Daily Digest

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Daily Digest 9/29 - QE Is "Here Forever," Why Garbagemen Should Earn More Than Bankers

Thursday, September 29, 2016, 10:03 AM

Economy

QE is here forever, says Bank of England deputy governor (Brunel)

“Deep structural forces have combined to depress the level of interest rates at which the economy would be in equilibrium, obliging us to rely ever more on monetary policies that were once considered unconventional,” said Ms Shafik, speaking at a Bloomberg conference.

Joel Salatin: Getting Your Family to Pull Together On Preparedness (pinecarr)

In your quest to achieve more self-reliance, are your family members not all rowing the boat in the same direction? Do you wish you were all working together willingly as a team? Joel Salatin, author, co-founder of Polyface farms and popular speaker on permaculture and sustainable food raising, returns to Reluctant Preppers to offer tested tips on how to reclaim family peace while building independence: not only from the system, but most importantly within each member of your family!

Owning Physical Gold Will Protect Your Wealth Against Disingenuous Acts Of Central Banks (Taki T.)

Financial markets across the world have been taking their cues from central banks for years and we know the Federal Reserve wants to at some point begin raising rates. However, the timing of this continues to be uncertain. Even if they decide to increase the Federal Funds Rate, by 25bps or even 50bps over the next six months or so in an attempt to avoid any over reaction in bond markets, such a small increase is unlikely to have a much of an impact on gold prices over the long-term. As I have already pointed out countless times, this is not the only event to influence gold prices.

Renovation boom underway, CMHC says, as empty nesters need more space for adult chicks (Uncletommy)

Ontarians spent an estimated $25 billion on renovations last year, a figure that the housing agency says is forecast to keep increasing in the coming years. That's because the housing market itself is booming, and most buyers typically undergo some sort of renovation job within the first 12 months after they buy, indicate numbers by the Canada Mortgage and Housing Corporation.

Why Garbagemen Should Earn More Than Bankers (Don R.)

The next day, trash goes uncollected throughout the Big Apple. Nearly all the city’s garbage crews have stayed home. “We’ve never had prestige, and it never bothered me before,” one garbageman is quoted in a local newspaper. “But it does now. People treat us like dirt.”

Europe's banks 'not investable' says top banker amid Deutsche Bank crisis (Cornelius9999)

Shares in Deutsche Bank have plunged to near-30-year lows this week amid reports – which were then denied – that it had asked for German government intervention to help reduce the punishment from the US Department of Justice (DoJ). Their decline was arrested on Wednesday, when the bank sold a UK insurance company for €1bn; they closed 2% higher at €10.76.

Drumpf Is The Symptom, Clinton Is The Disease (richcabot)

Charles and David, the ultra-libertarian Koch brothers and Republican Party kingpins, have rejected Drumpf, cutting him off from a major source of funding. Another billionaire politico and sometimes Republican, Michael Bloomberg gave Clinton his endorsement at the Democratic National Convention.

Refugees fleeing the land of the GOP are finding succor in Clinton’s big tent. Clinton’s New Democrats are actively courting the conservatives being pushed out of the GOP by the embarrassing Mr. Drumpf.

What Do Driverless Cars Really Mean For Transportation? (Josh O.)

I’m wondering about all this, the future of transportation, in the ideal thought laboratory: A cramped and packed, sweaty subway car in London’s Underground. If you’ve ridden on the Central Line in the middle of summer during rush hour, you know what it’s like to take a journey to the center of the earth. The experience sharpens one’s senses to personal choice in transportation. But I’ll come to that shortly.

Are Bison More Environmentally Friendly Than Cattle? (jdargis)

Bison’s impact while tramping around the prairies is a bit more nuanced. Studies indicate that cattle generally prefer to hang out around trees and water sources much more than bison do; other studies indicate that the presence of cattle around water sources can have an extremely negative effect on the cleanliness and biodiversity of these environments. That said, Chris Helzer at the Prairie Ecologist notes that, well, this isn’t necessarily how this has to go; it’s perfectly possible to simply fence in cattle so they don’t spend too much time at a water source.

