Daily Digest

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Daily Digest 9/4 - Good News Friday: Tomorrow's Generation, CA Pensions To Divest From Coal

Friday, September 4, 2015, 7:45 AM

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

Economy

Maryland cop buys food & housing for mother, daughter fleeing domestic violence (tc0655)

As of Monday, the Prince George County Police Department’s Facebook page had received 14,000 likes and more than 1,300 comments regarding Corporal Che Atkinson’s assistance to the mother and child.

Tomorrow's Generation (jdargis)

The African Leadership Academy on the outskirts of Johannesburg resembles a small, U.S. liberal arts college campus, with two-story, red brick buildings circling a central grassy quad. Around the quad are dormitories, classrooms, the dining hall, a 350-seat auditorium, a library, a design laboratory and an administration building. A peacock occasionally wanders the grounds. In the main lobby of the administration building are six red brick pillars inscribed with the ALA core values: curiosity, compassion, humility, diversity, excellence, integrity.

Payrolls Rose 173,000 in August as Jobless Rate Drops to 5.1% (jdargis)

Job gains in August were helped by a jump at local governments, mainly in education. Employment also increased in health services and in the leisure and hospitality sector. Factory payrolls, on the other hand, slumped by 17,000 last month, the most since July 2013.

Light at the end of the scalpel (jdargis)

The differences between cancerous and normal cells are often so minimal that they are extremely hard to tell apart. In the soft, gelatinous mass of the brain, Ellenbogen says tumour cells can feel like “fruit in Jell-O”, meaning that brain tumours are often slightly firmer and have a slightly more leathery texture. Then again, sometimes the tumour can have the same texture as brain tissue. One could distinguish between the two through colour, but even then the difference can be slight. Ellenbogen tells me about one patient whose tumour was barely distinguishable from normal brain matter, except for a hint of yellow in the tumour cells.

Legion of Tech Volunteers Lead a Charge for Bernie Sanders (jdargis)

They have built interactive maps of campaign events and are working on an automated flier generator to spit out polished promotional materials with a few clicks. They have set up an app to let volunteers and staff members at Mr. Sanders’s huge rallies use iPads to collect donations by swiping supporters’ credit cards. They have pioneered a tool to pair volunteers with lists of voters to call, automating what otherwise requires many paid campaign workers. And they have built dozens of websites for supporters of Mr. Sanders, the independent senator from Vermont, like Ms. Perdomo’s FeeltheBern.org.

California passes bill forcing biggest pension funds to divest from coal (jdargis)

“Coal is the fuel of the past and it’s no longer a wise investment for our pensioners,” said assemblyman Rob Bonta, who presented the bill before the assembly, in a statement. “I’m pleased that my colleagues agree: it’s time to move on from this dirty energy source.”

Tesla’s $35,000 Model 3 will start production in 2017 (jdargis)

God bless Elon Musk and his Twitter feed. While other companies rely on secretive press offices or employ PR giants to handle their communications, Musk happily uses the 140-character platform to break news about what's going on at Tesla and SpaceX. Wednesday, we learned that the Model 3—Tesla's next electric vehicle after the Model X SUV—will go into production in 2017, but only once the Gigafactory is up and running.

This Plane Can Be Powered By Farm Waste (jdargis)

According Co.Exist, those wastes—mixed with non-edible oils like those from the pongamia tree and regular jet fuel—will be used starting this fall to power some passenger flights from Los Angeles to San Francisco. And that’s only the first step: United plans to ramp up its purchasing of biofuels from other sources as well, including Fulcrum Bioenergy, a company in which United is an investor that turns household garbage into biofuel that cuts emissions by up to 80 percent.

Gold & Silver

Click to read the PM Daily Market Commentary: 9/3/15

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."

5 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Online)
Joined: Jul 30 2009
Posts: 4237
IIF warns of emerging market sell-off of crisis proportions

IIF warns of emerging market sell-off of crisis proportions

Reuters-17 hours ago
Vast swathes of emerging market currencies have also taken a battering, but rather ... "The decline in equity and currency values across a range of emerging ...

