Daily Digest

Image by Joi, Flickr Creative Commons

Daily Digest 8/21 - Good News Friday: The Ketamine Cure, Marine Mammals Thriving In Thames

Friday, August 21, 2015, 12:14 PM

This is Good News Friday, where we find some good economic, energy, and environmental news and share it with PP readers. In the future, please send any positive news to [email protected] with subject header "Good News Friday." We will save and post weekly. Enjoy!

Economy

UK embassy in Tehran to reopen after thaw in British-Iranian relations (jdargis)

After the closure of the British embassy in Tehran and the Iranian embassy in London in 2011, diplomatic relations were left at "the lowest possible level", BBC diplomatic correspondent Jonathan Marcus said.

Since then "ties have slowly been warming", our correspondent said, but he added that last month's nuclear deal had clearly been decisive in prompting the UK embassy to be reopened.

People Are Awesome 2015 (thc0655)

Here's another 'People are awesome 2015 impossible' video I just finished editing. Hope you enjoy it, all the credit are in the description including my art channel.

Ghosts of Truancy Laws Past (jdargis)

Truancy reformers hope that, for students, the change will cut off a major tributary of the school-to-prison pipeline. The Austin advocacy group Texas Appleseed has lobbied for years to decriminalize truancy, and gave the effort fresh momentum this spring with a widely cited study that detailed the disproportionate use of truancy charges against black and Hispanic students, as well as the lack of due process in specialized truancy courts. This school year, Texas Appleseed Executive Director Deborah Fowler said, her group will be watching how schools adjust to the new law, and whether it prompts the shift in disciplinary culture that lawmakers intended.

The Ketamine Cure (jdargis)

Over the past three years, Brooks has treated about 700 patients, some who’ve traveled from as far away as Saudi Arabia, the Philippines, Israel, and Europe. He gets six to 10 daily inquiries from potential patients online. Of those Brooks treats, he estimates that about 70 percent show improvement. “For patients who are suicidal—and probably half of my patients are—they can get relief within an hour or two,” he says. “For patients who aren’t suicidal, it’s a little more subtle. It could be six to eight hours.”

Bernie Sanders Draws Big Crowds to His ‘Political Revolution’ (jdargis)

It is not a new message for Mr. Sanders, who came up in radical left politics, but the response is something unfamiliar. For someone who has always had a sweepingly macro, if not entirely Marxist, critique of America, having the largest crowds of the election cheering each description of income inequality, and each proposal to eradicate it, amounts to the validation of a career spent in relative obscurity. Mr. Sanders’s grumpy demeanor, his outsider status and his suspicion of all things “feel good,” are part of the attraction.

Elon Musk’s hyperloop is actually getting kind of serious (jdargis)

The Hyperloop, detailed by SpaceX and Tesla Motors CEO Elon Musk in a 57-page alpha white paper in August 2013, is a transportation network of above-ground tubes that could span hundreds of miles. With extremely low air pressure inside those tubes, capsules filled with people would zip through them at near supersonic speeds. Musk published the paper encouraging anyone interested to pursue the idea, since he’s kinda a busy guy.

Goodwill goes upscale with new boutiques (jdargis)

But as the economy improves, there's another potential head wind. Many shoppers are expected to migrate back to traditional retailers, according to a 2014 report from IBISWorld. It forecasts thrift industry revenue to decline, even though young adults are expected to increasingly look for "vintage" and "unique" clothing.

Marine mammals thriving in Thames (jdargis)

"But, actually, beneath the waves, it is full of life. We have a huge range of fish and invertebrates, and also top predators."

Just 50 years ago, the Thames was so polluted it was declared "biologically extinct", too dirty for anything to survive there.

Gold & Silver

Click to read the PM Daily Market Commentary: 8/20/15

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

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4147
A small gift arrives for global economy

 

China Shares Brush New Low Since Depth of Selloff

Wall Street Journal-5 hours ago
Worries about China's growth in recent days have unnerved investors across ... The Shanghai Composite Index closed down 4.3% at 3507.74, just a whisker ...
China Markets Live - Shanghai and Shenzhen finish 4-5 per cent off ...
South China Morning Post (subscription)-7 hours ago
China stocks dive 4.27% on Friday
Shanghai Daily (subscription)-8 hours ago
 

China money market stabilises after c.bank injections, more easing expected

Reuters - ‎9 hours ago‎
The spread in the five-year credit default swap rate on Chinese sovereign debt rose 0.47 percent to 105.16. Key money rates at a glance: Volume-wei Previous Change (bps) Volume ghted day (%) average rate (%) Interbank repo market Overnight 1.8188 ...
 
