Daily Digest

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Daily Digest 7/8 - Good News Friday: Salt Of The Earth, A 'Lehman Moment' For European Banks?

Friday, July 8, 2016, 7:32 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!


Brexit Is a Lehman Moment for European Banks (jdargis)

The current situation should be both a motivation and an excuse to do what Europe failed to do after the 2008 collapse of Lehman Brothers brought the financial world to its knees: fix its banking system. Here's a snapshot of this year's drop in value of some of the region's biggest institutions...

It Only Took 24 Hours For The Internet To Donate $400,000 To The Family Of Alton Sterling (jdargis)

There have been more than 500 people gunned down by police officers in the first half of 2016 alone, and when institutions seem to fail a population so completely, the people only have each other to turn to for support—especially when that failing institution is the police force. On Friday, a community has sprung up around the victims’ families, and in the past 24 hours a scholarship fund set up for the children of Alton Sterling has raised almost $470,000 from nearly 16,000 contributors as of this writing. He leaves behind five kids.

Iceland's Historic Candidate (jdargis)

At home on the Wednesday morning before the election, Guðni, wearing an Iceland jersey, like every other Icelandic male that day, looked just slightly bemused. (His sons—he and Eliza, who met while studying at Oxford, have four children—were wearing Iceland jerseys, too.) He is tall, with a steady, appealing gaze and the close-cropped hair that Icelandic men favor, and he seemed startled by his own ascent.

Selfishness Is Learned (jdargis)

The researchers worked under the assumption that snap judgments reveal our intuitive impulses. Our intuition, apparently, is to cooperate with others. Selfish behavior comes from thinking too much, not too little. Rand recently verified this finding in a meta-analysis of 51 similar studies from different research groups. “Most people think we are intuitively selfish,” Rand says—based on a survey he conducted—but “our lab experiments show that making people rely more on intuition increases cooperation.”

The Large Hadron Collider is quietly having a phenomenal year (jdargis)

Last year's run was all about taking the LHC to higher energies, which would enable the discovery of heavier particles and make it easier to spot light ones. This year's run was about taking the experience gained last year and using it to produce lots more collisions. So far, everything is going according to plan.

Helpless to Prevent Cancer? Actually, Quite a Bit Is in Your Control (jdargis)

A more recent study published in Nature argues that there is a lot we can do. Many studies have shown that environmental risk factors and exposures contribute greatly to many cancers. Diet is related to colorectal cancer. Alcohol and tobacco are related to esophageal cancer. HPV is related to cervical cancer, and hepatitis C is related to liver cancer.

And you’d have to be living under a rock not to know that smoking causes lung cancer and that too much sun can lead to skin cancer.

Salt Of The Earth (jdargis)

In addition to attracting rock-star chefs and tourists, this marvel of ancient engineering drew photographer Juan Manuel Castro Prieto, who captured these images. “The people of Maras have preserved traditions that have been lost elsewhere,” Prieto says. “I’m always looking to reflect everyday life. Nothing extraordinary happens in my pictures.” Here, however, the ordinary is nothing short of astounding.

The Fall of the Sugar Goliath in Hawaii Makes Way for the Return of Kalo (jdargis)

Noho'ana Farm, the one with the little sign out front, is devoted exclusively to growing kalo, and it sits on a plot that’s been in Hōkūao Pellegrino’s family since the Great Māhele of the 1850s. That was the first time land in Hawai’i was zoned and privatized under the Kingdom of Hawai’i. Hōkūao is a young father who wanders around his farm with a quiet, staunch focus, and as we stand together, knee-deep in a wetland kalo patch called a lo’i, it’s apparent how crucial this root is to native Hawaiians. They believe they are descended from the plants beneath our feet, “We believe it is our ancestor and our elder brother, Hāloa,” Hōkūao tells me. “Therefore we treat this plant, and all that it does to sustain us, with utmost respect and reverence.”

Gold & Silver

Click to read the PM Daily Market Commentary: 7/7/16

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."


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A dreaded 404 error.


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One Dallas Shooter ID'ed

We know for certain that there was at leat one sniper, it remains unclear if or how many others there might have been.

The first identification of the man cornered in the parking garage and killed by a robot delivered bomb (first official robot death in America?) has been made.

Micah X. Johnson, 25, local man, no know affiliations to any extremist or terrorist groups.

Edit update:  Here are some photos from Micah X Johnson's Facebook page.  Adam and I have long discussed what happens when trained, disillusioned vets decide to use that training here...


