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Daily Digest 6/27 - CA To List Herbicide As Cancer-Causing; Enter Google, Exit Bitcoin?

Tuesday, June 27, 2017, 9:13 AM

Economy

Blockchain Analysis: Enter Google, Exit Bitcoin? (DennisC)

We see Blockchain as totally changing Banking's (and a ton of other industries) face in the next 10 years. The "How" is dependent on the people at the helms of the industries affected by the C2C model blockchain enables. Secure individual ledger accounting kills disintermediators just like globex obviated many brokers and then how algos unemployed traders.

New Cyberattack Spreads Across Europe, Hits Rosneft, Maersk (jdargis)

The strikes follow the global ransomware assault involving the WannaCry virus that affected hundreds of thousands of computers in more than 150 countries as extortionists demanded $300 in bitcoin from victims. Ransomware attacks have been soaring and the number of such incidents increased by 50 percent in 2016, according to Verizon Communications Inc.

'I don’t understand why people have to struggle': views on healthcare in Trump country (jdargis)

About 49% of Americans get health insurance through their employer. Two more government programs – Medicaid, for the poor and disabled, and Medicare, for the elderly – insure about one-third of Americans. Those that don’t have an employer and don’t qualify for government, such as Fortner, are forced to buy it on the open market.

Tax cuts in the Republican plan would mostly benefit the wealthy and would be paid for mostly by cutting health services to the poor.

Economic Scene: When Cutting Access to Health Care, There’s a Price to Pay (jdargis)

In measure after measure of well-being in rich nations, Americans are among the worst off, with costs to the economy and to individuals.

Pizza Or Privacy? (Tiffany D.)

Despite feeling as if we should protect our information — and our friend’s information — the majority of Americans aren’t following through with a plan that will keep them safe. They are leaving themselves and their loved ones vulnerable to cyber criminals, so the big question here is…

Why?

Want a $1 Million Paycheck? Skip College and Go Work in a Lumberyard (jdargis)

84 Lumber is in the vanguard of a corporate quest to solve a labor market conundrum: Skilled and high-paying blue-collar jobs go unfilled, while millions take on loans to pay for degrees of dubious financial value. “You can go to college and learn the theology of the Roman Empire,” says Kleis, who just completed a three-day training program at 84 Lumber’s rural Pennsylvania headquarters. “You learn all this ridiculous nonsense, and when you get out, what are you applying that to? I know how to frame a house.”

Middle East At Point Of No Return As Saudi-Qatar Rift Deepens (Michael K.)

At present, the Young Prince of Riyadh, Mohammed Bin Salman, has been given the key to power. This has happened at a very difficult time for not only the Kingdom, but also for the whole Gulf region and its neighbors. The choice made by King Salman to promote his son is a remarkable one but could, from a Saudi perspective, be the only viable choice. The need for a 180 degree change in the economic and social policy which keeps Saudi Arabia a strategic regional player is essential. Without radical changes, such as those presented in Vision 2030 or the Aramco IPO project, the Kingdom’s future could be bleak, as the era for “Rentier States” is over.

California to list herbicide as cancer-causing; Monsanto vows fight (Adam)

OEHHA said the designation of glyphosate under Proposition 65 will proceed following an unsuccessful attempt by Monsanto to block the listing in trial court and after requests for stay were denied by a state appellate court and the California's Supreme Court.

Gold & Silver

Click to read the PM Daily Market Commentary: 6/23/17

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."

12 Comments

thc0655's picture
thc0655
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Posts: 1712
Yellen confirms event horizon is just around the corner

Yellen says "banks are very much stronger" and another financial crisis is not likely "in our lifetimes."  She can't be that clueless so her words must be a dog-whistle warning meant only for those who know better that the event horizon is almost upon us, perhaps just a matter of days.  On the surface her comments will reassure the herd but, for those few who can hear at dog whistle frequencies, her comments are the final warning to get to a place of safety from the impending collapse.

http://www.cnbc.com/2017/06/27/yellen-banks-very-much-stronger-another-financial-crisis-not-likely-in-our-lifetime.html

Irving Fisher anybody?  From Wikipedia:

The stock market crash of 1929 and the subsequent Great Depression cost Fisher much of his personal wealth and academic reputation. He famously predicted, nine days before the crash, that stock prices had "reached what looks like a permanently high plateau."[22] Irving Fisher stated on October 21 that the market was "only shaking out of the lunatic fringe" and went on to explain why he felt the prices still had not caught up with their real value and should go much higher. On Wednesday, October 23, he announced in a banker’s meeting "security values in most instances were not inflated." For months after the Crash, he continued to assure investors that a recovery was just around the corner. Once the Great Depression was in full force, he did warn that the ongoing drastic deflation was the cause of the disastrous cascading insolvencies then plaguing the American economy because deflation increased the real value of debts fixed in dollar terms. Fisher was so discredited by his 1929 pronouncements and by the failure of a firm he had started that few people took notice of his "debt-deflation" analysis of the Depression. People instead eagerly turned to the ideas of Keynes. Fisher's debt-deflation scenario has since seen a revival since the 1980s.

https://en.wikipedia.org/wiki/Irving_Fisher

sand_puppy's picture
sand_puppy
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Posts: 2034
When "credible" and "reputable" news agencies lie

Glen Greenwald tells the tale of the WaPo floundering "Russian Threat" narrative and the numerous retractions and corrections of late.

