Daily Digest

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Daily Digest 7/27 - Fed Is Preparing To Crash The System, BC LNG Project No Longer Proceeding

Thursday, July 27, 2017, 8:31 AM

Economy

Why & How to Hedge the Growing Risks of Holding Equities (Stilni P.)

At the same time, of course, as you pointed out, precious metals have not been exactly in huge demand in that sort of environment. That is because, hey, future cash flows are safe. Now if volatility goes up, then suddenly you've got headwinds to those future cash flows. An advantage to having gold that has no cash flow is that we're merely discounting that change. So, relatively speaking, when volatility goes up, gold is more in favor. That's one of the reasons why when there's a so-called crisis in the world, gold tends to do well.

This Chart Might Make You Rethink the Adage “Stocks Always Come Back” (Adam)

Years later, after recalling my Dad’s grumbling about inflation in the late 1970s, I had a second question: if the Dow did end up taking a protracted time to get back to even, wouldn’t inflation erode my real rate of return? If it took a portfolio-killing ten years, for example, I might have earned back that $20,000 I lost, but now the car I’d planned to buy with that money cost not $20,000 but $30,000. Or $40,000. Show me all the long-term charts you want but I still can’t afford to buy that car.

Warning: The Fed Is Preparing To Crash The System Again (rector)

Yes, a senior Fed official, and one who has a direct line to Fed Chair Janet Yellen, stated that the stock market is running on “fumes.” This degree of bearishness from ANY Fed official is incredible. But for Williams to make a statement like this on the very same day that the Fed Vice-Chair pointed out that stocks are overvalued is like a six sigma event.

This is a CLEAR signal that the Fed is ready to let stocks fall from their lofty levels. But before anyone panicked, Fed Chair Janet Yellen appeared to assure us that the Fed stands ready to halt any financial crisis from occurring when the drop comes.

Don’t Let a Stock Market Shake-Up Ruin Your Portfolio (Tiffany D.)

Historically, September and October have marked difficult trading periods for the stock market, with indexes frequently suffering sharp losses during those months. There are numerous market pundits and talking heads who are saying that stocks are overvalued and have run too far. They are all searching for that black swan that will topple everything.

Are earnings going to be the death knell for this rally?

Amid the Blaring Headlines, Routine Reports of Hate-Fueled Violence (jdargis)

The specter of hate incidents and crimes — some of them fueled by the nastiness of the 2016 presidential campaign — felt white hot months ago. The issue remained high-profile as several horrific murders — a South Asian immigrant slain in Kansas City, a homeless black man butchered near Times Square in New York — generated outrage and national news coverage.

Pacific NorthWest LNG project in Port Edward, B.C., no longer proceeding (Yoxa)

Speaking at a news conference, B.C. Minister of Energy, Mines and Petroleum Resources Michelle Mungall said the project was "uneconomical to move forward. We respect the company's decision."

Mungall denied that the decision was related to B.C.'s new NDP government's position on LNG projects.

Trump’s U.S.-Steel Pipeline Plan To Backfire On Energy Projects

The Steel Manufacturers Association (SMA)—whose members represent 75 percent of U.S. steelmaking capacity – strongly supports the intent of the American-steel-first policy, arguing that it would boost the economy, increase capital investments, and create American jobs.

“With capacity utilization rates hovering around 70 percent, the domestic steel industry has ample existing capacity to supply materials for pipeline projects,” SMA President Philip K. Bell says. “This plan is also a critical component in the achievement of U.S. energy self-sufficiency,” Bell notes.

Brutal Drought in the West Is Decimating This Year’s Wheat Crop (jdargis)

The drought is so bad, in fact, that an estimated seven out of ten farmers in these areas have chosen not to even attempt to bring their wheat to full harvest, instead baling it early to create hay. That strategy drastically reduces the amount of wheat to be made into flour on the open market, and also reduces the income of those farmers.

That hay will be used to feed animals that are unable to graze in the parched pastures of the west, but at a much lower price; hay, even with a spike to about $100 per ton thanks to the drought, fetches typically about 60 percent the price of wheat.

Gold & Silver

Click to read the PM Daily Market Commentary: 7/26/17

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."

11 Comments

saxplayer00o1's picture
saxplayer00o1
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Junk Bond Boom Fuels Rise of Chinese Banks to Top Rankings

Alberta's net debt to quadruple to $44B, Conference Board of ...

