Daily Digest

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Daily Digest 7/5 - Greek Referendum Voting Begins, Solar Plane Sets Record

Sunday, July 5, 2015, 12:11 PM

Economy

Confusion Remains as Voting Begins in Greek Referendum (jdargis)

After five years in which unemployment soared and the country’s economy contracted by 25 percent, many said that a no vote was at least a vote for hope, the possibility of a new deal, rather than following the mandates of creditors who had failed to set Greece on a course to recovery.

As Greece votes, here’s everything you need to know about the nation’s crisis (jdargis)

Syriza, the leftist party that soared to victory on an anti-austerity message, is betting that Greeks will reject Europe's demands, giving Greece either a stronger hand at the negotiating table, or, if not that, a pathway to shed its debt and reclaim its economy. It's a gamble that could shape the economy of this nation of 11 million for more than a generation.

China share slump: Dealers to spend $20bn to halt slide (jdargis)

The Chinese stock market bubble over the past year has been fuelled in part by investors borrowing heavily. Now that shares are on a downward path, policy makers are concerned the wider economy could be affected.

China rolls out emergency measures to prevent stock market crash (jdargis)

An online survey by fund distributor eastmoney.com over the weekend, which polled over 100,000 individuals, said investors believed stock indexes would rise more than 5 percent on Monday. But many of those polled didn't think the bounce will last long.

"You're going to need the central bank to open the floodgates to take us back to 4,500 points in Shanghai," said an investment manager in Shanghai.

Whistle-blower: How doctor uncovered nightmare (jdargis)

An accident of timing, personal history, and incredible luck — good and bad — was about to unfold in Flagg's hospital room. The result would save lives and unleash a federal investigation into a long-esteemed physician, collapsing his elaborate medical empire, even as details about who uncovered the doctor's web of deceit, fraud and suffering remained unexplained.

In Health Law, a Boon for Diet Clinics (jdargis)

The prospects are so lucrative that in March, Mr. LaRosa sponsored a seminar advising entrepreneurs how to open their own weight-loss clinics to take advantage of the new stream of insurance coverage.

And Dr. Kaplan recently started a consulting business to teach primary-care doctors how to bill insurers for obesity treatments.

Episcopal church votes to divest from fossil fuels: 'This is a moral issue' (jdargis)

“At a point where we are losing species and where human life itself is threatened by climate change, the church, by acting on it, is saying that this is a moral issue and something that everyone needs to look at seriously.”

The immediate impact of the vote is symbolic. The measures covers some $380m in church holdings, but does not cover the denomination’s biggest asset, the $9bn pension fund, or some $4bn controlled by parishes and dioceses. The resolution encourages those congregations to begin looking at divestment.

Solar-powered plane lands in Hawaii, pilot sets nonstop record (jdargis)

Addressing the pilot on a live online broadcast from the Solar Impulse Mission Control Center in Monaco, an ecstatic Peter Frei, head of the project's conceptual design and aerodynamics, congratulated the team on 12 years of work culminating in what he called a historic moment.

Gold & Silver

Click to read the PM Daily Market Commentary: 7/3/15

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."

7 Comments

davefairtex's picture
davefairtex
Status: Diamond Member (Offline)
Joined: Sep 3 2008
Posts: 5418
Greek Referendum: NO - and not even close

As per Telegraph link above:

It looks like Greeks have voted by a large margin to reject the austerity terms of an aid package from international creditors.

With more than 20 per cent of referendum votes counted, the ‘No’ vote led by more than 60 per cent of the vote.

Its not even close.  60-40 isn't exactly a landslide, but its a pretty clear mandate for Tsipras.

It will be very, very interesting to see if Brussels walks this back and makes a deal that includes debt sustainability, or if they continue trying to crush the Greek economy underfoot for their effrontery.

After IMF came out with their bit saying Greek debt is unsustainable, Buba chairman Wiedmann  informed Merkel just today that a Grexit would end up costing Germany tens of billions, because the event would reduce the profits of the Bundesbank.  "Oh, now you tell me its gonna hurt?"

http://news.yahoo.com/buba-chief-warned-grexit-hurt-120045910.html

BERLIN (Reuters) - Bundesbank chief Jens Weidmann has warned Angela Merkel's cabinet that a Greek exit from the euro zone would rip billions of euros out of the German budget, German business daily Handelsblatt reported on Sunday, citing government sources.

The paper said that Weidmann had warned that the costs of a Grexit would hit Bundesbank profits, which flow into the budget.

It added that Bundesbank losses would be greater than the 14.4 billion euros ($16 billion) already put aside in provisions linked to the euro zone debt crisis because it would make losses on Greek securities bought by the central bank.

"This would not be enough in the case of a Grexit," Handelsblatt reported without specifying its source.

Time2help's picture
Time2help
Status: Diamond Member (Offline)
Joined: Jun 9 2011
Posts: 2832
Re: Greek Referendum: No

1+1+5=7, 1+1+3=5, 7/5 - Kickoff for the GCR?

Oooohh my tinfoil is shiny...I shall call it "my precious"...

pat the rat's picture
pat the rat
Status: Silver Member (Offline)
Joined: Nov 1 2011
Posts: 116
greeks

The greeks just told the world that bad debt is not going be pay back,this time the banker will listen but not yet hear the message. Batten the hatches this going to get rough!

Time2help's picture
Time2help
Status: Diamond Member (Offline)
Joined: Jun 9 2011
Posts: 2832
Grepocalypse Now

Now that's funny.

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
The Twilight Zone

Just in case you thought you might be going nuts.

Good for a giggle.

 

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
OK. So I am nuts.

Source.

https://www.minds.com/blog/view/429031571748556800/why-obama039s-ufo-statement-just-changed-the-course-of-history

 

Here's a transcript of the conversation:

Kimmel: This is something I feel like. If I was the president, and it is unlikely that is ever going to happen…

Obama: You never know.

Kimmel: If I was the president…

Obama: It was unlikely that I was going to be president.

Kimmel: The moment I was in inaugurated – my hand would still be hot from touching the bible – I would immediately race to wherever they have the files about Area 51 and UFOs and I would go through everything to find out what happened. Did you do that?

Obama: That is why you will not be president…

Kimmel: One of the reasons.

Obama: Because that is the first thing you would do.

Kimmel: It is at the top of my list.

Obama: The aliens won’t let it happen. You will reveal all of their secrets. They exercise strict control over us.

Kimmel: Now you know there are a lot of people who are going to examine your facial expressions here, every twitch, every everything and say, of course. Did you look? Did you see? Did you explore?

Obama: I can’t reveal anything.

Kimmel: Oh really? Because President Clinton said he did go right in and he did check and there was nothing.

Obama: You know, that is what we are instructed to say.

Time2help's picture
Time2help
Status: Diamond Member (Offline)
Joined: Jun 9 2011
Posts: 2832
So you are nuts

So what?  At least you are in good company.

27 minutes to US market open on this 6th of July, 2+0+1+5.

Better start warming up that printing press.  Probably going to need it today.

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