Daily Digest

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Daily Digest 10/16 - Good News Friday: Building A Farm Sharing Economy, Naval Academy Reinstates Celestial Navigation

Friday, October 16, 2015, 10:20 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

Facebook can be blocked from passing data to US after treaty ruled invalid (Aaron M.)

The judgment requires the Irish authority “to decide whether... transfer of the data of Facebook’s European subscribers to the United States should be suspended on the ground that that country does not afford an adequate level of protection of personal data,” the ECJ said.

Three Years Ago, These Chicago Workers Took Over a Window Factory. Today, They're Thriving (Michael W.)

The New Era Windows and Doors Cooperative has been in operation since 2013. It hasn’t been easy, but the worker-owners have learned together how to operate their own business. And then there were the meetings: “It was difficult to make decisions together,” Robles said. “But it’s kind of fun, because at the end of the day it’s for the benefit of everyone.”

Stronger Economy Cited as U.S. Reports Lowest Budget Deficit of Obama’s Tenure (jdargis)

But the good news came amid uncertainty over whether the White House would be able to strike a budget deal with Republicans to keep the government functioning beyond a December deadline. The administration is also trying to garner support to raise the debt limit before Nov. 3, the date when Mr. Lew said the government would exhaust its ability to borrow.

The Democratic Presidential Candidates Declared War on Unfettered Capitalism (jdargis)

Republicans like to accuse Democrats of opposing free enterprise and morality. But in this debate, the Democratic candidates spoke of morality as a check on capitalism. “What democratic socialism is about,” Sanders declared, is “that it is immoral and wrong that the top one-tenth of 1 percent in this country … own almost as much wealth as the bottom 90 percent.” Sanders invoked Pope Francis, asserting that “we have a moral responsibility to transform our energy system away from fossil fuel … and leave this planet a habitable planet for our children and our grandchildren.” The candidates also demanded other restraints on capitalism: a higher minimum wage, equal pay for women, and paid family and medical leave.

Seeing stars, again: Naval Academy reinstates celestial navigation (jdargis)

Among the fleet, the Navy ended all training in celestial navigation in 2006, said Lt. Cmdr. Kate Meadows, a Navy spokeswoman. Then officers' training returned in 2011 for ship navigators, she said. And officials are now rebuilding the program for enlisted ranks; it's expected to begin next fall.

"There's about 10 years when the Navy didn't teach to celestial," said Rogers, the Naval Academy instructor. "New lieutenants, they don't have that instruction."

Cropland in the US Midwest may limit extreme high temperatures (jdargis)

This team of researchers looked at days in the 95th temperature percentile during June, July, and August starting in 1910 and running through 2014. They excluded the 1930's—the Dust Bowl era—as well as the 1970s, 1980s, and 1990s, since this was a period of aerosol-induced cooling in the entire eastern United States. But even barring those years, the researchers noticed that the temperatures on these hottest days during the growing season have cooled and rainfall has increased. This happened despite the fact that temperatures across the US have warmed over this time period.

How Growing More Weed Can Help California Fix Its Water Problems (jdargis)

Marijuana regulation is going to have a massive effect on California’s water problems, but not in the way you might think. This is the state’s unique opportunity to start a new kind of economy-stimulating water policy from the ground up that also protects the environment. It’s a chance to orient the state’s water management towards a drought-proof future.

Farmers’ Guilds: Building a Sharing Economy Down on the Farm (jdargis)

The makeup of the Local Growers’ Guild is a mix of young and older folks as well as first-timers and those who come from farming families. Jones herself is an eighth-generation farmer who recently returned to agriculture after a career as a business consultant. She now grows 40 different varieties of berries, among other produce, on close to 11 acres in Columbus, Indiana. “We have a recognizable percentage of people who have been in corporate America. They’re hitting their 50s and are tired of the rat race and are now farming,” she says.

Gold & Silver

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

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."

10 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Online)
Joined: Jul 30 2009
Posts: 4066
More global stimulus.....More gold for China

 

ECB Stimulus View Helps Drive Bonds and Stocks Higher Together

Bloomberg-2 hours ago
Persistent speculation that the European Central Bank will consider additional monetary stimulus is causing euro-area government bonds to rise in tandem with ...

Here comes more QE in Europe as ECB combats deflation

MarketWatch - ‎3 hours ago‎
With the closely watched ECB meeting coming up next week, investors are now speculating about when the central bank will make a further stimulus move, rather than if such a move could happen. That notion was hammered home this week when data ...

