Daily Digest

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Daily Digest 2/22 - The Coming Storm, Let Food Freedom Ring

Monday, February 22, 2016, 11:45 AM

Economy

The coming storm (Afridev)

The potential of these dislocations to derail the UK’s economic recovery has not been lost on our policymakers. The Bank of England’s Monetary Policy Committee has comprehensively surrendered the idea of finally raising interest rates: its one member who had been voting in favour joined the more pessimistic majority earlier this month. The Chancellor, meanwhile, has been at pains in recent speeches to warn of the “cocktail of risks” facing the British economy. There seems little doubt, in other words, that the sudden acceleration of uncertainty on global financial markets is serious. But why is it happening – and what does it mean?

This is Why People Fear the ‘Internet of Things’ (Chris M.)

But the bigger issue with these P2P -based cameras is that while the user interface for the camera has a setting to disable P2P traffic (it is enabled by default), Foscam admits that disabling the P2P option doesn’t actually do anything to stop the device from seeking out other P2P hosts online.

Fiscal Stimulus of Consumption (Wilson S.)

Indeed, there have been decades of economic stimulation in America consisting of: generally falling official interest rates since 1980 from 19 percent to near zero now; and increasing government budget deficit spending from post-war zero balances, on average, to over 10 percent of gross domestic product (GDP) in 2009. Cognitive dissonance has been blind to the fact that US consumer spending has been very responsive to economic stimulation, as private consumption and total consumption both rose in secular trends since the Second World War (WW2).

"Citizens" who speak at town meetings are hired, scripted actors (jdargis)

Tyson worked for Adam Swart, a recent UCLA grad, who runs a company called "Crowds on Demand," which hires actors to attend politicians' campaign meetings, and to deliver scripted dialog in the guise of concerned citizens. Swart says that he has been paid by "dozens of campaigns for state officials, and 2016 presidential candidates" whom he won't name, because if he "did, nobody would hire us."

Let Food Freedom Ring (Aaron M.)

Labeling laws have hampered many local and small farmers from accessing the market. The label police create unprecedented barriers to market access for small entities. Having fought these battles first hand, I don’t want any more labeling regulations. If labeling restricts choice and options in the market, why do we want more labeling regulations? The fact is nobody has to buy GMO food. Know your farmer, know your food. This kind of requirement simply reduces the search for local foods because people feel like they have all the information they need at the supermarket. I’m in favor of eliminating the supermarket, not enabling the supermarket with false security so folks quit buying local.

It Has Begun (GE Christenson)

T-Bonds (monthly chart) look, well, crazy. For a start, who lends capital to insolvent governments for 30 years at 2%? Worse, who lends capital to insolvent governments for 10 years at negative rates? You “benefit” from guaranteed capital destruction and are repaid in a devaluing currency? Desperation? arkets have gone insane? The new normal? Increase debt to solve an excess debt problem? QE did not work – so the central banks must not have done enough of it? Strange and getting stranger, or just utterly insane?

Saudi Arabia leads surge in arms imports by Middle East states (jdargis)

Overall, imports by states in the Middle East increased by 61%; imports by European states decreased by 41% over the same period. Britain sold more weapons to Saudi Arabia than to any other country. Saudi Arabia is also the biggest US arms market and buys more American arms than British, the report shows.

Iraq On The Brink Of Chaos As Oil Revenues Fall (Josh O.)

Earlier this week, Baghdad extended an offer to pay the salaries of the KRG’s public employees in return for a halting of unilateral oil exports by the Kurds. Both sides need this deal. The KRG is struggling to pay salaries, and protests are mounting—threatening the stability of what was not long ago the only peaceful and secure place in all of Iraq.

Gold & Silver

Click to read the PM Daily Market Commentary: 2/19/16

Provided daily by the Peak Prosperity Gold & Silver Group

Article suggestions for the Daily Digest can be sent to dd@peakprosperity.com. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the "3 Es."

14 Comments

saxplayer00o1's picture
saxplayer00o1
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Global Stocks Rise on Hopes for More Stimulus

Global Stocks Rise on Hopes for More Stimulus

ABC News-3 hours ago
STIMULUS HOPES: Investors are hoping this week's meeting of finance ministers from the Group of 20 major rich and developing economies will spur moves to ...

The World's Debt Is Alarmingly High. But Is It Contagious?

