Daily Digest

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Daily Digest 8/16 - "Marine Heat Waves" Doubled Since 1982, We Wanted Safer Banks And Got More Inequality

Thursday, August 16, 2018, 8:14 AM

Economy

Economic Contagion? Central Banks Are The Real Culprit (thc0655)

Of course, the linchpin idea and the notion that overcomplexity is to blame for all the world’s ills helps globalists greatly. For if human systems need to be streamlined or "simplified", what better way to do this than to get rid of sovereign nation states, governments and economies and centralize everything down into a one world economy, a one world government, a new world order?

What linchpin theory ignores is the careful strategic planning required to position all the geopolitical dominoes in a perfect chain so that they can be knocked over by that one person, country or event.

We Wanted Safer Banks. We Got More Inequality. (lambertad)

First, as the country becomes more unequal, there are fewer middle class customers. That means middle class bank products become unprofitable, and banks follow the money. And banking regulations make it worse because the capital requirements imposed after the banking crisis make it a lot more expensive for banks to do a startup small-business loan than go into wealth management. Startup loans are riskier than wealth management, of course, but the capital costs have become prohibitive, and banks don’t lose money on purpose.

Primary elections: new wave of firebrand candidates prepare for 2018 midterm elections under Trump (Thomas R.)

The most successful candidates in recent primaries across the country have virtually all taken strong stances on Mr Trump’s presidency, either supporting or rebuking the current White House wholeheartedly. While the most popular Republican candidates have often backed the administration’s hardline agenda on issues like immigration and trade, a breadth of diverse Democratic hopefuls have added fuel to the “Resistance Movement,” vowing to fight the president at every turn.

Crypto market crash prompts suicide concerns (Adam)

On Tuesday, Lee’s index had bitcoin at 42 — bad, but it has been worse — and ether at 21, not much better than its lowest-ever rating on the index of 14 in September 2017. The index had stellar lumens at 7 out of 100.

Nikkei rebounds after recent uncertainty over Turkey crisis as China lags (Thomas R.)

Greater China markets, however, declined, lagging their regional peers. Hong Kong's Hang Seng Index erased 0.74 percent by 3:00 p.m. HK/SIN, but was off its intraday low, with the 4.29 percent drop in industrials leading losses before the market close. Tech sector names also recorded heavy declines an hour before the Hong Kong close, with heavyweight Tencent dropping 3.66 percent by 3:02 p.m. HK/SIN after the tech giant was stopped from selling a new game days after its launch.

Verizon lied about 4G coverage—and it could hurt rural America, group says (Thomas R.)

"RWA's members are in the middle of the Challenge Process but are expending enormous time and financial resources in their efforts due to inaccurate data submitted by Verizon," the group said. "RWA requests that the Commission investigate the 4G LTE coverage claimed by Verizon and require re-filing of Verizon's data to correct its overstated coverage."

The Dow just registered its longest stint in correction territory in nearly 60 years (Thomas R.)

The Dow DJIA, -0.54% stands now about 2.8% short of emerging from correction territory after hitting its 2018 closing low of 23,533.20 on March 23. It needs to close at 25,886.42 or above to achieve that. Some market-technician purists believe that an asset must put in a new high to officially emerge from correction phase. Other technicians say that a 10% gain from an asset’s low is sufficient to exit correction territory, a characterization that MarketWatch adheres to.

U.S., China to Resume Trade Talks as Tariffs Bite (Thomas R.)

China and the U.S. reached a modest breakthrough in their standoff over trade, saying they would hold lower-level talks later this month on the spiraling dispute.

China's Plan to Tank Their Own Stock Market (thc0655)

In the end, the hard-liners got the upper hand and the result was a violent military attack on the demonstration. Death estimates vary widely and cannot be verified but range from 1,000 to 10,000 dead protesters. Communist Party leadership itself was thrown into chaos in the aftermath of Tiananmen with Zhao Ziyang being purged and Jiang Zemin being installed as the new hard-line party leader.

Uber cuts its losses, and revenue soars 63% (Thomas R.)

"We had another great quarter, continuing to grow at an impressive rate for a business of our scale," Uber CEO Dara Khosrowshahi said in a statement. "Going forward, we're deliberately investing in the future of our platform."

Measles outbreak hits 21 states, including Florida and Tennessee (Thomas R.)

