Daily Digest

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Daily Digest 12/13 - Philadelphia Extorts Itself, Will Self-Driving Cars Ever Be Safe Enough?

Thursday, December 13, 2018, 11:09 AM

Economy

Criminal Justice Bill Will Go Up for a Vote, McConnell Says (tmn)

Broadly speaking, the latest bill pairs investments in anti-recidivism programs in federal prisons and an expansion of early release credits with changes to sentencing laws. Its authors have worked intently on a set of yet-to-be-released revisions in recent days to accommodate wavering Republicans. Still, the bill is expected to have an impact on thousands of current federal inmates and future offenders. State laws and prisons will not be affected.

2018 is worst year on record for gun violence in schools, data shows (tmn)

“This is beyond unacceptable,” said Nicole Hockley, co-founder and managing director of Sandy Hook Promise. “It is inexcusable. Everyone has the power to stop violence before it starts, and we want to arm as many people as possible with the knowledge of how to keep their schools and communities safe.”

Michael Pento tells Max Keiser what the inverted yield curve is really signalling (Herman J.)

Max interviews Michael Pento of PentoPort.com about the latest in markets and yield curves: does the inverted yield curve even mean anything?

Philadelphia Extorts Itself – Loses Tens Of Millions On TWO Police HQ Buildings (thc0655)

Though the city has already spent $50 million on the renovation, completing the project and finishing out the spaces for the police could easily take $100 million more, according to original estimates. The newspaper tower, now owned by developer Bart Blatstein, would also be expensive to retrofit, especially because modern policing requires tremendous amounts of technology and security. The Nutter-era plan had also envisioned that the city’s medical examiner, morgue, and laboratories would share the space with the police.

Merk Research: U.S. Business Cycle Chart Book December 2018 (Axel M.)

Analysis: Actual GDP is more than potential GDP (as estimated by the CBO), which suggests the expansion may be in its final stages.

Chart Framework: I’m currently incrementally negative on the business cycle outlook medium/longer term based on this picture, I’d get incrementally positive medium/longer term around -2.00 on the chart, which would likely only be during or after a recession.

The Likelihood of a Cyber Attack Compared (Jessica S.)

One likely reason that people don’t take the precaution of protecting their IT systems is that many believe an attack is one of those things that just won’t happen to them. So, we decided to take a look at the likelihood of other “won’t happen to me” events, to paint a clear picture of just how common a cyber breach really is.

Will Self-Driving Cars Ever Be Safe Enough? (Michael S.)

Arizona and other states don’t seem to be tracking the numbers on self-driving car miles driven, fleet vehicles, and crashes; or at least making them public like California. Waymo has built up a fleet of 400 test vehicles in Arizona, but California still gets more of the attention. And overseas companies like Bosch, Baidu, Didi, and Changan, have received permits for testing in California. The more the AV test fleets grow, the greater the likelihood of crashes increases.

Warming in Arctic Raises Fears of a ‘Rapid Unraveling’ of the Region (tmn)

The rising air temperatures are having profound effects on sea ice, and on life on land and in the ocean, scientists said. The impacts can be felt far beyond the region, especially since the changing Arctic climate may be influencing extreme weather events around the world.

Gold & Silver

Click to read the PM Daily Market Commentary: 12/12/18

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."

9 Comments

thc0655's picture
thc0655
Status: Diamond Member (Online)
Joined: Apr 27 2010
Posts: 1786
Terrorism? Vandalism? Russians? False flag?

Adolescent hijinks? Rumblings of Civil War 2.0 (if so, committed by the Left or the Right?). Radical environmentalism (eg. E.L.F.)? Planted by the company to deflect blame?

I'm convinced modern people vastly underestimate the "utility" and power of simple fire as a weapon.

https://www.cnn.com/2018/12/13/us/pge-camp-fire-report-outages/index.html

(CNN) — A California utility company said its crews found a damaged transmission tower and holes in a power pole at separate locations near the site where the Camp Fire started. 

More than a month after the deadliest and most destructive wildfire in the state's history broke out, Pacific Gas & Electric Co. released a more detailed account of outages it experienced that day.

In a letter to the California Public Utilities Commission, PG&E said one of its employees called 911 on November 8 -- the day the deadly wildfire began -- after spotting flames in the vicinity of a high-voltage tower near the town of Pulga in Butte County.

That fire was reported almost 15 minutes after the utility experienced a transmission line outage at the same location, the company said. It was also around the same time the Camp Fire broke out.

The electric utility had disclosed in a regulatory filing last month that it "experienced an outage" on a transmission line in Butte County about 15 minutes before the wildfire began but had not released additional details.

PG&E said in its Tuesday letter that inspectors later discovered that a hook connecting part of the transmission line and the transmission tower was broken. They also found a flash mark on the tower.

The company also detailed a second outage at another location. That incident was reported a few miles away from the first outage and about 15 minutes after the wildfire started. 

