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    Daily Digest 7/21 – Why Foreign Buyers Are Fleeing U.S. Housing Market, Will Gulf Tension Spiral Out Of Control?

    by Daily Digest

    Sunday, July 21, 2019, 7:55 AM



Why foreign buyers are fleeing the U.S. housing market (Adam)

For the seventh year straight, China surpassed other countries to purchase the most U.S. residential property, accounting for $13.4 billion worth of real estate purchases. But, that was a 56% drop from the previous 12 months. “They are limiting Chinese nationals from how much money they can take out of the country. And therefore, there is less financial capacity for Chinese to buy here in the U.S.,” said Yun.

Will tension in the Gulf spiral out of control? (tmn)

Iranian Revolutionary Guards detained a British vessel in the Strait of Hormuz on Friday, two weeks after an Iranian tanker was siezed just off the coast of Gibraltar by the UK.

Tehran said the Stena Impero was involved in an accident with an Iranian fishing boat.

Elon Musk is making implants to link the brain with a smartphone (Sparky1)

“The interface to the chip is wireless, so you have no wires poking out of your head. That’s very important,” Musk added.

Trials could start before the end of 2020, Musk said, likening the procedure to Lasik eye correction surgery, which requires local anesthetic.

Health Insurers Make It Easy for Scammers to Steal Millions. Who Pays? You. (tmn)

By the time the authorities stopped Williams, three years had passed since Lankford had discovered the text messages. In total, records show, he ran the scheme for more than four years, fraudulently billing several of the nation’s top insurance companies — United, Aetna and Cigna — for $25 million and reaping about $4 million in cash.

The Economist Who Would Fix the American Dream (jdargis)

In 2013, Chetty released a colorful map of the United States, showing the surprising degree to which people’s financial prospects depend on where they happen to grow up. In Salt Lake City, a person born to a family in the bottom fifth of household income had a 10.8 percent chance of reaching the top fifth. In Milwaukee, the odds were less than half that.

Brexit funder Arron Banks threatens Netflix over Great Hack documentary (TS)

“The legal claim against Ms Cadwalladr, issued on 12 July by lawyers acting for Arron Banks, is another example of a wealthy individual appearing to abuse the law in an attempt to silence a journalist and distract from these issues being discussed by politicians, the media and the public at a critical time in the life of our democracy,” the letter says.

We Went to the Moon. Why Can’t We Solve Climate Change? (jdargis)

And the moon shot had a clearly defined goal: Land on the moon. A finish line for fighting climate change is less clear. Back to 350 parts per million of carbon dioxide in the atmosphere? (We have already passed 412 parts per million.)

How Two Big Earthquakes Triggered 16,000 More in Southern California (tmn)

The 6.4-magnitude earthquake on July 4 was a precursor, or foreshock, to the much larger 7.1-magnitude quake the next evening, which released about 11 times more energy than the first. It is not unusual for two strong quakes to occur on related faults within a few days of each other, but it is relatively uncommon for the second to be larger than the first.

Gold & Silver

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

Provided daily by the Peak Prosperity Gold & Silver Group

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