Bloomberg-12 minutes ago
The trouble is that no matter how much credit gets added to its economy, ... When AIG was bailed out, it held $440 billion of credit-default swaps on its books.

Yuan Forwards Rise on Bets PBOC to Support Currency Before G-20

Bloomberg-11 hours ago
The onshore currency was steady at 6.5196, according to China Foreign .... year at $1,115 an ounce and yields on 10-year Treasuries will rise to 2.74 percent by ...
 

Fear and Loathing of Negative-Yield Debt: Bond Trader's Dilemma

Bloomberg-15 hours ago
In Germany, Kind's home market, surging haven demand has pushed average yields on about 1 trillion euros ($1.1 trillion) of debt below zero for the longest ...

Global clouds darken US economic outlook

CBS News - ‎4 hours ago‎
For months, most economists and pundits have confidently predicted that the U.S. would escape the storm being whipped up by the ailing global economy. President Obama, too, couldn't resist a little chest-thumping recently after federal data showed that ...

Eurozone Economic Activity Slows

Nasdaq-5 hours ago
In the wake of falling oil prices, some economists now estimate the broad measure of inflation targeted by the central bank may have already started falling in ...

German Economy Takes a Blow From Weakening Global Demand

Bloomberg-6 hours ago
The Organization for Economic Cooperation and Development cut its global growth forecast last week and said both Germany and the euro region will expand ...

China's industrial overcapacity is 'wreaking far-reaching damage'

Deutsche Welle - ‎9 hours ago‎
And it is "wreaking far-reaching damage on the global economy in general, and China's economic growth in particular." Overcapacity can close factories, cost jobs and sour loans. China's response to the financial crisis is seen as particularly problematic.

China's Debt Seen Rising Through 2019, Peaking at 283% of GDP

Bloomberg-Feb 21, 2016
"We doubt the debt ratio will peak before 2020," said Julian Evans-Pritchard, ... banks extended a record 2.51 trillion yuan ($385 billion) of new loans in January.

How 'negative interest rates' marked the end of central bank dominance

Telegraph.co.uk - ‎19 hours ago‎
Economists at JP Morgan have suggested some central banks might be able to push their rates as low as minus 4.5pc. Malcolm Barr, an economist at the investment bank, says G7 central banks historically have cut their rates by around one percentage point ...

Circulation of Switzerland's 1000 Franc Note Jumps

Wall Street Journal-4 hours ago
The increased prevalence of the large bill comes amid recent calls for major central banks to restrict the circulation of big bank notes, which critics say make it ...

Morneau's Revision Puts Canada on Path for C$30 Billion Deficit

Bloomberg - ‎14 minutes ago‎
Finance Minister Bill Morneau released new forecasts suggesting Canada will run deficits in the vicinity of C$30 billion ($22 billion) this year, as the slump in crude prices takes a bigger bite out of the nation's finances than previously thought. A ...

'Worst cash crisis in its history' facing NHS as deficit rises over £2.2 billion warn MPs

The London Economic - ‎4 hours ago‎
Heidi Alexander Shadow heath secretary said: “The Tories have caused the worst cash crisis in the NHS's history. Hospitals were already forecasting a £2.2 billion deficit this year. “However, today's figures show the black hole in the NHS's finances is ...

Indian Sovereign Bonds Decline on Supply Concern, Budget Deficit

Bloomberg-9 hours ago
Twenty-one states plan to sell 207 billion rupees ($3 billion) of notes at an auction on Feb. 23, according to a central bank statement after trading closed on ...

£4bn raid on pension savings likely, says former Osborne adviser

The Guardian-22 hours ago
Steve Webb believes Osborne's latest review of retirement savings is leading him towards scrapping all tax relief on pensions. Photograph: Rui Vieira/PA.

Sovereign Wealth Funds May Sell $404 Billion of Equities

Bloomberg-5 hours ago
Pal has also advised clients to buy credit-default swaps on European lenders, calling bankruptcies or government bailouts a key “black swan” risk this year.

Tightening credit heralds more pain in US farming downturn

Reuters-6 hours ago
But bankers are worried about the potential of loan defaults as incomes fall, prompting farmers to take on more debt. U.S. farm debt, adjusted for inflation, is now ...
KugsCheese's picture
KugsCheese
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How to Think of Today's Market Volatility?

Today's market volatility can be thought of as water in a glass vessel being heated up.  Things look fine though hot, then slight disturbance, then calm, then disturbance, then massive spilling boil, then glass breaks.  Thanks Central Banks!

