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    Daily Digest 2/18 – FL's Coming Real Estate Apocalypse, How to Make Negative Interest Rates Work

    by DailyDigest

    Monday, February 18, 2019, 8:08 AM

Economy

Cashing In: How to Make Negative Interest Rates Work (Alex M.)

When cash is available, however, cutting rates significantly into negative territory becomes impossible. Cash has the same purchasing power as bank deposits, but at zero nominal interest. Moreover, it can be obtained in unlimited quantities in exchange for bank money. Therefore, instead of paying negative interest, one can simply hold cash at zero interest. Cash is a free option on zero interest, and acts as an interest rate floor.

European markets mixed amid US-China trade deal hopes; Wirecard shares jump 12% (Thomas R.)

Meanwhile, soft drink bottler Coca-Cola HBC tumbled toward the bottom of the index. It comes after the company announced on Monday it would buy Serbian biscuit and confectionery maker Bambi for an enterprise value of 260 million euros ($294 million). Shares of the London-listed stock were under pressure during mid-morning deals.

The finance curse (Afridev)

Countries have fallen over themselves to attract financial corporates to their shores to ‘create wealth’. But recent studies have shown that financialization actually extracts wealth, hollows out an economy and drives inequality.

SpaceX job posts confirm Starship’s Super Heavy booster will be built in Texas (Thomas R.)

Most notably, SpaceX appeared to terminate a lease agreement it had held with the Port of Los Angeles for a large berth meant to be developed into a dedicated factory for BFR’s massive spaceship upper stage and booster, whose 9m (~30 foot) diameter would have been highly impractical to build somewhere that wasn’t either at the rocket’s launch site or directly adjacent to a port. With its headquarters in Hawthorne, CA (southwestern Los Angeles), SpaceX’s first choice was unsurprisingly the Port of LA, a location that would have allowed its 5000+ local employees to have seamlessly transferred to the BFR program without requiring highly disruptive relocations.

FCC: Nearly half of phone calls you get in 2019 will be ‘robocalls’ (Thomas R.)

The FCC issued a 15-page report Thursday that said upgrades in automated phone call prevention technology over the last two years have successfully targeted “unwanted calls.”

“No consumer wants to be bombarded by spoofed robocalls. They’re a waste of time at best and a scam at worst,” Pai said accompanying the report. “As this report makes clear, we’re steadfastly focused on addressing this serious problem.”

Two Diverging Worlds – Wealthy Nations Population and Demographic Declines…Poor Nation Growth No Substitute (thc0655)

This article will explain why despite this seemingly gargantuan population size and growth, it is the geographic and demographic distribution of that growth that deems further economic growth implausible (and more realistically ushers in the “Great Decline”). The demand of successively smaller waves of wealthy nation young adults presently entering the economy cannot be replaced by like sized poor nation young adults who average only 10% of the wealthy income per capita. Of course, this should offer some solace for those concerned about environmental and resource depletion issues, as these strains are set to ease.

CDC: Flu has sickened nearly 18M in U.S. this season (Thomas R.)

The CDC’s weekly report said 17.8 million cases of influenza have now been reported since October. Although the agency regards the 2018-2019 season as one of “low severity,” flu has been a factor in up to 19,100 deaths, 221,000 hospitalizations and 8.4 million outpatient medical visits. At least 34 pediatric deaths have been reported.

Orangutans make complex economic decisions (Thomas R.)

To test the ape’s tool-using smarts, scientists presented the orangutans with a choice involving two different treats: a lesser but immediately available treat, apple pieces, or a better treat, banana-pellets, requiring a bit of effort. To earn their favorite banana snack, the apes had to solve multidimensional tasks using tools made available to them by the researchers.

Brent dips, but still set for biggest first-quarter rise since 2011 (Thomas R.)

“Our numbers … do tell us that we are looking at the tightest H1 crude balance in many years and, as such, a certain degree of price support does simply make sense for the time being,” consultancy JBC Energy said in a note.

Keystone XL suffers another setback as judge blocks most work on the oil pipeline (Thomas R.)

The ruling is the latest blow in a series of defeats for the $8 billion project. The line would transport heavy crude from Alberta, Canada to Steel City, Nebraska, where it would link up with existing lines to transport oil supplies to Gulf Coast refineries.

