Daily Digest

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Daily Digest 10/23 - Good News Friday: Gorgeous Art Made From Microbes, Silver To Start A Huge Rally?

Friday, October 23, 2015, 9:58 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

A 23-year-old Google employee lives in a truck in the company's parking lot and saves 90% of his income (richcabot)

He started laying the groundwork for living out of a truck immediately, as he knew he'd be returning to work full time in San Francisco. A school year later, he was purchasing a 16-foot 2006 Ford with 157,000 miles on it.

It cost him an even $10,000, which he paid up front with his signing bonus. His projected "break-even point" is October 21, according to the live-updating "savings clock" he created on his blog, "Thoughts from Inside the Box."

Iceland Sentences 26 Corrupt Bankers To 74 Years In Prison (locksmithuk)

When Iceland’s three major banks collapsed, it resulted in defaults totaling $114 billion in a country with a gross domestic product (GDP) of only $19 billion. In October, 2008 the parliament passed emergency legislation to take over the domestic operations of the major banks and established new banks to handle them. They did not, however, take over any of the foreign assets or obligations. Those stayed with the original banks, right into bankruptcy.

Drug with rage-inducing >5,000% price-hike now has $1/pill competitor (jdargis)

"While we respect Turing's right to charge patients and insurance companies whatever it believes is appropriate, there may be more cost-effective compounded options for medications, such as Daraprim,” Mark L. Baum, CEO of Imprimis, said in a news release.

The Will to Belong: How Anarchists Could Leverage the Instinct to Conform (Steve R.)

Before I make my case for conformity and submission to hierarchy I want you to consider two other potentially objectionable means: violence and shaming. Both are means that anarchists may find disagreeable. Both may never “feel right”. However, both are acceptable and consistent with anarchist philosophy if used within the right context.

Amazing Chart: Silver To Start A Huge Rally? (Taki T.)

The 2-decade chart of the gold to silver ratio has reached the upper border of its range (the 80ish area). Here is the most interesting fact: each time the ratio has reached those upper borders, a trend change has taken place, which implied that the silver price started rising sharply.

The chart below is amazing according to us. It indicates the gold to silver ratio with the yellow dotted line (right axis), and the silver price with the grey line (left axis).

Hummus Restaurant Offers 50 Percent Off for Israelis and Arabs Who Share a Table (jdargis)

As the latest spate of violence between Israelis and Palestinians continues to spiral out of control, leaving casualties on both sides of the conflict, one restaurant is counting on the healing power of chickpeas to bring a measure of peace and stability to the region.

The Maryland Zoo in Baltimore Recognized with Prestigious Bean Award (pinecarr)

As a precautionary measure against extinction in advance of Bd, golden frogs were legally collected in Panama and sent to AZA-accredited institutions in order to create ex situ assurance populations. Prior to collection, PGF/PRD biologists studied golden frog habitat and collected environmental data from these habitats in order to achieve the highest potential of survivability and breeding success once the frogs were in zoo/aquarium collections.

This Gorgeous Art Is Made from Microbes (jdargis)

“Superheroes!”, painted with mutant strains of the same microbe. The bacteria are the “real” superheroes, the scientists explain, because “they hyper-produce antibiotics to fight off competitors and to protect their siblings.”

Gold & Silver

Click to read the PM Daily Market Commentary: 10/22/15

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."

4 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4167
More stimulus again

Now, there is little chance of a Federal Reserve rate hike in 2015

MarketWatch-20 minutes ago
The market is betting against a rate increase this month, with just a 6% probability of rates being lifted when Fed policy makers convene at their Oct. 27-28 ...
 

Treasuries Extend Losses After China Rate Cut Trims Haven Demand

Bloomberg - ‎1 hour ago‎
U.S. Treasuries extended a decline after China's central bank cut its benchmark lending rate and reserve requirements for banks. The yield on the 10-year Treasury note rose five basis points, or 0.05 percentage point, to 2.08 percent as of 7:39 a.m. in ...

