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Daily Digest 10/19 - 'Motherlode' Of Drone Docs Leaked, America Is A Bomb Waiting To Explode

Monday, October 19, 2015, 11:11 AM

Economy

'America is a bomb waiting to explode' (Nate)

Food supply logistics are extended, sometimes stretching thousands of miles. The shops have nothing more than a few days’ stock. A simple break in that supply line would clear the shops out in days.

A Massive National Security Leak Just Blew the Lid off Obama's Drone War (jdargis)

The US government kills a lot of people who aren't military targets. War is an inherently deadly exercise, but the whole point of using armed drones, theoretically, is to minimize US military deaths and offer a more precise way to attack targets so that innocent people don't get killed. And while it's been known for some time that many innocent people die in US drone strikes, much of the information came from independent sources.

A Second Snowden Has Leaked a Mother Lode of Drone Docs (jdargis)

“This outrageous explosion of watchlisting—of monitoring people and racking and stacking them on lists, assigning them numbers, assigning them ‘baseball cards,’ assigning them death sentences without notice, on a worldwide battlefield—it was, from the very first instance, wrong,” the source tells the Intercept. “We’re allowing this to happen. And by ‘we,’ I mean every American citizen who has access to this information now, but continues to do nothing about it.”

When Gas Becomes Cheaper, Americans Buy More Expensive Gas (jdargis)

A new report by the JPMorgan Chase Institute, looking at the impact of lower gas prices on consumer spending, finds the same pattern as earlier studies. The average American would have saved about $41 a month last winter by buying the same gallons and grades. Instead, Americans took home roughly $22 a month. People, in other words, used almost half of the windfall to buy more and fancier gas.

A New Golden Age Part III: The Basic Income Guarantee by Tom Streithorst (jdargis)

Ever since the Great Depression, the key economic question has been how to manufacture demand sufficient to absorb our ever-growing supply. Unlike every other economic system, capitalism has largely solved the problem of making things. These days, the only difficulty is finding someone to buy them. During the Golden Age, from 1945 to 1973, higher wages stimulated demand. Since 1982 until the financial crisis, it was growing levels of debt. In a world where automation continues to replace human workers, and increased debt threatens financial stability, a Basic Income Guarantee is probably the safest and most equitable way to guarantee sufficient demand for the economy to meet its potential.

The Fats You Don’t Need to Fear, and the Carbs That You Do (jdargis)

Although health advice focused on saturated fats from high-fat animal foods, many people generalized the advice to mean all fats, choosing in their stead a panoply of reduced-fat and fat-free foods rich in carbohydrates, from crackers to sweetened yogurts. They especially increased their consumption of two kinds of carbohydrates, refined starches and sugars, that have helped to spawn the current epidemic of obesity and Type 2 diabetes and halted a decades-long decline in heart disease.

Experts now realize that efforts to correct past dietary sins that made heart disease and stroke runaway killers have caused the pendulum to swing too far in the wrong direction.

Stop The Madness (jdargis)

This treatment method was based on a simple question that has upended everything that scientists once thought they knew about schizophrenia: What if its most destructive symptoms, the ones that had swallowed Glenn’s personality and ravaged his life, could actually be prevented? In other countries, this method is changing people’s lives in ways that psychiatrists had never imagined possible. But in the U.S., it has barely expanded beyond a handful of academic and specialty centers. Even among doctors and mental health professionals, surprisingly few people seem to realize that such a potentially transformative approach to this terrible disease even exists.

Warming Oceans May Threaten Krill, a Cornerstone of the Antarctic Ecosystem (jdargis)

Krill, typically about the size of a pinkie finger and similar in appearance to shrimp, are one of the most abundant animal species on earth, and a cornerstone of the Antarctic ecosystem. They form schools that can be miles long and miles deep, with thousands of crustaceans packed into each cubic foot. Commercial trawlers revisit known breeding grounds, where they can vacuum up thousands of tons of krill over a fishing season.

Gold & Silver

Click to read the PM Daily Market Commentary: 10/16/15

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."

9 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4061
News Repost....More Of The Same

Japan third-quarter growth seen slowing sharply as Asian demand ...

Reuters UK-7 hours ago
Most analysts, however, doubt the BOJ can achieve its 2 percent inflation goal by the middle of fiscal 2016, and expect the central bank to offer more stimulus as ...
 

Ex-BOJ Executive Says More Easing Hinges on Output, Exports Data

Bloomberg - ‎18 hours ago‎
Poor data for exports and industrial output have the potential to force the Bank of Japan into bolstering stimulus later this month, said a former chief economist for the BOJ. Weak production could destroy the picture the central bank has presented of ...
 

