La caída del dólar

[Currobena]

http://youtu.be/ik1y4ZNSjek
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Transcripción en inglés:

Inequality is real, it’s personal, it’s expensive and it was created. Today, 1% of Americans are taking home nearly 20% of the country’s total income and own nearly 35% of the country’s wealth. This didn’t happen by accident. As former Secretary of Labor Robert Reich explains, we allowed it to happen.
We can’t have a prosperous economy without a strong and prosperous middle class. Inequality can be fixed. So, let’s fix it.
inequality.is, a new interactive site from the Economic Policy Institute, explains the causes of and solutions to income inequality.
————————————-
The recent past has seen greater economic inequality in America than at any time since the Great Depression.
In the three decades after World War II American incomes grew quickly and equally, but starting in the late 1970s things began to change.
Today, 1% of Americans are taking home nearly 20 percent of the country’s total income, and own more than 35% of America’s wealth.
And it didn’t happen by accident. It’s the result of policy decisions on taxes, education, trade, labor, macroeconomics, and financial regulation — all of which shifted economic power away from low and moderate-income American families.
Economic inequality is real, it’s personal, it’s expensive. And it was created.
Since the 1960s, tax rates on very high incomes have been slashed dramatically, starving public investments in schools and roads and everything else needed to build our economy, and providing ever-greater incentives to rig the economy’s rules to send more money to the top
The laws we’ve created to govern globalization have protected corporate interests, but done nothing for American workers.
Instead, we’ve allowed worker’s rights to be systematically dismantled, both here and abroad.
Policymakers also began using high unemployment — which hurts everybody, but especially low and middle-wage workers — to protect the wealthy from any hint of inflation.
And, then, corporate interests pushed to abandon safeguards preventing the financial sector from making risky bets, which had to be backstopped by American taxpayers when those bets went sour — a protection not given America’s underwater homeowners.
All of this created the worst economic crisis since the 1930s — and we did it by allowing those with the most economic power to set the rules of our economy.
It’s continuing today. By the end of 2012, American workers’ share of the economic pie was the lowest in more than half a century while the share going to corporate profits was the highest on record.
This isn’t sustainable. We can’t have a prosperous economy without a large and growing middle-class.
None of this happened by accident. We allowed it to happen.
But it can be fixed. So let¹s fix it.

http://inequality.is/

[pollo]

http://youtu.be/ik1y4ZNSjek

Transcripción en inglés:

Inequality is real, it’s personal, it’s expensive and it was created. Today, 1% of Americans are taking home nearly 20% of the country’s total income and own nearly 35% of the country’s wealth. This didn’t happen by accident. As former Secretary of Labor Robert Reich explains, we allowed it to happen.
We can’t have a prosperous economy without a strong and prosperous middle class. Inequality can be fixed. So, let’s fix it.
inequality.is, a new interactive site from the Economic Policy Institute, explains the causes of and solutions to income inequality.
————————————-
The recent past has seen greater economic inequality in America than at any time since the Great Depression.
In the three decades after World War II American incomes grew quickly and equally, but starting in the late 1970s things began to change.
Today, 1% of Americans are taking home nearly 20 percent of the country’s total income, and own more than 35% of America’s wealth.
And it didn’t happen by accident. It’s the result of policy decisions on taxes, education, trade, labor, macroeconomics, and financial regulation — all of which shifted economic power away from low and moderate-income American families.
Economic inequality is real, it’s personal, it’s expensive. And it was created.
Since the 1960s, tax rates on very high incomes have been slashed dramatically, starving public investments in schools and roads and everything else needed to build our economy, and providing ever-greater incentives to rig the economy’s rules to send more money to the top
The laws we’ve created to govern globalization have protected corporate interests, but done nothing for American workers.
Instead, we’ve allowed worker’s rights to be systematically dismantled, both here and abroad.
Policymakers also began using high unemployment — which hurts everybody, but especially low and middle-wage workers — to protect the wealthy from any hint of inflation.
And, then, corporate interests pushed to abandon safeguards preventing the financial sector from making risky bets, which had to be backstopped by American taxpayers when those bets went sour — a protection not given America’s underwater homeowners.
All of this created the worst economic crisis since the 1930s — and we did it by allowing those with the most economic power to set the rules of our economy.
It’s continuing today. By the end of 2012, American workers’ share of the economic pie was the lowest in more than half a century while the share going to corporate profits was the highest on record.
This isn’t sustainable. We can’t have a prosperous economy without a large and growing middle-class.
None of this happened by accident. We allowed it to happen.
But it can be fixed. So let¹s fix it.

http://inequality.is/

Que pena que las gafas ideológicas no les permitan darse cuenta que lo único que les mantenía con esa clase media y con "el sueño americano" era la presencia del demonio comunista al otro lado del telón de acero. Ahora toca capitalismo, del de verdad, de ese que dicen algunos que no es capitalismo, porque el verdadero es una vaca esférica perfecta y sin rozamiento.

