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    Daily Digest 5/8 – EU Cuts German Growth Outlook, The Plus Side of Catastrophe

    by Daily Digest

    Wednesday, May 8, 2019, 5:53 AM

Economy

Low-income moms in four U.S. cities are being paid $4,000 a year, with no strings attached

Some 1,000 low-income mothers in New York City, New Orleans, Minneapolis-St. Paul, and Omaha, Nebraska will eventually be part of the study, which seeks to examine the role of money in families’ financial stress levels.

EU Cuts German Growth Outlook, Sees ‘Pronounced’ Euro-Area Risks

The forecasts reflect more pronounced weakness in the region, which has stumbled due to a slowdown in the global economy, unresolved trade disputes and “exceptional weakness” in manufacturing. Meanwhile sentiment has taken a hit from disruptions in the auto industry, social unrest, and uncertainty related to Brexit.

Illinois Lawmakers Eye Revenue Bonanza from Recreational Pot

Pritzker’s enthusiasm for pot relates in part to the drug’s potential as a revenue bonanza for his cash-strapped state. Illinois faces a fiscal crisis featuring a $3.2 billion structural deficit, a $15 billion backlog of unpaid debts, and unfunded pension liabilities estimated at $133 billion.


Italy spending plans projected to breach EU rules, setting up another spat with Brussels

Italy has the second-largest debt pile in the EU and, according to the latest forecasts by Brussels, the Italian debt-to-GDP ratio will hit 133% this year and rise to 135% in 2020.

Fed flags high U.S. business debt, asset prices in financial report

The ratio of debt to assets among publicly traded, nonfinancial firms is near a 20-year high, the Fed noted, and the share of new loans going to the most indebted companies is near peaks reached in 2014 and just before the 2007 to 2009 financial crisis.

Student asks O’Rourke emotional school shooting question (Sparky1)

A middle school student in Iowa got emotional while asking presidential candidate Beto O’Rourke about school shootings.

5G: The Big Picture (yogmonster)

There are at present approximately two thousand fully functioning satellites orbiting the Earth. Some beam down commercial GPS (or “SatNav”), some provide TV, some provide mobile phone services, and some bounce radar back and forth to produce images for meteorologists and military surveillance. The Earth is thus already comprehensively irradiated from outer space.

‘Cyber event’ disrupted U.S. grid networks — DOE (thc0655)

U.S. utilities are required to notify DOE within one hour of any successful cyberattack on their systems. Power companies that fail to file an OE-417 electric disturbance report can be fined up to $2,500 per day, although DOE has never issued civil or criminal penalties related to the form. The document is supposed to include a high-level overview of the incident, whether it be a hurricane-related outage or a physical attack on the facility. A second, more closely guarded portion of the form contains a detailed summary of actions taken to resolve the incident and “preliminary results from any investigations,” per DOE guidelines.

Pompeo on Arctic Ice: Seeing the Plus Side of Catastrophe (Doug)

Last week, the National Snow and Ice Data Center (NSIDC) released its monthly sea ice update which found “daily ice extent remained at record low levels throughout the month.” Over the past three decades, the Arctic has lost 95 percent of its oldest ice to global warming—more ice loss could result in ice-free summers, causing the planet to warm even further.

Gold & Silver

Click to read the PM Daily Market Commentary: 5/7/19

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

  • Wed, May 08, 2019 - 7:28am

    #1

    saxplayer00o1

    Status Silver Member (Offline)

    Joined: Jul 30 2009

    Posts: 2925

    China Defaults Hit Record in 2018. 2019 Pace Is Triple That

    China Defaults Hit Record in 2018. 2019 Pace Is Triple That

    Bloomberg12 hours ago
    … biggest by far for defaults in China’s $13 trillion bond market, highlighting the …. The company has reduced 43 billion yuan of interest-bearing debt since the …

    Federal deficit grew 38 percent in first 7 months of fiscal year: CBO

    The Hill17 hours ago
    “Outlays for net interest on the public debt increased by $27 billion (or 13 percent) because interest rates on short-term debt are substantially higher now than …

    Italy Blows Off EU Warning Shot Over Mounting Budget Deficit

    Bloomberg6 hours ago
    The new forecasts could force the government to “find” 35 billion euros ($39 billion) to offset “missed corrections” for deficits in the last two years, Il Sole 24 Ore …

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  • Thu, May 09, 2019 - 7:16am

    #2

    sand_puppy

    Status Platinum Member (Offline)

    Joined: Apr 13 2011

    Posts: 1821

    2+

    Douglas Feith the Second

    If you are alarmed that U.S. sanctions against Iran, designed to reduce that nation’s oil exports to zero, are a form of economic warfare that may lead to war, consider that U.S. sanctions policy against Iran is crafted by an Israeli born dual-citizen who now occupies a high position in the US government and is the author of the Iran sanctions.

    Sigal Mandelker, U.S. Undersecretary of the Treasury for Terrorism and Financial Intelligence, is at the forefront of current U.S. sanctions againstIran. She is an Israeli-American dual national, born in Israel, who meets with the Israeli prime minister to discuss U.S. sanctions on Iran.

    As Benjamin Netanyahu said about his meeting in Israel with Mandelker and Secretary of the Treasury Steven Mnuchin on October 21, 2018:

    “Our focus in the discussion will be on increasing the pressure on the world’s main terrorist regime, the aggressor regime in Tehran.”

    See: “US Treasury Undersecretary: Sanctions to hit Iran hard”
    https://en.globes.co.il/…/article-us-treasury-undersecretar…

    “Israeli Born Deputy Treasury Secretary: Iran Tripled Hezbollah’s Annual Pay to $700 Million”
    https://www.jewishpress.com/…/israeli-born-depu…/2018/06/06/

    Writing in the Unz Review, Philip Giraldi points out that the control, from the inside, is the same Fifth Column approach that got us into the war in Iraq.

    Philip Giraldi wrote about the secretive Office of Terrorism and Financial Intelligence (OTFI) within the Department of the Treasury in an article entitled “Israel’s Fifth Column: Exercising control from inside the government

    ————–

    Recall, that in a coordinated series of actions, the concept of the Global war on Terror was launched at the Jerusalem Conference on International Terrorism sponsored by Jonathan Netanyahu Institute.  Its primary write up was published by Bibi Netanyahu.

    Then the USA was “attacked” by “Muslim terrorists” on 9/11 and the US military and a gullible US population were skillfully lead to acquiesce to the general idea that the US needed to wage wars in the middle east to wipe out Israel’s Arab neighbors.  This was described as a policy coup by General Wesley ClarkeThe direction of the US government was taken over by a group of insiders.

    Douglas Feith was installed in the Office of Special Plans in the Pentagon and the career analysts working there were quickly replaced by “political appointees” all dedicated to justifying the invasion of Iraq.  A number of narratives were developed and “evidence” created, then sold to the US population through the power of the still-trusted mainstream media allied with the group that wanted to wage war on Iraq.

    I believe that we are seeing a repeat of the same type of operation.

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