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Daily Digest 9/9 - OPEC Fails To Cut Oil Exports, Irma’s Approach Shifts to Gulf Coast

Saturday, September 9, 2017, 11:46 AM

Economy

House Passes Deal on Storm Aid, Debt Limit, Government Funding (jasonw)

WASHINGTON—The House on Friday approved legislation providing $15.25 billion for victims of Hurricanes Harvey and Irma and pushing two fiscal deadlines into December, capping a dizzying week of deal-cutting and rapid-fire voting on Capitol Hill.

Equifax’s Instructions Are Confusing. Here’s What to Do Now. (jasonw)

It’s time for all of us to play defense, because Equifax clearly did not.

In the wake of the epic breach of as many as 143 million of our Social Security numbers, names and addresses from the company’s credit files, the company put up a website that attempted to make sense of things for consumers.

Irma’s Approach Shifts to Gulf Coast, Keeps Florida on Edge (jasonw

Regardless of its precise path, the storm is forecast to bring life-threatening “wind impacts” to much of the state of 20.6 million people. Maximum sustained winds dipped to 125 miles per hour after the storm hit Cuba, and it is now a Category 3 hurricane, according to the National Hurricane Center. But it is expected to regain strength before pummeling the Florida Keys starting early Sunday morning, and then move along the Southwest Florida coast Sunday afternoon.

Thoughts on Poland (jamesw)

The political elites of Western Europe, including the Brussels bureaucracy, think that it is only sensible that every country in Europe should share the burden in hosting refugees who have arrived in Europe since 2015. The fact that clear majorities in Poland, the Czech Republic and Hungary are opposed to such a thing matters little. Since 2015, relations between Poland and the EU have sharply deteriorated.

Energy

OPEC Fails To Cut Oil Exports Below 2016 Levels (MK)

OPEC exported 25.19 million bpd of crude oil last month, the lowest since April this year, Thomson Reuters Oil Research said, but the eight-month average for the year to date was 25.05 million barrels, exceeding the average for the corresponding period of 2016, which stood at 24.85 million bpd.

China Declares Support For Punitive Action Against North Korea (MK)

Chinese Foreign Minister Wang Yi announced on Thursday Beijing’s support for punitive action against North Korea for its recent ballistic missile tests over Japan.

The United States has proposed an oil embargo against North Korea enforced by the United Nations after Pyongyang authorized nuclear tests that violated several UN resolutions.

Environment

Major Earthquake Strikes Off Southern Coast Of Mexico, Killing Dozens (jasonw)

At least 60 people died when the most powerful earthquake to hit Mexico in over eight decades tore through buildings and forced mass evacuations in the poor southern states of Oaxaca and Chiapas, triggering alerts as far away as Southeast Asia.

Who’s Backing Scott Pruitt to Head the EPA? The Koch Brothers.  (edelinski)

The two dozen nonprofit groups and Senate committee members who spoke up to defend Scott Pruitt, President Donald Trump’s nominee for Environmental Protection Agency (EPA) administrator, have at least two things in common.

Like Pruitt, they’re climate science deniers. And, like Pruitt, most of them are funded by Charles and David Koch, the billionaire brothers who own the coal, oil and gas conglomerate Koch Industries.

Gold & Silver

Click to read the PM Daily Market Commentary: 9/8/17

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."

4 Comments

sand_puppy's picture
sand_puppy
Status: Diamond Member (Offline)
Joined: Apr 13 2011
Posts: 1662
Chinese Action Flicks: Wolf Warriors

Catherine Austin Fitts points out that Wolf Warriors 2 is currently breaking all records in Chinese theaters.  The first movie in the franchise is available on amazon at this time.

Here is the trailer:

I really enjoyed it.  As an action flick it was very good.  Lots of excellent martial arts scenes and clever tactics.  Some funny dialog and plot twists, a charismatic, handsome and funny star.

And it was remarkable in several ways.

