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    Daily Digest 9/14 – The Rich Live Longer Than The Poor, CA Real Estate Boom Is Over – What Now?

    by Daily Digest

    Saturday, September 14, 2019, 8:32 AM


Economy

Private Equity Tries to Protect Another Profit Center (edelinski)

Twenty-five states have passed laws with limited protection for patients from out-of-network bills, usually for emergency room or urgent-care services; 20 more states are considering legislation. But these laws do not cover self-insured employer plans, which can only be regulated by the federal government. These plans cover an estimated 61 percent of workers who have private insurance, up from 44 percent 20 years ago. That means Congress must step in to protect insured patients from unfair and unexpected medical charges.

Paris commuter chaos as metro workers strike over pension reform (Sparky1)

Unions want the strike, expected to be the largest since 2007 in Paris, to send a warning to Macron’s government as it launches one of the most perilous reforms of his presidency — to merge France’s 42 different pension systems into a single points-based system.

How does France’s pension system compare? (Sparky1)

Graphic

Hong Kong exchange vows to press on with $39 billion LSE bid after rebuff (Sparky1)

HKEX’s valuation of the LSE falls “substantially short” and the “ongoing situation in Hong Kong” adds to uncertainty for shareholders, the London bourse added, a reference to weeks of pro-democracy street protests in the former British colony.

“Accordingly, the board unanimously rejects the conditional proposal and, given its fundamental flaws, sees no merit in further engagement,” the LSE said in a statement.

The California Real Estate Boom Is Over. What Now? (Adam)

The end of the boom in California also poses troubling questions for investments elsewhere in the country. Will other tech economies follow suit? What are the prospects for booming markets in Arizona, Nevada, Utah, Texas and Florida? And will panic selling drive down prices everywhere, as it did in 2008, pushing an already weakened national economy into recession?

Publix joins other retailers in asking patrons not to openly carry guns in its stores (Thomas R.)

Lakeland, Florida-based Publix “respectfully requests that only law enforcement officials openly carry firearms in our stores,” a spokesperson told CBS MoneyWatch in an email. The grocer operates in seven states, including Alabama and North Carolina, where openly displaying weapons is legal.

Asian markets move higher on hopes for a cooling trade war (Thomas R.)

Central banks in Japan, Taiwan and Indonesia will all meet next week, too. Japan’s interest rates are already very low, and investors are looking out to see whether the central bank will ease its monetary policy even further in the future.

5 Reasons To Bet On A China Trade Deal — Not Against The Dow Jones (Thomas R.)

The move that kicked off last week’s revived stock market rally spoke volumes. Beijing yielded to a key demand of pro-democracy protests, allowing Hong Kong leader Carrie Lam to withdraw a bill that would permit extradition of city residents.

Why Can’t I Have This? (thc0655)

But then government got into the car design business. First, with regard to emissions – which were “uncontrolled” before 1967 – and then (the precedent having been established) saaaaaaaaaaaaaaaaaaaaaaaaaaafety. Today, the government micromanages the car industry and effectively dictates vehicle design, with the result being that new cars are expensive, homogenous and largely not much fun anymore.

The rich are different from you and me — they live a lot longer (Sparky1)

The numbers are actually appalling. Of Americans who were between the ages of 51 and 61 in 1992, 80% of the rich, college-educated Americans were still alive, while only 50% of the poorest 20% were. The other 60%, the three quintiles in the middle, were, well, exactly in the middle, with 65% still alive. What’s the difference?

Carcinogens Have Infiltrated the Generic Drug Supply in the U.S. (VeganDB12)

The chemical N-Nitrosodimethylamine, or NDMA, is a yellow liquid that dissolves in water. It doesn’t have an odor or much of a taste. It’s known to cause cancer in animals and is classified as a probable carcinogen in humans—it’s most toxic to the liver. A single dose of less than a milligram can mutate mice cells and stimulate tumors, and 2 grams can kill a person in days. An Oklahoma man poisoned the family of an ex-girlfriend in 1978 by pouring a small vial of NDMA into a pitcher of lemonade. In 2018 a graduate student in Canada sickened a colleague by injecting the chemical into his apple pie.

Huge Blow To US Farmers: China Heads To Argentina For Soy Meal In Landmark Deal (Don R.)

Argentina’s Agriculture Ministry said in a statement on Tuesday that after two decades of discussions, the Asian giant will begin imports of soy meal in the near term.

The deciding factor for the landmark deal was the US-China trade war, which strengthened Argentina’s hand after China halted all US agriculture product imports this summer, prompting China to source more agriculture products from South America.

The Great Flood of 2019: A Complete Picture of a Slow-Motion Disaster (newsbuoy)

To measure the scope of the spring floods, The New York Times analyzed satellite data from the Joint Polar Satellite System using software, developed by government and academic researchers for flood detection, that is frequently used in disaster response.

Gold & Silver

Click to read the PM Daily Market Commentary: 9/12/19

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

  • Sat, Sep 14, 2019 - 2:54pm

    #1

    sand_puppy

    Status Platinum Member (Offline)

    Joined: Apr 13 2011

    Posts: 2004

    3+

    The Real Battle is Between the Oligarchy and the Embattled Working Class

    Despite the media’s obsession on gender, race and sexual orientation, the real and determining divide in America and other advanced countries lies in the growing conflict between the ascendant upper class and the vast, and increasingly embattled, middle and working classes.

    The First Estate, once the province of the Catholic Church, has morphed into what Samuel Coleridge in the 1830s called “the Clerisy,” a group that extends beyond organized religion to the universities, media, cultural tastemakers and upper echelons of the bureaucracy.

    The role of the Second Estate is now being played by a rising Oligarchy, notably in tech but also Wall Street, that is consolidating control of most of the economy.

    …. the country’s richest classes has gobbled up an astonishing 58.7% of all new wealth in the U.S., and 41.8 percent of total income growth during 2009-2015 alone.

    In this period, the Oligarchy has benefited from the financialization of the economy and the refusal of the political class in both parties to maintain competitive markets. As a result, American industry has become increasingly concentrated. For example, the five largest banks now account for close to 50 percent of all banking assets, up from barely 30 percent just 20 years ago.

     

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  • Sat, Sep 14, 2019 - 3:43pm

    #2
    Nate

    Nate

    Status Silver Member (Offline)

    Joined: May 05 2009

    Posts: 337

    1+

    Grantham 7 7ear forcast

    One of my favorites is Grantham Mayo Van Otterloo, or GMO. Here are their latest 7-year asset class forecasts, as of July 31, 2019.


    Source: GMO

    https://www.mauldineconomics.com/frontlinethoughts/black-hole-investing

     

     

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