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Daily Digest 2/12 - UK Heading For Deflation, Tesla Posts Losses In Q4

Thursday, February 12, 2015, 11:10 AM


Financial Markets: Pinocchio’s Enchanted Island (Jonathan D.)

As long as this market is manipulated, no technical analysis will hit the target. We have been living in a new era of “fantasy finance” since the Fed officially intervened massively, in 2009, and since the non-official control of the gold price, in 2013. Investors are now thinking that everything is possible: stocks rising into infinity, oil being given to us by producers and refiners almost for free (it sells cheaper than mineral water), countries that can borrow at historically ri-di-cu-lous rates, and, no later than just a few days ago, a bank in Denmark that pays people to contract a real estate loan (negative rates).

UK heading for deflation says Bank of England (locksmithuk)

He said that around two thirds of the shortfall between actual inflation and the Bank's 2pc target was down to a "sharp fall in food and energy prices", considered "good deflation". The remainder, he said, was down to subdued inflationary pressures domestically, or "bad deflation".

Attention college students: You may have earned a degree without knowing it (jdargis)

Recently, one of the largest community college districts in the nation signed on to the experiment. Arizona’s Maricopa community colleges, which enroll more than 265,000 students a year, have received a half-million-dollar grant to track students who’ve moved on, and to automatically give them an associate’s degree if they’ve completed enough coursework.

AP Exclusive: 20,000 foreign fighters flock to Syria, Iraq (jdargis)

As for foreign fighters, officials acknowledge it has been hard to track the Americans and Europeans who have made it to Syria, where the Islamic State group is the dominant force trying to overthrow the government of President Bashar Assad. The U.S. Embassy in Syria is closed, and the CIA has no permanent presence on the ground.

Tesla’s Q4 results show lots of cars and lots of losses (jdargis)

Yet despite overflowing order books, the company still lost $108 million in Q4, bringing total 2014 losses to $294 million. In part, this was a consequence of international sales hampered by a strong dollar and delays to the AWD P85D. Cheap oil prices probably haven’t helped either; with gas cheaper than it has been in several years, Americans appear to be flooding back to SUVs and shunning hybrids and EVs.

Oil Searching For A Bottom As Union Threatens More Walkouts (James S.)

The strike at US refineries got a bit bigger over the weekend – all amid the most volatile, and now downward, price swings seen in the last six years. Investors have yet to lose hope in a sustainable rebound, but another prolonged fall may be looming ahead. The United Steelworkers union (USW) and Royal Dutch Shell – big oil’s lead representative in the matter – failed to reach an agreement on wages, safety measures, and benefits last week.

U.S. Farm Income Set to Drop 22 Percent (Richard B.)

Boom times are ending for U.S. farmers, who are tightening their belts as low crop prices and rising costs erode incomes that peaked earlier this decade. Decreasing profits is also eroding the value of land, Farmers National Co., which manages 2.1 million acres of farmland in 24 states, said last week.

Expenses for this year including seed, fertilizer and animal feed will be $332 billion, up 0.5 percent from 2014. Total farm assets are seen rising 0.4 percent to $3 trillion as total farm debt gains 3.1 percent to $327.4 billion.

Biomass plus carbon capture yields negative-emission energy (jdargis)

Because carbon capture allows biomass-fueled plants to have negative emissions, it largely serves to increase the amount of fossil fuel generation allowed on the grid. In fact, the authors found that if the electricity generated by biomass were simply dumped instead of used, it would only increase costs by six percent.

Gold & Silver

Click to read the PM Daily Market Commentary: 2/11/15

Provided daily by the Peak Prosperity Gold & Silver Group

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