Chinese forex official: No panic in capital outflows

Asia Times - ‎1 hour ago‎
In September China's commercial banks sold a net 729.6 billion yuan of foreign exchange on behalf of clients, down from 807 billion yuan in August but while smaller, these were still capital outflows. “Current changes (in capital flows) ... The main ...

Beijing investors protest against debt defaults

Financial Times-7 hours ago
Disgruntled investors protested against two separate cases of debt default in Beijing on Friday, a sign that financial stress is raising the risk of social unrest as ...

New European Stimulus Measures Weighed by Central Bank

New York Times-13 hours ago
VALLETTA, Malta — The European Central Bank is studying new stimulus measures that could be unveiled as soon as December and is prepared to cut its ...

Global stocks soar again as China rate cut dovetails Draghi

Reuters - ‎3 hours ago‎
The first, that additional Chinese stimulus could help boost global growth, pushed up yields on benchmark U.S. treasuries and European debt. [GVD/EUR]. The second, the prospect of more ECB stimulus by the end of the year, saw Italian IT2YT=TWEB and ...

Norway Central Bank Ready to Fight Recession, Governor Says

Bloomberg - ‎2 hours ago‎
Though negative rates haven't been discussed by the bank's board, the threat to its main forecast is “to the downside,” Norges Bank Governor Oeystein Olsen said Friday in an interview after a speech outside Oslo. Policy makers are prepared to do what's ...
 

Kazakh central bank to use pension fund cash to prop up economy

Times of India - ‎4 hours ago‎
The central bank manages the pension fund, which is replenished by mandatory contributions from all working Kazakhs, currently fixed at 10 percent of a person's salary. It can finance the government and the private sector by purchasing bonds and ...

Government Debt in France and Italy Swells to Euro-Era Highs

Bloomberg-2 hours ago
The figures underscore the fragilities of the euro-area recovery as the European Central Bank signals it is preparing for more stimulus. The inflation rate dropped ...

China Asset Famine Fuels Hunt for Junk Bonds in 2008 Crisis Echo

Bloomberg-8 hours ago
... in junk bond issuance in China resembles the exuberance of risky debt sales in ... including bonds into securities sold to individuals, exceeded 20 trillion yuan ...

UPDATE 1-S&P says Japan needs to raise tax revenue with sales ...

Reuters-2 hours ago
Slow progress in lowering public debt burden (Adds details on economy) ... ratio, the world's worst, at around twice the size of Japan's $5-trillion economy.

Draghi's Signal Adds $190 Billion to Negative-Yield Universe

Bloomberg-4 hours ago
There are about $752 billion of securities in the euro region with yields below ... Yields below zero mean investors who hold the debt to maturity will receive less ...

Germany Braces for $3.4 Billion Tax Shortfall on VW Crisis

Bloomberg-1 hour ago
“Even if our town is free of debt and we were able to put provisions aside, ... will be 3 billion euros lower as a result of the diesel emissions cheating scandal.

Billions in Cheap Loans Show Why Brazil's Losing Inflation Fight

Bloomberg-14 hours ago
BNDES -- whose $170 billion-plus loan portfolio is bigger than the World Bank's ... As a result, the country's gross debt has ballooned to about 65 percent of its ...

Municipalities facing cash flow crunch (South Africa)

News24-6 hours ago
The total debt owed by municipalities was R13,2 billion, a 31% increase from 2013/14, of which R10,5 billion was outstanding in the “over 90 days” category.

Brazil Could Register Largest Primary Deficit Ever in 2015

The Rio Times-3 hours ago
The revised 2015 budget would go from a primary surplus of R$8.74 billion to a ... The revised volume will be the largest annual deficit in history for Brazil.
 

Moody's downgrades rating on $26.8B in Illinois bonds

Chicago Tribune - ‎2 hours ago‎
The Moody's credit rating agency downgraded $26.8 billion in Illinois' general obligation bonds on Thursday, prompting another round of finger pointing over the condition of the state's finances. In lowering the bond rating to Baa1 from A3, Moody's ...

Illinois Budget Mess Spurs Biggest Pension Fund Withdrawal Ever

Bloomberg-59 minutes ago
Illinois's decision to delay payments to its pension fund because of a prolonged budget impasse is starting to have real consequences. The State Employees' ...

