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    Daily Digest 9/28 – A Low And Distant Paradise, U.S. Stocks Fall for 5th Day

    by DailyDigest

    Monday, September 28, 2015, 2:19 PM

Economy

Victorious Catalan separatists claim mandate to break with Spain (jdargis)

Both had said before the vote that such a result would allow them to unilaterally declare independence within 18 months, under a plan that would see the new Catalan authorities approving their own constitution and building institutions like an army, central bank and judicial system.

Addressing supporters of Junts pel Si in central Barcelona, Mas said a “democratic mandate” now existed to move forward with independence.

Fed Scared to Raise Rates: Nomi Prins (pinecarr)

Prins goes on to point out, “Now, you have this heightened volatility. Now, you have this heightened negativity. There is only so much of an amount you can inflate asset bubbles before they destruct, and that’s what we are seeing now in the rising volatility in the last six months, this transition to destruction.”

The Final Flush Is At Hand (reflector)

Money Velocity has crashed and so has global trade. Leveraged commodity trades have blown up and left many sectors dysfunctional. Has anyone stopped to think who (other than the sectors themselves) stands to lose with $45 oil? Maybe the lenders? Would this not tighten credit even further? Why do a dozen “advanced” economies already have stock markets in bear (minus 20%+) market territory?

U.S. Stocks Fall for 5th Day as Commodity, Biotech Shares Slide (jdargis)

“There’s no conviction in this market whatsoever and there hasn’t been for a very long time,” said Michael Ingram, a market strategist at BGC Partners in London. “If the Fed appears to be so hesitant, why should traders who are putting money to work on a daily basis be any more confident? The other issue is what’s going on in China.”

Shell Abandons Disappointing Offshore Alaskan Well (jdargis)

Shell’s efforts to drill in Alaska have long seemed quixotic. The company’s decade-long project has been dogged by the opposition of environmental activists, who have said oil and gas production would pose unacceptable risks in the fragile Arctic. Shell also encountered mishaps; in 2012 it drilled two shallow wells, but a drilling ship, the Kulluk, ran aground.

EV Market Has An Unlikely Backer (Evan K.)

With hardly 500 electric cars sold so far, EVs have proven to be quite unpopular among the Russian public. This means that the Russian government has an uphill struggle ahead to ignite its domestic EV market. The decision taken by the Russian Prime Minister, as part of his ‘green initiative,’ is intended to kick start the EV market in Russia, but introducing EV charging stations alone might not help the case.

A Low and Distant Paradise (jdargis)

People speak of my home state as though it were uniform in its failings. This is untrue. The distance between Miami and Pensacola is roughly the distance between New York City and Myrtle Beach, South Carolina. About 75 percent of South Florida’s residents live along the coast. As others have noted, “Florida’s coastal development restrictions have not stopped development as much as they have made it more expensive.” In Miami, as in much of the country, the environment is treated as a function of economy, where scarcity implies only that a good will cost more to obtain despite its irreplaceability.

Two degrees of warming closer than you may think (TOF)

2014 was the hottest year in the instrumental record. The US government agencies NASA and NOAA announced the 2014 record on 16 January, noting that “the 10 warmest years in the instrumental record, with the exception of 1998, have now occurred since 2000”.

Gold & Silver

Click to read the PM Daily Market Commentary: 9/25/15

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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6 Comments

  • Mon, Sep 28, 2015 - 3:23pm

    #1

    saxplayer00o1

    Status Silver Member (Offline)

    Joined: Jul 30 2009

    Posts: 2935

    Police training canceled because of Illinois budget crisis

    Taiwan's central bank: in a bind

    Financial Times16 minutes ago
    Last Thursday, Taiwan's central bank cut its benchmark interest rate for the first time in more than six and a half years. The move would not have happened if the …

    IMF currency study shows power of devaluation

    The Guardian1 hour ago
    He drafted in a new central bank chief, who embarked on a massive programme of electronic money printing similar to the quantitative easing programmes …
     

    Bank of Japan Chief Pressures Businesses to Raise Wages

    Wall Street Journal – ‎3 hours ago‎
    In a speech to executives, Mr. Kuroda betrayed frustration at one of the most vexing problems facing Japan's economy: getting businesses to put their enormous cash piles to more-productive uses. “Corporate earnings have improved and the labor market is
     

    Police training canceled because of Illinois budget crisis

    Chicago Tribune20 hours ago
    Police departments across Illinois say the state budget stalemate has left them struggling to provide necessary training to officers on everything from how to deal …
     

    Treasury Bill Market Upended as Debt Debate Punishes Savers

    Bloomberg6 hours ago
    All that comes as Pacific Investment Management Co. says regulators' moves to wring out risk in the financial system may add a trillion dollars of demand to …

     

    Zero inflation looms for ECB as oil drop counters stimulus

    Kathimerini1 hour ago

    Draghi acknowledges that while the central bank's 1.1 trillion euro ($1.2 … In September, the ECB cut its outlook for prices and economic growth through 2017.

