Daily Digest

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Daily Digest 10/23 - The Veins Of America, Go Outside To Rescue Democracy

Sunday, October 23, 2016, 11:04 AM

Economy

To Rescue Democracy, Go Outside (jdargis)

This is particularly problematic because our physical networks are a powerful influence on our beliefs. In 2008, my research group at the Massachusetts Institute of Technology studied interactions among a group of voters. We used cell-phone based Bluetooth proximity detection, WLAN location approximation and communication, and call records to put together an account of subjects’ face-to-face interactions, gathering 132,000 hours of social interaction data.

Thousands of California soldiers forced to repay enlistment bonuses a decade after going to war (Aaron M.)

“These bonuses were used to keep people in,” said Christopher Van Meter, a 42-year-old former Army captain and Iraq veteran from Manteca, Calif., who says he refinanced his home mortgage to repay $25,000 in reenlistment bonuses and $21,000 in student loan repayments that the Army says he should not have received. “People like me just got screwed.”

When The Safety Net Doesn't Catch You (jdargis)

Also, Brooke meets Margaret Smith, a Columbus woman made homeless after a violent crime derailed the life she'd carefully built with her six children. And we visit an Athens County food pantry that provides not just meals to the community, but also school supplies, clothing, furniture, job training, home repairs, disaster relief...even burial plots.

Here comes the Royal Navy: World's most advanced destroyer HMS Duncan goes on the trail of Putin's ships ... as Russia says UK has overreacted to the fleet lurking off British coast (Arthur Robey)

As well as the Royal Navy, the Royal Norwegian Navy, Finnish Navy and Royal Netherlands Navy have vessels surrounding the North Sea.

Despite this response, one Moscow defence expert claimed Vladimir Putin is ready to 'seize control' of the Mediterranean and the Atlantic as he boasted about Russia's sea power while branding the Royal Navy 'tiny'.

The Inversion Of Influence (jdargis)

Making this new reality even more challenging are the growing levels of trust inequality revealed in this year’s Trust Barometer data. The 85 percent of respondents who are in the broader mass population have a trust score of just 48, while the 15 percent who qualify as the Informed Public — those with higher income levels, higher education, and higher usage of traditional media — have a much higher trust score of 60. This 12-point gap has increased by three points in the last five years, and the divide is even more significant in some of the world’s largest economies.

How Kudzu, “The Vine that Ate the South,” Put Southern Agriculture on the Skids (jdargis)

Such is the destiny of monocultures. Thanks to the rich soil and free labor, cotton farming was so profitable that landowners insisted on planting it year after year after year, and made little effort to replenish the soil or rotate other crops. In the mid-1800s the South produced 75 percent of the world’s cotton; but by the turn of the century the whole system was showing signs of collapse.

The veins of America: Stunning map shows every river basin in the U.S. (Adam)

There are 18 major river basins in the 48 states of the contiguous US, but much of the map is dominated by the massive catchment area for the Mississippi River, including the Upper and Lower Mississippi River Basins, along with Missouri River Basin and the Arkansas-White-Red Basin, as seen in pink.

Gold & Silver

Click to read the PM Daily Market Commentary: 10/21/16

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

cmartenson's picture
cmartenson
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You know it's late in the story when...

You know it's late in the story when realtor.com starts offering "prepper" homes as a category.

(Source

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pinecarr
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Trump is Molotov Cocktail You Can Throw on Crooked System -Fitts

Catherine-Austin Fitts on USAWatchDog: http://usawatchdog.com/trump-is-molotov-cocktail-you-can-throw-on-crooked-system-catherine-austin-fitts/

By Greg Hunter’s USAWatchdog.com (Early Sunday Release)

Investment advisor Catherine Austin Fitts is backing Donald Trump. Fitts explains, “Michael Moore said in an interview that Donald Trump is a Molotov cocktail you can throw on the system.  Interestingly enough, if you look at the federal system, it has a negative return on investment to taxpayers.  If you believe you can never fix that, then throwing a Molotov cocktail into the middle of that is the most intelligent thing you can do for productivity.  It was when I wrote the theme for productivity for the second quarter wrap-up I realized . . . I may have profound disagreements with Trump’s style, but I can throw the Molotov cocktail (voting for Trump).

