Economy
Forget Stocks – Money Market Is Signaling Possible Troubles Ahead (Thomas R.)
When unexpected things happen there, those perpetual worrywarts do not think “opportunity” first, but instead check out the exits. In this case, that undesirable bump was the repo market being unable to function within the Fed’s desired interest rate range.
Fed Bank Of NY: Statement Regarding Repurchase Operations (Sparky1)
The Desk will offer three 14-day term repo operations for an aggregate amount of at least $30 billion each, as indicated in the schedule below. The Desk also will offer daily overnight repo operations for an aggregate amount of at least $75 billion each, until Thursday, October 10, 2019. Awarded amounts may be less than the amount offered, depending on the total quantity of eligible propositions submitted. Securities eligible as collateral include Treasury, agency debt, and agency mortgage-backed securities. Additional details about the operations will be released each afternoon for the following day’s operation(s).
In Venezuela’s oil capital, life is a struggle. So is death. (Sparky1)
An economic free fall more severe than the Great Depression has crippled this onetime oil boomtown, and those who have stayed are bracing for worse under increasingly tough U.S. sanctions. Venezuela’s second-largest city — and its industrial engine — is now the epicenter of the socialist nation’s societal meltdown.
The collapse of civilization here is perhaps most evident at death.
Thomas Cook collapses, leaving thousands of travelers stranded (Sparky1, Thomas R.)
The collapse of the iconic UK company had ripple effects in Asia. Shares in China’s Fosun Tourism dropped by nearly 5% in Hong Kong. The billionaire founder of parent company Fosun International, which owns all-inclusive holiday firm Club Med, is Thomas Cook’s largest shareholder, according to Refinitiv data.
Iran’s foreign minister “not confident” his country and the U.S. can avert war (Thomas R.)
Top U.S. officials like Secretary of State Mike Pompeo have publicly blamed Iran for the oil plant attacks. After days of considering options to respond, Mr. Trump on Friday ordered the deployment of additional troops and missile systems to both the United Arab Emirates and Saudi Arabia.
Donald Trump’s New UAE Ambassador is a Republican Megadonor With No Diplomatic Experience (Sparky1)
Rick Olson, ambassador to the UAE from 2008 to 2011, told Shareblue Media that all who have filled the role “without exception have been career foreign service officers, most of whom have had extensive experience in the Arab world.” Past presidents have nominated their supporters for ambassador positions, but typically for roles less complex than the Middle East.
U.S. to deploy military forces to Saudi Arabia, UAE after drone attacks on oil sites (Thomas R.)
Answering reporters’ questions about the deployment, Gen. Joseph F. Dunford Jr., chairman of the Joint Chiefs of Staff, described the troop deployment as “modest” and “not thousands.”
Dunford said he planned to confer with U.S. Central Command and Saudi officials to work out details of the deployment, which he said would be announced next week.
U.S. Army Prepares for Large-Scale Global Combat as New Chief of Staff Takes Command (Sparky1)
In other words, he wants troops stationed in Europe or other fronts already, instead of having to fly them across the Atlantic Ocean or other vast seas at moment’s notice and in a time of need. Whereas it’s nice to have troops at the ready stateside, it helps the Army’s mission to have forces ready closer to any potential conflicts.
Pompeo says Saudi oil plant attack was “state-on-state act of war” by Iran (Thomas R.)
The decades-long strained relationship between Tehran and Washington has worsened under President Trump, who last year withdrew the U.S. from the landmark 2015 nuclear accord. But tensions have escalated even more in recent days after the U.S. blamed Iran for a series of early morning attacks on oil processing facilities in eastern Saudi Arabia that rattled global energy markets.
Russia savages US following Saudi Arabia oil reserve crisis – ‘Can’t repel attack’ (Thomas R.)
Following that bold attack, Russian Foreign Ministry spokeswoman, Maria Zakharova ridiculed Washington over its missile systems which failed to protect the oil sites.
Ms Zakharova boasted that the “brilliant US air defense systems could not repel an attack”.
This Company Built a Private Surveillance Network. We Tracked Someone With It (Thomas R.)
The results popped up: dozens of sightings, spanning years. The system could see photos of the car parked outside the owner’s house; the car in another state as its driver went to visit family; and the car parked in other spots in the owner’s city. Each was tagged with the time and GPS coordinates of the car. Some showed the car’s location as recently as a few weeks before. In addition to photos of the vehicle itself, the tool displayed the car’s accurate location on an easy to understand, Google Maps-style interface.
Democracy Doomed the Money System (thc0655)
Democracy is a scam. The plain people vote. But insiders – the elite, the cronies, the Deep State – make the important decisions. And these few can increase their own wealth and power only by taking it from the many they are meant to serve – the public.
And when they are in the “Inflate-or-Die” trap, rarely are they willing or able to risk easing off from inflation.
Oil Markets Are One Outage Away From Crisis (Thomas R.)
