Daily Digest

Image by Travis Isaacs, Flickr Creative Commons

Daily Digest 1/9 - Signs Of Euphoria In The Markets, Is An Oil Price Correction Overdue?

Tuesday, January 9, 2018, 11:54 AM

Economy

Signs of Euphoria Are So High Investors Are ‘Having a Hard Time Imagining a Decline’ (jdargis)

A melt-up, crude and tax rally, equity euphoria -- call it what you may, but finding cynicism is not an easy task. Here are five signs that confidence is budding, all of which may either embolden the bulls or cause the bears to add more supplies to their doomsday bunkers.

How the heroin trade explains the US-UK failure in Afghanistan (jdargis)

At each stage in its tragic, tumultuous history over the past 40 years – the covert war of the 1980s, the civil war of the 90s and its post-2001 occupation – opium has played a central role in shaping the country’s destiny. In one of history’s bitter ironies, Afghanistan’s unique ecology converged with American military technology to transform this remote, landlocked nation into the world’s first true narco-state – a country where illicit drugs dominate the economy, define political choices and determine the fate of foreign interventions.

China’s War on Poverty Could Hurt the Poor Most (FP)

In November, authorities in Beijing began aggressively evicting internal migrant workers by demolishing entire city blocks, in some cases with only a few hours’ notice. Officially, this is a crackdown on “illegal structures” following a deadly fire that claimed the lives of 19 in a crowded neighborhood filled with domestic migrants — but the result has been to render tens of thousands of people homeless in a freezing winter.

A small town in Japan doubles its fertility rate (tmn)

Mrs Fukuda will receive a “celebratory” gift of ¥300,000 ($3,530) when she gives birth. A subsidised baby-sitting service is available for just ¥1,800 a day, along with subsidised carseats and other baby accessories. When her children reach secondary school, she will receive ¥90,000 a year for each one who attends. In theory, this stipend is to cover the cost of getting children to school, especially for people who live relatively far away. And whereas usually all but the poorest and the old in Japan have to pay 30% of their health-care bills (with the national government picking up the rest), in Nagicho the local government pays the 30% for children.

Federal regulator denies Rick Perry’s proposal to compensate coal, nuclear (jdargis)

Still, FERC noted that resilience is an important attribute for a modern grid to have, and the agency opened a new docket to investigate how to improve resilience in a broader sense—that is, not just in ensuring stockpiles of fuel. Instead, FERC's new study will evaluate how grid managers build resilience in their specific geographic footprint.

"This examination of the resilience of the bulk power system will be a priority of the Commission," FERC wrote, directing grid managers across the US to submit reports within 60 days.

While You Were on Holiday, Trump Screwed the Planet (tmn)

In general, regulators have struggled to keep up with the fracking boom over the past two decades. And by announcing this rule repeal, the BLM made clear that it feels state and tribal regulations are enough to prevent groundwater contamination, even though there’s evidence to the contrary. The BLM also calculated that rescinding the 2015 rule would save oil and gas operators almost $10,000 per well in compliance costs.

Is An Oil Price Correction Overdue? (Michael K.)

Joe McMonigle, a senior energy analyst at Hedgeye Risk Management, told UPI that there could be some “geopolitical lottery tickets” this year, especially if U.S. President Donald Trump refuses to waive the sanctions against Iran later this month.

"Gauging the probability of an oil supply disruption, calculating the likely magnitude and assigning it a premium is always tricky," Vandana Hari, a market analyst and founder of Vanda Insights, told UPI via email.

Worsening rain forecast prompts evacuations, mudslide fears across Southern California (tmn)

Residents in burn zones in Santa Barbara and Ventura counties, along with an area of Duarte, were also ordered to leave, while those in Corona and Burbank burn areas were put on notice that they may have to if conditions worsened.

Whether residents planned to stay or go, all seemed to agree on one thing: the weather whiplash was exhausting.

Gold & Silver

Click to read the PM Daily Market Commentary: 1/8/18

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."

