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    Daily Digest 5/18 – Many Americans Just 1 Paycheck Away From Disaster, The Institutionalization Of Fraud

    by Daily Digest

    Saturday, May 18, 2019, 7:24 AM

 

Economy

Millions of Americans are just one paycheck away from financial disaster

Certain communities were more prone to economic hardship in the event of missing a paycheck. Roughly two-thirds of households earning less than $30,000 annually and Hispanic households would be unable to cover basic living expenses after missing more than one paycheck, the researchers found.

Fed Officials Sound an Alarm, Worrying Weak Inflation Could Last (Thomas R.)

“The fact that inflation has been running somewhat below our longer-run goal of 2 percent may not be entirely due to labor market slack or to transitory shocks,” Ms. Brainard said in a speech at the National Tax Association’s spring symposium in Washington.

Walmart and Macy’s warn China tariffs mean higher prices for U.S. shoppers (Thomas R.)

The world’s biggest retailer is echoing a warning recently made by department-store chain Macy’s: Prices are headed higher for U.S. shoppers if more tariffs are imposed on imports from China. That alert from Walmart contrasts with President Donald Trump’s often-repeated assertion that China is paying the price in the ongoing trade war between the world’s two largest economies.

Silver Supply/Demand Crunch Part II: Primary Silver Producers Stuck in Quicksand and Still Sinking (Adam)

Underpinning the erosion in supply is the deterioration in mine production. This is important, because most of the bullion you and I buy comes from newly-mined silver. Secondary sales (products that have been previously bought and sold) will always have a place in the bullion industry—and a growing role in a supply/demand crunch—but to be prepared for the kind of rush Mike Maloney see ahead, mine production will need to be healthy and rising.

US crude rises 1.4% to 2-week high on Middle East tension, settling at $62.87 (Thomas R.)

The Saudi-led military coalition in Yemen carried out several air strikes on the Houthi-held capital Sanaa on Thursday after the Iranian-aligned movement claimed responsibility for drone attacks on two Saudi oil pumping stations earlier in the week.

Mortgage rates head down for the third week in a row (Thomas R.)

According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average dipped to 4.07 percent with an average 0.5 point. (Points are fees paid to a lender equal to 1 percent of the loan amount and are in addition to the interest rate.) It was 4.10 percent a week ago and 4.61 percent a year ago. The 30-year fixed rate has gone down for three weeks in a row.

Ford recalls more than 270,000 vehicles at risk of rolling away (Thomas R.)

The affected 2019 Rangers have an issue with the transmission shift cable fastener. Those two fasteners that secure the transmission shift cable bracket to the transmission may have been improperly torqued and could cause the transmission shift cable to become loose. The transmission could then shift to a different gear. If parked, the vehicle could start rolling away unexpectedly.

The Normalization and Institutionalization of Fraud (thc0655)

How is private equity loading companies up with debt as a means of paying outlandish dividends to themselves not commoditized fraud? How is paying dividends with debt rather than earnings not fraud? The net result of this fraud is the debt-burdened company eventually defaults on its debt, defrauding the investors who were suckered into the scam.

The Physical Oil Market Is Saying We Are About To See The Largest Crude Storage Draw Since 2011 (Thomas R.)

But, on the physical market, the divergence continues with the Brent 1-2 timespread moving up, while Brent 2-3 is flat on the day despite the sell-off. WTI timespreads are also improving, which might indicate that storage draws are coming, although the spreads are still in contango, which is still an illustration that the US crude market remains oversupplied.

JPM Warns About “Perfect Storm” American Farm Crisis, Slashes Deere To Sell (Don R.)

“As a result of tariffs and excess global supply, US soybean export inspections are down 27%” YoY, Duignan wrote. She added that the Chinese are shunning US farmers and are purchasing crops from South America.

Refinitiv trade flows indicate the trade war has cut over 80% of US soybean exports to China so far this market year (September-August).

‘This is a wake-up call’: the villagers who could be Britain’s first climate refugees (tmn)

In 26 years – or sooner, if forecasts worsen or a storm breaches the sea defences – a taskforce led by Gwynedd council will begin to move the 850 residents of Fairbourne out of their homes. The whole village – houses, shops, roads, sewers, gas pipes and electricity pylons – will then be dismantled, turning the site back into a tidal salt marsh.

Gold & Silver

Click to read the PM Daily Market Commentary: 5/17/19

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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2 Comments

  • Sun, May 19, 2019 - 1:09am

    #1

    Time2help

    Status Platinum Member (Offline)

    Joined: Jun 08 2011

    Posts: 2225

    3+

    Hypersonic Missiles

    “Dutch kids huff balloons in the parking lot
    The golden arches illuminate the business park
    I eat myself to death, feed the corporate machine
    I watch the movies, recite every line and scene
    God bless America and all of its allies
    I’m not the first to live with wool over my eyes
     
    I am so blissfully unaware of everything
    Kids in Gaza are bombed, and I’m just out of it
    The tensions of the world are rising higher
    We’re probably due another war with all this ire
    I’m not smart enough to change a thing
    I’ve no answers, only questions, don’t you ask a thing
     
    Oh, the silver-tongue suits and cartoons, they rule my world
    Saying it’s a high time for hypersonic missiles
    But when the bombs drop, darling
    Can you say that you’ve lived your life?
    Oh, this is a high time for hypersonic missiles
     
    The cities lie like tumors all across the world
    A cancer eating mankind, hitting it on blindside
    They say I’m a nihilist ’cause I can’t see
    Any decent rhyme or reason for the life of you and me
    But I believe in what I’m feeling, and I’m falling for you
    This world is gonna end, but ’til then, I’ll give you everything I have
    I’ll give you everything I have
     
    Oh, the silver-tongue suits and cartoons, they rule my world
    Saying it’s a high time for hypersonic missiles
    When the bombs drop, darling
    Can you say that you’ve lived your life?
    Oh, this is a high time for hypersonic missiles
     
    Then you’ll do the same, only their names change, honey
    You can join their club if you’re born into money
    It’s a high time for hypersonic missiles
    And, oh, this is a high time for hypersonic missiles
    And, oh, this is a high time for hypersonic missiles
    Oh, this is a high time for hypersonic missiles”
     

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  • Sun, May 19, 2019 - 4:34pm

    #2

    thc0655

    Status Platinum Member (Offline)

    Joined: Apr 27 2010

    Posts: 1436

    1+

    No matter who you vote for...

    https://i.redd.it/kpavgaubq8v21.jpg

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