Hong Kong shares post 3rd week of gains, aided by Beijing stimulus hopes

Reuters - ‎7 hours ago‎
Oct 16 Hong Kong shares rose to a two-month high on Friday, on hopes for more stimulus moves by Beijing and rising expectations that the United States won't raise interest rates this year. The Hang Seng index rose 0.8 percent to 23,067.37. The China ...

 

Why the federal government now holds nearly 50% of all residential mortgages

 

Banks' Record Treasuries Stockpile Boosts Case for Fed to Hold

Bloomberg-8 hours ago
U.S. banks are gorging on Treasuries in the latest sign investors expect the Federal ... The stake is almost double the amount owned by China, the biggest U.S. ...

Investors eye delay to US rate lift-off (FT)

Fed policymaker says America’s economy may be slowing

Bond market now divided over whether Fed will lift even in March

Chicago Tribune - ‎Oct 14, 2015‎
NEW YORK _ First Treasuries traders were banking on September for the Federal Reserve to raise interest rates. Then they turned their focus to ... This week, a decline in Chinese imports underscored the headwinds to global growth. While some Fed ...

Negative rates work their way on to radar for a few at the Fed

Reuters - ‎22 hours ago‎
Some Fed officials also appear to have reconsidered a stimulus tool that had been dismissed as too risky: negative interest rates. At least six current Fed policymakers over the last two weeks have publicly discussed charging banks to park funds at the ...

Rupiah Heads for Weekly Drop After Central Bank Signals Rate Cut

Bloomberg - ‎6 hours ago‎
The rupiah completed a weekly loss after Bank Indonesia said it sees greater scope to loosen monetary policy after the currency rebounded sharply this month. The central bank held its policy rate at 7.5 percent late on Thursday in a decision predicted ...
 

UPDATE 1-Brazil August economic activity plunges 4.47 pct vs year earlier

Reuters - ‎3 hours ago‎
The Brazilian central bank's IBC-Br economic activity index, a gauge of activity in the farming, industry and services sectors, fell 0.76 percent in August from the prior month. The median forecast in a Reuters survey of 17 analysts was for a 0.60 ...

Brazil home sales, deliveries slump as recession worsens

ETRealty.com-6 hours ago
SAO PAULO: Quarterly sales, deliveries and supply of new homes in Brazil fell to their lowest level in at least 1 1/2 years in August, reflecting the impact of the ...

Brazil's Real Weakens on Report Government Planning for Deficit

Bloomberg-3 hours ago
As of the second quarter, high-grade companies tracked by JPMorgan incurred $119 billion in interest expenses over the last year, the most for data going back ...

Fitch Downgrades the City of Rio de Janeiro's Ratings to 'BBB-'; Outlook Negative

MarketWatch - ‎1 hour ago‎
The increases are explained by Rio's decision to partially fund the actuarial pension deficit with additional contributions to Funprevi (Fundo Especial de Previdencia do Municipio do Rio de Janeiro), its proprietary pension system created in 2001 and ...

China gold reserves rise to 54.93 mln fine troy oz - central bank

Reuters-6 hours ago
BEIJING Oct 16 China's gold reserves stood at 54.93 million fine troy ounces at the end of September, up from 54.45 million at the end of August, the central ...

UPDATE 1-China adds more gold to reserves in September

Reuters - ‎4 hours ago‎
SINGAPORE Oct 16 (Reuters) - China increased its gold holdings by nearly 1 percent in September even as total foreign exchange reserves dipped, central bank data showed on Friday. Gold reserves rose by 480,000 fine troy ounces, or 14.9 tonnes, to 54.93 ...

RBA Sees Signs Home Market Slowing, Oversupply in Some Areas

Bloomberg - ‎14 hours ago‎
Australia's over-heated housing market could be starting to slow while rapid home construction in some areas is creating an oversupply, the central bank said in its semiannual assessment of risks to the country's financial system. “There have been ...

Moody's Sounds Alarm on Russian Fiscal Woes Draining Buffers

Bloomberg-18 hours ago
“It doesn't have a lot of debt, but it also is actively depleting its saving buffers, with ... Next year's budget deficit is set to reach 2.4 trillion rubles ($39 billion), or 3 ...

Russia's Growing Rate-Cut Bets Drive Best Bond Rally Since 2010

Bloomberg-5 hours ago
Russian government bonds rose, extending the longest stretch of weekly gains since 2010, as the ruble's rally boosted speculation the central bank will resume ...
 

Nikkei rises on US data, stimulus hopes; sheds 0.8 pct on week

Reuters-9 hours ago
The relatively subdued trading reflected some caution ahead of European Central Bank's policy meeting on Oct. 22, followed by the U.S. Federal Reserve's ...