Russia's Ailing Consumers Keep Door Open for Rate Cuts

Bloomberg-2 hours ago
A fresh bout of ruble weakness forced the central bank to hold off on easing policy after it already rolled back most of a December emergency rate increase.
 

China economy grows 6.9 pct in Q3, weakest since 2009

Yahoo Finance UK - ‎11 hours ago‎
To stoke activity, the central bank has already cut interest rates five times since November and reduced banks' reserve requirement ratios, though analysts believe an increase in fiscal spending could be more effective in lifting growth. The government ...

China Swaps Near Seven-Week Low on Bets for Pro-Growth Policies

Bloomberg-6 hours ago
The People's Bank of China directed questions on its Treasury holdings to the ... enough for the central bank to raise rates by year-end, traders are skeptical.

China Ponders Tool Deemed Too Risky Post 2008 to Cut Bad Loans

Bloomberg-19 hours ago
While a central bank official said in May such products are under study, regulators this month declined to comment on the plans. Only three Chinese firms have ...

Deutsche Bank: If the Fed Kneecaps U.S. Credit Growth, Get Ready ...

Bloomberg-3 hours ago
... indicated that he thought monetary policy makers should be considering negative interest rates to help bring the economy back to full employment.

ECB's Nowotny says euro zone policy may need to become expansive

KDAL-8 hours ago
WARSAW (Reuters) - The euro zone needs additional measures, possibly looser fiscal policy, to secure economic growth, European Central Bank policymaker ...

Euro Declines on Speculation ECB Stimulus to Contrast With Fed

Bloomberg-1 hour ago
ECB officials are likely to say by year-end that they have no choice but to add stimulus, and may even reach that conclusion as soon as Thursday, according to ...

Lew: I worry about 'terrible' debt limit accident

CNBC-4 hours ago
China's central bank has in recent months increased its sales of Treasury securities to raise cash to support its currency. In August, China unexpectedly and ...

Few in Venezuela Want Bolívars, but No One Can Spare a Dime

New York Times-15 hours ago
Ruth de Krivoy, a former Central Bank president, asked with a rueful laugh. She said the main problem was that the government had failed to respond to rapidly ...

Dividend Bull Case Deflates as Payouts Rise Least Since 2010

Bloomberg-9 hours ago
... years, when the government debt offered rates averaging 3.7 percentage points higher. ... Since 2009, companies in the S&P 500 have paid out $1.8 trillion in ...
 

Rajan Unclogs India Monetary Plumbing as Banks Finally Cut Rates

Bloomberg - ‎21 hours ago‎
Overseas funds can own as much as 5 percent of India's total outstanding debt by March 2018 -- from about 3.8 percent now -- in a move that will help attract 1.2 trillion rupees ($18.4 billion) in inflows, the RBI said Sept. 29. The resulting rally ...

Saudi Arabia Said to Delay Contractor Payments as Oil Slumps

Bloomberg-5 hours ago
The country has raised 55 billion riyals ($15 billion) from debt issuance this year. “It's hard to hold back from boosting spending when oil is on the rise, but very ...

No health insurance? Tax penalty is getting bigger

The Seattle Times - ‎55 minutes ago‎
WASHINGTON (AP) — The math is harsh: The federal penalty for having no health insurance is set to jump to $695, and the Obama administration is being urged to highlight that cold fact to help drive its new pitch for health law sign-ups. ... Until now ...

Affordable Care Act penalties, premiums on the rise for 2016

MLive.com-2 hours ago
The federal penalty for having no health insurance will more than double to $695, and premuims are expected to rise as well. Signups start Nov.

Moody's: No Illinois pension payment could hurt credit

KWQC-TV6-14 minutes ago
CHICAGO (AP) — A major credit rating agency says Illinois' inability to make a November payment to its pension funds could hurt the state's already dismal ...

Deadbeat Illinois: Day 111 without a budget for Illinois

The State Journal-Register - ‎12 hours ago‎
Days without a state budget: 111. Backlog of unpaid bills: $7.2 billion. Latest effects of the stalemate: — Comptroller Leslie Munger said next month's $560 million payment to Illinois' pension system will be delayed. — Senior Services of Central ...

 

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4061
Downgrade for Illinois

Fitch Downgrades Illinois' GO Rating to 'BBB+'; Outlook Revised to Stable

Business Wire (press release) - ‎44 minutes ago‎
NEW YORK--(BUSINESS WIRE)--Fitch Ratings has downgraded the rating on $26.8 billion in outstanding Illinois general obligation (GO) bonds to 'BBB+' from 'A-'. In addition, the ratings on bonds related to the state based on its appropriation have been ...
 

