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    Daily Digest 12/4 – U.S. Stock Market ‘Will Get Crushed’ In Next Recession, Is Holiday Overeating Slowly Killing Us?

    by Daily Digest

    Wednesday, December 4, 2019, 5:17 AM

Economy

Is holiday overeating slowly killing us? (Saxplayer00o1)

The overeating and overdrinking that typically takes place between the middle of November and New Year is a prime driver of the obesity epidemic that now kills more Americans than smoking, according to this scientific survey published in the British Medical Journal

Column: Twitter exchange with Cook County assessor sums up outrage and exodus: Tax hikes are paying for debt, not services. (Saxplayer00o1)

Acquiring debt is too cavalier a process in most government spending bills. The state’s $45 billion capital spending plan, approved last spring, includes money toward a highway interchange for a Peotone airport, pickleball courts, dog parks and bike paths. Meanwhile the state is sitting on a pile of $5.8 billion in bills it cannot pay, and its combined unfunded pension liability climbed recently to $137 billion.

Global Bank Job Cull Exceeds 70,000 in 2019 With UniCredit Cuts (Saxplayer00o1)

UniCredit SpA’s plan to eliminate 8,000 jobs is pushing cuts announced by banks this year past 73,000, almost all of them in Europe, where negative interest rates and a slowing economy force lenders to slash costs.

Japan Preparing $120 Billion Stimulus Package to Bolster Fragile Economy (Saxplayer00o1)

Such spending could strain Japan’s coffers – the industrial world’s heaviest public debt burden, which tops more than twice the size of its $5 trillion economy.

Pimco Joins Chorus of Negative Rate Detractors as Backlash Grows (Saxplayer00o1)

In an attempt to boost their returns, investors are chasing riskier assets which might prove to be harder to sell. That’s a particular worry for pension funds, which are often required by law to guarantee a certain level of payments to retirees. Pimco warned of instability and potential capital injections if they fail to deliver.

Jeffrey Gundlach: The US stock market ‘will get crushed’ in the next recession (Adam)

For several reasons, Gundlach warned that pattern isn’t likely to last forever. He added that investors should consider a pattern he highlights in his “chart of the year,” which divides the world into four regions — the United States, Japan, Europe, and Emerging Markets — and looks at the major stock market indices.

They Saved the Worst for Last: Why Trump’s Impending December Tariffs on China Should Be Rolled Back (edelinski)

No serious deal is in sight on the complaints that initially fueled the trade war, especially China’s violations of American intellectual property rights. But the December tariff round would largely hit products designed and marketed by multinational firms, mostly with components from the United States and its allies, and assembled in non-Chinese-owned factories.

Wind turbines are neither clean nor green and they provide zero global energy (Boomer41)

Here’s a quiz; no conferring. To the nearest whole number, what percentage of the world’s energy consumption was supplied by wind power in 2014, the last year for which there are reliable figures? Was it 20 per cent, 10 per cent or 5 per cent? None of the above: it was 0 per cent. That is to say, to the nearest whole number, there is still no wind power on Earth.

Russia Ignores OPEC Commitment Two Weeks Before Landmark Meeting (Michael S.)

Russia’s non-compliance extending into November could further complicate talks next week. Russia is the key ally of OPEC and its de facto leader Saudi Arabia in the pact, but it has been regularly exceeding its cap. The Saudis, for their part, are going the extra mile by cutting 400,000 bpd more than they are expected to.

Anthracnose alert: How bacteria prime fifth-biggest global grain crop against deadly fungus (newsbuoy)

But once the fungus has truly invaded its host, it switches from unwanted parasite to wholesale destroyer. As if a switch has been flicked, it starts demolishing the structural supports and cells of the plant. This way the fungus feeds its ravenous appetite and gets ready to procreate.

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4 Comments

  • Wed, Dec 04, 2019 - 4:59pm

    #1

    Chris Martenson

    Status Platinum Member (Offline)

    Joined: Jun 07 2007

    Posts: 4796

    6+

    NYTimes bias

    I like it when people break down the obvious bias in the MSM.  This is a good breakdown of one such effort:

    [Note: If you ‘right click’ you can open the image in a new tab, thereby expanding it to readable size]

    Those two contrasting ‘bios’ at the bottom are just a bit too over-the-top obvious, I think.  Very counterproductive for a person like myself.  I am now hostile to the forced interpretations of the NYTimes and find myself reflexively in opposition to their take of things here.

