Daily Digest

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Daily Digest 1/19 - PR's Democracy At Risk, How Real Is The Oil Glut?

Tuesday, January 19, 2016, 11:34 AM

Economy

Rip-off By The Federal Reserve (Jim C.)

A mathematical analysis reveals the Fed operates a Ponzi scheme designed to inherently bankrupt the nation and steals the wealth of the nation.

Why This Slump Has Legs (PBD)

How do we know a ‘recovery’ is so far off it’s really no use to even talk about it? As I said, it’s easy. Let me lead this in with a graph I saw just today, which deals with a topic the Automatic Earth has covered a lot: marginal debt, or more precisely, the productivity/growth gained from each additional dollar of debt.

Why Indoor Air Quality is Important to Schools (TOF)

In recent years, comparative risk studies performed by EPA and its Science Advisory Board (SAB) have consistently ranked indoor air pollution among the top five environmental risks to public health. Good IAQ is an important component of a healthy indoor environment, and can help schools reach their primary goal of educating children.

Market Meltdown? Move Into Gold! (Tiffany D.)

There will be sectors that plummet, some stocks will fall to zero, while others will thrive, like the opportunity today — we may even see another bounce in the market before shares fall off the cliff.

But that’s exactly why I’m not recommending a typical blue-chip U.S. stock. Instead, we are going to go into one of the only safe havens during a market meltdown: gold.

Puerto Rico’s democracy at risk (thc0655)

The authority will also make “recommendations” on all the financial affairs of Puerto Rico — including all personnel salaries, firing of workers, reduction of pensions, elimination of services and the use of “alternative service delivery mechanisms, including privatization and commercialization.”

Ikea exec says we've hit 'peak home furnishings' (Uncletommy)

"Demand [for furniture and furnishings] has not really picked up as much as it could have due to the growing proportion of consumers renting rather than owning their own place," said Ratna Sita to the Financial Times in the U.K., adding that they're more frequently buying portable multi-use products, like sofa beds.

Global Tensions Threaten to Upstage World Economic Forum in Davos (jdargis)

Klaus Schwab, the World Economic Forum’s founder and one of the best-connected men on the planet, is nonetheless using the forum’s website to urge the cadre of bankers, politicians, tech executives and trend makers to ponder “the fusion of technologies across the physical, digital and biological worlds, which is creating entirely new capabilities and dramatic impacts on political, social and economic systems.”

The Condensate Con: How Real Is The Oil Glut? (Josh O.)

Brown points out that U.S. net crude oil imports for December 2015 grew from the previous December, according to the U.S. Energy Information Administration (EIA), the statistical arm of the U.S. Department of Energy. U.S. statistics for crude oil imports include condensate, but don't break out condensate separately. Brown believes that with America already awash in condensate, almost all of those imports must have been crude oil proper.

Negative Oil Prices Arrive: Koch Brothers' Refinery "Pays" -$0.50 For North Dakota Crude (PBD)

High-sulfur grades are more expensive to refine and thus fetch lower prices at market. As Bloomberg goes on to note, “Enbridge stopped allowing high-sulfur crudes on its pipeline out of North Dakota in 2011, forcing North Dakota Sour producers to rely on more expensive transport such as trucks and trains [and] the price for Canadian bitumen -- the thick, sticky substance at the center of the heated debate over TransCanada Corp.’s Keystone XL pipeline -- fell to $8.35 last week, down from as much as $80 less than two years ago.”

Giant icebergs help the Southern Ocean soak up carbon (jdargis)

Iron is a trace nutrient that is critical for photosynthesis. The Southern Ocean has low concentrations of dissolved iron compared to other oceans, leading to lower levels of carbon sequestration—approximately 10 percent of the global sequestration. However, scientists think that sources of iron can lead to elevated localized levels, which could dramatically increase carbon sequestration. The impact of these local changes on the overall carbon sequestration of the Southern Ocean is not well understood.

Gold & Silver

Click to read the PM Daily Market Commentary: 1/15/16

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."

12 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
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Posts: 4149
China Is Getting Less and Less Bang for Its Credit Buck

China Is Getting Less and Less Bang for Its Credit Buck

Bloomberg-43 minutes ago
Producer-price deflation is complicating matters for indebted companies as they struggle to pay off loans at the same time prices of their products fall.