Fitch sinks Illinois' credit rating to BBB-plus

Reuters - ‎9 minutes ago‎
The one-notch downgrade from A-minus, affecting $26.8 billion of general obligation bonds, leaves Illinois as the only U.S. state with a rating in the triple-B level. An impasse between Republican Governor Bruce Rauner and Democrats who control the ...

Moody's: Illinois pension debt, credit rating worst in nation and on verge of ...

Reboot Illinois - ‎3 hours ago‎
A notice distributed today by Moody's Investors Service hints strongly that Rauner may soon own the first Illinois credit downgrade of his term. In its Oct. 19 Credit Outlook report, Moody's focuses on last week's announcement by Comptroller Leslie ...

 

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
And now the Kazakhs are doing it.

Cold Fusion.

More replication from Kazakhstan. Two uncharged rods were used as a control. Then one was replaced with a charged rod.

An excess of two kWhrs was observed.

Why don't these people use the correct units? In this case the joule. 720kJ There, now was that too hard? Pet peeve. (The older I get the more pet peeves I have.) 

http://www.lenr-forum.com/forum/index.php/Thread/2178-Kazakhstan-held-a-...

sand_puppy's picture
sand_puppy
Status: Diamond Member (Offline)
Joined: Apr 13 2011
Posts: 1756
Russian defends itself against economic debt trap

Collapse Of The Western Financial System Looms As A "Strategic" Russian Default Is Possible

Pepe Escobar opines on Russia's efforts to defend itself from western financial oligarchy currently  squeezing Russia with 1. debt trap,  2.  oil price collapse  3. Ruble collapse.

He points out how economic warfare can, is and has been used to damage another country, like China.

There are at least three absolutely key points in Glazyev’s [Putin's advisor] plan. We may summarize them like this:

1. If the emerging trend of freezing private assets of Russian legal entities and individuals continues, Russia should consider full or a partial moratorium on the servicing of loans and investment from the countries involved in the freezing.

2. The amount of foreign currency assets of the Russian Federation located in the jurisdiction of NATO countries accounts to more than $1.2 trillion, including short-term debt of about $800 billion. Their freeze may be partially offset by retaliation against NATO assets in Russia, which amounts to $1.1 trillion, including over $400 billion long-term. So this threat would be neutralized if Russian monetary authorities organized a timely withdrawal of Russian short-term assets in the US and the EU.

3.  Glazyev is adamant that the Russian Central Bank continues to serve the interests of foreign capital – as in the financial powers in London and New York. He contends that the high interest rates practiced by the Russian Central Bank led Russian oligarchs to borrow more cheaply from the West, making the Russian economy dependent, a debt trap which the West used to slowly squeeze Russia. Then the rigged Western oil and ruble collapse increased the pressure as debt service in ruble cost and interest doubled.

thatchmo's picture
thatchmo
Status: Gold Member (Offline)
Joined: Dec 14 2008
Posts: 432
Jeez, Arthur, you're starting

Jeez, Arthur, you're starting to sound downright curmudgeonly!  Someone once told me folks shouldn't have peeves as pets....(I dare not share my collection....)  Aloha, Steve.

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Things that make me go hmmmm.

I am at an age where I have access to my superannuation. So, to suit my paranoid nature,  I would like to get it in my hot little hand. To that end there is some bureaucratic paperwork, would you believe? 

Now the relevant Australian institute just somehow cannot email me the forms. (Strange. They have never had this problem when asking for money.)

Where have I seen this behavior before?  That's right!  That mineral exploration company that I used to work for in my dim and distant past. They were bankrupt and were having difficulty meeting payroll. 

I think I will have a nice cup of tea and a lie down.

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Quote of the Day.
if you are not on a government watch list yet, you should be ashamed of yourself.
From my Odinist.org
 
Time2help's picture
Time2help
Status: Diamond Member (Offline)
Joined: Jun 9 2011
Posts: 2766
It's official, we're in recession

Deutsche Bank: "This Is Not an Economy That Is About to Enter Recession" (Bloomberg)

Run, don't walk...

Uncletommy's picture
Uncletommy
Status: Gold Member (Offline)
Joined: May 3 2014
Posts: 474
Deficit spending the new normal in Canada?

Canada has just elected a new liberal majority that based their economic strategy on 3 future deficits to improve infrastructure  and help the middle class. The 2 opposition parties ran on a balanced budget policy and both lost seats. I guess the Liberals are on the same page, financially, but they just don't apologize for it.Can free tuition be far behind. I can hear the Canadian presses humming as we speak (now where did I put that Monopoly money).

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