Daily Digest 12/4 – U.S. Stock Market ‘Will Get Crushed’ In Next Recession, Is Holiday Overeating Slowly Killing Us?

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Economy

Is holiday overeating slowly killing us? (Saxplayer00o1)

The overeating and overdrinking that typically takes place between the middle of November and New Year is a prime driver of the obesity epidemic that now kills more Americans than smoking, according to this scientific survey published in the British Medical Journal

Column: Twitter exchange with Cook County assessor sums up outrage and exodus: Tax hikes are paying for debt, not services. (Saxplayer00o1)

Acquiring debt is too cavalier a process in most government spending bills. The state’s $45 billion capital spending plan, approved last spring, includes money toward a highway interchange for a Peotone airport, pickleball courts, dog parks and bike paths. Meanwhile the state is sitting on a pile of $5.8 billion in bills it cannot pay, and its combined unfunded pension liability climbed recently to $137 billion.

Global Bank Job Cull Exceeds 70,000 in 2019 With UniCredit Cuts (Saxplayer00o1)

UniCredit SpA’s plan to eliminate 8,000 jobs is pushing cuts announced by banks this year past 73,000, almost all of them in Europe, where negative interest rates and a slowing economy force lenders to slash costs.

Japan Preparing $120 Billion Stimulus Package to Bolster Fragile Economy (Saxplayer00o1)

Such spending could strain Japan’s coffers – the industrial world’s heaviest public debt burden, which tops more than twice the size of its $5 trillion economy.

Pimco Joins Chorus of Negative Rate Detractors as Backlash Grows (Saxplayer00o1)

In an attempt to boost their returns, investors are chasing riskier assets which might prove to be harder to sell. That’s a particular worry for pension funds, which are often required by law to guarantee a certain level of payments to retirees. Pimco warned of instability and potential capital injections if they fail to deliver.

Jeffrey Gundlach: The US stock market ‘will get crushed’ in the next recession (Adam)

For several reasons, Gundlach warned that pattern isn’t likely to last forever. He added that investors should consider a pattern he highlights in his “chart of the year,” which divides the world into four regions — the United States, Japan, Europe, and Emerging Markets — and looks at the major stock market indices.

They Saved the Worst for Last: Why Trump’s Impending December Tariffs on China Should Be Rolled Back (edelinski)

No serious deal is in sight on the complaints that initially fueled the trade war, especially China’s violations of American intellectual property rights. But the December tariff round would largely hit products designed and marketed by multinational firms, mostly with components from the United States and its allies, and assembled in non-Chinese-owned factories.

Wind turbines are neither clean nor green and they provide zero global energy (Boomer41)

Here’s a quiz; no conferring. To the nearest whole number, what percentage of the world’s energy consumption was supplied by wind power in 2014, the last year for which there are reliable figures? Was it 20 per cent, 10 per cent or 5 per cent? None of the above: it was 0 per cent. That is to say, to the nearest whole number, there is still no wind power on Earth.

Russia Ignores OPEC Commitment Two Weeks Before Landmark Meeting (Michael S.)

Russia’s non-compliance extending into November could further complicate talks next week. Russia is the key ally of OPEC and its de facto leader Saudi Arabia in the pact, but it has been regularly exceeding its cap. The Saudis, for their part, are going the extra mile by cutting 400,000 bpd more than they are expected to.

Anthracnose alert: How bacteria prime fifth-biggest global grain crop against deadly fungus (newsbuoy)

But once the fungus has truly invaded its host, it switches from unwanted parasite to wholesale destroyer. As if a switch has been flicked, it starts demolishing the structural supports and cells of the plant. This way the fungus feeds its ravenous appetite and gets ready to procreate.

Gold & Silver

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