Daily Digest

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Daily Digest 10/14 - Prepare For A Chinese Maxi-Devaluation, CA's Destructive Wildfires

Saturday, October 14, 2017, 11:03 AM

Economy

Prepare for a Chinese Maxi-devaluation (thc0655)

Trump had threatened to label China a currency manipulator throughout his campaign from June 2015 to Election Day on November 8, 2016. Once Trump was elected, China engaged in a policy of currency war appeasement.

China actually propped up its currency with a soft peg. The trading range was especially tight in the first half of 2017, right around 6.85.

Steep Premiums Challenge People Who Buy Health Insurance Without Subsidies (edelinski)

Exactly how big is this group? According to Mark Farrah Associates, a health care analysis firm, as of 2017, there were 17.6 million people in the individual market, 5.4 million of whom bought policies outside the health exchanges, where premium help is not available. Combine that with the percentage of people who bought insurance on the exchanges but earned too much (more than four times the federal poverty level, or about $48,000 for an individual) to get premium subsidies, and the estimate is 7.5 million, or 43 percent of the total individual market purchasers, according to insurance industry consultant Robert Laszewski.

Executive Order Will Likely Further Deplete Healthy Pool Of ACA Customers, Weaken Patient Protections (edelinski)

The executive order on the health-care system signed Thursday by President Donald Trump will likely have a split effect on the health-insurance industry, creating new challenges for many companies but opportunities for others. The impact of the order will take months to become clear, as federal agencies move the changes through the regulatory process. But actuaries and industry officials said the shift could create problems for insurers that offer plans under the Affordable Care Act, both to individuals and small businesses.

Puerto Rico Without Electricity, Wifi, ATMs Shows Importance of Cash, Gold and Silver (Boomer41)

More than three weeks since Hurricane Maria hit the island, 3.7 million American citizens are on the precipice of a humanitarian disaster. The majority of these people are desperate for food, water, electricity and shelter. They are desperate for cash that will allow them to secure these basic necessities.

The Crowdsourced Maps Guiding Puerto Rico's Recovery (tmn)

Crowdsourced mapping can help. Saldarriaga recently organized a “mapathon” at Columbia, in which volunteers examined satellite imagery of Puerto Rico and added missing buildings, roads, bridges, and other landmarks in the open-source platform OpenStreetMap. While some universities and other groups are hosting similar events, anyone with an internet connection and computer can participate.

Trump Adopts Obama Approach While Seeking to Undo a Legacy (jdargis)

Similarly, in scrapping Mr. Obama’s program to spare younger illegal immigrants from deportation on the grounds that it was unlawful for a president to create it on his own, Mr. Trump ordered a six-month phaseout and challenged Congress to use that time to pass legislation authorizing the program. And in decertifying the Iran nuclear deal, Mr. Trump pressed Congress to come up with ways to curb Tehran’s destabilizing activities before he pulls out of the agreement altogether.

Photos of California's Destructive Wildfires (jdargis)

Powerful winds drove more than a dozen wildfires across several counties in California on Monday, burning more than 100,000 acres, destroying 1,500 homes, and reportedly killing 11 people. In Sonoma County, the sheriff’s office stated that roughly 150 people have been reported missing due to the fires. The dry conditions are expected to last for at least another week, as Californians still battle one of the most destructive wildfire episodes their state has ever experienced.

How Climate Change and 'Smoke Taint' Could Kill Napa Wine (tmn)

Winemaking regions around the world, especially in Australia, have been dealing with the consequences of more active fire seasons near vineyards since at least the turn of the century—but the problems haven’t really hit California yet. The state’s frequent fires haven’t intersected with its vineyards. Until now.

Gold & Silver

Click to read the PM Daily Market Commentary: 10/12/17

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."

2 Comments

DennisC's picture
DennisC
Status: Gold Member (Offline)
Joined: Mar 19 2011
Posts: 309
Caveat Emptor

More tainted stuff for those with an interest.

http://www.greenstate.com/news/a12768495/wildfires-taint-untold-tons-of-...

America’s cannabis consumers need to be on the lookout for cheap, campfire-smelling bud this harvest season, after another record year of wildfires likely tainted untold thousands of pounds of pot with smoke and ash.

“Campfire pot”, “beef jerky”, and “hickory kush” are some of the nicknames farmers living in wildfire country give to smoke-tainted buds. Those buds are being harvested this month in the wildfire-ravaged Western U.S. and are often shipped east to unregulated black markets in New York, Atlanta and Chicago.

California is America’s number one domestic producer of cannabis — growing an estimated 13 million pounds per year. Four out of five of those pounds of pot grown in-state is shipped out of state, researchers estimate. Much of that pot is grown outdoors, and is planted in the Spring and harvested in the fall.

 

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4145
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