CBC.ca-19 hours ago
The board forecasts that the net debt — the difference between total assets and liabilities — will balloon from $9.5 billion to $44 billion, with debt servicing ...

Junk Bond Boom Fuels Rise of Chinese Banks to Top Rankings

Bloomberg-17 hours ago
The Hong Kong-based head of debt capital markets at Haitong International ... High-yield issuers from China sold $8.5 billion of dollar bonds in the second ...

 

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Uncletommy
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Cause and effect?

Quite coincidentally, I just received a post from a Christian based blog site that may have captured the basis of the headlines in today's Daily Digest. It appears to me that it might be a world wide epidemic. The author paraphrased the prophet Isaiah from the 8th century B.C. referencing John Calvin's commentary. Food for thought?

“YOU ARE FORGETTING! YOUR PROSPERITY IS MAKING YOU STUPID!” 

   “Men are undoubtedly more in danger from prosperity than from adversity. For when matters go smoothly, they flatter themselves and are intoxicated by their success.” John Calvin Commentary on Isaiah 32:11       

Chris and Adam: you're in good company!  

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cmartenson
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Minneapolis Police Dept Goes Off The Rails

I'm really hard-pressed to put this information in a good light, but apparently the MPD decided it would be a swell idea to get a search warrant for Ms Damond's house and look for a wide variety of things.

The warrants are a full-on fishing expedition seeking everything from firearms, clothing, knives, writings that may shed light on the evening (like a pre-written manifesto or suicide by cop note?), cell phones, hair, fluids and other biological samples, and controlled substances among other things in a very long and wide-ranging list of items being searched for.

Basically anything they could use to smear the victim is how that appears to me.

I cannot imagine what probable cause was given for this warrant.  Based on the facts as I understand them, none exists.

Optically this looks exactly like a PD department seeking to cover its ass by fishing for any dirt on an innocent victim which it could use to smear said victim.  I believe that this warrant was issued fraudulently and not in accordance with the constitution, but I'll let our resident law enforcement experts weigh in on that.

However, optically, it just looks awful for the MPD.  Bad move.  "Hey we're just going to murder your fiancee and then rummage disrespectfully through all of her and your stuff looking for something, anything, that we can use against her memory.  you don't mind in your time of grief, do you?"

 

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Edwardelinski
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Department of Energy Michael Lewis:

Want to lose your mind?Read Michael Lewis in Septembers edition of Vanity Fair...

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sand_puppy
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Sabrowsky and the BLUE Israeli faction

Alan Sabrowsky posts this on his facebook page.  As you may recall, Sabrowsky is a US Marine, Ph.D. in world history from the University of Michigan, and a professor of military science at the US Army War College.

He is most famous for saying that the Mossad did 9/11 and regards it a classic Mossad type of operation. He points out how the 9/11 attacks dovetail with the long term military vision of "Israel's security needs."  This is a brutal version of "security" which mostly means pre-emptively destroying its Arab neighbors.

The reason I am posting this is so that we can have a realistic understanding of the depth of the race-based bigotry and violence in this group.  As always, I will point out that none of my Jewish family and friends would do this.  In fact, most American Jewish people are ORANGE, GREEN, YELLOW and higher and would absolutely NEVER do this kind of thing.  

But many of the Israeli Jews are BLUE.  And they would.  They seem to have a hold of government policy at this point in time.  Sabrowsky writes:

"[This video] depicts Jewish settlers at a wedding ceremony dancing with guns and stabbing a picture of a Palestinian infant burned to death in a settler attack on her family (her parents also died) - the source is Ha'aretz (an Israeli publication). I could not find one with English sub-titles, if anyone does please send it to me via FB Messenger and I will replace this one.

"By their deeds shall you know them...." Imagine what type of people (?) would celebrate a wedding by cheering the murder of an 18 month old girl..."

 

Several of my friends belong to Friends of Palestine groups and regularly post photographs of the destruction of Palestine homes in the West Bank by Jewish "settlers."  Destruction of solar farms given to Palestinian villages by the Dutch, removal of water storage tanks that make villages viable, and beatings and shootings of Palestinians by mobs.

The message that I am trying to convey is that we must realistically understand where this group comes from.  Israel is not run by the liberal GREEN Meme Jewish community that we have become familiar with in the USA.  Many hold deep beliefs of racial superiority (Kindle Location, 330), and entitlement beliefs.  80% of the orthodox Jews believe that "God gave Israel to the Jews."  (It is about as high in American evangelical Christians--which is the US BLUE Meme group with some shared scripture.)  They also have a Biblical heritage of God commanding them to drive out and slaughter non-Jews, their children and their animals.