The suspect was identified as Micah X. Johnson, 25, a resident of the Dallas area, a U.S. law enforcement official said. Johnson had no known criminal history or ties to terror groups, the official said, and has relatives in Mesquite, Texas, which is just east of Dallas.

The suspect had also said he was not affiliated with any groups and stated that he acted alone, Brown added.



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Email The Photos To Us

Robie -

Email the photos of your mare to [email protected].

We'll get them posted for you.


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IMF downgrades eurozone growth post-Brexit

ECB gives Italy helping hand as banking woes escalate

Reuters - ‎49 minutes ago‎
The rumour and the recent step up in purchases have been a balm for Italy's sovereign debt. At 1.218%, its 10-year yield is a whisker away from the 1.13% low of the last 16-years in March last year. "BTPs have recovered two-thirds of the Brexit ...

Brexit Means Even Mickey Mouse's Yen Bonds Have Negative Yields

Bloomberg - ‎18 hours ago‎
QuickTake Negative Interest Rates. With almost 90 percent of Japan sovereign notes trading at negative yields and corporate issuance just recovering from a six-year slide, fund managers often have little choice but to buy debt that if held to maturity ...

Shoppers Tighten Purse Strings, Make Japan Retailers See Red

Bloomberg - ‎13 hours ago‎
“The exit from deflation is getting more distant, or rather the deflationary mindset is rising,” said Mitsushige Akino, executive officer at Ichiyoshi Asset Management Co. in Tokyo. “The drops in stock prices, the negative interest rates and the ...

BOJ gloomier on consumption, warns of hit from Brexit

Reuters - ‎20 hours ago‎
The central bank also warned that an increasing number of Japanese firms were delaying price hikes on slumping demand, acknowledging that its massive money printing has not eradicated Japan's sticky deflationary mindset. "Some companies worry that ...

Japan policymakers to meet on markets, Bernanke to talk with Abe

Times of Malta-8 hours ago

Some market players speculate Kuroda might decide, in a surprise, to provide “helicopter money” – a term coined by American economist Milton Friedman and .


IMF Urges ECB to Expand Asset Buying If Inflation Doesn't Revive

Bloomberg - ‎1 hour ago‎
While negative interest rates have helped the euro area economy, further cuts may show diminishing returns, meaning the ECB's focus should be on its asset purchase program, according to the IMF. “Further cuts could weigh on bank profitability,” the IMF ...

Untested Debt a Hit as Investors Hunt Yield in Sub-Zero Terrain

Bloomberg-7 hours ago

QuickTake Negative Interest Rates. That's according to Nykredit Realkredit. One of Europe's biggest covered bond issuers, the Copenhagen-based mortgage

China central bank says to keep reasonable growth in credit, social ...

Reuters-3 hours ago
Some Chinese provinces and municipalities "have relatively big reliance on real estate and infrastructure investment", the central bank said in a report on ...

Brexit batters UK consumer confidence, retailers worry over sterling

Reuters - ‎4 hours ago‎
Amid the turmoil, Bank of England Governor Mark Carney said on June 30 that the central bank would probably need to pump more stimulus into Britain's economy over the summer. The Bank's rate setting committee is due to make its monthly policy ...

Bank of Italy says public money needed to help banks

Reuters - ‎5 hours ago‎
Visco, who sits on the European Central Bank's policy-setting governing council, warned of potential systemic effects of a banking crisis for single EU member states and for the euro zone as whole. However, he also said a large part of the soured ...

Monte Paschi working with authorities to solve bad loans

Reuters - ‎16 hours ago‎
The lender has been told by the European Central Bank to slash its debts by 40 percent over 2-1/2 years, a move some analysts say could force it to turn to the market or resort to state aid. The world's oldest bank, which has already tapped investors ...

IMF downgrades eurozone growth post-Brexit

Financial Times-8 minutes ago

If the damage from Brexit turned out to be worse than expected, the IMF said the European Central Bank should unveil more stimulus, preferably by adding to its ..

World faces deflation shock as China devalues yuan at accelerating ...

Telegraph.co.uk-20 hours ago
China's growth rate has picked up to 4pc to 4.5pc following the stimulus measures of the last year, based on a proxy gauge created by Capital Economics.

The Persian Gulf's Huge New Export: Debt

Wall Street Journal-15 hours ago
Saudi Arabia is expected to raise up to $15 billion more in the coming weeks, ... recently to monitor the markets and manage their new debt loads, a sign they ...

