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    Daily Digest 8/22 – 22 TX Towns Hit With Ransomware Attack, What Happens In A Recession?

    by Daily Digest

    Thursday, August 22, 2019, 8:15 AM


Economy

Italy’s Government Collapses, Turning Chaos Into Crisis (Sparky1)

Mr. Salvini may yet get his wish. But for now there remains the chance that his lengthening list of political enemies could form a new coalition government that freezes him out of power. At least immediately, things haven’t gone as Mr. Salvini had planned.

What Happens In A Recession? (tmn)

This column is not in the business of forecasting recessions, based on inverted yield curves or any other form of augury. But when enough credentialed auguries suddenly think one might be possible, it seems prudent to speculate about the consequences if they turn out to be correct. So let’s imagine what might follow if, sometime this winter, our post-2008 economic expansion finally ends.

Mortgage Market Reopens to Risky Borrowers (Adam)

More than a decade after home loans triggered the worst financial crisis in a generation, the strict lending requirements put in place during its aftermath are starting to erode. Home buyers with low credit scores or high debt levels as well as those lacking traditional employment are finding it easier to get credit.

22 Texas Towns Hit With Ransomware Attack In ‘New Front’ Of Cyberassault (Thomas R.)

Two cities so far have come forward to say their computer systems were affected. Officials in Borger in the Texas Panhandle, said the attack has affected city business and financial operations. Birth and death certificates are not available online, and the city can’t accept utility payments from any of its 13,25o residents. “Responders have not yet established a time-frame for when full, normal operations will be restored,” city officials said.

‘I am the Chosen One,’ Trump proclaims as he defends trade war with China (Sparky1)

“I was put here by people,” the president said. “I was put here by people to do a great job. And that’s what I’m doing.”

Earlier Wednesday, Trump retweeted a right-wing pundit’s flattering, messiah-flavored comments about the president’s support in Israel.

You Can Finally See All Of The Info Facebook Collected About You From Other Websites (Thomas R.)

Facebook collects information about its users in two ways: first, through the information you input into its website and apps, and second, by tracking which websites you visit while you’re not on Facebook. That’s why, after you visit a clothing retailer’s website, you’ll likely see an ad for it in your Facebook News Feed or Instagram feed. Basically, Facebook monitors where you go, all across the internet, and uses your digital footprints to target you with ads. But Facebook users have never been able to view this external data Facebook collected about them, until now.

The dog is one of the world’s most destructive mammals. Brazil proves it. (Thomas R.)

It’s a question more researchers are beginning to ask in a country where there are more dogs than children — and where dogs are quickly becoming the most destructive predator. They’re invading nature preserves and national parks. They’re forming packs, some 15 dogs strong, and are hunting wild prey. They’ve muscled out native predators such as foxes and big cats in nature preserves, outnumbering pumas 25 to 1 and ocelots 85 to 1.

Mother dies of Ebola in Congo’s South Kivu province, baby under care (Sparky1)

The mother and her child are the first cases to have been detected in the province, increasing fears of the disease spreading throughout the country. Health officials are tracking and vaccinating those who came into contact with the patients.

Florida officials are investigating why panthers are seen stumbling and falling down (Sparky1)

Florida panthers and bobcats are the only two wild cat species found in the state. There are only 120 to 230 adult panthers in the population, and they are listed on the Endangered Species Act. Determining the cause of the disorder can help officials minimize the impact it will have on the panther’s population.

Buy Physical Gold ‘At Any Level’ Says Mobius As It Will Go ‘Up, Up And Up’ (Cornelius999)

Accumulating bullion will reap long-term rewards as leading central banks loosen monetary policy even more and print currency “like crazy”

Texas shale towns grapple with growth as oil-bust fears fade (Thomas R.)

That hesitance is fading fast as oil majors make ever-larger and longer-term commitments to drill in the Permian Basin and residents grow weary of traffic jams on once-rural roads, long waits for medical appointments, pricey housing and overcrowded schools. Local governments, industry and foundations are joining forces to tackle the region’s overwhelmed infrastructure and public services.

How Much Crude Oil Has The World Really Consumed? (Thomas R.)

But that’s just the current daily average based on EIA data from 2016. Today, estimates are that we are chewing through 100 million barrels per day or more. But that hasn’t always been the case.

According to BP’s Statistical Review of World Energy, consumption has been on a steep uphill trajectory for decades, starting at about 40 million barrels per day consumed in 1969.

Shale Bleeds Cash Despite Best Quarter In Years (Thomas R.)

“Last quarter’s cash performance—just a hair over breaking even—would count as a bitter disappointment in virtually any other sector of the economy,” the report stated. “But for an industry that has posted negative cash flows for a decade, these mediocre results represent a financial high-water mark.”

The Global Food Supply is Delicate. Climate Change Is Making Things Worse. (blackeagle)

Despite the progress in output, however, climate change has already begun to weaken what’s known as “food security,” or the availability of food and one’s access to it. The report, complied by over 100 scientists from 52 countries, points to prior studies that have analyzed both industrial and individual farming and found declines in crop production “related to rising temperatures and changes in precipitation.”