This group is the Israeli version of the American KKK.

So when AIPAC sets US policy and the Neocon's move the world into wars with Israel's enemies, we need to be afraid.  Very afraid.  They pursue a hellish vision.

 

 

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Barnbuilder
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They are protecting their failed policies
cmartenson wrote:

I'm really hard-pressed to put this information in a good light, but apparently the MPD decided it would be a swell idea to get a search warrant for Ms Damond's house and look for a wide variety of things.

The warrants are a full-on fishing expedition seeking everything from firearms, clothing, knives, writings that may shed light on the evening (like a pre-written manifesto or suicide by cop note?), cell phones, hair, fluids and other biological samples, and controlled substances among other things in a very long and wide-ranging list of items being searched for.

Basically anything they could use to smear the victim is how that appears to me.

I cannot imagine what probable cause was given for this warrant.  Based on the facts as I understand them, none exists.

Optically this looks exactly like a PD department seeking to cover its ass by fishing for any dirt on an innocent victim which it could use to smear said victim.  I believe that this warrant was issued fraudulently and not in accordance with the constitution, but I'll let our resident law enforcement experts weigh in on that.

However, optically, it just looks awful for the MPD.  Bad move.  "Hey we're just going to murder your fiancee and then rummage disrespectfully through all of her and your stuff looking for something, anything, that we can use against her memory.  you don't mind in your time of grief, do you?"

 

I was not there. I did not see what happened. I therefore cannot judge without all the facts. I believe I know enough from what I have read, if true that the MPD should never have had that officer on the street.  If a partner of mine had his gun out in his lap pointed in my general direction as the driver I would never ride with him again.  Any officer  with multiple complaints against him alleging hotheadedness especially when new to the job should have been on a very short lease or cashiered.  Standards for LEO jobs used to be extremely high for a reason. Now, multiculturalism is more important than standards of competence and judgement. We as a people reap what we sow even if we disagree. Funny thing is, there is no Ferguson response to this.

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sand_puppy
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Ron Paul: House and Senate Pass Russian Sanctions Bill

 

Breaking: Senate Passes Russia, Iran, North Korea Sanctions Bill, 98-2!

 

 

 

Minutes ago the US Senate passed HR 3364, the Countering America's Adversaries Through Sanctions Act by a massive 98 yeas to two nays. Opposing the bill were Sens. Bernie Sanders (I-VT) and Rand Paul (R-KY). The bill passed in the House by 419-3 on Tuesday, with Reps Massie (R-KY), Amash (R-MI), and Duncan (R-TN) opposing. 



The new sanctions bill ties President Trump's hands on foreign policy, as he will be forced to ask Congress for permission to ease the measures.



Speaking in favor of the legislation, Sen. Bob Menendez (R-NJ) cited the need to send Russia a message that it cannot meddle in US elections, that it cannot annex Crimea, that it cannot invade Ukraine, and that it cannot indiscriminately kill women and children in Syria. 

Those of us living in the actual real world recognize that the first count remains unproven and the remaining counts are simply fatuous, fact-free bluster by Washington's uninformed, group-thinking, foreign policy elites. Fueled by the millions coming in to the military-industrial complex.



The House and Senate passed "Countering America's Adversaries Through Sanctions Act" now goes to President Trump's desk, where he faces a damned if he does and damned if he doesn't scenario. A veto would certainly be over-ridden, handing the president a bitter bi-partisan blow that would likely end whatever aspirations he may retain to keep his campaign promises to get along better with Russia. Similarly, signing the bill signs a death warrant for any foreign policy different than the one served up by the NEOCONS for decades: create enemies; push war propaganda; collect massive checks from military industrial complex; demonize any American refusing to go along; repeat, adding bombs as necessary.



Checkmate, President Trump.

Doug's picture
Doug
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Thanks Ed
Edwardelinski wrote:

Want to lose your mind?Read Michael Lewis in Septembers edition of Vanity Fair...

http://www.vanityfair.com/news/2017/07/department-of-energy-risks-michae...

That is one of the most terrifying articles I've read in a long time.  It almost makes me wish for a deep state if that state could again run the DOE competently.  The current administration, headed by a narcissistic idiot who appointed a more garden variety idiot as head of DOE, is leading us down a road of destruction.  Unfortunately, long before Trump was elected it was obvious to anyone who actually paid attention.

