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    Daily Digest 6/8 – It’s Bad Out There In Retail, “That America” Is Gone

    by Daily Digest

    Saturday, June 8, 2019, 5:19 AM


Economy

From Beds to Beads to Bracelets, It’s Bad Out There in Retail (Sparky1)

“The industry is little bit softer and more promotional than we’ve ever seen,” At Home’s Chief Executive Officer Lewis Bird said on Thursday’s earnings call. Signet’s CEO Gina Drosos called it a “very competitive U.S. retail landscape with soft traffic trends.”

One-third of Americans say they need a side gig to pay expenses (lambertad)

“A lot of people are working side hustles because even though the economy is strong, wages are stagnant,” Amanda Dixon, an analyst at Bankrate, told MarketWatch. “For a lot of Americans, expenses are rising, but there are no raises at work.”

How Can I Estimate the Income I’ll Need in Retirement? (Adam)

After analyzing many scenarios, we found that a 75% replacement rate may be a good starting point to consider for your income replacement rate. This means that if you make $100,000 shortly before retirement, you can start planning using the ballpark expectation that you’ll need about $75,000 a year to live on in retirement.

As Walmart turns to robots, it’s the human workers who feel like machines (Adam)

Walmart executives said they are skeptical that happened, because the Auto-C is designed to stop if someone interferes with its work. But Tanner insists Freddy dutifully stuck to the job at hand. “Someone had to pull [the sleeping man] off,” he said. Freddy “was going to swing toward groceries, just cleaning away.”

Prominent investigative journalist detained in Russia (Sparky1)

Meduza’s director general, Galina Timchenko, told The Associated Press that Golunov, one of the most prominent investigative journalists in Russia, was beaten while in detention and denied medical tests that would show he has not handled drugs. Timchenko said she has photos that show the impact on the left side of his face.

US, Russia blame each other as ships nearly collide in Asia (Sparky1)

“We consider Russia’s actions during this interaction as unsafe and unprofessional and not in accordance with the International Regulations for Preventing Collisions at Sea (COLREGS), ‘Rules of the Road,’ and internationally recognized maritime customs,” the statement said.

He was arrested at 13. Now Saudi Arabia wants to execute him (Sparky1)

Three years after he was filmed taking part in the bike protest, Saudi authorities arrested Qureiris, then just 13 years old. He was traveling with his family to Bahrain when he was detained by Saudi border authorities on the King Fahd causeway that connects the two countries.

At the time, he was considered by lawyers and activists to be the youngest known political prisoner in Saudi Arabia.

Over the past 50 years, Walmart has recast the fabric of American life, jostling mom-and-pop shops, reshaping small towns and transforming how millions work and shop.

Forget “Money”: What Will Matter Are Water, Energy, Soil and Food–and a Shared National Purpose (thc0655)

Having resources is only one component: consumption is the other half of the picture. Having 4 million barrels a day of oil (MBPD) is nice if you’re only using 3 MBPD, but if you’re consuming 8 MBPD, you still need to import 4 MBPD.

Paul Craig Roberts: “That America” Is Gone (Don R.)

Consumers, devoid of real income growth, maintained their living standards by going deeper into debt. This process was aided, for example, by stretching out car payments from three years to six and seven years, with the result that loan balances exceed the value of the vehicles. Many households live on credit cards by paying the minimum amount, with the result that their indebtedness grows by the month. The Federal Reserve’s low interest rates are not reciprocated by the high credit card interest rate on outstanding balances.

Save your kids from the busted fate of the Millennials (Phil D.)

“If I can’t afford a home, I definitely can’t afford kids,” Joy Brown told the Wall Street Journal. A 32-year-old Millennial, Joy is in the prime of her life, but owes $112,000 mostly in student loans, crippling her $75,000 salary. “My peers and I feel like we’re playing catch-up in the game of life.”

I feel sadness for Joy and her peers. It was a raw deal they got.

