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    Daily Digest 12/27 – Transition Into Economic Night, How Europe Outsources Suffering as Migrants Drown

    by DailyDigest

    Thursday, December 27, 2018, 2:49 PM


Economy

Migrant child dies in Border Patrol custody; second in a month (TS)

Felipe’s death came less than three weeks after another migrant child, Jakelin Caal Maquin, died after being detained by border agents. The 7-year-old Guatemalan girl died on December 8 after reportedly experiencing dehydration and a high fever.

Her death provoked scathing criticism of immigration authorities by Democrats, who blamed it on President Trump’s “cruel and inhumane” immigration agenda.

‘It’s an Act of Murder’: How Europe Outsources Suffering as Migrants Drown (Sparky1)

This confrontation at sea was not a simplistic case of Europe versus Africa, with human rights and rescue on one side and chaos and danger on the other. Rather it’s a case of Europe versus Europe: of volunteers struggling to save lives being undercut by European Union policies that outsource border control responsibilities to the Libyan Coast Guard — with the aim of stemming arrivals on European shores.

The Sea Watch vs Libyan Coast Guard Case (Sparky1)

Based on these elements, the Mare Clausum report argues that this particular incident is paradigmatic of the new, drastic measures that have been implemented by Italy and the EU to stem migration across the central Mediterranean. This multilevel policy of containment operates according to a two-pronged strategy which aims, on the one hand, to delegitimise, criminalise and ultimately oust rescue NGOs from the central Mediterranean; on the other, to provide material, technical and political support to the LYCG so as to enable them to intercept and pull back migrants to Libya more effectively. This undeclared operation to seal off the central Mediterranean is what we refer to as Mare Clausum.

Dow soars 1,086 points in a miraculous comeback (Sparky1)

“Investors went bargain shopping the day after Christmas, where stocks just got too cheap relative to earnings, future earnings, any reasonable assessment of earnings,” said Chris Rupkey, managing director of MUFG. “The coast is clear, back up the truck, investors are saying enough already, the world is not ending.”

Hussman Funds: The Fast And The Furious (Aaron M.)

While we don’t presently observe conditions to indicate a “buying opportunity” or a “bottom” from a full-cycle standpoint, we do observe conditions that are permissive of a scorching market rebound, even if it only turns out to be the “fast, furious, prone to failure” variety. I say “permissive” because there is no certainty about a rebound, and we wouldn’t dream of removing our safety nets against a market decline that I continue to expect to draw the S&P 500 toward the 1000 level by the completion of this cycle. Still, we’ve prepared for the possibility of unusual volatility here, most likely including one or more daily moves in the range of 4-6%, potentially to the upside. Yes, that means one or more daily moves on the order of 100-150 points on the S&P 500 and 900-1300 points on the Dow. You think I’m kidding.

Transition Into Economic Night (GE Christenson)

The U.S. economy runs on credit, corporate debt for stock buybacks, student loans, mortgage debt, auto debt and credit card debt. Slowing a 60 year trend is an important transition. Credit growth slows and the non-financial economy weakens, poverty increases, homelessness rises, drug addiction soars and political polarization goes ballistic. Now is a time for transition. Note: The national debt growth rate did not materially change after the 2008 crisis. Politicians will spend.

Trump Urges Buying the Dip After Stocks Sink on D.C. Dysfunction (Sparky1)

He has discussed firing Federal Reserve Chairman Jerome Powell over the central bank’s interest rate increases, which Trump and his allies blame for the market plunge, though he concluded over the weekend it wasn’t within his power, according to Treasury Secretary Steven Mnuchin. The latest run of selling has come amid White House turmoil led by Trump and a gridlocked U.S. government.

What Trump’s Syria decision means on the front lines of the fight against the Islamic State (Sparky1)

This willingness to fight and die under U.S. guidance has made the Kurdish-led forces unique allies. With U.S. air support, SDF fighters destroyed the Islamic State’s capital of Raqqa and all its major strongholds. The Kurds and their Syrian allies paid a severe price: They have suffered about 4,000 dead and 10,000 wounded since 2014. Over that same period, the United States lost only three soldiers in Syria, according to a U.S. military spokesperson.