Emerging Markets Quiver as U.S. `Full Employment' Backs Fed Move

Bloomberg-1 hour ago
11, when China unexpectedly devalued the yuan, deepening a rout amid ... to own developing-nation debt over U.S. Treasuries widened two basis points to 398 ...
 

Central banks falling short of 2 pct. inflation target

Washington Post - ‎8 hours ago‎
WASHINGTON — Is 2 percent inflation too high to reach? The Federal Reserve and European Central Bank have been striving to generate a small dose of inflation — around 2 percent annually, just enough to spur more spending and income but not so much ...

BOJ readies for liquidity squeeze with T-bill yields below zero  (Japan)

Chicago Tribune-20 hours ago
The amount of T-bills circulating in the market contracted to the least since the central bank unveiled record stimulus in April 2013, according to Totan Research ...

Swedish central bank does not rule out mortgage-backed debt ...

Reuters-3 hours ago
LONDON, Sept 4 The Swedish central bank has not ruled out buying any assets as part of its quantitative easing programme, including mortgage-backed ...

Pension debt lowers Ky credit rating

The Courier-Journal-14 hours ago
FRANKFORT, Ky. Standard & Poor's Ratings Services on Thursday lowered its credit rating for Kentucky by one notch — down to 'A+' from 'AA-'.

Nearly one million households with interest-only mortgages can't pay off debts

Daily Mail - ‎11 hours ago‎
With interest-only mortgages – taken out by millions in the 1980s and 1990s – monthly repayments are lower than with a traditional home loan because only the interest, rather than any capital, is paid off, but the full debt must be cleared at the end ...
 

A million interest-only mortgage holders 'face repossession'

The Guardian - ‎3 hours ago‎
... each month as well as interest, their monthly repayments will be higher. Alternatively, some might prefer to put more money into investments or savings to use later to pay off the debt. Meanwhile, some people will be able to remortgage to a cheaper ...

Canadians' Debt Likely Hit All-Time High This Year: RBC

Huffington Post Canada-21 hours ago
Despite the recession that took hold in the first half of this year, Canadian consumers likely borrowed their way to a record high debt burden, the Royal Bank of ...
 

Brazil's 2016 budget intensifies fear of financial crisis

Irish Times-7 hours ago

Brazil's debt to GDP ratio stands at just 65 per cent, significantly lower than many developed economies. But its history as a serial defaulter, with nine sovereign ..

Brazil Real Leads Weekly World Losses as Fiscal Concern Prevails

Bloomberg-1 hour ago
The currency swung between gains and losses Thursday before Chief of Staff Aloizio Mercadante said that the architect of Brazil's efforts to cut budget deficits ...

Puerto Rico Balloon Payments Seen as Risk for Some Bond Insurers

Bloomberg-1 hour ago
For bond insurers, Puerto Rico's balloon payments on debt that puts off interest bills for decades is a billion-dollar asterisk. With Governor Alejandro Garcia ...

Ruble Swinging Most in Four Months Triggers Putin Budget Switch

Bloomberg-3 hours ago
The ruble fell with oil prices, retreating for a fourth day as market turmoil that's driven the strongest swings in the Russian currency since May forced Vladimir ...

Friendship Between Putin and Xi Becomes Strained as Economies Falter

New York Times - ‎14 hours ago‎
But the once-vaunted relationship between the Chinese president, Xi Jinping, and Russia's leader, Vladimir V. Putin, has come under strain as the economies of their countries have faltered. Two landmark energy deals signed last year for Russian natural ...

South Korea Cuts Growth Forecast on Chinese Slowdown Risk

Wall Street Journal-15 hours ago
Wild swings in global financial markets following a currency devaluation in China on Aug. 11 reflect fears that the world's second-largest economy is entering a ...

G20 finance chiefs meet to calm nerves as China slows

Yahoo News UK-3 hours ago
G20 finance ministers and central bank chiefs from the world's top 20 economies meet in Turkey on Friday hoping to calm the nerves of markets rattled by ...

