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Daily Digest 9/26 - What To Watch For At Presidential Debate, What If The Oil Rebound Never Happens?

Monday, September 26, 2016, 8:15 AM

Economy

California dreamin' for Chinese investors in U.S. (Adam)

China has pumped $8 billion into California businesses since 2000, more than in any other state, a recent Rhodium Group study said.

It added that there were 452 Chinese-owned businesses that employed more than 9,500 people in the Golden State as of the end of last year, among them the online commerce giant Alibaba Group and the Internet company Tencent Holdings Ltd.

Trump, Clinton Deadlocked in Bloomberg Poll Before Key Debate (jdargis)

Clinton faces higher expectations as tens of millions of people tune in for a television spectacle that could reach Super Bowl viewership levels. About half, 49 percent, say they anticipate the former secretary of state will perform better, while 39 percent say that for Trump, a real-estate developer and former TV personality.

Ann Selzer, the Iowa-based pollster who oversaw the survey, said there are signs that Clinton’s margins with women and young voters have eroded over the past three months, helping to explain Trump’s gains.

Presidential Debate: What to Watch For as Hillary Clinton and Donald Trump Face Off (jdargis)

With a showman’s flair for generating publicity and a firebrand’s talent for touching the rawest of nerves, Mr. Trump has effectively harnessed the angst of many in the country who are not feeling the effects of the economic upswing, have tired of prolonged wars or have grievances about a changing country.

Meet Mike Morrell—-Hillary’s Favorite Demented, Creepy CIA Warmonger (Aaron M.)

It’s really quite embarrassing on a global scale when members of our own government seem to be deliberately trying to pick fights with people who aren’t interested in fighting with us. If you’ve traveled outside of the United States much, you probably know that we Americans have a rather negative reputation off of our own shores. Now, generally speaking, that isn’t our fault as individuals. You and I don’t create headlines that make waves throughout Europe and Asia.

President Trump's First Term (jdargis)

That is partly exaggeration; rescinding an order that is beyond the “rulemaking” stage can take a year or more. But signing executive orders starts the process, and Trump’s advisers are weighing several options for the First Day Project: He can renounce the Paris Agreement on greenhouse-gas emissions, much as George W. Bush, in 2002, “unsigned” American support for the International Criminal Court. He can re-start exploration of the Keystone pipeline, suspend the Syrian refugee program, and direct the Commerce Department to bring trade cases against China. Or, to loosen restrictions on gun purchases, he can relax background checks.

Blockchain: Many Bankers, Bureaucrats And Lawyers Could Become Redundant (Taki T.)

Ethereum runs on Blockchain’s ledger functionality, similar to Google Docs. “Smart contracts” enclosed in the blockchain allow you to do securely business with people with whom you are not familiar. “An Ethereum contract collect proposals from your backers and submit them through an online voting process. The benefits of owing such a robot to run your enterprise is resistance to external impacts as it is authorized to process in the way it was designed to.”- Ethereum project.

Millions in U.S. Climb Out of Poverty, at Long Last (jdargis)

Poverty declined among every group. But African-Americans and Hispanics — who account for more than 45 percent of those below the poverty line of $24,300 for a family of four in most states — experienced the largest improvement.

What If The Oil Rebound Never Happens? (jdargis)

These, of course, are aggressive scenarios, BNEF concedes. But maybe not. If governments around the world crack down on oil drilling through new taxes and regulation, and also subsidize R&D and the adoption of EVs, all with an eye on climate change, the scenarios could prove to be more of a middle-of-the-road prediction. Major oil spills, or sudden natural disasters could spark a public backlash, demanding deeper reductions in carbon emissions. In other words, the uncertainty around the advancement of clean energy could be on the upside – unforeseen future public policy could very conceivably accelerate EV adoption faster than we can envision sitting here in 2016.

Gold & Silver

Click to read the PM Daily Market Commentary: 9/23/16

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."

11 Comments

saxplayer00o1's picture
saxplayer00o1
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Global debt climbs towards fresh high as companies and countries

 

Global debt climbs towards fresh high as companies and countries ...

Telegraph.co.uk-4 hours ago
dollars Debt issuance rose to $5.02 trillion in the year to September 22, according to Dealogic, putting 2016 on course to beat the all-time high of $6.6 trillion ...

Study: Credit Card Debt on Pace to Reach Record High This Year

ACA International-20 minutes ago
Credit card debt in the second quarter 2016 reached a record high and the overall total for the year is projected to increase $80 billion, according to the latest ...

IMF Says Swiss Have Option to Go More Negative on Interest Rates

Wall Street Journal - ‎3 hours ago‎
ZURICH—The International Monetary Fund said Monday that Switzerland's central bank should consider cutting its already deeply negative deposit rate if needed to ease upward pressure on the franc and reduce reliance on currency intervention. The Swiss ...
 

