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Daily Digest 10/8 - The New U.S. Real Estate Bubble, Global Financial Meltdown Coming?

Thursday, October 8, 2015, 9:36 AM


The 4 Types of Supreme Court Justices (jdargis)

eroes might be the most familiar. As believers in big, bold strokes, they do not hesitate to use the Constitution to strike down acts of Congress and state governments. They believe in big principles, and in big rulings in the service of those principles. Justice Anthony Kennedy often plays the hero. After writing several other opinions advancing gay rights over the years, he wrote the court’s opinion last term, Obergefell v. Hodges, striking down state bans against same-sex marriage. Brown v. Board of Education, invalidating racial segregation, was unquestionably heroic, as was its author, Chief Justice Warren, the iconic judicial hero.

The Radically Changing Story of the U.S. Airstrike on Afghan Hospital: From Mistake to Justification (richcabot)

But there’s something significantly different about this incident that has caused this “mistake” claim to fail. Usually, the only voices protesting or challenging the claims of the U.S. military are the foreign, non-western victims who live in the cities and villages where the bombs fall. Those are easily ignored, or dismissed as either ignorant or dishonest. Those voices barely find their way into U.S. news stories, and when they do, they are stream-rolled by the official and/or anonymous claims of the U.S. military, which are typically treated by U.S. media outlets as unassailable authority.

Global Financial Meltdown Coming? Clear Signs That The Great Derivatives Crisis Has Now Begun (Aaron M.)

Many out there get upset when I compare derivatives trading to gambling, and perhaps it would be more accurate to describe most derivatives as a form of insurance. The big financial institutions assure us that they have passed off most of the risk on these contracts to others and so there is no reason to worry according to them.

This Has Become Routine — Paul Craig Roberts (richcabot)

Also routine is Washington’s obliteration of weddings, funerals, and medical centers with bombs and drones. Two days after Obama expressed his despair, frustration and anger over the Oregon mass shootings, a US air strike hit a hospital in Kunduz, Afghanistan. According to numerous news reports, at least 19 people were killed, including 12 members of Doctors Without Borders, and another 37 wounded. The US air strike killed one person on the operating table, and intensive care patients burned to death in their beds.

The New U.S. Real Estate Bubble (Tiffany B.)

When people talk about the rebound in U.S. real estate, primarily they’re talking about luxury homes. It’s the hottest, most lucrative end of the market. Sales for houses priced above $1 million rose almost 9% last year, more than double any other price category, according to the National Association of Realtors (NAR).

Buyers from China are the ones setting those record prices. How?

Non-Farm Payrolls: There’s Not Enough Lipstick In The World To Pretty Up This Pig (richcabot)

Interestingly, after the “number” was reported, the S&P 500 futures embarked on a 40 point reversal from the 10 point gain that the Fed had managed to achieve overnight. A 40 point reversal that was not just a “flash crash” because it took several minutes to transpire. Conversely, gold had been pushed lower by Yellen’s gang and it embarked on a $33 dollar upward reversal.

U.S. to Release 6,000 Inmates From Prisons (jdargis)

“Today’s announcement is nothing short of thrilling because it carries justice,” said Jesselyn McCurdy, a senior legislative counsel at the American Civil Liberties Union. “Far too many people have lost years of their lives to draconian sentencing laws born of the failed drug war. People of color have had to bear the brunt of these misguided and cruel policies. We are overjoyed that some of the people so wronged will get their freedom back.”

Volkswagen plays down hopes of quick answers over emissions cheating (richcabot)

In written testimony to a U.S. congressional oversight panel, Volkswagen's top U.S. executive said the carmaker has withdrawn its certification application for some 2016 model year vehicles due to a software feature that should have been disclosed to U.S. and California regulators as an auxiliary emissions control device, or AECD.

Volkswagen separately identified the vehicles as 2.0-litre, 4-cylinder turbodiesel Beetles, Jettas, Golfs and Passats.

UK Gov Sees Fracking As Better Option Than Clean Energy (Tom K.)

“Subsidies have been cut and changes to planning rules mean that wind turbines should only get planning permissions if they have been clearly backed by local people,” she said. “Some have characterized these changes as motivated by ideological opposition to anything green. Nothing could be further from the truth.”

At Sky High Farm, Everything That’s Grown Goes to Food Banks (jdargis)

Sky High Farm is both a sustainable farm—whose produce is grown without pesticides or chemical fertilizers, alongside pasture-raised beef, pork, lamb, and chicken—and Colen’s home and art studio. He purchased the 40-acre plot in Columbia County, New York, two hours north of New York City, in 2011.

