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    Daily Digest 12/1 – The New Labor Wars, Great Barrier Reef Suffers Worst-Ever Bleaching

    by DailyDigest

    Thursday, December 1, 2016, 3:30 PM


Home Prices Recover Ground Lost During Bust (Adam)

U.S. home prices have climbed back above the record reached more than a decade ago, bringing to a close the worst period for the housing market since the Great Depression and stoking optimism for a more sustainable expansion.

How to protect yourself from a World Financial Crisis? (Jim R.)

A world financial crisis is made up of many moving parts. Some will occur at the same time others will occur years later. Unlike what many think, It is not delivered on a single day, but through a thousand hammer blows. The final outcome will only be visible late down the path of no return. Recognizing each step towards a financial crisis is a skill that will enable you to see the big picture and read beyond the headlines.

Jim Rogers: A Crisis ‘Worse Than Anything You’ve Seen In Your Lifetime’ (Herman J.)

Jim Rogers co-founded the Quantum Fund with George Soros in 1973, helping to steer the fund to a 4200% return before “retiring” at age 37. He is considered to be one of the greatest investors of all time. Rogers has made two record-setting journeys – once by motorcycle and once by car – and is in the Guinness Book of World Records for doing so. In between his frequent travels, he has served as a professor at Columbia University, started his own commodity index and is a frequent media commentator worldwide.

Trump is meeting with an ex-bank CEO who wants to abolish the U.S. Federal Reserve (Adam)

“When the Fed is radically changing the money supply, distorting interest rates, and over-regulating the financial sector, it makes rational economic calculation difficult,” wrote Allison. “Markets do form bubbles, but the Fed makes them worse.”

Allison, in the same paper, also suggested that the government’s practice of insuring bank deposits up to $250,000 should be abolished and the US should go back to a banking system backed by “a market standard such as gold.”

The New Labor Wars (Tiffany D.)

But what’s fascinating is the rebound in work stoppages this year. With two months left to go in 2016 (the BLS hasn’t compiled November’s data yet), the U.S. has already experienced 13 strikes.

An interesting perspective on the War on Cash (thc0655)

And former US Treasury Secretary Larry Summers published an article last week stating that “nothing in the Indian experience gives us pause in recommending that no more large notes be created in the United States, Europe, and around the world.”

In other words, despite the India chaos, Summers thinks we should still curtail the $100 bill.

When It Comes to Fake News, the U.S. Government Is the Biggest Culprit (Aaron M.)

There’s the garden variety fake news that is not really “news” so much as it is titillating, tabloid-worthy material peddled by anyone with a Twitter account, a Facebook page and an active imagination. These stories run the gamut from the ridiculous and the obviously click-baity to the satirical and politically manipulative.

Anyone with an ounce of sense and access to the Internet should be able to ferret out the truth and lies in these stories with some basic research. That these stories flourish is largely owing to the general gullibility, laziness and media illiteracy of the general public, which through its learned compliance rarely questions, challenges or confronts.

Will Trump Send Electricity Bills Soaring?

In New England, where power prices are extremely high compared to national averages, Canadian exports would help cut costs for consumers. Canadian exporters are attempting to tap this market through six new transmission line projects that are in various stages of planning and construction.

It’s unclear if all of the projects will go through because of local opposition to power lines and a preference by some area residents for other sources of power. Still, with retail rates in some areas of New England as high as $0.26 per kwh, it is clear this is an opportunity.

Coinbase ordered to turn over customers' records to IRS (Adam)

"We look forward to opposing the DOJ's request in court after Coinbase is served with a subpoena," the San Francisco-based exchange said in a statement. "As we previously stated, we remain concerned with our US customers' legitimate privacy rights in the face of the government's sweeping request."

Climate Change: A Matter Of Degree (5280)

In Colorado, the trend is much the same. Since 1980, the average daily high temperature has jumped by two to 2.5 degrees Fahrenheit. “The warm years that we’re having now are all warmer than almost any other year we’ve ever measured,” says state climatologist Nolan Doesken. That temp increase is in large part the result of the amount of carbon dioxide we’ve pumped into the atmosphere, which serves as a kind of blanket around the world (see “Carbon Footprints” below). And unless we invent some magical CO2-sucking machine, Doesken expects Colorado to continue to warm. The question is: by how much?