Mario Draghi and ECB go to WAR with Germany over how to save crumbling Eurozone

Express.co.uk - ‎3 hours ago‎
Mr Schaeuble has long been a vocal critic of ECB's policies, and earlier this year blamed negative interest rates implemented by the bank for the declining popularity of Angela Merkel's ruling party. He has reportedly urged German lawmakers to give Mr ...

Carney's Corporate-Bond Purchases May Worsen Liquidity Squeeze

Bloomberg - ‎7 hours ago‎
Despite those warnings, the bulls say things like tepid U.S. growth and $10 trillion of negative-yielding government debt will keep Treasuries in demand. “It's still attractive of course,” said Hideo Shimomura, the chief fund investor at Mitsubishi UFJ ...

Kuroda repeats he is ready to ease further if conditions are right

The Japan Times - ‎8 hours ago‎
In a speech in Osaka, Kuroda expressed concern over falling prices as the central bank pursues its 2 percent inflation target. He said that deepening the BOJ's negative interest rate and cutting the target for long-term interest rates, a policy adopted ...

IMF welcomes BOJ new policy framework, sees 2 percent inflation ...

Reuters-6 hours ago
IMF Japan mission chief Luc Everaert made the remarks after the BOJ last week switched to targeting short- and long-term interest rates, and dropped its ...
 

Saudi Arabia Injects $5.3 Billion Into Banks to Ease Crunch

Bloomberg - ‎Sep 25, 2016‎
The announcement, which comes as the kingdom prepares for its first international bond sale, is the latest step by the central bank to ease a cash crunch in the banking system. The Saudi Interbank Offered Rate, a key benchmark for pricing loans, has ...

China launches a $52.5 billion restructuring fund for state-owned firms

Yahoo Finance UK-11 hours ago
BEIJING (Reuters) - A private equity fund worth 350 billion yuan (40.45 billion ... China is embarking on a revamp of its massive but debt-ridden state sector, ...

China is BIGGEST threat to world economy and WILL crash soon, Harvard professor warns

Express.co.uk - ‎3 hours ago‎

CHINA'S debt bubble and slowing economy is a huge risk to the rest of the world's financial systems, according to a terrifying warning from a professor of economics at Harvard University. By Lana Clements. PUBLISHED: 14:32, Mon, Sep 26, 2016 ..

Weinberg: Texas' debt shell game will cost taxpayers

Houston Chronicle-20 hours ago

Texas, like nearly every U.S. state, inaccurately reports the state’s debt. Texas currently reports $79.3 billion of debt, but when you factor in all government ..

Michigan Counties on the Verge of Pension Crisis

Mackinac Center for Public Policy-4 hours ago
Michigan's counties are drowning in pension debt and it's time for their leaders to act to ... When governments refuse or are unable to address unfunded pension ...

Monte dei Paschi considering debt-to-equity conversion

Reuters-8 minutes ago
Sources told Reuters last month that Monte dei Paschi may convert the bulk of its subordinated debt into equity to cut back a planned five billion euro ($5.63 ...

More blue-chip pensions are set to shut as costs on course to double to £14bn

Telegraph.co.uk - ‎22 hours ago‎
The cost of running generous pension schemes at Britain's biggest firms is set to double to an unaffordable £14bn-a-year over the next three years, according to a warning from a retirement consultancy. FTSE 100 firms that run defined benefit pensions ...

Traders Skeptical Mexico Can Avoid Downgrade As Debt Surges

Bloomberg-4 hours ago
It costs 0.23 percentage point more to insure Mexico's bonds against nonpayment than debt from lower-rated Panama, based on trading in credit-default swaps.

 

newsbuoy's picture
newsbuoy
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pinecarr's picture
pinecarr
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Nestlé Outbids Another Canadian Town For Control Of Local Water

"It's A Travesty" - Nestlé Outbids Another Canadian Town For Control Of Local Water Supply" @

http://www.zerohedge.com/news/2016-09-26/its-travesty-nestl%C3%A9-outbids-another-canadian-town-control-local-water-supply

Submitted by Nadia Prupis via TheAntiMedia.org,

Corporate giant Nestlé continued its privatization creep on Thursday as it won approval to take over another Canadian community’s water supply, claiming it needed the well to ensure “future business growth.”

Nestlé purchased the well near Elora, Ontario from Middlebrook Water Company last month after making a conditional offer in 2015, the Canadian Press reports.

In August, the Township of Centre Wellington made an offer to purchase the Middlebrook well site to protect access to the water for the community. Consequently, the multinational—which claimed it had no idea the community was its competitor—waived all its conditions and matched the township’s offer in order to snag the well for itself.

Those conditions included conducting pump tests to determine if the watershed met the company’s quality and quantity requirements, the Canadian Press reports.