Geoengineering Watch: Our Most Comprehensive Climate Engineering Presentation (Nevada Jack)

Climate engineering and weather warfare are ultimately one in the same. The ongoing atmospheric experiments taking place in our skies have a long history with many objectives and agendas being carried out, the equation is complex. If we are to have any chance of exposing and halting catastrophic global climate engineering operations, we must first have a clear understanding of the issue itself.

The disturbing hypothesis for the sudden uptick in chronic kidney disease (tmn)

Roberto Lucchini, an environmental and public health professor at Mount Sinai, who’s been studying the phenomenon, calls this the first epidemic that’s directly attributable to climate change. “It was not recognized before the rise in temperatures,” he said, “and the epidemic of these cases is currently observed in the countries that are more affected by [global warming] in the last decades,” from Central America to India and Southeast Asia.

Florida is drowning. Condos are still being built. Can’t humans see the writing on the wall? (back2basics)

Studies show that humans don’t respond well to abstract projections. We overvalue short-term benefits, such as driving SUVs, burning coal and building waterfront real estate. We choose these extravagances even though they impede beneficial long-term outcomes, such as saving threatened species, or reducing the intensity of climate change.

Hurricanes, droughts, and wildfires: How biopharma is girding for climate change (tmn)

“You really start to need to ask yourself and sort of reverse-engineer — what are you at risk to, what can you tolerate as a community, as an asset or a structure,” said William Sweet, an oceanographer with the National Oceanic and Atmospheric Administration, speaking specifically about the impact of even a small rise in sea-level in places prone to flooding. “Vulnerabilities that are exposed by today’s events, it’s important to document because those likely are going to be the same area that get exposed and are vulnerable.”

Time To Panic (jdargis)

In 2018, their circumspection began to change, perhaps because all that extreme weather wouldn’t permit it not to. Some scientists even began embracing alarmism — particularly with that United Nations report. The research it summarized was not new, and temperatures beyond two degrees Celsius were not even discussed, though warming on that scale is where we are headed. Though the report — the product of nearly 100 scientists from around the world — did not address any of the scarier possibilities for warming, it did offer a new form of permission to the world’s scientists. The thing that was new was the message: It is O.K., finally, to freak out. Even reasonable.

Gold & Silver

Click to read the PM Daily Market Commentary: 2/15/19

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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3 Comments

  • Mon, Feb 18, 2019 - 8:35am

    #1

    Chris Martenson

    Status Platinum Member (Offline)

    Joined: Jun 07 2007

    Posts: 4635

    Just so crazy it might work

    This is pretty funny, but it also says something about where we are in the bubble times too (and maybe more than a little about Sillicon Valley and how it’s so drunk on self-importance that it could not detect an in-its-face parody?).
    Here’s the set up:

    “Exactly 7 days before the October TEDx event in Oakland, the event organizer put out a call to Bay Area comedians to perform a 7-minute set at TEDx that weekend. Instead, I pitched him a character I’d been working on: a Frankenperson cobbled together from the stories of every out-of-touch startup founder and thought leader cliche I’d seen during my time in the tech industry — complete with brightly-colored blazer.
    He agreed. Though, in hindsight, I don’t think he knew what he was signing on for.
    Before my talk, titled “Every TED Talk Ever,” the emcee introduced me as Lindsey “Always Be Hustling” Quinn, but made no mention of it being a parody presentation. I thought the ridiculousness would be self-evident — after all, these were smart, ambitious tech insiders. Surely, they’d be in on the joke…
    So, off I went. I talked for 5 minutes straight without ever naming my startup, what we did, or saying anything of value. I used every cliche in the book. I photoshopped my head on a Winklevoss twin.
    But still, the insight-starved audience at TEDx Oakland clung to my every word. They shushed people who laughed. They nodded knowingly at the Warren Buffett quote hastily pasted over a stock image of a random old man.
    Afterward, a few people asked me the name of my startup. Some asked me “what I wanted people to take away” from my talk. A few savvy people told me it was hilarious.
    But, by and large, the majority of the audience thought I was just another privileged Ivy League 20-something who, through sheer confidence and self-importance, talked her way into raising $60 million.
    There’s probably a takeaway in there somewhere after all…”

    And the video:

    The last few minutes are completely worth it….

