Daily Digest

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Daily Digest 12/5 - Australia Riding Coal Train, Health Care Spending Hits 17.5% Of GDP

Saturday, December 5, 2015, 12:38 PM

Economy

The Bad Blood Between Russia and Turkey Is Spreading to Armenia and Azerbaijan (Merle2)

"This is largely talk right now, but the problem is neither Turkey nor Russia really need war in the Caucasus," said Paul Stronski, a senior associate at the Carnegie Endowment for International Peace. "The situation between Armenia and Azerbaijan has been pretty dangerous already. It's clear that things can easily get out of hand."

Why This Sucker Is Going Down Again (Aaron M.)

I have refuted that hoary tale in detail in The Great Deformation. The short of it is that the banking system collapsed because it was insolvent after the 15-year, debt-fueled boom of World War I and the Roaring Twenties, not because it was parched for liquidity or because the Fed had been too stingy in the provision of reserves.

Look Out Below: the Real Economy Just Hit Stall Speed (Aaron M.)

There are three parts to this chart. Let's look at them one at a time. The red line is real final sales per capita, which means all sales in the economy adjusted for inflation divided by the population, i.e. per person.

Canadian banks earn $96 million a day in 2015 (Uncletommy)

Most of the strong fourth-quarter performance came from personal and commercial loan businesses. Consumer loan growth hasn’t slowed despite predictions that record household debts and worsening economic conditions could mean more defaults and fewer new loans.

Thanks Obamacare—-Health Care Spending Hits Record 17.5% Of GDP (Aaron M.)

The U.S. had seen years of slow health-care cost growth after the economic downturn that ended in 2009. The 2.9 percent rise in 2013 was the slowest in the 55 years that the U.S. has studied the figure. Actuaries at the Centers for Medicare and Medicaid Services, or CMS, estimated in July that spending will rise an average of 5.8 percent a year over the decade through 2024.

Eric Sprott on U.S. unemployment, upcoming FOMC meeting & Bullion Bank maneuvering on the Comex (Herman J.)

Eric Sprott discusses this past week’s events in markets and metals, and gives his forecast for the next couple of weeks.

The Economy Is Growing, but Not Fixed Yet (jdargis)

Fed officials keep saying they are data-dependent in their policy choice, and this data backs up the idea that the United States economy is fundamentally in pretty decent shape, with consistent job growth and a low enough unemployment rate that employers are starting to offer workers higher raises.

Australia riding coal train despite climate pleas (Uncletommy)

Last week (Nov 27) New South Wales approved the extension of the long-standing Mount Thorley Warkworth mine, despite fears it would result in wildlife habitat destruction, reduced air quality, and through the burning of the coal, release even more of the greenhouse gases blamed for climate change.

Gold & Silver

Click to read the PM Daily Market Commentary: 12/4/15

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

robie robinson's picture
robie robinson
Status: Diamond Member (Offline)
Joined: Aug 25 2009
Posts: 1182
The mare

http://suffolk.hvyhorse.net/horses/13707

Not sure this will come thru, but worth a try. Will Post Pics and prenatal thru parturition in daily digest as they evolve.

pinecarr's picture
pinecarr
Status: Diamond Member (Offline)
Joined: Apr 13 2008
Posts: 2244
Desperate Finland Set To Unleash Helicopter Money Drop

From ZH, at "It Begins: Desperate Finland Set To Unleash Helicopter Money Drop To All Citizens", at

http://www.zerohedge.com/news/2015-12-06/it-begins-desperate-finland-set-unleash-helicopter-money-drop-all-citizens

With Citi's chief economist proclaiming "only helicopter money can save the world now," and the Bank of England pre-empting paradropping money concerns, it appears that Australia's largest investment bank's forecast that money-drops were 12-18 months away was too conservative.

Over the last few months, in a prime example of currency failure and euro-defenders' narratives, Finland has been sliding deeper into depression. Almost 7 years into the the current global expansion, Finland's GDP is 6pc below its previous peak. As The Telegraph reports, this is a deeper and more protracted slump than the post-Soviet crash of the early 1990s, or the Great Depression of the 1930s. And so, having tried it all, Finnish authorities are preparing to unleash "helicopter money" to save their nation by giving every citizen a tax-free payout of around $900 each month!

sand_puppy's picture
sand_puppy
Status: Diamond Member (Offline)
Joined: Apr 13 2011
Posts: 1891
Special note of appreciation for LesP and SterlingC

Both of you have returned my focus several times to the central role of that overpopulation plays in the stuff that is starting to come down.

It was very helpful to me to see this as 1) the central issue, and 2) an impersonal psychosocial force.

Thank you both.

 

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