Gold & Silver

Click to read the PM Daily Market Commentary: 10/6/15

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."


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Repost Of Today's News

Global US dollar recession creates ill wind for emerging markets

Financial Times-6 hours ago
Dragged down by weak performances in some large emerging markets and in Europe, the global economy is this year set to post its deepest US dollar ...

Bank of Japan Cuts Production Forecast as Slack Grows in Economy

Wall Street Journal-3 hours ago
In its monthly report, the central bank clearly acknowledged for the first time that industrial output may have fallen for a second straight quarter in the three ...

Japan machinery orders fall in August, undermine BOJ optimism

Yahoo News UK-7 hours ago
Kuroda citied these figures as one reason inflation will pick up after the central bank left policy on hold on Wednesday, but the slide in machinery orders ...

Bad loans spiral in India's 'broken' banking system

Financial Times-4 hours ago
Asking for a solution to the problems of the state banks that dominate India's financial ... Indian Overseas Bank — the first time in three years the central bank has ...

ECB''s Knot: Inflation Won''t Return to 2% Anytime Soon

Nasdaq-6 hours ago
AMSTERDAM—The European Central Bank will likely need more time to reach its inflation rate target of just below 2%, ECB governing council member Klaas ...

German Exports Slump Most Since 2009 Recession as Risks Rise

Bloomberg-6 hours ago
Any further stimulus by the European Central Bank could also prove a boon if it pushes down the euro, making German products more competitive.

Russia Considering Pension System Alternatives as Deficit Widens

Bloomberg-11 hours ago
The central bank may announce the alternative to the current pension savings system within a month, Sergey Shvetsov, first deputy central bank governor, told ...

Former IMF chief economist backs 'people's QE'

Reuters-13 hours ago
Quantitative easing, where central banks buy assets such as government bonds from banks in exchange for newly created money, has been used in the euro ...

Lew rules out letting Congress extract 'unacceptable' policies to lift ...

Reuters-2 hours ago
The federal government is currently scraping just under its $18 trillion legal debt cap, with political wrangling over fiscal policy putting Washington at risk of not ...

Concern Grows That the IMF May Be Overstretched

New York Times-5 hours ago
Driving these global concerns is the fear that the dollar-based debt in large ... that corporate debt levels had soared to $18 trillion from $4 trillion 10 years ago.

Saudi Arabia Said to Order Spending Curbs Amid Oil Price Slump

Bloomberg-2 hours ago
While public debt is among the world's lowest, with a gross debt-to-GDP ratio of ... The kingdom's net foreign assets fell for a seventh month to $654.5 billion in ...

Analysts say major U.S. banks on hook to Glencore

CNBC-15 hours ago
And the company is now undertaking a debt-reduction program that aims to trim net debt from roughly $30 billion as of late June to $24 billion by the end of the ...

IMF: Greece Might Need More Measures to Cover Primary Deficit

Greek Reporter-6 hours ago
IMF: Greece Might Need More Measures to Cover Primary Deficit ... 1.35 billion euros to cover the difference between the 0.5 percent primary deficit for 2015 and ...

Chicago Motor Fuel Bonds Cut to BBB+ by S&P on State Impasse

Bloomberg-24 minutes ago
The credit rating of Chicago's motor fuel tax bonds was slashed six levels by Standard & Poor's to BBB+, three steps above junk, as the Illinois budget impasse ...

European Central Bank Moves Closer to Boosting or Extending ...

TheStreet.com-13 minutes ago
Although the bond-buying program has nearly a year left, there are growing signs that the ECB may do another round of stimulus -- and that it could be bigger ...

Wyoming Budget In Trouble

KGWN - ‎14 hours ago‎
Wyoming could be facing a deficit of up to two hundred million dollars. "We're going to have to tighten our belts, and tighten our belts a lot," said Governor Mead. A discussion has begun but what will be cut first is still unclear. "What programs can ...

Brazil group sees couple of tough years ahead for pension funds

Reuters-17 hours ago
Over the past 10 years, pension funds returned 214 percent, compared with the ... borrowing costs, Chief Investment Officer Jorge Simino said in September.
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Study- Increase in thyroid cancer among Fukushima children

A new study says children living near the Fukushima nuclear meltdowns have been diagnosed with thyroid cancer at a rate 20 to 50 times that of children elsewhere, a difference the authors contend undermines the government's position that more cases have been discovered in the area only because of stringent monitoring.

