• Daily Digest
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    Daily Digest 3/5 – The Revolt Begins, Job Growth Isn’t Turning Into Raises For Workers

    by DailyDigest

    Saturday, March 5, 2016, 8:12 PM

Economy

Blockbuster Job Growth Still Isn’t Turning Into Big Raises For American Workers (richcabot)

Job gains were concentrated in health care and social assistance (57,000), retail (55,000), food service and drinking places (40,000), private education services (28,000), and construction (19,000). Retail has added 339,000 jobs over the last year, while food and drinking places have added 359,000.

Even with strong jobs growth, wages slipped in February. After a 12-cent gain in February, average hourly earnings declined by 3 cents, and they’ve grown by just 2.2 percent over the last year.

Here Come The SDR Bonds (FREEPOM) (westcoastjan)

This one statement provides the largest validation yet for POM readers that we are in fact on the correct course with this thesis. What isn’t clear in the statement is whether July is the deadline for the report to be presented, or when the broader use of the SDR should begin. Considering the time it takes to decide on changes and implement them, it would be my interpretation that it is only the report which is meant to be completed by July.

Why the Arabs don’t want us in Syria (PBD)

To understand this dynamic, we need to look at history from the Syrians’ perspective and particularly the seeds of the current conflict. Long before our 2003 occupation of Iraq triggered the Sunni uprising that has now morphed into the Islamic State, the CIA had nurtured violent jihadism as a Cold War weapon and freighted U.S./Syrian relationships with toxic baggage.

Surprise! Controversial Patriot Act power now overwhelmingly used in drug investigations (richcabot)

Law enforcement made 47 sneak-and-peek searches nationwide from September 2001 to April 2003. The 2010 report reveals 3,970 total requests were processed. Within three years that number jumped to 11,129. That’s an increase of over 7,000 requests. Exactly what privacy advocates argued in 2001 is happening: sneak and peak warrants are not just being used in exceptional circumstances—which was their original intent—but as an everyday investigative tool.

The Revolt Begins: German Banking Association Tells Members To Start Hoarding Bills (Aaron M.)

Cheap money encourages risky behavior. It gives banks an incentive to give ‘no money down’ loans to homeless people with no employment history.

It creates bubbles (like the housing bubble from 10 years ago), and ultimately, financial panics (like the banking crisis from 8 years ago). Banks are supposed to be conservative, responsible managers of other people’s money.

Arizona Advances Bill To Spend Millions Each Year Putting Photos On Food Stamps Cards (richcabot)

Adding photographs to benefits cards will cost Arizona taxpayers $6 million in year one and $4.2 million more in every subsequent year, the state’s fiscal analysts say. While conservatives who support that policy say the goal is to reduce fraud – which swallows just 1 percent of all food stamps money nationwide – any such reduction would not save Arizona a dime. Food stamps and other anti-poverty benefits are entirely federally funded, with states paying only for half the cost of administering the systems.

"Democracy Ends In Turkey": Prominent Anti-Erdogan Newspaper Seized In Midnight Raid (pinecarr)

The details: shortly before midnight, a team of police arrived with two Turkish-made TOMA water cannon trucks. They advanced military style towards the waiting supporters, firing the freezing water directly at them. Using bolt-cutters to unlock the iron gate in front of the building, dozens of police then marched into the premises to seize the headquarters and formally place it under administration, pushing aside anyone who stood in their way, Cihan images showed.

Climate Deniers’ Favorite Temperature Dataset Just Confirmed Global Warming (richcabot)

In fact, for those who live in reality, as opposed to in denial, satellite data, ground-based weather stations, sea-based buoys, and even weather balloons all reveal a steady long-term warming trend.

Gold & Silver

Click to read the PM Daily Market Commentary: 3/4/16

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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7 Comments

  • Sat, Mar 05, 2016 - 8:39pm

    #1

    sand_puppy

    Status: Platinum Member

    Joined: Apr 13 2011

    Posts: 2410

    Post apocalyptic chocolate stash

    Well, I placed my order:

    I went with the BIG 72 ounce bags. 