Smoke from Amazon wildfires plunges Sao Paulo into darkness in middle of day (Sparky1, Thomas R.)

The World Meteorological Organization said Tuesday on Twitter that atmospheric monitoring data shows smoke from fires across the Amazonian region has caused smoke to reach the Atlantic coast, including Sao Paulo.

Many took to Twitter on Monday to post photos and videos of the darkened skies over the city.

New plastic pollution formed by fire looks like rocks (tmn)

This is pyroplastic—a newly described form of plastic pollution that was transformed by fire. Even geologists are often confounded by its appearance. To Andrew Turner, an environmental scientist at the University of Plymouth who described the substance in a recent paper in Science of the Total Environment, that suggests pyroplastics may be hiding in plain sight all over the world.

Gold & Silver

Click to read the PM Daily Market Commentary: 8/20/19

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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4 Comments

  • Fri, Aug 23, 2019 - 5:20am

    #1

    Boomer41

    Status Bronze Member (Offline)

    Joined: Nov 30 2008

    Posts: 115

    1+

    How Much Oil is Left?

    The above article from oilprice.com contains a lot of information. Distilling out the big numbers, it states that total estimated world oil consumption, from 1950 to 2018, is estimated to have been 1.457 trillion barrels. It also states that we have 1.497 trillion barrels left – so we have already consumed almost exactly half of all the oil that ever was.
    Currently (2016) we are consuming  96.92 barrels per day i.e 35.4 billion barrels/year and this rate is increasing.
    Some simple math: 1.497 trillion divided by 35.4 billion = number of years of oil left at the present rate. Answer: 42 years 3 months and 10 days. My youngest granddaughter will be only 51 years old.
    Obviously, many years before all the oil is gone, probably within the next 20 years, production rates will fall precipitously and the price will increase astronomically. Not to mention, that we have nothing which comes anywhere near to replacing oil for our energy needs. (Wind, solar, renewable resources? Forget it. Not even close. Coal mining stocks will be a good investment, but think of the pollution!)
    Our only hope (with present technology) is nuclear. With the thorium reactor a clear favorite. https://www.youtube.com/watch?v=uK367T7h6ZY. It would be logical for world governments to be closely focussed on this upcoming dilemma, but it doesn’t appear to be even on their radar.
    I will be long gone before this becomes a catastrophic crisis, but I thought you younger folks might appreciate a ‘heads-up’

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  • Fri, Aug 23, 2019 - 5:25am

    Reply to #1

    Boomer41

    Status Bronze Member (Offline)

    Joined: Nov 30 2008

    Posts: 115

    Edit

    Currently (2016) we are consuming 96.92 million barrels per day

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  • Fri, Aug 23, 2019 - 6:10am

    #2

    Chris Martenson

    Status Platinum Member (Offline)

    Joined: Jun 07 2007

    Posts: 4763

    Re: How much oil is left?

    Boomer, I read that piece and found it purposely misleading.

    The time period form 1950 to now…what an odd time frame.  Also, it misleads by causing a similar time-frame to be imagined to the future.

    The truth is that half of all the oil ever consumed was consumed in just the past 22 years.  Which means, at the current pace of consumption growth (~1.5%/yr), an amount equivalent to the entire 1,497 Gb will be consumed in just the next 32 years.

    So that will happen by the time your youngest granddaughter is 41.

    Ain’t exponential growth fun?

    Of course that probably all won’t even come to pass.  That would take yearly consumption from 35.4 Gb/yr to 57 Gb/yr.

    US shale will peak no later than 2025 (EIA) but possibly as soon as 2021 (private analysis).  Either way, it’s loooooOoooong in the rear-view mirror by 2050.

    Ditto every single other oil producer we currently know about.  So it’s going to be a tall order to replace all that and find an additional 22 Gb/yr on top of that.

    Ain’t gonna happen.

    So the exponential growth model is kaput.  Which means everything we think we know about how stocks and bonds and banking work is also kaput somewhere along the way.

    It will be a gigantic miracle if humans avoid going to war somewhere along that path.

     

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  • Fri, Aug 23, 2019 - 9:47am

    #3

    Boomer41

    Status Bronze Member (Offline)

    Joined: Nov 30 2008

    Posts: 115

    How Much Oil is Really Left?

    Chris, I bow to your superior analysis. I thought the situation was extremely bad. You just showed that it is even worse than that. I used to be confident that I will not live to see the real SHTF moment. But now I am not so sure.

    A close friend, who buys and sells power for a large N. American power company just read my post and PM’d me adding that  solar and wind power, because of their non-continuous nature, require the equivalent of a full time fossil fuel plant, on standby, to back them up. Nobody seems to count that standby plant in the cost of solar and wind or the reason why it is necessary.

     

     

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