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Daily Digest 12/7 - NATO Ships In Turkey, Finland Considering Base Income For All

Monday, December 7, 2015, 10:43 AM

Economy

The age of ‘pre-crime’ has arrived (richcabot)

It is theoretically possible that a law enforcement officer could observe an area he understands to be known for prostitution, and, upon seeing a vehicle driving in a certain manner, or stopping in front of suspected or known prostitutes, based on his reasonable suspicion that he bases on his analysis of the totality of these specific circumstances, the officer could speak with the driver to investigate. This is very uncommon, because it would take a huge amount of manpower and time.

Our Own Private Disaster (richcabot)

In Cowen’s thinking, Hurricane Katrina presented a golden opportunity to remake New Orleans as a privatized, corporatized playground for white tourists and tech companies—liberated from the troublesome teachers unions, housing projects, and neighborhood interests that he believes held the city back for decades. African Americans remain a part of this technocratic city, but they primarily appear as iconic touchstones—musicians, chefs, Mardi Gras Indians—whose purpose is to bring local color to new New Orleans. He states that Katrina “was the crisis that forced new ideas,” ideas he himself claims he led. He fails to provide a moral calculus for finding these opportunities on the backs of the city’s 1,800 dead.

Why I’m Closing My Bank Accounts While I Still Can (Aaron M.)

No one has ever been able to tell me why the teller wouldn’t cash my check. The best answer I got was, it was a new teller and she probably didn’t understand the SARs rules and figured she’d better not cash the check, in case she got in trouble.

NATO Ships In Turkey (Aaron M.)

Many independent sources confirm Turkey has been buying ISIS oil and Russia has accused the Obama Administration of covering that up. Meanwhile, a Russian ship which did pass through the Bosporus was seen with a soldier brandishing a shoulder mounted rocket launcher and of course Turkey is trying to make a big deal out of that. That hardly shows a serious threat but it does reflect the worsening of tensions ever since Turkey stupidly downed a Russia plane for what can only appear to be attacking ISIS oil into Turkey.

PBS Joins the MSM’s Syria-Russia Bias (richcabot)

Nicholas Burns is a former U.S. Ambassador to NATO. In early 2003 he urged the “unity” of NATO as some NATO allies expressed doubts about the U.S. the invasion of Iraq. In 2006, he urged punishing sanctions on Iran. In 2011, Burn wrote, “President Obama was surely right to commit the United States, however reluctantly, to the NATO campaign [to overthrow Libyan President Gaddafi].” Burns has a track record supporting Western aggression against other countries. He evidently has learned nothing from the resulting chaos, devastation and death.

Scientist Who Discovered GMOs Cause Tumors in Rats Wins Landmark Defamation Lawsuit in Paris (richcabot)

On November 25, the High Court in Paris indicted Marc Fallous, the former chairman of France’s Biomolecular Engineering Commission, for “forgery” and the “use of forgery.” The details of the case have not been officially released.

Finland is considering giving every citizen €800 a month (LesPhelps)

Under proposals being draw up by the Finnish Social Insurance Institution (Kela), this national basic income would replace all other benefit payments, and would be paid to all adults regardless of whether or not they receive any other income.

Renewable Energy Bankruptcy Threatens Spanish Banks (Josh O.)

Conventional energy companies avoid these issues in one of two ways. Utility companies are generally granted a local monopoly, which enables them to regulate supply based on demand in exchange for some degree of government oversight. Oil and natural gas companies have some upfront costs, but their production costs overtime are also substantial and can be adjusted based on demand conditions. In both cases, conventional energy firms have advantages not available to renewable energy companies.

Uruguay makes dramatic shift to nearly 95% electricity from clean energy (richcabot)

Biomass and solar power have also been ramped up. Adding to existing hydropower, this means that renewables now account for 55% of the country’s overall energy mix (including transport fuel) compared with a global average share of 12%.

Earth has lost a third of arable land in past 40 years, scientists say (richcabot)

The continual ploughing of fields, combined with heavy use of fertilizers, has degraded soils across the world, the research found, with erosion occurring at a pace of up to 100 times greater than the rate of soil formation. It takes around 500 years for just 2.5cm of topsoil to be created amid unimpeded ecological changes.

