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AGelbert

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The Corporate Debt Bubble Is A Train Wreck In Slow Motion

By Brandon Smith, Alt-Market.com

There are two subjects that the mainstream media seems specifically determined to avoid discussing these days when it comes to the economy - the first is the problem of falling global demand for goods and services; they absolutely refuse to acknowledge the fact that demand is going stagnant and will conjure all kinds of rationalizations to distract from the issue. The other subject is the debt bubble, the corporate debt bubble in particular.

Full article 🦉

He that loveth father or mother more than me is not worthy of me: and he that loveth son or daughter more than me is not worthy of me. Matt 10:37

AGelbert

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Military Spending and Debt
« Reply #721 on: January 28, 2020, 12:55:13 pm »
Economic Update: Military Spending and Debt
Partner Content Provided By:Economic Update with Richard Wolff
January 28, 2020


Updates on France's successful mass uprisings (Yellow Vests in 2019; mass union strikes in 2020) that forced the French government to back down on changes workers opposed; how endless wars impose huge debts; how the Catholic Church uses U.S. bankruptcy law to prevent the church's assets from being used to compensate victims of sexual assault; Prof. Wolff interviews journalist Bob Hennelly on military spending and debts in the US economy.

"The views expressed in third party content do not necessarily reflect those of The Real News Network or its editors."
https://therealnews.com/third_party_content/economic-update-military-spending-and-debt

He that loveth father or mother more than me is not worthy of me: and he that loveth son or daughter more than me is not worthy of me. Matt 10:37

AGelbert

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Re: Money
« Reply #722 on: February 05, 2020, 04:45:08 pm »





Agelbert NOTE: Stock Market CR ACK UP BOOM (i.e. peak blow off) in Progress. Fasten your seat belt. The slope down will be steeper than the slope up...

Sell now (YOU have been warned). Have a nice day.

He that loveth father or mother more than me is not worthy of me: and he that loveth son or daughter more than me is not worthy of me. Matt 10:37

AGelbert

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By Mike Whitney, Informationclearinghouse.info

February 5, 2020 | EDUCATE!

SNIPPET:

The Fed has no intention of allowing the public to know what’s really going on behind the scenes. Remember, the Fed “battled in court for more than two years to keep the details of its loans a secret from Congress and the American people”, so they’re certainly not going to do an about-face and open up today. No, what they are going to do is push the envelope as far as they can, operate far beyond their legal mandate, and conceal their inappropriate or illegal activity behind an iron wall of obfuscation and denial. Keep in mind, no one knew the extent of the Fed’s lavish handouts until years after the dust had settled. Check it out:

“When the nonpartisan investigative arm of Congress, the General Accountability Office (GAO), tallied up the cumulative total that the Federal Reserve had secretly sluiced to Wall Street from December 2007 through July 21, 2010, it came to $16.1 trillion. But the GAO did not include all of the programs that came out of the New York Fed. When those other programs are added, the Levy Economics Institute, using the Fed’s own data, arrived at the tally of $19.559 trillion to the Wall Street trading houses and another $10 trillion in central bank liquidity swaps, bringing the bailout figure   to over $29 trillion.” (“Fed Repos Have Plowed $6.6 Trillion to Wall Street in Four Months”, Wall Street on Parade)

So “over $29 trillion” was shoveled into the banking system without congressional approval and without the American people having any idea of how they were being finagled. We should probably expect the same underhanded goings on in the current crisis, in fact, that looks to be the case. The Fed is not going to acknowledge what it is doing and the media is not going to publish the details. It’s a conspiracy of silence.

