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    Daily Digest 1/1 – Margin Call USA, Shutdown Brings Turmoil To National Parks

    by DailyDigest

    Tuesday, January 1, 2019, 11:21 AM


Hedge funds’ hopes for 2018 dashed amid closures (Adam)

But one record set in 2018 was a landmark few hedge fund luminaries cared to dwell on. Last October, in what industry insiders believe to be a first, three US-based hedge funds shut in the course of the same week. Tourbillon and Criterion were among those to cease operations, following an inability to generate sufficient money and capital.

Forecast 2019: Ding Ding ! Margin Call USA (thc0655, pinecarr)

Before 2019 is out, the US could find itself in a situation worse than the Great Depression. Supply lines are much longer now than they were then. If suppliers can’t get paid because trust has collapsed in the short-term corporate paper system, they won’t deliver supplies, which means you may not eat, or fill your gas tank, or heat your house, or get whatever else you need. Also, the USA in 1931 had not yet transformed itself into the fiasco-waiting-to-happen called suburban sprawl. How is Dallas going to work for people who spend a substantial chunk of their income on mandatory motoring (if there’s little or no income)?

2019: Mayhem, Misallocation & the Mockery of True Price Discovery (Kevin J.)

In case you didn't get the memo, we are now officially in a bear market, and because this bear has been hibernating with not so much as one decent correction since February's 11.68% warning shot, he was an enraged, starving Papa Bear. What people are ignoring is that in the past eleven weeks he has enjoyed one massive gluttonous feast on the carcasses of shell-shocked “BTFD”-ers. While this bear was bulging-eyed ravenous on Oct. 3 from years of neglect, for the past eight weeks (save last week's PPT stick save) he devoured everything in his path and is ready for a brief respite from his engorgement, perhaps a nap for a fortnight or so as he prepares for his next Millennial Meal.

Big Tech May Look Troubled, but It’s Just Getting Started (jdargis)

There is so much of life that remains undisrupted. The companies are competing to own the cloud — to become, in essence, the internet’s landlord. They have designs on cities: Google made a deal in 2017 to reimagine a chunk of waterfront Toronto from the ground up. Amazon is reworking the definition of community from the inside, as warehouses in rural areas provide the urban middle class with everything they want to stay home all weekend.

If You’re Over 50, Chances Are the Decision to Leave a Job Won’t be Yours (tmn)

Many Americans assume that by the time they reach their 50s they’ll have steady work, time to save and the right to make their own decisions about when to retire.

But as Steckel’s situation suggests, that’s no longer the reality for many — indeed, most — people.

Why the West Coast Is Suddenly Beating the East Coast on Transportation (jdargis)

The Los Angeles area, the ultimate car-centric region with its sprawling freeways, approved a sweeping $120 billion plan to build new train routes and upgrade its buses. Seattle has won accolades for its transit system, where 93 percent of riders report being happy with service — a feat that seems unimaginable in New York, where subway riders regularly simmer with rage on stalled trains.

Jair Bolsonaro's inauguration: the day progressive Brazil has dreaded (TS)

Perhaps no area faces a greater shake-up than the environment. To the horror of the environmentalists he so loathes, Bolsonaro has repeatedly signalled a desire to roll back environmental protections and make it easier to destroy the world’s biggest rainforest. Deeds have accompanied those words.

'It's a free-for-all': shutdown brings turmoil to beloved US national parks (tmn)

Jeremy Barnum, a National Park Service spokesman, had said as the shutdown took hold that “national parks will remain as accessible as possible while still following all applicable laws and procedures.” In practice, that has meant many park toilets were closed or filled to overflowing and acutely unable to deal with the larger crowds entering over the holiday period and taking advantage of the fact that many fees are not being charged during the shutdown.

Gold & Silver

Click to read the End Of Year Market Commentary: 12/31/18

Provided daily by the Peak Prosperity Gold & Silver Group

Article suggestions for the Daily Digest can be sent to [email protected]. 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.”

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  • Tue, Jan 01, 2019 - 11:35am



    Status Gold Member (Offline)

    Joined: Apr 13 2008

    Posts: 1088

    CHS - A Couple of Thoughts on 2019

    From Charles Hugh Smith’s Of Two Minds blog, “A Couple of Thoughts on 2019

    The story of the 21st century is debt is soaring while earned income is stagnating for the bottom 95%.

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  • Tue, Jan 01, 2019 - 8:59pm



    Status Bronze Member (Offline)

    Joined: May 03 2014

    Posts: 524

    Further to A couple of thoughts on 2019

    It strikes me as somewhat ironic that many of us, that wear the mantra of  “Prophets of Doom” as we observe and comment on the state of the world, do it from the centrally heated, digitally enhanced, energy flushed, quasi-democratic, comfort of our Smart screens. I am not immune to this condition, yet, feel somewhat compelled to offer my two-cents worth as I watch the world go by. After reading Chris’s New Years Premium “freebie”, it struck me again that the financialization of our economic world opens us all up to the reality of the consequences of what defaulting-on-a-contract entails. Having some experience in the grain business, I have first hand knowledge of what a default or late payment means for cash flow. However, we sometimes forget the broader implications of what happens when affects sovereign debt. As CHS points out, items 7,8, and 9 are the bottom side of the iceberg. What happens when the major powers get caught in the squeeze?
    The following reference should serve as a reminder:

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  • Wed, Jan 02, 2019 - 5:53am



    Status Silver Member (Offline)

    Joined: Jul 30 2009

    Posts: 2955

    Top 5 countries opting to ditch US dollar & the reasons behind t

    Top 5 countries opting to ditch US dollar & the reasons behind their …

    RT-8 hours ago
    However, the People’s Bank of China has been regularly reducing the country’s share of US Treasuries. Still the number-one foreign holder of the US sovereign …

    Futures slide at start of year on concerns of global slowdown

    WSAU News-44 minutes ago
    China’s factory activity contracted for the first time in 19 months in December, hit by … A low appetite for risk sparked demand for U.S. Treasuries, with yields on …

    China fourth-quarter economic growth may fall below 6.5 percent …

    Reuters-1 hour ago
    BEIJING (Reuters) – China’s economic growth could fall below 6.5 percent in the fourth quarter as companies face increased difficulties, a central bank magazine …

    Italy Manufacturing Shrinks Again as Nation Nears Recession

    Bloomberg-4 hours ago
    The standoff was resolved at the final hour but unease remains amid a euro-area economic slowdown, less monetary support from the European Central Bank …

    Euro zone factories ended 2018 on a low note: PMIReuters-4 hours ago

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