[Lego]

Bueno, tras unos meses que si sí, que si no, ya es oficial; Detroit se ha declarado en quiebra.

Media docena de posts sobre el asunto en ZH. Traigo uno de ellos
http://www.zerohedge.com/news/2013-07-18/when-60-years-lies-clash-reality-michigan-governor-snyder-authorizes-detroits-bankru

Tyler Durden: "América resumida: Mientras Detroit oficializa la quiebra, la bolsa (S&P) en máximos históricos ".

Todo es mentira 

[Starkiller]

Hablaban, desde hace años, que el Armageddon va a llegar de mano de los "Munis" (Municipal Bonds). Veamos que pasa ahora con eso...

[tomasjos]

La verdad es que están tardando en derrumbarse más de lo que pensaba. A estas alturas yo ya esperaba que el dolar estuviera en caída libre, con las petromonarquías pasándose al euro mes tras mes, y tensiones secesionistas serías en los USA -con declaraciones de generales, gobernadores y tertulianos entonando a coro "USA no es la URSS"-.

[pollo]

La verdad es que están tardando en derrumbarse más de lo que pensaba. A estas alturas yo ya esperaba que el dolar estuviera en caída libre, con las petromonarquías pasándose al euro mes tras mes, y tensiones secesionistas serías en los USA -con declaraciones de generales, gobernadores y tertulianos entonando a coro "USA no es la URSS"-.

Lo difícil no es saber lo que va a pasar cuando es obvio. Lo difícil es acertar en "cuándo" va a pasar. Además ya tenemos experiencia en esto.

[dmar]

Wanted: A Boring Leader for the Fed

http://mobile.nytimes.com/2013/08/21/opinion/wanted-a-boring-leader-for-the-fed.html?hp=&_r=0&

What all sides seem to misunderstand, however, is the proper nature of the central bank’s role in the economy. Instead of casting about for a new maestro, we need to return the Fed to dullness and its chairman to obscurity.

The Fed has become anything but boring. Under Mr. Bernanke and his predecessor, Alan Greenspan, it didn’t foresee the housing bubble, much less try to pop it. Even if the Fed could identify bubbles, Mr. Bernanke once said, “monetary policy is too blunt a tool for effective use against them.”

Yet for more than four years, the Fed has used this blunt instrument on an unprecedented scale. It is currently buying $85 billion in Treasury securities every month, the third round of a strategy, known as quantitative easing, that aims to stimulate the economy by keeping interest rates low.

The Fed’s chairmen in recent decades have been eminently qualified individuals of undisputed probity. But they are humans, too, whose blind spots, egos and potential conflicts of interest — Mr. Greenspan has had a lucrative post-Fed career giving speeches and advice — raise real concerns about hubris, even bias. The solution is not to subject the Fed to the whims of a dysfunctional Congress but rather to scale back what we can expect of it.

Where the Fed must be held more accountable is for its oversight of banks. It is banks, not the government, that effectively create most of the money we use, by extending credit where it is most needed. As we’ve painfully learned, banks can over-lend and even set off an economic collapse.

[Lego]

Más sobre lo mismo.
http://www.ibtimes.co.uk/articles/513431/20131013/china-debt-ceiling-shutdown-xinhua-de-emericanised.htm

Es significativo que diga estas cosas una agencia oficial de noticias. Hasta ahora sólo lo planteaban abiertamente  webs tipo infowars o comentaristas outsider como Max Keiser en RT.    Si acaso los del GEAB, que tampoco son precisamente mainstream.   

Avanza deprisa el meme.  Todo parece irreal hasta que te lo encuentras en la portada de El Pis y el Inmundo.  Habrá grandes declaraciones pero  un año después, cuando ya se hable de otra cosa, ¡Zas!    Quizá coincida con el estrangulamiento financiero  total pepeciano de Diciembre 2015?     En cualquier caso, parece que lo verán nuestros ojos. Interesante...

