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    Daily Digest 1/29 – Many Americans Have No Retirement Savings, Joshua Tree Could Take 300 Years to Recover From Government Shutdown

    by DailyDigest

    Tuesday, January 29, 2019, 9:01 AM

Economy

The Personal Toll of Whistle-Blowing (jdargis)

To become a whistle-blower, Darren Sewell had filed what is known as a “qui tam” complaint—the term comes from a Latin phrase that translates as “he who brings an action for the king as well as for himself.” Qui-tam cases are brought under the False Claims Act, a law passed in 1863, under President Lincoln, in response to war profiteers peddling defective weapons and ailing mules to the Union Army. The law allows private citizens to file suit on behalf of the government against anyone believed to be defrauding the government. The vast majority of these cases involve health care. To some, qui-tam cases are controversial because whistle-blowers share in the money that the government recovers.

'It could be on the scale of 2008': Expert sends warning on China downturn (thc0655)

“There will have to be a de facto nationalisation of large parts of the economy. I fear this really could be 'it' at last and they are going to have their own kind of Minsky moment,” he said.

This refers to the financial instability hypothesis of Hyman Minsky. It is when a seemingly unstoppable debt bubble collapses under its own weight in a cascade of falling asset and property prices. The authorities can cushion the crash, but they cannot escape the brutal mechanics of reversion.

You Won't Believe How Many Americans Have No Retirement Savings (thc0655)

Many workers assume that Social Security will suffice in retirement because their living expenses will go down once they stop working. The reality, however, is that things like housing and transportation tend to only drop modestly, if at all, during retirement. The reason? While many seniors enter retirement with their mortgages already paid off, as homes age, they tend to require more repairs and maintenance, the cost of which can be enough to offset an absent mortgage payment. The same holds true for owning a car — though retirees don't have commuting costs to contend with, they still have to worry about insurance and auto maintenance, which can be far more expensive than filling up a vehicle's tank twice a week.

The French Revolution (The Sequel) (thc0655)

And, in this, they were, of course, by no means “equal” to the proletariat who conquered them. As for fraternity, that was most certainly achieved in the form of mob violence, but it didn’t take long for the fraternity to break down, as the proletariat fought amongst themselves for the spoils, and the leaders elevated themselves above the proletariat.

But France has survived Robespierre, Napoleon and other demagogues into the present day and, for many years, the socialist party has dominated France.

As PG&E Enters Bankruptcy, Professionals Flock to Potential Fee Bonanza (Thomas R.)

PG&E Corp.’s move to file bankruptcy to deal with massive liabilities from California wildfires will be long and costly—and it may bring little relief from legal troubles stemming from its safety record, according to people getting ready to participate in the case.

Popular blood thinner warfarin no longer recommended for most atrial fibrillation cases (Thomas R.)

“It becomes an even bigger problem as people age into their 70s and 80s,” said University of Wisconsin cardiologist Dr. Craig January, who was the lead writer for both the 2014 and 2019 guidelines. “So the numbers of people affected by Afib will go up a great deal in our society as the population of baby boomers age.”

Baltimore officials to amend proposal that called for 30 days in jail for riding electric scooters too fast (Thomas R.)

“For a criminal penalty to be imposed, a court would need to find that a violation of the law was so egregious that a criminal penalty is deserved,” he said. “That situation was never expected to arise for a rider, but potentially might arise for a provider of a vehicle for hire.”

Morgan Stanley says sell this January comeback: 'Hop off now and rest up for the next rodeo' (Thomas R.)

Wilson, among Wall Street's most bearish, has been calling for an earnings recession in 2019 since early December, while many other analysts now believe the plunge last year was an overreaction to recession fears and trade tensions. The S&P 500 is now up more than 10 percent from its worst Christmas Eve ever driven by upbeat earnings, but at the same time, the valuation is much less attractive and there's little catalyst in sight to drive the market higher.

It Could Take Joshua Tree 300 Years to Recover From the Government Shutdown (tmn)

“What’s happened to our park in the last 34 days is irreparable for the next 200 to 300 years,” former Joshua Tree National Park Superintendent Curt Sauer said at Shutdown the Shutdown for Joshua Tree National Park, a rally this past Saturday near the California park, where more than 100 people amassed to decry the environmental and economic impacts that the shutdown had on Joshua Tree.

