Daily Digest

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Daily Digest 7/18 - Corporate Profits Brace For Fourth Losing Quarter, The Purge Begins In Turkey

Monday, July 18, 2016, 10:14 AM

Economy

Corporate profits brace for fourth straight losing quarter (lambertad)

“We are in a slow weak-growth environment,” said Jonathan Golub, senior equity strategist at RBC Capital Markets, who recently cut his earnings forecast for the S&P 500, saying profits will be slightly lower for the year. “What investors are looking for is confirmation that we are not stuck in negative territory.”

The EU Is Not About Free Trade——It’s About Building A Superstate (CleanEnergyFan)

On top of the economic and moral perversity within each country of punishing the productive and subsidizing the unproductive, another layer of international income- and wealth-redistribution is added: of punishing economically better performing countries like Germany and the countries of northern Europe and rewarding economically worse performing countries (mostly of southern Europe) and thus successively rendering the economic performance of all countries equally worse.

A jittery Cleveland prepares for RNC opening night: ‘Make America Safe Again’ (jdargis)

And presumptive Republican nominee Donald Trump will greet them with a new focus for the convention’s Monday opening: A “Make America Safe Again” night featuring retired Lt. Gen. Michael Flynn, briefly considered a potential Trump running mate.

How George Soros Singlehandedly Created The European Refugee Crisis - And Why (CleanEnergyFan)

When the war ended, Soros moved to London and in 1947 enrolled in the London School of Economics where he studied under Karl Popper, the Austrian-British philosopher who was one of the first proponents of an “Open Society.”

Soros then worked at several merchant banks in London before moving to New York in 1963. In 1970, he founded Soros Fund Management and in 1973 created the Quantum Fund in partnership with investor Jim Rogers.

26 police killed so far in 2016, up 44% from 2015 (jdargis)

"That's certainly a concern for us. It's troubling and it's something that we watch," Breul, a former Washington, D.C., police officer, said about the shootings. "It's really an assassination. You're taking advantage of an officer and you're ensuring that you're able to kill them through them either being vulnerable or through a complete surprise attack."

The Purge Begins In Turkey (jdargis)

The confrontation was a long time coming. When Erdoğan first became Prime Minister, in 2003, he was the Islamic world’s great democratic hope, a leader of enormous vitality who would show the world that an avowedly Islamist politician could lead a stable democracy and carry on as a member of NATO, too.

Big Oil Begins To Worry About Trump’s Wall (Josh O.)

As Bloomberg noted at the time of the report, Mexico has become a priority market for U.S. shale producers pressured by the commodity price slump. Bloomberg New Energy Finance policy analyst Stephen Munro told The Street that Mexico is more lucrative than the U.S.’ other neighbor, Canada, simply because it is a developing economy, and developing economies need more energy. Mexico also has underdeveloped energy wealth, and big oil has a problem with its reserves replacement, so the way things are right now is beneficial for both sides.

A Fish So Coveted People Have Smuggled, Kidnapped, and Killed For It (jdargis)

In Chinese, the creature is known as long yu, the dragon fish, for its sinuous body plated with large scales as round and shiny as coins. At maturity, the primitive predator reaches the length of a samurai sword, about two to three feet, and takes on a multihued sheen. A pair of whiskers juts from its lower lip, and two gauzy pectoral fins extend from its sides, suggesting a dragon in flight. This resemblance has led to the belief that the fish brings prosperity and good fortune, acting as a protective talisman to ward off evil and harm.

Gold & Silver

Click to read the PM Daily Market Commentary: 7/15/16

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."

6 Comments

saxplayer00o1's picture
saxplayer00o1
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Posts: 4064
Canada's Oil Heartland Is In the Midst of its Worst Recession

Fitch: Japan Post-Election Stimulus May Raise Fiscal Risks

Reuters-6 hours ago
In addition to fiscal stimulus, monetary stimulus has been significant with the Bank of Japan adopting a negative interest rate since the start of the year.