Gold & Silver

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

Provided daily by the Peak Prosperity Gold & Silver Group

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saxplayer00o1's picture
saxplayer00o1
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Emerging Market Debt Sales Are Down 98 Percent

 

 

SA edges closer to junk rating

Times LIVE - ‎Dec 5, 2015‎
South Africa's sovereign credit rating slid to the brink of "junk" status on Friday after Standard & Poor's unexpectedly changed the outlook on its BBB-assessment of the country's creditworthiness to negative from stable, citing its faltering pace of ...
 

Turkey's Never Had It So Bad as Record Outflows Seen Persisting

Bloomberg-6 hours ago
High levels of external debt make it vulnerable to shifts in investor sentiment once ... increasing the dependency on external financing and threatening sovereign ...
 

China Credit Risk Seen Rising as Slowing Economy Inflates Yields

Bloomberg-10 hours ago
China's corporate bonds will face increased pressure in 2016, with a rising number of ... The yield premium on five-year AA- rated debentures over the sovereign ...
 

-Danish central bank governor says rates could go lower

Reuters-2 hours ago
The central bank kept its key certificate of deposit rate unchanged at -0.75 percent ... The central bank's foreign currency reserves peaked at a record of 737.2 ...
 

China likely added 21 tonnes to gold reserves in November

Reuters - ‎4 hours ago‎
SINGAPORE Dec 7 China likely added nearly 21 tonnes of gold to its reserves in November, according to Reuters calculations from central bank data on Monday. The value of China's gold reserves stood at $59.52 billion at the end of November, compared ...
 

China Adds Most Gold in November in 5 Months as Price Slumps

Bloomberg - ‎6 hours ago‎
China probably increased central bank gold reserves in November by about 21 metric tons, the most in at least five months, as prices had the biggest drop in more than two years. The value of gold assets was $59.52 billion at the end of last month from ...
 

Rajan Seen Buying $10 Billion of Rupee Bonds as Cash Runs Short

Bloomberg-17 hours ago
Primary dealers rescued a sovereign-debt sale on Friday by picking unsold ... fell 46.9 billion rupees in November, the most since May, to 3.50 trillion rupees.

Emerging Market Debt Sales Are Down 98 Percent

Bloomberg - ‎Dec 6, 2015‎
One side effect of the decline in international-debt sales was the emergence of the euro as a borrowing currency. The net issuance of securities in the shared currency by non-financial companies was $23 billion in the three months through Sept. 30 ...
 

ECB Spent 63 Billion Euros on Bonds Last Month With Frontloading

Bloomberg-53 minutes ago
Holdings of public and private-sector debt under quantitative easing climbed by 62.6 billion euros ($67.7 billion) in November, data on the ECB's website ...
 

Somber President Maduro acknowledges 'adverse' results in Venezuelan vote

Los Angeles Times - ‎9 hours ago‎
Monaldi said Venezuela is so cash-strapped that it is at risk of defaulting on its $113 billion in foreign debt next year unless there is a rise in the price of oil, revenue from which the government derives 90% of its budget. As the government seeks ...

Mississippi pension fund recovery stalled by accounting changes ...

gulflive.com-17 hours ago
... system is short of being fully funded, rose by $1.5 billion to nearly $16 billion. ... 34 years before it pays off its accrued debt, instead of the 29 years previously ...
 

Report slams Illinois' unsound budgeting practices

Reuters-2 hours ago
The state's unpaid bill backlog, a barometer of its chronic structural budget deficit, is projected to hit $8.5 billion by the end of this month. The report slammed the ...

S.F. to see $99 million budget deficit next year, as pension costs soar

San Francisco Business Times (blog)-1 hour ago
Massive pension costs for the City of San Francisco have pushed the city into a projected $99 million budget deficit next fiscal year, despite the area's booming ...

Suicide rate in Alberta jumps 30% in wake of mass oilpatch layoffs

CBC.ca-2 hours ago
In this year of mass layoffs in the energy sector, calls to the Calgary Distress Centre have changed tone and have become more frequent, says counsellor David ...

EEF: Manufacturers are suffering their sharpest contraction in six years (UK)

City A.M. - ‎16 hours ago‎
The percentage of manufacturers that said output had fallen over the last three months outweighed the percentage who reported an increase by 12 percentage points. It marks the sharpest contraction since 2009. The slowdown was broad-based, and not ...

