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    Daily Digest 12/8 – Profiting Off Mistrust, 2017 Euro Crisis ‘Almost Certain’

    by DailyDigest

    Thursday, December 8, 2016, 2:32 PM

Economy

Profiting off Mistrust: the Highs and Lows of News Media (Yoxa)

The most viewed event in the 2015 campaign was the first Republican debate, attracting nearly 24 million viewers (about seven percent of the population) — vastly more than comparable primary debate turnout in recent years. The first general election debate broke over 80 million in viewers. Most of the attention has centered around the bombastic campaign rhetoric of Donald Trump: Every program that Trump has appeared on has benefitted financially — the Fox News and CNN debates were the most watched in each of those network’s histories, late-night talk show hosts Stephen Colbert, Jimmy Fallon and Jimmy Kimmel each scored their most watched shows ever with Trump as a guest; Saturday Night Live, despite the controversy and protest, considered the decision to invite Trump as the week’s celebrity guest ratings gold.

Stemming The Tide Of Fake News (jdargis)

Journalists Sheera Frenkel and Terrence McCoy discuss their investigations into the rise of fake news, the people behind it, the people who share it and why it went viral. Terrence, Social Issues Reporter for The Washington Post, wrote, “For the ‘new yellow journalists,’ opportunity comes in clicks and bucks,” and Sheera, cybersecurity correspondent for BuzzFeed News, has written a number of articles on fake news, including, “Germany Is Fighting Fake News On Facebook And Wants Europe Along For The Ride” and “Renegade Facebook Employees Form Task Force To Battle Fake News.”

David McWilliams: ‘It is almost certain that there will be another euro crisis in 2017’ (Cornelius999)

Italy is not Greece. Italy is the third-largest economy in the eurozone. Italy is the second-largest manufacturing nation in the EU after Germany. Italy is the largest debtor in Europe. The third-largest Italian bank is irredeemably bankrupt. Italy has no government and the people who are likely to win the next election want to take Italy out of the euro and replace the euro with their own currency, the lira.

Snowden leaks reveal NSA snooped on in-flight mobile calls (jdargis)

GCHQ and the NSA intercepted the signals as they were sent from the satellites to the ground stations that hooked into the terrestrial GSM network. Initially, coverage was restricted to flights in Europe, the Middle East, and Africa, but the surveillance programme was expected to go global at the time the presentation was made.

5 Potential Offshore Traps You Should RUN From (Taki T.)

It’s offshore; therefore, it’s tax-free. Just because you place your funds overseas –a perfectly legal thing to do – does not, per se, provide compliant tax avoidance in the country of your tax residence. If an advisor suggests that you needn’t pay taxes for an offshore structure, because they don’t charge any taxes on your capital gains or income, be very careful. If in doubt, RUN!

Permian – Hottest Oil & Gas Zip Codes, Or Dangerous Bubble? (Josh O.)

The big question remaining to be seen is whether these values are justified or whether transactions are being pushed higher and higher by use of “comps” that are not truly comparable, creating a dangerous bubble, especially for non-diversified buyers in non-core areas.

Trump win opens way for China to take climate leadership role (jdargis)

“Proactively taking action against climate change will improve China’s international image and allow it to occupy the moral high ground,” Zou Ji, deputy director of the National Centre for Climate Change Strategy and a senior Chinese climate talks negotiator, told Reuters.

Zou said that if Trump abandons efforts to implement the Paris agreement, “China’s influence and voice are likely to increase in global climate governance, which will then spill over into other areas of global governance and increase China’s global standing, power and leadership.”

Stephen Hawking: This Is The Most Dangerous Time For Our Planet (jdargis)

The concerns underlying these votes about the economic consequences of globalisation and accelerating technological change are absolutely understandable. The automation of factories has already decimated jobs in traditional manufacturing, and the rise of artificial intelligence is likely to extend this job destruction deep into the middle classes, with only the most caring, creative or supervisory roles remaining.

Gold & Silver

Click to read the PM Daily Market Commentary: 12/7/16

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Article suggestions for the Daily Digest can be sent to dd@peakprosperity.com. 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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