For quite a while I used the metaphor of the movie Idiocracy to think of Trump's America.  I now realize the consequences portrayed in the movie are far too benign to grasp what is actually happening to us now.

Doug's picture
Doug
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Conclusion
Quote:

As I drove out of Hanford the Trump administration unveiled its budget for the Department of Energy. ARPA-E had since won the praise of business leaders from Bill Gates to Lee Scott, the former C.E.O. of Walmart, to Fred Smith, the Republican founder of FedEx, who has said that “pound for pound, dollar for dollar, activity for activity, it’s hard to find a more effective thing government has done than ARPA-E.” Trump’s budget eliminates ARPA-E altogether. It also eliminates the spectacularly successful $70 billion loan program. It cuts funding to the national labs in a way that implies the laying off of 6,000 of their people. It eliminates all research on climate change. It halves the funding for work to secure the electrical grid from attack or natural disaster. “All the risks are science-based,” said John MacWilliams when he saw the budget. “You can’t gut the science. If you do, you are hurting the country. If you gut the core competency of the D.O.E., you gut the country.”

But you can. Indeed, if you are seeking to preserve a certain worldview, it actually helps to gut science. Trump’s budget, like the social forces behind it, is powered by a perverse desire—to remain ignorant. Trump didn’t invent this desire. He is just its ultimate expression.

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Inexplicable in Minneapolis

1. There don't appear to me to be any grounds for a search warrant of Damond's home, based on the facts that have come out so far.  The document you reference has to be only part of the application for the search warrant.  The important part is the legal rationale which is a total mystery to me. The shooter, Officer Noor, hasn't said anything so if there were any Constitutional grounds for a search warrant it most likely came from Officer Harrity who was driving the patrol car and survived the incident (a bullet from his partner whizzed right by his head).  I can't think of anything he could possibly, reasonably have said that would have justified that search warrant.  From the Twilight Zone, what if someone revealed Officer Noor was having an affair with Ms. Damond's fiance and wanted to eliminate her as competition? He could've found a more discreet way to do it!  Incredible, but I suppose possible.  Short of something like that, this looks exactly as you worded it: 

Optically this looks exactly like a PD department seeking to cover its ass by fishing for any dirt on an innocent victim which it could use to smear said victim.  I believe that this warrant was issued fraudulently and not in accordance with the constitution

Even if the search warrant turns up illegal drugs, a stolen firearm, an ISIS flag and the skeletal remains of the Lindbergh baby, none of that would have any bearing on what happened in the alley.  

2.  Officer Harrity states he was startled by a loud sound which was possibly Ms. Damond slapping the police car.  Worst case: Ms. Damond slapped the car to taunt the officers or simply get their attention as they creeped past her in the dark alley looking for a rape in progress.  That's still no grounds to shoot anybody and not even grounds to draw one's duty weapon from it's holster.  I've had people slap my patrol car to get my attention, hit my car to taunt me, throw objects at my car as I sped by to an emergency, kick out a window from the back seat while handcuffed, and I've even had my car rained on by celebretory bird shot on New Year's Eve. Never once did I fire a shot or even draw my weapon.  Officer Harrity's attorney implied the officers would be justified to fear an ambush, and if he was my attorney I'd ask him to shut up with stupid stuff like that.  Being ambushed on duty is a constant threat for police officers which they should keep in the back of their minds at all times.  However, that theoretical ambush possibility doesn't justify the use of deadly force until the officer can identify a deadly threat who has the means, motive and opportunity to carry out the deadly intention.  That possibility by itself would never justify any level of use of force, but especially not deadly force.  Somebody would have to present an actual deadly threat to deserve to be shot (not just the theoretical possibility of a deadly ambush).  I haven't heard anything indicating Ms. Damond had a weapon, made verbal threats, used verbally threatening body language, or in any other way was threatening.  If she had, would Officer Harrity have been talking to her while she stood at his driver's window?  Wouldn't Harrity also have drawn his weapon and fired at Ms. Damond, or simply slammed on the gas pedal to escape? It seems Harrity wasn't threatened in the least.

3. The lack of dash cam and body camera footage is completely to be expected.

The complete lack of body camera or squad car video is ultra-damning here too.  I'm gonna go out on a limb and say the partner needs to be investigated very closely at least as an accessory after the fact for deleting video evidence?

