JAN 1 21 ND SIT EC y POL
ND denounce Global-neoliberal debacle y propone State-Social + Capit-compet in Eco
"Hospital and public officials met to strategize how best to distribute the unused doses..."
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ZERO HEDGE ECONOMICS
Neoliberal globalization is over. Financiers know it, they documented with graphics
US HOUSING ENTERS 2021 IN A MASSIVE BUBBLE
by Tyler Durden
This is far bigger than the housing bubble of 2006...
Here is Goldman's housing activity tracker. If this isn't a bubble...
See Chart:
Goldman Sachs Housing Activity Tracker
https://cms.zerohedge.com/s3/files/inline-images/gs%20housing%20activity%20tracker.jpg?itok=8zXjK06c
Not convinced? Virtually every data series is experiencing a V-shaped recovery.
See Charts:
https://cms.zerohedge.com/s3/files/inline-images/v%20shaped%20recovery%201.1.jpg?itok=-oFWfG-e
As demand soars, prices have no way to go but up because supply is plunging:
See Charts:
CONTINUE SEEING MORE CHARTS & COMMENTS AT
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SOURCE: https://www.zerohedge.com/markets/us-housing-enters-2021-massive-bubble
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HOW TO MAKE LOANS SCARCE IN THREE WORDS: CAP INTEREST RATES
Authored by Mike Shedlock via MishTalk,
Here's a perfect free-market example of what not to do about allegedly high interest rates...
See Charts:
Interest Rate Caps
Reuters reports Peru Passes Law Allowing Central Bank to Cap Interest Rates on Bank Loans.
Peru’s Congress approved on Wednesday a law that will allow policymakers to cap interest rates on loans granted by banks, a controversial measure that has been deeply critiqued by the Andean nation’s government and financial institutions.
The law empowers the country’s central bank to set maximum and minimum interest rates every six months in order to regulate the loan market, a measure law-makers said is necessary to protect Peruvians from abusive lending practices.
Loophole
The loophole in the bill is that it "allows" rather than "requires" the Central Bank to cap rates on bank loans.
Regardless, this is a horrible idea.
If the Central Bank or government set rates that are too low, loans will dry up.
This is similar to Venezuela setting the price of gasoline at 10 cents a gallon. That's the official price but the supply at that price is zero.
The government set the price of gasoline but it cannot secure the supply.
The result is a huge black market.
What About the Fed?
The Fed does not set bank loan rates directly, but it does influence them.
For example, mortgages loan rates are generally tied to interest rates on 10-year US Treasuries that the Fed does manipulate.
Interest Rate Floors and Subsidies
Unlike the setup in Venezuela, the Fed can indeed provide all the supply of dollars it wants. And as long as borrowers use the money for speculation, housing, and other items that do not show up in official inflation stats, the Fed can get away with it.
Low interest rates helped fuel the stock market bubble and other speculative activities. The result was three major bubbles in 20 years, with allegedly low inflation.
Few see the current bubble only because it has not popped yet.
These are all good reasons to end the Fed and let the market set rates.
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Source: https://www.zerohedge.com/personal-finance/how-make-loans-scarce-two-words-cap-interest-rates
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ADOPTING A GOLD STANDARD WOULD PROMOTE FISCAL DISCIPLINE
Authored by James Caton via The American Institute for Economic Research,
Many are surprised to learn that famed central banker Alan Greenspan has been a longtime supporter of the gold standard. But the record is clear...
Greenspan published an essay in support of a gold standard with unregulated banking titled “Gold and Economic Freedom” in July 1966. He remained an advocate of the gold standard at the time of his appointment as Chairman of the Federal Reserve in 1987. And he has continued to wax about the gold standard in the time since leaving the Fed.
Among other things, Greenspan recognizes that the gold standard constrains government spending – and borrowing.
In this era of unprecedented control, the central bank has supported a massive expansion of federal borrowing. Since the Federal Reserve now sets the short-term rate, it can maintain historically low interest rates that support large fiscal deficits. Jerome Powell, the current chair, has even advocated for increases in federal spending in a wish to coordinate monetary and fiscal policies.
This system of monetary control suffers from massive tail risk. The value of the dollar depends upon the expectation that the government can repay its debts in the future. As Greenspan pointed out, the ability of a government to borrow depends on its convincing investors that the government will receive future taxes sufficient to repay the debt. With historically low rates set by the Federal Reserve, there is essentially no constraint on government spending except for the threat of default.
F.A. Hayek recognized in a 1935 interview with The Economist, it is unlikely that the world could return to a gold standard as it had functioned before World War I. To do so would require that major holders of gold reserves would be willing to reduce their holdings, essentially donating to central banks that arrived late to the gold standard. When the international gold standard was established during the 1870s, gold and silver circulated as money. Bank lending depended on holdings of these metals as reserves. To attempt to return to the classical gold standard today would likely face difficulties that would outweigh the benefits.
