ND
JUN 16 19 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
Every party
eventually comes to an end. All that is needed is a spark, and that may come when
the DOJ finally throws the book at the FAANGs.
To be sure, regulatory concerns facing tech stocks are
hardly new. Back
in April 2018, Bank of America laid out "10 reasons why global
investors should reduce tech allocations in 2018", pointing out something
stunning - technology is the most
lightly regulated sector: just 27K
regulations (Chart 7) for tech; by comparison manufacturing regulated by 215K
rules, financial sector by 128K.
See Chart:
US FED regulations by Sector
In short: if and when regulatory
intervention finally picks up, tech could easily go from first to worst,
because as Bank of America showed a year ago, virtually every industry bubble
was popped by regulation:
See Chart:
Equity Bubles propped by regulations
Meanwhile, within Tech, Software stocks trade with a
particularly large valuation premium; in fact one has to go all the way back to
the (first) tech bubble to find greater investor euphoria as the median Software stock currently
trades at 6x EV/Sales, nearly the highest multiple since the peak of the Tech
Bubble, versus 2x for the Russell 3000 median.
See Chart:
Software stock valuations stand near
the highest levels since 2000
See more charts at:
….
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"it is
precisely because market prices still retain some reflection of reality that
our policy makers and politicians work so desperately to manipulate them."
Free Markets
Not a single person in power wants truly free markets. Central banks were established specifically to
tame them. Sweden was first, in 1668. There’s nothing they won’t do to deny the
reign of free markets. In 1992 the Riksbank hiked overnight interest rates to
500%. Today the Swedes have set rates at -0.25%. They’re not alone. Japan’s
central bank owns over 100% of GDP in Japanese debt. But the ultimate example of market
manipulation is the simple fact that $12trln worth of bonds now trade at negative
interest rates.
See Chart:
Global
Negative Yielding Debt
Telling Tales
US bond yields peaked in Nov as markets expected additional
upward rate manipulations by the Fed. Markets forced them to reconsider. Yields
repriced violently. And now for some odd reason, investors once again seem to
care what the Fed Chairman thinks and says. Anyhow, the forces at play are not
isolated to the US. Markets are global.
And the
only market that tells a slightly different tale is China where 2yrs were 2.79%
(now 2.79%), and 10yrs were 3.54% (now 3.25%).
….
SOURCE: https://www.zerohedge.com/news/2019-06-16/hedge-fund-cio-i-dont-think-public-aware-whats-coming
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...while the world no longer needs to worry
about a hawkish US Federal Reserve strangling growth, it now has an even
bigger problem on its hands.
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"You spend a week on the land and then it
rains three days and a week later you’re doing it all over again.Just tired of
dealing with the mud this year..."
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In the
US, "bad-data-but-easier-policy" periods saw the S&P 500 post above-average
returns only 38% of the time – a win rate that, if it were for a
baseball team, would put it near the bottom of the current major league
standings.
The S&P 500 jumped 1.1%, capping its best four-day run
all year, credit spreads tightened,and bond prices rose. A distinct line of reasoning drove
these moves – the idea that “bad is now good”, and that worse economic data
make it more likely that the Federal Reserve will reduce interest rates. How much more likely? Bond markets now expect the Fed to cut
rates by 86bp over the next 12 months.
We strongly disagree with this “bad is good” logic. The expectation that easing central
bank policy can offset weaker data is at odds with both a broad swath of
historical data and basic monetary theory. But since many in the market disagree, this feels like a
good time to restate our case.
The first thing to note is that markets have faced a
backdrop of weakening economic data and lower or easier central bank policy on
quite a few occasions. That’s no coincidence. Central banks usually cut
interest rates when economic data are weakening, attempting to provide an
offset.Therefore, the
question of how often "bad is good" is testable.
What would
qualify as good news and make us more positive? That’s easy – BETTER DATA.
….
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"If you’re expecting a
sleepy summer in markets let me disavow you of that notion. How
these 3 events play will have a massive impact on prices, either to the upside
or the downside..."
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This trend has been building almost 100 years,
and the curve is starting to go parabolic. To use a fashionable word, it’s “unsustainable” for
everyone to try living at the expense of everyone else...
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The speculative asset
chase over the last decade, which is a direct result of Central
Bank activity, has locked investors into a period of near zero prospective total returns in
virtually in every asset class for the coming decade...
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US
DOMESTIC POLITICS
Seudo democ duopolico in US is obsolete; it’s full of frauds
& corruption. Urge cambio
"The
tension in the Gulf was generated when Trump decided to pull out of the nuclear
deal. Let him pay the price now."
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Following the attacks on the oil tankers in the Gulf of Oman this
week the basic question that comes
to mind is, Cui bono? Who benefits? ...none of the men on
the B-Team profit from peace in
the Middle East with respect to Iran.
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Speaking on
the eve of the Paris airshow, Boeing CEO, Dennis Muilenburg, admitted to
reporters that the company made a
"mistake" in handling a problematic cockpit warning system in its 737
Max jetsbefore the two crashes...
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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
Nuestras
agencias para la DEMOC están hacienda buen trabajo en China. If they
die?
Anybody who thought the marches would end with the withdrawal of the
extradition bill was too optimistic.
…
Si los liquidan no mueren muchos Chinos.. mere ‘accidente’ in geo-politics
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Google cuts Huawei off Android; so Huawei may migrate to Aurora. Call it mobile Eurasia
integration; the evolving Russia-China strategic partnership may be on the
verge of spawning its own operating
system – and that is not a metaphor.
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Russian
embassy says it's "an act
of media warfare"
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The most recent statement, as with the previous one, came with no evidence that any such
testing ever took place...
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Whom the gods would destroy, Friedrich Nietzsche famously
said, they first make mad. What
would Nietzsche make of the current, truly mad US and NATO obsession with charging into the Black Sea?
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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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NOTICIAS IN SPANISH
Lat Am search f alternatives to neo-fascist regimes &
terrorist imperial chaos
VIENTO SUR
VEN:
Quién dirige Venezuela? ¿Casta o boliburguesía? P Guillaudat
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RT EN
ESPAÑOL
- Macri, sobre el apagón: "Se trata de un caso inédito, que será investigado a fondo"
- Trump carga contra The New York Times por publicar que EE.UU. aumentó ciberataques contra red eléctrica rusa
- "Por supuesto": Pompeo admite que la vía militar figura entre las opciones para contrarrestar a Irán
- Boeing reconoce su "error" relacionado con dos catástrofes aéreas
- Un apagón masivo deja a Argentina y Uruguay sin luz
- CNN: Washington se planea aumentar su contingente militar en Oriente Medio tras los ataques a los petroleros
- Mando Central de EE.UU.: Un misil iraní trató de derribar un dron de EE.UU. en el golfo de Omán
- Enviados de Guaidó opacados por la corrupción: revela reporte periodístico que alertó a Almagro
- Fijan la fecha de la audiencia sobre la extradición de Assange
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GLOBAL RESEARCH
Geopolitics & Econ-Pol crisis that leads to more
business-wars from US-NATO allies
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PRESS TV
Resume of Global News described
by Iranian observers..
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