Emanuel gets earful about property tax hike at final budget hearing (Chicago)

WGN-TV - ‎2 hours ago‎
Facebook · Twitter · Instagram; Email Alerts; About & Contact · Online Public File • Terms of Service • Privacy Policy • 2501 West Bradley Place Chicago, Illinois 60618 • Copyright © 2015, WGN • A Tribune Broadcasting Station • Powered by WordPress.com ...

Even without a budget, Illinois government still hiring

nwitimes.com - ‎11 hours ago‎
SPRINGFIELD | The state may not have a budget, but that isn't stopping Gov. Bruce Rauner's administration and other state agencies from continuing to hire more workers. According to records compiled by the Illinois comptroller, 440 people were put on ...

Japan's medical spending to top ¥40 trillion in fiscal 2014

The Japan Times-8 hours ago
Japan's medical expenses in the year to March 2015 are certain to hit a new high above ¥40 trillion ($332 billion) on the back of the nation's graying population, ...

Budget requests for fiscal 2016 reach record ¥102.4 trillion

The Japan Times-3 hours ago
General account budget requests for fiscal 2016 from Japanese government ministries and agencies totaled a record ¥102.41 trillion, the Ministry of Finance ...

Japan second-quarter GDP seen revised down on bigger falls in ...

euronews-8 hours ago
Japan's current account balance, which will be published on Tuesday, is expected to show a surplus of 1.715 trillion yen ($14.38 billion) in July. It would be the ...

Japan Stocks Saw The Biggest Weekly Outflow In Over A Decade

Barron's (blog) - ‎14 hours ago‎
Last week, foreigners net sold 1.85 trillion yen ($15.4 billion) of Japanese stocks and equity index futures, the biggest weekly outflow for more than a decade. Part of it was profit-taking. At the beginning of last week, the Nikkei 225 rose 12.4% this ...
Story image for bailouts OR bailout from CNBC

Varoufakis: A 10-year-old could see bailout was wrong

CNBC-5 hours ago
Yanis Varoufakis, the controversial former Greek finance minister, has told CNBC that even a child could see why the Greek bailout was not going to work.
 
saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Online)
Joined: Jul 30 2009
Posts: 4237
Lies, stupidity and humor all in one short G20 paragraph

"We reiterate our commitment to move toward more market determined exchange rate systems and exchange rate flexibility to reflect underlying fundamentals, and avoid persistent exchange rate misalignments. We will refrain from competitive devaluations and resist all forms of protectionism," it said.

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

Sorry about being a bit judgmental on that one. OK, maybe not. Let's give one more opinion on our masters:

sand_puppy's picture
sand_puppy
Status: Diamond Member (Offline)
Joined: Apr 13 2011
Posts: 2033
China: The Crushing Costs of Systemic Corruption

A great quote from CHS taken from ZH:

Why Capital Is Fleeing China: The Crushing Costs Of Systemic Corruption

Corruption isn't just bribes and influence-peddling: it's protecting the privileges of the few at the expense of the many. Rampant pollution is corruption writ large: the profits of the polluters are being protected at the expense of the millions being poisoned. What China will be left with a poisoned land stripped of talent and capital.

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Online)
Joined: Jul 30 2009
Posts: 4237
Brazilian Real down another 3% today, bonds hit again

Brazilian Real

Brazil 10 Year Government Bond (just hit 14.8%)

pinecarr's picture
pinecarr
Status: Diamond Member (Offline)
Joined: Apr 13 2008
Posts: 2259
et tu Nouriel??

From the Telegraph, "Nouriel Roubini dismisses China scare as false alarm, stuns with optimism":

Economist describes alarmist reaction to the Shanghai stock market rout as 'excessive, unreasonable and irrational'

Wow...et tu, Nouriel?!  Tough to watch when he was so stinking impressive pre-the 2008 crisis, neatly laying out all the steps that would happen leading up to the banking crisis.

Prediction: Roubini will get the Nobel Peace Prize for Economics now that he's on the team.

http://www.telegraph.co.uk/finance/economics/11845194/Nouriel-Roubini-dismisses-China-scare-as-false-alarm-stuns-with-optimism.html

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