Daily Digest

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Daily Digest 7/11 - Earth's 6th Mass Extinction Event Underway, The Safest Investment In Troubled Times

Tuesday, July 11, 2017, 9:56 AM

Economy

What's the Safest Investment in Troubled Times? (cmartenson)

No matter what happens in the global economy, people will still need to eat and they will need fertilizer to grow enough food to avoid mass starvation. People will trade oil, gold, whatever they have of value for food, and while everybody knows about fresh water, good soil and oil to run the tractors and delivery vehicles, the essential role of wide-spectrum fertilizers is often unappreciated.

Drugmakers’ Money-Back Guarantees: an Answer to Rising Prices or a ‘Carnival Game’ (jdargis)

Robert Zirkelbach, a spokesman for the Pharmaceutical Research and Manufacturers of America, the industry trade group, said the approach was in keeping with a trend toward paying doctors and hospitals for the quality of care they deliver rather than the number of services they provide.

Trump election commission stops collecting personal voter data—for now (jdargis)

"Today, July 10, 2017, the Commission also sent the states a follow-up communication requesting the states not submit any data until this Court rules on plaintiff's TRO motion," the government wrote (PDF) the court. The commission e-mailed state election officials early Monday that, "Until the judge rules on the TRO, we request that you hold on submitting any data."

Oil Fields Pumping a Third of Supply Die Fastest in 24 Years (cmartenson)

The three-year price slump triggered by the battle for market share choked off funds for aging deposits elsewhere, accelerating their decline. Output at older fields from China to North America -- making up a third of world supply -- fell 5.7 percent last year, the most since 1992, according to Rystad Energy AS. It’ll drop about 6 percent in 2017 if oil stays at current prices, the consultant said.

The Major Wildcard That Could Send Oil To $120 (Michael K.)

But there are a few reasons why some analysts would roll their eyes at the prospect of triple-digit oil prices in the near future. After all, oil inventories are still sky-high even if they are starting to come down; U.S. shale production has roared back, adding roughly 0.5 mb/d since late last year; and Libya and Nigeria have restored around 400,000 barrels per day of disrupted production. Not only that, but sharper gains are expected to be forthcoming from the U.S., Nigeria and Libya, while other long-term projects in Canada and Brazil are set to add production this year.

Earth's sixth mass extinction event under way, scientists warn (LesPhelps)

The scientists found that a third of the thousands of species losing populations are not currently considered endangered and that up to 50% of all individual animals have been lost in recent decades. Detailed data is available for land mammals, and almost half of these have lost 80% of their range in the last century. The scientists found billions of populations of mammals, birds, reptiles and amphibians have been lost all over the planet, leading them to say a sixth mass extinction has already progressed further than was thought.

Despair All Ye Who Enter Into the Climate Change Fray (jdargis)

Mann’s position is that the evidence supporting the notion that climate change is “a serious problem that we must contend with now” is overwhelming enough without a doomsday narrative that he fears has a “paralyzing” effect and makes people feel hopeless, potentially deterring efforts to mitigate the human-caused harm.

A Road Trip to the End of the World (jdargis)

A sole mayfly buzzes in and out of your sight—its presence in this desolate wilderness is comforting. Scrambling over the red sand, and gasping for air, you follow the distant roar. You notice that, though the sun is out, there’s a funereal gloom to the day. As you crest the dunes you see why. A strange ocean spreads out before you, hosting the largest waves you’ve ever seen. They’re eerily backlit and slosh a sickly purple and green. Through the haze, and over the roiling ocean, a sublime darkness organizes on the horizon.

Gold & Silver

Click to read the PM Daily Market Commentary: 7/10/17

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."

8 Comments

cmartenson's picture
cmartenson
Status: Diamond Member (Offline)
Joined: Jun 7 2007
Posts: 5344
Bubbles, bubbles, toil and trouble

This massive bubble in Chinese RE will eventually crack...will hundreds of billions be wiped out, or several trillions?

It's gonna be ugly.

