Posts Tagged ‘change’

The Simulacra of Change, the Propaganda of Hope

The Simulacra of Change, the Propaganda of Hope

Courtesy of Charles Hugh Smith Of Two Minds

The Obama Administration’s campaign of providing simulacra of change is failing; the propaganda of hope is no substitute for true reform. 

The Obama Administration has about six weeks to completely renounce its simulacra of reform in the nation’s finances, healthcare and military affairs, or it is doomed to repudiation and defeat in the November 2010 elections.

Last year I speculated that perhaps the Obama adminstration’s revolting submission to the whims and wishes of the Wall Street/Banking cartel was a clever plan to give the thieves plenty of rope to hang themselves. (I was subsequently accused of "jumping the shark.")

Now that a full year has passed, it is clear that bit of speculation was merely a feeble flare of my own "audacity of hope." This administration’s track record is entirely sordid: total obedience to the Wall Street/banking sector and a handful of other special interests (public employee unions, the sickcare cartels, the circling falcons of Empire who no longer hear the falconer, etc.)

Meanwhile, the propaganda machine is churning out claims that the administration "rescued the economy from the abyss" when in fact the only group rescued was the Elite who stood to lose billions when their sandcastle of overleveraged risk collapsed under its own weight of lies, chicanery, embezzlement and systemic fraud.

Now the administration’s propaganda machine is declaring victory over spiraling healthcare costs-- by adding another trillion dollars to the nation’s bloated, failed sickcare system’s already out-of-control costs.

Take a look at this chart and tell me the ship has been righted:

Does any part of this 2,000-page "reform" address the nation’s failing health, or that we spend twice as much per capita as other developed democracies (Australia, Japan, Sweden, Germany, et al.) on "healthcare" which fails miserably to improve our collective health?

No, it does not. The "reform" is entirely a simulacum of reform which leaves the sickcare cartels firmly in place. What makes it truly a travesty of a mockery of a sham is that this "reform" does not even raise the issues of fundamental reform: for instance, the fee-for-service model I address in Is Fee-for-Service What Ails America’s Health Care System?.

Keep this is mind: Medicare/Medicaid and/or the Federal budget will start imploding by 2013. Just borrowing another few trillion isn’t…
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China Requests Debate on Reserve Currency at G14 Summit

China Requests Debate on Reserve Currency at G14 Summit

Le Café AméricainCourtesy of Jesse’s Café Américain

China is proposing a new reserve currency regime less dependent on the dollar, along with other BRIC countries, and the US and its financial allies in the status quo will resist change because it is in their short term interest to do so.

China can take ‘pre-emptive’ action by diversifying its holdings ahead of any change, and there are some indications that it is doing so already. But while the dollar is the prime medium of international trade, China must buy dollars to support its mercantilist industrial policy. Its own alternative is to boost its domestic consumption and ‘grow a middle class’ which in some minds erodes the power of the narrow political elite which rules the country.

The US needs to stand firm in some areas, and acquiesce in others. Standing firm with regard to the yuan being free of a peg and currency controls is one area that ought to have been sine qua non when first Clinton and then Bush gave China its openings as a preferred trading partner even while maintaining de facto industrial subsidies through its currency and markets.

The first line of negotiation will be to agree on a dollar substitute, which will probably be the SDR. The US will resist and delay this as long as is possible.

British EmpireThe fallback position then will be the composition of the SDR, and a long phasing of the change in the primacy of the dollar and a few G7 currencies. China will seek more diversity and the inclusion of gold and silver, which is anathema to the Wall Street banking cartel.

The US must change or face more seismic, involuntary dislocations. As Britain surrendered its far flung colonial Empire, so the US must downsize its financial sector, restore balance to its own economy and its place in the world economy, and relinquish the primary reserve currency status which has become a powerful instrument of manipulation by the Wall Street banking cartel.

The dollar is the last, the mother of bubbles. Few understand this even now.

The epic US credit expansion was enabled by the preferred position of US debt instruments as the reserve currency of the world. The bond and the dollar are the absolute foundation of that debt pyramid.

Those days are undeniably over.


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Phil's Favorites

Why Everyone is Selling Their Tech Stocks

 

Why Everyone is Selling Their Tech Stocks

Courtesy of The Reformed Broker

5:30pm ET LIVE premiere today – Subscribe for the alert!

Join Downtown Josh Brown and Michael Batnick for another round of What Are Your Thoughts? On this week’s episode, Josh and Michael discuss the biggest topics in investing and finance, including:

  • Tech Selloff – “To call this earnings season a blowout would be an understatement.”
  • Business Media – The WS...


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Zero Hedge

WTI Dips After Big Surprise Build In Gasoline Inventory

Courtesy of ZeroHedge View original post here.

Amid all the chaos in equity markets, oil managed to bounce back to modest gains on the day with WTI as a weaker dollar offset some concerns of a growing pile up of crude in the U.S. Gulf Coast as refineries there cut runs in response to the Colonial Pipeline shutdown.