My department doesn't have dash cams and we only have a pilot project with body cams in one district, so I don't have personal knowledge of this subject, just training material and the experience of others.  Dash cams come on when the lights and sirens come on and most can also be manually started by the officer.  The assignment most likely did not come out as a rape in progress but something like investigate the suspicious noise, because the officers did not activate their lights and sirens to get to the job (which would've started the dash cam).  This also explains why the response time was so long.  A low priority job like investigate the noise would prohibit the officers from using their lights and sirens and breaking any traffic laws to get there faster.  Besides, dash cams face forward and all the action would've happened behind the camera (though the audio portion would've been very valuable).  Body cams, by policy, are activated when officers get out of their car to meet a citizen or handle an assignment, but they never got out of their car until after all the excitement happened.  The new police chief just changed that to say body cams from now on will go on as soon as an assignment is received.  That ought to have the unintended consequence of limiting the amount of time body cam footage can be stored from 30 days to 2 weeks.  There is no way designed into the hardware officers can delete footage, unless they are computer whizzes and have figured out a way to overcome the equipment's safeguards designed to prevent that very thing.  Highly unlikely, especially while performing CPR as a crowd gathers.

4. Officers are encouraged to call Code 4 as soon as reasonably possible to reassure listening supervisors and other officers (some of whom may be racing to the scene themselves) that upon arrival a crime does not appear to be in progress, pending a closer look.  

Pure speculation of course, but that 2 minute lag between "code 4" and the shooting smells really bad to me.

A perfectly likely unfolding of events could've gone like this: Right before pulling into the alley the officers turned off their headlights, rolled down their windows and listened for the kind of sounds the 911 caller described and looked for a suspicious person or a victim, while continuing down the length of the alley. Call Code 4, and turn around to make another pass down the alley.  Having missed her the first time they passed without lights, Ms. Damond slaps the trunk of the police car as they pass her again.  Harrity stops the car and Ms. Damond approaches his driver's window to tell him what she heard and possibly complain about the slow response time. BANG!  Two minutes between calling Code 4 and asking for an ambulance would be just about right.  I have no idea if that's what happened, but it very easily could have been.  This will be the critical period the DA will investigate though.

5. Officer Noor was plainly grossly unfit to be a police officer and I'm sticking with my prediction that he will be charged and convicted of either manslaughter or negligent homicide.  And his partner Officer Harrity will seal his fate, willingly or unwillingly.  Noor can't say he didn't shoot her as the ballistics will prove he did.  All he can do is claim he was justified because there was a threat to his life or his partner's life.  I've already got the prosecutor's questions lined up in my head to put that defense to bed.

Q: Officer Harrity, did you believe your life was threatened by Ms. Damond, or by anybody else that night?

A: No.

Q: Did you fire any shots at Ms. Damond or anybody else?

Q: No.

Q: Did you even draw your pistol?

A: No.

Q: In your ___ years in the police department, have you ever drawn your pistol while still seated in your patrol car? 

A: No.

Q: In all your training, were you ever trained on how to draw your firearm while seated in your patrol car?

A: No.

Q: Have you ever heard of another officer (in Minneapolis or anywhere in the US) who drew his/her weapon and fired at a deadly threat while still seated in his/her patrol car?

A: (Either he answers "no" or he answers "yes" and describes one of those very, very rare situations in which an officer takes gunfire while in the car and then returns fire while still in the car or maybe even driving.)  Here's an example of this very rare event (though it happens in Hollywood productions all the time): https://www.policeone.com/officer-shootings/articles/387866006-Fla-officer-survives-gunshot-to-face-kills-bank-robbery-suspect/

Q: (If he answers yes and describes a justified shooting from inside the police car, then ask:) Did Ms. Damond present the kind of threat that would make you shoot at her that fateful night while seated in the driver's seat of your patrol car?

A: No.

Q: Did she even act in such a way that you drew your pistol just in case?

A: No.

Every police officer called to the stand would get these same questions, including national firearms training experts and Minneapolis police academy firearms instructors.

If I was Officer Noor, I'd take any deal they offer me and be thrilled with 5-7 years in state prison.

6. Maybe when we have enough of these incidents, we'll forego the political correctness, raise hiring and retention standards to where they should be, and take whoever can meet them instead of conducting cultural/political experiments at the public's expense.

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Edwardelinski
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Nothing Like

Replacing a Nuclear Physicist and other Nobel prize winners with a Dancing With The Stars contestant.

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