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  • Mon, Feb 18, 2019 - 10:11am

    #2
    Uncletommy

    Uncletommy

    Status Bronze Member (Offline)

    Joined: May 03 2014

    Posts: 524

    So, I opened my eyes and what did I see?

    . . .Things fall apart; the centre cannot hold;
    Mere anarchy is loosed upon the world,
    The blood-dimmed tide is loosed, and everywhere   
    The ceremony of innocence is drowned;
    The best lack all conviction, while the worst   
    Are full of passionate intensity. . . 
    The Second Coming – William Butler Yeats

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  • Mon, Feb 18, 2019 - 10:53am

    Reply to #2

    fionnbharr

    Status Bronze Member (Offline)

    Joined: Sep 27 2012

    Posts: 63

    The Leaden Echo and the Golden Echo

    Uncletommy,
    I know such place’ as this …
    With love,
    Finn

    THE LEADEN ECHO
    HOW to kéep—is there ány any, is there none such, nowhere known some, bow or brooch or braid or brace, láce, latch or catch or key to keep
    Back beauty, keep it, beauty, beauty, beauty, … from vanishing away?
    Ó is there no frowning of these wrinkles, rankéd wrinkles deep,
    Dówn? no waving off of these most mournful messengers, still messengers, sad and stealing messengers of grey?
    No there ’s none, there ’s none, O no there ’s none, 5
    Nor can you long be, what you now are, called fair,
    Do what you may do, what, do what you may,
    And wisdom is early to despair:
    Be beginning; since, no, nothing can be done
    To keep at bay 10
    Age and age’s evils, hoar hair,
    Ruck and wrinkle, drooping, dying, death’s worst, winding sheets, tombs and worms and tumbling to decay;
    So be beginning, be beginning to despair.
    O there ’s none; no no no there ’s none:
    Be beginning to despair, to despair, 15
    Despair, despair, despair, despair.
    THE GOLDEN ECHO
    Spare!
    There ís one, yes I have one (Hush there!);
    Only not within seeing of the sun,
    Not within the singeing of the strong sun, 20
    Tall sun’s tingeing, or treacherous the tainting of the earth’s air,
    Somewhere elsewhere there is ah well where! one,
    Oné. Yes I can tell such a key, I do know such a place,
    Where whatever’s prized and passes of us, everything that ’s fresh and fast flying of us, seems to us sweet of us and swiftly away with, done away with, undone,
    Undone, done with, soon done with, and yet dearly and dangerously sweet 25
    Of us, the wimpled-water-dimpled, not-by-morning-matchèd face,
    The flower of beauty, fleece of beauty, too too apt to, ah! to fleet,
    Never fleets móre, fastened with the tenderest truth
    To its own best being and its loveliness of youth: it is an everlastingness of, O it is an all youth!
    Come then, your ways and airs and looks, locks, maiden gear, gallantry and gaiety and grace, 30
    Winning ways, airs innocent, maiden manners, sweet looks, loose locks, long locks, lovelocks, gaygear, going gallant, girlgrace—
    Resign them, sign them, seal them, send them, motion them with breath,
    And with sighs soaring, soaring síghs deliver
    Them; beauty-in-the-ghost, deliver it, early now, long before death
    Give beauty back, beauty, beauty, beauty, back to God, beauty’s self and beauty’s giver. 35
    See; not a hair is, not an eyelash, not the least lash lost; every hair
    Is, hair of the head, numbered.
    Nay, what we had lighthanded left in surly the mere mould
    Will have waked and have waxed and have walked with the wind what while we slept,
    This side, that side hurling a heavyheaded hundredfold 40
    What while we, while we slumbered.
    O then, weary then why
    When the thing we freely fórfeit is kept with fonder a care,
    Fonder a care kept than we could have kept it, kept
    Far with fonder a care (and we, we should have lost it) finer, fonder 45
    A care kept.—Where kept? Do but tell us where kept, where.—
    Yonder.—What high as that! We follow, now we follow.—Yonder, yes yonder, yonder,
    Yonder.

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