(We have been delighted that Obama, in his anti-Trump flog, said that “Trump is only taking advantage of RESENTMENT.” He agrees with us and supposes the self-critical recognition that the cause of social pathology is the popular-capitalist model. The alleged White House mole who hypothetically would have published in the New York Times that Trump’s environment conspires against him? Probably a second-degree ‘fake new’. To terror, with terror. Blacklists circulate, which include the Vice President. The burden of proof has been reversed. We are in the decomposition typical of the end of an era, the popular-capitalist era. The end of Trump will be the end of the end of popular-capitalism. Speaking of terror in Spain, in the same newscast, we are announces that the price of the little apartments continues and will continue unstoppable – «’Himbertid, himbertid’, damned!» – and that, if you dare to resist to succeed as a ‘himbersor’, that you know that what comes to your world of ‘ working poor ‘ The loser is the hive-floor crammed with bunk beds for the ‘modest’ price of twice the natural rent. But nobody believes anything. They are crude ‘fake news’. We all know that normal people are not buying flats in this precarious Spain, which will find it very difficult to manage the ULTRA STRONG EURO that looms over the world. So why are these bells out of tune, with ‘The Economist’ saying that world price dynamics have already changed and with the ECB proclaiming that the next crisis will also be of real estate etiology? Because every Bubble / Rebubble is accelerated at the end to gain room for maneuver during the Puncture / Puncture. its inflation, too; the intervention interest rate, at 2%; GDP advances to 4% and without unemployment; exchange rates, those of a hegemonic currency; and the Stock Market and real estate, with ‘movie’ prices that adjust themselves. Almost the same can be said for the UK. How beautiful! It is a pity that this ‘goldilocks macroeconomy’ is falsified in accounting, that private and public indebtedness is elephantine, that Income distribution is terrible for the capitalist system and that it is financed at the expense of entire foreign economies, such as those of Turkey, Argentina and South Africa – the next: India, Indonesia, Egypt, Mexico, Brazil, Colombia and Poland; China, no. Maximum (theoretical) splendor, but filthy (embarrassing) deceptions, among which are the most shameful real estate prices in History —v. gr., a small middle-class apartment for a whole Nobel Prize— and the disgrace of a sordid proto-real estate occupying the Head of State in the United States. The US and UK have lost our acceptance and approval. And the person of the American President, moreover, has lost our appreciation. What is the situation in the US telling us? A graph is worth a thousand words (S & P500 net historical inflation; ‘A Perspective on Secular Bull and Bear Markets’, 09/04/2018, ‘advisor perspectives com’): http: //cort.as/-9wSa It’s being heard that “this time, central banks are in a worse position to face the crisis”: https: //www.bloomberg.com/news/articles/2018-09-06/fed-in-worse-shape-to-combat -crisis-than-10-years-ago-g-30-says This time, the banking / Shadow is going to take the worst part, in terms of protection from dad-monetary-fiscal sovereignty. Banking / Sol and even banking / Sol y Sombra have their shield in place after a decade of digesting mortgage garbage. The blow, this time, will be taken by individuals in funds and investment companies, entities whose illiquidity and insolvency will only indirectly affect certain conventional banks. Especially, the crisis is going to be primed with that part of the bank / Sombra that is getting into ‘landlord’ by displacing former former tenants of a lifetime, which is denounced, for example, here: http: //www.rentalhousingjournal.com / articles / 2018/08/21 / big-wall-street-landlords-sued-tenants- «Wall Street landlords crowd out mom and pop landlords». Regarding the economy, that is, regarding the countercyclical stabilization function, Monetary Policy has little or nothing to say in the Zero Era. All the weight falls on Fiscal Policy. In fact, Monetary Policy has long since lost the limelight. All the ball is in the fiscal roof, already tax, already budgetary, although it was not yet the moment to play with it, because the bank has been draining garbage until now. This time, the ‘stimulus’ can only be to lighten production costs by radically lowering basic real estate costs. BASIC REAL ESTATE ARE TOO IMPORTANT FOR CAPITALISM AS IT IS FOR EXPERIMENTS OF ‘MARKET ECONOMY’ STARRED BY WORKERS GIVEN TO CAPITALISTS AND KORED BY GROWING SELLERS WITH INTERESTING INCONFORTABLE half an hour of viewing on the internet —we have lost a half hour of unbelievable viewing on the internet. a Madrid financial employee turned ‘Power Point’ teacher, on the verge of a myocardial infarction, who, in the end, in short, only recommends buying small apartments, blaming the central banks and the State; Never forget that worker-managers have a working-class mentality, albeit ‘right-wing’. The ‘America Great Again’, deep down, has come from pearls to us Europeans. We have understood that the North American State was not our friend as we believed. In addition, we are interested in the current situation continuing over time. We are interested in having a lot of North American bond issues at the current interest rate level or higher. We are interested that the weight of its honor determines a future for the EUR / USD of 1.6000 – this is already the case – and the North American State has to fill up with its own currency trying to manage the depreciation. Let’s not get carried away by the euphoria. Let the fools continue to get infected. This time they are doing it primarily with their money. Neither the United States is Switzerland nor is real estate gold or money or financial assets, although four crazy people think so — Swiss financial assets are a good investment because of the appreciation of the franc against the currency of the person who buys them, not because of their coupons. The more fools that take the bait, the more expeditious the path to Era Zero will be. Thanks for reading us. PS: Ceesepe, our personal friend, has passed away. Sad day at Moriarty. “The working class has fun”: https: //cloud10.todocoleccion.online/postales/tc/2017/08/29/21/96626075.jpghttp: //blogs.cincodias.com/el-puente/2015/09/ rondo-alla-china-de-yellen-and-2-a-stone-against-the-palaces-de-papel-1.html We will never forget you, Carlitos. I will no longer be able to get my blues harmonica back. Your loss joins that of Javier Utray and El Hortelano. Our age is passing. And he does it with us inside. We are not sixties. The sixties are popular capitalism trying to realize the workers’ declassing fantasies set to roll at the beginning of the 20th century —cf. the breakdown of the Second International. Pastueña working-class pride of ‘party in peace and obedience to-in-bed’, as referred to in the song ‘Freedom without anger’: https: //www.youtube.com/watch? V = fJfUTgIaLasWe are brothers and little cousins of sixties. If ours is passing, I excuse to tell you how past your popular capitalism should be. It is not for heroic feats like ‘El Tocomocho de A Gala Pagar’, low passions of the sixties idiotically carried out by their children, who allow themselves to be devoured believing that capitalism is popular capitalism.