Daily Digest

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Daily Digest 11/28 - OPEC's Impossible Task, The Dumbest Dumb Money

Tuesday, November 28, 2017, 11:26 AM

Economy

The Dumbest Dumb Money Finally Gets Suckered In (thc0655)

Corporate share repurchases have turned out to be a great mechanism for converting Federal Reserve easing into higher consumer spending. Just allow public companies to borrow really cheaply and one of the things they do with the resulting found money is repurchase their stock. This pushes up equity prices, making investors feel richer and more willing to splurge on the kinds of frivolous stuff (new cars, big houses, extravagant vacations) that produce rising GDP numbers.

Comcast hints at plan for paid fast lanes after net neutrality repeal (jdargis)

The circumstances in 2014 were different than they are today. Back then, the FCC clearly intended to impose at least some restrictions on paid prioritization, and ISPs were trying to avoid the Title II classification. Comcast had also agreed to some limitations on paid prioritization as a condition on its 2011 purchase of NBCUniversal.

This City Hall, brought to you by Amazon (tmn)

Example: Chicago has offered to let Amazon pocket $1.32 billion in income taxes paid by its own workers. This is truly perverse. Called a personal income-tax diversion, the workers must still pay the full taxes, but instead of the state getting the money to use for schools, roads or whatever, Amazon would get to keep it all instead.

“The result is that workers are, in effect, paying taxes to their boss,” says a report on the practice from Good Jobs First, a think tank critical of many corporate subsidies.

North Korea Could Have Nuclear ICBM Next Year, South Says (jdargis)

Unification Minister Cho Myoung-gyon, South Korea’s lead official on North Korea, also said his government was closely monitoring missile-related activities in North Korea for a possible resumption of tests. North Korea has not conducted a missile test since Sept. 15. The hiatus has raised cautious hopes in the region that the country might want to de-escalate after a series of missile and nuclear tests earlier this year and instead focus on bracing its economy for the pain expected to result from fresh sanctions.

Don’t Make This Retirement Mistake (Tiffany D.)

You wouldn’t go out to sea without knowing precisely how much fuel, water, food and other essentials you had on board. After all, your life depends on it.

But there’s a good chance you’re heading into retirement with a faulty figure for your net worth...

How Opioids Started Killing Americans (jdargis)

According to the National Institute on Drug Abuse, more than 33,000 Americans died from opioid overdoses in 2015. Most of those deaths were linked to prescription pain pills, though the use of heroin was already growing rapidly, accounting for almost 13,000 fatalities that year. The scourge has continued to inundate America’s health care infrastructure. An analysis published this week by OM1 Inc., a company that uses artificial intelligence to improve health outcomes, found that in the second quarter of 2017, one out of every six emergency room visits in the U.S. was opioid-related.

OPEC’s Impossible Task (Michael K.)

The difficulty for OPEC, as Bloomberg Gadfly notes, is that the estimates for how much supply the U.S. will add next year differ by a wide margin. The IEA predicts non-OPEC supply growth by about 1.4 million barrels per day (mb/d) in 2018, a massive sum that would overwhelm demand. In this view, the OPEC cuts are badly needed to avoid another price collapse. OPEC is more hopeful that the shale industry will struggle; the cartel only predicts non-OPEC supply growth of less than 900,000 bpd next year.

Chinese bike share graveyard a monument to industry's 'arrogance' (ZWW)

Customers are charged just pennies per 30 minute ride, but competing companies have flooded cities with bikes to ensure cycles are always available. The top two firms have each raised more than $1bn (£750m) in funding.

Shanghai currently has 1.5m shared bikes on the streets, and despite its population being three times greater than London, that number far outstrips the 11,000 Santander Cycles peppered throughout the UK capital.

Gold & Silver

Click to read the PM Daily Market Commentary: 11/27/17

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."

7 Comments

sand_puppy's picture
sand_puppy
Status: Diamond Member (Offline)
Joined: Apr 13 2011
Posts: 1758
Selling Totalitarianism to GREEN

AI scanning Facebook posts for evidence of suicidal thinking patterns

Facebook proudly brags that it will use AI to "save lives" based on behavior and thought pattern recognition. 

This is software to save lives. Facebook’s new “proactive detection” artificial intelligence technology will scan all posts for patterns of suicidal thoughts, and when necessary send mental health resources to the user at risk..., or contact local first-responders

Such a pattern recognition software could be used to send law enforcement to a person's home to confiscate firearms.

A new ballot measure being considered by voters in Washington State, officially referred to a Initiative Measure 1491, would allow authorities to seize guns from people considered "significantly more likely to commit violence toward themselves or others in the near future."  