[Lego]

http://www.zerohedge.com/news/2013-10-18/9-signs-china-making-move-against-us-dollar

9 indicios de China maniobrando contra el dolar.

Es artículo que recopila varias noticias recientes en esa línea. Algunas las hemos comentado ya en el foro.

Lo traigo además porque en los comentarios hay algunos posts interesantes.

[Frommer]

Un artículo con forma de "historieta" que publica hoy El Pís de Paulo Coelho, que sin duda es un gran escritor, pero que sin pretensiones le diría que parece que se ha leído este hilo y ha creado su artículo con lo que aquí han dicho y aportado los ilustres foreros, dándole forma de "cuento" o como quieran llamarlo, gracias a su evidente capacidad para tal menester:

http://internacional.elpais.com/internacional/2013/11/25/actualidad/1385410603_083900.html

El misterioso ‘mister’ Lee
China es la mayor acreedora de deuda estadounidense. Si un día decidiese vender sus títulos, el dólar y la economía de EE UU se irían al traste

Paulo Coelho 25 NOV 2013 - 21:16 CET7

(...)

Como todos sabemos, China es la mayor acreedora de deuda estadounidense. Si un día decidiese vender sus títulos, el dólar —y la economía de EE UU— se irían al traste.

Todos dicen: pero la mayor perjudicada sería la propia China. ¿Es verdad eso?

Me imagino un día de noviembre de 1978, cuando el nuevo líder del Partido Comunista Chino, Deng Xiaoping, consolidado en el poder, envía a miles de estudiantes a Singapur y Tailandia para aprender cómo funciona el sistema capitalista. Es el comienzo de la Gran Marcha hacia la potencia mundial que conocemos hoy. Muchos de los insatisfechos dicen: estamos traicionando los ideales comunistas.

Deng no contesta, porque tiene un plan secreto.

¿Y cuál es ese plan? Conquistar el mundo.

No sirve de nada explicar a los disidentes que el capitalismo solo puede ser destruido desde dentro: los radicales del Partido no lo va a entender. Pero Deng sabe lo que hace: escoge a un joven, al que llamaremos Lee, y le explica:

- Haremos un gran esfuerzo, como el que hizo antes de nosotros el Gran Timonel. Será duro; al comienzo exigirá un gran sacrificio de nuestra población, pero poco a poco invertiremos en obligaciones estadounidenses. Y cuando alcancemos cierta cantidad (solo mister Lee sabe la cifra exacta) lo venderemos todo el mismo día. Para entonces ya tendremos activos sólidos en todos los rincones del mundo: de Sudamérica a África, de Europa a Estados Unidos. Nuestro superávit se desvalorizará, pero el de otros países simplemente desaparecerá de la faz de la tierra. Y tendremos minas de carbón, siderúrgicas, una gran cantidad de tierras cultivables, empresas de alta tecnología, construcción, telecomunicaciones, etcétera.

(...)

[Starkiller]

- Haremos un gran esfuerzo, como el que hizo antes de nosotros el Gran Timonel. Será duro; al comienzo exigirá un gran sacrificio de nuestra población, pero poco a poco invertiremos en obligaciones estadounidenses. Y cuando alcancemos cierta cantidad (solo mister Lee sabe la cifra exacta) lo venderemos todo el mismo día. Para entonces ya tendremos activos sólidos en todos los rincones del mundo: de Sudamérica a África, de Europa a Estados Unidos. Nuestro superávit se desvalorizará, pero el de otros países simplemente desaparecerá de la faz de la tierra. Y tendremos minas de carbón, siderúrgicas, una gran cantidad de tierras cultivables, empresas de alta tecnología, construcción, telecomunicaciones, etcétera.

(...)

...y un montón de escombros radioactivos a los tres meses. Eso es la guerra, directamente, y sin ambajes.

Y un problema de china en un conflicto así es que a duras penas tiene aliados. Que hacen falta.

[Saturio]

- Haremos un gran esfuerzo, como el que hizo antes de nosotros el Gran Timonel. Será duro; al comienzo exigirá un gran sacrificio de nuestra población, pero poco a poco invertiremos en obligaciones estadounidenses. Y cuando alcancemos cierta cantidad (solo mister Lee sabe la cifra exacta) lo venderemos todo el mismo día. Para entonces ya tendremos activos sólidos en todos los rincones del mundo: de Sudamérica a África, de Europa a Estados Unidos. Nuestro superávit se desvalorizará, pero el de otros países simplemente desaparecerá de la faz de la tierra. Y tendremos minas de carbón, siderúrgicas, una gran cantidad de tierras cultivables, empresas de alta tecnología, construcción, telecomunicaciones, etcétera.

