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    Daily Digest 7/10 – Iran Sanctions “Different This Time,” Is This The Most Hawkish Fed Ever?

    by DailyDigest

    Tuesday, July 10, 2018, 11:52 AM


Generation wealth: how the modern world fell in love with money (blackeagle)

Greenfield introduces us to characters all motivated by the accumulation of wealth. “No matter how much people had, they still wanted more,” Greenfield says of her subjects. We meet Florian Homm, a hedge fund manager living in self-imposed exile in Germany to avoid extradition to the US where he has been sentenced to 225 years in jail. Smoking cigars and dripping in gold, Homm, who became known as “the antichrist of finance” for ripping off his investors for hundreds of millions of dollars, tells Greenfield that morality changed in the 80s. “The value system changed completely. It wasn’t about who you are, but about what you are worth… Morals are completely non-productive in that value system.”

Brett Kavanaugh: Who is he? Bio, facts, background and political views (TS)

“He is a committed textualist and originalist, one whose time on the bench has revealed a unique ability to apply these principles to legal facts,” Vance wrote. “He deeply believes in the constitutional separation of powers as a means for ensuring governmental accountability and protecting individual liberty. From the start of his career, he’s applied the Constitution faithfully, even when that made him a lonely voice. He has done so with particular tenacity on the issue that matters most to the president: taking power away from unelected bureaucrats and returning it to elected officials.”

Is This The Most Hawkish Fed Ever? (Thomas R.)

Although the growth and interest rate differentials between the U.S. and the rest of the world are causing distress in EM’s, China, and Europe, that doesn’t mean our markets are flourishing. In fact, the Dow Jones Industrial Average is down YTD, and 20% of the S&P 500 is in a bear market. But still, EM markets are where the salient problems can be found. For example, the Argentine peso has crashed 75% year-over-year against the dollar.

Nordstrom plans to open more stores with no inventory in Los Angeles, New York (thc0655)

Nordstrom said the new locations in Los Angeles — one in Brentwood and one downtown — would be tailored specifically to those neighborhoods. It hasn’t yet revealed an address for a New York store but is in the process of constructing its first full-line department store for women in the city. It just opened a men’s shop near The Shops at Columbus Circle earlier this year.

Inside China’s Dystopian Dreams: A.I., Shame and Lots of Cameras (Sparky1)

In some cities, cameras scan train stations for China’s most wanted. Billboard-size displays show the faces of jaywalkers and list the names of people who don’t pay their debts. Facial recognition scanners guard the entrances to housing complexes. Already, China has an estimated 200 million surveillance cameras — four times as many as the United States.

Trade Wars, Gold and a Once-in-a-Lifetime Opportunity (Kevin J.)

Initially the tariffs may be read as a positive, but it has very negative implications for the economy as a whole. Very early on in the conversations about steel import duties, I saw a chart that showed there are about 330,000 Americans who work, directly or indirectly, in the steel industry, but there are more than 330 million Americans who ride in cars daily. The protectionist measures help a substantial amount of people, 330,000, and the communities around them, but it has a negative effect on the pockets and the economics of families of 330-plus million people. This has a disruptive effect on the resource universe.

Iran Sanctions Are Different This Time (Michael S.)

It isn’t that Trump’s sanctions won’t be as effective, despite the refusal of the rest of the international coalition to go along with Washington’s isolation campaign. In fact, even though the EU, in particular, is hoping to shield Iran from the wrath of the U.S. Treasury, international companies are packing up and leaving Iran and refiners around the globe are starting to cut their oil imports from Iran. So, yes, there is every reason to believe that the sanctions will have real bite.

Humans are causing animals and plants to go extinct 1,000 times FASTER than their natural rate, warn scientists (Adam)

Despite decades of effort from conservationists, including a fake Tinder profile for the animal dubbed ‘the most eligible bachelor in the world’, Sudan proved an unwilling mate and died – the last male of his kind.

His daughter and granddaughter remain – but, barring some miraculously successful IVF, it is only a matter of time.

Gold & Silver

Click to read the PM Daily Market Commentary: 7/9/18

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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One Comment

  • Wed, Jul 11, 2018 - 5:45am



    Status Silver Member (Offline)

    Joined: Jul 30 2009

    Posts: 2954

    Global debt load at a record $247 trillion in Q1 -IIF


    Global debt load at a record $247 trillion in Q1 -IIF

    Reuters-21 hours ago
    NEW YORK, July 10 (Reuters) – The amount of debt held by both mature and emerging markets tracked by the Institute of International Finance rose to a record …
    The report released on Tuesday by the IIF, a global bank lobbying group, said the ratio of debt to gross domestic product of these nations, which include the Group of Seven industrialized nations and the majority of emerging market economies, increased to 318 percent. That is the first quarterly increase in the debt-to-GDP ratio since the third quarter of 2016.

    Up to 1 million households ‘on the edge’ of mortgage default by …(Australia)

    ABC News-14 hours ago
    Up to 1 million households ‘on the edge’ of mortgage default by September, …. just to relieve household debt stress, but also to keep the entire economy afloat.


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