10 warning signs for investors in 2016

CNBC-1 hour ago
Further validating the significant slowdown in global growth is the CRB index ... to make earnings from a slowing global economy, are going to have to grapple ...

Pensions rout: Hong Kong's MPF on track for first losing year since ...

South China Morning Post (subscription)-4 hours ago
“It is hoped the anticipated slowdown from China and the anticipated rate hike in the ... as well as the rebalancing of the China economy all mean that the market ...

Indian rubber farmers facing ruin as global prices crash

Times of India-4 hours ago
Experts say that the slow down in the Chinese economy coupled with overall sluggish economic growth in most of the advanced countries has affected the ...

Health insurance and medication is growing more expensive in the US

Live Insurance News - ‎7 hours ago‎
Health care costs saw significant growth in 2014, according to the Centers for Medicare and Medicaid Services. The federal agency has noted that health care expenditures are accelerating, with consumers and businesses spending a great deal of money on ...

Puerto Rico Says Sick Will Head North Without Health-Care Fix

Bloomberg-3 hours ago
Almost 70 percent of the island's 3.5 million people get health care through ... Income Tax Credit and Child Tax Credit to Puerto Rico would cost $30 billion and ...

Pensioners in care rip-off storm: Cost of care soars by crippling 237 ...

Express.co.uk-5 hours ago
THE cost of care has rocketed by 237 per cent over the past 25 years - and ... for the elderly with long-term health conditions, currently cost £39,300 on average, ...

China's Sichuan Shengda Defaults on Onshore Bond as Growth Slows

Bloomberg - ‎10 hours ago‎
More firms in China are struggling to repay debt amid the worst economic slowdown in a quarter century. China Shanshui Cement Group Ltd. last month became at least the sixth company in 2015 to default on yuan-denominated domestic notes. State-owned ...
sand_puppy's picture
sand_puppy
Status: Diamond Member (Online)
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Posts: 1761
Where refugees come from

DennisC's picture
DennisC
Status: Gold Member (Offline)
Joined: Mar 19 2011
Posts: 271
Tres Amigos

Namaste.

(N.B.  I'm not sure the guy on the right has figured it out; going for the "temple fingers" instead.  Regardless, I'm confident we're in good hands given the track records.)

link: http://www.zerohedge.com/news/2015-12-07/latest-revolving-door-farce-ber...

Satanic Reptilian NWO EUSSR Mind Control Paid Troll's picture
Satanic Reptili...
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A mood of near-panic seized

A mood of near-panic seized France’s mainstream political parties as they scrambled to prevent two – and maybe three – French regions falling under the flag of the far-right for the first time since 1944.

http://www.independent.co.uk/news/world/europe/frances-far-right-front-n...

blackeagle's picture
blackeagle
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Posts: 216
Genuine picture?

Sand_Puppy

This picture looks forged.... the rumbles are too fuzzy... sun light on some heads is inconsistent with the majority... overall I feel the scale is not true...

If it is the case, then this is a shameful piece of disinformation. Hollywood-type images never contribute to the truth. Especially when people are suffering. The person who made this picture should have thought twice before doing it.

sand_puppy's picture
sand_puppy
Status: Diamond Member (Online)
Joined: Apr 13 2011
Posts: 1761
Photoshopped Picture

I do see what you mean, blackeagle.  The people are well dressed and kind of orderly and yet they are walking through bombed out ruins.  Seems like the crowd and the ruble were photoshopped together.

I guess that we must regard the picture as a metaphor, rather than as documentation of a physical event.

 

 

russiaways's picture
russiaways
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Joined: Nov 4 2008
Posts: 18
Finland could have a good idea...

If it's per person giveaway was paired with a simple sales/consumption only tax base, so as to function as a refund to minimum/no income earners, and as an average social services payment.  The savings of tax and bureaucratic overhead in the government sphere could be used in conjunction with a cultural reorientation towards former mechanisms of charitable institutions to handle social needs.  This voluntary and personal responsibility to help your fellow citizen's needs would help knit society back together as well rather than the abdication of it as felt when passing by a panhandler who is assumed to have government sponsored institutions available for support.  A measured transition to this kind of system could minimize disruptions and support awareness of a more resilient and cooperative model than the inevitable implosive future of ever larger and more intrusive government based models (seems democracy, communism, etc. all share that fate). 

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