Measles is still common in many parts of the world, including Europe, Asia, the Pacific and Africa and travelers continue to bring the disease into the U.S. The last large number of cases occurred in 2015, when the U.S. experienced a multi-state outbreak linked to an amusement park in California. In 2014, 383 cases were reported, mostly in unvaccinated communities in Ohio.

Oil Demand Growth Starts To Weaken In Asia (Michael S.)

Despite higher purchases of Iranian oil before U.S. sanctions snap back, and despite scorching heat waves in Japan and South Korea who increased imports, annualized demand growth of the five biggest oil importers in Asia—China, India, South Korea, Japan, and Taiwan—has been around 2 percent so far in 2018, compared to growth of 3.5 percent in 2016, for example, according to shipping data compiled by Reuters.

Number of "marine heat waves" roughly doubled between 1982 and 2016, study finds (Adam)

"We knew that average temperatures were rising. What we haven't focused on before is that the rise in the average comes at you in clumps of very hot days -- a shock of several days or weeks of very high temperatures," said Michael Oppenheimer, a Princeton University climate scientist who was not involved in the study.

Global heatwave is symptom of early stage cycle of civilisational collapse (Paul D.)

In the UK, holiday-makers trying to cross the Channel tunnel to France faced massive queues when air conditioning facilities on trains failed due to the heatwave. Thousands of people were stranded for five hours in the 30C heat without water.

In southern Laos, heavy rains led to a dam collapse, rendering thousands of people homeless and flooding several villages.

Gold & Silver

Click to read the PM Daily Market Commentary: 8/15/18

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."

2 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4237
Tide about to turn for markets as easy-money decade ends

Tide about to turn for markets as easy-money decade ends

Reuters-1 hour ago
LONDON (Reuters) - Swept along by super-easy money, investors have debated for years how world markets will react when this central bank largesse ...

Contagion from Turkey's lira crash could reach the US

Yahoo Finance-1 hour ago
BIS data shows debt issued in U.S. dollars to non-bank borrowers rose to $11.5 trillion in ... “This could be a bubble waiting to pop,” Jacob L. Shapiro, director of ...

Turkey's coming default will shake the world

MoneyWeek-1 hour ago
The emerging market may not seem like a significant player in the global economy, but if it reneges on its debt, that could have huge repercussions. John Stepek ...

Goldman Frets a Huge Shift in Italian Debt Market Is Looming

Bloomberg-2 hours ago
In a stark reminder that the feedback loop is not yet fully vanquished, the capital hit due to Italian sovereign debt swings was higher than expected in the last ...

Italy's bubbling bond woes are a bigger global threat than Turkey

Telegraph.co.uk-17 hours ago
... budget committee is frighteningly blunt. The country's bond market will spin out control as soon as the European Central Bank stops buying its sovereign debt.

Payment seen unlikely on $1.1 billion in maturing Venezuela bonds

Reuters-20 hours ago
“We assume no funds allocated to make the sovereign amortization today as ... Maduro's government began quietly halting debt interest payments last year in an ...

Venezuela Has $1 Billion Due Today. The Bonds Trade at 28 Cents

Bloomberg-18 hours ago
It's pay day for $1.125 billion of Venezuelan sovereign bonds. ... That was way back when Maduro called for an impossible debt restructuring that's currently ...

China nearly quadruples infrastructure approvals in July as growth slows

Reuters-2 hours ago

That compared with approvals for 20.8 billion yuan of spending in June, ... and hidden debt has sharply pushed up funding costs and slowed investments in .

billphil1964's picture
billphil1964
Status: Member (Offline)
Joined: Jan 25 2014
Posts: 12
Grammar

Re:"Primary elections: new wave of firebrand candidates prepare for 2018 midterm elections under Trump (Thomas R.)

The most successful candidates in recent primaries across the country have virtually all taken strong stances on Mr Trump’s presidency, either supporting or rebuking the current White House wholeheartedly. While the most popular Republican candidates have often backed the administration’s hardline agenda on issues like immigration and trade, a breadth of diverse Democratic hopefuls have added fuel to the “Resistance Movement,” vowing to fight the president at every turn."

 

Wow!  "..new wave....prepare..."  and "...a breadth...have"  all in one little blurb. Who missed third grade? Busy or not, this is sloppy.

Bill

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