Economy
Consumer Confidence Collapses To 2 Year Lows (Roger B.)
After a hope-filled bounce in May, The Conference Board’s Consumer Confidence index plunged in June from a revised 131.3 to 121.5 (well below expectations of a modest drop to 131.0).
Warning: Federal Reserve Easing Ahead (Aaron M.)
The chart below presents the cumulative total return of the S&P 500 in periods where our measures of market internals have been favorable, accruing Treasury bill interest otherwise. The chart is historical, does not represent any investment portfolio, does not reflect valuations or other features of our investment approach, and is not an assurance of future outcomes.
Eight Essential Reasons to Open a Brokerage Account for your Kids (and how to automate it for free) (Phil D.)
Deferred gratification – producing more than you consume, and saving the difference – is the key to a life of abundance. Simon Black calls it “the universal law of prosperity”.
As the sky is blue, this will be true for your kids. Starting a saving and investing plan now instills inside of them a lifelong propensity to save. As humans, it is our habits that shape our destiny.
Time for an International Gold Reset (GE Christenson)
In 1933: Gold prices reset, and gold ownership became illegal for US citizens. President Roosevelt issued Executive Order 6102 and forbid US citizens from owning gold, with minor exceptions. Americans received paper certificates for their gold coins. Gold was valued at $20.67 per ounce. Soon thereafter President Roosevelt devalued the dollar, and the gold price rose to $35.00 per ounce.
Scientific Research Shouldn’t Sit behind a Paywall (Thomas R.)
Having paid taxes to support the work, citizens should reap the benefit of that investment. Those benefits include the accelerated advancement of science that occurs when scientists can more easily build upon one another’s work. And it includes the opportunity for the public to read the research for themselves. The University of California supports open access for these reasons.
Unseen 9/11 photos bought at house clearance sale (Thomas R.)
Many of those who worked in the immediate aftermath of the 9/11 attacks went on to suffer illness, with about 400,000 people believed to have been exposed to toxic contaminants, or suffered injury or trauma on the day itself according to the Center for Disease Control and Prevention (CDC).
Apple-Pay And Beyond (Pat O.)
As a result the US patent office and US Fed Court decides to unabashedly deprive Mr Poniatowski of his invention. Brazenly and contemptuously in spite the fact of the presented sound arguments that device employed as a relay does not and can not initiate anything – especially if a commercial transaction was to be initiated and carried out. (USPTO Board of Appeals 2014-007989, Federal Circuit 2017-1346).
Philadelphia Energy Solutions plans to close refinery that caught fire, report says (thc0655)
He was especially irked that a story about the refinery’s possible closure would leak to the news media before the union was notified.
“It’s a disgrace,” he said. He said the refinery’s emergency workers and operators worked through the blasts and fires early Friday bring the fire under control and to shut down the unaffected processing units. “This is what they do to us after we safely shut down the plant while fighting a fire.”
Shale Pioneer: Fracking Is An “Unmitigated Disaster” (fabdave)
So, questionable economics is not exactly breaking news when it comes to shale. But the fact that a prominent former shale executive – who presided over one of the largest shale gas companies in the country – called out the industry face-to-face, raised some eyebrows, to say the least. “In a little more than a decade, most of these companies just destroyed a very large percentage of their companies’ value that they had at the beginning of the shale revolution,” Schlotterbeck said. “It’s frankly hard to imagine the scope of the value destruction that has occurred. And it continues.”
Europe heat wave: France, Germany, Poland, and the Czech Republic set June records (newsbuoy)
“In terms of the time of year and spatial pattern of warmth, the ongoing event in Europe is quite similar to the 2015 European heatwave, which most severely affected southern and central Europe, and which set the all-time temperature records for Germany and Switzerland” Day said, adding that we will need to wait until after the peak of this event to really know how severe it has been.
AMERICAN WARMING: The Fastest-Warming Cities and States in the U.S. (newsbuoy)
These examples may seem extreme, but they are not exceptions. Since 1970, temperatures have risen at nearly 98 percent of the U.S. cities assessed by Climate Central. Ten cities have warmed by at least 4°F. Another 59 cities — including Philadelphia, Atlanta, and Houston — have gotten at least 3°F warmer.
Gold & Silver
Click to read the PM Daily Market Commentary: 6/26/19
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The post Daily Digest 6/27 – Consumer Confidence Collapses To 2-Yr Lows, Fracking An ‘Unmitigated Disaster’ appeared first on Peak Prosperity.
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