Daily Digest 2/13 – Washington Creating Perfect Economic Storm, The Threat of Contagion

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Daily Digest

Image by Fotos GOVBA, Flickr Creative Commons

by Daily Digest

Tuesday, February 13, 2018, 9:34 AM

Economy

Trump’s $4.4T budget would move U.S. deficits sharply higher (Uncletommy)

The president’s budget proposes dramatic cuts to a wide range of domestic agencies from the Departments of Labour and Interior to the Environmental Protection Agency and the National Science Foundation. Unlike last year’s submission, the 2019 Trump plan would cut Medicare by $554 billion over the next 10 years, a six per cent reduction from projected spending, including cuts in Medicare payments going to hospitals and rehabilitation centres.

Washington Is Creating a Perfect Economic Storm (Tiffany D.)

Vice President Dick Cheney famously said that the Reagan presidency proved that “deficits don’t matter.”

But he was talking about politics — voters of the day simply didn’t punish the Republicans for running up deficits.

The Threat of Contagion (thc0655)

When the targeted instrument or fund is driven under, credit losses spread to a wider group of fund counterparts who then fall under suspicion themselves. Soon a market-wide liquidity panic emerges in which, “everybody wants his money back.”

This is exactly what happened during the Russia-Long Term Capital Management (LTCM) crisis in 1998. The month of August 1998 was a liquidity crisis involving broad classes of instruments. But, the month of September was systematically aimed at LTCM.

The Brutal Truth About Violence When the SHTF (thc0655)

Fighting of the armies through the whole period of war brings violence in terms of constant shelling from a distance from different kind of weapons.

For example a few multiple rocket launchers (VBR) could bring in 30 seconds the destruction in an area of 3-4 apartment buildings, and being there in that moment and surviving it gives you a completely new view on life.

Government websites have quietly been running cryptocoin mining scripts (blackeagle)

The issue stems from a piece of software called BrowseAloud, which is embedded on all affected sites. BrowseAloud offers accessiblity services, assisting those with literaracy or visual impairments to access government services and information.

There is no suggestion of wrongdoing by the aforementioned sites, nor TextHelp (the owner of BrowseAloud).

Your Facebook data is creepy as hell (Afridev)

Every time you open Facebook, the time, location, IP address, browser & device have been recorded. If you’re part of the 1.4B people that use Facebook on a daily basis, they have enough data points to determine your everyday life patterns with great accuracy: home and work address, daily commute, wake up & bed time, travel duration & destination, etc.

Mexico’s Natural Gas Dilemma (Michael K.)

Currently with no underground sites, gas storage in Mexico will help even the market out — especially during high-demand times — and smooth bottlenecks that needlessly increase prices. Mexico now utilizes three LNG import terminals for short-term balancing, but this pricier supply is a problem for a nation where 50 percent of the people live below the poverty line. Mexico has been the largest buyer of U.S. LNG due to its dearth of pipelines. As seen during Hurricane Harvey, where officials had to force industrials to curtail operations, Mexico remains vulnerable to supply disruptions north of the border.

Trump’s budget proposal is out, and he really wants to kill ARPA-E (jdargis)

Other programs that the Trump administration wants to kill include the Title XVII Innovative Technology Loan Guarantee Program, which provides loan guarantees for clean energy programs; the Advanced Technology Vehicle Manufacturing Loan Program, which admittedly has not provided a new loan since 2011; and the Tribal Energy Loan Guarantee Program (PDF), which works on “tribal energy sufficiency.” The administration says all those programs can be managed by the private sector.

Gold & Silver

Click to read the PM Daily Market Commentary: 2/21/18

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.”

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