8 Comments

sand_puppy's picture
sand_puppy
Status: Diamond Member (Offline)
Joined: Apr 13 2011
Posts: 1812
Drone Swarm Attacks Russian Base in Syria

ZH reported a few days ago:

Russian security forces of the Khmeimim air base and Russian Naval CSS point in the city of Tartus [in Syria], thwarted  a terrorist attack “with massive application of unmanned aerial vehicles (UAVs) through the night of 5th – 6th January 2018,” according to the Russian Ministry of Defense.

It was the “first time that terrorists massively used unmanned combat aerial vehicles of an aircraft type that were launched from a distance of more than 50 kilometers, and operated using GPS satellite navigation coordinates,” the ministry said in a statement.  [T]his would be the first long-range drone attack by militants in the Syrian War.

Currently, the Russian military experts are analyzing the construction, technical filling and improvised explosives of the captured UAVs. Having decoded the data recorded on the UAVs, the specialists found out the launch site [which was not named]

Further, the Defense Ministry says the extremists may have been aided by a “technologically advanced state,” as Russian specialist are now attempting to determine where the flight systems of the drones originated from.

In other words, this coordinated attack of 13 drones was a high tech weapon system, not a couple of rag-tag rebels with AK-47s.

------------

Then today, a new "coincidence" was reported by the Russians.  A US spy plane was observed to be patrolling the area at the time of the attack. 

Shortly after, the Russian Ministry of Defense  released new information, noting "strange coincidences" surrounding the terrorist attack: these included a US spy plane spotted in the area, namely a US Navy’s Boeing P-8 Poseidon reconnaissance aircraft on patrol between the Khmeimim airbase and Tartus naval base in Syria during the time of the attack.

While the Russian Ministry of Defense consciously didn’t point any fingers when talking about the January 6 attack, it demonstratively pointed out that the technology used in the attack was telling. Advanced training in engineering in “one of the developed countries” would be necessary to program the principal controllers and bomb-release systems of an aircraft-type combat drone, the Russian statement stressed and added that "not everyone is also able to get exact [attack] coordinates from the space surveillance data."

"This forces us to take a fresh look at the strange coincidence that, during the attack of UAV terrorists on Russian military facilities in Syria, the Navy reconnaissance aircraft Poseidon was on patrol over the Mediterranean Sea for more than 4 hours at an altitude of 7 thousand meters, between Tartus and Hmeimim."

davefairtex's picture
davefairtex
Status: Diamond Member (Online)
Joined: Sep 3 2008
Posts: 5267
a very complicated quagmire

Here's an article on the collection of groups (and nearby nations) focused on Syria.  Really worth reading.

You need a diagram to remind you who the players are, and who happens to be against whom today (but maybe not tomorrow, because you just never know).

https://strategypage.com/qnd/syria/articles/20180109.aspx

The "massive swarm" of drones - sounds like 200-300 right? - numbered 13.

At the same time, the first "bomber" in WW1 was the back-seater in an observation plane who took along a mortar shell and dropped it when he was over the enemy lines.

Things just grew from there.

 

DennisC's picture
DennisC
Status: Gold Member (Offline)
Joined: Mar 19 2011
Posts: 293
Related Historical Sites

Apologies for the somewhat tangential "fork" here, but on the subject of Syria, particularly Damascus, I thought this may be of interest to some.

In another Hadith, the Prophet (peace and blessings of Allah be on him) mentioned, “Allah will send Maseeh ibne Maryam (Messiah son of Mary). Thus he will descend near the white eastern minaret of Damascus, clad in two yellow sheets, leaning on the shoulders of two angels.” [Sahih Muslim]

This minaret, which is on the left side of the Umayyad Mosque is also known as the Jesus minaret. It is from here that Hazrat Isa (upon him be peace) will descend back to earth towards the end of time.

http://www.islamiclandmarks.com/syria/minaret-of-isa-as

Wikipedia also has some additional historical information: https://en.wikipedia.org/wiki/Umayyad_Mosque

 

sand_puppy's picture
sand_puppy
Status: Diamond Member (Offline)
Joined: Apr 13 2011
Posts: 1812
Drone Swarm Attack Attributed to Turkish

RT reports that the Russian MoD has indicated that the drones came from Turkish backed forces.

