Auto Market Woes, Ransomware, Precious Metals Forecast – David Morgan

I’ve previously discussed with Paul Mladjenovic at the Auto Market Woes. Rising default levels on cars and leases. Increasing unsold inventories and a slowing of sales.

In David Morgan’s Weekly Perspective he opens with Auto Market Woes. The article he cited calls it carmageddon. Car lots are stuffed with unsold cars, car sales are down.

Stocks sank big time over the Trump mistakes such as the James Comey firing. But that was just the latest in a continuing series of Trump mishaps. A special council has been selected to investigate Trump and Trump campaign ties to Russia. This is an investigation that is not going away. In fact it seems to be getting larger and involve more Trump campaign people and associates every day. It’s not like Trump can claim ignorance, he was warned about the suspicions about Flynn months before he selected him. Reversing an earlier stance in which he offered to testify in exchange for immunity Flynn has he now invoked his right against self incrimination and is refusing to testify.

Ransom-ware is in the news. It’s being blared in all the headlines. It is an important wake up call for all of us to make sure we are secure on the internet. However the article David cites points out that it is important to note that worldwide only $70,000 was paid by victims to redeem their files. In the grand scheme of things $70,000 is a minuscule drop in the bucket compared to other cyber crimes. Just recall all of the losses from data breaches at your favorite credit card company or merchant. Of course a ransom ware payment feels more direct. They make a demand and if you comply you pull the money out of your account. But don’t imagine for a moment that the losses and costs of a data breach at your credit card company, merchant, or bank is not coming out of your pocket. It’s just that the route is less direct and more hidden and circuitous. You pay for it in fees and higher prices when shopping. They just don’t call it a ‘because we lost the money’ fee or surcharge.

Forbes magazine reports the decline in the use of Bitcoin in international transactions.

David cites a report that points out the US government designs and stockpiles ransom ware. The government seeks out and stores vulnerabilities it finds in different programs and online for use in developing future cyber tools. This is not to say that other countries probably not do the same. The US is the only country to use a nuclear bomb. I think the point of the article that David Morgan was citing is that before the US government starts throwing stones it should examine its own record.

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