CNN Journalist Resigns:  Latest Example of Media Recklessness on the Russia Threat

If this continues, we may not be able to trust what they write!

Time2help's picture
Time2help
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Posts: 2888
USS Fitzgerald Scenario

Interesting scenario on the USS Fitzgerald collision. Not everything had to line up as this article states, but the rough outlines of the scenario (actual collision) do give pause for thought.

Stealth Attack On USS Fitzgerald Proves US Navy No Longer Controls Seven Seas (Millennium Report)

Quote:

Analysis of the Attack

What follows is a diagram of the route of the container ship which stuck the USS Fitzgerald. This route clearly indicates that the Fitzgerald was first immobilized by some foreign technology. Then the ACX Crystal, a Philippine-flagged container ship, came back around and directly rammed the Fitzgerald so that the captain’s cabin was crushed. Whoever was steering the ACX Crystal knew exactly what they were doing.

The following video clearly delineates the timing and location of each of the major pieces of this stealth attack. When described by a former seaman it’s quite apparent that this naval assault was well planned and well executed. “This video report is better than many others, as it’s made by an expert in accident investigation. The ship’s electronic capabilities were blocked, and the ship was blinded, before the cargo ship rammed it. Fitzgerald was able to avoid being cut in half but sustained a serious blow on the starboard side.”

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saxplayer00o1
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Powerball, Mega Millions ticket sales to be suspended, prize pay

Powerball, Mega Millions ticket sales to be suspended, prize ...

WGN-TV-1 hour ago
Powerball and Mega Millions are pulling out of Illinois effective tomorrow night because of the state budget crisis. Powerball ticket sales will end after tomorrow ...

 

Time2help's picture
Time2help
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Posts: 2888
USS Donald Cook

Source

Edit: Add in a silkworm swarm...

cmartenson's picture
cmartenson
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I find that dubious
Time2help wrote:

What follows is a diagram of the route of the container ship which stuck the USS Fitzgerald. This route clearly indicates that the Fitzgerald was first immobilized by some foreign technology. Then the ACX Crystal, a Philippine-flagged container ship, came back around and directly rammed the Fitzgerald so that the captain’s cabin was crushed. Whoever was steering the ACX Crystal knew exactly what they were doing.

 

First, if the Fitzgerald was being immobilized somehow I find it extremely unlikely that the Captain would not be roused and continue to slumber in his quarters.

Second, the AIS tracks being used to analyze micro details are anything but official and time aligned.  I'd think that minor movements would need to be analyzed from the ship-board GPS not the publicly available AIS data.  I don't know how accurate that stuff is in terms of space or time, but it isn't going to be as good as the on board tracking I'd bet. 

Finally, intent and systems controls are all things that will be known from analyzing the on board systems.

In the end, though, I frankly cannot believe a US Navy ship experienced a major systems malfunction and the bridge crew just decided, Ah screw it, let's let the Captain sleep.

saxplayer00o1's picture
saxplayer00o1
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Posts: 4237
More Illinois Headlines

IL DOT will halt construction projects without a state budget

KWQC-TV6-19 hours ago
On Monday, they met for just minutes. The Illinois Senate met for six minutes and eight seconds while the House met for four minutes and twenty-six seconds.

Social service groups warn of dire outcomes without budget

KWQC-TV6-21 hours ago
CHICAGO (AP) - Organizations that provide social services in Illinois are warning of dire consequences if state legislators don't come up with a budget this week.

Commission Says The Lack Of A State Budget Puts University ...

WNIJ and WNIU-9 hours ago
The HLC says that, without state funding, Illinois universities are at risk of losing their accreditation. SIU President Randy Dunn said that could be catastrophic.

EM superintendent: District could run out of cash if state doesn't pass ...

Quad-Cities Online-18 hours ago
Illinois has been without a budget since July 1, 2015. Mr. Humphries said if the state does not pass a budget by Friday night, the state would likely be ...

Lack of budget forces YWCA to end Medivan services

CIproud.com-1 hour ago
"Due to the lack of a state budget and lack of consistent local funding, we had to make the difficult decision to end this program," says D. Dontae Latson, CEO ...

Senate, Assembly Republican Budget Talks Break Down

U.S. News & World Report-4 hours ago

Budget talks between Assembly and Senate Republicans broke down Tuesday, with leaders from both sides abruptly ending a closed-door meeting ... 39/90 from Madison to Illinois, the reconstruction of I-94 from Milwaukee south to Illinois .

Illinois politicians are once again eyeing a “temporary” income tax ...

Illinois Policy-5 hours ago
History shows Illinois politicians favor tax hikes over spending reform, and the Tollway ... Stratton's original Tollway projections were actually incorrect, as money ...