Continue reading at:
SOURCE: https://www.zerohedge.com/economics/adopting-gold-standard-would-promote-fiscal-discipline
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US DOMESTIC POLITICS
Seudo democ duopolico in US is obsolete; it’s full of frauds & corruption. Urge cambio
EX-CIA OFFICER: THE DARK PAST OF BIDEN'S NOMINEE FOR NATIONAL INTELLIGENCE DIRECTOR
Haines’s attitude was similar to Brennan’s: The CIA was going to do what it was going to do, and she would make no apologies for it.
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2 MINNESOTA LAWMAKERS SAY STATE'S COVID-19 DEATHS INACCURATE, DEMAND NATIONWIDE AUDIT
“If you could hit a threshold of admissions to your hospital with COVID-19 diagnosis..., you received $77,000 of additional money for each one of those admissions through the CARES Act... I don’t think there’s any questions that reverse incentives have been created.”
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You can pardon huge mistakes to the rich but not a minor one in favor of the poor..
SEATTLE BILL COULD 'LEGALIZE CRIME' FOR THOSE IN POVERTY OR WITH BEHAVIORAL ISSUES
...yet another example of the city falling under pressure from radical left wing organizations...
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Then you are the insane -not a radical leftist- but ultra-rightist pro fascism
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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
UK JUDGE TO GIVE DECISION ON ASSANGE EXTRADITION ON MONDAY
Authored by Dave DeCamp via AntiWar.com,
Potential Trump pardon still overshadows Monday's key ruling...
On Monday, January 4th, the British judge presiding over the extradition trial of WikiLeaks founder Julian Assange will decide whether or not Assange will be extradited to the US and tried under the Espionage Act for exposing US war crimes.
If extradited to US, Assange could face up to 175 years in prison. President Trump's Justice Department indicted the WikiLeaks founder on 17 counts of espionage and one count of conspiracy to commit a computer crime. The charges revolve around documents provided to WikiLeaks by former US Army soldier Chelsea Manning.
There have been rumors that President Trump is considering pardoning Assange, and many are urging him to do so. Assange’s fiancee Stella Moris made her case for the pardon recently on Fox News.
"The consequences of a trial against Julian don’t just affect him or us as a family because everyone agrees this is a terrible, terrible case. It’s a terrible case because it is the end of the first amendment," she said.
Assange has been held in London’s Belmarsh Prison since April 2019. A UN special rapporteur, Nils Melzer, has likened Assange’s treatment in Belmarsh to torture.
Melzer recently spoke out against the extradition, accusing the US of criminalizing journalism.
"In essence, the United States is trying to criminalize investigative journalism. That’s the purpose of the extradition request, nothing else," Melzer said.
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SOURCE: https://www.zerohedge.com/political/uk-judge-give-decision-assange-extradition-monday
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IRAN PUTS MARITIME FORCES ON HIGHER ALERT AS TOP GENERAL WARNS 'READY TO RESPOND' TO US PRESSURE
"Not clear if moves are 'defensive' because they expect US attack, or are signals Iran preparing for operations in the Gulf against the US..." notes CNN's Pentagon correspondent.
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SPUTNIK and RT SHOWS
GEO-POL n GEO-ECO ..Focus on neoliberal expansion via wars & danger of WW3
- Large Passenger Plane Crash Death Toll on the Rise Worldwide in 2020, Report Says
- California Sets Daily Record With 585 New Fatalities
- Blockchain, AI Ethics Among Top 10 Next Geopolitics Risks in 2021
- History in the Making: Senate Votes to Override Trump’s Defence Bill Veto On 23 December, President Trump vetoed the $740 billion 2021 National Defence Authorisation Act, saying it failed to provide respect to US veterans and military history and contradicted his “America First” vision of national security. The House moved to override the veto on Monday.
The United States Senate has overriden the president's veto on the 2021 defense spending package, voting 81-13 on Friday and thus securing the two-thirds majority that is needed to chuck out the veto.
- 'Maybe It's Time For a New Party': Ex-GOP Senator Calls Trump the Republican 'Ringmaster' While sitting president Donald Trump continues to contest the outcome of the presidential election, some fellow Republicans have stepped forward with an initiative to object to the certification of the 14 December Electoral College vote that gave the 2020 White House win to Joe Biden.
- Major Plane Makers to Become More Dependent on Expanding Chinese Market
- Key Biden Cabinet Picks Made Millions With Corporate Speaking and Consulting Gigs, Docs Reveal
- Iraqi Security Forces Work to Deactivate Mine Discovered on Oil Tanker
-Lebanon: Four Planes Damaged by New Year Shooting in Beirut
- Trump Announces 'BIG' 6 January Protest Rally in Washington DC
- Iran Has ‘No Worries’ About Any Foreign Adversary as US Carrier Group Heads Home
- Iran Tells IAEA It Plans to Push Uranium Enrichment Up to 20%, the Level Achieved Before JCPOA
- US Sanctions Cuban Bank for Alleged Ties With Military, Pompeo Says
- US Senate Leader McConnell Blocks $2K Stimulus Checks Effort for Third Day in a Row
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