Thai private sector says stimulus package will bear fruit next year

ThaiVisa News-10 hours ago
BANGKOK: — The private sector says the government's economic stimulus packages rolled out recently is a right decision although it may not see immediate ...

Emerging Nations Trimming $5 Trillion Debt Stokes Currency Risk

Bloomberg-2 hours ago

Companies in developing nations paid back $38 billion of dollar debt last quarter, $3 billion more than they borrowed in the period and marking the first .

S&P warns of defaults after Indonesia telecoms firm seeks debt ...

Reuters-6 hours ago
"A default in Singapore's local currency corporate bond market is so rare that investors will keenly watch the outcome of Trikomsel's potential debt restructuring," ...

US Treasury to Sell $59 Billion in Debt Next Week

Wall Street Journal-18 hours ago
The Treasury Department will auction $59 billion in securities next week, comprising $26 billion in new debt and $33 billion in previously auctioned debt. Details ...

Robocalls Emerge As Latest Fix For Nation's Student Loan Crisis

Huffington Post-17 hours ago
With total student debt nearing $1.3 trillion and 1 in 4 borrowers either delinquent or in default, according to the Federal Reserve and the Consumer Financial ...

Stanford project offers insights on unfunded public pension liabilities ...

Stanford University News-Oct 15, 2015
Stanford researcher Joe Nation's new project offers a wealth of information about unfunded pension liabilities in California's cities, counties and special districts.

New York City pension fund returns plunge

Crain's New York Business (blog) - ‎21 hours ago‎
The poor returns mean the city will have to spend billions of dollars more in pension contributions. And with markets down so much this year, the city's pension funds may soon be an increasingly severe budget problem. The fiscal 2014 investment gain of ...

State overseer willing to release money to Pittsburgh, but mayor ...

Tribune-Review-Oct 15, 2015
The $5.8 million must be used to help offset $1.1 billion in unfunded city employee pension liabilities. “We have very, and I stress very, reasonably held a portion ...

Emanuel wants higher boot fees, 'self-release' boots

Chicago Sun-Times-13 hours ago
... so we are raising the fines to better align with the costs of booting a vehicle,” ..... facing a massive property tax increase to solve a $30 billion pension crisis.

Emanuel details changes to business side of 'cloud tax'

Chicago Tribune-3 hours ago
In September, ahead of his budget hearing and weeks after the nonprofit Liberty ... David Hughes, a lawyer specializing in state and local tax at Chicago firm ...

Illinois Lottery delays payment of all winnings over $600 (copy)

The Southern - ‎12 hours ago‎
Wednesday's announcement came the same day that state Comptroller Leslie Munger said the budget impasse means next month's $560 million payment to Illinois' pension system will be delayed. She said retirees will still receive benefit checks as ...

Illinois past due on power bill

OurQuadCities-17 hours ago
The state owes Springfield's Public Utility Company $2.7 million but there's no money to pay for it because there's no budget. A disconnection notice was sent ...

Retired truck drivers could see their pension checks cut in half

WQAD.com-19 minutes ago
The fund is on the brink of insolvency and says it needs to cut benefits for 273,000 ... He and his wife live on his pension and their Social Security benefits.

 

Doug's picture
Doug
Status: Diamond Member (Offline)
Joined: Oct 1 2008
Posts: 3125
CTers

For all of you who are given to believing any conspiracy theory that comes down the pike, here's one that is reality based and can be traced up to the highest levels of the Bush II administration, specifically to Karl Rove;

A former Alabama governor has been languishhing in jail based on a totally fraudulent prosecution.  60 Minutes did a piece on it:

 http://www.cbsnews.com/videos/the-prosecution-of-siegelman/

But, the governor is still in prison.  As recently as yesterday there is a report that the prison system is threatening further punishment of the former governor because he gave an interview to Thom Hartmann.  It is currently being discussed on the Thom Hartmann program on Free Speech TV.  You might be able to find the program at:  https://www.freespeech.org/collection/thom-hartmann-program. 

Get those CT juices flowing and do something about it.  I particularly encourage you to watch the youtube video.

 

 

 

 

SingleSpeak's picture
SingleSpeak
Status: Gold Member (Offline)
Joined: Nov 30 2008
Posts: 496
UPS 5% increase in 2016

2016 just got a little more expensive. Put your recovery plans on hold. blush

Dear UPS Customer,

We are dedicated to helping you optimize your supply chain and achieve your business goals. This year, we've made investments in the speed, scope and coverage of our transportation network. To support ongoing expansion and capabilities enhancements, while striving to maintain the high service levels you expect from UPS, we will increase published rates.

2016 rates information
Effective December 28, 2015*, the following increases will take effect.