Central bank official says China has room to increase fiscal deficit to ...

Reuters-12 hours ago
BEIJING China has room to increase its fiscal deficit ratio to between 4 and 5 percent to more effectively boost the economy, official media quoted a central bank ...

BOE's Vlieghe Says Post-Brexit Economy Needs Range of Stimulus

Bloomberg-8 hours ago

Gertjan Vlieghe, who was alone in voting for an interest-rate cut at the latest Bank of England meeting, said the U.K. needs a range of stimulus to combat the

China woes dent Singapore exports, more stimulus may be needed

The Indian Express - ‎11 hours ago‎
Singapore's exports skidded in June as shipments to China and Europe continued to contract, suggesting the trade-reliant economy may need more stimulus to support a fragile recovery in the face of weak global demand and concerns over Brexit.

Singapore Bondholders Brace for Defaults as Easier Terms Sought

Bloomberg-17 hours ago
Singapore dollar bondholders, already stung by the first default since 2009, face more companies struggling to meet the terms of their debt, after two oil and gas ...

Slowing China home price rises add to doubts about economy

Reuters - ‎9 hours ago‎
The concern is that tighter mortgage rules in the largest cities have not cooled prices enough, while fragile markets in secondary cities that are beset by oversupply likely need more stimulus to keep prices from sliding again. After the investment ...

 

Nigeria Inflation 16.5% in June, Highest in Almost 11 Years

Bloomberg-7 hours ago

Nigerian inflation accelerated to the highest rate in almost 11 years in June, complicating the task of the central bank in an economy which is at risk of ..

Canada's Oil Heartland Is In the Midst of its Worst Recession on ...

Bloomberg-46 minutes ago

While the recent episode seems poised to be the worst single recession on record, the two recessions in the 1980s mean that stretch "is still likely to be regarded ..

IMF to slash UK growth forecasts in wake of Brexit vote

Telegraph.co.uk-10 hours ago
Published before the June vote, it said a messy exit would plunge the country into recession. However, the Government's decision to abandon a plan to balance ...

Draghi to ask governments to chip in to counter Brexit fallout

Daily Sabah - ‎15 hours ago‎
The European Central Bank, widely expected to hold fire on monetary policy next week, will likely prepare the ground for more stimulus measures in September as the economic fallout for the eurozone from Brexit becomes clearer, analysts predicted.

Kansas raid on pensions only worsens problem

Kansas City Star-19 hours ago
Kansas' pension systems have struggled since the Great Recession, and the state's lack of financial discipline will make the situation worse, not better. Changes ...

Moody's warns on Bank of Ireland's growing pension deficit

Irish Times-6 hours ago
... pension deficit is negative for its debt dynamics as it probably will exceed the ... from €740 million in December last year to €1.2 billion at the end of June.

Company pension schemes 'in danger' as deficits grow

BT.com-1 hour ago
Dig further into the data and you find that UK final salary pension schemes had an eye-wateringly high combined deficit of £383.6 billion at the end of June 2016 ...

Sonoma County pension panel sounds alarm over rising taxpayer ...

Petaluma Argus Courier-6 hours ago
Taxpayer costs for Sonoma County employee pensions are set to continue ... pension system, but costs have continued to rise and unfunded obligations — the ...

Household debt rises despite gov't projections

The Korea Herald-13 hours ago

[THE INVESTOR] South Korea's household debt jumped more than 36 trillion won (US$ 31.70 billion) during the first five months of the year, Bank of Korea data .

My Venezuela Nightmare: A 30-Day Hunt for Food in a Starving Land

Bloomberg-6 hours ago

Venezuela's collapse into disarray is of a scale unseen in the Western Hemisphere in decades. In an effort to illustrate what day-to-day life is like on the ground, ..