Finance Ministry to seek record ¥26.05 trillion for debt-servicing in fiscal 2016

The Finance Ministry plans to demand a record ¥26.05 trillion for debt-servicing under the government’s general-account budget for fiscal 2016, up 11.1 percent from the amount it secured for the current year, it was learned Friday.

This reflects the increasing balance of outstanding Japanese government bonds, according to informed sources.

Japan Trade Deficit Grows To Y268.055 Billion In July

Dispatch Times-11 hours ago
That was well shy of forecasts for a deficit of 53.0 billion following the downwardly revised 70.5 billion yen shortfall in June (originally -69.045 billion yen).
  1. Chinese province's debt crisis exposes economic fault line

    The Fiscal Times-19 hours ago
    BEIJING (Reuters) - A mini debt crisis in northern China is exposing cracks in a financial pillar of the country's economic revival plan: the $430 billion ...
     

    Stocks' reprieve in doubt after 'mortal blow' from Chinese data

    MarketWatch-4 hours ago
    Concerns about a slowdown in global growth, largely centered on China, drove ... The weaker Chinese data will pressure the Federal Reserve into delaying an ...
     

    The Standard & Poor's 500 fell to lowest level since February 2014

    Crain's New York Business-10 hours ago
    Slower growth may cause the Federal Reserve to delay its first interest rate increase since 2006. Minutes of the central bank's latest meeting, released ...

Commodity Rout Erases $2 Trillion From Stock Values

Bloomberg-15 hours ago
Slumping prices for raw materials have wiped out $2.05 trillion from the shares of mining and oil companies since the middle of last year, data compiled by ...
  1. Italy's Bonds Slide for Second Day on China Turmoil, Greek Vote

    Bloomberg-4 hours ago
    Italian government bonds fell for a second day as a gauge of manufacturing in China plunged to its lowest in more than six years, damping demand for riskier ...
     

    US credit signals warning for risk assets

    Financial Times-Aug 20, 2015
    Investors are demanding a greater premium for owning the debt of US companies in a sign that weakening growth prospects for China and sliding commodity ...

GLOBAL ECONOMY-Disappointing business surveys intensify growth fears

Reuters - ‎5 hours ago‎
LONDON/BEIJING, Aug 21 (Reuters) - Signs China's slowdown is getting worse and weak growth in Europe have further damaged the outlook for the global economy, sending stocks and commodity prices reeling on Friday. China's vast factory sector shrank ...

Chinese Factory Gauge Drops to Lowest Level Since March 2009

Bloomberg-13 hours ago
A Chinese manufacturing gauge fell to the lowest in more than six years, suggesting the economy will need further policy support to stem a deepening slowdown ...

Treasuries Roar as Disinflation Specter Haunts Global Economy

Bloomberg-8 hours ago
Treasuries headed for the biggest weekly gain in five months as slumping commodities ... “Doubts about Chinese growth fueled concern about slackening global ...
 

Traders Sound Policy-Error Alarm as Inflation Outlook Dives

Bloomberg-2 hours ago
... trillion of its own bond purchases and China devalued its currency -- is even more ... Two-year Treasury breakevens fell to within a quarter-percentage point of ...
 

GLOBAL MARKETS-Grim China data caps worst week of year for ...

Reuters-4 hours ago
China Aug PMI shrinks at fastest pace in almost 6-1/2 yrs. * Dollar extends losses as safe-haven U.S. debt yields fall. * Gold, Treasuries up on safe-haven bid.
 

Mexico central bank sells $123 mln after peso hits record low

Reuters-1 hour ago
MEXICO CITY Aug 21 Mexico's central bank said on Friday it had sold $123 million of $200 million offered after a sharp drop in the peso to a record low ...
 

Ringgit Drops to 17-Year Low as Falling Brent Crude Dims Outlook

Bloomberg-11 hours ago

Malaysia's foreign-exchange reserves fell further in the first two weeks of August, reducing the cent

 

Nigeria's Central Bank Vows To Disappoint Speculators Seeking ...

Naija247news-21 hours ago
Nigeria's central bank vowed to fight off speculators taking bets that the naira will be devalued after Kazakhstan became the latest country to abandon control of ...
 
  1. Nigeria restructures bank loans to cash-strapped states

    Reuters-1 hour ago
    ABUJA Aug 21 Nigeria has restructured short-term commercial bank loans to its cash-strapped state governments into longer-term sovereign bonds as Africa's ...
 