When crews went to check the outage a day later, the letter states, they "observed that the pole and other equipment was on the ground with bullets and bullet holes at the break point of the pole and on the equipment."

Meredith E. Allen, PG&E's senior director of regulatory relations, explained that details about the incidents are preliminary and they remain under investigation.

 

saxplayer00o1's picture
saxplayer00o1
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Posts: 4293
Macron's concessions add fuel to Italy's debt fire

Macron's concessions add fuel to Italy's debt fire

The Hill-17 hours ago
Before doing so, they might want to consider that far from reducing the chances that Italy will suffer another round of its sovereign debt crisis, recent French ...

Temporary French deficit overshoot tolerable: EU's Moscovici

Reuters-5 hours ago
France is expected to break the deficit ceiling after President Emmanuel Macron made concessions to anti-government protesters, blowing a 10 billion euro ...

Brazil central bank holds rates at all-time low, as expected

Reuters-18 hours ago
BRASILIA/SAO PAULO, Dec 12 (Reuters) - The Brazilian central bank on Wednesday held interest rates at an all-time low, as widely expected, and hinted that it ...

Short-Covering Japanese Bond Traders Bring Zero Yields Back Into ...

Bloomberg-15 hours ago
Rising demand for haven assets is threatening to push Japan's benchmark yield below zero percent and quash the likelihood of further central bank policy ...

ECB to keep buying debt well into future

FRANCE 24-6 hours ago
The European Central Bank is widely expected to end Thursday the "quantitative easing" (QE) programme that has seen it pump 2.6 trillion euros ($3.0 trillion) ...

Fed piles up $66 billion in paper losses as it faces Trump wrath

New Haven Register-22 hours ago
"A central bank with a negative net worth matters not in theory,'' former Fed Governor Kevin Warsh said in an email. "But in practice, it runs the risk of chipping ...

 

thc0655's picture
thc0655
Status: Diamond Member (Online)
Joined: Apr 27 2010
Posts: 1786
Weaponized Ebola

http://raconteurreport.blogspot.com/2018/12/last-thoughts-for-now-nightmare.html?m=1

                                  < photo of a crowded big city sidewalk >

Imagine Team Mo has sent 1 (or 19, or 50, or 200) guys infected with Ebola here. 

They'll be asymptomatic for 7-20 days, on average, including at any cursory 

intake screening. They could come from 40+ countries before arrival. 

So, pick them out of the above crowd. You have a 1 

(or 19, or 50, or 200) in 300M chance...

 

I expected Team Mo to take that approach last time.



Sooner or later, that penny will drop.



Clancy's template for that was in print worldwide 22 years ago, so it's not like I'm giving anyone any ideas.



He novelized aerosol delivery, which even in the book failed to fully work.



But taking things the next step and doing it would be easier without that bit of literary cleverness. If they simply infected people and sent them here while freshly infected and asymptomatic, with orders to burn their papers, hide their identities, and circulate until unable, a dozen such not-so-smart bombs who subsequently founded outbreak clusters solely at malls and amusement parks would completely overwhelm any ability to deal with the disease short of bringing all of American society to a grinding halt for months. They could do this indefinitely, and vector it in from 40 countries tomorrow, and we wouldn't even know we were under attack for a month or more.



Getting a handle on the disease - anywhere - depends absolutely on the idea that people want to help track their contacts. People committed to hide and lie about where they've been and where they've merrily sown microbial Hell screw that pooch in a gang-bang. In about 0.2 seconds.



And also noted by Clancy last century, "You can't expect them to stay stupid forever."



What some of the geniusii hereabouts fail to comprehend is not the direct problem of Ebola outbreak(s) here, horrific as that alone would be.



The true problem is the secondary and tertiary effects when a growing and absolutely non-zero portion of Americans, notably truck and rail delivery chains, and first responders from police, fire, EMS and medical personnel, decide "Fuck that, I'm staying home starting tomorrow, until further notice, because my paycheck isn't a death pact." Like. They. WILL.



Three days later we start running out of things like gasoline and food resupply (not everywhere, but it doesn't take much to much to go from concern to stupid to panic), and it snowballs from there.

Perception is reality, and America closed for months is 9/11 to the tenth power. They got 19 hijackers here, no problem.



19 @$$holes infected with Ebola and set loose would probably top that tally eventually, but financially, they could crash the Western world, with 19 injections, 19 one-way plane tickets, and a few weeks' spending money and tourist itineraries, and whilst breaking exactly no US laws other than the original conspiracy.



There's also no reason to stop at 19. Doing 50 or 200 would be little more complicated, and they could come in waves, a week apart.



Pleasant dreams.

 

HappyCamper's picture
HappyCamper
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Posts: 38
Ebola

 

Start at 2 minutes on second video. Concerns are this outbreak is in an area close to borders, increasing risk for transmission.