Gold & Silver

Click to read the PM Daily Market Commentary: 9/28/16

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."

10 Comments

rjs's picture
rjs
Status: Gold Member (Offline)
Joined: Aug 8 2009
Posts: 445
9-11 coverup

Jenna Orkin's 2004 testimony here is devastating; it's clear the EPA's coverup has killed more New Yorkers than the trade center bombers did:

9/11 Truth 15 Years Later: Jenna Orkin on EPA Lies and the Legacy of 9/11 -- (1 hour MP3, 15 min video testimony)

"There is overwhelming evidence that this government agency had reason to suspect the air in the vicinity of the World Trade Center following the attacks was not only toxic, and deliberately misled the public about the quality of the air.  As a result, numerous first responders, and ordinary citizens in the New York area inhaled dust and debris containing dangerous quantities of not only asbestos, but lead, mercury, cadmium, toxic organic compounds such as polycyclic aromatic hydrocarbons (PAHs), glass fibers, pulverized concrete, and caustic particles so alkaline they had pH levels near that of liquid drain cleaner. [4] Over 1,000 people have died from illnesses tied to exposure to debris. That number is expected within five years to exceed the number who were killed on the day of the attacks. [5]  Other aspects of 9/11, including the ‘false flag’ counter-narratives, appear to have gained more prominence in mainstream and alternative media than the crime of thousands losing their lives as a result of agency disinformation."

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4145
Draghi saves Europe!!!

ECB's Easy-Money Policies Averted a New Great Depression, Draghi Says

Wall Street Journal - ‎19 hours ago‎
In a speech to the lawmakers, Mr. Draghi vigorously defended the ECB's recent policy decisions, which he said had helped avert a new Great Depression in Europe. He underlined how Germans are benefiting from central-bank action through higher growth ...
 

ECB's Easy-Money Policies Averted a New 'Great Depression,' Draghi Says -- Update

Nasdaq - ‎22 hours ago‎
FRANKFURT--European Central Bank President Mario Draghi told German lawmakers on Wednesday that the ECB's easy- money policies had helped avert a new Great Depression in the eurozone. In a speech during his first visit to Germany's parliament in ...

BOJ chief seeks to extend ultraloose legacy beyond his term

Nikkei Asian Review - ‎10 hours ago‎
For Kuroda, it was only natural to show a fiercer resolve toward beating deflation, said a BOJ official. The fact that the BOJ chief is sticking with the epoch-making easy money policy is also rooted in the mistakes made by the central bank in the past ...

Germany sells two-year debt at record low yield in safety rush

Reuters-22 hours ago
UPDATE 2-Germany sells two-year debt at record low yield in safety rush ... The euro zone's benchmark issuer sold 3.191 billion euros at minus 0.7 percent, ...

As Chicago Staunches Fiscal Bleed, Schools Are Awash in Red Ink ...

www.bloomberg.com/.../as-chicago-staunches-fiscal-bleed-schools-ar...
Bloomberg L.P.

5 hours ago - Chicago, the nation's biggest junk-rated city, has raised taxes and moved to shore up its debt-ridden pension system, but for its schools, the ...

Saudi Hands Tied as Rising Rates Risk Worsening Economy Woes

Bloomberg-11 hours ago
... has been selling bonds to local lenders each month to help plug its budget deficit. ... The central bank offered lenders 15 billion riyals in short-term loans in an ...

Student Loan Defaults Drop, but the Numbers Are Rigged

Bloomberg-20 hours ago

About 593,000 former college students out of 5.2 million total borrowers defaulted on their federal debt as of Sept. 30, 2015, the department said. Default rates at ..

Health-Care Costs Ate Your Pay Raises

Bloomberg-21 hours ago
Workers are unhappy with their salaries; employers are unhappy with their costs. It isn't a big leap to conclude that so long as either health-care costs keep rising ...