     

    Investors Pull Back From Junk Bonds

    Wall Street Journal11 hours ago

    Altice on Friday sold $4.8 billion of junk bonds to fund its $10 billion purchase of … earlier this month, Altice expected to sell $6.3 billion of debt, investors said.

    US Bonds Flash Warning Sign

    Wall Street Journal18 hours ago
    Spreads in investment-grade corporate bonds—debt from companies rated … Corp. from $6.3 billion to $4.8 billion and paid higher yields than initially expected, …
     

    Brazil worried about firms with debt in US dollars

    The Star Online10 hours ago
    NEW YORK: Brazil is “extremely concerned” about companies that have debt in … this year's recession, compared to past crises, because it has US$370 billion …

    Chinese Coal Miner Longmay Slashes Workforce to Survive Glut

    Bloomberg – ‎4 hours ago‎
    Chinese coal producer Heilongjiang Longmay Mining Group will cut 100,000 jobs in the next three months, China Daily reported, in a sign of how slumping commodity demand and a push away from the fuel is hurting domestic suppliers. The cuts mark a more …

    Saudi Arabia Withdraws Billions Of Dollars From Asset Managers To Cut Deficit

    International Business Times – ‎17 hours ago‎
    Saudi Arabia has withdrawn tens of billions of dollars from global asset managers in recent months in an effort to cut its massive deficit caused by falling oil prices over the past year, Financial Times reported Sunday. The country's banks are
     

    Russian Oil Producers Head for Tax Showdown Amid Output Warnings

    Bloomberg – ‎Sep 27, 2015‎
    … oil extraction taxes, said two company representatives who asked not be be identified because the meeting isn't public. The ministry wants to boost revenue by about 600 billion rubles ($9.1 billion) in 2016 alone to mitigate the biggest budget
     

    No easy fixes as Russia's budgetary troubles mount

    Reuters – ‎3 hours ago‎
    With the price now below $50, and not expected to recover much in the years ahead, Russia faces an annual tax shortfall of around $50 billion

    Brazil Real Drops as China Manufacturing Slump Adds to Pessimism

    Bloomberg2 hours ago
    Brazil's real dropped as fresh evidence of a slowdown in manufacturing in … and a political stalemate that has imperiled efforts to shore up the country's budget.
     
     

     

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  • Mon, Sep 28, 2015 - 6:35pm

    #2

    Time2help

    Status Platinum Member (Offline)

    Joined: Jun 08 2011

    Posts: 2225

    Can't touch this

    ***Sigh***

     

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  • Mon, Sep 28, 2015 - 7:58pm

    #3
    Nate

    Nate

    Status Silver Member (Offline)

    Joined: May 05 2009

    Posts: 316

    chocolate or silver?

    https://www.youtube.com/embed/bYhTFz_SGw0

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  • Mon, Sep 28, 2015 - 8:22pm

    #4

    Mark Cochrane

    Status Platinum Member (Offline)

    Joined: May 24 2011

    Posts: 1189

    Swiss authorities will probe the fixing of metal prices

    For what it is worth….

     

    Swiss authorities will probe the fixing of metal prices

    Authorities in Switzerland have announced a probe into global banks over the suspected manipulation of the price of precious metals.

    The Swiss Competition Commission (Comco) said it will investigate seven banks including HSBC and UBS.

    Comco said it had "indications" that the banks had "possibly concluded illegal competition defying deals".

    US authorities have already sued several banks for metal price fixing.

    Comco said its investigation will include Barclays, Deutsche Bank, Morgan Stanley, Mitsui, and Swiss bank Julius Baer, over what it said were "possible price fixing deals, especially in connection with spreads".

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  • Tue, Sep 29, 2015 - 1:37pm

    #5
    Edwardelinski

    Edwardelinski

    Status Bronze Member (Offline)

    Joined: Dec 23 2012

    Posts: 317

    Staggering losses rolling in

    Its only been weeks since the Volkswagen announcement and the losses are breathtaking.Bloomberg reporting that the pension funds in this county have been hit hard.Calpers,the NY state pension funds,Michigan police and fire have taken it on the chin to the tune of hundreds of millions.Who will have to make up the rate of return to the pensioners on there losses?The tax payers of the country,that's who.One company has the power to take the entire global economy down with it!!

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  • Tue, Sep 29, 2015 - 2:17pm

    #6

    Bankers Slave

    Status Silver Member (Offline)

    Joined: Jul 26 2012

    Posts: 513

    The war agenda being waged upon us all.

    A Mark Passio presentation delving into esoteric cultism.

     

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