Where will the Chinese people safe guard their wealth if they can no longer trust their stock market nor real estate?

At any rate, a reminder on bubbles never hurts...they always burst.

https://www.peakprosperity.com/video/85852/playlist/92161/crash-course-c...

 

thc0655's picture
thc0655
Status: Diamond Member (Offline)
Joined: Apr 27 2010
Posts: 1415
Canadians wait for surgeries while cosmetic jobs go on

http://nationalpost.com/health/as-some-patients-wait-for-necessary-surgeries-public-hospitals-perform-private-cosmetic-operations-in-ors/wcm/610fb5e8-af2b-4a79-9789-514f30c28585

While some Canadians wait months to undergo medically necessary surgeries, public hospitals across the country are routinely providing operating-room space for cosmetic, privately paid operations, a National Post survey reveals.

Breast enhancements, nose jobs and other aesthetic procedures are being carried out during daytime hours — employing the same facilities and support staff used for heart bypasses or liver transplants, hospitals and surgeons confirm.

Of 16 hospitals or health regions in seven provinces that responded to questions from the Post, 11 said they permit at least some cosmetic surgery cases, with one recording 168 such cases last year.

The institutions stress it’s still a small fraction of the total number, but the phenomenon underscores a surprising reality of Canada’s health-care system: despite the demand and long queues, governments often don’t provide enough money to fill standard operating-room hours — typically 8 a.m. to 3:30 p.m. — with medically necessary surgeries, the facilities say.

I can see how in certain segments of society (aesthetic surgery in public facilities) would raise eyebrows. I can also see this is a means for hospitals to raise revenue

That means there’s room to allow patient-paid, non-medical work without affecting wait lists at all, they say.

“It’s quite obvious that we could be utilizing those operating rooms for a longer period of time for performing medically necessary surgeries,” said Dr. Mitchell Brown, spokesman for the Canadian Society of Plastic Surgeons. “All you have to do is look at the waiting list for surgeries.”

Indeed, the delay even for heavily funded “priority” treatments like hip replacements remains daunting. More than 20 per cent of those patients in 2016 waited longer than the recommended six months after first seeing an orthopedic surgeon, according to the Canadian Institute for Health Information.

Meanwhile, while most hospitals say they charge patients who have cosmetic work done in their ORs, one surgeon says the fees are often less than what’s demanded by private clinics with more limited facilities.

 

thc0655's picture
thc0655
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Posts: 1415
Proposed: track Australian $50 and $100 notes with nanochips

https://smallcaps.com.au/australia-track-hundred-note-cashless-society/

The Australian government plans to crack down on the ‘black economy’ by implanting $100 and $50 notes with hi-tech nano-chips so they can be surveilled.

No this isn’t a futuristic Hollywood movie, this is Australia in 2017.

With around 300 million $100 notes in circulation carrying out such a task seems almost impossible to derive any value, let alone a waste of time and tax payer money.

Especially at a time when Australia’s household debt-to-income is at an all time high.

Nevertheless Michael Andrew, the man appointed by the Federal government to lead the ‘Black Economy Taskforce’ at the end of 2016 believes tracking the currencydenomination is the best solution in stopping unwanted transactions from taking place and people avoiding paying tax.

According to the The Treasury the black economy:

“…refers to people who operate entirely outside the tax and regulatory system or who are known to the authorities but do not correctly report their tax obligations.”

That sounds good and well until we read on to find out who these people targeted by the agency actually are and how they seem to think $100 note is to blame.

Mr Andrew claims that the $100 note should be tracked with nanotechnology due to:

  • Australian pensioners hoarding money under their bed to escape asset tests.
  • Chinese citizens taking Australian $100 notes back to China because it is apparently more trusted than the internationally superior Yuan.

This government created Black Economy Taskforce wants us to believe that Grandma is hoarding hundreds of thousands of dollars under her mattress in stacks of $100 notes.

Perhaps these pensioners, if they even are hoarding money (which is not illegal in itself), are doing so because the federal government is hiring people like Mr Andrew with our tax money to work out ways the public can be further surveilled and tracked.

