Daily Digest

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Daily Digest 7/10 - A Week Of Bloodshed In America, World Economy Going "Nowhere Fast"

Sunday, July 10, 2016, 11:05 AM

Economy

Nowhere Fast: Drifting World Economy Skirts Worst But Still Lags (jdargis)

Coming after the deepest recession since the Great Depression, the slow-motion expansion has failed to extinguish the lingering anxiety of consumers and companies scarred by the crisis. That’s led both groups to hold back on their spending, in turn retarding the strength of the upswing.

“It’s been a disappointing expansion, just drifting along,” said Peter Hooper, chief economist for Deutsche Bank Securities Inc. in New York and a former Federal Reserve official. It has, though, been sufficient to reduce joblessness, especially in the U.S., he noted.

A Week Of Bloodshed In America (jdargis)

Thursday night, snipers shot and killed five officers at such a protest in Dallas, Texas. Questions of police brutality, America's historic racism, the Black Lives Matter movement, and second amendment rights have been pushed to the forefront of the nation's consciousness.

Oldest and Youngest May Determine Presidential Election (jdargis)

The numbers make the point. In the 2012 presidential election, Americans between the ages of 29 and 65 split almost evenly, and it is these voters -- soccer Moms or middle-age white workers -- who get the most media attention. But Obama won by running up a larger margin and turnout among 18 to 29 year olds than Mitt Romney was able to muster with voters 65 and older.

How George Soros Singlehandedly Created the European Refugee Crisis—and Why (sand_puppy)

He was once again on the right side of the trade, taking a short position in troubled Deutsche Bank and betting against the S&P via a 2.1-million-share put option on the SPDR S&P 500 ETF.

More interestingly, Soros recently took out a $264 million position in Barrick Gold, whose share price has jumped over 14% since Brexit. Along with this trade, Soros has sold his positions in many of his traditional holdings.

After ‘Brexit’ Vote, Immigrants Feel a Town Turn Against Them (jdargis)

But since Britain’s referendum vote to leave the European Union, latent hostility toward the new arrivals — most of whom came to Boston from Central and Eastern Europe under rules that let European Union citizens live and work anywhere in the bloc — has burst into the open, many immigrants say. Many in the Latvian, Lithuanian, Polish and Romanian communities in the area are anxiously considering whether they should stay in Britain, or whether they even want to.

You Might Make More Money Not Taking That Unpaid Internship (jdargis)

When Dominic Peacock found out he had been selected for an unpaid summer internship at the National Congress of American Indians here, he looked up the airfare from Albuquerque, rejected the option, and boarded a bus and rode 44 hours.

Now, after a long day thumbing through bills and working for legislation to protect tribal artifacts, he walks a few blocks to a hotel restaurant where he buses tables until 1 a.m. His workweek — 60 to 75 hours long — affords him one day off to catch up on chores in his American University dorm room and explore the city.

Gold & Silver

Click to read the PM Daily Market Commentary: 7/8/16

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."

5 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4148
Abe's Fiscal Stimulus Plans to Take Shape After Election Win

Abe's Fiscal Stimulus Plans to Take Shape After Election Win

Bloomberg-7 hours ago
Abe on Sunday night, as his coalition was sealing a majority, repeated his pledge for action on a stimulus package, saying on public broadcaster NHK that “I ...

Yen Rally Halts Near 100 as Abe Ponders Adding Fiscal Stimulus

Bloomberg - ‎4 hours ago‎
The yen halted a four-day rally as investors' focus shifted to Japanese Prime Minister Shinzo Abe's plans for fiscal stimulus after the ruling party's victory in Sunday's upper house election. Close all those tabs. Open this email. Get Bloomberg's ...

Abe set to call for fresh economic stimulus

Nikkei Asian Review - ‎13 hours ago‎
TOKYO -- After a resounding win in Sunday's upper house election, Prime Minister Shinzo Abe will give the go-ahead as early as this week for work on measures to combat deflation and stoke economic growth. "Abenomics won recognition" in the poll, said ...

China June inflation eases further, more policy stimulus anticipated

CNBC-Jul 9, 2016
China's June consumer inflation grew at its slowest pace since January as increases in food prices eased, while producer prices extended their decline

China's soft inflation points to need for more stimulus

Irish Times - ‎11 hours ago‎
Soft Chinese inflation and G20 concerns that the global recovery remains grim are hardening views among some economists that more government stimulus will be needed to support China, the world's second-biggest economy. Consumer inflation last month ...

Black Hole of Negative Rates Is Dragging Down Yields Everywhere

Wall Street Journal-10 hours ago
... downward lurch as economists slash growth forecasts and predict more central-bank stimulus due to the political and business uncertainty the vote unleashed ...

 

KugsCheese's picture
KugsCheese
Status: Diamond Member (Offline)
Joined: Jan 2 2010
Posts: 1447
Abe

Either the Japanese are: 1) Comatose; 2) Senile; 3) Insane; 4) Taken by Rigged Election.

