Daily Digest

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Daily Digest 12/11 - CA Wildfire Is 5th Largest Ever, A Disaster Worse Than the 2008 Crisis

Monday, December 11, 2017, 11:21 AM

Economy

The U.S. Media Suffered Its Most Humiliating Debacle in Ages: Now Refuses All Transparency Over What Happened (lambertad)

Surely anyone who has any minimal concerns about journalistic accuracy — which would presumably include all the people who have spent the last year lamenting Fake News, propaganda, Twitter bots and the like — would demand an accounting as to how a major U.S. media outlet ended up filling so many people’s brains with totally false news. That alone should prompt demands from CNN for an explanation about what happened here. No Russian Facebook ad or Twitter bot could possibly have anywhere near the impact as this CNN story had when it comes to deceiving people with blatantly inaccurate information.

Millions Are Hounded for Debt They Don’t Owe. One Victim Fought Back, With a Vengeance (jdargis)

Therrien had been caught up in a fraud known as phantom debt, where millions of Americans are hassled to pay back money they don’t owe. The concept is centuries old: Inmates of a New York debtors’ prison joked about it as early as 1800, in a newspaper they published called Forlorn Hope. But systematic schemes to collect on fake debts started only about five years ago. It begins when someone scoops up troves of personal information that are available cheaply online—old loan applications, long-expired obligations, data from hacked accounts—and reformats it to look like a list of debts. Then they make deals with unscrupulous collectors who will demand repayment of the fictitious bills. Their targets are often poor and likely to already be getting confusing calls about other loans. The harassment usually doesn’t work, but some marks are convinced that because the collectors know so much, the debt must be real.

A Disaster Worse Than the 2008 Crisis (Tiffany D.)

Russia knows it. The country’s central bank continues to increase its gold reserves. President Vladimir Putin is on a mission to make Russia less vulnerable to geopolitical risks, and gold is his shining monument of an answer.

In November, the country had stored 1,801 tons, about 17.3% of all global reserves. That’s a 500% increase from the 343 tons Putin took over when he first became president.

Arab states urge U.S. to abandon Jerusalem move (TS)

“Pre-emptive measures (must be) taken ... beginning with diplomatic measures, then political, then economic and financial sanctions,” he said, without giving specific details.

Laptop touchpad driver included extra feature: a keylogger (jdargis)

HP has acknowledged the keylogger's presence in a security notice on November 7, which included links to patched drivers for hundreds of HP and Compaq notebook computer models downloadable from the HP support website. In the security release, HP stated that the vulnerability "impacts all Synaptics OEM partners." The security release also asserted that neither HP nor Synaptics had gained access to customer data as a result of the keylogger.

The Massive Energy Bill In The $1 Trillion Infrastructure Package (Michael K.)

The proposal, which passed the Senate with a large majority in 2016, would streamline permitting for natural gas and hydro power projects, ease restrictions on LNG exports, modernize the electricity grid, and boost energy efficiency in buildings, according to Sen. Murkowski. It would also beef up cybersecurity, addressing a problem that has grown worse since the proposal was originally pushed two years ago.

At 230,000 acres, Thomas fire is now the fifth-largest wildfire in modern California history (jdargis)

The fire grew by more than 50,000 acres during the day, triggering new evacuation orders for about 5,000 county residents, including those east of Mission Canyon and north of Highway 192. An additional 30,000 residents west of Mission Canyon to Highway 154 and south of Highway 192 to the county line were told to prepare to leave.

Official Toll in Puerto Rico: 64. Actual Deaths May Be 1,052 (TS)

“Before the hurricane, I had an average of 82 deaths daily. That changes from Sept. 20 to 30th. Now I have an average of 118 deaths daily,” Wanda Llovet, the director of the Demographic Registry in Puerto Rico, said in a mid-November interview. Since then, she said on Thursday, both figures have increased by one.

Gold & Silver

Click to read the PM Daily Market Commentary: 12/8/17

Provided daily by the Peak Prosperity Gold & Silver Group

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1 Comment

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4149
Average US household owes $15654 in credit card debt

Average US household owes $15654 in credit card debt

Yahoo Finance-1 hour ago
... month, as well as those who carry a balance from month to month. Boiled down, the average household owes $15,654 in credit card debt. This data is alarming, but not record-breaking. According to NerdWallet, Americans owe $8.74 trillion in mortgage debt, $1.21 trillion in auto loans, and $1.36 trillion in student loans.

 

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