Illinois Budget Deadlock Hits College Enrollments

Wall Street Journal-16 hours ago
Illinois has the lowest credit rating of any state in the nation and the comptroller estimates the state is on track for a deficit of $5 billion, or nearly 15% of annual ...

Budget battle to leave Chicago State University broke by March

Northwest Herald-11 hours ago
The problem at Chicago State is shaping up as a wider higher-education funding crisis because of the six-month budget standoff between Republican Gov.

Petronas to Cut Spending by $11.4 Billion Over 4 Years, WSJ Says

Bloomberg-8 hours ago
Petroliam Nasional Bhd. plans to cut expenses by as much as 50 billion .... cut and 100 basis point reserve ratio reduction this quarter, plus a wider fiscal deficit ...

The last 'gold-plated' pensions could disappear from large firms 'within a year'

Telegraph.co.uk - ‎6 hours ago‎
JLT Employee Benefits, a company that assists companies with pension deficits, has reported that the combined deficit among FTSE 250 companies - those listed on the stock exchange that are bigger than all but the largest 100 firms – increased to a ...
 

UK pensions changes: Osborne prepares to raid retirement savings ...

City A.M.-6 hours ago
Pension savers should brace themselves for another round of changes to the ... actually be able to take the money out tax-free – especially if there's a deficit?

Spanish treasury places 4.9 bln euros on market at negative interest ...

Shanghai Daily (subscription)-2 hours ago
19 (Xinhua) -- The Spanish treasury placed on Tuesday treasury bills valued at 4.9 billion euros (5.33 billion U.S. dollars) on the market at negative interest rates ...
 

Canada may slash key rate to negative on collapsing oil prices

RT-6 hours ago
... Bank governor Stephen Poloz said the effective lower boundary for Canada was about minus 0.5 percent, raising the possibility of negative interest rates.
 

Latam faces longest recession since 1980s

Financial Times - ‎6 hours ago‎
Latin America will suffer a second straight year of recession in 2016, the first time it has seen back-to-back years of economic contraction for more than 30 years, the IMF said today. As recently as October, the IMF forecast in its half-yearly World ...

Morgan Stanley sees 2016 global recession risk as high as 20 percent

Reuters UK-4 hours ago
A global recession is loosely defined as growth below the roughly 2.5 percent ... "Two and a half percent seems to be the danger area for global recession, ...

European Bank Stocks Rewind to 2012 as Draghi Rally Wanes: Chart

Bloomberg-16 hours ago
Now, lenders are grappling with tougher financial regulations, concerns about levels of bad loans and a slowdown in China that could hurt growth prospects ...

Portugal's austerity reversal may spell budget trouble

Reuters-47 minutes ago
LISBON Relatively calm euro zone debt markets are helping Portugal's new Socialist government deliver on promises to reverse austerity, but the risk of budget ...

Hedge Fund That Called Subprime Crisis Says Yuan Should Fall 50%

Bloomberg-18 minutes ago
Mark Hart, the hedge fund manager whose bets against U.S. subprime mortgages and European sovereign debt proved prescient, said China should weaken its ...

Study: Food tax sends Kansans across state lines to buy groceries

KMBC Kansas City - ‎17 hours ago‎
Researchers at Wichita State University estimate Kansas has lost $345 million in food sales to surrounding states because of higher sales taxes on groceries. In Kansas, food is subject to a 6.5 percent sales tax. In Missouri, it's 1.225 percent. Local ...

Average homeowner in Mass. to see taxes rise 4%

The Boston Globe-10 hours ago
The average property tax bill for a single-family home this year is $5,438, or 3.9 percent higher than last year's average of $5,232, according to a Globe analysis ...

Oil Claims Another Victim as Cheap Fuel Keeps Metals Glut Going

Bloomberg-6 hours ago
“There is an incredibly powerful link between base metals and oil prices,” said ... to trim operating costs and output, sell assets and shares, and reduce their debt.

 

sand_puppy's picture
sand_puppy
Status: Diamond Member (Offline)
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Posts: 1895
Accidental Concentration of Wealth

It is always important to remember that the wealthy did not work together to get wealthier.  It just happened accidentally.  All that foolish talk about the world banking system being designed to concentrate wealth is just that.  Foolish.

