Daily Digest

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Daily Digest 10/16 - Oil Companies In Deep Trouble, Online Trolls Targeting Troops, Veterans

Monday, October 16, 2017, 8:45 AM

Economy

U.K. Fears Collapse of Brexit Talk Within Weeks (jdargis)

The assessment comes as the prime minister heads to Brussels for dinner with EU chiefs ahead of a critical summit starting Thursday, and is calling EU leaders individually in last-minute diplomatic efforts. May will spend 90 minutes talking with European Commission President Jean-Claude Juncker and the bloc’s chief negotiator Michel Barnier on Monday in an attempt to break the deadlock in the negotiations.

An anarchist takes on the drug industry — by teaching patients to make their own meds (Wendy SD)

Health professionals have strenuously warned against DIY pharmaceuticals, but Laufer sees his work as a moral crusade against the patent laws and market forces that let drug companies price vital remedies out of reach for many patients.

“To deny someone access to a lifesaving medication is murder,” he said. And “an act of theft [of intellectual property] to prevent an act of murder is morally acceptable.”

Austria’s Rightward Lurch Is Europe’s New Normal (jdargis)

Mr. Krastev sees the divisions over migration most sharply between the countries of Western Europe like Germany and those of the east, like Poland, Hungary and the Czech Republic, which view “the very cosmopolitan values on which the European Union is based as a threat.” The populist revolt is not simply against mainstream parties, he argues, but against meritocratic elites who have arguably lost touch with their roots.

Report: Online trolls targeting US troops, veterans (edelinski)

In VVA’s case, the harassment centers around a months-old imposter Facebook page set up by Bulgarian activists. Group officials said they have been alarmed by the false news stories being shared on the page — which include doctored videos of vandalized war memorials — and its rapid growth in followers.

Chinese EV Boom Could Crash Oil Prices (Michael K.)

And China could go a long way by itself in accelerating this transition. As the world’s largest auto market, China’s EV policy, which is still being formulated, could supercharge the race for EVs. The massive investments planned for EVs, combine with restrictions on dirtier forms of transportation, all done within a top-down economy, could spark rapid change. “They can order charging stations set up all over China, dictate driving and licence plate restrictions in major cities,” a western auto executive told the FT, drawing a clear contrast with what can be done in western economies.

WORLD’S LARGEST OIL COMPANIES: Deep Trouble As Profits Vaporize While Debts Skyrocket (yogmonster)

Unfortunately, energy analysts, who are clueless to the amount of destruction taking place in the U.S. and global oil industry by the falling EROI, continue to mislead a public that is totally unprepared for what is coming. To provide a more realistic view of the disintegrating energy industry, I will provide data from seven of the largest oil companies in the world.

Without their salmon, the Yurok search for meaning (jdargis)

The cousins are alone on the water today, which is unusual during commercial fishing season. In a normal year, Nick says, “practically this whole area is nets, all the way up to the bridge. You just see corks on the water, the river’s so packed with nets.”

Without people on the river fishing, the salmon have a chance to travel up river to spawn. “At least that’s my hope,” Chavez says.

Ophelia became a major hurricane where no storm had before (jdargis)

Ophelia is just the latest in a series of major hurricanes that have brought destruction or set records this year. Hurricane Harvey brought unprecedented flooding to the upper Texas coast, Hurricane Irma ravaged the Caribbean Islands and parts of Florida, and Hurricane Maria brought devesating rains and winds to Puerto Rico, where a majority of the island remains without power nearly a month after landfall.

Gold & Silver

Click to read the PM Daily Market Commentary: 10/13/17

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

pinecarr's picture
pinecarr
Status: Diamond Member (Offline)
Joined: Apr 13 2008
Posts: 2215
"I'm Going To Work Until I Die"

From John Mauldin, via ZH: http://www.zerohedge.com/news/2017-10-16/im-going-work-until-i-die-look-how-unprepared-boomers-are-retirement

Wall Street endlessly gushes about retirement. Its TV commercials show how wonderful life will be in our golden years—when we are old, yet still healthy and wealthy enough to go hang-gliding every day.

Meanwhile, out here in the real world, most working-age Americans don’t want to talk or even think about retirement. Often this is because they know they aren't saving enough and probably will have to work until they drop dead.

This is the elephant in the room. 10,000 US Baby Boomers turn 65 every day. For most, life at that milestone won’t look much like the TV commercials.

kaimu's picture
kaimu
Status: Silver Member (Offline)
Joined: Sep 20 2013
Posts: 158
LIFE AT 10K

Aloha! Not much of anything has been as "promised" ...

I am a babyboomer and none of my friends ever had a single provider household like our parents did but the killer is that none of us expected a savings account to yield near 0% after taxes when we retired. 

You can put the cause of these financial frauds squarely on the repeated intervention of government against the middle class. This massive misallocation of capital has been ongoing for decades and is apparent in nearly every sector government involves itself, especially in pharma and healthcare, two sectors that are scalping what little babyboomers have left on their way to the "other side"!

I have always felt throughout my life that I was constantly running a financial gauntlet, no matter if I was poor or rich. You are intervened upon even in death. Long past your final burial if you have anything of value your heirs end up fighting with the IRS over inheritance tax and the final distribution of your pre-taxed assets the gauntlet missed while you still had a pulse!

The intrusion by government into every aspect of business and life is truly astounding. If our Founding Fathers were still alive there would be mass executions of those now in power once they saw this book!

THE FEDERAL REGISTER

Total pages as of 2016 95,894. Up nearly 20% from prior year at 80,260 pages.

Total regulations as of 2016 195,189

More pages of the Federal Register were added by Obama than any US President in history. George Bush came in fifth on the disgraceful list.

Is it any wonder that unlimited debt creation and unending career politics has created infinite rules and regulations by which to strangle each citizen and every business. Less government is not represented in Washington DC ... more and more is the order of the day and it matter not which party is in power.

If there is a way to see this chart above it would be to look at this from the aspect of government debt. This could be a chart showing the never ending increase in the US Public Debt.

This is the gauntlet we run! It is real ...

 

 

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