Saturn in Purva Ashadha (newsbuoy)

On April 23rd , Ketu will enter Purva Ashadha, joining Saturn there for the rest of the year. This will increase the pressure on all of the above concerns related to water and energy. This transit is not all bad, but it does place the weight of two malefic planets on the energies of Purva Ashadha. Mars will join the party, placing a particularly negative aspect on Ketu and Saturn between April and June. For the world in general, that part of the year may be more volatile on a number of levels, including politics, the environment, military actions, accidents, and acts of violence. It will also be a preamble to the more important conjunction of Jupiter and Saturn that occurs in 2020.

Meet Vaclav Smil, the man who has quietly shaped how the world thinks about energy (debu)

Now, as the world faces the daunting challenge of trying to curb climate change by weaning itself from fossil fuels, Smil’s work on energy transitions is getting more attention than ever. But his message is not necessarily one of hope. Smil has forced climate advocates to reckon with the vast inertia sustaining the modern world’s dependence on fossil fuels, and to question many of the rosy assumptions underlying scenarios for a rapid shift to alternatives. “He’s a slayer of bullshit,” says David Keith, an energy and climate scientist at Harvard University.

Japan to Resume Commercial Whaling, Defying International Ban (TS)

In recent years, Japan has had an annual quota in the Antarctic of 333 minke whales, which in the 2017-18 hunting season included 122 pregnant females. As part of its withdrawal from the international commission, Japan will stop its annual hunts in the Antarctic and limit whalers to its own waters. Commercial whaling will resume in July, Mr. Suga said.

Gold & Silver

Click to read the PM Daily Market Commentary: 12/26/18

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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4 Comments

  • Thu, Dec 27, 2018 - 9:25am

    #1

    saxplayer00o1

    Status Silver Member (Offline)

    Joined: Jul 30 2009

    Posts: 2923

    ECB sees global economic slowdown in 2019

     

    ECB sees global economic slowdown in 2019

    Reuters-7 hours ago
    FRANKFURT (Reuters) – The global economy is set to slow down in 2019 and stabilize thereafter, the European Central Bank said on Thursday, while still …

    Asia debt defaults expected to rise

    The Straits Times-16 hours ago
    HONG KONG (BLOOMBERG) – A growing chorus of observers expect debt defaults in Asia will spread as weakening currencies and tighter liquidity leave riskier …

    China plagued by local government debt risks

    Asia Times-13 hours ago
    China plagued by local government debt risks …. governments isn’t known, but could be as high as 40 trillion renminbi (US$5.78 trillion),” the study revealed.

     

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  • Thu, Dec 27, 2018 - 9:23am

    #2

    thc0655

    Status Platinum Member (Offline)

    Joined: Apr 27 2010

    Posts: 1423

    First global warming. Now global calming?

    https://www.greentechmedia.com/articles/read/chinese-researchers-claim-global-wind-resources-are-dwindling#gs.=70C_Ms

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  • Thu, Dec 27, 2018 - 4:04pm

    #3

    cmartenson

    Status Platinum Member (Offline)

    Joined: Jun 07 2007

    Posts: 4475

    Great article on Vaclav Smil...

    Thanks for that Debu.
    I very much enjoyed that.  Let me give it a shout out here because Vaclav has shaped my thinking a lot over the years.

    Meet Vaclav Smil, the man who has quietly shaped how the world thinks about energy(debu)
    Now, as the world faces the daunting challenge of trying to curb climate change by weaning itself from fossil fuels, Smil’s work on energy transitions is getting more attention than ever. But his message is not necessarily one of hope. Smil has forced climate advocates to reckon with the vast inertia sustaining the modern world’s dependence on fossil fuels, and to question many of the rosy assumptions underlying scenarios for a rapid shift to alternatives. “He’s a slayer of bullshit,” says David Keith, an energy and climate scientist at Harvard University.

    Login or Register to post comments

  • Fri, Apr 05, 2019 - 11:45am

    Reply to #3
    cgolias

    cgolias

    Status Member (Offline)

    Joined: May 13 2011

    Posts: 34

    Podcast with Vaclav

    I mentioned it elsewhere, but you may not have seen, Chris. Vaclav is the single podcast guest I would like to see most as his work on energy, civilzation and transitions is unparalleled. It would be amazing if you could have him on. 

     

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