Most of the 370,000 children in Fukushima prefecture (state) have been given ultrasound checkups since the March 2011 meltdowns at the tsunami-ravaged Fukushima Dai-ichi nuclear plant. The most recent statistics, released in August, show that thyroid cancer is suspected or confirmed in 137 of those children, a number that rose by 25 from a year earlier. Elsewhere, the disease occurs in only about one or two of every million children per year, by some estimates.


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Rail Bikes

I saw this article today and thought it was an interesting idea, not necessarily for the "tourist attraction" aspect but as a potential means of post-great reset, personal mobility (assuming the necessary infrastructure is nearby and intact).  I'm thinking a handy, DIY'er could probably put something workable together after a trip to the local junkyard.


Or maybe you already have one of these in the shed.




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Fed''s Kocherlakota Open to Lowering Fed Target Range ''Even Fur

Kocherlakota Says Fed Should Consider Negative Interest Rates

Bloomberg - ‎51 minutes ago‎
The Federal Reserve should consider ways to make monetary policy more accommodative, including negative interest rates, said Minneapolis Fed President Narayana Kocherlakota. "I don't see raising the target range for the fed funds rate above its current ...

Fed''s Kocherlakota Open to Lowering Fed Target Range ''Even Further'' -- Update

Nasdaq - ‎22 minutes ago‎
Then, a strong majority of Fed officials predicted that they would raise the interest-rate target by the end of the year, against one unnamed policy maker who favored pushing rates into negative territory. At the Fed's news conference after the Federal ...
One really has to dig deep to find a more stupid idea than Narayana Kocherlakota's:
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Way cool, Dennis!!

Now if I can only get my son to go for converting his go-cart...

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Quotes from Jesse's Cafe Americain


“The sense of responsibility in the financial community for the community as a whole is not small. It is nearly nil.”

John Kenneth Galbraith, The Great Crash of 1929

And http://jessescrossroadscafe.blogspot.com/2015/10/gold-daily-and-silver-weekly-charts_8.html

"The terrible, cold, cruel part is Wall Street. Rivers of gold flow there from all over the earth, and death comes with it. There, as nowhere else, you feel a total absence of the spirit: herds of men who cannot count past three, herds more who cannot get past six, scorn for pure science and demoniacal respect for the present.

And the terrible thing is that the crowd that fills the Street believes that the world will always be the same, and that it is their duty to keep that huge machine running, day and night, forever."

Federico Garcia Lorca


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Spiritual Resilience: Friday GOOD news report

The other day while in Barnes and Noble looking for Peter Schiff's book, The Real Crash, I came across a small paperback titled A Religion of One's Own: A Guide to Creating a Personal Spirituality in a Secular World, by Thomas Moore, one of my favorite authors (Care of the Soul; Dark Nights of the Soul).

After reading a few chapters I became intensely aware that in the last few years I have shifted from concentrating on the "spiritual/mystical" resilience side to the almost purely "financial/survivalist/geo-political" side.
So, in essence I was not continuing to feed my soul!!
I also wondered how many of you at PP.com have felt the same.
Sure, we mention "spirituality" now and then but the overarching posts are about money, the market, signs of collapse, "how-to-survive the next crash," reading innumerable financial newsletters or watching similar videos, etc.  Yes, the environment does get a good play too.
But Energy and Economy are the biggies.
Since traditional religion and/or spirituality may have a "bad" name with many folks, perhaps, Moore's contention that we might need a PERSONALIZED religion or spirituality could speak volumes to us.
The more I deal with all the "financialization" of the world, the more I feel divorced from the scared, the mystical, the wonder/awe of it all.
What happened to the meaning, the purpose, the mysteriousness of my life? Pushed into the background?
On page 6, we find: "The more traditions I study and borrow from, the deeper my spiritual life becomes." And as Pierre Teilhard de Chardin suggests: "We are not human beings having a spiritual experience.  We are spiritual beings having a human experience."
So, if God is everywhere and nowhere, how does that Original Energy enter into our EEE outlook?  As information scouts, I feel that all of us are doing "spiritual" work by helping people awake to the possible 
collapse of the financial underpinnings of their world, with untold suffering in store for many souls.  Would that the masses could afford to buy enough poor man's silver or accumulate enough cash to help them 
get through whatever will come--but it does not seem possible, giving all the analyses we post here and everywhere. (Over 50% of citizens have about $1,000 in savings!!)  And see NYTimes today, Business Day, "Gathering to Evaluate Preparedness in Fiscal Crisis," by Landon Thomas-- mainstream is finally catching up to non-mainstream publications.
Is spiritual preparation, therefore, the best they can hope for?  And if traditional religion/spirituality doesn't do it for them, MIGHT the advice of CREATING their very OWN Personalized religion/spirituality be something to offer them, a la Moore's excellent work?
I offer an aphorism I wrote some years back:  'Walking between Two Worlds"
(see www.AwarenessCenters.com, clink onto Spiritual Poetry for 3 small volumes, written by an Ex-Jesuit).


