Daily Digest

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Daily Digest 10/22 - The Tells Of Fiat News, How Many People Have Lived On Earth?

Monday, October 22, 2018, 9:32 AM


5 companies that spent lavishly on stock buybacks while pension funding lagged (thc0655)

Moreover, firms that fail to sufficiently top up their employee’s pension plans are facing increasing fees from the Pension Benefit Guaranty Corporation, responsible for bailing out insolvent company pension funds. Bank of America Lynch estimates the PBGC’s insurance premiums for unfunded pensions will surpass 4% by 2019, after remaining at 1% in 2013.

The Tells Of Fiat News (Alex M.)

But more often than not, too many journalists, so many of whom entered the industry out of a desire to ‘change the world’, now approach a topic having already decided the ‘beat’ toward which they must steer the story. Ideas, principles and conclusions they consider self-evident, powerful or provocative. Important. Instead of descriptions of what took place, stories are connected with ‘but’, ‘because’ and ‘therefore.’

America’s Ghost Legions of Idle Men (thc0655)

Consider these staggering statistics. Prime-age American men in employment spend 2,200 hours a year in work and work-related activity; employed women spend 1,850 hours; unemployed men spend 400 hours, mostly looking for jobs. But 7 million American men between 25 and 54 spent 43 hours a year working. That averages out to about 7 minutes a day.

Kremlin: Russia will 'restore balance' with new missiles if U.S. pulls out of treaty (Thomas R.)

Terminating the treaty, enacted by President Ronald Reagan and Soviet leader Mikhail Gorbachev in 1987, would raise the possibility of an escalating arms race at a time when Russia's military has grown increasingly aggressive in its region.

Russia has has denied claims that it violated the treaty and accused the U.S. of undermining the agreement. Peskov said Moscow expects a detailed explanation from Washington on its withdrawal decision.

Dow Jones Futures Rise After More Leaders Break Support In Stock Market Correction (Thomas R.)

The 50-day moving average is a key technical level. Top stocks often find support here, as mutual funds and other big investors step in to buy shares. While it's OK for a leading stock to dip below the 50-day line for a short span, you want to see it rebound soon. But in a stock market correction, most tickers will struggle, with growth names often falling further.

GOLDMAN SACHS: Staying away from these 20 stocks could help you avoid the pain of Trump's trade war with China (Thomas R.)

But you don't have to panic. Armed with the right information, you can steer clear of those firms that will be hit the hardest by the stronger dollar and Trump's tariffs. That means identifying and staying away from companies that have high revenue exposure to China.

How Many People Have Lived on Earth? (Paul D.)

Connelly notes that, “It had taken almost all of human history to reach 1 billion people around 1800, and 130 years to grow from 1 to 2 billion; from 1930 to about 1960 world population grew by another billion. This was the first time anyone really noticed, because previously there was no United Nations office to mark the moment, much less offer projections for the future.”

Things in the middle of the Arctic are getting really strange (Paul D.)

While temperatures are still hovering near freezing in these high northern realms, they're presently around a whopping 18 degrees Fahrenheit (10 degrees Celsius) above the 1958 to 2002 average for this time of year.

Brazil’s Offshore Boom Is Facing The Same Problem As U.S. Shale (Michael S.)

Into next year there may be problems with shortage of deep water drilling rigs, Petrobras cancelled some following the price crash and there have been reports of them looking for available rigs now: no rig, no well, no oil, no matter what the available surface processing capacity. Offshore rig numbers, by Baker Hughes, have averaged around ten over the last couple of years, unless they add numbers then the overall ramp-up will remain as it has been and production will stay about flat.

This scientist keeps winning money from people who bet against climate change (Paul D.)

In May 2005, Nature reported that British environmental writer George Monbiot challenged climate skeptic Myron Ebell -- who led President Trump's Environmental Protection Agency (EPA) transition team -- to a $9,000 bet.

Ebell, who has confidently stated that climate change "is nothing to worry about" -- would not take the bet.

The Greek Dark Age & Climate Change (Thomas R.)

Assyria and Elam appear to survive the Bronze Age Collapse and then even Elam is nearly completely destroyed by Nebuchadnezzar I who revived Babylonian Empire briefly before he in turn suffered a series of defeats by the Assyrians. After the death of their leader, Ashur-bel-kala in 1056 BC, then we see Assyria began an economic decline for about 112 years. – but by the end of the 12th century BC as it really fell back to just a city-state but it did survive the Bronze Age Collapse just greatly reduced by around 1000BC.

Gold & Silver

Click to read the PM Daily Market Commentary: 10/19/18

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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Italy tells EU it will control deficit, stick to big-spending budget

Yahoo News-4 hours ago
"The figure of 2.4 percent (deficit to GDP ratio in 2019) is a ceiling that we have ... "I see that in a country with six million living in poverty, they are implementing ...

