Daily Digest

Image by metaphoricalplatypus, Flickr Creative Commons

Daily Digest 9/6 - ‘Archived’ Heat Reaches Deep Into Arctic Interior, The Economist Behind 1%'s Takeover Of America

Thursday, September 6, 2018, 9:07 AM

Economy

Meet The Economist Behind The One-Percent's Stealth Takeover Of America (Don R.)

Buchanan began working on a description of power that started out as a critique of how institutions functioned in the relatively liberal 1950s and ‘60s, a time when economist John Maynard Keynes’s ideas about the need for government intervention in markets to protect people from flaws so clearly demonstrated in the Great Depression held sway. Buchanan, MacLean notes, was incensed at what he saw as a move toward socialism and deeply suspicious of any form of state action that channels resources to the public. Why should the increasingly powerful federal government be able to force the wealthy to pay for goods and programs that served ordinary citizens and the poor?

Is Education A Fundamental Right? (jdargis)

Plyler’s reach extends, too, to lawsuits filed this summer on behalf of immigrant children who were separated from their families at the U.S.-Mexico border. In June, the Texas State Teachers Association called on the governor of the state to make provisions for the education of the detained children, before the beginning of the school year, but has so far received no reply. Thousands of children are being held in more than a hundred detention centers around the country, many run by for-profit contractors. Conditions vary, but, on the whole, instruction is limited and supplies are few. “The kids barely learn anything,” a former social worker reported from Arizona.

Eternal Sunshine of the Spotless Mind (Aaron M.)

Still, be careful about what you do with information about valuations. If overvaluation was sufficient to halt a market advance, we would never have observed valuations like 1929, 2000, and today, because those advances would have ended at lesser extremes. It’s common to imagine that if valuations have pushed to extreme levels without a collapse, there must be something wrong with the valuation measures. But that’s not how valuations work.

Amazon Hits $1,000,000,000,000 in Value, Following Apple (Thomas R.)

In the beginning, Amazon was an exciting new way to shop for books: online. Then it was an exciting new way to read (Kindle e-books), an exciting new way to publish (CreateSpace), an exciting new way to power the internet (Amazon Web Services), an exciting new way to get deliveries (Amazon Prime), an exciting new way to make your house a high-tech outpost (Alexa).

Ford Pares Losses, Toyota Slips as Auto Sales Seen Flattening (Thomas R.)

"I certainly wouldn't say it's impossible that sales could go higher," Bryan Bezold, a senior Americas economist at Ford, said during a conference call with analysts and members of the media. "But the most likely case is the one we've outlined for several years now, which is our frame of reference here is that we have a several-year period coming out of the crisis when the rate of growth of auto sales exceeded the rate of growth of GDP. And that period is largely behind us because we think the replacement demand that we felt during the crisis has been satiated. So, I would expect it would be at this plateau."

JP Morgan's top quant warns next crisis to feature flash crashes and social upheaval not seen since 1968 (Sparky1)

"They are very rapid, sharp declines in asset values with sharp increases in market volatility," Kolanovic, the bank's global head of macro quantitative and derivatives research, said in a recent interview. But those flash crashes occurred during a backdrop of a U.S. economic expansion; the new market hasn't been tested in the throes of a recession, he said.

Gold, Silver Prices Down As U.S. Dollar Index Rallies (Thomas R.)

The key outside markets today find the U.S. dollar index solidly higher as the greenback continues its assault on the world’s secondary currencies. Meantime, Nymex crude oil prices are also firmly up and hit a nine-week high overnight, on worries about a hurricane in the Gulf of Mexico shutting in some U.S. crude oil production for a period of time.

COMEX Silver To Test 2015 Lows-Craig Hemke (thc0655)

By any traditional measure, the latest Commitment of Traders reports are unabashedly bullish. "Speculators" are net short and "Commercials" are net long. This rarely-seen dynamic would seem to be a surefire bullish signal. However, if these extremes are only due to the aforementioned management of the "peg", then why would we expect a sudden trend change and reversal based solely upon traditional CoT analysis?

Asian stocks hit with widespread declines (Thomas R.)

After a rebound Tuesday, Hong Kong stocks were underwater again, with tech names leading the pressure. The Hang Seng HSI, -0.99% was down 2.6%, with Unicom 0762, -0.21% down 2.4% and China Telecom 0728, +2.60% down about 1% after jumping Tuesday on the potential of the state-controlled wireless firms merging. Meanwhile, internet giant and index heavyweight Tencent 0700, -3.14% slid 4%, reversing Tuesday’s rebound.