Medicaid patients to ask judge to make Illinois pay its bills faster

Chicago Tribune-6 hours ago
That means the Illinois comptroller might have to violate other court orders and state laws that require prompt payouts for state employee salaries, debt payments ...

Talks over boosting Illinois Medicaid payments fail

Business Insider-20 hours ago
CHICAGO (Reuters) - A U.S. judge should order Illinois to pay Medicaid ... The state comptroller last week pledged to not delay or diminish debt service ...

 

TechGuy's picture
TechGuy
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Posts: 453
Re:USS Fitzgerald Scenario

From what I read, the ACX made a course correction to avoid the collision as well as trying to contact the Fitzgerald. The Fitzgerald made a sudden and unexpected course change. Cargo ships can not make sharp course changes.

BTW: this is not the first big snafu with US Frigates. In the 1980s a Frigate shot down an Iranian passenger jet, The USS Stark which turned off its defense systems and was nearly sunk by an attack by an Iraqi fighter plane. Just this January, the USS Antietam ran aground in Japan.

I think when the full story comes out, the incident was caused by human error by the Fitzgerald crew. Its possible they may have be performing a drill, simulation or tracking a submarine, that distracted them, I am sure there will be plenty of hearings about the incident over the next few months.

 

 

TechGuy's picture
TechGuy
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Posts: 453
Re:More Illinois Headlines

Thanks SaxPlayer!

Does anyone think that Illinios will not file for Bankrupcy in 12 months or less? with over 15B in unpaid bills some as old as seven year. I can't see how Illinois avoids bankruptcy. I know states can't legally declare bankruptcy, but laws change all the time, and I there is no way IL is going to pay all its debts.

 

Time2help's picture
Time2help
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Posts: 2888
Re: USS Fitzgerald Scenario
cmartenson wrote:
Time2help wrote:

What follows is a diagram of the route of the container ship which stuck the USS Fitzgerald. This route clearly indicates that the Fitzgerald was first immobilized by some foreign technology. Then the ACX Crystal, a Philippine-flagged container ship, came back around and directly rammed the Fitzgerald so that the captain’s cabin was crushed. Whoever was steering the ACX Crystal knew exactly what they were doing.

 

First, if the Fitzgerald was being immobilized somehow I find it extremely unlikely that the Captain would not be roused and continue to slumber in his quarters.

Second, the AIS tracks being used to analyze micro details are anything but official and time aligned.  I'd think that minor movements would need to be analyzed from the ship-board GPS not the publicly available AIS data.  I don't know how accurate that stuff is in terms of space or time, but it isn't going to be as good as the on board tracking I'd bet. 

Finally, intent and systems controls are all things that will be known from analyzing the on board systems.

In the end, though, I frankly cannot believe a US Navy ship experienced a major systems malfunction and the bridge crew just decided, Ah screw it, let's let the Captain sleep.

Who said the Captain was sleeping? The Main Stream Media?

If the power were down I'm with you 100% there; I'd fully expect he'd be on the bridge or in CIC working the problem. Judging from the hit that ship took one could just as easily be seriously injured on the bridge or in a stateroom. And if a Naval ship takes a hit, it always falls on the CO. No exceptions I'm aware of (except perhaps the Liberty). So how best to cover this mess up?

This "accident" smells fishy. That's 4 years on the bridge of a guided missile cruiser speaking. A large tanker ramming a Naval ship broadside with all of the redundant satcom/surface sweep radars/lookouts that operate 24/7 on a naval ship?

Maybe. Maybe not.

Turn all that electronic crap off on a dark night and it gets a lot more plausible.

Note the disclaimer:

Quote:

Interesting scenario on the USS Fitzgerald collision. Not everything had to line up as this article states, but the rough outlines of the scenario (actual collision) do give pause for thought.

ezlxq1949's picture
ezlxq1949
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Posts: 265
Fitzgerald Precedents

In 1964 the Australian aircraft carrier Melbourne cut the Australian destroyer Voyager in half. Great loss of life. The inquiry was inconclusive.

In 1969 the Melbourne cut the US destroyer Evans in half. "Four officers (the captains of Melbourne and Evans, plus the two junior officers in control of Evans at the time of the collision) were court-martialled based on the results of the inquiry; while the three USN officers were charged, the RAN officer was cleared of wrongdoing."

More details in Wikipedia.

The Melbourne was given the grim nickname of the "destroyer destroyer."

In this era of multiple radars and satellite comms and the traditional human lookouts, it's difficult to understand how the Fitzgerald ran into trouble. Destroyers are nimble by design, container carriers are not.

I look forward to the results of the inquiries.

Time2help's picture
Time2help
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Posts: 2888
Either way
Quote:

In this era of multiple radars and satellite comms and the traditional human lookouts, it's difficult to understand how the Fitzgerald ran into trouble. Destroyers are nimble by design, container carriers are not.

Agreed and agreed.

Can one keep too open a mind? Perhaps so. One thing I do know is that when it comes down to any MSM spouted "official narrative" of events - I've developed somewhat of a trust issue.

Something feels "off" on this one.

Either way, really sucks for the crew.

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