Daily Digest

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Daily Digest 12/15 - Germany Pledges To Cut Immigration, The Planet Is Dying Of Consumption

Tuesday, December 15, 2015, 12:48 PM

Economy

For Millennials, Rising Interest Rates Sound Like Olden Tales (Merle2)

Yes, back before mankind had Twitter or iPads or even iPhones, your parents used to worry about interest-rate increases. And they had much to fear: between June 2004 and June 2006, Federal Reserve policymakers raised the federal funds rate 17 consecutive times.

France may consider public Wi-Fi ban during emergencies (westcoastjan)

The report also says French police have asked for additional powers. They want to make free, shared Wi-Fi illegal during states of emergency.

They also are reportedly looking at completely outlawing Tor, free software which allows anonymous internet browsing and messaging.

Junk Contagion Spreads: Investment Grade Bonds Plunge To 2-Year Lows, Treasury Liquidity Collapses, CLOs Next (Kevin J.)

Finally, why is the contagion spreading? Because as we noted earlier today, when the dreaded "gates" arrive you sell what you have to: "One of the sad side-effects, is successful strategies, with liquid investments that are built for volatile markets and have no gates, become the piggy-bank for everyone that needs cash. Investors end up liquidating the good ones and are forced to keep the bad ones"

Texas plumber wants $1 million from dealership that sold his truck to jihadists (richcabot)

By the end of that day, “Mark-1's office, Mark-1's business phone, and Mark's personal cell phone had received over 1,000 phone calls from around the nation,” ranging from degrading to expletive-laced death threats, according to the lawsuit filed in Harris County by Oberholtzer’s attorneys. Up to 200 calls per day continued to come in over the next three weeks, and the plumber still gets calls to this day, especially after Islamic State (IS, formerly ISIS/ISIL) commits an atrocity somewhere, the lawsuit said.

US failed to prevent Turkey from downing Russian jet despite air safety deal – Moscow (richcabot)

On November 24, a Turkish F-16 downed a Russian Sukhoi Su-24 bomber near the Syrian-Turkish border, leaving one pilot dead, and badly straining relations between Moscow and Ankara. Turkey refused to apologize, insisting the Russian warplane had violated its airspace and had been warned many times.

Why Has The Labor Participation Rate Plunged? (Aaron M.)

Here's the participation rate going back to the 1950s. I've noted the key developments: the mass entry of women and the Baby Boom into the work force in the late 1960s-early 1970s; the peak of financialization and debt-based speculation in the 1990s through 2007; the advent of automation capable of eating not just low-skill jobs but middle-class jobs, and the diminishing return on further financialization/speculative bubbles.

Abe Sells Elderly on Charms of Country Life to Save Economy (Uncletommy)

Abe put tackling Japan’s declining population at the top of his agenda in September in a revamp of his economic policies known as Abenomics. The government is trying to reverse two unwelcome trends. A surge in Tokyo’s elderly population over the next 10 years may overwhelm urban healthcare systems; while depopulation and stagnant economies in rural Japan are set to leave nursing homes and hospitals half-empty.

Angela Merkel pledges to cut German immigration figures but rejects limit (jdargis)

After weeks of increasingly vocal dissent from the right wing of the CDU, many commentators had expected the party conference in Karlsruhe to be the stage for a showdown between Merkel and her critics. Instead, Merkel emerged from the gathering largely unchallenged, with an overwhelming majority of delegates voting in support of her roadmap for dealing with the refugee crisis. Only two delegates voted in favour against her proposals.

Fish Stocks Are Declining Worldwide, And Climate Change Is On The Hook (Merle2, Adam)

Britten and some fellow researchers looked at data from a global database of 262 commercial fish stocks in dozens of large marine ecosystems across the globe. They say they've identified a pattern of decline in juvenile fish (young fish that have not yet reached reproductive age) that is closely tied to a decline in the amount of phytoplankton, or microalgae, in the water.

AP: Global supermarkets selling shrimp peeled by slaves (richcabot)

Pervasive human trafficking has helped turn Thailand into one of the world's biggest shrimp providers. Despite repeated promises by businesses and government to clean up the country's $7 billion seafood export industry, an Associated Press investigation has found shrimp peeled by modern-day slaves is reaching the U.S., Europe and Asia.

The Planet Is Dying Of Consumption And Only We Can Halt The Process (westcoastjan)

That is why if the warming of this planet is to be slowed -- if not halted -- it will not come about by government fiat, nor should it. Governments are reluctant to impose unpopular measures and the corporate sector will resist attempts to curtail our freedom to consume. This is the elephant in the room: the planet is dying of consumption, a fact that was recognized four decades ago.

As Florida Keys flood, property worries seep in (Michael W.)

"We get vocal residents who show up and argue," said Dottie Moses, president of the Island of Key Largo Federation of Homeowners Association, who has never seen such high waters -- or high tempers -- in her 30 years of living here.

Gold & Silver

Click to read the PM Daily Market Commentary: 12/14/15

Provided daily by the Peak Prosperity Gold & Silver Group

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saxplayer00o1
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China Economic Growth Rate Is Seen Falling Until at Least 2018

China's Economic Growth Rate Is Seen Falling Until at Least 2018

Bloomberg - ‎2 hours ago‎
Six of 12 economists surveyed by Bloomberg last week say 2018 will be the turnaround year, while five said it will take until 2019 or after for growth to re-accelerate. The outlook underscores the challenge facing President Xi Jinping as he aims for ...

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