Daily Digest 9/3 – Stocks Fall On Trade War Jitters, How The Prison Economy Works

Economy

Dow slides 300 points after new US-China trade tariffs take effect (Thomas R.)

It’s “every country for themselves. The month of September begins with global uncertainty perhaps at its recent highs,” said Gregory Faranello, head of U.S. rates at AmeriVet Securities. “September will very likely set the tone for the remainder of this year and perhaps then some.”

Stocks fall on trade war jitters, pound slides on Brexit (Sparky1)

ENERGY: Benchmark U.S. crude lost $1 cents to $54.10 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell $1.61 on Monday to close at $55.10. Brent crude, used to price international oils, retreated 86 cent to $57.80 per barrel in London. It sank 69 cents the previous session to $58.66.

The World’s Factories Are Stalling as Tariff Pain Spreads (Thomas R.)

The new levies are “a turning point in the trade war” with the U.S., according to an editorial in the Communist Party’s tabloid Global Times. The report said the tariffs on daily goods are to hit U.S. consumers directly, and it also showed Washington is almost at the end of its wits.

Dubai to curb pace of construction projects as prices fall (Sparky1)

Dubai’s major developers, like Meraas, Emaar, Damac and Nakheel, have plans for new cities, neighborhoods, malls, skyscrapers and fantastical concepts like floating homes with floor-to-ceiling glass rooms submerged in the waters off the emirate’s coast. The projects represent Dubai’s ambitions to grow as a tourism destination and financial hub.

Sterling falls below $1.20, hitting its lowest level since October 2016 flash crash (Thomas R.)

U.K. lawmakers return from summer recess on Tuesday afternoon, with a cross-party group of lawmakers expected to apply for an emergency debate and seize control of the agenda of the House of Commons, in a first effort to stop a no-deal Brexit.

U.S., France, Britain may be complicit in Yemen war crimes, U.N. report says (Sparky1)

The report accused the anti-Houthi coalition led by Saudi Arabia and the UAE of killing civilians in air strikes and deliberately denying them food in a country facing famine. The Houthis, for their part, have shelled cities, deployed child soldiers and used “siege-like warfare”, it said.

Demoralized, Depressed, Detached & Defiant (thc0655)

But my articles tended to piss off the establishment. It wasn’t long before Google pulled the plug after I wrote a critical article about their Orwellian tactics. Being a capitalist at heart, it was gratifying to earn a few bucks from my writing, but it is like getting punched in the gut when these left-wing goliath social media companies ban you from their ad platforms. Over the next several years at least a half dozen ad companies have abruptly pulled the plug on TBP with no warning and no chance to respond.

Oil prices fall as market eyes trade war, awaits stocks data (Thomas R.)

Output from the Organization of the Petroleum Exporting Countries (OPEC) rose in August for the first month this year as higher supply from Iraq and Nigeria outweighed restraint by top Saudi Arabia and losses caused by U.S. sanctions on Iran.

Huawei says to spend more than $300 million a year in funding for universities (Sparky1)

The Massachusetts Institute of Technology in the United States cut ties with Huawei earlier this year after U.S. authorities started investigating the firm for alleged sanctions violations while Britain’s Oxford University stopped accepting funding from Huawei last year.

Xu said it was only a few institutions which had suspended their ties with the firm and that Huawei would allocate funding to institutions where the company was still welcomed.

Why Is The Federal Govt. Hiring “Ebola Airport Screeners?” (Sparky1)

Although they are no longer taking applications, three weeks ago Caduceus Healthcare posted the following ad seeking “entry-level” employees for Dulles International Airport, just outside of Washington, DC.

N. Korean universities open new majors focusing on science tech (Sparky1)

The newspaper also said preparations are underway to open 11 new high schools specialized in information technology in each province, as well as to designate one middle school in every city and county to focus on technology education.