    Of course, I’ve been that way since Judith “aluminum tubes” Miller.

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  • Wed, Dec 04, 2019 - 5:28pm

    #2

    sand_puppy

    Status Platinum Member (Offline)

    Joined: Apr 13 2011

    Posts: 2001

    2+

    Wow. Just Wow.

    Great to have this skillful use of propaganda by the “authoritative” NYT pointed out so clearly.

    My other favorite way of telling others what to think.

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  • Thu, Dec 05, 2019 - 2:18am

    #3

    sand_puppy

    Status Platinum Member (Offline)

    Joined: Apr 13 2011

    Posts: 2001

    3+

    The oligarchy that controls "sick care" and Big Pharma

    The Oligarch Takeover of US Pharma and Healthcare – And the Resulting Human Crisis

    by Jon Hellevig for The Saker Blog

    You may have wondered why the EpiPen costs $600 while the ingredients in the simple injection device cost less than $1.   It is due to the oligarchical control of every layer of the healthcare industry.    This post is excerpted from The Saker post linked here and is based on a paper by the Awara Accounting (source)

    Almost everyone here on PP is aware of the mechanism of Regulatory Capture (where an industry gets “its people” assigned to the government agency that regulates that same industry).

    We are also familiar with the situation where a single investment corporation owns two competitors.  The result is that true competition ceases.

    And we are familiar with laws that limit competition, such as the Bush era law that prohibits Medicare from seeking competitive pricing (something done in every other western nation).

    So here is a new one:  Horizontal Shareholding which masks the concentration of power (oligarchic control) from the casual observer.

    Horizontal Shareholding

    Horizontal shareholding is a way that a single clan of oligarchic investors conceal their consolidated control.  For example, Vanguard and BlackRock are the two leading investors in almost every layer of the healthcare system (hospitals, insurance companies, pharmaceutical corporations, pharmacy benefits managers, retail pharmacies, physician groups, etc).

    But Vanguard’s major investor is BlackRock.

    And BlackRock’s major investor is Vanguard.

    Another of the top 5 investors in sick care is State Street.  State Street is owned by BlackRock and Vanguard.

    Another of the top 5 investors is Bank of America.  But Bank of America’s major owners are BlackRock, Vanguard and State Street.

    Who are the biggest owners of BlackRock?  Well that would be Vanguard and PNC Financials (which is owned by Vanguard and BlackRock).

    An example from Pharmaceutical manufacturing:

    Northern Trust is closely associated with the Big Three investors having Vanguard as its biggest shareholder, BlackRock as second, Wellington, fourth, and State Street as fifth. Wellington, in turn, is an investment vehicle which seems to be closely related to Vanguard. Bank of America is basically also a conduit of the Big Three investors, having BlackRock, Vanguard, and State Street as second, third, and fourth largest owners….

    The same horizontal shareholding is seen with the health insurance companies.

    For example.  my own outrageously expensive insurance company is Anthem.  It is owned by BlackRock, Vanguard, T. Rowe Price (whose principle investors are BlackRock and Vanguard) and State Street (whose principle investors are Vanguard and BlackRock).

    What about drug wholesalers?

    Concluding remarks

    The end result is that today a close-knit oligarchy controls all major corporations and most of the US economy. Nowhere is this ownership concentration and its pernicious effects so visible as in the pharma and healthcare industries.

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  • Thu, Dec 05, 2019 - 5:51am

    #4
    Helix

    Helix

    Status Member (Offline)

    Joined: Sep 20 2008

    Posts: 60

    1+

    Re "Is holiday overeating slowly killing us?"

    Catchy tag line, but of course this is nowhere near the crux of the matter.  It’s the daily routines that matter.

    Americans are subjected to foods having poor nutritional quality and excessive carbohydrate content.  They generally get insufficient activity, and a fair chunk of the activity they do get is of the “weekend warrior” variety that lends itself as much to injury as it does to fitness, and does very little for weight control.  And many are chronically sleep-deprived, often as a result of excessive exposure to media, which is associated with late-night snacking and consumption of high-sugar foods during the day.

    Weight control is simple, but American society works against it on many levels.  Feasting exists in virtually all cultures, and, yes, perhaps people eat and drink too much during these occasions.  But the real question is, why to the excess pounds stay with us?  We don’t feast all year.

    Or do we?

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