Daily Digest

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Daily Digest 9/26 - How Banks Affect Family Size, Can Gold Act as a Safe Haven Again?

Friday, September 26, 2014, 10:21 AM

Economy

Dismantling Empires Through Devolution (jdargis)

Devolution—meaning the decentralization of power—is the geopolitical equivalent of the second law of thermodynamics: inexorable, universal entropy. Today’s nationalism and tribalism across Europe, Africa, and the Middle East represent the continued push for either greater autonomy within states or total independence from what some view as legacy colonial structures. Whether these movements are for devolution, federalism, or secession, they all to varying degrees advocate the same thing: greater self-rule.

U.S. Growth Quickest in Two and a Half Years on Business Spending, Exports (jdargis)

Second-quarter GDP was previously estimated to have advanced at a 4.2 percent rate. The economy contracted at a 2.1 percent pace in the first quarter.

The dollar extended gains against a basket of currencies on the report. U.S. stock index futures were little changed.

Ned Naylor-Leyland Suggests Media Overhanging an Exposé of Rigging in the Silver Markets (adam)

Despite sincere efforts by some, the regulators have managed their public awareness responsibilities somewhat awkwardly to say the least. And this is not incidental to their mission but paramount since they are public interest representatives in a publicly funded position. There is a general aloofness and high-handedness in this Administration that is not consistent with a healthy democratic process.

Can Gold Act as a Safe Haven Again? (Kevin J.)

PI Financial mining analyst Christos Doulis: “We've had a massive money printing exercise. The markets are running because there's so much money and the money has to go somewhere. The fact that central banks are buying gold tells me that gold—the currency between states and central banks—is still regarded as an important part of the reserve mix. While the demand for gold among general investors may have decreased during the last few years, the policy makers in the central banks are well aware of the seeds that have been sown in a fiat-currency race to the bottom.”

Companies’ Worst Hacking Threat May Be Their Own Workers (jdargis)

The FBI this week issued a warning to companies about a rise in hacking by current and former employees. Insider threats, both intentional and accidental, were cited by more than 70 percent of information security managers as their biggest concern in an April survey.

The workers often use cloud-storage services as well as personal e-mail accounts to transfer data, according to the Sept. 23 public notice by the FBI and Homeland Security Department. Sometimes they remotely access computers, the warning said.

America, the Plannable: How Banks Affect Family Size (jdargis)

In order to test this hypothesis, economists have over the years examined eras in which societies’ financial safety nets grew tauter—the idea being that if people were made to feel more financially secure, they’d feel less of a need to produce a bunch of children to rely on. The data in these scenarios don’t point to any one conclusion. For every trio of demographers arguing that the rise of financial institutions could explain a decline in fertility in Prussia between 1875 and 1910, there’s another researcher observing that even though England’s financial networks began to ossify in the 16th century, the expected drop in fertility didn’t arrive until centuries later.

How Rising Interest Rates Could Spell the End of the U.S. Energy Boom (James S.)

The winding down of extraordinary measures taken by the U.S. Federal Reserve to ameliorate the effects of the financial crisis could reverberate through energy markets.

The Fed has kept short-term interest rates near zero for several years, a target that the institution hoped would spur lending and kick start the moribund economy in 2009. With job growth anemic for half a decade after the crash, the Fed has maintained its monetary stimulus right up until today.

Japanese conceptual artists to offer soup made from Fukushima vegetables at Frieze Art Fair (jdargis)

Ei Arakawa, an established Japanese contemporary artist, and his brother Tomoo, who ran a chain of tanning salons, have assured Frieze organisers that the soup is safe to eat. They say the vegetables have been cleared by the Japanese Farmers’ Association.

The pair, who are from Iwaki in Fukushima, will fly their mother over from Japan to make the noodle soup each day during the fair.

Gold & Silver

Click to read the PM Daily Market Commentary: 9/24/14

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."

4 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4165
N.J. Panel Says Full Pension Fix Would Cost $12,000 Per Home

Headlines:

  1. Blackout Hits Parts of Capital, Western Venezuela
  2. Scarcity leads Venezuela's beauty-queen culture to do more with less
  3. US, China, Europe nearing 'Minsky moment': Economist
  4. Russia Risks Recession as Oil Drop Seen Squeezing Budget
  5. N.J. Panel Says Full Pension Fix Would Cost $12,000 Per Home
  6. Billions and Counting: Mounting Cost of US' War on Islamic State
  7. 104-Year-Old Portal Bridge Presents $900 Million Problem for Rail Commuters
  8. Russia's Ruble Hits Record Low Against U.S. Dollar
  9. Catalan Finance Minister rejects €3.3 billion budget cut imposed by Spanish Government in 2015
  10. Saudi Could See Budget Deficit Next Year – IMF
  11. Ukrainian bailout to cost $100 billion — American analyst
  12. Russia Is Ready to Rein In the Ratings Agencies

===========================================

(Repost from late yesterday)

"The U.S. public pension gap has tripled to at least $2 trillion in less than a decade, Moody's Investors Service said in a report on Thursday."

"A generous bailout from the federal government kept the bankers afloat. And since then, most of the denizens of the Street have come out just fine.

Yet more than 4 million American families so far have lost their homes. They were caught in the downdraft of the Street’s gambling excesses. They had no idea the housing bubble would burst and didn’t read the fine print in the mortgages the bankers sold them.

But they weren’t allowed to declare bankruptcy and try to keep their homes."

" A commission convened by Gov. Chris Christie to look into the health benefits and pension liabilities for public employees reported Thursday that the costs threaten to put a $90 billion drain on New Jersey’s future state budgets."

"Crude oil would cost at least $150 a barrel due to supply disruptions in the Middle East and North Africa were it not for rising production in North Dakota and Texas, U.S. Energy Information Administration (EIA) chief Adam Sieminski said in an interview on Wednesday."

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Jump'n Ship.

First Holder and now Gross?

Looks like yesterdays post was in just in time.

Riddle me this riddle- Why would a 70 year old multi-millionaire want to do anything at all? Unless he were completely unbalanced, of cause.

Dr Iain McGilchrist's insight is right, the herd is unwell. This is an evolutionary event. A winnowing, if you will.

KugsCheese's picture
KugsCheese
Status: Diamond Member (Offline)
Joined: Jan 2 2010
Posts: 1449
Arthur Robey wrote: First
Arthur Robey wrote:

First Holder and now Gross?

Looks like yesterdays post was in just in time.

Riddle me this riddle- Why would a 70 year old multi-millionaire want to do anything at all? Unless he were completely unbalanced, of cause.

Dr Iain McGilchrist's insight is right, the herd is unwell. This is an evolutionary event. A winnowing, if you will.

Gross want to get his mojo back.  Should be interesting to see if his statements become more negative on the economy.

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Water's Little Secret.

Water and sunlight can make a battery.

Please leave your hat, coat and paradigms with the concierge.

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