Australia's Great Barrier Reef suffers worst ever coral bleaching (Adam)

"We've seen three bleaching events (in the reef) and each time it can be explained by where the warm water was," the report's author, ARC Center of Excellent for Coral Reef Studies Director Terry Hughes, told CNN.

"In the north, the summer temperatures got up to two degrees above the normal maximum and that caused severe bleaching," he said.

Gold & Silver

Click to read the PM Daily Market Commentary: 11/30/16

Provided daily by the Peak Prosperity Gold & Silver Group

Article suggestions for the Daily Digest can be sent to 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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  • Thu, Dec 01, 2016 - 2:28pm

    robie robinson

    robie robinson

    Status Gold Member (Offline)

    Joined: Aug 25 2009

    Posts: 851


    That is, Bluestems Aethling Quinn, our 4.5mos old Suffolk Draft filly is 13.3 hands and 690lbs. She will be a big girls. Will post pictures when I gain the ability.

    proud , robie

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  • Thu, Dec 01, 2016 - 3:56pm



    Status Silver Member (Offline)

    Joined: Jul 30 2009

    Posts: 2923

    Global Bonds Suffer Worst Monthly Meltdown as $1.7 Trillion Lost

    BOJ policymaker pledges to maintain huge bond buying

    Reuters9 hours ago
    "Our yield curve control is operating smoothly," he told reporters later in the day, adding that bond yields were moving roughly in line with the central bank's …

    Fitch: Negative-Yielding Debt Falls Sharply Post Election

    Business Wire (press release)20 minutes ago
    Rising yields have driven down the amount of negative-yielding debt outstanding, with the total falling more than $1 trillion in less than a month. Fitch calculates …

    Global Bonds Suffer Worst Monthly Meltdown as $1.7 Trillion Lost

    Bloomberg11 hours ago
    … to dump debt that was offering near-record-low yields and pile into stocks. … November's rout wiped a record $1.7 trillion from the global index's value in a …

    Delinquencies Rise on Growing Volume of Subprime Auto Loans

    Wall Street JournalNov 30, 2016
    The report showed total household debt grew to $12.35 trillion in the third quarter, … quickly for non-housing debt, but little or no growth in mortgage balances.

    James Quintero: Texas' $61 billion pension problem

    MyStatesman.com9 hours ago
    The past year alone has seen public pension debt skyrocket by billions. … liabilities at $60.2 billion, a difference of about $1 billion compared to the current total.

    Pension funding deficits 'nearly a third of uk gdp'

    Daily Mail – ‎15 hours ago‎
    Britain's mammoth funding gap for gold-plated company pensions stands at nearly a third of the country's economic output despite a £50 billion boost in November. A report by PricewaterhouseCoopers shows the deficit for so-called defined benefit

    S&P warns CT: Surging debt costs could lower bond rating

    The CT Mirror11 minutes ago
    While legislators learned Wednesday how surging debt costs would hamper the next state budget, a major Wall Street credit rating agency downgraded its …

    Providence Lowers Pension Forecast to 8% – City Treasurer Calls …

    GoLocalProv16 hours ago
    A report conducted by The Segal Group showed that in Fiscal Year 2015, the city's pension system was 28% funded with $354 million in assets and an unfunded …

    Dallas Police & Fire asked to suspend lump-sum DROP payments on liquidity concerns

    Pensions & Investments – ‎18 hours ago‎
    At the end of 2015, the pension fund reported about $6.9 billion in unfunded pension liabilities, a 40% increase from the previous year, due primarily to realized private equity and real estate losses, according to Fitch Ratings. Prior to the increase

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  • Thu, Dec 01, 2016 - 6:56pm



    Status Bronze Member (Offline)

    Joined: Apr 29 2009

    Posts: 176

    Great Barrier Grief

    I commented elsewhere on this. The misleaders in Oz simply can't bring themselves to believe that the Reef is in danger. If it is, technology will fix it because the market god will call forth someone somewhere able to save it. If no-one appears, well, that means that the market god has decreed the Reef is not to be saved, so now we obey the next command from the market god and move on towards the paradise on earth that the market god has promised us.

    The market god would never lie to us, would it? Never promise something it can't deliver, would it? Surely not. Let such doubters be anathema.

