Daily Digest

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Daily Digest 6/10 - CA Changes Traffic Ticket Rules, Greek Failure Would End Eurozone

Wednesday, June 10, 2015, 9:50 AM

Economy

Voices: In Atlantic City, the gold's turning to sand

The city, facing a $400 million budget deficit and the loss of a large part of its tax base, has been placed under a state fiscal monitor and forced to lay off employees, including 80% of its parks and recreation department.

Illinois budget cuts blamed for spike in Chicago murder rate

Chicago has already passed the 1,000 mark for shooting victims this year, the Chicago Tribune reported, and the number of homicides so far this year is 18 percent higher than in the same period last year — a level of violence that rivals 2012, when gun violence in the city attracted international attention.

California changes rules on traffic ticket fines

Traffic courts in some counties — including Del Norte, Fresno, Mendocino, Tuolumne, Mariposa, Tulare, Madera, and Shasta — have required drivers who receive traffic tickets to pay fines before they can appear in court to contest the tickets. Civil rights groups argued that making people pay for their day in court violates constitutional due process.

Bad loans at Italian banks rise to 192 bln euros in April

Non-performing loans at Italian banks rose to 191.6 billion euros ($216.6 billion) in April, central bank data showed on Tuesday, at a time when the government is studying ways to help domestic lenders offload their soured loans.

Inflation costs cash savers £80 billion in last five years (UK)

The average return paid on cash savings accounts is currently 0.97% and has stayed close to this level since 2009. But inflation as measured by the Retail Prices Index (RPI) between 2010 and 2014 was 19.8%.

State doesn’t have to pay $1.57 billion on pensions, NJ’s top court rules

The state’s unfunded pension liability, $37 billion in 2013, ballooned to more than $83 billion in 2014, the state Pension and Health Benefit Study Commission said in a February report. There are about 800,000 total beneficiaries, including active and retired members and their families in the pension system, according to the state Department of Treasury.

Joe Hockey says nobody would be buying if Sydney was unaffordable (Australia)

Sydney's median house price is forecast to reach $1 million by Christmas.

Greek failure would mean eurozone end – Tsipras

“I think it’s obvious. It would be the beginning of the end of the eurozone. If the European political leadership cannot handle a problem like that of Greece, which accounts for 2 percent of its economy, what would the reaction of the markets be to countries facing much larger problems, such as Spain or Italy which has two trillion of public debt?,” Greek Prime Minister Alexis Tsipras told Corriere Della Sera Tuesday.

ECB's balance sheet rises to 2.428 trillion euros

The ECB is rolling out a scheme to buy government bonds and other assets known as "quantitative easing" to pump 1 trillion euros into the economy in order to lift inflation towards its target of just below 2 percent.

The $6.5 Trillion China Rally That’s Making Stock-Market History

As China’s boom surpasses the headiest days of the U.S. Internet bubble, signs of excess are cropping up everywhere. Mainland speculators have borrowed a record $348 billion to bet on further gains, novice investors are piling into shares at an unprecedented pace and price-to-earnings ratios have climbed to the highest levels in five years. The economy, meanwhile, is mired in its weakest expansion since 1990.

Pensions in Greece Feel the Pinch of Debt Negotiations

Greece’s big creditors — other eurozone countries, the International Monetary Fund and the European Central Bank — have done little to solve the problem. Instead, they have imposed deep cutbacks on pensions, as much as 48 percent in some cases, and further weakened the pension funds by, among other measures, pressing them to accept huge losses as part of the country’s debt write-down.

China's soft May inflation increases calls for fiscal stimulus

"We think the reflationary pressure in China is still remote and the CPI is likely to stay low," wrote Xie Dongming, economist at OCBC Bank, saying this offered ample room for further adjustments to interest rates and bank reserve requirements.

Gold & Silver

Click to read the PM Daily Market Commentary: 6/9/15

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."

15 Comments

saxplayer00o1's picture
saxplayer00o1
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SingleSpeak's picture
SingleSpeak
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Posts: 508
I wonder why Atlantic City is failing...

not.