US and Poland sign agreement to cooperate on 5G technology (Sparky1)

The U.S. has been lobbying allies to ban Huawei from 5G networks over concerns the Chinese government could force the company to give it access to data for cyberespionage. Huawei has denied the allegation and states in Europe — where countries are gearing up to deploy the new networks, starting with the auction of radio frequencies this year — have balked at U.S. calls for an outright ban.

Southwest Bust (Sparky1)

A previous International Narcotics Interdiction Association’s Agent/Officer of the Year, Special Agent Perry with the Drug Enforcement Administration is behind as many as 1,600 criminal cases against drug couriers, according to court documents touting his credibility as a star government witness. His secret weapons are a train and bus depot in his district that seem to attract an inordinate amount of drug trafficking, and a capacious interpretation of the Constitution’s tolerance for stops and searches.

From pecan pralines to ‘dots’ as currency: how the prison economy works (tmn)

Time works differently in Louisiana prisons in part because the state’s sentences have, historically, been so long. Reforms since 2017 have begun to make some sentencing guidelines more lenient, but for decades everyone convicted of murder in the state got a mandatory life sentence, as did any accomplices or friends who were at the scene. Even nonviolent crimes have often led to huge sentences in Louisiana. Mandatory sentences for repeat offenders often doubled with each conviction. There was also, until recently, another rule that meant a fourth offence could have a mandatory minimum of 20 years and a maximum of life in jail. I met one ex-Angola resident, Louis, who spent 20 years in Angola on a drug charge. He explained his case isn’t the worst: Timothy Jackson, a man caught stealing a jacket from a shop more than 20 years ago, is set to spend the rest of his life in Angola. The average sentence in Angola is almost 90 years.

Tuesday travel trouble: 1,600+ flight cancellations as Hurricane Dorian approaches East Coast (Thomas R.)

Travelers don’t have to be headed to or from Florida to be affected by the travel mess. Cancellations are starting to grow, though they are still relatively insignificant, in two major airline connecting hubs in the region, Atlanta and Charlotte, North Carolina. Atlanta is a hub for Delta Air Lines, and Charlotte for American Airlines.

A look at foreign military bases across the Persian Gulf (Sparky1)

The U.S. Navy’s 5th Fleet, which oversees the region, is based in Bahrain, an island nation off the coast of Saudi Arabia that is home to over 7,000 American troops. Sheikh Isa Air Base on the island also hosts American fighter jets, surveillance aircraft and a U.S. special forces operations center. The U.S. considers the island a “major non-NATO ally.” Britain, meanwhile, has just opened its first military base east of the Suez Canal since 1971 in Bahrain.

How the world of gas pricing in America has changed (Thomas R.)

I wasn’t buying it. And neither was the EIA, which was predicting that gas prices would drop during the summer. Back in April I even wrote a column that started: “Gas prices will decline as we head into summer. Just like last year.”

“And while the drop in prices is good news for drivers, it sucks for Wall Street,” that column continued.

The Best Movie Ever Made About the Truth Behind the Iraq War Is “Official Secrets” (Sparky1)

On a subtler level, the film asks this question: Why didn’t the leak make a true difference? Yes, it contributed to opposition to the U.S. and U.K. on the Security Council, which never voted on another Iraq resolution, because Bush and Blair knew they would lose. Yet Blair was able to shrug this off and obtain a vote by the British Parliament several weeks later endorsing his war.

Cave deposits suggest Earth experienced dramatic sea level rise 4 million years ago (Sparky1)

“Constraining models for sea-level rise due to increased warming critically depends on actual measurements of past sea level,” Victor Polyak, research scientist at the University of New Mexico, said in a news release. “This study provides very robust measurements of sea-level heights during the Pliocene.”

Gold & Silver

Click to read the PM Daily Market Commentary: 8/31/19

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 9/3 – Stocks Fall On Trade War Jitters, How The Prison Economy Works appeared first on Peak Prosperity.

Powered by WPeMatico