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    Daily Digest 6/4 – Millennials Poorer Than Their Parents, Temps Exceed 50C In Northern India

    by Daily Digest

    Tuesday, June 4, 2019, 7:30 AM


Economy

Druckenmiller Piled Into Treasuries on Trump’s China Tweet (Adam)

Druckenmiller, who was interviewed by Key Square Capital Management founder Scott Bessent at The Economic Club of New York, said at the moment he doesn’t see Trump giving China room for negotiation because the president sees tariffs as a winning strategy for the 2020 election. That could change if the economy and markets get weaker, he said.

Quest Diagnostics says 11.9 million patients affected by data breach (Sparky1)

Several other companies have been hit in recent months by attacks on their websites. Highly targeted credit card skimming attacks hit Ticketmaster, British Airways, and consumer electronics giant Newegg in the past year, affecting millions of customers. The so-called Magecart group of hackers would break into vulnerable websites and install the malicious code to skim and send data back to the hacker-controlled servers.

Uncomfortable Questions on a Suffering, Paralyzed Nation (tmn)

Nothing has stopped the worst economic disaster of modern history. There’s hyperinflation and foreign currency exchange controls are still in place. Public banks are sanctioned by the U.S. and the private ones are in peril. More and more businesses are closing, but those running the black market of imported cars, dollars or food, and buying cheap real estate from people selling all they have, to pay a treatment or leave the country, those are the real winners.

Moscow ‘withdraws hundreds of key defense advisers from Venezuela with just a few dozen now left in the country’ in a fresh blow to President Maduro (Sparky1)

The firm worked with Venezuelan troops and advised Maduro’s regime as well as helped to secure arms deals.

Moscow first deployed around 100 soldiers in March to bolster the Caracas regime that faced a growing crisis since Guaido proclaimed himself acting president and is now recognized by dozens of countries as leader, including the US.

Mysterious light is spotted ‘moving at a high speed’ above multiple Chinese cities, sparking media speculation Beijing is secretly testing ‘a hypersonic nuclear missile that can reach the US’ (Sparky1)

One video of the mystical light, said to be shot from Zhengzhou in central China, shows the object flying above the city’s central business district before turning away and slowly disappearing.

One person can be heard saying ‘wow, what is this?’ before another voice added ‘[it] looks like something flown up from the ground’.

JAMA study: The cost of brand-name prescription drugs doubles every 7 to 8 years (lambertad)

The researchers studied drugs that exceeded $500 million in U.S. sales or $1 billion globally, had more than 100,000 pharmacy claims during those six years, and had available net price data. (Pharmacy claims are sent to the payer for a payment decision.)

Millennials’ habits are threatening countless industries — but a new report says it’s only because they’re poorer than their parents (tmn)

Millennials, however, are “dramatically financially worse off” than older generations were at similar ages, the study said. The study cited Census data indicating that the net worth of American consumers under the age of 35 had fallen by more than a third since 1996.

Is Trump Reversing Course On Iran? (Michael S.)

Trump also seems to be softening the policy on Iranian oil exports. In April, the administration announced that it would not extend any waivers on countries buying Iranian oil, a move intended to take Iran’s exports down to zero, as long promised. “The policy of zero Iranian imports originated with Secretary Pompeo,” a senior State Department official told the Washington Post in April. “He has executed this policy in tight coordination with the president every step of the way. Because the conditions to not grant any more [waivers] have now been met, we can now announce zero imports.”

FDA confirms PFAS chemicals are in the US food supply (Sparky1)

These chemicals can easily migrate into the air, dust, food, soil and water and can accumulate in the body. They’ve been linked to adverse health impacts including liver damage, thyroid disease, decreased fertility, high cholesterol, obesity, hormone suppression and cancer.

India weather: Temperature passes 50C Celsius in northern India
(RS)

The Indian Meteorological Department said severe heat could stay for up to a week across Rajasthan, Maharashtra, Madhya Pradesh, Punjab, Haryana and Uttar Pradesh states.

Several deaths from heatstroke have already been recorded.

Gold & Silver

Click to read the PM Daily Market Commentary: 6/3/19

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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