When I traveled to the east coast for the Rowe conference, I thought that I'd check out the sights a little and visit some friends. So one place that was fairly close to my destination was Atlantic City. I pulled into town about 11:00 pm and drove through the city. It was a substantial let down, since I had visions of a miniature Las Vegas dancing in my head. AC seemed a little more like a ghetto with a few casinos grinding it out here and there. So I pulled into Harrah's and asked the clerk how much a room would be for the night. "$60" was her response. That sounded reasonable so I started to check in. Then she said, "With taxes and fees that comes to $105." I said, "Seems a little high for taxes, I don't think I'll be staying here." So I left Atlantic City and they didn't get the $100 that I was going to lose playing blackjack (or the $60 for the room).

SS

pat the rat's picture
pat the rat
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Posts: 125
greek debt

The  greeks needed to pay down there debt when times are good, this is a slow motion train wreck in  the making. There may be no way to fix it ,more debt is not the answer. 

thc0655's picture
thc0655
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Atlantic City demise long predicted

During the early and mid 1970's the legalization of gambling in Atlantic City was opposed by political conservatives and religious groups who predicted exactly what has happened: the money that would come to A/C would benefit mostly the wealthy and the poor and working classes would be mostly left out, while the general moral and criminal tone of the community would decline.  The opposition included people who said it just wouldn't work mathematically.  Lo and behold, all the dire predictions are currently being fulfilled.  But, hey, the politicians, moguls, mobsters and prostitutes had a nice run, while it lasted.

For example:

http://onlinelibrary.wiley.com/doi/10.1111/j.1467-9906.1982.tb00071.x/abstract

The legalization of casino gambling in 1976 by approval of the voters of New Jersey has attracted nearly $2.0 billion of private investment capital to Atlantic City. The opening of the first casino. Resorts International, was eagerly awaited as a step toward revitalizing the city. Four years and eight casinos later, it is quite apparent that the use of the casino gambling industry toward this end suffers from many of the same inadequacies as past renewal programs.

As many studies have concluded, urban policies of the past failed to spread benefits to the urban poor and lower-income population (e.g., see Friedan and Kaplan, 1975; Weiss, 1980). The history of Atlantic City's decline offers a case study of how federal programs were unsuccessful in both addressing the causes of decline and aiding those most adversely affected by it. The evidence to date suggests that the direction of urban redevelopment in Atlantic City is presently following the pattern established by past programs. The legalization of casino gambling has spread its benefits unevenly, benefitting the already well-off while excluding the poor and elderly of the city.

 

Time2help's picture
Time2help
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Posts: 2890
Ban Plate Techtonics

Down to my last credit card and going to be happy when that one's gone forever. Chip it?  Fixed in 0.5 seconds with a hammer and punch. Don't want to accept it? Fine, I'll take my business elsewhere.

In real news...look outside people. It's really starting to heat up. 

 

saxplayer00o1's picture
saxplayer00o1
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Bank of Korea cuts interest rate amid MERS fears

Bank of Korea cuts interest rate amid MERS fears

Arthur Robey's picture
Arthur Robey
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I thought that I would just

I thought that I would just drop this in your lap.

 
Date: Monday, August 10, 2009, 3:58 AM
 
This article went viral and received over 300 million reads. It shut out Google for the first six thousand hits, got translated into every language, triggered policy changes in several nations and made it to publications from Pub Med to several major religions. This is the number one most read article this site ever released, and it remains true to this day though it has been superseded by a following report. I suggest you also readthis article about bacteriophages which is the new direction they are taking destructive vaccines because the damage is more precise with this new method.
 
http://www.jimstonefreelance.com/squalene.html
Time2help's picture
Time2help
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Posts: 2890
Tired...

...of evil f****** people.

Satanic Reptilian NWO EUSSR Mind Control Paid Troll's picture
Satanic Reptili...
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Posts: 331
If they are destroying

If they are destroying people's intelligence using vaccines, as per article, how come IQ is going up as per Flynn effect, and how come they find people to make things like CERN, and Curiosity Rover and graphene and etc etc etc ?

jonesb.mta's picture
jonesb.mta
Status: Silver Member (Offline)
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Posts: 126
Bloody Police Beatings

Take the settlement for police misconduct from the police department's retirement fund and you'll see police beatings go down drastically. This isn't my idea but it's the best idea I've seen for reducing police misconduct.