Full article:

He that loveth father or mother more than me is not worthy of me: and he that loveth son or daughter more than me is not worthy of me. Matt 10:37

AGelbert

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Economic Update: Exposing Economic Myths
« Reply #724 on: February 06, 2020, 09:42:59 pm »
Economic Update: Exposing Economic Myths
38,073 views•Feb 3, 2020


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[S10 E05] Exposing Economic Myths

**We make it a point to provide the show free of ads. Please consider supporting our work. Become an EU patron on Patreon: https://www.patreon.com/economicupdate

This week on Economic Update, Professor Wolff discusses how the "unemployment rate" is an inadequate measure of the U.S. economy’s well-being along with the decline of the “real” value of the minimum wage in the U.S., the multiple failures and flaws of markets and how corporations as less economically efficient than worker co-ops.
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He that loveth father or mother more than me is not worthy of me: and he that loveth son or daughter more than me is not worthy of me. Matt 10:37

AGelbert

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🐱 Truth in Quotes (plus good snark too!):
« Reply #725 on: February 10, 2020, 02:57:16 pm »
Truth in Quotes (plus good snark too!):

Quote
Quivering Lip
Imagine if all Governments didn't lie. Pandemonium in the streets.

When things get serious you have to lie!

JC Junker.

The greatest eCONomy the universe has ever seen and all we get is 2% GDP growth. Strip out the $1.1 Trillion deficit and GDP is contracting. Just don't tell the morons it isn't all great.

Herdee
Ya, greatest ever? The participation rate on the numbers are still below the great recession numbers. Here is the M2 Money Velocity number that shows you basically how fast a dollar changes hands in today's economy. And yes, the constant stream of propaganda is at deafening levels and especially by the Whitehouse and the morons on CNBC and Bloomberg. Does it look busy to you?


Quote
Bob_sacamano
I knew that M2V started rolling over last Spring but did not know it has gotten that bad.

Jtrillion
There's a Central Bank for that.

Cautiously Pessimistic
The new Apple limited run 'Wuhan Edition' phone will be a hot seller this year.  To die for!

SOURCE:


February 10, 2020

Authored by Peter Tchir via Academy Securities

He that loveth father or mother more than me is not worthy of me: and he that loveth son or daughter more than me is not worthy of me. Matt 10:37

Surly1

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Re: 🐱 Truth in Quotes (plus good snark too!):
« Reply #726 on: February 11, 2020, 07:01:34 am »

Quote
Quivering Lip
Imagine if all Governments didn't lie. Pandemonium in the streets.

When things get serious you have to lie!

JC Junker.

The greatest eCONomy the universe has ever seen and all we get is 2% GDP growth. Strip out the $1.1 Trillion deficit and GDP is contracting. Just don't tell the morons it isn't all great.

Herdee
Ya, greatest ever? The participation rate on the numbers are still below the great recession numbers. Here is the M2 Money Velocity number that shows you basically how fast a dollar changes hands in today's economy. And yes, the constant stream of propaganda is at deafening levels and especially by the Whitehouse and the morons on CNBC and Bloomberg. Does it look busy to you?


Quote
Bob_sacamano
I knew that M2V started rolling over last Spring but did not know it has gotten that bad.

Jtrillion
There's a Central Bank for that.

Cautiously Pessimistic
The new Apple limited run 'Wuhan Edition' phone will be a hot seller this year.  To die for!

SOURCE:


February 10, 2020

Authored by Peter Tchir via Academy Securities


Just seeing this. Pretty amazing.

AGelbert

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Economic Update: 💵🎩 Capitalism's Uneven Development
16,734 views•Feb 10, 2020


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[S10 E06] Capitalism's Uneven Development

**We make it a point to provide the show free of ads. Please consider supporting our work. Become an EU patron on Patreon: https://www.patreon.com/economicupdate

This week’s episode of Economic Update features an introductory discussion by Professor Wolff on capitalism's systematically uneven economic development. From Marx's original criticism of capitalism for producing and reproducing unevenness to the many historical examples, Prof. Wolff argues that there are indeed heavy social costs which flow from capitalism's uneven development. Those costs then become bases for arguing the need to move beyond capitalism.
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Category News & Politics
He that loveth father or mother more than me is not worthy of me: and he that loveth son or daughter more than me is not worthy of me. Matt 10:37

AGelbert

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Economic Update: Socialism and Left 💐 Unity
in the U.S.
8,066 views•Feb 18, 2020


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[S10 E07] Socialism and Left Unity in the U.S.