Oroville Dam repairs now exceed $1 billion and ‘may be adjusted further’ as work continues (jasonw)

Since the crisis, state officials have said they expect the Federal Emergency Management Agency to reimburse the state for up to 75 percent of the costs, with the local water districts that store water behind Oroville Dam covering the rest.

Is China’s $26 Trillion New Silk Road A Debt Trap? (Thomas R.)

Already, some Chinese-led projects have experienced high levels of complaints that they are too expensive and give little work to local contractors. In response, some governments including Thailand, Tanzania, Sri Lanka and Nepal have halted, scaled back, and or renegotiated projects with Beijing.

Oil Could Jump To $95 This Winter (Thomas R.)

There are differing opinions about how U.S. sanctions against Iran will affect oil prices. While there seems to be general agreement that there will be a negative effect, opinions differ as to its extent. Some analysts believe that Iran could resort to secret oil shipments, for example, which will curb the effect of the sanctions, which aim to reduce the country’s exports to zero.

Is China fueling the developing world’s environmental crisis? (Paul D.)

Over the last decade, China has become the biggest trade partner to continental Africa and to several countries in Latin America, homes to some of the world’s poorest people. At the same time, air pollution has surged in many of these countries, especially in Africa.

Warming of the interior Arctic Ocean linked to sea ice losses at the basin margins (newsbuoy)

The source of the increased halocline heat content can be understood by first considering how the BG halocline is ventilated. The northern Chukchi Sea (NCS) region exerts major influence on the interior structure of the halocline; here, water masses with the salinity range of the warm halocline outcrop at the surface.

‘Archived’ heat has reached deep into the Arctic interior, researchers say (newsbuoy)

“This means the effects of sea-ice loss are not limited to the ice-free regions themselves, but also lead to increased heat accumulation in the interior of the Arctic Ocean that can have climate effects well beyond the summer season,” Timmermans said. “Presently this heat is trapped below the surface layer. Should it be mixed up to the surface, there is enough heat to entirely melt the sea-ice pack that covers this region for most of the year.”

The Growing Case for Geoengineering (newsbuoy)

Big questions remain about whether it would really work, what damaging side effects might arise, and whether the world should risk deploying a tool that could alter the entire climate. Indeed, the suggestion that we should entrust the global thermostat to an armada of flying robots will strike many as preposterous. But the real question is: preposterous compared to what?

Gold & Silver

Click to read the PM Daily Market Commentary: 9/5/18

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."

5 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4238
Spending on fixed costs rise for largest US cities: S&P

Spending on fixed costs rise for largest US cities: S&P

Reuters-17 hours ago
NEW YORK (Reuters) - Some of the largest U.S. cities spent more on pension payments and other fixed costs in fiscal 2017 than the year before, and those ...

Aso says initial budget requests for fiscal 2019 likely to reach record ...

Japan Today-13 hours ago
In comparison, the U.S. debt burden is around 125 percent of gross domestic ... The defense ministry has requested 5.3 trillion yen for next fiscal year, a 2.1 ...

French 2017 public deficit, debt revised up due to SNCF debt: INSEE

Reuters-6 hours ago
That added 2.2 billion euros ($2.56 billion) to the public deficit and 39.5 billion euros to the national debt. A further 2.5 billion euros was added to the deficit due ...

Indian rupee breaches 72/dlr, markets worry over mild c ...

Reuters-6 hours ago
“The central bank sold $24 billion during the span when the rupee fell from 65 to the dollar to 69 while it has sold just about $5 billion when it moved from 70 to ..

India getting rid of US Treasury securities and buying gold

RT-4 hours ago

India getting rid of US Treasury securities and buying gold ... At the same time, Japan and China, the biggest holders of the US papers also reduced their shares, .

Kolanovic Says Machine-Made Liquidity Will Fail in Next Crisis

Bloomberg-10 hours ago
... everything from ballooning public debt to impaired growth to lower inflation. ... that the next recession will be shallower amid few signs of a housing bubble.