The Russian military said the drones had been launched from the village of Muazzara, in the south-western part of the Idlib governorate, which was designated a “de-escalation zone”under an arrangement negotiated by Russia, Turkey and Iran.

I am a bit relieved to not have US or Israel's finger prints all over this and to see the drones not obviously looking like the latest hightech Raytheon or Lockheed Martin products.

Time2help's picture
Time2help
Status: Diamond Member (Offline)
Joined: Jun 9 2011
Posts: 2808
Perhaps Turkish...

"A Strange Coincidence": US Spy Plane Circled Near Russian Base During Massive Drone Attack (ZeroHedge)

Quote:

On Tuesday, we reported  that the Russian military in Syria thwarted a massive drone attack at the Khmeimim air base and Russian Naval point in the city of Tartus on January 6, intercepting 13 heavily armed UAVs launched by terrorists.

Shortly after, the Russian Ministry of Defense  released new information, noting "strange coincidences" surrounding the terrorist attack: these included a US spy plane spotted in the area, namely a US Navy’s Boeing P-8 Poseidon reconnaissance aircraft on patrol between the Khmeimim airbase and Tartus naval base in Syria during the time of the attack.

KugsCheese's picture
KugsCheese
Status: Diamond Member (Offline)
Joined: Jan 2 2010
Posts: 1440
Charts Blank

Been like that for weeks.   Just remove them.

Adam Taggart's picture
Adam Taggart
Status: Peak Prosperity Co-founder (Offline)
Joined: May 26 2009
Posts: 3001
Price charts

Kugs -

Here's the quick update on the broken price feeds:

The data feeds we were using for the Today's Markets price quotes stopped working a few weeks back. We will replace them with new feeds from another source, but right now we also are in the middle of rebuilding the entire back-end technology platform that powers PP.com, so our IT team is 100% focused on and busy with that.

Until we're done with the rebuild (early March timing), all non-essential projects are halted. As much as I don't like having broken feeds on my homepage in the meantime, getting the back-end migration done without crashing the site (it's a massive, complex project) is indeed the superior priority here.

Once this site is on the new platform, reinstating working feeds is one of the first things we'll do.

cheers,
A

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4097
China Weighs Slowing or Halting Purchases of US Treasuries

China Weighs Slowing or Halting Purchases of US Treasuries

Bloomberg-2 hours ago
“With markets already dealing with supply indigestion, headlines regarding potentially lower Chinese demand for Treasuries are renewing bearish dynamics,” said Michael Leister, a strategist at Commerzbank AG. “Today's headlines will underscore concerns that the fading global quantitative-easing bid will trigger lasting ...

Credit card debt hits record high of over $1 trillion—here's a little ...

CNBC-Jan 9, 2018
The Federal Reserve announced on Monday that outstanding credit card debt hit a new high in November, increasing by $11.2 billion to $1.023 trillion. "This record should serve as a wake-up call to American consumers to make 2018 the year they get their credit card debt under control," says Matt Schulz, the senior ...

Fitch reiterates US downgrade warning

Reuters-3 hours ago
Fitch reiterates U.S. downgrade warning ... LONDON (Reuters) - Fitch reiterated its warning on Wednesday that the United States could lose its prized triple-A credit rating if the country's debt ceiling is not ... During the debt ceiling showdown in August 2011, Standard & Poor's stripped the United States of its highest rating.

Maryland seeks to turn health care mandate into down payment

ABC News-18 hours ago
Delegate Joseline Pena-Melnyk, D-Md., discusses plans for legislation to create an individual mandate for health care at the state level and turn it into a down ... Tuesday, a day before the Maryland legislative session begins, adding it could also work in other states to help keep insurance premiums from skyrocketing.

 

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Login or Register to post comments