Arthur Robey's picture
Arthur Robey
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Posts: 3936
Gnats

how come they find people to make things like CERN, and Curiosity Rover and graphene and etc etc etc ?

That was the salient point of the article. It is to create an untermenschen. People who cannot follow the bouncing ball.

Only some people get the harmless vaccine. 

Things are beginning to fall into place. Do you ever get the impression that you have lost the attention of the person standing in front of you? People have the attention span of gnats these days.

As for the Flynn effect, that lends support to Sheldrake's Morphic Fields. 

jennifersam07's picture
jennifersam07
Status: Silver Member (Offline)
Joined: Oct 14 2012
Posts: 113
re: destroying intelligence

If the pharm/industrial complex is destroying people's brains, it's through astounding arrogance, incompetence and bureaucracy and not by intent. If you have had any encounter with healthcare recently you'll know it's populated by greedy ignorant bureaucrats, and caring, but powerless medical providers, not by evil people trying to destroy the world. 

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Reply to Jennifer

If such a program were underway, it would not be broadcast. There would be no advantage telling the medical establishment anything. They would be acting in good faith.

We have a population problem. And now we know the prefered solution. It all makes perfectly good sense, if somewhat ruthless.

Infertility is more morally sound than starvation.

KugsCheese's picture
KugsCheese
Status: Diamond Member (Offline)
Joined: Jan 2 2010
Posts: 1469
thc0655 wrote: During the
thc0655 wrote:

During the early and mid 1970's the legalization of gambling in Atlantic City was opposed by political conservatives and religious groups who predicted exactly what has happened: the money that would come to A/C would benefit mostly the wealthy and the poor and working classes would be mostly left out, while the general moral and criminal tone of the community would decline.  The opposition included people who said it just wouldn't work mathematically.  Lo and behold, all the dire predictions are currently being fulfilled.  But, hey, the politicians, moguls, mobsters and prostitutes had a nice run, while it lasted.

For example:

http://onlinelibrary.wiley.com/doi/10.1111/j.1467-9906.1982.tb00071.x/abstract

The legalization of casino gambling in 1976 by approval of the voters of New Jersey has attracted nearly $2.0 billion of private investment capital to Atlantic City. The opening of the first casino. Resorts International, was eagerly awaited as a step toward revitalizing the city. Four years and eight casinos later, it is quite apparent that the use of the casino gambling industry toward this end suffers from many of the same inadequacies as past renewal programs.

As many studies have concluded, urban policies of the past failed to spread benefits to the urban poor and lower-income population (e.g., see Friedan and Kaplan, 1975; Weiss, 1980). The history of Atlantic City's decline offers a case study of how federal programs were unsuccessful in both addressing the causes of decline and aiding those most adversely affected by it. The evidence to date suggests that the direction of urban redevelopment in Atlantic City is presently following the pattern established by past programs. The legalization of casino gambling has spread its benefits unevenly, benefitting the already well-off while excluding the poor and elderly of the city.

 

That's right.  Gambling is an addiction for most.  It was shunned when I was young and now the Sate supports it.  Go figure.  The savings that could be used for investment are gambled away to the fixed House run by cronies who bid up asset prices only.  A MASSIVE crash is coming.  

TechGuy's picture
TechGuy
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Joined: Oct 13 2008
Posts: 453
1. graphene was an

1. graphene was an accidential discovery. Its not hard to make: coat a copper plate with sugar water, than bake in a autoclave with an inert amosphere. and  you made graphene

2. Cern, Curiosity is more about spending money. Much of the work at cern is trying to proof theories developed close to 100 years ago.

The Average IQ appears to be declining. although there will also been some very smart people as well as extremely stupid people. Most people tend to send all of thier time distracted from the real world. The watch TV, sports and eat excessive amounts of junk food. They simple refuse to excerise thier brain needed to develop intellegence. If you work out often, and exercise muscles, in most circumstances, you will become stronger. The same applies to intelligence.  I suspect a lot of this is contributed to media (TV & sports) since americans devote considerable more time to watching TV and sports than learning.

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