 

sand_puppy's picture
sand_puppy
Status: Diamond Member (Offline)
Joined: Apr 13 2011
Posts: 2036
Skripal Assassins Arrive in GB

Everyonce in a while you see some faked news or photographs and feel a moment of embarrassment for the fakers.  How did they fail to reconcile that data point?

Both Craig Murry and Dimitri Orlov (Patreon paywall, starts here) dissect the Russian agents arriving in the UK to assassinate the Skripal's story.  Here are the alleged assassins, Petrov and Boshirov.

Dimitri Orlov writes

... Two people flew in from Moscow to spray a defective poison on a doorknob, then discard it? (It only killed one out of five people.) The British claimed that their names were fake, as were their documents, expecting us to believe that who they are isn’t known but that it is known that they are Russian agents. Well, one of their names is certainly fake on examination: it’s Bashirov (a very common last name in the Russian Republic of Tatarstan) not Boshirov. Why would a Russian agent put a typo in his alias? It seems “highly likely” that this typo was British in origin.

 

Then, we are told that these two flew in directly from Moscow with Russian passports, meaning that they had to have obtained visas at the British Embassy in Moscow in a process that involves fingerprinting and other biometric data. This should make them easy to identify and to find out their real names, but it has been five months and the British authorities still haven’t bothered to do so. This makes it “highly likely” that these are not real Russian agents....

Then in a very remarkable event, they were photographed arriving at the Gatwick Airport in London. 

Pterov's arrival is time stamp 16:22:43.  This is a VERY precise documentation of arrival time down to the hundredth of a second.

And here is Borishov's arrival.

Holy Toledo, Batman!  Borishov walks through the arrival gate at EXACTLY the same time as Petrov, 16:22:43, accurate down to the hundreth of a second!

Lets assume for a moment that the photos are accurate.    Two explanations exist, both of which are materially impossible.  One is that both Petrov and Borishov were occupying the same space at the same time in the same gate.  The other is that these photographs are taken from separate gates and that these hightly skilled Russian agents choriographed their arrival walks with stunning and superhuman precision, down to the hundredth of a second.

 

robie robinson's picture
robie robinson
Status: Diamond Member (Offline)
Joined: Aug 25 2009
Posts: 1220
acesovereggs's picture
acesovereggs
Status: Member (Offline)
Joined: Aug 22 2018
Posts: 15
Different corridors

The debunkers of the above theory I believe are correct when they say those pictures were taken from 2 separate corridors that were parallel to each other. 

I say that because the camera is at a slightly different angle in the 2nd picture.  If you find the bigger pictures elsewhere you can tell more easily by looking at the red mark on the right wall, for example.  I can believe that they were in separate parallel corridors at about the same place and time.  From the pics it looks like they weren't in the EXACT same spot.  I can envision 2 people walking a short'ish distance at about the same pace with this result. 

I could care less about most of these 'news' stories and don't follow any of it, so I don't have a dog in this fight.  The larger picture story of the poison and so forth I agree doesn't make a lot of sense, and nothing surprises me anymore so I don't have an issue believing a 'conspiracy theory'. 

I just don't like to be duped by EITHER side. 

 

TechGuy's picture
TechGuy
Status: Gold Member (Offline)
Joined: Oct 13 2008
Posts: 453
Re: Parallel corridors

"I say that because the camera is at a slightly different angle in the 2nd picture. If you find the bigger pictures elsewhere you can tell more easily by looking at the red mark on the right wall, for example. I can believe that they were in separate parallel corridors at about the same place and time. "

 "Parallel corridors" theory does not rule out that they are from seperate time periods & different flights. When have you seen parallel corridors on the same plane? I presume the video was taken in the plane-to- terminal corridor which is narrow. Odds that 2 men from differnent flights passed through two different corridors at the same time is astronomically low. The most probably cause is that the time stamp has been altered or added at a later date. Most survelliance videos do not contain large time stamps. Also notice that the "PAUSE" and time stamp are exactly the same font. I presume that the these snapshots were taken from a video stream that was "paused" to take a snapshot of the video stream. Also note that the picture of borishov has a cut off date stamp at the bottom of the frame the other picture does not, but both pictures have the exact same font and size of the timestamp.

Regardless a coupe of snapshots from a plane do not proof these men are anyway connected to the assination atttempt. All it proves is that two men passed through a corrodor, likely at an airport some where in the world.  For all we know these men could have been departing, or arrived at an airport half way around the world. There is no indication of the true video source.

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