensitive Data
- Top US Commanders to Testify in Senate on Afghanistan Withdrawal
- Turkey Detains 13 Daesh Terror Suspects in Ankara, Reports Suggest
- Biden to Withdraw His ATF Head Nominee Due to Congressional Opposition, Reports Suggest
- US Weekly Jobless Claims at 310,000 in New Pandemic Low
- Singapore Jails Citizen on Terrorist Funding Charges for First Time in History, Reports Say
- BRICS: India Pledges to Boost Trade, Tech Ties With China Amid Ladakh Border Standoff
- Russian Foreign Minister Lavrov and His Israeli Counterpart Lapid Hold Joint Press Conference
- Moscow Believes Chilly Relations With US Do Not Mean Anti-Terrorism Effort Futility
- Tropical Storm Mindy Strikes US' Florida, Moving Over State's North, Hurricane Centre Says
- Japan's Ex-Defence Minister Taro Kono Plans to Bid for Ruling Party Leadership, Reports Suggest
- China's Xi Congratulates Kim Jong-un on 73rd Anniversary of North Korea's Founding
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