Daily Digest

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Daily Digest 3/9 - The Golden Mean, Industry Binge Can 'Kill' Oil Market

Thursday, March 9, 2017, 10:23 AM

Economy

Facing a Turning Point, European Central Bank Holds Fire (jdargis)

So the big question is when will the central bank start reducing its purchases of government and corporate bonds, a type of stimulus. On Thursday, it reiterated its plan to extend the purchases through the end of the year, but repeated its plan to reduce the size of the bond buying starting in April. When the program was announced in December, many economists interpreted that decision as a form of what is known as tapering.

What The Hell Is Going On? (thc0655)

The dissonance between what I have been observing and what is being flogged by the establishment mouthpieces in the corporate mainstream media has never been greater. Some of my observations are anecdotal, others are based on real unadulterated truthful data, a few are based on simple common sense and the rest are based on my understanding of what happens during Fourth Turnings.

Discount Retail: The Next Shoe to Drop? (Tiffany D.)

That is significant because discounters such as Dollar Tree Inc. (Nasdaq: DLTR) and Dollar General Corp. (NYSE: DG) have been bona fide growth stories for years. They carved out a widening niche in the minds of consumers (including my own family) as the place to go for all manner of cheap goods, from party favors to cleaning supplies.

The Golden Mean (DG)

My main view here is THE WHEN of this trend changing and exiting the BEAR ETF's for Gold and Silver. So far, on the Canadian Versions (only 2X), I am in HOLD Mode. So far for the US Versions it is also a hold.

Dow Euphoria (GE Christenson)

More debt is guaranteed by a century of fiat currency devaluations, a borrow-and-spend congress, the executive branch, central banks that love debt, and an economy that runs on debt and credit. Expect continued dollar devaluation and more Dow highs after a nasty correction/crash.

While the Dow corrects and the U. S. economy struggles in a fiat currency induced coma, gold and silver prices will rise.

Shale Billionaire Hamm Says Industry Binge Can ‘Kill’ Oil Market (jdargis)

The statement, at an energy conference in Houston on Wednesday, comes as top shale companies announce large increases in spending for this year, and the U.S. government says domestic oil output next year will surpass the record high set in 1970. OPEC ministers have said they are keeping a close watch on shale production to decide in late May whether to extend their oil-supply cuts into the second half of the year.

Electricity Consumption Continues To Fall (thc0655)

In economic parlance, electricity had a negative price and positive income elasticity. In the old days a 1.6 percent improvement in real gross domestic product (GDP) and a 2.5 percent real price decrease together should have spurred consumers to use at least 1-2 percent more electricity. But, with similar conditions in both 2015 and 2016, kWh sales declined in both years.

This Mysterious Oil Company Just Got A License To Drill In Crimea (Michael K.)

What’s more interesting, however, is that Novye Proekty is a private company, and private companies are not allowed to explore for oil and gas in the Crimean shelf, TASS notes. Prime Minister Dmitry Medvedev opened the door for license-issuing for Crimea last year, but only state-owned companies were to be allowed through it. Yet, here this company is, awarded a 30-year license with the obligation to drill a well within the next eight years.

Gold & Silver

Click to read the PM Daily Market Commentary: 3/8/17

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."

10 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 3917
European Central Bank says core inflation still too low

ECB Holds Rates Steady, QE Program Unchanged

Bloomberg-1 hour ago
The European Central Bank held rates steady and reaffirmed the decision to reduce monthly asset purchases to 60 billion euros from 80 billion euros beginning ...

ECB's Draghi stands firm on stimulus as inflation ticks up

Nasdaq-11 minutes ago
... to start winding down its 2.3 trillion euro ($2.43 trillion) bond-buying scheme, or at ... Investor nerves are affecting debt of periphery countries such as Italy and ...

European Central Bank says core inflation still too low

The Seattle Times - ‎26 minutes ago‎
President of the European Central Bank Mario Draghi speaks during a news conference in Frankfurt, Germany, Thursday, March 9, 2017, following a meeting of the ECB governing council. (AP Photo/Michael Probst) ...