And as the article noted, the wealthy at Davos are being encouraged to work on the problem of wealth inequality. 

Oxfam says wealth of richest 1% equal to other 99%

The richest 1% now has as much wealth as the rest of the world combined, according to Oxfam.

It uses data from Credit Suisse from October for the report, which urges leaders meeting in Davos this week to take action on inequality.

 

Fortunately, the uber-wealthy have deeply egalitarian values and see the pain their activities are causing to others.  They do not want to cause harm to anyone.  They are caring people.  We can be assured that now that these kind men and women are working on it the wealth inequality problem will be solved fairly soon.

And this man is an excellent poker player who believes in playing by the rules, that everyone be treated fairly and the overarching goal of poker is having a good time.   Though he does seem to be raking in pot after pot right now.  (I'm not sure why.)

And these two economic advisors meet to discuss how to better serve their client's needs.  He has half a million dollars to invest and they wish to help him reach his personal investment goals.

A financial advisor studying the stock market before starting a day of doing God's work by helping people.

smiley

Uncletommy's picture
Uncletommy
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Posts: 573
When considering concentrations of wealth, consider. . .

The concept of unintended consequences seems to becoming more of a factor in our technological age. Mr. Newton noted (and I paraphrase) "for every action, there is an opposite and equal reaction." So it goes with dirty oil. As we drill deeper and into more ancient fossil energy sources, we run into the remnants of pre-oxygen, sulfur based energy system(?), organisms that leave their telltale signature in the strata of rock at the +2000 metre range(mainly western sedimentary basin) that appears to be emerging faster than we can figure out what to do with it.

There is only so much sulfur based, inorganic, fertilizer one place on his tomato plants before it has negative implications for plant and soil health. Perhaps this identifies what low-sulfur diesel in your Audi looks like:

http://www.canadianswinnipeg.org/apps/blog/show/43158598-energy-east-problem-sulphur-and-hydrogen-sulphide

Where I live, I can see a gas plant that runs gas between 28 and 34% sour. Maybe that smell isn't from my septic tank!

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
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Posts: 4149
Michael Pento Financial Crisis 2016 - This Is Not 2008: It’s Act

Financial Crisis 2016 - This Is Not 2008: It’s Actually Worse

 

Canada watchdog sees household debt ratio climbing in 2016

Reuters-2 hours ago

The ratio of total household debt to disposable income is expected to rise to 174 ... Canada has experienced the largest increase in household debt relative to ..

Meet Four Guys Betting Canada Is Due for Quantitative Easing

Bloomberg-8 hours ago
Former debt traders at big banks, they say Canada is ripe for a program of large-scale bond purchases increasingly common to central banks that have run out ...

$200 trillion debt 'burden' will ruin emerging markets, global growth ...

Sydney Morning Herald-51 minutes ago
The world is burdened by $200 trillion in debt that won't get paid back and will ultimately destroy emerging market economies and global growth, according to ...

Greek president calls for debt relief after ECB visit

Kathimerini-5 minutes ago
Greece will live up to its bailout commitments but its lenders must also keep their pledge to restructure the country's debt, President Prokopis Pavlopoulos said ...

Faber: China's growth is nearer 4%

CNBC-10 hours ago
"We have this colossal debt bubble in China and in my opinion this will have to be deflated through either huge losses in the banking sector or losses in the ...

 

sand_puppy's picture
sand_puppy
Status: Diamond Member (Offline)
Joined: Apr 13 2011
Posts: 1895
Exactly!

When considering concentrations of wealth, consider. the concept of unintended consequences...

Which is exactly what I was trying to say.  They did NOT intend to hoard wealth, it just happened as an unintended consequence of "the system."

The issue is intent.

But, if we understand that these men are liars, swindlers and a professional con men who steal cash from people by deception, we would be much less willing to follow their financial advice and believe their words. 

 

Cornelius999's picture
Cornelius999
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Joined: Oct 17 2008
Posts: 379
The Gibbet

sand_puppy, I value all of your postings hugely, and have learned so much from them, but apart from letting off justified steam, or enabling the rule of law or at least natural justice, on the wealthy, I fail to see what good can come of berating them past a certain point. We need to see justice implemented by all means, but then move to pressing reform issues rather than have our social fabric rent apart by vengence and factionalism that will result. Redistribute their wealth too by all means etc. As Catherine Ann Fitts kinda says none of us are 100% pure.  