Traders are expecting “a gradual resolution to the Colonial Pipeline shutdown,” according to Louise Dickson, an analyst at consultant Rystad Energy.

“The market is again looking to Asia, Covid-19 cases, and the next signals for oil demand outlook.&r...



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Chart School

RTT browsing latest..

Courtesy of Read the Ticker

Please review a collection of WWW browsing results. The information here is delayed by a few months, members get the most recent content.



Date Found: Sunday, 22 November 2020, 05:47:49 PM

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Comment: Bitcoin ambitions ...



Date Found: Sunday, 22 November 2020, 05:48:34 PM

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Comment: PMI juiced back up ...



Date Found: Sunday, 22 November 2020, 05:49:42 PM
...

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Digital Currencies

China's digital currency could be the future of money - but does it threaten global stability?

 

China’s digital currency could be the future of money – but does it threaten global stability?

The Ys and wherefores. AnaKins27

Courtesy of Daniel Broby, University of Strathclyde

China is making promising progress with testing its digital yuan currency. It has announced the success of a pilot in Suzhou City, near Shanghai in eastern China, where 181,000 consumers were given ¥55 (&poun...



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Biotech/COVID-19

US support for waiving COVID-19 vaccine patent rights puts pressure on drugmakers - but what would a waiver actually look like?

 

US support for waiving COVID-19 vaccine patent rights puts pressure on drugmakers – but what would a waiver actually look like?

A COVID-19 surge has pushed hospitals in India beyond their capacity. A stadium in New Delhi was being used as a makeshift ward on May 2, 2021. Getty Images

Courtesy of Dalindyebo Shabalala, University of Dayton

The U.S. and Europe are debating waiving patent rights for COVID-19 vaccines, a move that could allow more companies to produce the vaccine around the world. But it’s not as simpl...



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Politics

If China's middle class continues to thrive and grow, what will it mean for the rest of the world?

 

If China's middle class continues to thrive and grow, what will it mean for the rest of the world?

Over the past few decades, hundreds of millions of Chinese citizens have become part of the middle class. AP Photo/Ng Han Guan

Courtesy of Amitrajeet A. Batabyal, Rochester Institute of Technology

China’s large and impressive accomplishments over the past four decades have spurred scholars and politicians to debate whether the decline of the West – including the ...



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ValueWalk

Managing Investments As A Charity Or Nonprofit

By Anna Peel. Originally published at ValueWalk.

Maintaining financial viability is a constant challenge for charities and nonprofit organizations.

Q4 2020 hedge fund letters, conferences and more

The past year has underscored that challenge. The pandemic has not just affected investment returns – it’s also had serious implications for charitable activities and the ability to fundraise. For some organizations, it’s even raised doubts about whether they can continue to operate.

Finding ways to generate long-term, sustainable returns for ...



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Kimble Charting Solutions

Will Historic Selloff In Treasury Bonds Turn Into Opportunity?

Courtesy of Chris Kimble

Long-dated treasury bonds have been crushed over the past year, sending ETFs like TLT (20+ Year US Treasury Bond ETF) spiraling over 20%.

Improving economy? Inflation concerns? Perhaps a combination of both… interest rates have risen sharply and thus bond prices have fallen in historic fashion.

Today’s chart looks at $TLT over the past 20 years. As you can see, the recent decline has truly been historic. $TLT’s price has swung from historically overbought highs to oversold lows.

At present, the long-dated bond ETF ($TLT) is trading 7.8% below its 200-...



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Mapping The Market

Suez Canal: Critical Waterway Comes to a Halt

 

Suez Canal: Critical Waterway Comes to a Halt

Courtesy of Marcus Lu, Visual Capitalist

The Suez Canal: A Critical Waterway Comes to a Halt

On March 23, 2021, a massive ship named Ever Given became lodged in the Suez Canal, completely blocking traffic in both directions. According to the Suez Canal Authority, the 1,312 foot long (400 m) container ship ran aground during a sandstorm that caused low visibility, impacting the ship’s navigation. The vessel is owned by Taiwanese shipping firm, Evergreen Marine.

With over 2...



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Promotions

Phil's Stock World's Weekly Webinar - March 10, 2021

Don't miss our latest weekly webinar! 

Join us at PSW for LIVE Webinars every Wednesday afternoon at 1:00 PM EST.

Phil's Stock World's Weekly Webinar – March 10, 2021

 

Major Topics:

00:00:01 - EIA Petroleum Status Report
00:04:42 - Crude Oil WTI
00:12:52 - COVID-19 Update
00:22:08 - Bonds and Borrowed Funds | S&P 500
00:45:28 - COVID-19 Vaccination
00:48:32 - Trading Techniques
00:50:34 - PBR
00:50:43 - LYG
00:50:48 - More Trading Techniques
00:52:59 - Chinese Hacks Microsoft's E...



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The Technical Traders

Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

Courtesy of Technical Traders

Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels.  This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.

This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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