Fitts goes on to say:

The system is rigged against the common man, and it’s totally broken. Fitts adds, “If you look at the inhumanity rolling down on the average family, whether it’s heavy schedules of vaccines that cause autism, or GMO food that makes people sick, or spraying overhead putting Nano particles in our brains and cause us to be toxic with heavy metals, which produces all sorts of diseases and high health care costs, and I could go on, and on, and on.  Basically, what you are talking about is destroying humanity and the productivity of the general population.  It’s not going to work.  It can’t continue, and we’ve got to stop it.  That’s why I think if Trump is the Molotov cocktail, I’m throwing it.”

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cmartenson
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Black Jeopardy with Tom Hanks on SNL

This was pretty funny:

http://www.nbc.com/saturday-night-live/video/black-jeopardy-with-tom-hanks/3333590

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Arthur Robey
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The Flagship of our Civilization

Here it is argued that your choices are between Internationalism and Nationalism. Whether it better to be strong or to be servile. 

Strong does not imply aggressive. It implies strength.

Aggression implies weakness.

http://www.fdrpodcasts.com/#/3464/maga-mindset-making-you-and-america-gr...

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Arthur Robey
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Half of Humanity missing in action.

I ripped this out of Club Orlov.

Fair questions are asked of the fair sex. Why the enoui?  My first thought is that they are languishing gracefully while the men battle it out. (Present company excepted.)

Inquiring minds would like to know..

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saxplayer00o1
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Are we heading toward Financial Crisis 2.0?

Are we heading toward Financial Crisis 2.0?

The Japan Times-4 hours ago
It finds that global debt — including the debts of governments, households and ... Or perhaps such debt will prove, as with America's housing bubble, a mirage ...

Most Crowded Trade in Bonds Is a Powder Keg Ready to Blow

Bloomberg-7 hours ago

Duration is at or near unprecedented levels across sovereign debt markets. The effective duration on Bank of America's global government bond index climbed .

As Yields Fall, Investors Turn to Alternative Assets

Wall Street Journal-12 hours ago
Investors around the world are getting creative as they hunt for yield in a low- or even negative-interest-rate environment that has rendered investment returns ...

BOJ Warns Banks May Take Excessive Risks to Stay Profitable

Bloomberg-10 hours ago
... may take excessive risks to maintain profitability while the ability of others to lend could weaken following the introduction of its negative interest-rate policy.

RPT-Italy's front line in fight to save banks: a storage room

Reuters-8 hours ago
Monte dei Paschi, Italy's weakest major lender, is under pressure from the European Central Bank to resolve its bad debt problem by the end of the year, but ...

Rising Debt From Mom-and-Pop Businesses Adds to Korea's Woes

Bloomberg-11 hours ago
Economists forecast South Korea's economy to grow 2.6 percent this year and 2.7 percent in 2017, which is lower than projections by the central bank and the ...

Canada's Record Household Debt Is Threatening Its Financial Stability

Bloomberg-19 minutes ago
Canada's debt, swelled by a decade-long housing boom to almost triple the size ... 8.7 percent for sovereign bonds globally and 4.3 percent for U.S. Treasuries, ...

Korea's corporate restructuring to cost 31 tln won: IMF

The Korea Herald - ‎Oct 22, 2016‎
The International Monetary Fund put the estimated cost of South Korea's ongoing corporate restructuring drive at 31 trillion won ($27 billion), saying it will be offset by various benefits in a decade, according to a recent report. It used loss given ...

Bankruptcy Bust: How Zombie Companies Are Killing the Oil Rally

Wall Street Journal-16 hours ago
"It is frustrating,” said Adam Wise, managing director at John Hancock Financial Services who helps oversee about $7 billion in energy-related debt and ...

Oman covering two-thirds of budget gap with foreign borrowing

Reuters-6 hours ago
The budget deficit almost doubled to 4.02 billion rials ($10.5 billion) in the first seven months of this year from a deficit of 2.39 billion rials a year earlier, as low oil ...

Portugal escapes junk rating from DBRS, but what now?

Financial Times - ‎7 hours ago‎
As Bank of America Merrill Lynch economist Gilles Moec points out, the sustainability of Portugal's public debt is reliant on low interest rates. A downgrade that knocked the country out of the ECB's bond-buying programme, sending borrowing costs ...

