AUG 28 SIT EC y POL
LATEST FROM MICHAEL HUDSON:
Killing the Host: Coming
Soon. August 26, 2015
By Michael
The new book –
Killing the Host – How Financial Parasites and Debt Destroy Global Economy will
most likely be available from September 8, depending on the Amazon process.
I’ve discussed the book on Democracy Now and the Kaiser Report, but will wait
to do more interviews until after Sept.
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The
Public Interest & its Planned Obsolescence. August 28, 2015
By Michael
Another in the
series of interviews on the Renegade Economists radio show, with Tune Nielsen
(Positive Money Denmark, Gode Penge ) and host Karl Fitzgerald. QE for the
People by Renegade Economists on Mixcloud Part 2 to the Forest Park interview
with Prof Michael Hudson.
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IN CASE YOY MISS IT
Prof. Wolff talks to
The Big Picture's Thom Hartmann about Monday’s historic lows in the
financial markets. Prof. Wolff breaks down China’s economy and if the
devaluation of the yuan is the root to this market meltdown. Then Prof. Wolff
and Thom take a look at the U.S. economy and review wage growth, inequality,
and pensions.
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ZERO HEDGE
It is undeniable; the final collapse triggers are
upon us, triggers alternative economists have been warning about since
the initial implosion of 2008. You would think that the more obvious the
economic collapse becomes, the more alternative analysts will be vindicated and
the more awake and aware the average person will be. Not necessarily... In
fact, the mainstream spin machine is going into high speed the more negative
data is exposed and absorbed into the markets. If you know your
history, then you know that this is a common tactic by the establishment elite
to string the public along with false hopes so that they do not prepare or take
alternative measures while the system crumbles around their ears. At
the onset of the Great Depression the same strategies were used.
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Our form of government today allows revolution
(theoretically) through the ballot box rather than on the battlefield. But
nonetheless, the message for our political elites today is much the same as it
was in 1776: They ignore the people’s contempt at their own risk.
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The
One Chart The Military-Industrial Complex Is Hoping Mean Reverts. Submitted
by Tyler Durden on 08/28/2015
While most of the world will be hoping the following chart
never (ever) mean-reverts to its previous historically devastating highs, there
is one group that is 'banking' on it... The Military-Industrial
Complex...
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...as soon as credit expansion stops, the piper must
be paid, and the inevitable readjustments must liquidate the unsound
overinvestments of the boom and redirect the economy. And, of course, the
longer the boom is kept going, the greater the malinvestments that must be
liquidated, and the more harrowing the readjustments that must be
made.
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US
Falls Behind Canada, Finland, And Hong Kong In Human Freedom Index. Submitted
by Tyler Durden on 08/28/2015
The United States lags far behind other developed
countries in terms of personal, civil and economic freedoms, according
to a study released this month. Its neighbor to the north, for example, ranked
14 spots ahead of the so-called “Land of the Free.”
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People have their hopes and dreams tied on a quarter of a
percent. That’s how ridiculous things have become. People are so
horrified that if money isn’t absolutely free that all hell will break
loose—that people are going to go broke, the market’s going to crash, and that
there won’t be any jobs. That’s a pretty sad state of affairs, and
it is by no stretch of the imagination the foundation for a free and prosperous
nation. It is the height of central planning and it is a form of
economic tyranny.
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"No
Recovery For You!" Brazil Officially Enters Recession, Goldman Calls
Numbers "Disquieting". Submitted by Tyler
Durden on 08/28/2015
You know what they say: when it rains it pours, especially
when you’re the poster child for an epic emerging market unwind and you’re
suffering through the worst inflation-growth outcome in over a decade while
trying to combat dual deficits and ward off political and social upheaval.