Moreover, Nestlé has stated that the Middlebrook site will only be a backup for its other nearby well and bottling plant in Aberfoyle, where the corporation already draws up to 3.6 million liters (roughly 951,000 gallons) of water a day. The company reportedly plans to extract as much as 1.6 million liters (almost 423,000 gallons) a day from Middlebrook to be transported to its bottling facility.

All this comes as parts of southern Ontario and British Columbia face severe drought conditions amid dwindling water supplies and Nestlé pushes to renew its permits for its Aberfoyle plant, the advocacy group Council of Canadians warned.

The organization on Thursday launched a Boycott Nestlé campaign which states, “Groundwater resources will not be sufficient for our future needs due to drought, climate change, and over-extraction. Wasting our limited groundwater on frivolous and consumptive uses such as bottled water is madness. We must not allow groundwater reserves to be depleted for corporate profit.”

 

Time2help's picture
Time2help
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Without watching...

...I highly doubt that it is/was live.

cmartenson's picture
cmartenson
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Best post debate analysis

Confession - I tried to watch the whole debate because I felt it was my duty to you all here...and as a citizen...I should care and know about such an event.

Five minutes in and I realized I wanted a fast forward button.  I could not stand the level of pandering and poor debating styles and the fact that I knew more than either candidate about the things they were spouting off about.

In true non-partisan fashion, as has always been my style here, I thought both candidates came off extremely poorly.  

At any rate, here's the best post-debate analysis I found tucked into the comment section in the WSJ under a debate article:

Political pundits score these debates like a high school class president election - who got in the most zingers? Who asked the best "gotcha" questions?  Who sounded cool?

In truth, Hillary was Hillary - shrill, scripted, spouting the same old, tired liberal prescriptives; pandering, pandering, pandering to each of the pigeon holes that Dems would like Americans to stay in.

The Donald was The Donald, egotistical, unscripted, ignorant, bloviating about how great he is while spewing invective at his opponent.

So no news there; the debate serves therefore as a Rorschach test for America as a whole - each partisan sees what they want to see.  Anyone pulling for Hillary thinks she blew the Donald out of the water.  Anyone supporting The Donald thinks he cut Hillary down to size.

Most, however, could not stomach the entire debate - they tuned in for a few minutes, an hour, and seeing nothing to alter their opinions, tuned out.

~James McDonald

Uncletommy's picture
Uncletommy
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Pondering the pandering.

What happens to a country when the only choice is NO choice?

Time2help's picture
Time2help
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Posts: 2832
Always a choice
Uncletommy wrote:

What happens to a country when the only choice is NO choice?

Choose something else.

Time2help's picture
Time2help
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Posts: 2832
Post Debate Analysis

The debate was, by design, a distraction.

It's purpose? To manipulate your emotions and keep your head "in the game".

To keep you vested.

newsbuoy's picture
newsbuoy
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I should have said

ALTERNATIVE viewing during the debate.

Cornelius999's picture
Cornelius999
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Thanks for trying to do your

Thanks for trying to do your duty and help us out Chris.  It's a help to know that if I miss it, I'm not missing much.

KennethPollinger's picture
KennethPollinger
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A digital gold money safety box?

Bypass fiat currency and go for REAL money, no?

 
View this email in your browser

The Real Debate: Gold vs. Paper

While a record audience watched the first presidential debate between Hillary Clinton and Donald Trump, the sad truth is that both candidates differ very little on the issue that should be of the highest importance to Americans. As president, both will surely seek to expand the power of government while continually curtailing individual liberty. Though we can vote against the candidate we feel will accelerate this trend, our votes will do nothing to change the direction.

But there is one vote that may actually make a difference. The real source of government power is its monopoly over money. Working hand in glove with the Federal Reserve, the Federal government has been able to finance permanent deficits by creating purchasing power out of thin air. The public thinks government spending in excess of official taxation means they get something for nothing. But the unofficial inflation tax is not only more expensive it does even more damage to our economy. Fortunately, we now have a way to vote to reject this tax, take control of our savings, put the brakes on big government, and actually make America great again.

While government taxation and regulation have worked to limit productivity, private sector investment and innovation have worked to enhance it. But the recent rise and acceptance of activist central banking has tilted the balance in favor of government. As a result, living standards for the majority of Americans have spiraled downward. The dissatisfaction this creates is clearly reflected in the tone and tenor of the current election. But if we really want to take our country back, we need to start by taking our monetary system back.


 

WATCH PETER SCHIFF AND ROY SEBAG:
YOUR PERSONAL GOLD STANDARD

Peter Schiff and Roy Sebag
 
The United States was built on a foundation of sound money. A constitutional gold standard served us well for nearly 200 years until Richard Nixon decided to do away with it “temporarily” in 1971. It’s been 45 years and we are still waiting for the return. As the Federal Reserve prepares to stamp out any remaining integrity that our currency may still possess, I suggest that we can’t afford to wait any longer for our government to honor Nixon’s promise. We must do it ourselves. Using a brand new platform provided by Goldmoney, we can individually reject fiat money, and return in mass to the gold standard one American at a time. Without firing a shot, we can win a second American revolution.  