  • China as an ultra-modern military force.
  • A call to patriotism, "fighting for China."
  • Incorporation of weather warfare into the battle theater, a technology that I suspect is more advanced than we know.
  • The noble and patriotic Chinese team is pit against heartless American mercenaries who fight only "for money."

 

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4010
Mortgage fraud: $500b of 'liar loans' in Australia, warns invest

Mortgage fraud: $500b of 'liar loans' in Australia, warns investment ...

ABC Online-10 hours ago
With just under $1.7 trillion of mortgage debt outstanding, that means home loans based on inaccurate or fraudulent information account for 29 per cent of the ...

Marshall County may tax levy for pension costs

Peoria Journal Star-13 hours ago
Marshall County may tax levy for pension costs .... and about $250,000 more to apply to the deficit that has grown steadily since the first retirements in 2004.

 

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4010
Hurricanes Harvey, Irma could cost US economy $290 billion ...

Hurricanes Harvey, Irma could cost US economy $290 billion ...

ABC News-5 hours ago
Combined damage from Hurricanes Harvey and Irma could cost the U.S. economy as much as $290 billion, according to a new forecast. Hurricane Harvey ...
fated's picture
fated
Status: Bronze Member (Offline)
Joined: Feb 16 2014
Posts: 46
Mortgage fraud in Australia

well someone at the bank is not doing their job properly now are they..... I guess things can be 'overlooked' when you have monthly sales targets to meet, and perhaps there's a bonus attached to meeting KPI's - sarc.

The job of the loans officer at the bank is to assess the loan and verify the accuarcy of the information on the loan application, then make a decision if it is prudent to lend money to said applicant.

I had to laugh to myself when I read ANZ bank is the worst offender.

I know of three situations where ANZ have proven to friends and family of mine they are part of the 'system' and staff toe the line to the money making rules, or are just plain slack in their service:

1) a couple who each fully owned a home of their own, previously financed by loans from families, both homes having recently been put under contract of sale, needed a 3 week 'bridging' loan from a lender while awaiting settlement on these sales so they could put money across for a new joint purchase. ANZ said no to a simple and low fee bridging loan, because the couple had 'no loans history'. But owned 2 homes, 2 cars, motorbike, trailer, boat, double income, credit card paid off each month, personal loan paid out 12 months prior (history anyone?), and combined 35 years of banking history. But hey - bank can 'offer' you a full fee, full mortgaged to bank loan, slathered with fees and charges - that said couple paid out three weeks later at much expense.

But the bank will happily finance up to $50K for holidays and other frivolous spending with no collateral, as they advertise on local TV.....

2) a couple who approached ANZ for pre-finance approval up to an amount of $350k. These people are young (easy prey) - but had experience with home loans/purchasing in other states. They had done the math, and had a plan as they did for each purchase. They knew the amount they were happy to borrow and that's all they needed. But ANZ thought differently. And were proud to explain to them they could borrow up to $750K. They said no thanks. Bank said yes-sure. Couple said no thanks, and paperwork came back with $750K on it. Couple stood their ground and got bank to amend it before signing.

3) Person with a disused old account linked to pay pal. Accidentally debited with a paypal purchase made by their partner who forgot to change the paypal tick from debit to credit card. Overdrawn fee of $6 daily charged by the bank until it was noticed. No refund of fees. Oops, sorry, your fault. Same couple received proceeds of a sale and wanted to park it in a well paying cash account. Went into bank to haggle over interest rates and were told will have an answer on the best rate in 7 days. No contact made back to them by the bank. Couple visited bank again. Different customer 'service' officer. Our apologies - will let you know in 2 days. No further contact from bank. So these people moved their money.

I imagine all the banks are the same. The rules work in their favor, or the rules are overlooked and then still work in their favor, until they get caught out.

I have an aquaintence who works in a local bank. The only problem with all the creative accounting banks do is that when they get caught out it is the little people like her who are laid off and out of work....

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