CBI calls for radical reforms to reduce pension costs

Financial Times-20 hours ago
Companies are under increasing pressure from regulators to use spare cash to plug pension deficits at the expense of growth, according to the UK's biggest ...

 

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sand_puppy
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Internet connected CCTV camera launched DDoS

Bloomberg (on ZH) reports that thousands of small closed-circuit TV camera that are internet connected was the hardware platform where the denial of service attack on Dyn was launched on Friday.

[W]e're getting a better idea of how the attack was executed.  According to Bloomberg, Internet-connected CCTV cameras made by a Chinese firm, Hangzhou Xiongmai Technology Co., were infected with malware, called Marai, that allowed hackers to takeover "tens of millions" of devices to launch the distributed denial-of-service (DDoS) attacks.

The attackers hijacked CCTV cameras made by Hangzhou Xiongmai Technology Co. using malware known as Mirai, the company said in an e-mailed statement.

“Mirai is a huge disaster for the Internet of Things.

Hackers launched a distributed denial-of-service (DDoS) attack using tens of millions of malware-infected devices connected to the internet, according to Kyle York, Dyn’s chief strategy officer.

I am pretty sure that everyone here gets it: 

1.  Everything connected to the internet can be controlled or disabled remotely.

2.  State and non-State actors can install malware and spyware before it is distributed to the end user.  (Was the chip running the flight controls of your military jet made in China?  What happens to that chip in a war with China?)

3.  Firewalls can by bypassed by anyone with a "back door" access code.

Does it make you think twice about the high-end entertainment center with a camera observing the user and microphones recording the discussions in the room?

cmartenson's picture
cmartenson
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Up next...
sand_puppy wrote:

1.  Everything connected to the internet can be controlled or disabled remotely.

Today:  Kids throw eggs at your house on Halloween.

Tomorrow:  They remotely fire up your appliances and turn your lights on and off

My response:  Maybe having a bunch of dumb appliances is actually a smart thing?

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SP

The norm now, is that devices are more intelligent, and the human becomes brainless. This is where the connected majority is heading, despite the few that raise the red flag.

The unconnected ones will have a tremendous advantage the day this house of cards will collapse.

 

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davefairtex
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internet of things

So in the past my job was designing protocols and software to implement them.  I wasn't fancy enough to author an actual RFC document, but my stuff worked.

I absolutely don't want any device I own to be connected to the "internet" unless it is complicated enough to have a real team that built security into the box.  And even then, I want it behind a router that uses the open source ddwrt.

For everything else, I'm all for stupid cars, stupid appliances, stupid watches, etc.  I connect to my printer using USB.  There was a hack that involved taking over your printer via a trojan-horse document that infects your printer with malware and then acts as a staging point for infecting other devices.  At least with a USB cable the target list would be restricted.  Bluetooth - if I could physically disable every bluetooth transmitter on every device I own, I would.  Cars with bluetooth (or any other network interface) terrify me.  Its just asking for trouble.

I assume my phone is probably already owned by someone else.  I just try to minimize the number of other owners - governments you can't do too much about, but Russian mafia that wants to steal my money, I try and stop that.  And I never use my phone for banking.

Here's the thing.  The simpler and cheaper the device, the less the implementers will know about how to secure that device.  Dev schedules typically focus on features.  Security isn't even a distant dream.

Printer developers?  Not internet security experts.  Camera developers?  Same thing.  Cars?  They're all a bunch of embedded systems gear heads.  Software teams in mostly-hardware companies end up being second-class citizens.

So I agree.  No smart devices for me.  If by some accident I got a "smart TV" my first thought would be to cover the lens and snip the mic wires.  I expect most network/security people feel the same way.

As for "them" owning the chips - that's not what this particular DOS attack was about.  Instead, the root password for all these IOT boxes were the same.  Can't be changed.  And telnet was enabled - presumably so they could log into your camera and ... I dunno, do something useful?

https://krebsonsecurity.com/2016/10/iot-device-maker-vows-product-recall-legal-action-against-western-accusers/

In a follow-up to that story, I interviewed researchers at Flashpoint who discovered that one of the default passwords sought by machines infected with Mirai — username: root and password: xc3511 — is embedded in a broad array of white-labeled DVR and IP camera electronics boards made by a Chinese company called XiongMai Technologies. These components are sold downstream to vendors who then use it in their own products.

Idiocy.  Or maybe a plot.  Its hard to tell from here.

 

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