Specialty Drug Costs Soar 30% For California Pension Fund

Kaiser Health News-18 hours ago

Specialty drug costs jumped 30 percent last year to $587 million for the California Public Employees' Retirement System, one of the nation's largest health care .

cmartenson's picture
cmartenson
Status: Diamond Member (Online)
Joined: Jun 7 2007
Posts: 5727
that must be...

This must be because everything is so awesome!

Germany sells two-year debt at record low yield in safety rush

Reuters-22 hours ago
UPDATE 2-Germany sells two-year debt at record low yield in safety rush ... The euro zone's benchmark issuer sold 3.191 billion euros at minus 0.7 percent, ...
 
Thanks Saxplayer for all you do here to keep me informed.  :)
TechGuy's picture
TechGuy
Status: Gold Member (Offline)
Joined: Oct 13 2008
Posts: 414
Deutsche and German bonds

I don't think German bonds will stay low for very long. Once Deutsche Bank goes bust and needs depositor bail-ins, then I think Bond investors will Exit and head for US treasuries. Deutsche Bank will likely be another Lehman moment. Behind Deutsche Bank is commerzbank since it announced yesterday its laying off 20% of its workforce and eliminating its dividend.

Germany's Exports are down 10% for this year so far, and continue to tumble. It would not surprise me to see riots in Germany like in Greece once Germany's banking crisis unfolds.

 

concad's picture
concad
Status: Member (Offline)
Joined: Jul 8 2009
Posts: 4
The pasing of a great human being

As opposed to the money shifters in many of our articles, I would like to draw attention to the passing of a great human being who did much for humanity.

http://www.abc.net.au/news/2016-09-26/tributes-flow-in-for-permaculture-...

KugsCheese's picture
KugsCheese
Status: Diamond Member (Offline)
Joined: Jan 2 2010
Posts: 1447
Fuzzy Numbers Article Not Accesible

I get: 

The www.peakprosperity.com page isn’t working

cmartenson's picture
cmartenson
Status: Diamond Member (Online)
Joined: Jun 7 2007
Posts: 5727
Page works for me
KugsCheese wrote:

I get: 

The www.peakprosperity.com page isn’t working

When I click on the page link, I get to the page just fine.  I can access just fine with both Explorer and Chrome, in both my admin and an unregistered role.

This is the URL: https://www.peakprosperity.com/blog/102087/fuzzy-numbers-behind-initial-job-claims

Are you still experiencing the same trouble?  If so...which browser are you using?

 

reflector's picture
reflector
Status: Gold Member (Offline)
Joined: Aug 20 2011
Posts: 269
page works here

the page works here too, firefox on ubuntu linux

and on an unrelated note:

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Gird your loins.

The Death Cults  playing footsie with the Russians.

They're  are determined to force their Messiah to return by initiating Armageddon. 

What they'll get is extinction. 

 

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4145
Janet Yellen Sees Benefits to Central Bank Stock Purchases

Janet Yellen Sees Benefits to Central Bank Stock Purchases

Wall Street Journal - ‎16 hours ago‎
Federal Reserve Chairwoman Janet Yellen said Thursday there could be benefits to allowing the central bank to buy stocks as a way to boost the economy in a downturn. Speaking to a minority bankers' conference at the Kansas City Fed via videoconference, ...

Fitch: Sub-Saharan Sovereign Debt Rises, Hampers Consolidation

Reuters-5 hours ago
Fitch: Sub-Saharan Sovereign Debt Rises, Hampers Consolidation. (The following statement was released by the rating agency) HONG KONG/LONDON, ...

Emerging sovereigns' bond sales nearly double, Saudi debut ahead

Reuters-29 minutes ago
... markets for the first time since its 2002 default with a $16.5 billion bumper issue. It then tapped markets again and recently held meetings to raise debt in euros ...

