Daily Digest

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Daily Digest 9/9 - The Hell Economy, Tesla’s Death Dive

Sunday, September 9, 2018, 10:29 AM

Economy

White-Collar Criminals Got Off Scot-Free After the 2008 Financial Crisis — and That Helped Fuel President Trump's Rise (edelinski)

These facts are worth recalling in the context of the recent convictions of former Trump campaign chairman Paul Manafort on charges related to bank and tax fraud, and the guilty plea by former Trump lawyer Michael Cohen, who directly implicated the president in campaign finance law violations. As sordid as their actions were, they are small beer compared to what took place in the decade, in which a whole industry literally succumbed to an epidemic of fraud, money laundering, and other forms of malfeasance.

London Property: Here Comes the Slump (Adam)

Jitters surrounding London's property market are finally starting to show up in home prices. Brexit uncertainty has converged with rising interest rates, higher sales tax and stretched affordability. Islington is suffering the biggest declines, with home prices falling 7.8 percent from a year earlier, according to Bloomberg’s analysis of preliminary U.K. Land Registry. Home prices in Wandsworth slumped 7.2 percent and those in Southwark fell 4.8 percent. Surveys have shown declines for several months, but now the end of the boom is clear in official statistics too. It could be a while before the full extent of the price declines show up in the numbers as tumbling sales have made it difficult gauge the full picture, especially in the priciest parts of Central London.

Unsound Banking: Why Most of the World’s Banks Are Headed for Collapse (thc0655)

Most people today are only dimly aware that until the early 1930s, gold coins were used in everyday commerce by the general public. In addition, gold backed most national currencies at a fixed rate of convertibility. Banks were just another business—nothing special. They were distinguished from other enterprises only by the fact they stored, lent, and borrowed gold coins, not as a sideline but as a primary business. Bankers had become goldsmiths without the hammers.

Things Fall Apart (Part 2) (hail, Alex M.)

No, the Tony Soprano portfolio is the private endowment that has done... okay, I guess... but more because operating draws have gone down over this nine-year expansion than because investment performance was good. It’s the IRA that is … up a bit, yeah … but somehow always seems to zig when it should’ve zagged, so that it lightens up at the bottom of every two-week swoon and goes all-in in months like this January. It’s the wirehouse model portfolio that has done everything right in its analysis and its diversification and yet STILL underperforms the S&P 500 every year. Every. Freakin’. Year.

Gold – Dark Before the Dawn (GE Christenson)

M2 has risen exponentially for decades and will rise further, regardless of which “party” claims they control the government, central bankers “printing” dollars or commercial bankers expanding the supply of dollars and devaluing them.

I survived the Warsaw ghetto. Here are the lessons I’d like to pass on (Sparky1)

If disaster comes, you will find that all the myths you once cherished are of no use to you. You will see what it is like to live in a society where morality has collapsed, causing all your assumptions and prejudices to crumble before your eyes. And after it’s all over, you will watch as, slowly but surely, these harshest of lessons are forgotten as the witnesses pass on and new myths take their place.

The Hell Economy — it´s 14 per cent (Jesper A.)

Of all consumption half is big-ticket (find out the exact ratio by thineselves please) consumption, the rest is low-grade (including the life-sustaining food we eat), now out of this my guesstimate (quite unscientific) is that almost half is moral economics. Even Gerth and Mills make this point on how the US has to patrol the countries of the world which it had lent profuse amounts (cf. Character and social structure, 1964), for it was related to the deficits. This I note in passing only for this is the kind of hell-economics we live under, although not all people are aware of it.

Tesla’s Death Dive (thc0655)

“Since I joined Tesla on August 6th, the level of public attention placed on the company, as well as the pace within the company, have exceeded my expectations,” Morton said a statement released by the company in a filing with the Securities and Exchange Commission. “As a result, this caused me to reconsider my future.”

