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    Daily Digest 10/28 – U.S. Budget Deficit Largest Since 2012, Fires And Power Outages In CA

    by Daily Digest

    Monday, October 28, 2019, 8:04 AM

Economy

U.S. government’s annual budget deficit largest since 2012 (tmn)

It is the first time since the early 1980s that the budget gap has widened over four consecutive years. The figures reflect the second full budget year under U.S. President Donald Trump, a Republican, and come at a time when the country has an expanding tax base with moderate economic growth and an unemployment rate currently near a 50-year low.

The Kingpin Problem (TS)

To the extent that widespread deaths among ISIS middle- and upper-management ranks made it difficult for the organization to function—a tactic Barack Obama also relied on to help cripple terrorist networks—there was no symbolic victory like the death of the very top leader. And Baghdadi’s death is indeed a turning point in the War on Terror, just as Osama bin Laden’s was in 2011. It’s just not clear what the war is turning to.

Let’s talk about the US deploying more troops to Syria (Don R.)

Video

Trump wants to make a deal with Exxon or others to tap Syrian oil: ‘We should be able to take some’ (Sparky1)

“This was the chief source of revenue for a long time for ISIS,” Graham said. “It is now in the hands of Syrian Democratic Forces, which are Arabic Kurds, mostly Kurds, with the partnership with the United States. So, no this doesn’t violate any law. In my view, what it does is just good common sense foreign policy.”

“This is a win-win,” he continued. “The SDF will get more money if we can modernize the oil fields.”

Your Uber Driver Is ‘Retired’? You Shouldn’t Be Surprised (jdargis)

Despite spending 40 to 60 hours a week picking up riders in his 2015 Subaru Forester, Mr. Ellenbogen is barely surviving financially. He had to give up his apartment and move into his mother’s condo in Verona, N.J. He relies on Medicaid for health care.

“It’s something I’m accepting because I’m in need of money,” he said of his Lyft gig. “I’m capable of better things, but this is what’s available to me.”

German X-Ray Telescope Takes First Images of Universe. Here They Are (Thomas R.)

“These first images from our telescope show the true beauty of the hidden universe,” Peter Predehl, principal investigator of eROSITA, said in a statement. “To meet our science goals, we needed enough sensitivity to detect the most-distant clusters of galaxies in the universe over the whole sky and resolve them spatially. These first light images show that we can do exactly that, but we can go a lot further.”

A health care algorithm offered less care to black patients (jdargis)

When the researchers compared black patients and white patients to whom the algorithm assigned similar risk scores, they found the black patients were significantly sicker, for example with higher blood pressure and less well-controlled diabetes. This had the effect of excluding people from the extra care program on the basis of race. The hospital automatically enrolled patients above certain risk scores into the program or referred them for consideration by doctors.

Elon Musk Set Up His Shanghai Gigafactory in Record Time (tmn)

Sometime in late 2019, the first Chinese-made Tesla Model 3 destined for customers will roll off an assembly line at Tesla Inc.’s new Shanghai Gigafactory. When that happens, it’ll be a rare case in which Elon Musk, the company’s famously scattered chief executive officer, has managed to hit one of his famously ambitious deadlines.

Kincade Fire: The Age of Flames Is Consuming California (tmn)

There’s good reason that, for the past three years, Northern California has seen particularly massive, fast-moving wildfires tear through communities. Every autumn, winds blow in from the northeast, heating up and picking up speed as they descend through mountain valleys. This sucks moisture out of vegetation, turning it into the perfect fuel for wildfires.

As many as 2 million in California may have power cut as fires rage (tmn)

There are already indications that, despite earlier power shutoffs in anticipation of the week’s fire weather, the largest of the state’s fires, the Kincade fire in Sonoma County, started near a PG&E transmission tower that malfunctioned around the same time, authorities said.

Wind-Fueled Wildfires Push California Governor To Declare State Of Emergency (Thomas R.)

The Kincade Fire is just 5% contained after three days and has burned about 54,000 acres, according to the California Department of Forestry and Fire Protection. Smoke from the fires is affecting the entire Bay Area, though in most of the region, air quality was not expected to exceed the “Unhealthy for Sensitive Groups” range.

Gold & Silver

Click to read the PM Daily Market Commentary: 10/25/19

Provided daily by the Peak Prosperity Gold & Silver Group

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6 Comments

  • Mon, Oct 28, 2019 - 9:49am

    #1
    Rodster

    Rodster

    Status Member (Offline)

    Joined: Aug 22 2016

    Posts: 37

    2+

    Uber and Lyft = Pizza Delivery

    I never understood people wanting to blowup their cars to chase so little money. It’s the same with pizza delivery which I did decades ago. You drive around like a manic and maybe make $50-60 a night making deliveries. Some nights I could make $85 which was a really good tip night. Yet you have to subtract your fuel and vehicle maintenance bills such as brakes, tires, oil changes. Then you figure out that what you’re really making in a night is around $10 bucks.

    I serviced a Lyft vehicle yesterday. It was a 2015 Mitsubishi Lancer with less than 70,000 miles and the motor oil had developed sludge. Unless you are independent and find your own customers with multiple stops along the way, it’s hard to make money doing Lyft, Uber or pizza delivery. Sure there’s always going to be the exceptions that companies will use to lure people into their service but by and large the one providing the service with their vehicle is the one that loses.