Nigeria's debt rose 38 pct to 17.4 trln naira in 2016 -debt office

Nasdaq-4 hours ago
LAGOS, March 9 (Reuters) - Nigeria's total debt rose to 17.36 trillion naira ($56 bln) ... bond abroad this year and sell its first sovereign sukuk in the local market.

China's spiralling local government debt still out of control, says ...

South China Morning Post-11 hours ago
The last comprehensive survey of local government debt was carried out by the National Audit Office in 2013. Chinese local governments had 17.9 trillion yuan ...

US Credit Card Debt Nears $1 Trillion at End of 2016

Yahoo Finance - ‎22 hours ago‎
Americans added $60.4 billion to their credit card debt in the fourth quarter of 2016, the largest fourth-quarter debt increase since 2007. For the full year, U.S. consumers added $89.2 billion to their credit card debt and closed the year with a ...

US Consumers Rack Up $89.2 Billion In Credit Card Debt

WBIW.com-6 hours ago
(UNDATED) - U.S. consumers racked up $89.2 billion in credit card debt during 2016, pushing outstanding balances to $978.9 billion, which is roughly $3 billion ...

Some Indian Banks At Risk Of Debt Default, Warns Fitch

NDTV-8 hours ago
Fitch said Indian banks need around $90 billion fresh capital by 2019 to meet Basel III standards and government owned banks account for around 80 per cent ...

Chicago worst among 15 major cities grappling with pensions

Chicago Sun-Times-16 hours ago
“Chicago's combined debt service, required pension and actuarial ... Chicago taxpayers have paid a heavy price for easing the city's $30 billion pension crisis.
"

Chicago taxpayers have paid a heavy price for easing the city’s $30 billion pension crisis.

They’ve been hit with $838 million in property tax increases for police, fire and teacher pensions; a 29.5 percent tax on water and sewer bills to save the Municipal Employees pension fund and a 56 percent increase in the monthly tax tacked on to telephone bills — on cell phones and land lines — for the Laborers Pension fund."

Young Canadians could pay dearly for Liberals' deficit-financed spending: report

The Globe and Mail - ‎16 hours ago‎
A review of federal spending has found that Ottawa's budget for skills and innovation is already approaching $23-billion a year and there is little reporting on what it achieves, a finding that raises questions about Liberal plans to spend more in this ...

Greek farmers clash with riot police in Athens over austerity

The Guardian-21 hours ago
The violent clashes in the Greek capital were the latest unrest over increases in tax and social security payments. Photograph: Alkis Konstantinidis/Reuters.

CCSD bond rating downgrade comes amid Nevada property tax ...

Las Vegas Review-Journal-14 hours ago
A global credit rating firm has downgraded the Clark County School District's bond rating three levels from A+ to BBB+. The latest grade from Fitch Ratings ...

US Senate leader McConnell says US will raise debt ceiling

KFGO - ‎21 minutes ago‎
WASHINGTON (Reuters) - The United States will not default on its debt and will raise its debt limit in some fashion, U.S. Senate Leader Mitch McConnell said on Thursday in an interview with Politico. "The government is not going to default," McConnell ...

Palm Springs retiree healthcare costs exceed all the other desert ...

The Desert Sun-19 hours ago
“That makes all the difference in the world,” Ready said. READ MORE: Locals owe CalPERS $368M, but pension debt dropping. He's confident that OPEB costs ...

Artificial Intelligence Finishes 360000 Hour Workload In Seconds ...

EconoTimes-7 hours ago
JPMorgan Chase & Co. recently showed how an artificial intelligence could go through 360,000 hours of work reviewing documents by its lawyers in a matter of ...

Dying robots and failing hope: Fukushima clean-up falters six years ...

The Guardian-14 hours ago
Robotic mishaps aside, exploration work in the two other reactors, where radiation levels are even higher than in reactor No 2, has barely begun. There are ...