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Weekend
Reading: Just A Correction, Or Something Else. Submitted by Tyler
Durden on 08/28/2015
"You take the blue pill, the story ends. You wake up
in your bed and believe whatever you want to believe. You take the red
pill, you stay in wonderland, and I show you how deep the rabbit hole goes." - Morpheus,
The Matrix
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Many were stunned at the pace of the v-shaped
recovery in US equity markets this week after Monday and Tuesday's carnage.However,
as the following chart makes very clear, there was good reason for it... Having
overshot to the downside of "Fed-Balance-Sheet-Implied" levels but
around 100 S&P points, the broad index ripped back higher to almost
perfectly settle at "Fed Fair Value" - between 1980 and 2000. But,
there is a rather ominous event occuring in 2016 that is out of The Fed's
control that implies S&P 1,800 unless QE4 is unleashed.
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In the midst of turmoil among asset classes, investors
tend to make irrational decisions, such as panicking and liquidating at
inopportune times. Nobel Prize-winning Psychologist Daniel Kahneman
helps explain ill-conceived reactions to the market with his concept of loss
aversion. That’s the fear and feelings of loss surpass the joy one may receive
from a similarly sized potential gain. In order to frame this
discussion of volatility, we dug up old surveys of institutional and individual
investors that recorded their responses to the 1987 market crash
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Heberler reports
that Saudi ground troops have entered Northern Yemen and seized control
of two areas in the Saada province. WTI is now above $45...
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Pennsylvania
Schools Start New Year Broke With "Minus $1 Billion" In Funding.
Submitted by Tyler Durden on 08/28/2015
Following another epic round of central bank intervention,
yesterday the Pennsylvania Association of School Business Officials announced
something far more troubling: Pennsylvania schools are starting the
year "minus $1 billion" in funds.
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Core personal consumption growth in July was just 1.2% - the
weakest since March 2011. Whatever The Fed is doing to grow the middle class
(yes, yes, we know: that's not in the mandate - only the "wealth
effect" is) is not working and as the following chart suggests hasn't
worked for the past 35 years. Read also Personal
Spending Misses Expectations By Most Since January, Income Juiced By Government
Handouts
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After the U.S. Drug Enforcement Agency (DEA) was kicked
out of Bolivia, the country was able to drastically reduce the amount of coca
(cocaine) produced within its borders.According to data released by the
United Nations, cocaine production in the country declined by 11% in the past
year, marking the fourth year in a row of steady decrease.
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If you can't work for yourself and afford health
insurance, something is seriously messed up.
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If anyone was curious why the Fear and Greed index is at 13
(up from 5) despite the biggest 2-day surge in the Dow Jones ever, the answer
is very simple: nobody believes the "broken market "any more, as
confirmed by the biggest weekly equity outflow on record.
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This is the first time that the 50-day moving average
crosses below the 200-day moving average since August 2011, creating
the ominous-sounding "death cross." The month following this 'event'
has produced negative returns 80% of the time...
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After 3 days of carnage and a day of stability, it appears
the death of the bond bull market has once again been greatly exagerated.
Whether it is China's absence after a strengthenig in the Yuan overnight or
month-end rebalancing amid equity vol, Treasury yields are notably
lower this morning...
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The
Financial Times Demands End Of Cash, Calls It A "Barbarous Relic".
S- by Tyler Durden on 08/28/15
Earlier this week, as the financial world was mesmerized by
a min-stock market crash, the Financial Times published a dastardly little
piece of fascist propaganda titled, The Case for Retiring Another “Barbarous
Relic.” When you start to see increased propaganda about banning
cash, you know the status quo is very scared and things are getting very
serious.You’ve been warned.
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Submitted by Tyler
Durden on 08/28/2015 - 07:37
- Stock
Halts Added to Monday’s Market Chaos (WSJ)
- Fed Up
Investors Yank Cash From Almost Everything Just Like 2008 (BBG)
- Drop
in Stock Futures Signal Halt to S&P 500's Relief Rally (BBG)
- at least until the BOJ ramps USDJPY up again
- Hacker
Killed by Drone Was Islamic State’s ‘Secret Weapon’ (WSJ)
- Greece's
Syriza to win election but face setback, poll shows (Reuters)
- Puerto
Rico Spends More Than $60 Million on Debt Restructuring (BBG)
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China
Surge Continues, Futures Slide As Jittery Market Looks For Jackson Hole Valium.
