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Daily Digest 9/7 - Markets ‘Have Been Going Up for Too Long,’ Thousands Of Cattle At Risk After Harvey

Thursday, September 7, 2017, 11:10 AM

Economy

Goldman’s Blankfein on Markets: ‘Things Have Been Going Up for Too Long’ (Adam)

Chairman Lloyd Blankfein on Wednesday sounded a warning about the markets, saying that some of what he sees “unnerves” him. Mr. Blankfein said the current market environment “doesn’t feel like tulip-bulb-mania,” a reference to the famous speculative bubble in the Netherlands in 1637, but was nonetheless concerning.

Opioid Use Explains 20% of Drop in American Men From Labor Force (jdargis)

Economists have begun to pay more attention to the spread of prescription painkillers and their link to the historically low portion of prime-age people working. The unemployed are more likely to misuse painkillers, according to test Substance Abuse and Mental Health Administration data, and some end up committing crimes stemming from their addiction that dim their employment outlooks.

Microsoft President To Trump: To Deport A DREAMer, You'll Have To Go Through Us (jdargis)

This is the second time in a week that Smith has spoken out. Last Thursday, Smith and Microsoft CEO Satya Nadella both issued statements calling on the administration to preserve DACA. Nadella, a first-generation immigrant from India, struck a personal note: "I am a product of two uniquely American attributes: the ingenuity of American technology reaching me where I was growing up, fueling my dreams, and the enlightened immigration policy that allowed me to pursue my dreams."

Why Oil Prices Can’t Bounce Very High; Expect Deflation Instead (Grover)

Supply and demand for oil, and for many other products, are interlinked. If there is too little oil, the theory is that oil prices should rise, to encourage more production. But if there is too little oil, some would-be workers will be without jobs. For example, truck drivers may be without jobs if there is no fuel for the vehicles they drive. Furthermore, some goods will not be delivered to their desired locations, leading to a loss of even more jobs (both at the manufacturing end of the goods, and at the sales end).

How Vulnerable Are Oil Markets To Extreme Weather? (Michael K.)

The impact of Harvey has had some market watchers ponder the vulnerabilities of the U.S. energy infrastructure, the bulk of which is located in the Gulf region. And a second monster storm, Hurricane Irma, currently barreling towards Florida, has raised questions regarding the long-term security of the national oil and gas industry. Irma could have a major impact on demand as it slams into the U.S. East Coast, further depressing the price as consumption is curtailed.

Hundreds of Thousands of Cattle are At Risk After Hurricane Harvey (jdargis)

Efforts to get cattle to safer, higher ground are hampered by the fact that much of this pastureland is covered in feet of standing water and is simply not accessible. The New York Times has a great story about Ryan Ashcraft, a 22-year-old helicopter pilot who’s doing his best to urge wandering, at-risk cattle to safer spots away from the flooded rivers and creeks of southeastern Texas. He flies close to the cattle, trying to herd them away from danger with the loud noise of his helicopter blades, and sometimes relies on a gun filled with rat-shot—small pellets that annoy but don’t hurt the thick-skinned animals—to move them.

Two South Florida nuclear power plants lie in Irma’s path. Are they ready? (Adam)

In anticipation of powerful Hurricane Irma, which projections on Wednesday showed headed straight for South Florida, Florida Power & Light’s two nuclear plants were finalizing staffing plans and cleaning up the grounds. But neither Turkey Point nor the St. Lucie plant farther up the coast had made the call yet to shutting down the plants.

The unprecedented drought that's crippling Montana and North Dakota (tmn)

While much of the country’s attention in recent weeks has been on the hurricanes striking southern Texas and the Caribbean, a so-called “flash drought”, an unpredictable, sudden event brought on by sustained high temperatures and little rain has seized a swathe of the country and left farmers with little remedy. Across Montana’s northern border and east into North Dakota, farms are turning out less wheat than last year, much of it poorer quality than normal.

Gold & Silver

Click to read the PM Daily Market Commentary: 9/6/17

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."

5 Comments

pat the rat's picture
pat the rat
Status: Bronze Member (Offline)
Joined: Nov 1 2011
Posts: 99
dreamers

Sometimes the movies get it right, dreamers  kid have been here for,15 16 17 years the U.S.A.is there home too. Three years military service and thy have citizenship.  

sand_puppy's picture
sand_puppy
Status: Diamond Member (Offline)
Joined: Apr 13 2011
Posts: 1584
U.S. Virgin Islands Authorizes Nat Guard to Seize Citizens Guns

Reported a number of times, Armstrong again notes the use of crisis (hurricane) to increase centralized control.