    So clear that our misleaders regard the environment as an abstraction, capable of coping with endless impositions.

    Max Planck wearily observed that science advances one funeral at a time. There are changes taking place in the field of economics, especially now that the younger generation of economics students is suspicious of classical economic theory, but it'll take a few decades for the profession to have advanced one funeral at a time beyond its current doctrinaire blindness. Do we have that much time?

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  • Thu, Dec 01, 2016 - 9:24pm



    Status Silver Member (Offline)

    Joined: Jul 30 2009

    Posts: 2923

    Countdown to $20 trillion

    The Daily History of the Debt Results

    Historical returns from 11/01/2016 through 11/30/2016

    The data for the total public debt outstanding is published each business day. If there is no debt value for the date(s) you requested, the value for the preceding business day will be displayed.

    ( Debt Held by the Public vs. Intragovernmental Holdings )

    Date Debt Held by the Public Intragovernmental Holdings Total Public Debt Outstanding
    11/01/2016 14,284,843,453,012.60 5,475,210,674,033.23 19,760,054,127,045.83
    11/02/2016 14,287,092,579,497.98 5,482,529,099,054.74 19,769,621,678,552.72
    11/03/2016 14,320,172,405,570.40 5,469,963,924,432.79 19,790,136,330,003.19
    11/04/2016 14,321,488,687,553.88 5,469,278,544,758.06 19,790,767,232,311.94
    11/07/2016 14,322,368,992,722.54 5,474,220,508,053.54 19,796,589,500,776.08
    11/08/2016 14,323,406,201,380.96 5,482,833,657,225.08 19,806,239,858,606.04
    11/09/2016 14,324,109,031,573.47 5,469,588,130,730.35 19,793,697,162,303.82
    11/10/2016 14,371,392,856,952.46 5,469,181,434,194.55 19,840,574,291,147.01
    11/14/2016 14,370,898,566,705.93 5,471,275,383,163.65 19,842,173,949,869.58
    11/15/2016 14,371,170,566,083.79 5,495,948,465,969.49 19,867,119,032,053.28
    11/16/2016 14,372,638,397,082.72 5,485,189,463,602.89 19,857,827,860,685.61
    11/17/2016 14,406,421,117,922.46 5,490,729,852,964.41 19,897,150,970,886.87
    11/18/2016 14,406,543,875,848.20 5,489,426,480,230.83 19,895,970,356,079.03
    11/21/2016 14,406,490,862,702.80 5,492,513,218,790.70 19,899,004,081,493.50
    11/22/2016 14,407,162,989,714.94 5,500,377,749,799.58 19,907,540,739,514.52
    11/23/2016 14,407,388,206,277.32 5,490,606,141,423.18 19,897,994,347,700.50
    11/25/2016 14,431,144,367,664.73 5,496,973,825,497.82 19,928,118,193,162.55
    11/28/2016 14,431,113,155,629.56 5,498,071,005,722.57 19,929,184,161,352.13
    11/29/2016 14,431,428,071,395.58 5,499,270,578,581.87 19,930,698,649,977.45
    11/30/2016 14,443,700,147,858.19 5,504,364,549,387.56 19,948,064,697,245.75


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  • Fri, Dec 02, 2016 - 2:39am

    Reply to #4


    Status Platinum Member (Online)

    Joined: Jun 07 2007

    Posts: 4469

    Another month another $188 billion


    The Daily History of the Debt Results

    Historical returns from 11/01/2016 through 11/30/2016


    Another month another $188 billion…keep that up and pretty soon we're going to be talking about real money.

    Seriously, this whole idea that we can just keep borrowing at a rate faster than underlying authentic GDP creation is just broken.

    And by authentic, I mean that all of the financial engineering and other riggings are not really, well, real.

    After all, what's the real contribution of selling someone an auto on a loan with a 115% LTV ratio…or using massive debt leverage to combine two companies?

    The debt influences have to be stripped out and never are.  Steve Keen, where are you?

    At any rate, someday the $20+ trillion mountain is going to strike people as a very bad idea, not "just the way things are."

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  • Fri, Dec 02, 2016 - 6:35am



    Status Platinum Member (Offline)

    Joined: Jun 08 2011

    Posts: 2221


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