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Daily Digest 8/18 - IRS Hack More Extensive Than First Reported, The Weight Of The World

Tuesday, August 18, 2015, 10:54 AM

Economy

Hacking of Tax Returns More Extensive Than First Reported, I.R.S. Says (jdargis)

“Following this review,” its statement continued, “the I.R.S. has identified more questionable attempts to obtain transcripts using sensitive information already in the hands of criminals. As a result, the I.R.S. is moving immediately to notify and help protect these taxpayers.” The agency said it would take “a wide variety” of steps, such as offering free credit protection.

Doomsday clock for global market crash strikes one minute to midnight as central banks lose control (Pascal)

The Chinese economy has now hit a brick wall. Economic growth has dipped below 7pc for the first time in a quarter of a century, according to official data. That probably means the real economy is far weaker.

The Psychological Driver of Deflation and the Collapse of the Trust Horizon (pinecarr)

In the political realm, trust, such as it is, will be an early casualty. Political promises have been regarded as highly suspect for a long time in any case, but considering that the electorate tends consistently to vote for whomever tells them the largest number of comforting lies, this is not particularly surprising. Our political system selects for mendaciousness by design, since no party is normally elected by telling the truth, yet we have still collectively retained some faith in the concept of democracy until relatively recently. In recent years, however, it has become increasingly clear that the political institutions in supposedly democratic nations have largely been bought by big capital. More often than not, and more blatantly than ever, the political machinery has come to serve those special interests, not the public interest.

Here’s Why Your Brain Seems Mostly Dormant (jdargis)

Neurons communicate with electrical impulses called spikes. In the 1930s, scientists began to record spikes from individual neurons using small metal electrodes inserted into the brain. They observed neurons with activity rates of tens to hundreds of spikes per second, with each spike lasting a few milliseconds.1 The brain seemed to be buzzing with communication. Then in a 1968 review of microelectrode technology, the biomedical engineer David Robinson brought an important discrepancy to light. As electrodes are lowered into the brain, they should detect activity from any cell they come close to. In a typical recoding, this would theoretically amount to about 200 cells. Yet researchers were lucky to record from five cells per electrode insertion. Where were the rest of the neurons?

Neighbors rally against blight near site of April murder in Upper 9th Ward (db)

The city lists several code violations at Ancar’s own property. She fumed that she was targeted for enforcement even though other nearby lots feature violations as egregious as a small boat, which she says was dumped there about two months ago.

Elsewhere nearby are overgrown lots on Montegut Street bordering Norfolk Southern’s Oliver Yard Terminal, houses in varying states of collapse, and pitted roads that threaten to damage cars that venture on them.

How The L.A. County Jail's Version Of Democracy Has Changed Life For Inmates (jdargis)

In the nation's largest county jail system, where violence and substandard living conditions have long been the norm, the inmate councils may be part of a larger shift toward more humane treatment of inmates, as a federal judge oversees reforms and a plan to replace the dungeon-like Men's Central Jail moves forward.

Germany Struggles With Too Much Renewable Energy (Tom K.)

Although Germany has increased its renewable energy generation by almost five times in the last decade, it has failed to invest in building the necessary infrastructure to carry this energy. The excess electricity that is being generated by Germany is spilling over to Poland and Czech Republic, two countries that are investing close to $180 million to shore up their grids from Germany’s power spillage.

The Weight Of The World (jdargis)

Figueres and her team have spent the years since Copenhagen trying to learn from its mistakes. How well they have done so will become apparent three months from now, when world leaders meet for this year’s COP—the twenty-first—in Paris. Like Copenhagen, Paris is being billed as a historic event—“our last hope,” in the words of Fatih Birol, the incoming director of the International Energy Agency—and, again, expectations are running high. “We are duty-bound to succeed,” France’s President, François Hollande, has declared.

Gold & Silver

Click to read the PM Daily Market Commentary: 8/17/15

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."

6 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4167
saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4167
China shadow banks appeal for government bailout

China Stimulus Confronts Drag From Headwinds of Debt, Land Sales

Bloomberg-34 minutes ago
Local governments alone face a debt-service burden of about 1 trillion yuan this year ($156 billion), according to JPMorgan Chase & Co., while revenue from ...
 
 

Puerto Rico Sale Pushed to Thursday as Restructuring Looms
Bloomberg-2 hours ago

  1. Emerging market debt trading volumes down 27 pct in Q2

    Reuters-4 minutes ago
    Mexican local market debt volumes were the highest in the category at $219 billion, followed by Brazil with $93 billion, South Africa at $82 billion, India at $69 ...
     

    China concerns reduce emerging market appetite to record low ...

    Reuters UK-5 hours ago
    ... China's slowing economic momentum and an emerging market debt crisis had ... Japan's yen was viewed as the most 'undervalued' currency to the tune of a ...

    Surge in emerging market capital outflows hits growth and currencies

    Financial Times-32 minutes ago
    A surge of capital gushing out of emerging markets has risen toward $1tn over the past 13 months, roughly double the amount that fled during the financial crisis ...
     
    The world's top China analyst has a doomsday scenario
    Business Insider Australia-4 hours ago
  1. Bankruptcy will cost Detroit on new bonds

    The Detroit News-20 minutes ago
    Detroit is paying a high price in its return to the $3.6 trillion municipal-bond ... little as 41 percent of what they were owed, according to Moody's Investors Service.
     

    Venezuela's currency is now so worthless that people are using it as napkins

    Business Insider Australia - ‎10 hours ago‎
    The country is a major oil exporter, and the plunge in prices is a huge part of what's causing the crisis — as a result, it's pegged as having the riskiest debt in the world, with the highest likelihood of an upcoming default. Food is increasingly ...
     

    Could the oil slump push this country to default?

    CNBC-12 hours ago
    The cost of protecting against a Venezuelan default has hit record highs, leading to fears that the oil-dependent country could become the first sovereign victim ...

    Overvalued equities can keep rising

    Financial Times-12 hours ago
    Equity valuations in the US and Europe are back to levels last seen during the emergence of the dotcom bubble and ahead of the 2008-09 financial crisis.
     
    1. Survey: Most Americans not stepping up retirement savings

      WTOP-4 hours ago
      ... into your 401(k), the limit increased this year, so you may be able to save more. ... savings, debt, net worth and overall financial situation — dipped for the third ...

China shadow banks appeal for government bailout

Financial Times-14 hours ago
Eleven shadow banks have written an open letter to the top Communist party official in northern China's Hebei province asking for a bailout that would enable ...

 

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
The Not So Grim Reaper.

Someone might find this useful.

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
The Latest From Boston Dynamics.

Compare it to Toyota's Asimo. 

And the offering from Europe, Nao

Can you spot the subtle difference in philosophy? 

 

robie robinson's picture
robie robinson
Status: Diamond Member (Offline)
Joined: Aug 25 2009
Posts: 1191
Hardly robots, but

faster than a string trimmer is......Kelsey and Drew!

https://www.facebook.com/RidgewindFarmSuffolksPrivateInstruction/videos/...

they were filmed while away having Kelsey settled. I bring 'em back home this sat.

Tall's picture
Tall
Status: Platinum Member (Offline)
Joined: Feb 18 2010
Posts: 564
Blind Alleys and Techno-Fantasies

I like the scythe

http://www.theautomaticearth.com/2015/08/the-boundaries-and-future-of-so...

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