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    Daily Digest 12/20 – Saudi Arabia “Going Bankrupt,” L.A.’s Housing Crisis Hits Hollywood

    by DailyDigest

    Thursday, December 20, 2018, 3:02 PM


Economy

U.S. troops to be pulled out of Syria quickly, White House says (TS)

The step is the latest twist in a years-long effort by two administrations to defeat the militants in Syria and end the country’s long civil war. The conflict has made Syria a cauldron for terrorist threats and set the stage for a proxy battle that has included forces backed by the United States, Turkey, Iran and Russia. Since 2015, Moscow’s military support has been crucial in helping Assad turn the war in his favor.

“Saudi Arabia Is Going Bankrupt” Taleb Exclaims After Seeing Kingdom’s Latest Budget (dcm)

During the unveiling of the budget, Saudi King Salman said his country will continue paying public sector cost-of-living allowances for citizens and will boost spending to stimulate growth even as Saudi Arabia toils to close its deficit, which it won’t do yet again as the kingdom forecasts a 6th consecutive budget deficit in a row, estimated to hit $35 billion in 2019.

Federal Reserve hikes interest rates, but nods to slowing growth (TS)

Fed policymakers now expect to raise rates just twice next year, instead of their previous forecast of three increases. In its latest policy statement, the Fed’s rate-setting body said it will “continue to monitor global economic and financial developments and assess their implications for the economic outlook.”

Tony Robbins: In 5-10 years, we may need to give people free cash (Sparky1)

Technological advancements may make necessary some sort of a universal basic income. Here’s why Tony Robbins believes that handouts of cash could be needed in the near future.

Stockton’s Universal Basic Income Program Moves Forward (Sparky1)

Dr. Kelvin Jasek Rysdahl with Cal State Stanislaus says few guaranteed income studies have been done but, for the most part, the impact is encouraging.

“So people losing jobs and not being able to find good paying jobs without having a lot of education or skills, so this is a way to address that issue,” Rysdahl said.

L.A.’s Housing Crisis Hits Hollywood: The Entertainment Workers Living in Their Cars (thc0655)

Even by Los Angeles standards, Noelle spends a lot of time worrying about parking. A writers room production assistant for a major streamer and script reader for a premium cable network, Noelle wakes up at 6 a.m. on weekdays to secure a spot close to her jobs in West L.A. After work, she moves her white, unassuming Ford Transit to another spot, carefully chosen to be located in a non-residentially zoned area without nightly parking restrictions and far away from any schools, daycare facilities or parks. She is constantly rotating these “day spots” and “night spots,” as she calls them, so as not to annoy neighbors or attract too much attention. These days, Noelle jokes, she’s more worried about a cop knocking on her window than getting “murdered or attacked.”

Shooting of Criminal by Citizen NOT Reported by Police & NOT Unusual (thc0655)

Studies of media reports show that justified homicides by non-police are reported in the media at least five times more often than are recorded in the UCR. There are numerous structural reasons for this disparity. The UCR has a very restrictive definition of justified homicide. Recording data in the UCR is voluntary, for starters.

Advil meet Excedrin: Pfizer and GSK are merging their consumer healthcare businesses (Sparky1)

Pfizer has been looking to offload its consumer healthcare business, saying last year that it might either sell the business outright or spin it off as a separately traded stock. Pfizer makes most of its billions from its core prescription drugs unit, which has produced the cholesterol medication Lyrica and erectile dysfunction pill Viagra.

Up to 319 people dead as Congo Ebola outbreak worsens (Sparky1, thc0655)

North Kivu, which includes the cities of Beni, Kalunguta and Mabalako, remains the epicenter of the outbreak, though cases have been reported in neighboring Ituri province, according to the WHO. The two provinces are among the most populated in the nation and border Uganda, Rwanda and South Sudan.

Ann Coulter: Gutless President In Wall-Less Country (thc0655)

It is now crystal clear that one of two things is true: Either Trump never intended to build the wall and was scamming voters all along, or he has no idea how to get it done and zero interest in finding out.

He sacrifices every opportunity to make the wall happen.

Energy Transition Under Fire As Power Bills Soar (Michael S.)

Denmark was one of the first countries in the EU to seriously start planning for the energy transition. Early planning, broad societal support, and political will have fostered a strong domestic energy industry. Danish company Vestas is the largest wind turbine producer in the world with approximately 16 percent of the global market share. The energy transition is not cheap which requires the allocation of precious resources that could be spent otherwise. The rising energy bill, however, threatens to derail the process in several countries.

Gold & Silver

Click to read the PM Daily Market Commentary: 12/19/18

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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