**We make it a point to provide the show free of ads. Please consider supporting our work. Become an EU patron on Patreon: https://www.patreon.com/economicupdate

THIS WEEK'S TOPICS (w/timestamps):
00:42 - Updates on Trump's 2019 $1 trillion plus deficit
04:26 - the burden of debt on poor countries;
06:57 - Amsterdam’s forgiveness of the debts of young people;
09:08 - the fund-raising strategies of "strong man" governments;
10:49 - and the gross failures of the GOP’s/Trump’s 2017 tax cut;
14:03 - announcements;
15:27 - SPECIAL GUEST: Prof. Wolff interviews Rob Robinson of the Left Forum and Karen Ranucci of the Center for Critical Thought on their collaboration to serve the rising interest in socialism in the U.S. and how it is helping to build a movement for a transition away from capitalism as we know it.
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He that loveth father or mother more than me is not worthy of me: and he that loveth son or daughter more than me is not worthy of me. Matt 10:37

AGelbert

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Bring It On 🐍 Corporate Socialists!
« Reply #729 on: February 18, 2020, 06:27:18 pm »
“Democratic Socialism” – Bring It On 🐍 Corporate Socialists!
By 🦅 Ralph Nader

Crooked 🦀 Donald Trump, the erstwhile failed gambling czar and corporate welfare king, is assailing Bernie Sanders for his “radical socialism.” How ludicrous given Trump’s three-year giveaway of taxpayer assets and authorities to giant corporations – a perfect portrait of crony capitalism. Others are joining the 😈 socialist labeling bandwagon, including corporatist right wing radio talk show blowhards, themselves freeloaders, profitably using the public airwaves. -more-


He that loveth father or mother more than me is not worthy of me: and he that loveth son or daughter more than me is not worthy of me. Matt 10:37

AGelbert

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AskProfWolff: Work Relationships in Worker Co-ops
« Reply #730 on: February 22, 2020, 05:50:08 pm »
AskProfWolff: Work Relationships in Worker Co-ops
1,781 views•Feb 22, 2020


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Get your copy of Prof. Wolff's books with d@w: "Understanding Socialism" and "Understanding Marxism" https://www.democracyatwork.info/books

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We are committed to providing these videos to you free of ads. Please consider supporting us on Patreon.com. Become a part of the growing Patreon community and gain access to exclusive patron-only content, along with the ability to ask Prof. Wolff questions like this one!

A patron asks: "Dr Wolf, can you give examples of how work relationships are arranged in worker co-ops. One reason for hierarchies in capitalist enterprises is because of the knowledge, skills and experience gap between workers as well as specialized training. I had a capitalist owner who thought democracy couldn't work because he didn't want his custodian involved in decisions he didn't understand."

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Category Entertainment
He that loveth father or mother more than me is not worthy of me: and he that loveth son or daughter more than me is not worthy of me. Matt 10:37

AGelbert

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Dow DROPS over 1000 POINTS!
« Reply #731 on: February 24, 2020, 04:13:03 pm »

https://finviz.com/

Stocks Plummet Over Fear of Coronavirus 943 views•Streamed live 3 hours ago


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STOCKS PLUNGING OVER CORONAVIRUS: Stocks have dropped steeply around the globe as coronavirus fears grow. Infections are surging in South Korea, which has declared its highest emergency alert, and in Italy, which has locked down an area of 50,000 people near Milan. Stock markets across Asia and Europe were all down Monday. A main U.S. stock benchmark, the S&P 500, neared its biggest drop since August, and the Dow Jones Industrial Average fell so low it 'may erase its gains from the year,' Bloomberg News reported.