Submitted by Tyler Durden on 08/28/2015
Overnight's start attraction was as usual China's stock
market, where trading was generally less dramatic than Thursday's furious last
hour engineered ramp, as stocks rose modestly off the open only to see a bout
of buying throughout the entire afternoon session, closing 4.8% higher, and
bringing the gain over the last two days to over 10%. This happens as China
dumped a boatload of US paper to push the CNY higher the most since March,
strengthening from 6.4053 to 6.3986, even as Chinese industrial profits tumbled
2.9% from last year: this in a country that still represents its GDP is rising
by 7%. Expect much more Yuan devaluation in the coming weeks.
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LATEST FROM LE MONDE DIPLOMATIQUE
Here some selected articles open to all public:
A choice of
billionaires - Serge Halimi
Barack Obama and Mitt Romney both spent around $1bn on their
2012 presidential campaigns. Rather than fund a candidate in 2016, New York
billionaire Donald Trump decided to stand himself. "My income is $400m a
year," he claimed. "Sure, I would spend it [on campaigning]." In
1992 billionaire Ross Perot promised to "buy the White House to give it
back to Americans who can no longer afford it."
Like Perot, Trump will probably fail, while shedding his own light on how the US political system works: (...) . Translated by George Miller [ This art doesn't say nothing on the worse billionaire, Mrs Clinton]
Like Perot, Trump will probably fail, while shedding his own light on how the US political system works: (...) . Translated by George Miller [ This art doesn't say nothing on the worse billionaire, Mrs Clinton]
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Iranian hopes and fears - Camelia Entekhabifard. What
will change after sanctions?
Iranians expect urgent economic improvements after the end
of sanctions, and the regime will have to manage these expectations or face
disappointment. Any political opening will depend on two major elections next
year. Translated by Wendy Kristianasen
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Country without a port* - Cédric Gouverneur. Ruling
soon in Bolivia-Chile dispute over sea access
Chile annexed Bolivia's Pacific coast back in the 19th
century, a deprivation that still affects its prosperity. The International
Court of Justice is considering its verdict on restoring Bolivia's sovereign
access to the sea. Translated by Charles Goulden [.and the most important art has to be bought.. what a French fried ]
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INFORMATION CLEARING HOUSE
The Myth of a Russian 'Threat'. By
Pepe Escobar
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Terrorists Are A Tool Of Israeli Aggression:
President al-Assad . Full
interview with President al-Assad
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Capitalism Delenda Est. By Paul
Edwards. Capitalismo de predatory phace of Human Development
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A White Man’s Fear in a Frightened America.
By Frank Nuessle. VOTE FOR NOBODY. NOBODY TELLS THE TRUTH Willful ignorance
is a phenomenon that has been growing year by year and has reached a level
where it is a serious threat to our national well being and that of the world
at large
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GLOBAL RESEARCH
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The
‘Inclusive Iraq’ Scheme: The Proper Solution for Saving Iraq and the Region By The Association of
Muslim Scholars in Iraq
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NEWS IN SPANISH
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Guatemala.
No basta con la renuncia de Pérez Molina.
Ángel Guerra Cabrera
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Spain. Barcelona, 10 y 11
de octubre. Convocan Encuentro Internacional ’Salir del
euro y recuperar la soberanía’
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Mundo.
Exxon Mobil y la geopolítica petrolera
imperialista. Adrián Figueroa León
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El sesgo conservador y neoliberal de los medios
de comunicación. Vicenç Navarro
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PRESS TV
Xi
seeks China’s greatness, targets US Fri Aug 28, 2015 Republican
presidential candidate Marco Rubio says Xi Jinping is trying to re-establish
China’s greatness by undermining US interests.
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'US
must end dependence on China'. Fri Aug 28, 2015 The United States must
decrease its economic dependence on China in order to contain Beijing, an
analyst says.
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Greece
sets snap vote for September 20. Fri Aug 28, 2015 The Greek president sets
September 20 as the date for snap elections in the country.
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