Russian Ministry Warns of Coming Environmental Apocalypse Fueled by Climate Change (Paul D.)

Russia’s environmental ministry has published a report that paints an apocalyptic future for the country due to climate change, with consequences including epidemics, drought, mass flooding and hunger.

Alaska Refuge Can't Protect its Wildlife from Climate Change (Paul D.)

Thousands of murres, puffins, auklets, and other seabirds used to scream through the skies over Adak. “Now it’s something like 200 to 300,” says Douglas Causey, a Professor of Biological Sciences at the University of Alaska, Anchorage, who has been coming to the island for three decades.

Ancient farmers spared us from glaciers but profoundly changed Earth's climate (Paul D.)

"There is pretty good agreement in the community of climate scientists that we have stopped the next glaciation for the long, foreseeable future, because even if we stopped putting carbon dioxide into the atmosphere, what we have now would linger," says Ruddiman. "The phenomenal fact is, we have maybe stopped the major cycle of Earth's climate and we are stuck in a warmer and warmer and warmer interglacial."

Melting glaciers are triggering the world's biggest tsunamis (Paul D.)

Scientists say huge, landslide-triggered tsunamis are becoming more frequent — and could pose an increasing hazard in places like Western Canada — as climate change melts the glaciers that hold mountainsides in place, both on the coast and far inland.

Gold & Silver

Click to read the PM Daily Market Commentary: 9/7/18

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."

3 Comments

sand_puppy's picture
sand_puppy
Status: Diamond Member (Offline)
Joined: Apr 13 2011
Posts: 2016
Assad gives order to use chemical weapons.....

Yes, this is stupid beyond belief.  (Source)

Mr Assad just about finishes his clean-up of mercenary "rebels" in one last pocket in Idlib, and decides to announce to the world that he intends to "cross the line" by using chemical weapons so that the US has the rationale to bomb Assad from the moral high ground.

....unnamed US officials are now claiming to be in possession of intelligence which they say shows Assad has already given the order in an absolutely unprecedented level of "pre-crime" telegraphing of events on the battlefield.

and the supporting evidence is

....anonymous officials told the WSJ....

One person's assessment:

"Lots of evidence" Trump regime not even trying, they're just phoning this disinformation campaign in.

And Russia and Iran are included in these cross hairs.

newsbuoy's picture
newsbuoy
Status: Gold Member (Offline)
Joined: Dec 10 2013
Posts: 322
Best Economy of Our Lifetimes

"new numbers out today!"

R U F'n kiddingk me.

nyet, nyet, nyet!

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4223
Argentines seek soup kitchens, barter markets amid crisis

Rupee Tumbles to New Record as India Scrambles to Halt Decline

Bloomberg-1 hour ago
The Indian rupee and bonds sunk after the current-account deficit widened to the ... Global funds sold $601 million of India's bonds this month, more than the ...

Argentines seek soup kitchens, barter markets amid crisis

Washington Post-9 hours ago
President Mauricio Macri had to seek a $50 billion loan from the International ... unraveled and eventually defaulted on a debt of more than $100 billion.

Philippine Peso Poised to Sink Further as Contagion Spreads

Bloomberg-10 hours ago
“The Philippines twin deficits worry us particularly in this environment, where rates in ... debt in Singapore at Neuberger Berman, which oversees $312 billion.

Italy's New Rulers Don't Come for Free

Bloomberg-7 hours ago
Another downgrade would put Italian government bonds dangerously close to ... Italy stands out among advanced economies for its high stock of public debt.

Report warns of explosion in public debt caused by ageing population

Irish Times-18 hours ago
“A range of policy reforms, such as increases in the State pension age, have already been implemented to mitigate against the costs associated with population ...

Rahm bails on financial crisis as homeowners brace for tax tsunami

Loop North News-22 hours ago
... of the city's catastrophic finances and the monumental $28 billion public pension debt much more clearly than the hapless home and condominium owners.

 

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