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    Daily Digest 6/20 – EIA Data Pushes Oil Prices Higher, Why Is Climate Change So Often “Sooner than Predicted”?

    by Daily Digest

    Thursday, June 20, 2019, 9:17 AM


Economy

Nuclear weapons: experts alarmed by new Pentagon ‘war-fighting’ doctrine (Sparky1)

The Nuclear Operations document was taken down from the Pentagon online site after a week, and is now only available through a restricted access electronic library. But before it was withdrawn it was downloaded by Steven Aftergood, who directs the project on government secrecy for the Federation of American Scientists.

Want a House Like This? Prepare for a Bidding War With Investors (newsbuoy)

“If it weren’t bad enough out there for first-time home buyers, the additional competition from investors is increasingly pushing starter homes out of the reach of many households,” said Ralph McLaughlin, deputy chief economist at CoreLogic, a provider of real estate data.

Mr. Jackson did not have to wait long for his investment to pay off. He sold the home to another investor in May 2018 for $134,000, pocketing $49,000 (minus expenses) after owning it for less than two months.

FASB Advances Toward Easing Accounting Burden for Libor Phaseout (Sparky1)

The board’s decision would apply to loans, debt, leases and other arrangements. It must still be incorporated in a proposal to amend existing rules, which would undergo a public comment period before being finalized and approved. FASB expects to change the rule in time for the transition away from the Libor at the end of 2021.

Number of People Fleeing Conflict Is Highest Since World War II, U.N. Says (jdargis)

Most of those uprooted by conflict worldwide in 2018 — around 41 million — remained displaced in their own countries, while close to 26 million fled across borders and 3.5 million were seeking asylum in third countries.

Of those who fled their own countries, 80 percent of the world’s refugees were taking shelter in neighboring nations, Mr. Grandi said, pushing back at the narrative that a majority were heading to the United States, Europe or Australia.

Oakland Councilmember Warns Oakland and Emeryville that they may lose Home Depot Stores over Blight (thc0655)

Complicating the issue is that while it is clearly impacting Emeryville, the jurisdiction is shared with Caltrans and the City of Oakland. Oakland Mayor Libby Schaaf and 2018 Emeryville Mayor John Bauters announced last December that the two cities were “collaborating” to tackle the issue. The City of Emeryville will be providing $72K and 11 modular homes to be used at a yet undetermined location.

Xi Jinping arrives in Pyongyang, marking first visit by Chinese leader to North Korea in 14 years (Sparky1)

In an opinion piece published Wednesday in North Korea’s state-run newspaper Rodong Sinmun, Xi wrote that he hopes to use the visit to “engrave a new chapter of the traditional friendship” between the two countries. Though Xi has written for foreign media ahead of visits to other countries, it’s rare for North Korea’s state-controlled media to publish something from a foreign head of state.

Free Lunch! (GE Christenson)

Central banks have created over $20 trillion in “funny money” from “thin air” in their debt fueled fantasy land. They used those currency units to buy dodgy bonds, stocks, ETFs, gold, politicians and much more.

Sounds like a free lunch… billions of free lunches…

How 7.4 Tons of Venezuela’s Gold Landed in Africa—and Vanished (Sparky1)

On two early-March flights, at least 7.4 tons of gold with a market value over $300 million moved from Venezuela to a refinery in Uganda, say officials in Venezuela and Uganda, a foreign diplomat and Venezuelan opposition lawmakers, who have concluded Mr. Maduro’s government exported the ingots.

This is what REAL SHTF looks like in a Farm or Homestead (thc0655)

Describing what happened on March 23, 2018, Nicky said a stream of bullets came blasting through the patio door, narrowly missing her 15-year-old son’s head.

Nicky said: ‘With the bullets smashing through the windows I can only describe our feeling as being hunted like wild animals.

Iran Revolutionary Guard shoots down US drone amid tensions (Sparky1)

All this has raised fears that a miscalculation or further rise in tensions could push the U.S. and Iran into an open conflict, some 40 years after Tehran’s Islamic Revolution. Thursday’s drone incident marks the first direct Iranian-claimed attack on the U.S. amid the crisis.

Democrats demand answers on Trump’s approach to Iran (Sparky1)

Sen. Marco Rubio of Florida, who sits on both the Senate Foreign Relations and Intelligence committees, said he does believe there is a link between Iran and al-Qaida. But he also said the authorization Democratic lawmakers are referencing is “irrelevant” because it would not be needed “to respond to an attack, and to prevent one if it’s imminent.”

The Latest: 2 rockets land on oil company sites in Iraq (Sparky1)

The officer tells The Associated Press that security reinforcements have been deployed to the site after a rocket hit before dawn Wednesday near the location of the Iraqi workers, wounding three. Iraqi officials said a Katyusha rocket hit the site in southern Basra province, striking a camp housing workers for Exxon Mobil and other foreign companies.

Bullish EIA Data Pushes Oil Prices Higher (Michael S.)

The geopolitical situation in the Middle East remains tense with the U.S. claiming it has evidence that the Iranian Revolutionary Guard was behind the latest attacks on two tankers in the Gulf of Oman, in which Iran categorically denying any involvement. The investigation into the event is ongoing. Prices reacted with a jump on the news of the attacks but quickly retreated, possibly because the fundamentals situation does not merit a more lasting prices rise.

Climate Change: Why is it So Often “Sooner than Predicted”? (PaulJam)

In describing how the IPCC operates, Meteorologist Nick Humphrey said: “Essentially making sure it’s not too dire [and] shows economic paths to success.” Clearly, such methodology has been giving us a picture that underestimates the true situation, and that is not in anybody’s interest.

Our Love Of Almonds Is Seriously Jeopardizing Honeybees (edelinski)

By May, it was clear that California’s almond growers — who supply 80% of the world’s almonds — had successfully negotiated the threat of a bee shortage and were expected to produce a record crop of 2.5 billion pounds, up 10% from last year, according to the U.S. Department of Agriculture.

US beekeepers lost 40% of honeybee colonies over past year, survey finds (Sparky1)

Alarm over honeybee numbers has grown since 2006, when a phenomenon called colony collapse disorder became widely known. This problem, in which the majority of worker bees abandon the colony, has since receded but beekeepers are now faced with more general die-offs linked to disease, pesticide use and habitat loss.

India’s sixth biggest city is almost entirely out of water (Adam)

With the reservoirs dry, water is being brought directly into Chennai neighborhoods in trucks. Every day, hundreds of thousands of residents have no choice but to stand in line for hours in soaring summer temperatures, filling dozens of cans and plastic containers.

Gold & Silver

Click to read the PM Daily Market Commentary: 6/19/19

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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