Refugees and Migrants From Venezuela top Four Million: IOM and UNHCR (Sparky1)

Governments in the region have established mechanisms for coordinating their response and facilitating the legal, social and economic inclusion of Venezuelan citizens. Chief among them is the Quito Process, which has brought together Latin American countries affected by the outflow of Venezuelan refugees and migrants. To complement these efforts, a humanitarian Regional Refugee and Migrant Response Plan (RMRP) was launched last December, targeting 2.2 million Venezuelans and 580,000 people in host communities in 16 countries. So far, the RMRP is only 21 percent funded.

Sun’s 11-Year Cycle –“Powered By Tidal Forces of Venus, Earth, Jupiter” (thc0655)

As with the gravitational pull of the Moon causing tides on Earth, planets are able to displace the hot plasma on the sun’s surface. Tidal forces are strongest when there is maximum Venus-Earth-Jupiter alignment; a constellation that occurs every 11.07 years. But the effect is too weak to significantly perturb the flow in the solar interior, which is why the temporal coincidence was long neglected.

A ‘Gusher Of Red Ink’ For U.S. Shale (Michael S.)

The report studied 29 North American shale companies and found a combined $2.5 billion in negative free cash flow in the first quarter. That was a deterioration from the $2.1 billion in negative cash flow from the fourth quarter of 2018. “This dismal cash flow performance came despite a 16 percent quarter-over-quarter decline in capital expenditures,” the report’s authors concluded.

Frogs are dying off at record rates — an ominous sign the 6th mass extinction is hitting one group of creatures hardest (Adam)

But one group is expected to suffer most of all: Amphibians. An estimated 40% of amphibian species face extinction, according to the UN report. A study published in the journal Current Biology estimated that at least 2,000 amphibian species are in danger of extinction.

Oops! Glacier National Park quietly removed a visitor center sign saying its iconic glaciers will disappear by 2020 due to climate change. (thc0655)

NPS updated signs at the St. Mary Visitor Center glacier exhibit over the winter. Sign changes meant the display warning glaciers would all disappear by 2020 now says: “When they completely disappear, however, will depend on how and when we act.”

Gold & Silver

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

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

  • Mon, Jun 10, 2019 - 6:15am

    #1

    saxplayer00o1

    Status Silver Member (Offline)

    Joined: Jul 30 2009

    Posts: 2934

    1+

    Britain not paying Brexit bill would not be default, S&P, Fitch say

    UK not paying Brexit bill would be debt default, French source says

    Reuters19 hours ago
    “Not honoring your payment obligations is a failure of international commitments equivalent to a sovereign debt default, whose consequences are well known,” …

    Corporate America’s mountain of cash is shrinking

    NBC2 News1 hour ago
    Total debt at US nonfinancial companies stood at $5.65 trillion at the end of 2018, according to Moody’s. That was up by just $80 billion from the year before, the …

    South Korea’s Household Debt Close to Its GDP

    BusinessKorea12 hours ago
    South Korea’s household debt-to-GDP ratio rose from 96.9 percent to 97.7 … household credit of the country increased 4.9 percent to 1,540 trillion won in the first …

    Boris Johnson would freeze $50 bln Brexit debt to EU

    Reuters.com3 hours ago
    Boris Johnson says that he’d threaten to withhold nearly $50 billion in outstanding … The hardliner wants to use the debt as leverage to renegotiate Brexit terms.
     ters1 hour ago

    Britain not paying Brexit bill would not be default, S&P, Fitch say

    Reuters20 minutes ago
    LONDON (Reuters) – Britain’s withholding the 39 billion pounds ($50 billion) it promised the European Union as part of its original Brexit plan would not …

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  • Mon, Jun 10, 2019 - 9:31am

    #2

    Michael_Rudmin

    Status Gold Member (Offline)

    Joined: Jun 25 2014

    Posts: 836

    Debt default? says who?

    If you remember, a Spanish woman patented all use of solar energy; if Britain’s failure to pay the EU for their nonsense claims is a debt default, so is the EU’s failure to pay her.

    Just ’cause someone says you owe them, doesn’t mean there is a lawful debt. And frankly, governments on Europe have not shown a very strong grasp on the meaning of law. Ordinances that they CALL law, yes. But understanding what is law, what is lawful… we have the French Revolution, the holocaust, the Spanish and Portuguese recessions that are testimony that Europeans …just.. don’t… get it.

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