Goldmoney is a new Internet startup, publicly traded on the Toronto Stock Exchange that has rebooted the traditional gold standard with 21st Century technology. The result is a new super-charged gold standard that works better than the original. It provides all of the conveniences of money substitutes, such as paper currency, bank accounts, credit cards, etc., with none of the disadvantages. It’s a Gold Standard 2.0 that everyone can adopt today. It doesn’t matter which candidate wins this election. Elections only change the players. But Goldmoney empowers us to change the game.

Start earning and saving in gold today! Click the button below to open your Goldmoney "Personal" account, which includes a free bonus gold offer with your first deposit.

*For a Goldmoney "Wealth" account, use the code "PeterSchiff".

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With Goldmoney, consumers can buy gold instantly and inexpensively using a laptop or cell phone. It’s real gold that you own. You can take delivery whenever you want, in quantities as small as 10 grams. You are not a creditor of Goldmoney. You own your gold, which is stored free of charge by Brinks (a 157-year-old third party custodian, whose very name is synonymous with safety and trust) in a vault in an international city of your choice. Goldmoney provides a platform that gives you 24/7 accesses to your gold, enabling you to spend or transfer any portion of your holdings … free of charge. In addition, Goldmoney will provide all account holders with free debit cards, enabling you to convert your gold into the currency of your choice, and spent it wherever MasterCard is accepted, including cash withdrawals from ATMs.

Gold beat out all commodities to become the free market’s choice for money, and it served that function spectacularly for thousands of years. Along the way, governments have tried to force people to accept paper instead of real money but their efforts have always ended in failure. Now you can help Goldmoney make sure this recent attempt fails as well.

Just as FedEx once disrupted the U.S. postal monopoly, and companies like Airbnb and Uber are now upending the hotel and taxi industries, Goldmoney will be a game changer for the Federal Reserve and its irredeemable notes. Money needs to be a reliable store of value, and the Fed’s product fails that test miserably. In fact, their product is designed to fail, as official policy now mandates at least 2% annual inflation, with 0% interest rates ensuring that savers have no way to recover their loss. 2% inflation means your savings lose 2% of their value every year. But my guess is the 2% floor will be moved higher over time, so the annual rate of loss will accelerate in the years ahead. Gold, on the other hand, cannot be debased, as its supply is extremely scarce and mining output will not even come close to matching the rate at which new Federal Reserve notes will be conjured into existence.   

When the Federal Reserve was at least perceived to be an inflation fighter, and savings accounts paid interest of 5% per annum, the convenience of fiat money and a modern banking system made a gold standard seem expensive and obsolete. But with the Fed now an unapologetic inflation creator, banks paying 0% (and potentially negative) interest rates, the looming threat of bank failures and “bail-ins” in the traditional financial system, combined with Goldmoney’s revolutionary platform, makes the case for opting out of fiat money and into gold all the more compelling. The ability to do so has never been easier.   

Goldmoney lets everyone easily save, earn, and spend in gold.  Don’t be the last one on your block to make the transition. Being an early adopter has its advantages. The sooner you make the switch to gold, the sooner the government will no longer be able to tax you with inflation.  
 
It’s not just about preserving the purchasing power of your own savings, but about helping your friends protect theirs. Through the Goldmoney referral program, you can earn free gold every time one of your friends opens an account as a result of your invitation. It’s as easy as sending a text or an email. If you open your account today, Goldmoney will fund it with some free gold to help you get started. You can easily add to your account with an additional purchase using your debit or credit card, begin inviting your friends to open accounts, and sit back and watch your personal gold holdings stack up.
 
The decision to open a Goldmoney account is not only a good financial decision for yourself but a good political one for our nation. Voting may be a waste of time as no matter who wins elections nothing ever seems to change. A vote for gold is a vote our politicians will not be able to ignore. If enough of us reject their flawed monetary system, the government will have no choice but to bow to the competition. To compete with Goldmoney, and win back lost market share, the government will be forced to cut spending, balance its budget, and raise interest rates. Just as the gold standard of yesterday restrained the growth of government and preserved individual liberty, a new gold standard can deliver the same benefits today. Our government will not voluntarily surrender its power. We will need to take it from them ourselves. Thanks to Goldmoney we now have the means to do it!


 

Start earning and saving in gold today! Click the button below to open your Goldmoney "Personal" account, which includes a free bonus gold offer with your first deposit.

*For a Goldmoney "Wealth" account, use the code "PeterSchiff".

Start your Goldmoney account today

 

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