NOTE: Listening, frequently, to Tolle's audio tapes, these contrasts arose

Walking Between Two Worlds:
Phenomenal vs. Noumenal

Phenomenal Aspects

physical existence
thinking mind/
practical mind
mind/no mind
personal intelligence
will/no will
mental noise/
sense sensations
outer state/
inner state
old consciousness/
new consciousness
present time
creative insight
object consciousness

path.jpg Noumenal Reality

what exists

what is

Beyond Mind
greater Intelligence
beyond identity


it is, as it is


IT happens
know directly
Aware Presence

The unreal and the Real,
The unreal "reality" and the "real Reality"
    asleep and awake
Thanks be to Buddha; and, to Jesus,
    properly understood.


  1. Destiny: that which is predetermined; Fate: that which is changeable and subject to free will.


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Landlords will hike rents by 8% this year


Landlords will hike rents by 8% this year


Italy's industrial production slips in August


The global economy is in serious danger

No room for mistakes by central banks amid 'new mediocre'

Reuters-19 hours ago
The IMF meeting comes as the Bank of Japan looks poised to extend its money ... The European Central Bank is also expected to extend quantitative easing, ...

Draghi Says Emerging-Market Slowdown Poses Fresh Risk for Europe

Bloomberg - ‎2 hours ago‎
Slowing growth in emerging markets and slumping commodity prices are posing fresh challenges to the euro-area economy, which may need to be countered by adjustments to quantitative easing, European Central Bank President Mario Draghi said.

Russian car sales plunge as automakers raise prices

Automotive News-5 hours ago
While annual consumer-price growth eased to 15.7 percent in September, it remains almost fourfold the central bank's mid- term target of 4 percent.

Japan, China, Korea Call for Vigilance on Disappointing Global ...

Jakarta Globe-8 hours ago
... Kyung-hwan meet during the 2015 IMF/World Bank Annual Meetings in Lima, ... economic growth on track," the finance ministers and central bank governors ...

China Sept data likely to show further economic weakness

Reuters-8 hours ago
... weeks is likely to point to further weakness in the world's second-largest economy, reinforcing expectations that Beijing will roll out more stimulus measures to ...

BOJ's Kuroda: Emerging economies' slowdown harming Japan ...

Reuters-19 hours ago
The BOJ held off on expanding stimulus on Wednesday, even as slumping exports and falling oil prices threaten its rosy projection that the economy is on track ...

A U.S. Recession Just Got a Little More Likely

Bloomberg-4 hours ago
A delayed Federal Reserve rate hike, turmoil in global equity markets... and now increased expectations for a downturn in the U.S.. The probability that the ...

Alberta recession to see provincial GDP shrink by 1.4% this year: TD

CBC.ca-22 hours ago
Alberta is in a recession and will see its GDP contract by about 1.4 per cent in 2015, according to a new report from TD Economics. The report blames the ...

China slowdown may cause Latin American recession

Taipei Times-Oct 8, 2015
Latin America's economy is likely to go into recession this year for the first time since the end of the global financial crisis as China's slowdown lessens demand ...

China Faces Default Chain Reaction as Credit Guarantees Backfire

Bloomberg-8 hours ago
China's guarantee firms backed 2.6 trillion yuan of loans as of end-2014, an 18 ... said that while he would accept a lower yield on debt supported by a strong ...

Maturing Junk Debt Poses $9 Billion Test for Europe's Miners

Bloomberg-4 hours ago
New headwinds are facing Europe's miners as they try to ride out the commodities slump -- $9 billion of junk-rated debt coming due. That's how much firms ...

Russian $2.7 Billion Defense Spending Push Raises Deficit Target

Bloomberg-Oct 8, 2015
The government will reinstate 165 billion rubles ($2.7 billion) in spending on defense and ... That will swell next year's deficit to 2.4 trillion rubles, or 3 percent of ...


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