As for Chinese citizens, there is a $10,000 limit on taking cash out of the country so I doubt this is any cause for concern.

But is this all part of a bigger agenda?

sand_puppy's picture
sand_puppy
Status: Diamond Member (Online)
Joined: Apr 13 2011
Posts: 1580
Mad Max Highway Robbery in Venezuela

I will bet many already saw this:  A group of motorcyclists stop a sugar delivery truck in Venezuela using Molotov cocktails and then robs it.

Uncletommy's picture
Uncletommy
Status: Gold Member (Offline)
Joined: May 4 2014
Posts: 401
Extinction: Who needs asteroids?

His message remains blunt today: “Show me a scientist who claims there is no population problem and I’ll show you an idiot.” Paul Ehrlich

Mass migrations are usually the developing symptoms of collapse. Pick your country: Somalia, Venezuela, the Middle East, China, India. The graph in the Guardian article points out that North America and South America (?) are prime targets for desperate people looking for a better life.

http://www.cbc.ca/news/canada/legacy-refugees-resources-dion-1.4191984

 

thc0655's picture
thc0655
Status: Diamond Member (Offline)
Joined: Apr 27 2010
Posts: 1415
Desperation in Baltimore

https://squawker.org/analysis/chaos-citizen-cease-fire-issued-in-baltimore/

Citizens are urging one another, "Nobody kill anybody" for 72 hours August 4-6.  Wow: I wish I had thought of that!  Think of how much city money they won't have to spend on police if this works, both in Baltimore and around the country.  

thc0655's picture
thc0655
Status: Diamond Member (Offline)
Joined: Apr 27 2010
Posts: 1415
Who's paying for the "immigrant rescues" from North Africa?

This is a massive effort by Soros and others like him. There was no market for these boats prior to the planned hijra invasion of Europe. They have no sporting or military use and were not built anywhere in the world prior to the migrant invasion.

Boat plus engine cost at least $10,000, and probably double or triple that, delivered to Libya. They are suitable only for short-range one-time use by migrants who have the expectation of being picked up by NGO “rescue ships” that will ferry the migrants to Italian ports.

These massive and overloaded rubber boats are death traps if the weather turns bad or they are not “rescued” almost immediately, and within sight of Libya, by waiting NGO ships.

This invasion of Europe under the guise of an ongoing “rescue operation” is as carefully planned as D-day in 1944. There are deep pockets behind it, and Quisling traitor politicians in Italy and Europe who are being bribed to continue the charade. Concerning the likes of Reinier Boere, the SeaWatch mission director seen in the video, words fail me.

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Online)
Joined: Jul 30 2009
Posts: 3966
Pool of Negative-Yield Debt Shrinks Rapidly as Bond Market Turns

Pool of Negative-Yield Debt Shrinks Rapidly as Bond Market Turns

Bloomberg-9 hours ago
The selloff in global bonds that started in June means there is $6.5 trillion of securities in the Bloomberg Barclays Global benchmark index that guarantee losses ...

 

Credit card users rack up over $1 trillion in debt

CNBC-21 hours ago
Altogether, total household debt, including mortgages, student loan balances, credit cards and car loans, reached $12.73 trillion in the first quarter of this year ...

Hartford Debt Dropped To Junk Bond Status By Standard & Poor's

Hartford Courant-11 hours ago
Standard & Poor's downgraded Hartford debt to junk bond status late Tuesday, less ... That reflects a strong possibility that Hartford could default on its debt or ...

Oil Majors Face Downgrades if Crude Prices Don't Pick Up: S&P

New York Times-8 minutes ago

LONDON — Big oil firms would face increased credit rating downgrade ... Oil majors' debt levels have ballooned with aggregate debt reaching nearly $300 ..

S&P cuts Venezuela debt ratings, sees risk of default

Luxemburger Wort - English Edition-4 hours ago
S&P cuts Venezuela debt ratings, sees risk of default ... The downgrade "reflects continued deterioration in economic conditions, rising political tensions, ...

 

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