Tesla: Here's Why I Just Increased My Position By 42% (Thomas R.)

Tesla (TSLA) has gotten battered in recent days following its unexpected announcement of job cuts and cautious comments from CEO Elon Musk. The company's stock dropped precipitously, cratering by 20% in just 3 days. Tesla now trades towards the bottom-end of a prolonged trading range, roughly 25% below its recent highs reached in December.

Gold & Silver

Click to read the PM Daily Market Commentary: 1/28/19

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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3 Comments

  • Tue, Jan 29, 2019 - 9:29am

    #1

    saxplayer00o1

    Status Silver Member (Offline)

    Joined: Jul 30 2009

    Posts: 2955

    Does this dress make my butt look big?

    What do you love more: me or that football game?

    …and this list could go on. We’re doomed.

     

    Engineers translate brain signals directly into speech

    Science Daily-3 hours ago
    Engineers translate brain signals directly into speech … have created a system that translates thought into intelligible, recognizable speech.

    Machine that can read your mind and convert THOUGHTS into speech …In-Depth-Daily Mail-3 hours ago

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  • Tue, Jan 29, 2019 - 10:07am

    #2

    thc0655

    Status Platinum Member (Offline)

    Joined: Apr 27 2010

    Posts: 1484

    Shooter’s motive for Mandalay massacre

    https://apnews.com/00b90ac3e97a41c3b3c078855b32d75f
    Pretty slim info, especially from the FBI after all this time. 
    Like the great majority of mass murderers in at least the last 20 years, he was on (or recently stopped taking) medication for mental health issues (anti anxiety in his case). 
    Personally, I remain skeptical of the whole “investigation.”  It appears someone high up in the .gov wanted to hide something. Was there a Saudi connection? Did the shooter have animosity toward “Trump supporters?” I don’t know, but the way the “investigation” was handled almost begs for people to be suspicious from many angles.
    I stand by my conviction that we could nearly eliminate these massacres by robbing the perps of the fame and publicity that is the core of the motivation they all share. The media could accomplish that by voluntarily following three rules when they report on these incidents: 1) never mention the murderer’s name, 2) never show the murderer’s picture, and 3) never go into detail about the murderer’s motivation if he expresses it. Following those three rules voluntarily would still leave plenty of latitude and preserve their ability to make money off of these incidents.

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  • Tue, Jan 29, 2019 - 11:12pm

    Reply to #2
    TechGuy

    TechGuy

    Status Bronze Member (Offline)

    Joined: Oct 13 2008

    Posts: 306

    Infamy

    thc0655 Wrote:
    “I stand by my conviction that we could nearly eliminate these massacres by robbing the perps of the fame and publicity that is the core of the motivation they all share.”
    I doubt it would make a difference. Crazy people do crazy things. For instance john hinckley jr shot reagan so he could have a relationship with Jodie foster. The idea of assassinating Reagan originated from a Movie he saw. Crazy people get delusional ideas in their heads and act upon it. They live in there own version of reality and are largely obvious to fame as a motivation.
    “Like the great majority of mass murderers in at least the last 20 years, he was on (or recently stopped taking) medication for mental health issues (anti anxiety in his case).”
    Most of the recent incidents involve people taking SSRI drugs. They should have been banned a long time ago, but the medical & psychology industry make money hand over fist selling & prescribing them. We certainly see many more mass murder attacks in the future, until we stop trying to treatment of mental illness soly with prescription drugs. Consider that 1/6 of the entire US population is taking prescription drugs to treat some form of mental illness (ie about 20% of the entire US population is clincally mentally ill) Thats a lot of people that can snap.
    To be realistic, we are probbably very lucky that non of these people had the ability to commit a really large mass murder, resulting in tens of thousand or millions of dead. Since 1995 the two worse cases have been the Oklahoma bombing killed 168 people (1995) and the 2001 9-11 attack killed about 3,000 people. What if one of these crazy people unleash a pandemic or cause a nuclear reactor meltdown near a major city? lets not for get all the crazy people running gov’ts around the world.
     

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