The U.S. Virgin Islands Governor Kenneth Mapp  of the Virgin Islands has just issued an order allowing the National Guard and the local government to seize any privately owned gunsammunition and private property necessary to protect the island due to Hurricane Irma. Of course, there is no definition of what may constitute property that is necessary to “protect” the island.

When an oligarchy surreptitiously controls the machinery of state, it can enact laws making its tyranny legal.  The enforcement arms of "the state" can then be called upon to enforce that tyranny of the oligarchy in the name of "public safety."

 

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 3966
Kentucky issues dire warning on pensions to local governments

Gov. Rauner Will Borrow $6 Billion to Pay off Illinois' Debt

Chicago Tonight | WTTW-16 hours ago
Illinois Gov. Bruce Rauner announced Thursday he will issue $6 billion in bonds to help pay off the state's staggering $15.1 billion backlog of unpaid bills.

FEMA may run out of funds on Friday: senators

Reuters-18 hours ago
It is nearly $25 billion in debt and members of both parties want to reform it. ... $1 billion on hand as of Tuesday, less than half the $2.1 billion it had last week.

'No more pretending.' Kentucky issues dire warning on pensions to ...

Lexington Herald Leader-20 hours ago
Based on the new assumptions, the unfunded pension and insurance liabilities of CERS — which covers 229,205 people — rose from $7.4 billion to $9.5 billion.

 

KugsCheese's picture
KugsCheese
Status: Diamond Member (Offline)
Joined: Jan 2 2010
Posts: 1400
Re: Gov. Rauner Will Borrow $6 Billion to Pay off Illinois' Debt

Wouldn't touch those with a 10 ft pole: 

thc0655's picture
thc0655
Status: Diamond Member (Online)
Joined: Apr 27 2010
Posts: 1415
Inept Virgin Islands governor?

http://www.breitbart.com/big-government/2017/09/06/u-s-virgin-islands-gov-order-seize-guns-not-mean-seize-guns/

During a September 6 interview by Fox News’s Tucker Carlson, U.S. Virgin Islands Gov. Kenneth Mapp suggested his order directing The Adjutant General of the Virgin Islands National Guard to “seize arms” does not mean “seize arms.”

Mapp said this after signing an order that activated the National Guard and directed The Adjutant General to “seize arms” if necessary.

The Times-Picayune reported that Mapp called the National Guard to active duty ahead of Hurricane Irma for the purposes of “maintaining and restoring public order.” They quoted directly from the order, which said, “The Adjutant General is authorized and directed to seize arms, ammunition, explosives, incendiary material and any other property that may be required by the military forces for the performance of this emergency mission.”

Tucker Carlson asked Mapp about directing to The Adjutant General to “seize arms” and Mapp said, “I did not order or authorize The Adjutant General of the Virgin Islands National Guard to seize any weapons from any citizens, and I do not have the power by Virgins Islands law or by the Constitution of the United States to seize weapons from citizens via the military.”

Mapp then said the order is “a standing order that most Adjutant Generals receive.” He said that, when the order says The Adjutant General may “seize arms,” it means: “if they did not have sufficient weaponry, they would go to any place, like a store, [where] they could buy that stuff. Meaning that she has the authorization to spend government resources and acquire it. It is no different than the same example as when the government seizes property, we do not seize property without due compensation to the property owner.”

Carlson read from the order again and reiterated that it says The Adjutant General “is authorized and directed to seize arms.” Mapp responded by reiterating that he has no authority to “seize arms.” Therefore, he stressed that the order directing The Adjutant General to “seize arms” did not mean what the common reading would communicate.

Mark Steyn was the next guest on Tucker Carlson’s show and commented on Mapp’s statements, saying, “It was as fantastically obfuscatory interview … and by the way, if I was a resident of the U.S. Virgin Islands, I would not be altogether reassured by that performance.”

After law enforcement in and around New Orleans after Hurricane Katrina struck confiscated firearms on the authority of the Mayor of New Orleans, I would've thought everybody learned a few lessons from that unConstitutional debacle.  Many jurisdictions passed laws specifically barring that kind of abomination again.  And many gun owners and pro-gun organizations resolved not to submit to that kind of thing again.  Maybe the governor of the Virgin Islands didn't get the memo, or maybe he's simply incompetent and accidentally revealed where his true loyalties lie.

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