Arthur Robey's picture
Arthur Robey
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Crystal Ball, there's a sexy app for that.

I predict that the market will do a work-around with the banning of Notes. 

I'm guessing peer to peer IOUs to start with. And then electronic wallets where physical contact has to be made to balance the books. Your wallet has to touch my wallet, nothing wireless. (Very sexy).

This hasn't been thought through by banks, nor the taxman. For added privacy there will be two wallets,  one blue, the other pink.

Merchants,  shady or otherwise,  are going to love it.

The law of unintended consequences. 

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Time2help
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HughK
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Posts: 732
Contactless card theft

Arthur Robey wrote:

I'm guessing peer to peer IOUs to start with. And then electronic wallets where physical contact has to be made to balance the books. Your wallet has to touch my wallet, nothing wireless. (Very sexy).

But there also may be nonconsensual violations:

Contactless card theft

Bankers Slave's picture
Bankers Slave
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More "gettin played" . Shame on Mr Jones!

Destroy WTC7 and construct 28 pages in its place!

The Neocons playing their TRUMP card!

A brilliant tactic to close down Ae911 truth and all the others. Saudi = Lee Harvey Oswald.

People will believe this crap! So sad!

Bankers Slave's picture
Bankers Slave
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Jail some puppets is not enough! Well done though Mr Penn!

Arthur Robey's picture
Arthur Robey
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I see a group of My people

I see a group of My people having a good time. T2H

Who was the photographer and what his goal? 

The issue is not who is against whom, but to prevent the genocide of My people. The way that the genocide is being done is to pit us one against the other, down to the last gentile.

Arthur Robey's picture
Arthur Robey
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Posts: 3936
The end of oil.

Just in on the wire

The Cookbook ice in the signal ...
Prepare >>>> The End of the Carbon Age is Nigh
Thankyou to all Those That Helped Us
MFMP? 

Another and scientific experimental verification, whereas Rossi has an engineering accomplishment.
MFMP are teasing us with their tweet.

 

http://www.quantumheat.org/index.php/en/

 

https://www.lenr-forum.com/forum/index.php/Thread/2795-MFMP-trying-to-te...

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Waterdog14
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saxplayer00o1

saxplayer00o1 wrote:
Reuters-6 hours ago
But bankers are worried about the potential of loan defaults as incomes fall, prompting farmers to take on more debt. U.S. farm debt, adjusted for inflation, is now ...

The article doesn't say it explicitly, but it appears that the industrial agricultural model (huge tractors, loans for seed & chemicals, fuel-intensive production...) is starting to unravel. 

I attended an NRCS soil health workshop in western Colorado two weeks ago.  The science was clear:  soil health can be rejuvenated without the chemicals.  Our nation would be better off without the farm bill that forces farmers into monoculture, synthetic fertilizers, and credit traps.   A "natural" producer at the soil health forum explained that although his yield per acre wasn't always the highest in his county, it was well above average.  And his production costs were significantly lower because he used natural methods (like cover cropping, minimal disturbance / no-till, no herbicides, no pesticides, integrated livestock).  So he didn't have to borrow from the bank to buy pesticides and herbicides, and he made more money overall.

I feel bad for the farmers that are struggling under their ag loans, but it's truly time for the system to change.

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Waterdog14
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Electronic Wallets

deleted by Waterdog

Yoxa's picture
Yoxa
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Posts: 206
RFID fabric

Re contactless card theft ... for most of us the risk would be low but it's not imaginary.

I'm considering getting some of this stainless steel fabric to experiment with for lining tote bags, pockets, and so on:

https://www.ahh.biz/fabric/specialized/stainless_steel_ultra_fine_fabric.php

There's many items on the market with RFID-protective pockets but the pockets are usually pretty small. Something bigger would be nice.

TechGuy's picture
TechGuy
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Re: Gettin' played again 'Murica?

You nailed it. I am on the same Boat. We now have a single party system.

reflector's picture
reflector
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Posts: 121
people

Arthur Robey wrote:
I see a group of My people having a good time. T2H Who was the photographer and what his goal?  The issue is not who is against whom, but to prevent the genocide of My people. The way that the genocide is being done is to pit us one against the other, down to the last gentile.

who are your people, arthur?

how do you identify who is one of your people, and who is one of "the others"?

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