Moody's cited concerns over the government's plans to increase public spending sharply after years of austerity, implementing election promises for a universal basic income and pension reform.

Moody's downgrades Italy's debt rating, says outlook stable

RTE.ie-6 hours ago
Moody's has cut Italy's sovereign debt rating to one notch above junk status because of concerns over government budget plans. But in a move that could calm ...


Italian bank fears expected to grow after debt downgrade

The Guardian-21 hours ago
Fears that Italy's banks face a black hole in their finances are expected to grow this week following a debt downgrade that could send the value of bank reserves ...

India offloading US Treasuries to support national currency & buy gold

RT-4 hours ago
The country's share of US sovereign debt saw a gradual decline from $157 billion in March to $140 billion as of the end of August, according to the latest US ...


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46- Years and What do ya Get?

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I found it ironic that the Mashable article...

on Climate Change wagers was on a page that was primarily marketing products. So many products that I eventually quit scrolling. Society has a long way to go before the changes that are required to mitigate climate change will take place.

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Online Ads

I know that these websites have make money somehow in order to operate - but I agree it can be taken to extremes.

I've virtually given up on going to Zerohedge just because of the excessive ads. Static images you can scroll past are one thing. Static images that popup in your face and then you have to close are even worse. But popup videos that deliberately supress the close ('X') icon until you've been forced to watch for a few seconds are beyond the pale. Especially if they start blasting the audio out too.

You can get so greedy with ad revenue that you just drive away your potential market. "Peak Ads", I guess.

Zerohedge reached that point for me some time ago. The anencephalic smeglodytes that bottom feed in the putrid toxic abyss of their comment sections are just the icing on the cake.

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I don't for a moment think it's a coincidence

I don't for a moment think it's a coincidence that the building crisis we are all observing in regard to the 3 E's is being matched by the building crises we see in international relations and civil conflict in many places (including mass immigration).  I think they're all feeding off of each other, and the crisis we're going to face is going to go waaay beyond "just" Economics, the Environment and Energy.  Concurrently, we're going to have to deal with war and civil war (hybrid or conventional), and who knows or cares which one officially starts first.  It's all currently in progress and building to a complex system collapse (like a sand pile or mountain snow bank).

Since I'm in the US, I'm focused on social conflict here more than anywhere else. This essay captures it for me.


Our Revolution

The 2008 financial crisis sparked an incipient revolution. Previously, Americans dissatisfied with their Progressive rulers had imagined that voting for Republicans might counter them. But then, as three-fourths of Americans opposed bailing out big banks with nearly a trillion dollars, the Republican and Democratic presidential candidates joined; most Republican legislators joined all Democrats; The Wall Street Journal joined The New York Times, and National Review joined The Nation; in telling Americans that doing this was essential, and that their disapproval counted for nothing. And then, just as high-handedly, all these bipartisan rulers dropped that bailout scheme, and adopted another—just as unaccountably. They showed “government by the people, for the people” to be a fable.

This forced the recognition that there exists a remarkably uniform, bipartisan, Progressive ruling class; that it includes, most of the bureaucracies of federal and state governments, the judiciary, the educational establishment, the media, as well as major corporate officials; that it had separated itself socially, morally, and politically from the rest of society, whose commanding heights it monopolized; above all that it has contempt for the rest of America, and that ordinary Americans have no means of persuading this class of anything, because they don’t count.

As the majority of Americans have become conscious of the differences between this class and themselves they have sought ever more passionately to shake it off. That is the ground of our revolution.

Identity and Power

Our time’s sharp distinction between rulers and ruled, the ever decreasing interchange and sympathy between them, is rooted in the disdain for ordinary Americans that the universities have sown since the Civil War. Ordinary Americans and their rulers are alienated now in ways unimaginable to the Northerners and Southerners who killed each other a century and a half ago, but who nodded when Abraham Lincoln noted that they “prayed to the same God.” Both revered the American founding. Both aspired to the same family life. Often, opposite sides’ generals were personal friends. And why not? The schools they attended, the books they read, did not teach them the others’ inferiority. They were one people. Now, we are no longer one people.

In our time, the most widespread of differences between rulers and ruled is also the deepest: The ruled go to church and synagogue. The rulers are militantly irreligious and contemptuous of those who are not. Progressives since Herbert Croly’s and Woodrow Wilson’s generation have nursed a superiority complex. They distrust elections because they think that power should be in expert hands—their own. They believe that the U.S Constitution gave too much freedom to ordinary Americans and not enough power to themselves, and that America’s history is one of wrongs. The books they read pretend to argue scientifically that the rest of Americans are racist, sexist, maybe fascists, but above all stupid. For them, Americans are harmful to themselves and to the world, and have no right to self-rule. That is why our revolution started from a point more advanced in its logic than many others.

