• Daily Digest

    Daily Digest 9/30 – U.S. Interest Rates ‘Going Negative,’ Email Spoofing Costing Businesses Billions

    by Daily Digest

    Monday, September 30, 2019, 8:00 AM


Economy

This upcoming event could turn the market into a ‘minefield,’ says Peter Boockvar (Thomas R.)

“While [Carnival executives] did cite a stronger dollar [and] higher oil prices” as reasons for the pain, “they also talked about softness in Europe and Asia,” Boockvar said. “We saw FedEx a couple weeks ago, and while some of FedEx’s issues are company-specific, I think it’s a great bellwether for its … supply chains around the world, and what they say about the macro environment I think is very important.”

Yemen’s Houthi rebels release Saudi attack video (Sparky1)

Saree said the offensive 72 hours earlier had defeated three “enemy military brigades”, leading to the capture of “thousands” of troops, including Saudi army officers and soldiers, and hundreds of armoured vehicles.

He said the prisoners “will be treated according to the ethics and the customs on the basis of a deal to exchange the POWs with the aggressors.”

Ron Paul: US interest rates are going negative, and the Fed can’t stop it (Thomas R.)

“You can’t predict exactly where the creation of credit goes,” said Paul. “We have a ton of inflation with all that QE [quantitative easing]. And, every time you lower interest rates below market levels and create new credit, that’s a bubble.”

Annual Financial State of the States Report (Thomas R.)

Unlike the Federal government, the states’ debt is denominated in Federal currency so MMT cannot save them without continuous, massive Federal help in the form of inflation and bailouts which would largely be the same thing.
I don’t foresee public sector pensions being trimmed until the taxpayer looks like a Holocaust victim. Expect a lot of internal migration and possibly emigration.

Climate Risk in the Housing Market Has Echoes of Subprime Crisis, Study Finds (tmn)

In a paper to be released Monday, the researchers say their findings show “a potential threat to the stability of financial institutions.” They warn that the threat will grow as global warming leads to more frequent and more severe disasters, forcing more loans to go into default as homeowners cannot or would not make mortgage payments.

Your health insurance costs are about to go up in 2020 (Thomas R.)

This figure combines workers’ and employers’ spending on insurance. Employees are expected to shoulder about $4,500 in costs next year, including out-of-pocket spending, the group found.

The organization, which represents large employers’ perspectives on health-care policy, polled 147 large employers to get their perspectives on health-care trends.

US census data reveals highest foreign-born population share in over a century (Thomas R.)

Some 44.7 million people living in the U.S. were not born in the country, equivalent to 13.7 percent of the population. Around 22 million of those were not born in the U.S. and were “not a U.S. citizen,” figures which come in the midst of a political debate over whether the 2020 census should include a U.S. citizenship question.

State Department ratchets up Clinton email probe: report (Thomas R.)

Revelation of the renewed effort comes the same week that Democrats in Congress launched an impeachment investigation into Trump over accusations he tried to arm-twist the Ukrainian president into providing dirt on one of his main 2020 election rivals, Joe Biden.

State Department officials deny the renewed email effort has any political motivation.

Rudy Giuliani: Trump Is Being “Framed,” This Document Shows Ukrainian Prosecutor Saying Under Oath He Was Fired For Investigating Hunter Biden (Thomas R.)

Shokin alleges that he was “staunchly politically unaffiliated” and that then-President of Ukraine Petro Poroshenko ordered him to resign due to pressure from Joe Biden who was threatening to withhold $1 billion in subsidies to Ukraine “until I was removed from office.”

Spoofing emails: The trickery costing businesses billions (Thomas R.)

Cyber-criminals simply spoof the email address of a company executive and send a convincing request to an unsuspecting employee.

The message looks just as though it has come from the boss – but it has been sent by an imposter.

New blood test capable of detecting multiple types of cancer (edelinski)

The new test looks for DNA, which cancer cells shed into the bloodstream when they die. In contrast to “liquid biopsies,” which detect genetic mutations or other cancer-related alterations in DNA, the technology focuses on modifications to DNA known as methyl groups. Methyl groups are chemical units that can be attached to DNA, in a process called methylation, to control which genes are “on” and which are “off.” Abnormal patterns of methylation turn out to be, in many cases, more indicative of cancer – and cancer type – than mutations are. The new test zeroes in on portions of the genome where abnormal methylation patterns are found in cancer cells.

Association Between Maternal Fluoride Exposure During Pregnancy and IQ Scores in Offspring in Canada (Sparky1)

Between 2008 and 2011, the Maternal-Infant Research on Environmental Chemicals (MIREC) program recruited 2001 pregnant women from 10 cities across Canada. Women who could communicate in English or French, were older than 18 years, and were within the first 14 weeks of pregnancy were recruited from prenatal clinics. Participants were not recruited if there was a known fetal abnormality, if they had any medical complications, or if there was illicit drug use during pregnancy. Additional details are in the cohort profile description.