  1. Turkey Bond Weekly Slide Shows Growing Pressure for Higher Rates

    Bloomberg-2 hours ago
    Turkish bonds extended their biggest weekly slide in six months as investors speculated the central bank will be forced to raise borrowing costs to shore up the ...
     

    Turkey Downgrade Already in the Price as Bonds Trade Like Junk

    Bloomberg-9 hours ago
    Of the six countries whose foreign debt Moody's Investors Service rates at the level just below Turkey's, five have lower yields. Only Russia is higher, meaning ...

    Indonesian Stocks Slide Into Bear Market as Economy Stumbles

    Bloomberg-5 hours ago
    The weak currency is limiting scope for the central bank to cut interest rates, while tumbling commodity prices and a deepening economic slowdown in China ...
     
     

    Ukraine Faces Sunday Payment Deadline as Nomura Sees Deal Near

    Bloomberg-2 hours ago
    ... comes due in two days that will shed light on the government's progress in negotiating a $19 billion debt restructuring with creditors led by Franklin Templeton.

    EconomyBrazil inflation rises to 11.5 year high

    Financial Times - ‎2 hours ago‎
    With inflation now running at more than twice the centre of the central bank's target range of 4.5 per cent, the pressure is on for policymakers to keep rates high even if - as they have signaled in the minutes of their last meeting - the tightening ...
     
     

    Brazil Has Yet Another Big Mess on Its Hands After State Default

    Bloomberg-4 hours ago
    ... states and municipalities swelled to about 12 percent of Brazil's economy at the end of May, the highest in more than five years, according to central bank data.
     

    Brazil Stocks on the Verge of Bear Market as Real Leads Losses

    Bloomberg-2 hours ago
    The rout in developing nations put Brazilian stocks on the brink of a bear market as Latin America's largest economy heads toward the worst recession in 25 ...
    1. Argentina's Black Market Peso Falls to Weakest in 10 Months

      Bloomberg-20 hours ago
      Central Bank President Alejandro Vanoli, who took over in October to stem a drop in reserves and arrest the sinking of the peso in the black market from a record ...
       
       

      Taiwan records net financial outflow for 20th consecutive quarter

      Focus Taiwan News Channel-8 hours ago
      According to statistics compiled by the central bank, Taiwan's financial account, which measures the flow of direct investment and portfolio investments, showed ...
       

      Taiwan business circles call for further depreciation of NTD

      WantChinaTimes-11 hours ago
      ... has been experiencing deflation, he said during the Third Wednesday Club, a Taiwanese business community where business heavyweights meet for a noon ...
       

      Taiwan's manufacturing sector output projected to fall this year

      WantChinaTimes-7 hours ago
      In the second quarter of the year, the output of the local manufacturing sector totaled NT$3.33 trillion (US$102 billion), down 9.21% from a year earlier and the ...

      Sharp China factory slowdown in August raises global growth fears

      Reuters-7 hours ago
      BEIJING Worries of a deepening China economic slowdown intensified on Friday after a private survey showed the factory sector shrank at its fastest rate in ...
       

      Japan's Finance Minister Warns China on Currency Moves

      ABC News-8 hours ago
      Japanese Finance Minister Taro Aso said Friday that recent moves by China to allow its currency to depreciate are a concern and could pose problems for ...
       

      Talk of widespread deflation across world on market developments

      Irish Times-10 hours ago
      Despite the recent fall in oil prices, the devaluation of the Chinese yuan and the drop in emerging market currencies, fears of a world deflationary spiral seem ...
       

      Sky-high student rents give poor pupils a free lesson in inequality

      The Guardian-6 hours ago
      It used to be that penalising poor students with debt was seen as anathema. ... loans and grants, which has to be made up through work or, more likely, debt.

      Indonesian Stocks Slide Into Bear Market as Economy Stumbles

      Bloomberg-6 hours ago
      The weak currency is limiting scope for the central bank to cut interest rates, while ... That's still almost twice as expensive as the MSCI Emerging Markets Index.
     

    Indonesians feel heat of chilli price spike, blame Jokowi's policies

    The Straits Times-19 hours ago
    Agriculture Minister Amran Sulaiman said 2 trillion rupiah had been allocated for this year to carry out dam building in dry areas and the work was ongoing.

