Daily Digest

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Daily Digest 1/9 - Predictions For 2017, Why Employers Are Rolling Back Raises

Monday, January 9, 2017, 10:21 AM

Economy

Ready or Not, Republicans Say Cabinet Hearings Will Begin Tuesday (jdargis)

Senator Mitch McConnell of Kentucky, the majority leader, signaled on Sunday that he was unwilling to reschedule any confirmation hearings, which are set to begin with sessions for John F. Kelly, Mr. Trump’s choice to be the secretary of Homeland Security, and for Senator Jeff Sessions of Alabama, the nominee to be attorney general. Five more hearings are scheduled for Wednesday.

Mr. McConnell dismissed the Democrats’ complaints as sour grapes during an appearance on CBS’s “Face the Nation.”

Forecasting Intelligence: Predictions For 2017 (James W.)

Those who have read my “winter is coming” post will understand that powerful structural forces, including accelerating climatic change, the peaking of global conventional oil supplies and growing resource and water scarcity around the world are a mega-trend which will shatter the current business-as-usual model over the coming decades. Coupled with the huge levels of debt in the global financial system, the sovereign bond super-bubble and the long-term stagnation of wages across the developed world, it is therefore not surprising that there are growing warnings about the longevity of our globalised liberal world order.

Pessimist's Guide To 2017 (jdargis)

From social breakdown in the U.S. to a nuclear crisis in North Korea to the defeat of Angela Merkel in Germany, the potential for chaos is just as great.

These aren’t predictions. But they show what your social-media news feed could look like if things go wrong.

In Election Hacking, Julian Assange’s Years-Old Vision Becomes Reality (jdargis)

Yet last week brought the sight of Mr. Hannity speaking with Mr. Assange in glowing terms about “what drives him to expose government and media corruption” through Clinton campaign hacks that American intelligence has attributed to Russia. And Ms. Palin hailed him as a great truth teller, even apologizing for previous unpleasantries. (Cue sound of needle sliding across record album.)

O.K., the fact that WikiLeaks’ election-year splash was bad for the Democrats and good for President-elect Donald J. Trump may have a teeny-weeny bit to do with their change of heart.

When The Feds Went After The Hedge-Fund Legend Steven A. Cohen (jdargis)

Cohen was a captivating figure on Wall Street. He was not the sort of investor who, like Warren Buffett, took a large stake in a company and held it for years, immersing himself in how the business worked. He was a short-term speculator, who had built a vast personal fortune by placing high-volume bets on small movements in stock prices; he was often driven by earnings announcements and other such events, and maintained high returns, against the odds, year after year. He was short and thick, had a fierce mind and a quick temper, and he lived in a thirty-five-thousand-square-foot mansion in Greenwich, Connecticut. A passionate art collector, he would spend a hundred million dollars or more on a single work.

Small Dogs Have a Bigger Bite (Tiffany D.)

The Dogs of the Dow is a simple approach to investing that you implement at the beginning of each year.

You simply identify the stocks within the Dow Jones Industrial Average that have the highest yield right before the end of the year, then you buy those stocks at the start of the new year and hold them until the end.

Why Employers Are Rolling Back Raises (jdargis)

The implementation of the executive order was temporarily blocked by a federal judge in Texas back in November, and is now expected to be fully undone by Obama’s successor, President-elect Donald Trump. While it’s not certain that Trump will roll back the measure—which would aid the many of the working-class voters that elected him—the president-elect’s nomination of fast-food executive Andy Puzder as his labor secretary suggests it’s a likely bet. As my colleague Alexia Campbell noted last month, Puzder has been a vocal critic of Obama’s overtime order saying that the measure “will simply add to the extensive regulatory maze the Obama Administration has imposed on employers, forcing many to offset increased labor expense by cutting costs elsewhere.”

Brexit could leave fields of rotting crops in Britain if migrant workers stay away (jdargis)

Britain’s immigration policy will be one of the central themes of the upcoming Brexit negotiations, which are expected to last up to two years. And many industries that rely on foreign labor — from construction to cleaning — are anxious about continued access to migrant workers after Britain leaves the European Union.

Gold & Silver

Click to read the PM Daily Market Commentary: 1/6/17

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."

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Time2help
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U.S. tanks roll into Germany

U.S. tanks roll into Germany to protect against potential Russian invasion (CBS News)

Quote:

NORTHERN GERMANY -- U.S. Tanks rolled into Germany this weekend.

The deployment -- which also includes 3,500 U.S. Troops -- is to protect Eastern Europe against a potential Russian invasion.

In the dock area of the German city of Bremerhaven all around is American military hardware just off the boat -- everything from Humvees to tanks.

The official name for this display of military muscle is Operation Atlantic Resolve.