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  • Mon, Oct 28, 2019 - 11:52am

    #2
    Nate

    Nate

    Status Silver Member (Offline)

    Joined: May 05 2009

    Posts: 335

    5+

    Kunstler - The Fumes of Fanaticism

    Judging by the volume of intemperate emails and angry social media blasts that come my way, the party of impeachment seems to be inhaling way too much gas from the smoking guns it keeps finding in the various star chambers of its inquisition against you-know-who. You’d think that the failure of Mr. Mueller’s extravaganza might have chastened them just a little — a $32 million-dollar effort starring the most vicious partisan lawyers inside-the-Beltway, 2,800 subpoenas issued over two years, 500 search warrants exercised, and finally nothing whatever to pin on Mr. Trump — except the contra-legal assertion that now he must prove his innocence.

    When you state just that, these frothing hysterics reply that many background figures — if not the Golden Golem of Greatness himself — were indicted and convicted of crimes by Mr. Mueller’s crew. Oh yes! The Russian troll farm called the Internet Research Agency was indicted for spending $400,000 on Facebook ads (and never extradited or tried in a court-of-law). Pretty impressive victory there! The hacking of Hillary Clinton’s emails by “Russia”? Still just alleged, never proven, with plenty of shady business around the search for evidence. Paul Manafort, on tax evasion of money earned in Ukraine, 2014? We’ll see about that as the whole filthy business of the 2014 Ukraine regime change op under Mr. Obama gets reviewed in the months ahead. George Papadopoulos for lying to the FBI? Stand by on that one, too; still a developing story. General Michael Flynn, for ditto? You may have noticed that General Flynn’s case is shaping up to be the biggest instance of prosecutorial misconduct since the Dreyfus affair (France, 1894-1906, which badly-educated Americans most certainly know nothing about).

    To set the record straight I’m forced to repeat something that these New Age Jacobins seem unable to process: you don’t have to be a Trump cheerleader to be revolted by the behavior of his antagonists, which is a stunning spectacle of bad faith, dishonesty, incompetence, and malice — and is surely way more toxic to the American project than anything the president has done. Every time I entertain the complaints of these angry auditors, I’m forced to remind myself that these are the same people who think that “inclusion” means shutting down free speech, who believe that the US should not have borders, who promote transsexual reading hours in the grammar schools, and who fiercely desire to start a war with Russia.

    That’s not a polity I want to be associated with and until it screws its head back on, I will remain the enemy of it. In fact, in early November I’m traveling to New York City, where the Jacobin city council has just made it a crime to utter the phrase illegal alien in a public place, with a $250,000 penalty attached. I challenge their agents to meet me in Penn Station and arrest me when I go to the information kiosk and inquire if they know what is the best place in midtown Manhattan to meet illegal aliens.

    The volume of Jacobin hysteria ratcheted up to “11” late last week when the news broke that the Attorney General’s study of RussiaGate’s origins was upgraded to a criminal investigation, and that a voluminous report from the DOJ Inspector General is also about to be released. What do you suppose they’re worried about? Naturally the Jacobins’ bulletin board, a.k.a The New York Times, fired a salvo denouncing William Barr — so expect his reputation to be the next battle zone for these ever more desperate fanatics. Talk of preemptively impeaching him is already crackling through the Twitter channels. That will be an excellent sideshow.

    Meanwhile, how is Rep, Adam Schiff’s secret proceeding going? Last week he put out a narrative that US Chargé d’Affaires to Ukraine Bill Taylor fired a gun-that-smoked fer sure in testimony. Except, of course, as per Mr. Schiff’s usual practice, he refused to issue any actual transcript of the interview in evidence, while there are plenty of indications that Mr. Taylor’s second-hand gossip was roundly refuted under counter-questioning by the non-Jacobin minority members of the House intel Committee. Mr. Schiff’s pattern lo these many months of strife has been to claim ultimate proof of wrongdoing only to have it blow up in his face. It’s a face that many Americans are sick of seeing and hearing from, and I am serenely confident that before this colossal scandal is resolved, the Congressman from Hollywood will be fatally disgraced, as was his role-model, Senator Joseph McCarthy, before him.

    The Fumes of Fanaticism

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  • Mon, Oct 28, 2019 - 5:04pm

    #3
    ezlxq1949

    ezlxq1949

    Status Bronze Member (Offline)

    Joined: Apr 29 2009

    Posts: 258

    3+

    Fires In California: sympathy from Australia

    Really bad situation for everyone concerned. Recently we had a spate of bad fires, in unusual places — edge of a rainforest! — and unusually early. Spring has only just begun.

    I can empathise, but the California fires seem hgely worse than anything we’ve had. May none of the firefighters be injured, no-one get lost in the smoke and embers, as much property as possible be saved, and lessons learnt for the future.

    And may The System stop destroying the biosphere for profit.

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  • Mon, Oct 28, 2019 - 5:49pm

    #4
    robie robinson

    robie robinson

    Status Gold Member (Offline)

    Joined: Aug 25 2009

    Posts: 893

    6+

    And may The System stop

    destroying the biosphere for profit.

    amen

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  • Mon, Oct 28, 2019 - 6:11pm

    Reply to #4

    westcoastjan

    Status Bronze Member (Offline)

    Joined: Jun 04 2012

    Posts: 186

    1+

    exponential amen Robie – if only prayers and intentions worked…

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  • Mon, Oct 28, 2019 - 11:08pm

    #5
    Time2help

    Time2help

    Status Platinum Member (Offline)

    Joined: Jun 08 2011

    Posts: 2272

    2+

    Chile: The heart-stopping moment a soprano breaks the martial law

    The moment soprano Ayleen Jovita Romero defies the silence curfew, imposed under martial law by the government of Sebastián Piñera in Chile and sings the song “El derecho de vivir en paz”, (The right to live in peace) by Victor Jara.

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