(...)

...y un montón de escombros radioactivos a los tres meses. Eso es la guerra, directamente, y sin ambajes.

Y un problema de china en un conflicto así es que a duras penas tiene aliados. Que hacen falta.

Una cosa que tengo medianamente clara, aunque haya llegado a ella de forma un poco intuitiva es que los días de USA como gran potencia mundial están contados. Y no sólo eso sino que les espera un guano gordo.

Pero por otro lado tampoco me caben en la cabeza unos EUA que sencillamente se resignen a esa pérdida de importancia y al guano. La decadencia de una superpotencia que se cree el mejor país del mundo puede ser muy, pero que muy peligrosa.

[Karunel]

Es cierto que apretar el botón puede causar el fin del mundo (pa qué mentir, es así de simple), pero no es menos cierto que tener el botón ya por si mismo da un gran poder sobre los EEUU. Sin tener que pulsarlo.

[Karunel]

De nuevo, jaque...

Iran Deal Nullifies Needs for Europe Missile Shield - Russian FM

Court Hears Claims of Nepotism at Bolshoi Theater | Russia | RIA Novosti]Ria Novosti[/url]

Unos que están jugando sus cartas con mucha maña.

[wanderer]

Sobre el crecimiento falso y dopado de los US (y de como el rendimiento marginal de su nuevo endeudamiento es negativo):

The US Economy Is Growing Much Slower Than You Think...

Submitted by Bill Bonner via Acting-Man blog,

Deceptive and Fraudulent …

"Products are paid for with products," said French economist and free-trade proponent Jean-Baptiste Say. He meant that if you want to get something, you better have something you can trade for it. What would Say make of the latest US GDP report?

Last week brought two important pieces of news: one deceptive, the other fraudulent.

The deceptive news was that the Fed, in its last Ben Bernanke moment, would stay the course. The course in question is the "12-Step Counterfeiters Anonymous" program popularly known as "tapering" of QE.

The Fed says it will stay on the program, leading investors to believe that the central bank's PhDs were steadfast in their commitment to end their bond buying … and that the economy was healthy enough that it didn't need QE to prop it up. Neither of those things is true.

The fraudulent news was that US economy grew at a 3.2% annualized pace in the last quarter of 2013. We're still in the weakest recovery since the end of World War II. But since 1950, the composition of the US economy has changed so substantially that GDP 'growth' no longer means what it used to mean.

"Disappointing numbers on jobs and housing also raise concerns about whether the economy is accelerating," reports the Wall Street Journal.  Wait. Jobs and housing are fairly important. If the news from those quarters is disappointing, what's really up with the economy?

The explanation: "A big driver of growth in the fourth quarter was consumer spending, which grew 3.3%." The Journal quotes Bill Simon, Wal-Mart's USA CEO: "I never cease to be amazed at the American consumers. They figure out a way to make it work …"

A New Kind of Growth

We are not so much amazed as appalled. And we are not so much reassured at this recovery, however weak, as we are alarmed by it. Where did consumers get the money?

They didn't earn it. So, they had to run down their balance sheets, either by spending their savings … or taking on debt. That makes this a new kind of growth: The more you grow the poorer you get.

The economy used to grow by making people wealthier. Now, consumers go further into debt, while their incomes are stagnant or falling. In 1980, a $7 trillion economy included $2 trillion of what City economist and author of Life After Growth Tim Morgan calls "globally marketable output" (GMO) – real wealth, the kind of stuff you can sell to pay your bills.

But then the economy underwent plastic surgery at the hands of quack policy makers. Now, it's unrecognizable. Today, we have a $16 trillion economy. But how much of that is from GMO? Well, about $13 trillion is consumer spending. And various statistical adjustments. Only $3 trillion is what Morgan calls GMO.

That's the real growth of the US economy since 1980 – a piddly, pathetic $33 billion a year. Barely enough to keep up with population increases.

Growth? Forget it.

http://www.zerohedge.com/news/2014-02-04/us-economy-growing-much-slower-you-think