RPT-Pennsylvania's budget gridlock hits schools, seniors

Reuters-3 hours ago
The gridlock has left a $2 billion state budget deficit unresolved and prompted Moody's Investors Service to revise its outlook on Pennsylvania's Aa3 credit rating ...

Fiscal stimulus plan not enough to boost Canada 2016 GDP: Reuters poll

Reuters - ‎16 hours ago‎
Prime Minister-designate Justin Trudeau, who swooped to power in a landslide election victory on Monday, has proposed running an annual budget deficit of up to C$10 billion ($7.63 billion) for three years to invest in infrastructure and boost Canada's ...

Company costs surge as staff healthcare costs rise globally by 10% per annum

The FINANCIAL - ‎7 hours ago‎
The research Medical Trends Around the World, is based on a survey of insurers and showed that in 2014 - across 21 out of 29 countries - the average per person increase in healthcare costs was more than double the rate of inflation. 2014 saw a 10% ...

Premiums expected to rise in many health law markets

WOWK - ‎7 hours ago‎
Trying to demystify the process, HealthCare.gov will offer a new calculator to help customers decide what kind of plan is better. It will look at their out-of-pocket costs, based on expected medical needs. Tip: Patients who need medical follow-up for ...

Credit Suisse Exiting Dealer Role Rings Alarm in Debt Market

Bloomberg - ‎6 hours ago‎
The Zurich-based lender will withdraw from the U.K primary-dealer market on Friday, the nation's Debt Management Office said. It's the first time a gilt primary dealer -- which buys sovereign debt directly from the government -- walked away since ...

 

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4167
Junk-Bond Default Rate May Nearly Double in a Year, UBS Says

Junk-Bond Default Rate May Nearly Double in a Year, UBS Says

Bloomberg-21 hours ago
The high-yield default rate may climb as high as 4.8 percent, UBS analysts wrote in a note to clients Thursday. The default rate for speculative-grade debt in the ...
 

Draghi sends bond yields to new lows

Financial Times-5 hours ago
For Italy, yields dipped into negative territory for the first time on Thursday, while German yields for that maturity are now at a record low of -0.327 per cent.

House Leaders Unlikely to Push Bill Linking Debt-Ceiling to ...

Nasdaq-19 hours ago
They had hoped to please Republicans with the Republican Study Committee bill, which would raise the debt limit to $ 19.6 trillion from its current level of $18.1 ...

Double Trouble: Faced With Massive Local Tax Hike, Chicagoans ...

Huffington Post-14 hours ago
Chicago Mayor Rahm Emanuel is poised to squeeze city residents with the ... to fix Illinois' structural problems, including more than $111 billion in pension debt ...

Tax Collectors Are Going After Netflix, Airbnb, and Burning Man

Bloomberg-4 hours ago
In June, Chicago decided that its 9 percent “amusement tax” should cover Netflix, ... local governments within it, is struggling under billions of dollars in pension ...

US Treasury Pushes Unprecedented Bankruptcy Plan for Puerto Rico

MarketWatch-17 hours ago
"Super Chapter 9", if enacted, is expected to roil municipal debt markets and raise the costs of borrowing for states and municipalities across the country.

BOJ to snip GDP, inflation forecasts for 2015, 2016

The Japan Times - ‎7 hours ago‎
But the BOJ, which is trying to bring an end to decades of deflationary pressure with its unorthodox quantitative and qualitative monetary easing program, will only cut by 0.1-0.2 point its forecast that price rises will accelerate to 1.9 percent next ...
Bankers Slave's picture
Bankers Slave
Status: Platinum Member (Offline)
Joined: Jul 26 2012
Posts: 523
This guy wont be appearing again very soon!

locksmithuk's picture
locksmithuk
Status: Silver Member (Offline)
Joined: Dec 19 2011
Posts: 126
Complaint
Bankers Slave wrote:

This guy wont be appearing again very soon!

 

I've lodged a complaint to the moderators about the insufficient number of display characters to accommodate a gazillion upvote count for your video.

 

You're welcome.

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