Daily Digest

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Daily Digest 9/12 - Big Banks In Price-Fixing Settlement, Honda To Test Self-Driving Cars

Saturday, September 12, 2015, 9:45 AM

Economy

Big banks in $1.865 billion swaps price-fixing settlement (Adam L.)

Credit default swaps are contracts that let investors buy protection to hedge against the risk that corporate or sovereign debt issuers will not meet their payment obligations.

The market peaked at $58 trillion in 2007, according to the Bank for International Settlements, but shrank to $16 trillion seven years later as investors better understood its risks.

Global Smartphone Market Hits Lowest Growth Rate Since Recession (richcabot)

The smartphone market has not experienced such sluggish growth since the depths of the economic recession, the report noted, citing research conducted by Strategy Analytics in the third quarter of 2009. Approximately 339.5 million units were sold in the second quarter this year, whereas 295 million units were sold in the second quarter of 2014. Linda Sui, director of Wireless Smartphone Strategies at Strategy Analytics, noted that this could be largely attributed to high penetration rates in the American, Chinese, and European markets.

A rare interview with the mathematician who cracked Wall Street (Afridev)

Jim Simons was a mathematician and cryptographer who realized: the complex math he used to break codes could help explain patterns in the world of finance. Billions later, he’s working to support the next generation of math teachers and scholars. TED’s Chris Anderson sits down with Simons to talk about his extraordinary life in numbers.

Honda to test self-driving cars, manufacturers pledge auto-braking for the masses (jdargis)

The AP reports that some driver advocates like the Center for Auto Safety were concerned that this pledge doesn’t do enough to get automatic breaking systems into cars. Those advocates would rather the government legally require cars to have automatic breaking systems, instead of rely on a voluntary promise to keep drivers safe. Another concern is that automatic braking systems are generally sold as add-ons to luxury vehicles, which would put them out of reach of most consumers.

As a Boom Fades, Brazilians Wonder How It All Went Wrong (jdargis)

It was not just the drop in global prices for Brazilian commodities like iron ore, the slumping demand in markets like China, or even the brewing corruption scandal at the national oil company that were hurting the country. Ms. Rousseff’s own economic policies were taking a toll, too, officials concede.

Take My Solar Panel, Please! (jdargis)

For the past seven years, CPS has offered residents the ability to put solar panels on their roof under a net metering model—homeowners use the electricity the panels produce and then sell the excess to the grid. This effort has managed to sign up about 2,100 residential and business customers with a combined capacity of 24 megawatts distributed throughout the service territory. Which isn’t bad.

Tell Your College Kids: These 4 Ag Fields Have Great Job Opportunities (jdargis)

Biological engineers deal with issues that include food processes, things like making food taste better or making it last longer; and cellular and biomolecular engineering, which concerns “finding better ways to get value from by-products or getting energy from biological materials.” The food industry is a major employer. Engel says there is also a demand in research and development for these graduates, not only in the food and pharmaceutical industries, but also in genetic engineering in plants.

Ancient permafrost sample yields another giant virus (jdargis)

This one is also large, but structured differently from the earlier find. It has a similar sized genome, at 650,000 base pairs long. That's enough to encode 523 genes, about two-thirds of which aren't related to anything we know about. Some of the remainder come from their hosts, others somehow were pulled in from bacteria, and the remainder are very distantly related to genes in other giant viruses.

Gold & Silver

Click to read the PM Daily Market Commentary: 9/11/15

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

Tall's picture
Tall
Status: Platinum Member (Offline)
Joined: Feb 18 2010
Posts: 564
Nicole Foss on the gold 'market'

...the prices of bullion are being systematically driven down by the sudden appearance and sale during thinly traded times of day and night of uncovered future contracts representing massive amounts of bullion. In the space of a few minutes or less massive amounts of gold and silver shorts are dumped into the Comex market, dramatically increasing the supply of paper claims to bullion.

If purchasers of these shorts stood for delivery, the Comex would fail.

http://www.theautomaticearth.com/2015/09/gold-follow-the-yellow-brick-road/

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4060
$1 gives you the privilege to pay increased Chicago property tax

Emanuel promotes $1 lot program as property tax hike looms

WLS-TV-16 hours ago
Since last year, Chicago has sold 430 of the over 15,000 vacant lots in its inventory and will expand $1 ... Emanuel will release his budget proposal on Sept. 22.
http://i.ytimg.com/vi/hu0Bm_HfX-s/hqdefault.jpg

 

robie robinson's picture
robie robinson
Status: Diamond Member (Offline)
Joined: Aug 25 2009
Posts: 1148
good find Tall

a good read all

sand_puppy's picture
sand_puppy
Status: Diamond Member (Offline)
Joined: Apr 13 2011
Posts: 1755
Hey, its only ONE day after 9/11 ....

If anyone has not seen this 5 minute parody of the 9/11 story I would like to recommend it as very funny. It is several years old but is a classic.

From the corbettreport.com

https://www.youtube.com/watch?t=1&v=MmbPh3u7_q0

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Trash to Cash.

Even more Good news. (Seeing it's Friday and all.)

Some entrepreneurs are turning ocean waste into sellable products.

Somebody tell them about the masticators (read it again) for sale in the Bulkans. Google doesn't want to play the game and find the companies but I did find this patent. Masticators take raw plastic, heat it up, masticate it into a consistency of bubblegum, dissolve high pressure nitrogen into it and then extrude it into a mold. The nitrogen foams up forming a closed cell structure suitable for manufacturing all sorts of strong, lightweight indestructible products. 

http://www.google.com.au/patents/US2140552

Here is the article. Something about surfers in Chile.  

http://www.takepart.com/article/2015/09/08/surfers-turn-abandoned-fishin...

With the end of oil we can expect a war to break out over this resource, ocean trash.

I hope so.  But Then again they could just make their surfboards from mushrooms. 

http://www.triplepundit.com/2013/09/circular-economy-leads-tomushroom-su...

 

 

robie robinson's picture
robie robinson
Status: Diamond Member (Offline)
Joined: Aug 25 2009
Posts: 1148
lamb

Eat more lamb 50,000 coyotes can not be wrong.

http://www.grazeonline.com/landsalmon

sheep are easily raised close to market, minimizing trans cost. proper rotation dramatically increase carbon sequestration, a group can consume quickly minimizing reefer costs. its healthy

does this sound like a sales pitch? if so ignore

 

robie robinson's picture
robie robinson
Status: Diamond Member (Offline)
Joined: Aug 25 2009
Posts: 1148
lamb

Eat more lamb 50,000 coyotes can not be wrong.

http://www.grazeonline.com/landsalmon

sheep are easily raised close to market, minimizing trans cost. proper rotation dramatically increase carbon sequestration, a group can consume quickly minimizing reefer costs. its healthy

does this sound like a sales pitch? if so ignore

 

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