Daily Digest

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Daily Digest 9/11 - Conjuring Up The Next Depression, Huge Vegetation Change Could Affect Earth

Tuesday, September 11, 2018, 11:36 AM

Economy

Conjuring Up the Next Depression (Paul D.)

The global financial system is a ticking time bomb. The question is not if it will explode but when it will explode. And once it does, the inability of the global speculators to use fabricated money with zero interest to paper over the debacle will trigger massive unemployment, high prices for imports and basic services, and a devaluation in which the dollar will become nearly worthless as it is abandoned as the world’s reserve currency. This manufactured financial tsunami will transform the United States, already a failed democracy, into an authoritarian police state.

Brexit: Beware The Ides Of March (James W.)

The truth is, nobody in Europe knows what the outcome of the Brexit negotiations will be, whether a deal will be agreed or not and whether a deal, assuming it is agreed, will be of a “soft” or “hard” version. As somebody who successfully predicted the narrow Leave victory at the beginning of 2016 on this blog, I thought it would be sensible to review whether my forecast of a “semi-soft” Brexit still stands.

How Things Fall Apart: Extremes Aren't Stable (Thomas R.)

Consider China, a nation (like many others) dependent on a vast, never-ending expansion of credit. So what happens when defaults start piling up in the shadow banking system? The central bank/state authorities conjure up a couple trillion yuan (a.k.a. liquidity) so defaults go away: here, Mr. Bad-Risk-Default, is government-issued credit so you can pay off your defaulted private-sector loan. Everybody saves face, private losses have been transferred to the public sector/state, problem solved.

Several Killed After Militants Storm Libya's National Oil HQ In Tripoli (Thomas R.)

Reuters reported smoke and ambulances ferrying injured away in an attack that eyewitnesses say started with five blasts and resulted in multiple people being shot. The large glass-fronted office complex is located in central Tripoli and the state-run NOC is responsible for exporting a combined 70% of the country's oil across its subsidiaries and facilities throughout the country.

The future of food: what we’ll eat in 2028 (Sparky1)

These days, science may have dissected almost every element of our diet, but many of us still feel at sea. Even when sticking to official advice, healthy foods that seem to energise one person can cause another to feel fatigued and bloated. In 2015, a team of scientists from Israel tracked blood sugar levels in the blood of 800 people over several days, making the surprising discovery that individuals’ biological response to identical foods varied wildly. Some people had a blood glucose ‘spike’ after eating sugary ice cream, while others’ glucose levels only increased with starchy rice – a finding at odds with conventional wisdom.

Leading U.S. Health Systems Announce Plans to Develop a Not-for-profit Generic Drug Company (Sparky1)

As has been widely reported, certain generic drug manufacturers have been widely criticized for unwarranted and arbitrary price increases and for creating artificial shortages of vital medications. These activities have resulted in some generic drugs increasing in cost by more than 1,000 percent in just a few months for seemingly no reason. Research into the actual costs of manufacturing and distributing generic drugs suggests that, in many instances, generic drug prices can be reduced to a fraction of their current costs, saving patients, and the healthcare systems that care for them, hundreds of millions of dollars each year.

A decade after the financial crisis, this retirement dilemma still hasn't been solved (Thomas R.)

Those individuals were less likely to lose their jobs and more likely to get a raise after the recession. And when the market hit bottom, they were more likely to buy shares when they were at their lowest value, Ghilarducci said.

Crypto-Mania Collapse Update: $638 Billion Gone (Thomas R.)

Cryptos are “decentralized.” That was one of the major selling points in whitepapers full of intelligent-sounding gobbledygook and other propaganda promoted in myriad ways, including by an army of crypto trolls and celebrities paid by the tweet. Because cryptos are decentralized, everyone can create their own, and all kinds of outfits are mining new units of existing cryptos. It’s really just a big joke. But people are losing large amounts usually expressed in their hated fiat currency. The pain is real. And the numbers are big.

Tesla’s stock stumble is a buying opportunity, analyst says (Thomas R.)

Despite all the negative sentiment surrounding the stock — concerns about the potential legal fallout from CEO Elon Musk’s “funding secured” tweet, his recent erratic behavior, as well as executive departures — Tesla appears to be on track to meet Model 3 production goals and its profitability and cash flow targets, analysts at Bernstein, led by Toni Sacconaghi, said in a note.

Trump's trade war has forced one of Europe's most famous automakers to delay a $30 billion IPO (Thomas R.)

The FT reports that though Geely believed it had secured the backing of investors, it worried that Volvo's stock could slip in the immediate aftermath of the flotation, angering Swedish pension funds. The IPO would have been the largest in Sweden since telecoms firm Telia listed in 2001.

More teens would rather text their friends than hang out IRL (tmn)

The survey is self-reported, which means it has limitations. (We can pretty easily delude ourselves, not to mention others.) But in comparison to a separate, nationally representative group of 13-to-17-year-olds Common Sense surveyed in 2012, it shows how teens’ social-media usage and attitudes are generally changing over time.

Hurricane Florence is heading toward the US and increasing in force (tmn)

A hotter planet is likely making storms like Florence worse, according to the US National Ocean and Atmospheric Administration (NOAA). While predicting the effects of a single storm is tricky, global warming is like steroids for hurricanes. It raises sea levels, and contributes to higher rainfall rates and storm intensity. “Greenhouse warming will cause hurricanes in the coming century to be more intense globally and have higher rainfall rates than present-day hurricanes,” NOAA wrote in a review of the latest science.

Huge vegetation change could affect Earth (Paul D.)

The researchers calculate that if nations go on driving economies by coal, oil and natural gas combustion, the chance of large-scale change in the planet’s vegetation is more than 60%. If nations implement their Paris promises the probability of global-scale change is less than 45%. Most of this change will occur in this century and, because of the rate of warming, people now alive will see some of these vegetation shifts.

Gold & Silver

Click to read the PM Daily Market Commentary: 9/10/18

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."

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