    Kospi Sinks to Two-Year Low as Won Declines Amid Korean Tensions

    Bloomberg-12 hours ago
    The government will stabilize financial markets if provocations from the North or ... peninsula increase as they don't bode well for the currency and stocks,” said ... Korean equities this month amid a selloff across emerging markets ahead of a ...

Draghi's Post-Holiday Inbox Stuffed With Trouble for Policy

Bloomberg-7 hours ago
Deflationary pressures coming from China, emerging markets and the decline of commodities' prices are making it harder for the ECB to hit its inflation target.” ...
 
 

EM rout spreads to Korea and Japan markets

Financial Times - ‎14 hours ago‎
The global sell-off was triggered by fresh concerns about the health of the global economy, along with volatile oil prices and China's devaluation of the renminbi. The latter has increased concern that a primary engine of the global economy is spluttering.
 
  1. Fitch says fiscal, political issues weigh on Brazil rating

    Reuters-2 hours ago
    ... a reduced government savings target and worrying debt dynamics, are putting ... the country's sovereign debt rating, Fitch Ratings' Brazil head Rafael Guedes ...
 

India's Rupee Posts Biggest Two-Week Decline Since August 2013

Bloomberg-3 hours ago
India's rupee posted its steepest two-week drop since August 2013 as global funds cut holdings of local stocks amid a deepening emerging-market selloff.

India's Rupee Posts Biggest Two-Week Decline Since August 2013

Bloomberg-5 hours ago
India's trade deficit reached $12.8 billion in July as overseas shipments dropped 10.3 percent from a year earlier, official data showed after the close of markets ...

Russia Hones Rescue Tool for Firms Too Hopeless, Too Big to Fail

Bloomberg-8 hours ago
Russia is priming a rescue mechanism for companies on the verge of bankruptcy, ... agreed to provide loan guarantees of 16.7 billion rubles to Russian tank and ...
 

Greek bonds rally on hopes of QE buying

Financial Times-4 hours ago
Greek government bonds, pariah of global markets for much of this year, are back in favour once again as investors bet that the country's latest rescue deal has ...
 

Special Report: US banks moved billions in trades beyond CFTC's ...

Reuters-3 hours ago
The U.S. derivatives market has shrunk but remains large, with outstanding contracts worth $220 trillion at face value. And the top five top banks account for 92 ...
 

Illinois hit with downgrades as Springfield goes more than 50 days ...

STLtoday.com-Aug 20, 2015
When the budget's delay prevented tax money from being transfered into its debt- service fund, S&P this month reduced its rating by seven notches. That caused ...

Lake Mead's Water Sinks to Lowest Level Since 1930s

Yahoo News-3 hours ago
The reservoir can hold 9.3 trillion gallons (36 trillion liters) of water at maximum capacity. Most of the water trickles down from surrounding mountains as ...
 
 

Battered Italian economy forced to sell off marinas on sought-after ...

Telegraph.co.uk-22 hours ago
Italy's debt has reached €2.2 trillion – the second highest per capita in the eurozone after Greece. telegraph.co.uk · Follow @telegraphnews. Top news galleries ...
  1. Puerto Rico Finds Waning Demand for Water Bonds Amid Debt Talks

    Bloomberg-3 hours ago
    Puerto Rico is running into resistance as the commonwealth tries to sell $750 million in bonds while crafting a debt-restructuring plan that would likely leave ...
     
    1. CSN Bonds Tumble to Record as Distressed Steelmaker's Debt Grows

      Bloomberg-20 hours ago
      Bonds of Cia. Siderurgica Nacional SA, the worst performer among junk-rated raw-material suppliers in emerging markets, fell to a record low as its debt burden ...

Turmoil in Financial Markets Worsens on China Manufacturing Data

Bloomberg-14 hours ago

Equities in Hong Kong, Indonesia and Taiwan entered bear markets and junk bond yields globally rose to the highest since October 2012. Oil was set for its ..

  1. China's top listed coal producers posts weak H1 results, oversupply ...

    Reuters Africa-3 hours ago
    China Shenhua Energy Co Ltd's net profit in the first six months fell to 13.07 billion yuan ($2.05 billion) and China Coal Energy Co Ltd posted a net loss of 1.07 ...
     
    1. From Russia to Iran, the consequences of the global oil bust

      Washington Post-19 hours ago
      Russia's economy is projected to shrink by 3.4 percent this year. Oil and gas revenue make up half the government's income. Crucially, revenue for Gazprom, ...
     