There’s plenty of oil supply, says markets pro (Thomas R.)

The “Futures Now” team, Scott Nations and Jim Iuorio, discuss the wild day for crude oil after Trump denied Iran’s claim U.S. offered to remove sanctions with CNBC”s Rahel Solomon.

Philanthropists raise hundreds of thousands of dollars for groundbreaking Climate Emergency Fund (edelinski)

Neilson decided to take more a more aggressive role in fighting climate change after he was directly affected by a climate change disaster last year. Neilson and his wife and child had to flee their home in California during the state’s deadly wildfires.

“In order to tackle the problem, we need to first define it accurately and force our leaders to declare a climate emergency,” says the CEF website.

Historic September snowstorm hits Montana as governor declares “winter storm emergency” (Thomas R.)

And in Spokane, Washington, the storm marked the first time the city recorded snow on this date since officials began keeping records in 1881. Forecasters expect the winter weather to continue through the night.

“Hunker down, stay warm, and try to avoid travel,” Britton advised.

‘Revolutionary’ pods finding a new purpose for survivors of brutal disaster (Thomas R.)

One tent can house six people at a festival. In the Bahamas, a family of 11 can sleep in a pod comfortably, Bear told the news outlet. SHIFTPOD advertises that the tents are insulated, heat-reflective, rainproof and dustproof.

A single tent can cost up to $1,800, according to the SHIFTPOD website. Insomniac estimates the effort will cost the company more than $1 million and is starting a GoFundMe to help fund its efforts.

Gold & Silver

Click to read the PM Daily Market Commentary: 9/27/19

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

  • Mon, Sep 30, 2019 - 5:08pm

    #1
    Doug

    Doug

    Status Platinum Member (Offline)

    Joined: Oct 01 2008

    Posts: 1374

    1+

    Swamp clearing good news

    Rep. Chris Collins (R), NY 27th, the first congressman to endorse Trump, just resigned pending his guilty plea tomorrow to insider trading.

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  • Tue, Oct 01, 2019 - 9:42am

    #2

    travissidelinger

    Status Member (Offline)

    Joined: Nov 17 2010

    Posts: 74

    4+

    The Houthis and Yemenis kick butt

    I see the Houthis video above. This seems like a really important story.

    https://www.zerohedge.com/geopolitical/three-saudi-brigades-reportedly-annihilated-devastating-houthi-offensive-saudi-arabia

    Is anyone else following this?

    -Travis

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  • Tue, Oct 01, 2019 - 9:50am

    #3

    Chris Martenson

    Status Platinum Member (Offline)

    Joined: Jun 07 2007

    Posts: 4738

    5+

    Houthis Kick KSA Butt

    Yeah, Travis, I’m following it.  The near complete media blackout is how I know it’s important to track.

    The media is busy trying to spin the tale that the KSA has all but fixed the drone struck oil infrastructure and that MBS/KSA is speaking of peace and cease fires with the Houthis.

    None of that is at all consistent with one (or many?) KSA battalions getting creamed in a  major Houthi operation.

    Initial reports indicate that the forces of the Saudi-led coalition were lured into vulnerable positions and then, through a pincer movement conducted quickly within Saudi territory, the Houthis surrounded the town of Najran and its outskirts and got the better of three Saudi brigades numbering in the thousands and including dozens of senior officers as well as numerous combat vehicles. This event is a game changer, leaving the US, Mike Pompeo and the Israelis and Saudis unable to lay the blame on Iran as all this took place a long way from Iran.

    Yeah, there’s your problem in bold there.

    So…chirping crickets from the MSM. Anything they might print about it would be against what the US State Department would like to communicate, so it goes completely unremarked upon.

    The condition of western media is now so degraded that it is now unable to offer up anything that runs counter to the state-sponsored narrative.  Pathetic, truly.

    Say…anybody hear anything about the Epstein murder investigation lately?  Me neither.  Anybody hear of any of the prominent people implicated being even asked any questions by the FBI?  Me neither.

    Anybody hear of low level child porn stings and busts?  Yep. lots and lots of them. Every day.

    Must be utterly demoralizing to work at the FBI these days.  I mean for agents who have integrity.

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  • Tue, Oct 01, 2019 - 12:10pm

    Reply to #3
    Time2help

    Time2help

    Status Platinum Member (Offline)

    Joined: Jun 08 2011

    Posts: 2268

    1+

    Re: Demoralizing work

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