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Daily Digest 8/22 – 22 TX Towns Hit With Ransomware Attack, What Happens In A Recession?

Summary:
Economy Italy’s Government Collapses, Turning Chaos Into Crisis (Sparky1) Mr. Salvini may yet get his wish. But for now there remains the chance that his lengthening list of political enemies could form a new coalition government that freezes him out of power. At least immediately, things haven’t gone as Mr. Salvini had planned. What Happens In A Recession? (tmn) This column is not in the business of forecasting recessions, based on inverted yield curves or any other form of augury. But when enough credentialed auguries suddenly think one might be possible, it seems prudent to speculate about the consequences if they turn out to be correct. So let’s imagine what might follow if, sometime this winter, our post-2008 economic expansion finally ends. Mortgage Market Reopens to Risky

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Daily Digest 8/22 – 22 TX Towns Hit With Ransomware Attack, What Happens In A Recession?

Economy

Italy’s Government Collapses, Turning Chaos Into Crisis (Sparky1)

Mr. Salvini may yet get his wish. But for now there remains the chance that his lengthening list of political enemies could form a new coalition government that freezes him out of power. At least immediately, things haven’t gone as Mr. Salvini had planned.

What Happens In A Recession? (tmn)

This column is not in the business of forecasting recessions, based on inverted yield curves or any other form of augury. But when enough credentialed auguries suddenly think one might be possible, it seems prudent to speculate about the consequences if they turn out to be correct. So let’s imagine what might follow if, sometime this winter, our post-2008 economic expansion finally ends.

Mortgage Market Reopens to Risky Borrowers (Adam)

More than a decade after home loans triggered the worst financial crisis in a generation, the strict lending requirements put in place during its aftermath are starting to erode. Home buyers with low credit scores or high debt levels as well as those lacking traditional employment are finding it easier to get credit.

22 Texas Towns Hit With Ransomware Attack In ‘New Front’ Of Cyberassault (Thomas R.)

Two cities so far have come forward to say their computer systems were affected. Officials in Borger in the Texas Panhandle, said the attack has affected city business and financial operations. Birth and death certificates are not available online, and the city can’t accept utility payments from any of its 13,25o residents. “Responders have not yet established a time-frame for when full, normal operations will be restored,” city officials said.

‘I am the Chosen One,’ Trump proclaims as he defends trade war with China (Sparky1)

“I was put here by people,” the president said. “I was put here by people to do a great job. And that’s what I’m doing.”

Earlier Wednesday, Trump retweeted a right-wing pundit’s flattering, messiah-flavored comments about the president’s support in Israel.

You Can Finally See All Of The Info Facebook Collected About You From Other Websites (Thomas R.)

Facebook collects information about its users in two ways: first, through the information you input into its website and apps, and second, by tracking which websites you visit while you’re not on Facebook. That’s why, after you visit a clothing retailer’s website, you’ll likely see an ad for it in your Facebook News Feed or Instagram feed. Basically, Facebook monitors where you go, all across the internet, and uses your digital footprints to target you with ads. But Facebook users have never been able to view this external data Facebook collected about them, until now.

The dog is one of the world’s most destructive mammals. Brazil proves it. (Thomas R.)

It’s a question more researchers are beginning to ask in a country where there are more dogs than children — and where dogs are quickly becoming the most destructive predator. They’re invading nature preserves and national parks. They’re forming packs, some 15 dogs strong, and are hunting wild prey. They’ve muscled out native predators such as foxes and big cats in nature preserves, outnumbering pumas 25 to 1 and ocelots 85 to 1.

Mother dies of Ebola in Congo’s South Kivu province, baby under care (Sparky1)

The mother and her child are the first cases to have been detected in the province, increasing fears of the disease spreading throughout the country. Health officials are tracking and vaccinating those who came into contact with the patients.

Florida officials are investigating why panthers are seen stumbling and falling down (Sparky1)

Florida panthers and bobcats are the only two wild cat species found in the state. There are only 120 to 230 adult panthers in the population, and they are listed on the Endangered Species Act. Determining the cause of the disorder can help officials minimize the impact it will have on the panther’s population.

Buy Physical Gold ‘At Any Level’ Says Mobius As It Will Go ‘Up, Up And Up’ (Cornelius999)

Accumulating bullion will reap long-term rewards as leading central banks loosen monetary policy even more and print currency “like crazy”

Texas shale towns grapple with growth as oil-bust fears fade (Thomas R.)

That hesitance is fading fast as oil majors make ever-larger and longer-term commitments to drill in the Permian Basin and residents grow weary of traffic jams on once-rural roads, long waits for medical appointments, pricey housing and overcrowded schools. Local governments, industry and foundations are joining forces to tackle the region’s overwhelmed infrastructure and public services.

How Much Crude Oil Has The World Really Consumed? (Thomas R.)

But that’s just the current daily average based on EIA data from 2016. Today, estimates are that we are chewing through 100 million barrels per day or more. But that hasn’t always been the case.

According to BP’s Statistical Review of World Energy, consumption has been on a steep uphill trajectory for decades, starting at about 40 million barrels per day consumed in 1969.

Shale Bleeds Cash Despite Best Quarter In Years (Thomas R.)

“Last quarter’s cash performance—just a hair over breaking even—would count as a bitter disappointment in virtually any other sector of the economy,” the report stated. “But for an industry that has posted negative cash flows for a decade, these mediocre results represent a financial high-water mark.”

The Global Food Supply is Delicate. Climate Change Is Making Things Worse. (blackeagle)

Despite the progress in output, however, climate change has already begun to weaken what’s known as “food security,” or the availability of food and one’s access to it. The report, complied by over 100 scientists from 52 countries, points to prior studies that have analyzed both industrial and individual farming and found declines in crop production “related to rising temperatures and changes in precipitation.”

Smoke from Amazon wildfires plunges Sao Paulo into darkness in middle of day (Sparky1, Thomas R.)

The World Meteorological Organization said Tuesday on Twitter that atmospheric monitoring data shows smoke from fires across the Amazonian region has caused smoke to reach the Atlantic coast, including Sao Paulo.

Many took to Twitter on Monday to post photos and videos of the darkened skies over the city.

New plastic pollution formed by fire looks like rocks (tmn)

This is pyroplastic—a newly described form of plastic pollution that was transformed by fire. Even geologists are often confounded by its appearance. To Andrew Turner, an environmental scientist at the University of Plymouth who described the substance in a recent paper in Science of the Total Environment, that suggests pyroplastics may be hiding in plain sight all over the world.

Gold & Silver

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