Daily Digest

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Daily Digest 12/15 - Ex-pharma Execs Charged For Fixing Drug Prices, Honeymoon Markets Will End In 2017

Thursday, December 15, 2016, 11:11 AM

Economy

Mike Maloney: Trump Honeymoon in Markets Will End in 2017 (pinecarr)

On gold and silver being shamelessly and illegally suppressed, Maloney says, “The great news, and everybody thinks this is all bad and there is an opposite side to everything, you get to buy gold and silver at an artificially suppressed price while this is going on. When it’s all over, it won’t be suppressed anymore, which means far higher prices. . . . The long-term manipulations will come to an end. . . . We are seeing a perfect storm develop, and it’s been developing for a few decades. There will be a time when shortages will be enormous.”

Not Just Dallas: Fort Worth Employees’ Pension Plan in Deep Trouble (reflector)

The Fort Worth “City” Pension plan has a liability of $1.271 Billion on assets of only $2.094 billion.

The “Staff” plan which covers the people running the pension plan is in better shape.

Amazon Warehouse Workers Have Resorted To Sleeping In Tents (Merle2)

According to the newspaper, the worker, who wished to remain anonymous, said that they couldn’t afford to pay to travel to work and back from their home in Perth—around a 60 mile round trip. While Amazon pays its Scottish staff above the minimum wage in Britain, workers can be pushed to work up to 60 hours a week. The company provides a bus transport for workers, but this can cost up to £10 a day, more than an Amazon worker’s initial hourly pay of £7.35 ($9.30).

The Last Chance For Gold (Tiffany D.)

In short, if you were waiting on the sidelines after this year’s monster rally, this is your second chance — and, in my view, your last chance — to buy gold at these prices. And it comes at just the right time.

Headed home: Many workers abandon building sites after black money crackdown (reflector)

Property enquiries, meanwhile, have slumped by 80% around the capital since the cash crackdown, according to property portal 99acres.

Getamber Anand, president of Indian builders’ association CREDAI, said projects nationwide had been hit, and estimated that roughly half of the migrant workforce, numbering in the low millions, had left for home.

When Denmark Criminalised Kindness (jdargis)

In judicial terms our crime consisted of aiding, transporting and harbouring persons without valid travel documents. That’s the lift and the coffee. I had to ask what ‘valid travel documents’ meant. They explained that it is a valid passport and a valid visa. I was not aware of the law, and the idea of asking the family for valid travel documents never entered my mind. I have never asked anybody for valid travel documents before when offering them a lift. And when we had asked the police at the time – both by phone and at the site – none of them had mentioned anything about valid travel documents. Even if they had presented Syrian passports to me, I wouldn’t have been able to judge whether they were valid or not.

Ex-pharma execs charged by feds for fixing generic drug prices (jdargis)

The charges come on the heels of furor from the public and lawmakers over skyrocketing drug prices. Most notably, Martin Shkreli, former CEO of Turing Pharmaceuticals, made headlines last year for jacking up the price of a life-saving anti-parasitic medication by 5,000 percent overnight. This year, Mylan has faced harsh criticism for lawmakers for steadily raising the price of life-saving EpiPens by more than 400 percent.

Oil Spikes After EIA Reports Surprise Draw To Crude Inventories (Tom K.)

Gasoline inventories rose by 500,000 barrels in the seven days to December 9, exceeding the upper limit of the historical average for this time of year, while distillate inventories were down by 800,000 barrels on the week. Gasoline inventories have seen builds over the past five weeks, just as winter takes over and demand for the product declines.

Gold & Silver

Click to read the PM Daily Market Commentary: 12/13/16

Provided daily by the Peak Prosperity Gold & Silver Group

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China Halts Trading in Key Bond Futures as Panicky Investors Sel

China's 10-Year Sovereign Bond Yield Surges by Most on Record

Bloomberg - ‎10 hours ago‎
China's bond selloff is part of a global trend. With U.S. Treasuries declining amid expectations of more Federal Reserve tightening after Wednesday's interest-rate increase, the gap between the U.S. and Chinese 10-year yields narrowed to the least in ...

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