 

cmartenson's picture
cmartenson
Status: Diamond Member (Online)
Joined: Jun 7 2007
Posts: 5194
CIA and Amazon

Okay...this is funny...worth watching.

https://streamable.com/38l6e  

Time2help's picture
Time2help
Status: Diamond Member (Offline)
Joined: Jun 9 2011
Posts: 2605
Amazon Echo...dont' worry

SingleSpeak's picture
SingleSpeak
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Joined: Dec 1 2008
Posts: 487
CIA and Amazon update

I asked my Echo the same questions presented in Chris's post. 

The first 2 answers were the same. The answer to question #3 was:

"No, I work for Amazon."

I'm not sure that that actually answered the question I asked, but it was better than nothing.

SS

cmartenson's picture
cmartenson
Status: Diamond Member (Online)
Joined: Jun 7 2007
Posts: 5194
They must have fixed it.
SingleSpeak wrote:

I asked my Echo the same questions presented in Chris's post. 

The first 2 answers were the same. The answer to question #3 was:

"No, I work for Amazon."

I'm not sure that that actually answered the question I asked, but it was better than nothing.

SS

I'll bet they fixed that...

Time2help's picture
Time2help
Status: Diamond Member (Offline)
Joined: Jun 9 2011
Posts: 2605
That'd be great...

Bankers Slave's picture
Bankers Slave
Status: Gold Member (Offline)
Joined: Jul 26 2012
Posts: 492
What they wont teach you in school!

cmartenson's picture
cmartenson
Status: Diamond Member (Online)
Joined: Jun 7 2007
Posts: 5194
Finally! Some real news from the BBC.

This is as real as it gets.

Wait for it...

:)

laugh

I don't know...that kid in the walker barreling in and then the nanny skidding in...like a perfectly executed sitcom skit.  I'm laughing out loud here at my desk...

blackeagle's picture
blackeagle
Status: Silver Member (Offline)
Joined: May 16 2013
Posts: 187
As usual...

Most interesting things happens behind the scene or in the background!

Cute family!

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 3917
Dallas Police and Fire Pension Board Votes Against Lump-Sum DRO

Fitch Warns of 'Debt Challenge' Confronting UK Government

Bloomberg-20 hours ago
Fitch Ratings highlighted the “debt challenge” facing the U.K. government a day ... Britain remains on course to have a deficit of about 20 billion pounds in 2020.

Dallas Police and Fire Pension Board Votes Against Lump-Sum DROP Withdrawals

Dallas Observer - ‎5 hours ago‎
The checks were deposited in the accounts, which then collected guaranteed interest of between 8 to 10 percent. As reports swirled about the long-term health of the pension fund and its multi-billion-dollar unfunded liability last year, DROP pensioners ...

Pension costs soar for Ventura County cities

Ventura County Star-14 hours ago
That's just to pay the retirements benefits for hours already worked, debt known ... Those reports are behind, so for 2014, the plan was $241.4 billion shy of being ...

Mississippi's $89 million Medicaid problem: Hospitals furious

Meridian Star-13 hours ago
If Medicaid, a state agency, can't close the deficit with internal cuts, state code ... In the past decade, Medicaid's budget has ballooned to over a billion dollars, ...

Weekly Chart: The Burden of Brazil's Pensions

AS/COA Online - ‎19 hours ago‎
The plan faces criticism, but proponents see it as a primary way to fix the economy as the Brazilian pension system is responsible for nearly 97 percent of the public spending deficit. AS/COA Online looks into why pensions weigh so heavily on the ...

Pension costs for San Diego County governments continue to rise

10News-16 hours ago
"As the report indicates, governments throughout San Diego County need to reduce unfunded pension liabilities and provide defined contribution retirement ...

Legislative countdown: Rising PERS costs affect Portland ...

OregonLive.com-20 hours ago
Tuition increases, staffing cuts and deferred programs will likely hit campuses even if lawmakers successfully find ways to rein in future pension costs this ...

Unpaid sick leave will cost taxpayers $3.4 billion over the next three ...

Illinois Policy-17 hours ago
Top school district superintendents have used the sick-leave perk to boost their pensions by $350,000 or more over the course of their retirements.

 

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