    I now feel ready for whatever life may bring.

     

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  • Sat, Mar 05, 2016 - 11:38pm

    #2

    pinecarr

    Status: Gold Member

    Joined: Apr 13 2008

    Posts: 1146

    Secret Dollar Buyback - Rob Kirby

    From Reluctant Preppers,

    https://www.youtube.com/watch?v=2VxWu_PUaCU

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  • Sat, Mar 05, 2016 - 11:59pm

    Locksmithuk

    Status: Bronze Member

    Joined: Dec 19 2011

    Posts: 123

    Chocolate ivory towers

    [quote=sand_puppy]

    Well, I placed my order:

    I went with the BIG 72 ounce bags. 

    I now feel ready for whatever life may bring.

     

    [/quote]

     

    Yes yes yes, but are those bags zombie-proof too? I don't want to be defending my bling, corn crop and Stradivarius from the Great Unwashed when the meltdown comes... AND then have to worry about the undeserving dead coming for my Nestle-derived-from-Ivorian-child-labour-on-cocoa-plantation nomnoms.

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  • Sun, Mar 06, 2016 - 9:57pm

    #4

    HughK

    Status: Gold Member

    Joined: Mar 06 2012

    Posts: 571

    BIS' Claudio Borio: Confidence in central banks is faltering

    I sent an article on this in for the Daily Digest tomorrow, but these remarks from the Bank for International Settlements' Claudio Borio seem important.

    Some of his themes include:

    -emerging market (EM) debt levels are crashing

    -we are reaching "inflection" points (tipping points?)

    - This is what he says about large depreciations in EM currencies + slowing domestic growth:

    "It is as if two waves with different frequencies came together to form a bigger and more destructive one."

    -speaking of waves, Borio talks about the importance of understanding the financial cycle as well as the business cycle, and has some nice graphs on that.

    And yes, maybe we have passed peak central bank jawboning:

    "Despite exceptionally easy monetary conditions, in key jurisdictions growth has been disappointing and inflation has remained stubbornly low. Market participants have taken notice. And their confidence in central banks' healing powers has - probably for the first time - been faltering.  Policymakers too would do well to take notice"

    And from the conclusion of the slideshow (see below):

    The global economy is struggling to achieve sustainable and balanced expansion

    Most conspicuous sign: exceptionally low interest rates for exceptionally long

    Most recent slowdown in EMEs is but latest scene in a long movie

    I have offered a possible lens to understand this predicament:  

    • Key: inability of policy frameworks to come to grips with the global economy's …propensity to generate hugely damaging financial booms and busts

    This raises near-term and long-term risks:

    •    Further episodes of serious financial distress
    •    Entrenching instability and chronic weakness
    •    A rupture in the open global economic order

    We cannot afford to rely on the current debt-fuelled growth model any longer The sooner we realise this, the better

    There's a lot more that someone more perceptive than I can probably tease out of his remarks.

    On-the-record remarks by Claudio Borio & Hyun Song Shin of the BIS (4 March 2016)

    Slides with compelling graphics:  Borio's The movie plays on:  A lens for viewing the the global economy (Feb. 10 2016)

    Three graphics from the slides:

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  • Mon, Mar 07, 2016 - 12:43pm

    #5
    robie robinson

    robie robinson

    Status: Gold Member

    Joined: Aug 25 2009

    Posts: 1052

    The greatest race on earth

    Eye on the Trail: Last Teams to Finish March 17th

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  • Mon, Mar 07, 2016 - 2:10pm

