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    Daily Digest 3/5 – The Original Corporate Raiders, Fighting The Plastic Bag Lobby

    by DailyDigest

    Thursday, March 5, 2015, 4:01 PM


Signs to Watch for a Major Peak in Stocks and Impending Bear Market (adam)

The second technical sign to look for is a major crossover in the MACD (moving average convergence-divergence) indicator shown in the bottom panel. This is often used by technical analysts as a buy and sell signal. As shown by the dotted lines, a MACD crossover occurred in May of 2000 and December of 2007. Currently, we see the market has steadily lost momentum since the beginning of 2014 but has yet to issue a sell signal. A sustained break below the 12-month moving average may trigger such an event. That brings us to the third technical signal we need to watch.

The Demolition Of Workers’ Comp (jdargis)

The changes, often passed under the banner of “reform,” have been pushed by big businesses and insurance companies on the false premise that costs are out of control.

In fact, employers are paying the lowest rates for workers’ comp insurance since the 1970s. And in 2013, insurers had their most profitable year in over a decade, bringing in a hefty 18 percent return.

The East India Company: The original corporate raiders (Chris M.)

Using its rapidly growing security force – its army had grown to 260,000 men by 1803 – it swiftly subdued and seized an entire subcontinent. Astonishingly, this took less than half a century. The first serious territorial conquests began in Bengal in 1756; 47 years later, the company’s reach extended as far north as the Mughal capital of Delhi, and almost all of India south of that city was by then effectively ruled from a boardroom in the City of London. “What honour is left to us?” asked a Mughal official named Narayan Singh, shortly after 1765, “when we have to take orders from a handful of traders who have not yet learned to wash their bottoms?”

Investing in Utility Stocks the Right Way (Tyler K.)

As the Oracle of Omaha himself proclaims in his annual letter, utilities offer “recession-resistant earnings.” That’s because no matter what economic situation we are in — depression, recession or boom times — we all need power. Barring a management-led mishap, regulated power companies are assured to make a profit.

The regulatory component here is extremely important. The power market is forever changing. With solar, fuel cell and other new technologies coming online, there will have to be some adjustments in the power markets. But I don’t think it will ever fully abate from a regulated market.

Small Quaker Group Takes Aim at Big Bank and Wins (jdargis)

To escalate the pressure, in 2012 we walked 200 miles to the bank’s corporate headquarters in Pittsburgh and told them that we’d be back, willing to risk arrest again if they didn’t change their policy. When they refused to comment, we returned the following spring and sang the old union song “Which Side Are You On?” to each member of the PNC board in the middle of their 2013 shareholder meeting. They shut the meeting down in seventeen minutes. We also began challenging individual PNC leaders when they least expected it, like board member Jane Pepper who traveled to England to lead a garden tour and was met by British Quakers bearing chocolates and signs demanding PNC stop investing in mountaintop removal.

Global Crude Oil Production Growth Grinding To A Halt (Evan K.)

This is the third in a monthly series of posts chronicling the action in the global oil market in 13 key charts. The February 2015 post is here. EIA oil price and Baker Hughes rig count charts are updated to end February 2015, the remaining oil production charts are updated to January 2015 using the IEA OMR data. The main oil production changes from December to January are:1. Global oil production has now been flat, just over 94 Mbpd since September 2014 (5 months). 2. The fall in the oil price reversed in February. The low point for Brent and WTI was reached on 13th January when Brent hit $45.13. The bounce came on news of plunging US drilling rig count but has been much more muted for WTI compared with Brent. The US glut of LTO appears to continue. 3. The main dynamic statistic has been the plunge in US oil rig count down 237 rigs for the month of February. Gas rig count is also heading down at the more sedate rate of 39 rigs for the month.

Salmon freezing to death in Nova Scotia (westcoastjan)

Cooke Aquaculture spokesperson Nell Halse told FIS salmon can survive in below-freezing temperatures, but a superchill can result in a spike in mortality rates.

In January, environmentalists expressed concern after hundreds of dead fish turned up in Cape Breton’s Bras d’Or lake. Experts believe that January’s unseasonably warm weather may have fooled the fish into swimming into the area, resulting in an “error of judgement” that led to their death.

A plastic bag lobby exists, and it’s surprisingly tough (jdargis)

Last year, California became the first state to pass a statewide ban on plastic bags in stores. But the law, which was set to go in effect for supermarkets in July, has been put on hold after the American Progressive Bag Alliance submitted a petition with over 800,000 names. Last week, California officials announced that voters would have to ratify the law in a referendum on the 2016 ballot.

“This is a cynical ploy by out-of-state interests desperate to delay a ban already adopted in more than 100 communities across California,” a spokesperson for Gov. Jerry Brown (D) told the Associated Press.

Gold & Silver

Click to read the PM Daily Market Commentary: 3/4/15

Provided daily by the Peak Prosperity Gold & Silver Group

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