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4148
MarketsYen weakens amid reports of Bernanke's BoJ visit

Funds bet that emergency global stimulus will trump Brexit worries

Telegraph.co.uk-17 hours ago
... even talking of handing out shopping coupons, the ultimate “helicopter money”. South Korea is injecting $9bn of extra spending. Taiwan has cut interest rates.

MarketsYen weakens amid reports of Bernanke's BoJ visit

Financial Times - ‎10 hours ago‎
What really has markets interested is whether than means the two central bankers might discuss the possibility of the BoJ adopting so-called “helicopter money”. Mr Bernanke visited the BoJ today, according to Reuters. The news agency said it was unable ...

Funds bet that emergency global stimulus will trump Brexit worries

Telegraph.co.uk-17 hours ago
... even talking of handing out shopping coupons, the ultimate “helicopter money”. South Korea is injecting $9bn of extra spending. Taiwan has cut interest rates.

Japan Turns Again to Bernanke, as Fruits of Abenomics Wither

Bloomberg - ‎6 hours ago‎
In a surprise move in January, the BOJ unveiled a negative interest-rate policy that commercial banks have criticized for hurting their profits and damaging confidence. Meanwhile, bond market participants and some former BOJ officials have criticized ...

Japan's Gold Sales Jump Thanks to Abenomics Worries

Bloomberg-58 minutes ago
Japanese buyers of gold to store in Switzerland jumped 62 percent in the first six months from the second half of 2015 because of negative interest rates and ...

Italy warned to abide by 'strict' EU bank rescue rules

Financial Times-3 hours ago
Italy has been warned it must abide by “strict” EU rules for rescuing teetering banks that limit Rome's ability to pump public money into the country's financial ...

Italian Bank Debt Changes Game for Renzi With Voters on the Hook

Bloomberg - ‎2 hours ago‎
The lender has about 10.7 billion euros ($12 billion) of bonds with an initial investment designed to attract ordinary families, data compiled by Bloomberg show. It's just the tip of the iceberg: Italian banks together have sold more than 180 billion ...

'Europe is extremely sick', says Deutsche Bank chief economist

RT-6 hours ago
A former member of the ECB executive board Lorenzo Bini Smaghi, and now chairman at Societe Generale, has warned the banking crisis in Italy could spread ...

Deutsche Bank chief economist calls for 150 billion euros in EU ...

Reuters-7 hours ago
... faced with two trillion euros in non-performing loans, Folkerts-Landau said, ... where banks had 350 billion euros in bad loans and debt ratios were on the rise.

Dutch 10-year bonds become latest member of sub-zero yield club

Yahoo Finance-5 hours ago
Fitch Ratings said the Brexit vote has pushed the amount of negative-yielding debt globally to $11.7 trillion. Since Brexit, German 10-year yields have fallen ...

Illinois Awash in Red Ink as Budget Deal Buys It Six More Months

Bloomberg-5 hours ago
And the appropriations make no dent in the $111 billion debt to the state's pensions, one of the biggest drags on Illinois, whose credit rating has fallen lower than ...

Thousands of Venezuelans pour into Colombia to buy food

Aljazeera.com - ‎11 hours ago‎
Tens of thousands of Venezuelans have poured across into neighbouring Colombia to buy basic goods amid shortages at home, during a brief opening of the border that has been closed for almost a year. Venezuelan President Nicolas Maduro closed the ...

Kimberly-Clark halts Venezuela operations on deteriorating economy

Reuters - ‎Jul 9, 2016‎
(KMB.N) on Saturday said it was halting its Venezuela operations due to the deteriorating economic situation that includes soaring consumer prices and shortages of basic goods. Irving, Texas-based Kimberly-Clark, the maker of Huggies diapers and ...
 
 

Venezuela Toilet Paper & Diaper Shortage Gets Worse: Kimberly Clark Shuts Venezuela Operations

Latin American Herald Tribune - ‎17 hours ago‎
"Because of the long history that has Kimberly-Clark operating in Venezuela, today's decision is very difficult, particularly because of the efforts of our employees who have worked diligently, facing growing challenges to keep the business running."

 

TechGuy's picture
TechGuy
Status: Gold Member (Offline)
Joined: Oct 13 2008
Posts: 418
Re: Abe

Since the end of WW2 there has been only one ruleing Party in Japan.  People save, but then vote in politicans that want to debase the currency?

 

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Money, money, money

Since the end of WW2 there has been only one ruleing Party in Japan.  People save, but then vote in politicans that want to debase the currency?

I'm sure that the Japanese value other things above mere money. Things like, Oh I don't know,  Culture, Integrity,  Nationhood.

I'm sure that they are just playing stupid European games and waiting them out. The West will soon collapse in their own moral turpitude. 

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