    SC Pension Fund's Worth Falls as Investments Don't Keep Up

    WLTX.com-13 hours ago
    The pension system had to provide more than $1 billion to retirees. That means the portfolio was worth $612 million less on July 1 than a year earlier, or $29.2 ...

==========================

I didn't say that it was a nice gift:

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4147
This guy won a Nobel Peace Prize

"Believe it or not, many economists argue that the economy needs a sufficient amount of public debt out there to function well. And how much is sufficient? Maybe more than we currently have. That is, there’s a reasonable argument to be made that part of what ails the world economy right now is that governments aren’t deep enough in debt."

DennisC's picture
DennisC
Status: Gold Member (Offline)
Joined: Mar 19 2011
Posts: 310
Klaatu barada nikto

Diffferent movie, but you know...what's old is new again. 

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4147
biggest weekly point drop since the worst week of crisis

"The Dow Jones Industrial Average DJIA, -3.12% suffered its biggest weekly point drop since the worst week of the financial crisis. The Dow tumbled 531.14 points on Friday, and 1,017.85 points, or 5.8%, for the week, amid growing concerns of a slowing global economy. The Dow had tumbled 1,874.19, or 18%, the week ending Oct. 10, 2008, as the collapse of Lehman Bros. rattled global markets. On a percentage basis, this was the blue chip barometer's worst week since the week ending Sept. 23, 2011, when growing concerns of a double-dip recession in Europe pushed the index down 6.4% on the week. "

 

The S&P 500 SPX, -3.19% dropped 64.84 points, or 3.2% on Friday and lost 5.8% of its value over the past week, settling at 1,970.89. The brutal selloff wiped $1.1 trillion off its market value over the week, according to FactSet.

  1. Brazil's economy loses nearly 158,000 jobs in July -ministry

    Reuters via Yahoo! FinanceAug 21 11:04 AM

    Brazil's economy shed a net 157,905 payroll jobs in July, the labor ministry said on Friday, as Latin America's largest country heads toward a prolonged recession. Brazilian companies were expected to ...

  1. Core inflation feared to sink into the red as growth slows

    Singapore Business Review via Yahoo! FinanceAug 20 07:40 PM

    Singapore will remain stuck in the grip of deflation when the Consumer Price Index (CPI) for July is released next week. According to DBS, Singapore will endure its ninth consecutive month of deflation with the headline number expected to register -0.2% year-on-year for July. Inflation will remain stuck in the red on back of low energy prices, slowing economic growth, as well as a whole slew of...

     

    1. Wholesale prices are falling across Asian emerging market countries, raising concerns over profitability of companies and growth in the region.

      1. Treasuries headed for the biggest weekly gain in five months as slumping commodities prices sparked speculation a slowdown in global growth will revive deflation and delay the Federal Reserve from raising interest rates early.

        MAYVELIN U. CARABALLO REPORTERHeadline inflation in the Philippines may hit 1.9 percent on average this year, or below the desired range of 2 percent to 4 percent set by the central bank for full-year 2015, the Singapore-based DBS Bank said

         

 

thc0655's picture
thc0655
Status: Diamond Member (Offline)
Joined: Apr 27 2010
Posts: 1614
Are we set up for another Black Monday?

https://en.wikipedia.org/wiki/Black_Monday_(1987)

In financeBlack Monday refers to Monday, October 19, 1987, when stock marketsaround the world crashed, shedding a huge value in a very short time. The crash began in Hong Kong and spread west to Europe, hitting the United States after other markets had already declined by a significant margin. The Dow Jones Industrial Average (DJIA) fell exactly 508 points to 1,738.74 (22.61%).[1] In Australia and New Zealand, the 1987 crash is also referred to as "Black Tuesday" because of the time zone difference.

The terms Black Monday and Black Tuesday are also respectively applied to October 28 and October 29, 1929, which occurred after Black Thursday on October 24, which started the Stock Market Crash of 1929.

All we need is some "kinetic military activities" over the weekend and the similarities would be eerie.  I'm tempted to get some gourmet popcorn and stay home from work on Monday while staying glued to my computer monitor.  Either that or order some freeze dried food.

 

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4147
thc0655.....Listen to Peter Schiff about "Black Monday"

Listen from the beginning:

===============================================

For those who do not remember Peter Schiff:

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
The word on the street.

Have You ever wondered why the government can afford to play their jolly-good-fun war games, yet you struggle to find the pocket change for for a beer? 

The good news is that the Word is getting out.  Maybe we will be able to drop the sheeple pejorative soon. 

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Login or Register to post comments