PBS reports the area is a ongoing war zone.

ezlxq1949's picture
ezlxq1949
Status: Gold Member (Offline)
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Posts: 325
Try "simple" mental derangement

thc0655 wrote:

Terrorism? Vandalism? Russians? False flag?

In 2009 a man in Victoria deliberately lit a bushfire which killed 11 people. This was part of the Black Saturday fires, perhaps the worst in our history. The man was eventually charged with 10 counts and sentenced to almost 18 years. There is opinion here that burning at the stake would be better justice for this kind of offence.

According to Dr Read, of the 4,500 fires that occur in Australia each year, 40 per cent are deliberately lit. However, just 1 per cent of arsonists are detected, which makes it extremely difficult to profile.

...

Dr Read says the only way we can stop [such people] from continuing to light fires is for the whole community to be involved in identifying and reporting potential arsonists.

“We already know that over the next four years we’re going to have a heatwave globally,” Dr Read says.

“The more dangerous it becomes, the greater likelihood that when a match is lit, it’ll take. And so that human element becomes all the more important.”

Source

(By way of comment, the term "Black Friday" is seeping in here but it is not welcome. Look up "Black Friday 1939" to see why.)

sand_puppy's picture
sand_puppy
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Posts: 2114
Google CEO testifies: $4,700 spent by Russians to meddle

You can't make this stuff up.

"Does Google now know the full extent to which its online platforms were exploited by Russian actors in the election two years ago?" Rep. Jerry Nadler, a Democrat from New York and ranking member of the House Judiciary Committee, asked the search engine's chief executive during Tuesday's hearing.

​"We have - we undertook a very thorough investigation, and, in 2016, we now know that there were two main ad accounts linked to Russia which advertised on Google for about $4,700 in advertising," Pichai responded.

"A total of $4,700?" Nadler asked to confirm.

"That's right," the Google executive replied.

HappyCamper's picture
HappyCamper
Status: Bronze Member (Offline)
Joined: Apr 16 2018
Posts: 38
Have a Good weekend :-)

davefairtex's picture
davefairtex
Status: Diamond Member (Offline)
Joined: Sep 3 2008
Posts: 5863
weaponized ebola

Well its an unpleasant thought, but the chances are, unlike a plane directed at a specific building in one single location, weaponized ebola would end up infecting the entire world, including the areas that our terrorist-candidates come from.

And as our enthusiastic nurse points out quite correctly, these people aren't stupid.  Most likely, they would not choose to kill off their entire society just to punish us.  Sure, selected people are willing to blow themselves up for the cause, but even suicide bombers aren't into throwing their own mothers and children onto the bonfire.  They see their act as sacrificing themselves in service to their friends and families.

Its really not the same thing as throwing their entire society and culture onto the bonfire right along with us.

So I'm calling "I don't think so" on this scenario.

 

saxplayer00o1's picture
saxplayer00o1
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Joined: Jul 30 2009
Posts: 4293
Debt Worldwide Hits Record $184 Trillion, or $86000 Per Person

Debt Worldwide Hits Record $184 Trillion, or $86000 Per Person

Bloomberg-21 hours ago
Debt Worldwide Hits Record $184 Trillion, or $86,000 Per Person ... Global debt hit a record $184 trillion last year, equivalent to more than $86,000 per person ...

Liquidity Fears Have the Likes of Pimco Sheltering in Credit Swaps

Bloomberg-22 hours ago

Credit risks are growing global because central banks are tightening monetary conditions and ending years of easy money that boosted corporate bonds almost ..

Japanese Banks Fueled the US Leveraged-Loan Boom, UBS Says

Bloomberg-7 hours ago
The size of the leveraged loan market has ballooned to $1.1 trillion from $682 ... risky loans outstanding, at $794 billion, than risky bond debt at $750 billion.

US commercial, multifamily mortgage debt hits new high in Q3

Xinhua-19 hours ago
Commercial and multifamily debt outstanding in the United States reached 3.32 trillion U.S. dollars in the third quarter, surpassing the previous record of 3.27 ...

Japan's fiscal 2019 budget draft to total around $894 billion: sources

Reuters-6 hours ago
Prime Minister Shinzo Abe's government will issue around 32.7 trillion yen in new ... Japan's debt burden is the worst among major countries at more than twice ...

Canadians' household debt burden creeps higher

National Post-1 hour ago
In other words, Canadians owed nearly $1.78 in credit market debt, which ... quarter as households borrowed $18.3 billion, down from $20.0 billion in the ...

US budget deficit hits record $204.9 billion for November

WBRC-20 hours ago
WASHINGTON (AP) — The federal budget deficit surged to a record for the month of November of $204.9 billion, but a big part of the increase reflected a ...

Oregon lawmakers get a taste of possible tax hikes in 2019

OregonLive.com-1 hour ago
... in the Oregon Legislature are gearing up to raise billions of dollars in taxes next year to boost school spending and cover ballooning public pension costs.
 

 

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