Daily Digest

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Daily Digest 6/13 - The Era Of Dissolution, Is Deutsche Bank The Next Lehman?

Saturday, June 13, 2015, 11:04 AM

Economy

The Era Of Dissolution (pinecarr)

So we have the people for whom collapse is a means of claiming unearned power, the people for whom it’s a blank screen on which to project an assortment of self-regarding fantasies, and the people for whom it’s an excuse to do nothing in the face of a challenging future. All three of those are popular gimmicks with an extremely long track record, and they’ll doubtless all see plenty of use millennia after industrial civilization has taken its place in the list of failed civilizations. The only problem with them is that they don’t happen to provide any useful guidance for those of us who have noticed that collapse isn’t merely a rhetorical gimmick meant to get emotional reactions—that it’s something that actually happens, to actual civilizations, and that it’s already happening to ours.

Big Change Yields Small Change As Zimbabweans Turn In Their Trillions (Merle2)

Reuters columnist Edward Hadas adds: "Zimbabwe's mirage-quadrillionaires are witnesses to its monetary disaster. Harare is the new Weimar. Just as Germany created money to pay for reparations after World War One, Zimbabwe President Robert Mugabe used newly created cash to spend well beyond the government's means."

Anyone have change for a quadrillion dollar bill? (jdargis)

In most corners of the world, deflation is currently a far bigger concern than inflation, let alone hyperinflation. The typical central banker has to worry about having too little power to influence wages and prices, not too much. Governments do have the capacity to create Zimbabwe-style hyperinflation through deficit spending, but that requires far more excess than any halfway decent political system will allow.

Is Deutsche Bank The Next Lehman? (jennifersam07, pinecarr)

Probably the first public indication that things were heading downhill for Lehman wasn’t until June 9th, 2008, when Fitch Ratings cut Lehman’s rating to AA-minus, outlook negative.

The “negative outlook” indicates that another further downgrade is likely. In this particular case, it was the understatement of all time.

Experts Fault South Korean Response to MERS Outbreak (jdargis)

Mr. Fukuda said the panel had found no evidence to indicate that MERS was spreading in the broader population. “However, continued monitoring for this possibility is critical throughout the entire outbreak,” he said. “Now, because the outbreak has been large and is complex, more cases should be anticipated.”

Gerald Celente: Decoding current world events and his take on Bilderberg (Herman J.)

Gerald Celente is a pioneer trend strategist and founder of The Trends Research Institute. He is the author of the national bestseller Trends 2000: How to Prepare for and Profit from the Changes of the 21st Century and publisher of the internationally circulated Trends Journal newsletter. Gerald Celente is a political atheist. Unencumbered by political dogma, rigid ideology or conventional wisdom, Celente, whose motto is “think for yourself,” observes and analyzes the current events forming future trends for what they are – not for the way he wants them to be.

Can America Lead Again? (jdargis)

Others blame the current administration, with equally good cause. President Obama’s failure to defend his own “red line” in Syria and his admitted lack of strategy against ISIS have left many wondering whether he’s interested in the Middle East at all. The same problem exists with regard to Russia, where there is a strange split between NATO military leaders, who are publicly very blunt in their assessment of Russian maneuvers over the Baltic Sea and Scandinavia, as well as in Ukraine, and the strangely sanguine White House. While Gen. Philip M. Breedlove, the supreme allied commander for Europe, warns of “revanchist Russia,” Obama lightly dismisses Russia as a weak “regional power” that poses no larger threats.

As Fish Stocks Dwindle, So Do The Livelihoods Of Greek Fishermen (Merle2)

Michalis Kastis, another Leros fisherman, docks his caique after three days at sea with his Dutch wife, Tinika. They caught just one red mullet. "The catch is not enough to pay a crew," he says, laughing. "That's why I go with my wife."

Kastis blames large commercial trawlers for scooping most of the fish out of the sea. He calls them the "bulldozers of the sea."

Gold & Silver

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