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Daily Digest 12/8 - Profiting Off Mistrust, 2017 Euro Crisis 'Almost Certain'

Thursday, December 8, 2016, 9:32 AM


Profiting off Mistrust: the Highs and Lows of News Media (Yoxa)

The most viewed event in the 2015 campaign was the first Republican debate, attracting nearly 24 million viewers (about seven percent of the population) — vastly more than comparable primary debate turnout in recent years. The first general election debate broke over 80 million in viewers. Most of the attention has centered around the bombastic campaign rhetoric of Donald Trump: Every program that Trump has appeared on has benefitted financially — the Fox News and CNN debates were the most watched in each of those network’s histories, late-night talk show hosts Stephen Colbert, Jimmy Fallon and Jimmy Kimmel each scored their most watched shows ever with Trump as a guest; Saturday Night Live, despite the controversy and protest, considered the decision to invite Trump as the week’s celebrity guest ratings gold.

Stemming The Tide Of Fake News (jdargis)

Journalists Sheera Frenkel and Terrence McCoy discuss their investigations into the rise of fake news, the people behind it, the people who share it and why it went viral. Terrence, Social Issues Reporter for The Washington Post, wrote, “For the ‘new yellow journalists,’ opportunity comes in clicks and bucks,” and Sheera, cybersecurity correspondent for BuzzFeed News, has written a number of articles on fake news, including, “Germany Is Fighting Fake News On Facebook And Wants Europe Along For The Ride” and “Renegade Facebook Employees Form Task Force To Battle Fake News.”

David McWilliams: 'It is almost certain that there will be another euro crisis in 2017' (Cornelius999)

Italy is not Greece. Italy is the third-largest economy in the eurozone. Italy is the second-largest manufacturing nation in the EU after Germany. Italy is the largest debtor in Europe. The third-largest Italian bank is irredeemably bankrupt. Italy has no government and the people who are likely to win the next election want to take Italy out of the euro and replace the euro with their own currency, the lira.

Snowden leaks reveal NSA snooped on in-flight mobile calls (jdargis)

GCHQ and the NSA intercepted the signals as they were sent from the satellites to the ground stations that hooked into the terrestrial GSM network. Initially, coverage was restricted to flights in Europe, the Middle East, and Africa, but the surveillance programme was expected to go global at the time the presentation was made.

5 Potential Offshore Traps You Should RUN From (Taki T.)

It’s offshore; therefore, it’s tax-free. Just because you place your funds overseas –a perfectly legal thing to do – does not, per se, provide compliant tax avoidance in the country of your tax residence. If an advisor suggests that you needn’t pay taxes for an offshore structure, because they don’t charge any taxes on your capital gains or income, be very careful. If in doubt, RUN!

Permian - Hottest Oil & Gas Zip Codes, Or Dangerous Bubble? (Josh O.)

The big question remaining to be seen is whether these values are justified or whether transactions are being pushed higher and higher by use of "comps" that are not truly comparable, creating a dangerous bubble, especially for non-diversified buyers in non-core areas.

Trump win opens way for China to take climate leadership role (jdargis)

"Proactively taking action against climate change will improve China's international image and allow it to occupy the moral high ground," Zou Ji, deputy director of the National Centre for Climate Change Strategy and a senior Chinese climate talks negotiator, told Reuters.

Zou said that if Trump abandons efforts to implement the Paris agreement, "China's influence and voice are likely to increase in global climate governance, which will then spill over into other areas of global governance and increase China's global standing, power and leadership."

Stephen Hawking: This Is The Most Dangerous Time For Our Planet (jdargis)

The concerns underlying these votes about the economic consequences of globalisation and accelerating technological change are absolutely understandable. The automation of factories has already decimated jobs in traditional manufacturing, and the rise of artificial intelligence is likely to extend this job destruction deep into the middle classes, with only the most caring, creative or supervisory roles remaining.

Gold & Silver

Click to read the PM Daily Market Commentary: 12/7/16

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."


saxplayer00o1's picture
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4236
Draghi Says ECB Can Do More as QE Heads for $2.4 Trillion

Draghi Says ECB Can Do More as QE Heads for $2.4 Trillion

Bloomberg - ‎1 hour ago‎
The extension will be accompanied by adjustments to the program's rules, a move necessary to avoid running out of assets to buy. Central banks will be allowed to buy debt with a yield below the deposit rate, previously a minimum eligibility requirement.

India Outflow: Deutsche Bank Says You Ain't Seen Nothing Yet

Bloomberg-11 hours ago
India's rupee sovereign notes have risen despite the outflows, returning 3.1 ... monetary policy and the huge dollar debt of emerging markets will hurt them.”.