Venezuela crisis: 123000 cross border shopping for scarce food, medicine

The Indian Express - ‎13 hours ago‎
Venezuela, Venezuela crisis, Venezuela food crisis, Venezuela food shortage, Venezuela government, A man peaks over the crowd waiting to cross the border into Colombia through the Simon Bolivar bridge in San Antonio del Tachira, Venezuela. (Source: ...

Venezuela's Inflation Is Set to Top 1600% Next Year

Wall Street Journal (blog) - ‎3 hours ago‎
While most advanced economies struggle to lift inflation, none would want Venezuela's situation: Consumer-price inflation is forecast to hit 480% this year and top 1,640% in 2017, according to the International Monetary Fund. A shortage of medical ...
Tall's picture
Tall
Status: Platinum Member (Offline)
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Posts: 564
‘Unchecked population growth eating away all resources’

I am surprised to hear it discussed by professionals and government officials in public....

"Stating that controlling population was the responsibility of all, he exhorted the people to realise their responsibilities to initiate steps to prevent its rise further and save the country from unemployment, food shortage, illiteracy, poverty, ecological imbalance and also from heading towards the brink of disaster."

http://www.thehindu.com/news/national/karnataka/unchecked-population-gro...

 

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4064
CalPERS Headlines, after earning less than 1% for fiscal year

CalPERS posts worst year since 2009, with slim returns

Los Angeles Times - ‎2 hours ago‎
The California Public Employees' Retirement System said Monday its rate of return for the year ended June 30 was just 0.61%. What's more, the pension fund's chief investment officer told Bloomberg that CalPERS is now below its long-term expected returns.
 

Calpers Reports Lowest Investment Gain Since Financial Crisis

Wall Street Journal - ‎3 hours ago‎
The largest U.S. public pension posted its lowest annual gain since the last financial crisis due to heavy losses in stocks. The California Public Employees' Retirement System, or Calpers, said it earned 0.6% on its investments for the fiscal year ...
 

Calpers Earned 0.6% as Long-Term Returns Fall Below Target

Bloomberg - ‎2 hours ago‎
Calpers's annualized returns were 6.9 percent for the last three years, 5.1 percent for the last 10 years and 7 percent over 20 years, according to a presentation to the board. It is among U.S. pensions under pressure to boost investment returns as ...
 
 

CalPERS earned less than 1% in fiscal year

Sacramento Bee - ‎4 hours ago‎
In the past few years CalPERS has imposed significant rate increases on the state, local governments and school districts. The state's annual bill rose by $600 million this year, to $5.4 billion a year. Besides dealing with lingering effects of the ...
 

Borenstein: More CalPERS pension debt to hit taxpayers

The Mercury News - ‎3 hours ago‎
The problem is exacerbated because CalPERS' board is dominated by labor representatives and labor-backed politicians susceptible to worker pressure to keep the investment return forecast high. The resulting lower up-front contribution leaves more money ...
saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4064
former Minneapolis Fed President Narayana Kocherlakota

Fed made the poor even poorer, a former insider says

"In a new blog post, former Minneapolis Fed President Narayana Kocherlakota twists this argument on its head, although he agrees that the Fed did make the poor even poorer.

 

He cites data from the Fed’s Survey of Consumer Finances showing that the typical family in the bottom of the wealth distribution was worse off in 2013 than it had been in any year going back to 1989.

Kocherlakota, now an economics professor at the University of Rochester, said the Fed didn’t buy enough assets.

“Inequality rose because monetary policy was too tight, not because it was too easy,” said Kocherlakota, a noted dove on the Fed’s policy committee."

Time2help's picture
Time2help
Status: Diamond Member (Offline)
Joined: Jun 9 2011
Posts: 2766
Another Beautiful Day

In a Dying Empire. On a Dying Earth.

KennethPollinger's picture
KennethPollinger
Status: Platinum Member (Offline)
Joined: Sep 22 2010
Posts: 653
It's beautiful in Canada TOO!!!

> IS THIS OUR FUTURE???

>

>

> Canada does it again . . . coming here soon to a

> school near you . . . ......

>

>

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