Daily Digest

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Daily Digest 9/25 - Goldman Turns Bullish On Oil, Cheap Oil or a Weak Dollar: Choose One

Monday, September 25, 2017, 10:43 AM


$858 Million: 'Outrageous' Management Fees Paid By Pennsylvania's Pension Fund in the Last 5 Years (Adam)

Pension officials in Pennsylvania are grappling with similar problems facing other states and cities when it comes to public retirement plans. Increases in retirees collecting pensions have outpaced annual contributions to the fund, and annual investment growth has not lived up to expectations.

ODU center researches why people don't evacuate when a hurricane strikes (edelinski)

Plenty of others have had similar experiences – or worse. A team of researchers at Old Dominion University’s Virginia Modeling, Analysis and Simulation Center in Suffolk have been studying evacuations in hopes of improving hurricane response by homeowners and governments. This involves everything from pre-storm preparation to post-storm recovery. The idea is to provide officials with data they can use to plan and craft policies to help the most vulnerable storm victims: the elderly and the poor.

Syria - U.S. CentCom Declares War On Russia (Will H.)

The accusations are plausible. Large parts of ISIS in Deir Ezzor consist of local tribal forces from eastern-Syria. U.S. special envoy Brett McGurk recently met tribal leaders who had earlier pledged allegiance to ISIS. Deals were made.

The Fed Is About to Topple This House of Cards (Tiffany D.)

Within the U.S., we fired up the printing presses and defined the era of “easy money” with ultralow interest rates.

And the price is that we’ve tallied up nearly $20 trillion in public debt. That debt is 107% of our gross domestic product (GDP).

AT&T Cellphone Tower Generator Stolen, Knocking Out Cellphone Service On St. Croix (Ed)

At the tower now is David Goodrich, commander of the extrication unit at St. Croix Rescue, who has been guarding the site since private citizens took it upon themselves to not only provide a generator, but security as well. Robert Armstrong, a member of the well-known Armstrong family on the island and owner of multiple businesses, used his bobcat to transport a generator he provided to the site, and received help from Tom Schoenbohm, a communications tower expert, to install it. Mr. Schoenbohm dried certain parts of the tower that had collected water, and turned it back on. The thieves damaged the automatic transfer switch in the process of stealing the generator, so Mr. Schoenbohm hardwired the replacement into the tower.

Merkel faces tough coalition talks as nationalists enter German parliament (jdargis)

The only upside for Merkel is that the AfD may also take some time to get itself into position. Long-standing splits inside the party emerged on Monday morning when its chairwoman Frauke Petry said she would not join the AfD’s parliamentary caucus, walking out of a news conference with fellow leaders.

Goldman Turns Bullish On European Oil Majors (Michael K.)

France’s Total and Italy’s Eni are Goldman Sachs’ top picks among the European companies, with Shell also rated “buy”. Norway’s Statoil, on the other hand, is a “sell” for Goldman—the only “sell” among the European oil majors—on the back of its exposure to European gas prices under pressure, and possible appreciation of the Norwegian currency, the krone.

You Can Only Choose One: Cheap Oil or a Weak Dollar (pinecarr)

The Federal Reserve insists that yields must remain near-zero or the economy will collapse. Americans paying 15% to 23% interest on their credit cards haven't seen any benefit from near-zero rates, nor have student-loan debtors. The real beneficiaries of low yields are financiers, banks and corporations which borrow immense sums for next to nothing. (Try finding a credit card with a 1% or 2% interest rate.)

Gold & Silver

Click to read the PM Daily Market Commentary: 9/22/17

Provided daily by the Peak Prosperity Gold & Silver Group

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