Recall that mental health justification is one of the few areas where a person can be imprisoned without charges (and minimal due process) "for their protection."

Or the Chinese system of assigning each citizen a "citizenship score" based on their attitudes posted on social media.

 

The Chinese government has mandated a rating system that looks like a credit rating but goes much deeper ... defining someone in terms of the government’s desires and aims.

In addition to measuring your ability to pay,... the scores serve as a measure of political compliance. Among the things that will hurt a citizen’s score are posting political opinions without prior permission, or posting information that the regime does not like, such as about the Tiananmen Square massacre that the government carried out to hold on to power, or the Shanghai stock market collapse.

Less intelligent GREEN Meme thinkers will be deceived.  GREEN is enthralled by the "power of love" and has learned to "see all people as good."  This pattern refuses to see deception  because it "believes in the goodness" of everyone.  "They would never do that!"

This type of "pre-crime" AI assessment, along the destruction of net neutrality in process now, may make the public internet an unworkable venue for the free exchange of ideas.

When will the internet become too dangerous for outside the box thinkers?

Time2help's picture
Time2help
Status: Diamond Member (Offline)
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Posts: 2766
Fighting Israel's Wars
 
Quote:

Israel has been uniquely successful at imposing its will over Congress and the White House. Every freshman class in Congress, plus spouses, is automatically whisked off for a deluxe all expenses paid propaganda trip to Israel, which is funded by an affiliate of the American Israel Political Action Committee (AIPAC). That is supplemented frequently throughout the year through taxpayer funded CODELS by established politicians to find out the “facts” on what is going on in the Middle East. During congressional recesses Congressmen are sometimes more likely to be found visiting Israel than dealing with problems in their own districts and they routinely return spouting whatever line is being promoted by the Israeli government.

There is also the training of American police in “Israeli methods,” which is funded both by government and foundations set up for that purpose. Less well known is the inroads Israel has made with the American military establishment. Shoshana Bryen, former executive director of the Jewish Institute for National Security Affairs (JINSA) and currently affiliated with the Jewish Policy Center, who has been involved in hosting the indoctrination of U.S. national security personnel, recently described it this way: “I have taken more than 400 American security professionals – primarily retired American Admirals and Generals – to Israel in more than 30 trips. And at the other end of their careers, I have sent more than 500 cadets and midshipmen of our service academies to Israel before they received their commissions. And I can say that they all understood the fundamental and profound principles that guide both the United States and Israel. They don’t always agree with Israel’s politics – or Israel’s defense choices – or any other single aspect of Israeli political, military and social life, but I never found one that didn’t believe in the relationship between Jews and the land of Israel. The United States military, then, is a Zionist institution.”

 
Bankers Slave's picture
Bankers Slave
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Tycer's picture
Tycer
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Posts: 601
I remember that. Dunbar’s number

I remember that. Dunbar’s number made simple for monkeys like me. Still find it funny. Kind of sad actually as I thought I had evolved beyond sophomoric humor. Ha!

cmartenson's picture
cmartenson
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Joined: Jun 7 2007
Posts: 5569
The Monkeysphere

Great article, thank you for that.

I loved the whole thing, great technique, but this part rang especially true:

[T]rain yourself to get suspicious every time you see simplicity. Any claim that the root of a problem is simple should be treated the same as a claim that the root of a problem is Bigfoot.

Simplicity and Bigfoot are found in the real world with about the same frequency.

So reject binary thinking of "good vs. bad" or "us vs. them." Know problems cannot be solved with clever slogans and over-simplified step-by-step programs.

I suppose the tragedy of humanity cannot be avoided...we have evolved to be able to both operate in very large assemblages and yet not be able to grasp more than 0.00000002% of that very same assemblage.

(That percentage is 7.4 billion divided into 150)

 

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4064
Europe's central banks warn about bubbles critics say they helpe

Europe's central banks warn about bubbles critics say they helped ...

Reuters-27 minutes ago
Critics have long blamed these phenomena on the central banks' own ultra-low interest rates, aimed at spurring lending and risk-taking, and massive cash injections, such as the ECB's 2.55 trillion euro ($3 trillion) bond-buying program. Germans in particular have been protesting that too much stimulus risks doing more ...

 

DennisC's picture
DennisC
Status: Gold Member (Offline)
Joined: Mar 19 2011
Posts: 271
Greetings from the Big Apple!

Trying to keep it simple (ha ha).  That article is a keeper, in my opinion, and has too many great lines to repeat here.  You have potential, and you have potential, and...Thanks!

 

(source and photo credits) https://www.yahoo.com/news/abominable-news-purported-yeti-evidence-came-...

 

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