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He that loveth father or mother more than me is not worthy of me: and he that loveth son or daughter more than me is not worthy of me. Matt 10:37

AGelbert

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Stocks Plunge (or Dip?), Traders Confused: This Wasn’t Supposed to Happen. Complacency Exacts its Toll
by Wolf Richter • Feb 24, 2020 • 84 Comments

The coronavirus is just the latest in a long series of issues successfully brushed off as irrelevant because all that mattered was that stocks went up.

By Wolf Richter for WOLF STREET.

“Complacency” – brushing off big issues as irrelevant or nonexistent because they don’t fit into the buy-buy-buy scenario – has a way of serving up a surprise tab just when the party is hopping at its wildest.

Today, we’re seeing a little of it. Already on Friday, some fallout had hit stocks, following a mild down-day on Thursday. As of early afternoon today, over those three days, the S&P 500 index has dropped 4.8% and the Nasdaq 5.8%.

It’s as if it had suddenly dawned on the hyper-inflated stock market that it is in fact hyper-inflated, and that there are in fact big issues out there that had been known about for many weeks, and some of them for months or even years, but that had been successfully brushed off as irrelevant and had been successfully banished as nonexistent.

Nothing mattered because stocks kept surging higher. Despite the freight recession that spread across 2019 and is still getting worse, with shipments plunging at the fastest rate since 2009, and with railroads laying off people massively amid dropping revenues and plunging earnings, Union Pacific’s shares, upon the news, hit a new high. These issues predated the coronavirus.

The auto industry in the US has seen declining sales volume, as measured in number of vehicles delivered, since 2016. This is a huge industry. But no big deal. In the largest market in the US, in California, new-vehicle registrations have dropped 5.5% in 2019, bringing the drop since 2016 to 9.5%. Across the US, new vehicles sales have also fallen for the third year in a row, to below year 2000 levels.

Subprime delinquency rates have exploded in auto loans and credit card loans starting two years ago, and now subprime credit-card delinquency rates spiked to an all-time high, and subprime auto-loan delinquency rates spiked to the highest since the peak of the Financial Crisis.

These developments are not new; they just reached a new high. But the market decided that they didn’t matter, that nothing  🙈🙉🙊🐵 mattered.

The entire US shale-oil-and-gas sector has been getting crushed ;D again, but no problem. Manufacturing output has been declining for most of last year. But no problem.

Brick-and-mortar retail – particularly “mall stores” such as department stores – has been getting wiped out store by store, chain by chain, this time not by problems in the economy but by a structural shift in how Americans shop by switching to ecommerce, which is booming. Thousands of big stores are getting shuttered every year, with big chains, such as Sears Holdings, getting liquidated, along with innumerable smaller ones. But no problem.

Mall properties have declined in value, but not by much, and most mall REITs hung in there, as investors figured that this whole concept of the brick-and-mortar meltdown was overblown and that it would somehow go away.

Sector after sector has run into problems over the past few years, but it didn’t matter because stocks would just go up and up and up, and so who cares if these companies lose money forever, or burn cash forever or are outright doomed. So long as stocks go up….

Now comes the coronavirus outbreak. It’s just the latest issue. It’s a big issue for Corporate America, and it’s a horrible issue for China. This became clear in January. But US stock indices kept wobbling to new highs while the economic and business issues caused by the de-facto economic shutdown of much of China were just blown off as irrelevant because they didn’t matter as long as stocks go up.

Apple reached a new high in mid-February despite the clearer-than-daylight problems in China, with demand for iPhones in China collapsing, with Apple stores closed, with iPhone factories in China shut down. It just didn’t matter — until February 17, when Apple announced what everyone knew already, but had blissfully brushed off: That it had huge problems in China, and that both, demand for iPhones and its supply chain of iPhones in China had collapsed. Since the February 12 high, shares have dropped only 8.6%, including today’s 4.4% drop (as of early afternoon).

And then suddenly it matters at least a little bit, as complacency turns into confusion among stock jockeys. This wasn’t supposed to happen. Stocks were guaranteed to only rise. That was the deal. Nothing else mattered. And they’re frazzled. How come all this crap suddenly matters? How can Tesla’s ludicrously-priced stock suddenly drop 7.5% out of the blue?

