Daily Digest

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Daily Digest 10/12 - Rethinking Columbus Day, You Should Still Buy A Hybrid

Monday, October 12, 2015, 10:36 AM

Economy

Rethinking History Class on Columbus Day (jdargis)

Today, over 500 years after he sailed the ocean blue, Columbus is equally derided and praised. Starting with Berkeley, California, in 1992, cities started renaming the second Monday in October “Indigenous People's Day” to shift focus from the conqueror to the conquered. Since August, eight cities have replaced Columbus Day with Indigenous Peoples' Day, including several in just the last week. This follows both Minneapolis and Seattle that adopted the new name in 2014, with a bevy of Native American groups and progressive activists applauding the changes.

It's Glencore Versus Goldman in Metals as Miners Cut Production (jdargis)

"China is the central issue," David Lilley, the co-founder of Red Kite, which oversees $2 billion, said in an interview. "However, it is noteworthy that the current conditions in the copper market are actually considerably better than most market commentary. Demand has been disappointing, but supply has also been worse than expected.”

Tantalizing Stupidity and the Case for Gold (richcabot)

Although negative rates have a “Dr. Strangelove” feel, pushing rates into negative territory works in many ways just like a regular decline in interest rates that we’re all used to, said Miles Kimball, an economics professor at the University of Michigan and an advocate of negative rates.

Malaysia & the ECM Turning Point & Goldman Sachs (Aaron M.)

Then this financial mess gets even more convoluted. Abu Dhabi is in the mix through IPIC established in the 1980’s to focus on energy investments. For some strange reason, they have been a supporter of Malaysia as part of its expansion to developing countries and so has already offered financial support. The Abu Dhabi government-owned investment firm revealed that it would pay US$102.7 million in interest payments due this month and next month on two $1.75 billion bonds issued by 1MDB units which are co-guaranteed by IPIC.

Matt Drudge Drops Bombshell Warning in Surprise Interview — “I had a Supreme Court Justice say to me it’s over” (Aaron M.)

“I had a Supreme Court Justice tell me it’s over for me,” said Drudge. “They’ve got the votes now to enforce copyright law, you’re out of there. They’re going to make it so you can’t even use headlines.”

“To have a Supreme Court Justice say to me it’s over, they’ve got the votes, which means time is limited,” he added, noting that a day was coming when simply operating an independent website could be outlawed.

Yes, Gas Is Cheap. You Should Still Buy a Hybrid. (jdargis)

Of course, this consumer behavior is entirely predictable and seemingly rational. The price of gasoline is loudly and persistently advertised in public; we all notice its changes. When drivers see gas at $4.50 a gallon, they realize it makes economic sense to purchase a vehicle that gets better mileage than the one they’ve been driving. When they see gas nearing $2 a gallon, they’ll fret less about mpg and be more easily seduced by factors such as power, size, comfort, and utility.

Can Tesla Deliver A Self-Driving Electric Car Before 2020? (Tom K.)

Tesla Motors might just succeed in bringing out a model that could come close to its stated 745 mile range (in controlled conditions though), thanks to the new batteries that will be manufactured at the Gigafactory. However, the claim of ‘self-driving technology’ is a much more uncertain proposition, as it might take longer to resolve certain technical issues related to sensors and the federal laws associated with self-driving technology. Tesla Motors is currently testing its Autopilot system which it hopes to launch (partially) in the next few months. However, Tesla Motors is not the only one that is gunning for the ‘Self driving’ technology.

VW Recalls Diesel Vehicles in China to Correct Emissions (jdargis)

Diesel is widely used in trucks in the world's second-largest economy, but powered just 0.3 percent of autos sold last year in China, or a few thousand units.

Volkswagen is, along with General Motors Co., one of the most popular vehicle brands in China, but is struggling with an unexpectedly sharp downturn in the market and fast-changing consumer tastes.

Gold & Silver

Click to read the PM Daily Market Commentary: 10/9/15

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."

3 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4167
China's Central Bank Expands New-Style Easing

China's Central Bank Expands New-Style Easing

Wall Street Journal-4 hours ago
BEIJING—China's central bank is expanding an unconventional easing program to boost bank lending, stepping up its repertoire of monetary-stimulus ...

China Markets Rally on Stimulus--and Hopes More Will Follow

Wall Street Journal-8 hours ago
Chinese markets rallied Monday after the central bank announced fresh stimulus to boost the economy, and expectations build that more could be on the way.

ECB stimulus talk pledges euro-area shield from global gloom

Chicago Tribune - ‎1 hour ago‎
LIMA, Peru - Mario Draghi is reminding the world that the euro area has a trillion-euro comfort blanket. While some major central banks feel the chill of a global emerging-market slowdown over their plans to tighten policy, the European Central Bank ...