Its purpose is to reassure America’s nervous European allies that the U.S. military will stand with them against any aggressive moves by Russia. Moves, like the 2014 invasion of Crimea, when Russian troops arrived in what had been Ukraine -- and seized it for the Kremlin.

U.S. tanks roll into Germany to bolster NATO deterrent (Military Times)

Quote:

BERLIN — Ships began unloading U.S. tanks, self-propelled howitzers and hundreds of other fighting vehicles Friday in the northern German port of Bremerhaven, to be moved into Eastern Europe to bolster NATO's deterrence against possible Russian aggression.

Some 3,500 troops from the 4th Infantry Division in Fort Carson, Colorado, will join up with the equipment, which includes 87 tanks and 144 Bradley fighting vehicles, over the next two weeks.

The deployment marks the start of a new phase of Operation Atlantic Resolve, which foresees the continuous presence of an American armored brigade combat team in Europe on a nine-month rotational basis. The mission is meant to help allay concerns from Estonia, Latvia, Lithuania, Poland and other NATO allies over an increasingly unpredictable and bellicose Russia.

Russia says it starts Syrian drawdown with aircraft carrier (Military Times)

Quote:

MOSCOW — Russia announced on Friday that it is withdrawing its aircraft carrier and some other Russian warships from the waters off Syria as the first step in a drawdown of its forces in the war-torn, Middle Eastern country.

According to Russian General Staff chief Gen. Valery Gerasimov, the Admiral Kuznetsov carrier and accompanying ships are to be the first to leave.

The declaration comes a week after Russia and Turkey brokered a cease-fire in Syria, following a decisive Moscow-backed victory for the government of Syrian President Bashar Assad over rebels in the city of Aleppo.

It's also the second time Moscow has announced scaling back its military presence in Syria since Russia threw its military weight behind the Syrian government in September 2015.

Russia's support, with airstrikes and military advisers — along with the boosting of its arsenal and a naval base on the Syrian coast — changed the course of the civil war, now in its sixth year, in favor of Assad.

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Time2help
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Parents, save up: Cost of raising a child is more than $233K

 

Devaluation Looms for Nigeria Even as Forwards Ease on Oil

Bloomberg-7 hours ago
While the naira has plummeted almost 40 percent since central bank Governor Godwin Emefiele in June ended a 15-month peg to the U.S. dollar, traders say it's ...

Diving deeper: Gulf debt issuance to surge in 2017

Al-Bawaba - ‎4 hours ago‎
Debt issuance from the GCC is expected to surge in 2017 with sovereign issuers leading while conventional bonds outstripping sukuk both in terms of amounts raised and number of issues, according to market analysts. The decline in oil prices over the ...

Saudi Arabia said to be mulling cancellation of $20bn projects

ArabianBusiness.com-4 hours ago
The deficit shrank to 297 billion riyals ($79 billion) in 2016. That was well below a record 367 billion gap in 2015, and below the government's projection in its ...

S. Korea heading toward economic storm with no remedy in sight ...

Yonhap News-15 hours ago
The central bank earlier said the country's household debt reached a record high of 1,295.8 trillion won ($1,076 billion) as of end-September, up 11.2 percent ...

China Reserves Slumped $320 Billion Last Year as Yuan Tumbled

Bloomberg - ‎19 hours ago‎
China's government is well positioned to control outflows more effectively if it wants to, though it may not want to be seen as reversing China's 'opening' strategy,” Wang Tao, head of China economic research at UBS Group AG in Hong Kong, wrote in a ...

More British families forced to borrow to pay for everyday lives

Guardian - ‎7 hours ago‎
The analysis also found that the total of unsecured debt rose to 349 billion pounds (429 billion U.S. dollars) in the third quarter of 2016, a record high, and well above the 290 billion pounds (357 billion U.S. dollars) peak in 2008 ahead of the ...

County Supervisors Add To Their Pension Payouts During Last ...

KPBS-2 hours ago
San Diego County's pension fund has more than $2 (B) billion dollars of unfunded liability; the exact amount changes depending on market returns each year.

Obamacare Repeal Could Punch $15 Billion Hole in State Budget

KQED - ‎8 hours ago‎
Jerry Brown unveils his 2017-18 budget Tuesday, there will be one huge question mark hanging over the proposal: What will it cost California when congressional Republicans follow through on their promise to dismantle Obamacare? GOP lawmakers, along ...

Parents, save up: Cost of raising a child is more than $233K

WDAM-TV - ‎27 minutes ago‎
State governments and courts also use the information to write child support and foster care guidelines. The main costs include housing, food, transportation, health care, education, clothing and other miscellaneous expenses. Things to know about how ...
 

It costs $233610 to raise a child

NBC2 News - ‎37 minutes ago‎
While child care and education expenses are higher for children under six, those expenses often dissipate as kids get older and enter school full time. Transportation, food, health care and clothing costs all rise as children age. For example, parents ...

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