But Aramco vowed to make repairs and bring Abqaiq processing back to pre-attack levels by the end of September, which, at this point, is less than two weeks away. If repairs take longer, then there will be increased scrutiny on Saudi inventories, and any interruptions to buyers would have global impacts. “They probably have about one month of inventories,” Amrita Sen of Energy Aspects told Bloomberg.
Amazon Makes The Largest Ever Electric Vehicle Purchase (Thomas R.)
Amazon expects that electrified transportation will eventually become sizable with government emissions mandates increasing. It also makes sense for Amazon to consider integrating EVs and its autonomous vehicles – which experts predict will become an inevitable fusion for best serving urban markets and meeting mandates.
How to Make Tech Companies Actually Fight Climate Change (tmn)
On Thursday, Amazon CEO Jeff Bezos announced several ways that his company will try to be a better environmental citizen. He pledged that Amazon would meet the goals of the Paris climate agreement 10 years early, going completely carbon neutral by 2040. To do that, it will try to change the way it ferries boxes to every home in America, deploying a fleet of 100,000 electric vans by 2024. “We’ve been in the middle of the herd on this issue,” Bezos said at an event at the National Press Club in D.C., “and we want to move to the forefront.” (Let’s assume that since the topic was greenhouse gas emissions, the cattle metaphor was unintentional.)
Climate Amenities, Climate Change, and American Quality of Life (newsbuoy)
Valuing climate amenities not only helps us to understand how climate affects welfare and where people live but also helps to inform policy responses to climate change.
Global climate change threatens to alter local climates, most obviously by raising temperatures. A priori, the welfare impacts of higher temperatures are ambiguous: households may suffer from hotter summers but benefit from milder winters. Ultimately, these impacts depend on where households are located, the changes in climate amenities they experience, and how much they value these changes.
Trump will hold session on religious persecution instead of attending UN climate summit (Sparky1)
“I think what we’re really looking at is the importance of some of these particular bilateral relationships. The President has talked with a number of these leaders and he continues to believe that this kind of personal diplomacy is his strength,” one official said, suggesting Trump wasn’t interested in participating in the group setting.
Teens are pledging not to have kids until leaders take action on climate change (Thomas R.)
Canadian teen Emma Lim told CBS News she made the decision a few months ago not to have children in the future due to the climate crisis. “Because even though I want to have children more than almost anything, what kind of a mother would I be if I brought a baby into a world where I couldn’t make sure they were safe?” she wrote on her website.
They billed the event as the largest gathering focused on climate change since 2009, when tens of thousands gathered in Copenhagen in a sometime raucous demonstration that resulted in the detention of 2,000 protesters.
In this year’s march, protesters carried pictures of sunflowers and, at the rally’s head, a banner reading: ‘Front lines of crisis, forefront of climate change’.
These will be the best places to live in America in 2100 A.D. (newsbuoy)
Season after season, extreme weather bombards the continental United States. Over the next 83 years, its cascading effects will force U.S. residents inward, upward, and away from newly uninhabitable areas. But don’t worry: We’ve mapped out how these factors will alter the country’s landscape in 2100. Now go nail a quality spot while the pickings are still slightly more plentiful.
Here’s The Best Place To Move If You’re Worried About Climate Change (newsbuoy)
Turns out, finding a place in the U.S. that is benefiting from climate change is both easy and hard, researchers say. It’s not difficult to find the places at the lowest risk of experiencing the biggest hazards. Popular Science has mapped it using data from a variety of scientific research papers and risk assessment reports. Economists have mapped it based on projected changes in various quality of life indexes. Nonprofits are working on projects that will map it based on flooding risks.
Revealed: 90 Percent of Plastic Waste Comes from Asia and Africa (thc0655)
“The 10 top-ranked rivers transport 88-95 percent of the global load into the sea,” Dr. Christian Schmidt, a hydrogeologist who headed up the study, told the Daily Mail after the research was published in 2017. “The rivers with the highest estimated plastic loads are characterized by high population – for instance the Yangtze with over half a billion people.”
Greenland’s disappearing ice sheet worries scientists: “One degree is everything” (Thomas R.)
CBS News’ Seth Doane flew out to Helheim Glacier, which holds enough frozen water to fill the entire state of Pennsylvania a foot deep, to meet some of the scientists on the front lines of climate change. Among them is NYU’s David Holland and his wife Denise, who manages logistics.
“People say ‘follow the money.’ Well this is a story really of ‘follow the warm water.’ Water melts ice quicker than air so the ocean can melt this ice sheet much faster than the air,” David explained.
Gold & Silver
Click to read the PM Daily Market Commentary: 9/20/19
Provided daily by the Peak Prosperity Gold & Silver Group
Article suggestions for the Daily Digest can be sent to dd@peakprosperity.com. 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."
The post Daily Digest 9/23 – Oil Markets ‘One Outage Away From Crisis,’ The Best Places To Live In 2100 AD appeared first on Peak Prosperity.
from Peak Prosperity https://ift.tt/2m6kRq6