Chinese finance minister says U.S. shouldn’t raise rates yet

 

It’s not yet a good time for the U.S. to hike its interest rates as the global economy is still sluggish, said Chinese Finance Minister Lou Jiwei over the weekend at the International Monetary Fund’s annual meeting, according to a South China Morning Post report. “The U.S. should bear more global responsibility and is not yet in the condition for an interest rate hike,” Jiwei said, according to the report, which said his comments indicate Beijing’s unease about the impact that the move might have on the Chinese economy. Jiwei’s comments differ from remarks made at the IMF meeting by other emerging-markets officials, who urged the U.S. Federal Reserve to stop dithering on rate hikes.

EU Says Spain's Budget Plans Would Break Spending Rules

Wall Street Journal-1 hour ago
The EU introduced new and stricter fiscal rules for countries using the euro in 2013 as a response to the sovereign debt crisis, which put future of the eurozone in ...
 

Facing a huge deficit, Pennsylvania eyes gambling for help

CNBC-6 hours ago
Exploring the possibility should come before lawmakers raise taxes, he said Wednesday after the House defeated a $2.4 billion tax package presented by Gov.

Saudi state claws back unspent money as finances tighten

Reuters - ‎3 hours ago‎
The International Monetary Fund and private analysts calculate Saudi Arabia may run a record budget deficit of $120 billion or more this year; to pay its bills, the government has sold over $80 billion of foreign assets since August last year. Around ...

Petrodollars withdrawn from markets

Taipei Times - ‎43 minutes ago‎
Since May, the Saudi Arabian Monetary Authority has sold US$1.2 billion worth of equities across Nasdaq's European client base. That accounts for 13 ... The IMF has warned of the Saudi deficit — estimated at about 20 percent of GDP this year. The ...

Singapore expected to ease monetary policy to fight recession

Malay Mail Online - ‎9 hours ago‎
The Monetary Authority of Singapore will have good reason, according to analysts, to adopt monetary easing measures to stimulate an economy heading into recession. — File picSINGAPORE, Oct 12 — Singapore's central bank is expected to ease monetary ...

Brazil's 'new middle class' struggles as economy plunges

Reuters-59 minutes ago
With the economy in recession and her husband's job at an auto-parts factory uncertain because of growing cutbacks among local carmakers, trips to the mall for ...

Indonesia to unveil stimulus plan on Thursday

New Kerala-4 hours ago
The Indonesian government is to announce the fourth batch of economic stimulus measures on Thursday to lure investment and revive economy, officials said ...

 

JWinders's picture
JWinders
Status: Member (Offline)
Joined: Aug 31 2014
Posts: 5
Weev on Musk

ELON MUSK IS AN OBVIOUS FRAUD

"The seemingly limitless capacity of men to be utterly consumed by the foolish worship of idols can cost billions of dollars. Often a huckster with a veneer of unshakable confidence comes along and the social cost of his fraud becomes a burden to civilization at large. So powerful is the allure of personality cults to investors that many of those that many of the same funds that have lost fortunes to them will instantly jump into bed with another."

LesPhelps's picture
LesPhelps
Status: Platinum Member (Offline)
Joined: Apr 30 2009
Posts: 800
Rethinking HIstory?

Society is far from perfect.  My dream society would value, hire or promote a person independent of their race, gender or sexual orientation.  I think we might have atually been headed that direction many years ago.  Then came the divresity initiative.

The diversity movement would tell you it's about equal recognition and opportunity.  

My first recollection of the diversity initiative occurred about 25 years ago, when the company I worked for sent out a letter stating that they would be giving preferential treatment to minorities and females in future hiring and promotion events.  That letter was never rescinded.  

The first speach I recall where a diversity speaker told the audience that "we should feel included," was around 15 years ago.  Included how?  Does every race, gender and sexual orientation get equal opportunities in the workplace?  Is there a history week or month for every race, gender and sexual orientation?  If not, there IS no inclusion.  Don't waste my time telling me otherwise.

Sorry, I'm just pining for the day when we were shooting for equal opportunity for everyone.  Those days are long gone.  In the Midwest, there are special hunting, fishing, harvesting, gambling and tax laws based on race.

I am told I am supposed to feel guilty and yet, I was born in the United States.  My father was born in the United States as was his father.  None of my ancestors were slave owners in the Unites States, nor did any of them take land from or fight the indigenous peoples of America.y

I'd like to see history changed to recognize INDIVIDUALS based on their contribution, not their race.  If not Columbus, how about Sir Isaac Newton, Richard Feynman, Maria Goeppert-Mayer or Max Planck?

I vote for the return of equal opportunity.  At some point, lets put the past to bed and start thinking about what we need to change today.

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