• 

The rates for UPS® Ground services and accessorials will increase an average net 4.9%.

 

• 

The rates for UPS Air and International services and accessorials will increase an average net 5.2%. UPS Air Freight rates and accessorials within and between the U.S., Canada and Puerto Rico will increase an average net 5.2%.

UPS Freight® rates will increase an average net 4.9%, effective October 26, 2015.

Other changes

• 

On November 2, 2015, the Over Maximum Limits fee will increase to $110 for packages in the UPS system that are above the maximum weight or size.

 

• 

Beginning January 4, 2016, there will be a charge for UPS's Third-Party Billing Service.

For additional information, and to review these new rates today, visit ups.com/rates. The 2016 UPS Rate and Service Guide will be available to download on December 28, 2015. 

Bankers Slave's picture
Bankers Slave
Status: Platinum Member (Offline)
Joined: Jul 26 2012
Posts: 519
Reality based conspiracy theory!

That is a contradiction in terms. Exactly what "conspiracy theories that come down the pike" are you referring to? 

Just curious thanks!

cmartenson's picture
cmartenson
Status: Diamond Member (Online)
Joined: Jun 7 2007
Posts: 5570
Wow. That's awful.
Doug wrote:

But, the governor is still in prison.  As recently as yesterday there is a report that the prison system is threatening further punishment of the former governor because he gave an interview to Thom Hartmann.  It is currently being discussed on the Thom Hartmann program on Free Speech TV.  You might be able to find the program at:  https://www.freespeech.org/collection/thom-hartmann-program. 

Truly a disturbing video...showing exactly the sort of slime and corruption that powerful people get away with all the time.

Disturbing too because if you can do that to a Governor, there's no hope of avoiding them for the rest of us...if they want you, you're done.

My solution to such prosecutorial misconduct is simple; if you bring false charges and get caught doing so, you have to serve the maximum sentence for the charges brought, with no parole and no leniency.

MarkM's picture
MarkM
Status: Platinum Member (Offline)
Joined: Jul 22 2008
Posts: 837
cmartenson wrote: ...if they
cmartenson wrote:

...if they want you, you're done

Period, end of discussion.

Doug's picture
Doug
Status: Diamond Member (Offline)
Joined: Oct 1 2008
Posts: 3125
2:05:45

The interview at Thom Hartmann begins at about 2:05:45 of the video for 10/15/15.

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Online)
Joined: Jul 30 2009
Posts: 4066
Swiss bank ABS plans negative interest rates for some depositors

Swiss bank ABS plans negative interest rates for some depositors

Reuters-39 minutes ago

"On transactional accounts ... there will be negative interest rates of -0.125 percent from the first franc," the ABS spokeswoman said, adding that this would come .

Fitch: Higher Default Rates Expected For US Coal Sector

MarketWatch - ‎Oct 15, 2015‎
The wave of bankruptcies in the U.S. coal space has caused the broader metals/mining (M&M) sector default rate to rise to double digits for high yield bond and leveraged loan indices. A spate of coal defaults has resulted from unsustainably high debt ...

Gonzalez: Puerto Rican leaders call on US for help with looming $72B default

New York Daily News - ‎12 hours ago‎
With time running out before a looming default by Puerto Rico on its massive $72 billion in public debt, Puerto Rican leaders in the U.S. held an emergency summit in Florida this week hoping to ramp up pressure on Congress and President Obama to come ...

 

Tall's picture
Tall
Status: Platinum Member (Offline)
Joined: Feb 18 2010
Posts: 564
Why You Didn’t See It Coming

Both $1 million and $1 billion sound like “a lot,” // Even those who understand the true scale of the chasm between those numbers intellectually don’t always “get it” viscerally. It feels like the difference between a million and a billion is closer to a factor of three than a factor of 1,000. That’s because our brain naturally works using something like a logarithmic scale, so that it can condense information like vast ranges in loudness and brightness efficiently.

That can get us into trouble—coming to grips with pressing environmental problems, for example. The late physicist Albert Bartlett was concerned that people didn’t fully comprehend the consequences of exponential population growth and the inevitability (and speed) of resource depletion. “The greatest shortcoming of the human race,” he said, “is our inability to understand the exponential function”

http://nautil.us/issue/29/scaling/why-you-didnt-see-it-coming

Cornelius999's picture
Cornelius999
Status: Gold Member (Offline)
Joined: Oct 17 2008
Posts: 373
Gov Siegelman

....I weep for you America, and because of you, for us all....but because despair crushes, that doesn't mean it's ultimately real or enduring. Water will keep flowing, the sun will continue to rise, and the spirit and the wind will still blow where they will...

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