China Inc. Sells Unpaid Bills to Banks as Debt Web Spreads

Bloomberg-12 hours ago
Account receivables at those firms have surged 18 percent over the past year to a record high of 3.5 trillion yuan ($525 billion), data compiled by Bloomberg ...

Treasury Will Sell $78 Billion in Debt

Wall Street Journal-20 hours ago
The Treasury Department will auction $78 billion in securities next week, comprising $36 billion in new debt and $42 billion in previously sold debt. Details (all ...

French public debt at 98.4% of economic output

MarketWatch-6 hours ago
The public debt of the eurozone's second-largest economy rose EUR31.7 billion ($35.58 billion) to 98.4% of gross domestic product at the end of the second ...

Housing prices driving record levels of debt (New Zealand)

Otago Daily Times-21 hours ago
According to the Reserve Bank, since National came to office, housing debt has grown from $161billion to $223billion — an increase of $62.5billion or 39%.

Russian Finance Minister Warns of Wider Budget Deficit This Year

Bloomberg-3 hours ago
The ministry is ready to sell an additional 200 billion rubles ($3.15 billion) of debt on the domestic market this year, or 30 billion to 40 billion rubles a week ...

CalPERS puts retirees, taxpayers at risk

San Francisco Chronicle-14 hours ago
With CalPERS sitting on $170 billion of pension debt created by 17 years of ... By lowering the employee's contribution rate, the risk and debt is transferred to the ...

Brazil posts record primary gap in August as tax intake drops

Reuters-25 minutes ago
The primary deficit BRPSPS=ECI of 22.267 billion reais ($6.88 billion) in ... The primary balance, or the budget result prior to interest debt payments, is a key ...

British Pension Funds Hunger for Superlong Bonds

Wall Street Journal-9 hours ago
The PPF 7800, an index of the funding of defined benefit pension schemes, shows a funding deficit of £459.4 billion in August, the highest on record. That deficit ...

Mexico Raises Key Interest Rate After Peso Plunges to Record Low

Bloomberg-20 hours ago
... election, a widening current account deficit and deteriorating public finances. ... He's also said he may seize remittances to make Mexico pay for a $10 billion ...

Deutsche Bank CDS jump 21 basis points after stability concerns

Reuters - ‎7 hours ago‎
According to data provider Markit, credit default swaps on Deutsche Bank's five-year senior debt rose to 255 basis points from Thursday's close of 234 basis points, yet still shy of the 7-month high of 260 bps hit on Tuesday. Deutsche Bank assets have ...

Deutsche Bank AT1 bonds fall to all-time lows

Reuters-6 hours ago
The bonds, the riskiest form of debt banks can sell, have been under intense ... The bank's five-year credit default swaps, which reflect the cost of insuring ...

Detroit schools dodge default after Michigan refinances bonds

Crain's Detroit Business-20 hours ago
Detroit schools dodge default after Michigan refinances bonds. By Darrell ... The old district exists only to repay outstanding debt and other liabilities. The old ...

Consumer debt soars to levels seen in 2008

Toledo Blade-11 hours ago
That was the biggest second-quarter spike in credit card debt since WalletHub began collecting the data, ... “Higher debt usually leads to higher default rates.

Starving people in Venezuela stop livestock truck on motorway and ...

Mirror.co.uk-20 minutes ago
A massive crowd of people stopped a lorry on the motorway in search of LIVE CHICKENS because they were in desperate need of food . This shocking footage ...

Lloyds May Face $2.1 Billion Charge on Pension and PPI, UBS Says

Bloomberg-4 hours ago
Lloyds Banking Group Plc, Britain's largest mortgage lender, may take a 1.6 billion-pound ($2.1 billion) charge in third-quarter earnings to cover a pension deficit ...

People born in the 1980s are HALF as wealthy in their thirties as people a decade older

Telegraph.co.uk - ‎10 hours ago‎
... financial and private pension wealth. Experts said their comparatively lower ability to build wealth is down to a combination of lower home-ownership rates in early adulthood, less access to generous final salary-type pension schemes, and stagnant ...

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