The anti-establishment “wave elections” of 2010 and 2014, in which the Democratic Party lost Congress and control of a majority of state legislatures, only led America’s Progressive rulers to double down on their positions of power in the judiciary, the media, corporations, etc. The Supreme Court struck down a referendum by liberal California defining marriage as the union of one man and one woman. The federal Defense of Marriage Act, which had become law by near-unanimity, was overturned bureaucratically and judicially. The Religious Freedom Restoration Act, on the books just as firmly, was undone by executive, judicial, bureaucratic, corporate, and mediatic subordination of religious freedom to anti-discrimination. By the 2016 election, America’s Progressive rulers were demonizing and punishing persons who define male and female by their birth and personal plumbing. 1984’s Big Brother had not been so imperious.

The 2016 election’s primaries were all about the American people’s search for means of de-throning increasingly insufferable rulers. Even on the Democratic side, many bridled at their self-serving unaccountability. But since the Democrats are the party of government, it was clear that protection from and vengeance against the existing power structure would have to come from the nominal opposition party. Yet the Republicans were very much part of the problem. That is why 2016’s real struggle took place within the Republican primaries, the most enduringly significant fact of which is that Jeb Bush, the candidate most closely identified with the Progressive ruling class, spent some $150 million and secured only three convention delegates. Americans in general, and Republicans in particular, were looking for the polar opposite.

Donald Trump was out of central casting—seemingly a caricature of what the ruling class said about its opponents. But the words he spoke were less significant than that he spoke with angry contempt for the ruling class. That—and the crowded field that never allowed a head-to-head choice—is what got him the chance to be the alternative to the ruling class. And that is what got him elected President of the United States.

Those who voted for Trump believing or hoping that he would do a, b, or c, were fewer than those who were sure that he offered the only possibility of ending, or at least pausing, the power of an increasingly harmful, intolerant, disdainful, socio-political identity. In 2016 one set of identities revolted against another. That was the revolution’s first turn...

Read the whole thing.


Matt Holbert's picture
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Try Adblock

I don't see any ads on Zerohedge thanks to Adblock. In the past few weeks they have implemented a banner at the bottom of the page that asks you to unblock them but it is unobtrusive. I'm all for people having a right livelihood. But in my book pervasive and insidious marketing is not a right livelihood.

Matt Holbert's picture
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I read the whole thing...

The author makes many points that I can agree with... I must say that -- as someone who thinks we are in overshoot -- I was most interested in these two items in his wiki bio: 1) His retirement homes are in Wyoming and California, and 2) His children are David, Peter, Michael, and two more. I find both to be Exhibit A for why we are so screwed.

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Adblockers work

I use Adblock Plus and Ghostery (in Firefox). They work! Zerohedge complains about the ad blocker but its nag bar down the bottom of the page has a Dismiss button, which I push. No ads in Youtube either.

I wouldn't mind ads on websites if they weren't so blasted annoying. They pop up and crowd around and move and distract and are almost always totally irrelevant to me.

Some adblocked sites in return block my reading completely. If I really, really want to view that article, I can turn the blocker off. But usually I've found nothing so compelling, so I close the window and go elsewhere. Too bad for them.

One site whose ads I do not block is The Automatic Earth. Ilargi asked us not to block because the revenue really does help his thin margins, so I don't.

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Brave browser for Zerohedge

I haven't seen any intrusive ads on Zerohedge in years.  Try the Brave browser.  Privacy focused and blocks most ads by default.

Firefox with an adblock extension (Adblock plus) works well too. 

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Same here

FWIW, some of my favorite (open source) plugins for Firefox are uMatrix, UBlock Origin, and Privacy Badger.

Wendal's picture
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Adblocker for Android

I've installed the "Adblocker Browser" for Android and it seems to work great - no more ads on Zerohedge!

But I'd really prefer to keep using Chrome, where all my bookmarks are.

They seem to talk about an Adblocker add-in for Chrome - but I gather it's just for Chrome on a desktop.

The ideal for me would be an Adblocker add-in for Android Chrome, if such a thing exists. But I'll be damned if I can find it.

Thanks for the referral though!

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Bayer Loses Appeal Over Historic 'RoundUp' Cancer Lawsuit

Just saw this on Zerohedge: "Bayer Loses Appeal Over Historic 'RoundUp' Cancer Lawsuit" ...Good news Friday early!!

Having successfully, closed on its $66 billion purchase of the agrochemical company Monsanto in June, we suspect Germany's Bayer AG, is more than a little concerned now after failing  to persuade a judge to set aside a jury’s $289 million verdict in the first trial over allegations that its Roundup weed killer causes cancer.

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"Anencephalic smeglodytes" -- Love it!
Wendal wrote:

The anencephalic smeglodytes that bottom feed in the putrid toxic abyss of their comment sections are just the icing on the cake.

"Anencephalic smeglodyte" gets my vote for most impressive phraseology of the week.

I challenge each of us to find a way to insert the term into casual conversation today. I know I'll be trying to :)

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