    #6

    Arthur Robey

    Status: Platinum Member

    Joined: Feb 03 2010

    Posts: 1814

    Cold Fusion Update

    Hello frends! Today we have a new article by Mats Lewan. "After five years of debate on the much discussed energy device, the E-Cat, I have finally been shown a theoretical model that makes sense and which seems to be consistent with both laws of physics and experimental results, which I will present here. As I have said before—only with a valid theoretical model, effective R&D on LENR based devices can start in earnest. And judging from the over 200 patent applications Rossi says he is preparing, Rossi probably has this kind of understanding. Quite possibly, the model he is using is close to what you’ll find here below. This blog post will be fairly technical and a bit long, but for those wanting to get this understanding I think it’s worthwhile. Also note that it will be updated continuously with corrections of details that I might have misunderstood, or that need further elaboration. And before I start—a special thanks to Bob Greenyer, co-founder of MFMP, who shared recent insights with me, and also insisted that I carefully read the patents of long-time researcher on nickel-hydrogen based LENR, Francesco Piantelli, who used to collaborate with Rossi’s scientific advisor, late Prof. Sergio Focardi. Below you’ll find a series of videos that Greenyer is producing on this topic (I will add more of them as they are published), and just like Greenyer, I would like to highlight the importance of Piantelli’s and Focardi’s work.

    https://www.lenr-forum.com/forum/index.php/Thread/2852-Finally-This-is-possibly-how-the-E-Cat-works/

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  • Mon, Mar 07, 2016 - 3:42pm

    #7

    saxplayer00o1

    Status: Silver Member

    Joined: Jul 30 2009

    Posts: 3134

    Europe Faces Pension Predicament

    Economists at global bank body warn of risks from negative interest rates

    CNNMoney - ‎9 hours ago‎
    Economists at a key central bank organization are warning of potential risks from the negative interest rates in place in Europe and Japan. Central banks in the eurozone, Denmark, Japan, Sweden and Switzerland have all taken rates below zero and into ...

    Bank for International Settlements cautions over negative interest rates

    Sydney Morning Herald - ‎10 hours ago‎
    Negative interest rates are not always being passed on to businesses and consumers, and could ultimately undermine the business models of banks, pension funds and insurance companies, the Bank for International Settlements has warned. The BIS ...

    Japan central bank to cut next fiscal year's growth, price estimates

    Reuters-4 hours ago
    Central bank policymakers may cut the growth estimate closer to private forecasts of around 1.3 percent, blaming the cut on sluggish overseas demand, the ...

    Moody's, Fitch flag warnings on delaying Japan's sales tax hike

    Channel News Asia - ‎9 hours ago‎
    Japan's ample domestic savings have helped the country finance most of the debt so far. "The sovereign's exceptional funding flexibility has long been one of the strengths in the credit profile despite high level of government debt and the deficit ...

    Moody's, Fitch flag warnings on delaying Japan's sales tax hike

    Channel News Asia - ‎9 hours ago‎
    Japan's ample domestic savings have helped the country finance most of the debt so far. "The sovereign's exceptional funding flexibility has long been one of the strengths in the credit profile despite high level of government debt and the deficit ...

    Chinese finance minister: Deficit widening to support growth

    USA TODAY - ‎8 hours ago‎
    Government debts are "not very high" at 11 trillion yuan ($1.7 trillion) or the equivalent of 40% of GDP, Lou said. That compares with over 230% of GDP for Japan, which is struggling to restore balance as its population swiftly ages, driving costs for ...

    China Bonds Drop on Stimulus Bets as Deficit Aim Set at Record

    Bloomberg-10 hours ago
    Total issuance of sovereign notes will rise to 3.44 trillion yuan ($529 billion), ... “With the increase of the deficit ratio, stronger fiscal stimulus will set a floor for ...

    China February FX reserves fall to $3.20 trillion, lowest since late 2011

    Reuters-5 hours ago
    ... the $3.20 trillion at the end of February was the lowest level since December 2011, ... to repay dollar-denominated debt, rather than widespread capital flight,.

    Europe Faces Pension Predicament

    Wall Street Journal-21 hours ago
    Even the U.S., with a Social Security trust fund of $2.8 trillion, faces criticism for .... Only a few countries estimate the total debt burden of the pension promises ...

    Rising Bad-Debt Charges Next Hassle for Australian Lenders

    Bloomberg-18 hours ago
    They posted combined bad-debt charges of A$3.8 billion, up 9.3 percent from 2014, and the first time the measure had increased in six years, according to their ...
     

     

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