Daily Digest

Image by Anthony Quintano, Flickr Creative Commons

Daily Digest 11/9 - Cash Is Still King in Japan, A More Dysfunctional Congress Ahead

Wednesday, November 9, 2016, 11:52 AM

Economy

Ballot measures to watch regarding health care costs

How angry are Americans about drug prices and health insurance? Election Day might prove to be a barometer on those two issues as voters in two states will have their say on these topics.

This election has one sure thing: a more dysfunctional Congress

Many Americans may find solace in having a deeply divided Congress that can't pass controversial laws, but lawmakers have a significant must-do list next year. At the top is the need to address the expiration of the nation's debt limit in March. Without action, the U.S. Treasury could face a unprecedented default as early as the summer.

Puerto Rico town suspends services amid economic crisis

A town in northern Puerto Rico has closed city hall and put nearly all of its employees on involuntary vacation because officials say they don't have money to pay salaries.

Puerto Rico voters choose new governor amid massive financial crisis that has left the island $70billion in debt and driven thousands to flee for mainland America

Almost two million voters on the Caribbean island will choose a new leader to lead them out of a crippling recession which has put the island $70 billion (£56 billion) in debt, its worst crisis in six decades.

Brazil freezes Rio's accounts over unpaid debt

Pummeled by Brazil's worst recession in a century, Rio is nearly bankrupt, with total debt set to reach 17.5 billion reals ($5.4 billion) by the end of the year.

Cash Is Still King in Japan, and That Could Be a Problem for the BOJ

The decision in Europe to stop printing the 500 euro note prompted concerns that governments were trying to make it harder to hold cash, and thus make it easier to impose deeper negative interest rates.

Italy's Target2 balance rises to new record high in October

The Bank of Italy's liabilities towards other euro zone central banks hit a new record high of 355.5 billion euros ($393 billion) in October, rising further above levels seen four years ago at the height of the euro zone's debt crisis.

Gold & Silver

Click to read the PM Daily Market Commentary: 11/8/16

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."

2 Comments

Mots's picture
Mots
Status: Silver Member (Offline)
Joined: Jun 18 2012
Posts: 187
Trump Election
The most important people in this world, create our food, our bread, build our cars, our machines, our roads, our houses, produce our energy and provide a wonderful life for us. The election is about THEM.  Why arent they in charge but instead are pushed down and constantly labeled racist and mysoginist by the NYT and other media?
 
These most important people can be contrasted with the most despicable people in this world, who are the lawyers and bankers (mostly in DC and NY) who have taken over ownership of the country and its institutions, who have taught us how to think with their purchased media.  The despicables, with their entertainment monkeys, mostly in LA but including CNN, MSNBC etc., are living off the sweat of the indispensables from the non coastal regions and have continually denigrated the most important people, with their media attacks, and their politics. (look at the electoral results of the election, >90% in DC voted for the status  quo  and similar for NY and LA). The coastal regions take the wealth with tricks and deceit but do not produce, and now are upset because their game has been revealed by the power of the internet (eg. wikileaks, Edward  Snowden, many blogsites).  That is the background of the election.
 
Trump is rich but came from the region of builders and does not play the game of the despicables.  Unlike the MSM e is not controlled by bankers, lawyers or politicians.  Us "deplorables" (as called so in America) or the( "muppets" as called so in Britain) are rising up (Brexit is an example).   This is a world wide phenomenon and will replace the old order.   The European Union will dissolve, for example.  



For various reasons, the Next Big Thing is small community development away from the cities, without the parasitic banksters and politicians with their controlled media.  I saw this coming 5 years ago and left K street, in the heart of the beast to go to an area where the future lies.  We (the deplorables, the muppets, the downtrodden  that do not live by banking and political racketeering tricks of the DC and NY communities but instead actually do  stuff with our hands as the low class scum that are looked down upon by the "superior" liberal elite) have all the technology we need for free from the internet and can create our own food, energy, machines, and other things at the local level.   We dont need the despicable people in DC, NY, LA etc.  Instead they need us.  We can walk away.  We should walk away and let them fend for themselves.  



The election is an awakening.  This is not an American bigotry phenomenon, but is happening everywhere and led by very intelligent non-bigoted visionaries.  The bankers will use their media to explain that their enemies are all bigots.   But France, Italy etc will see similar revolutions of the spirit. The bigger picture is an evolution that is just as major as the first major revolution of settlement agriculture.  Don;t mean to be dramatic but the Trump election is a small blip in the movement away from big city organized life engendered by the last (industrial) revolution, towards a more warm and human next big thing, of resilient life (the next revolution provided by internet, local materials 3D printing etc.  All the real problems of the world (no more petroleum, no more plastics, end of population growth) are being solved this way.  

I personally think that rural Japan is a good place in this context. Very low  population, cheap or no cost land, excellent infrastructure, excellent weather, no guns or drugs, communities that welcome outsiders who work hard regardless of origin.... etc.



 

 

Jim H's picture
Jim H
Status: Diamond Member (Offline)
Joined: Jun 8 2009
Posts: 2379
I appreciate your posts Mot

Always nice to hear from someone on the forefront of the reinvention... I give special credence to commentators who have experienced and left the belly of the beast (be it someone like Michael Krieger, who left Wall Street in disgust, or yourself, who left K-street in disgust).  

You said,

The election is an awakening.  This is not an American bigotry phenomenon, but is happening everywhere and led by very intelligent non-bigoted visionaries.  The bankers will use their media to explain that their enemies are all bigots.

I am amazed that the powers behind the media were able to paint this so successfully as being about race.  One CNN commentator was calling this a, "Whitelash".  While I don't doubt that there were more than a few truly bigoted whites who ended up as part of the coalition of Trump voters who put Trump over the top... I agree with your assessment that this was not the core by any means.  My own bother is part of the hysterical crowd in Seattle.  I am as disgusted by racism as anyone, but this election was never about race, or sex for that matter.      

 

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Login or Register to post comments