The whole auto sector is getting crushed – component makers and automaker. Here are some samples, as of miday: GM (-5%), Ford  (-3.6%), Honda (-3.9%), Toyota (-3.4%), Delphi Technologies, the former component maker of GM (-3.9%), Visteon, former component maker of Ford (-6.5%), American Axle (-5.8%), Lear Corp (-5.3%), Veoneer, maker of automotive safety and electronic components (-7.4%), Adient, maker of seating and other automotive components (-4.8%), Cooper-Standard Holdings (-3.1%), Modine (-5.5%)….

Auto sales in China, the world’s largest market, have come to a near-standstill due to the coronavirus, after having already plunged 13% in 2018 and 2019 combined. GM sells more vehicles in China than in the US. China is also the manufacturing hub for components used by assembly plants globally. And those components are not being manufactured because the factories have been shut down. This has been known since January.

But it didn’t matter because nothing mattered because stocks always go up. Until they don’t. The sudden turnaround of the stock market is confusing our coddled traders. How could this happen? Didn’t the Fed guarantee that stocks would never fall?

Then there’s QE-4, that $400 billion in liquidity that the Fed threw at the market between mid-September and the end of December. The market kept hyping the certainty that it would last forever. But it suddenly stopped at the end of December. And the Fed’s balance sheet has been essentially flat since then, turning from Big-Fat QE into No-QE:


And that shift from Big-Fat QE to No-QE too has been known since January 1 because the Fed posts these numbers daily and weekly, and I report on it regularly, but the market just brushed them off, preferring to believe the misbegotten stories in the financial media about endless trillions of dollars still being created in repo liquidity.

So here we are. The drop in the market is still just a dip in the overall scheme of things. But the evil smell of reality has caused the market to puke today. That doesn’t mean that a new bout of complacency won’t set in. It’s always surprising to rational observers how long and to what ludicrous extent this complacency can be driven.

https://wolfstreet.com/2020/02/24/stocks-plunge-traders-confused-this-wasnt-supposed-to-happen-complacency-exacts-its-toll/
He that loveth father or mother more than me is not worthy of me: and he that loveth son or daughter more than me is not worthy of me. Matt 10:37

AGelbert

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Economic Update: Larger Social Changes to Support Worker Co-Ops
8,865 views•Feb 24, 2020


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[S10 E08] Larger Social Changes to Support Worker Co-Ops

**We make it a point to provide the show free of ads. Please consider supporting our work. Become an EU patron on Patreon: https://www.patreon.com/economicupdate

This week on Economic Update, Professor Wolff responds to a criticism aimed at how d@w focuses too much on the transition from capitalist firms to worker co-op firms with too little attention paid to the larger social changes needed to move towards a worker-owned economy and thusly, beyond capitalism. Professor Wolf answers this criticism by discussing the broader social changes necessary to sustain a worker co-op based economy including the economic tools our government could use to sustain an economy-wide sharing of profits and resources as deemed necessary by the people participating in, working and creating in, the industries they as employees could and would control.
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Category News & Politics
He that loveth father or mother more than me is not worthy of me: and he that loveth son or daughter more than me is not worthy of me. Matt 10:37

AGelbert

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Tue, 02/25/2020 - 16:01

SNIPPET:

WHO, CDC, and HSS all dropped the honesty hammer today:

WHO SAYS REST OF WORLD IS NOT YET READY FOR VIRUS SPREAD

CDC OFFICIAL SAYS CORONAVIRUS PANDEMIC IS LIKELY

AZAR SAYS U.S. MAY NEED UP TO 300M MASKS FOR HEALTHCARE WORKERS

And just like that 'complacency' gone...
From "Extreme Greed" to "Extreme Fear" in a week...👀







He that loveth father or mother more than me is not worthy of me: and he that loveth son or daughter more than me is not worthy of me. Matt 10:37

 

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