Fortunately, or unfortunately, I can't claim to be related or to know anybody particurlarly wealthy! 

Mark Cochrane's picture
Mark Cochrane
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Posts: 1222
Reality shows as leading indicators?

I gave up on TV years ago when "reality" TV came along. I thought 'Reality TV' had nothing to do with reality but perhaps I got it wrong. Maybe it was just the leading indicator of where US culture/society was going to be in a decade or two?

Donald Trump presidential bid gets Sarah Palin backing

Trump + Palin, is that a dream ticket or what?

Never say that things can't possibly get worse. They can always get worse...

Cornelius999's picture
Cornelius999
Status: Gold Member (Offline)
Joined: Oct 17 2008
Posts: 379
Ireland of the Welcomes

You'll be glad to hear Mark, that when Trump arrived at Shannon Airport in his executive 747 well before any election activity, visiting his Irish Manor, either a cunning government minister or a more cunning local offical took their chance; the Titan strode onto an extensive red carpet at the end of which was gentle Irish Colleen welcoming him with a mellifious harp.  And you could see that this fine man saw it only as his due!  The Leprecaun must have been held up in traffic.

Arthur Robey's picture
Arthur Robey
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Posts: 3936
Canada writes an Energy Paper.
This paper reviews the energy portfolio of Department of National Defence (DND) and of the Canadian Armed Forces (CAF) from different perspectives based on recent data analyses of the energy used over several years. Then it shows a projection of the potential impacts on current and future DND/CAF capabilities of selected emerging technologies (nuclear and non-nuclear). When possible, it estimates the potential life-cycle cost savings from the hypothetical adoption of such technologies that minimize operational cost and waste management burden. Keywords: Energy use, capability, emerging technology, efficiency, energy/power density, waste.
 
 
LENR is mentioned as a wild card. 
I find it interesting how quickly the Trolls infest the site. I interpret this to be evidence that someone is taking this seriously. 
But there is no such thing as bad controversy.

http://www.lenr-forum.com/forum/index.php/Thread/2629-DND-CAF-Energy-Hor...

 
Michael_Rudmin's picture
Michael_Rudmin
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Posts: 839
Sand Puppy, is that actor you?

The nose, the facial shape, and so on all are the same. Is that a photo of yourself? and from what play is the photo?

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
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Posts: 3936
An interesting comment.

The graphs are nice. I just add some info regarding Ecat X: It joins the oval where the Ecats are collected in the last graph. Assuming 400 grams, COP 10, the Ecat X has an energy density of 1.4 * E12 J/kg and a power density of 4.5 * E4 W/kg Net. But it all has to be proven.

Strewth! 45kW/kg. It must be very energy efficient. Even a small % loss would destroy the device.

Background information: Rossi has a new printed circuit device (excellently low manufacturing costs) that produces electricity directly, without needing to convert heat into electrical energy.
I have in my mind a stack of PC boards in a cube. It therefore must have an integral heat exchanger built throughout to take away the excess heat released by whatever the inefficiencies are.
Depending on the thermal tolerances of the PC boards this waste heat will either be high grade or not. (PC=printed circuit)
This design may allow for automated 3d printing. (A do-it-yourself nuclear reactor. Just download the shareware over the net.)
"Proof" is a word invented by the Devil to confuse. There is no such thing as "proof". My maths lecturer told me that. "Proof " is whatever we agree is proven. Does 1=1? The evidence suggests that it does. 

EDIT: (sorry) Cold fusion devices have been known to explode with more energy than could be available from chemistry alone,  and hence the need for strong working hypothesis. 

CF requires an energy source to operate,  which gives us a modicum of control. In the old days it has been seen to exhibit "heat after death" or a self sustaining mode,  which is undesirable. 

sand_puppy's picture
sand_puppy
Status: Diamond Member (Offline)
Joined: Apr 13 2011
Posts: 1895
I'm trying to be too clever

What I was trying to say in these last two posts is

Please don't believe these guys.  They are lying and swindling.

I heard a recent lecture titled "Solve 9/11, End Wars."

The wars and fleecing are based believed myths.  What I pray for is that enough of us bright people see the deceptions, how they work, and come to understand that we are being lied to in a systematic, coordinated manner.

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