France''s State Budget Deficit Widens to EUR65.7 Billion in May

Nasdaq-8 hours ago
PARIS--France's state budget deficit widened to 65.7 billion euros ($72.8 billion) in May from the EUR63.9 billion recorded a year earlier, the budget ministry ...

OECD: EU sanctions on Portugal, Spain is 'last thing we need'

Reuters - ‎3 hours ago‎
"I have gone on the record to say that the last thing we need now is for the Commission to talk about sanctions for countries which may have deviated by 0.2 percent from a path of deficit reduction," Gurria, who heads the OECD which advises developed ...

S&P Downgrades Puerto Rico's Debt to Default

Latin American Herald Tribune - ‎14 hours ago‎
The July 1 default occurred after more than two years of debt-restructuring talks with investors and just hours after President Obama signed a law installing a financial control board to restructure the island's debt and providing a retroactive stay on ...

Scottish pension deficits soar

Herald Scotland-16 hours ago
Scottish companies face a £15billion increase in pension liabilities, according to a half-year report on the health of defined benefit pension schemes by PwC.


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Heat Wave Lifts June to Record Hot Temp for U.S.

This was the first record hot month for the Lower 48 this year, and it boosted the year-to-date temperature to 3.2°F above the 20th century average. That means that at the halfway point of the year, the U.S. is having its third warmest year-to-date, up from the fourth spot at the end of May.



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Some major diseases are declining in developed world

Major diseases, like colon cancer, dementia and heart disease, are waning in wealthy countries, and improved diagnosis and treatment cannot fully explain it.


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Re: One Dallas Shooter ID'ed

Return of the 1968: Year of Dissent. That was the year MLK was assinated as well as the public discontent over the Vietnam war, brought to a boil from the 1968 Tet offensive. There was a violent riot at the 1968 DNC convention. There was 1968 gun control act initiated from the increase domestic violence. Nixon won the presidential election in a landslide victory. Of course things did not get better during the Nixon presidency. We had gas lines, a collapsing dollar, and the begining of stagflation. Seems likely most of the events that happened during Nixon's term could easily repeat under Trump/Clinton.


"The suspect had also said he was not affiliated with any groups and stated that he acted alone, Brown added."

Not sure if that true. I can think of many reasons why the police would not disclose if he was associated with any groups, or simpley don't know. Even if he claimed it was not a member does not mean he wasn't (ie he lied).

I recall reading several articles that they US army has been infultrated with many gang members to obtain training and access to military weapons.  

The FBI Announces Gangs Have Infiltrated Every Branch Of The Military


I can't imagine that an angry man that was willing to target the police and speak of racial discontent isn't connected with a group. 

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Goldmans best investment this week:

Goldman just bought Jose Manuel Barrosa former prime minister of Portugal and president of the European Commission.He will serve as in international chair of Goldman and will help "navigate" Europe's choppy waters.Kinda like Bernanke at Citadel.The revolving door of filth and corruption never ends!Just sickening..

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Chicago on the hook for $24 billion net, triple a year ago

Chicago on the hook for $24 billion net, triple a year ago

Crain's Chicago Business (blog)-22 hours ago
Chicago on the hook for $24 billion net, triple a year ago ... of accumulated pension debt but starkly underlines just how high that mountain had become.

Another financial crisis? Soaring global debt since 2008 raises risk ...

Los Angeles Times-46 minutes ago
Total government debt outstanding worldwide was worrisome in 2008. ... College loans outstanding have rocketed to $1.35 trillion from $589 billion in 2007, ...


First BOE Interest-Rate Cut Since 2009 May Come Next Week

Bloomberg-16 hours ago
Governor Mark Carney has said stimulus is likely to be needed soon and many economists expect the Monetary Policy Committee to act before new forecasts ...

Over a 3rd of world's govt bonds worth $13tn offer negative returns

Times of India - ‎18 hours ago‎
MUMBAI: For the first time ever, nearly $13 trillion worth of government bonds worldwide — representing more than a third of all government debt — have negative interest rates. Returns or yields on bonds drop as their prices rise following an ...

Lehmans 2.0: Keiser insists Deutsche demise makes '2008 crisis ...

RT-17 hours ago
Max, who predicted the 2008 crash, negative interest rates and the rise of virtual currencies, has long described the German bank as “technically insolvent”, ...


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