China's Banks Are Hiding More Than $2 Trillion in Loans

Wall Street Journal-22 hours ago
Haimen Development has more than 60 yuan in debts for every 100 yuan in assets it owns, according to a financial ... “The only risk we have is sovereign risk.”.

Fed Officials Leaning Toward Bigger Is Better on Balance Sheet

Bloomberg-4 hours ago
Over the next two years, for example, $617 billion of its debt holdings come due. ... The Fed owns $1.74 trillion in mortgage-backed securities, a legacy from the ...

Rising Interest Rates Trigger Losses on Banks' Massive Bond ...

Wall Street Journal-22 hours ago

U.S. banks suffered a $6.5 billion unrealized loss on the value of securities they hold as ... When rates rise, the value of debt securities tends to fall because the ..

Loyalton's pension default is a wake up call

The San Diego Union-Tribune-16 hours ago
Pension debt is not a new story — in fact, most of the country's public pensions are significantly underfunded (state and local pensions across the U.S. have an ...

Chicago school board approves revised budget with $215 million hole

WSAU - ‎16 hours ago‎
That money will cover higher costs from a new four-year contract with the Chicago Teachers Union that the board ratified on Wednesday. Chicago Public Schools (CPS), the nation's third-largest public school system, is struggling with pension payments ...

Some Oklahoma school staff's entire paychecks go to healthcare

KOCO Oklahoma City-15 hours ago
Those people's entire paychecks are going to pay for healthcare. They are ... Priest said the rising cost of health insurance is putting school workers in a bind.


saxplayer00o1's picture
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4236
So The US Is Almost $20 Trillion In Debt; Who Do We Owe?


So The US Is Almost $20 Trillion In Debt; Who Do We Owe?

ABC2 News-4 hours ago
According to the U.S. Treasury Department, the U.S. is more than $19 trillion in debt. But who does the U.S. actually owe? The largest debt is to American ...

Treasury to Sell $118 Billion in Debt

Wall Street Journal-16 hours ago
The U.S. Treasury Department will sell $118 billion in securities next week, comprising $52 billion in new debt and $66 billion in previously sold debt. Details (all ...

ECB reportedly rules out extension for Monte dei Paschi fundraising ...

The Guardian-1 hour ago
The decision by the European Central Bank to reject Italy's demand for more time to secure private funding for a bailout of Monte dei Paschi is likely to keep ...

India's demonetization drive hitting budget preparations: officials

Reuters-5 hours ago
"We had thought the demonetization will be a game changer," said one official, who has direct knowledge of budget preparations, adding the central bank ...

Los Angeles' Pension Problem Is Sinking The City

Forbes-17 hours ago
In the last 2 years, the city has put $2 billion into the system, accounting for ... Under this latter assumption, the city's pension debt is closer to $26 billion, and ...

Dallas Police & Fire Pension System approves suspending DROP ...

Pensions & Investments-18 hours ago
The pension fund reported about $6.9 billion in unfunded pension liabilities at the end of 2015, a 40% increase from the previous year, due primarily to realized ...

State and Local Workers' Pensions Eat Into Their Paychecks

Wall Street Journal (blog)-1 hour ago
These increasing contributions are “to make up for unfunded liabilities. ... governments didn't pay in the full amount required to keep their pensions fully funded.

The Problem With Obamacare Is That It Did Little To Reduce Overall ...

Nasdaq-3 hours ago
My concern was that it was not designed to reduce overall health care expenditures - it only redistributed costs between the insured. Obamacare was analogous ...

The cold road to debt free: Calgary man winters in unheated trailer

CBC.ca-14 hours ago
The cold road to debt free: Calgary man winters in unheated trailer ... He decide to "downgrade" his lifestyle after racking up $42,000 in a truck loan, student ...


DennisC's picture
Status: Gold Member (Offline)
Joined: Mar 19 2011
Posts: 341

Re: Dallas; good example of panic sooner than later.  Add yet one more "poster child" to the public pension ponzi.  There now seems to be plenty of material for a collegiate publishing company to put together some excellent case studies as class handouts for the latest crop of executive-MBA attendees.

TechGuy's picture
Status: Gold Member (Offline)
Joined: Oct 13 2008
Posts: 453
Re: Dallas Pension

DennisC Wrote:

" Dallas; good example of panic sooner than later."

Its even worse because City workers did contribute to SS or had other Supplimential retirement savings (ie 401K). When they run out of money the workers have nothing to fall back on. 


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