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    Daily Digest 1/30 – How Statistics Lost Their Power, Resist The Resistance

    by DailyDigest

    Monday, January 30, 2017, 3:59 PM


How statistics lost their power – and why we should fear what comes next (Aaron M.)

In theory, statistics should help settle arguments. They ought to provide stable reference points that everyone – no matter what their politics – can agree on. Yet in recent years, divergent levels of trust in statistics has become one of the key schisms that have opened up in western liberal democracies. Shortly before the November presidential election, a study in the US discovered that 68% of Trump supporters distrusted the economic data published by the federal government. In the UK, a research project by Cambridge University and YouGov looking at conspiracy theories discovered that 55% of the population believes that the government “is hiding the truth about the number of immigrants living here”.

Resist The Resistance (bobwise32952)

A recent article in The American Conservative proposed an elaborate plan for Trump’s infrastructure spending, including strong support for public transit and intercity rail. Their website covers New Urbanism in depth: walkable neighborhoods, non-branded architecture, local retail, multi-use zoning, etc.

There’s at least one radical reform supported by both Progressives and Conservatives: replacing the Dodd-Frank law with the original Glass-Steagall act. The repeal of Glass-Steagall during the Clinton years paved the way for a host of financial rackets, including peddling mortgages to millions who couldn’t really afford them- and often went on to lose their homes in foreclosure.

Europe’s Coming Campi Flegrei Explosion (James W.)

President Trump, in his inaugural speech, outlined an “American First” manifesto which has horrified the European political class. In it, President Trump articulated a return to neo-isolationism and an end to the certainties of a post-Cold, and indeed, the post WW2 era. Although Prime Minister Theresa May managed to get a grudging confirmation from the president that America is still committed to NATO, it is clearly on the condition that European allies will commit to the minimum 2% defence spending.

Why 2017 Could See the Collapse of the Euro (Cornelius9999)

The hope was that fiscal and monetary discipline would result in convergence, enabling the single-currency system to work even better. Instead, there has been divergence, with the rich countries getting richer and the poor getting poorer, and within countries, the rich getting richer and the poor getting poorer. But it was the very structure of the Eurozone that predictably led to this. The single market, for instance, made it easy for money to leave the banks of the weaker countries, forcing these banks to contract lending, weakening the weak further.

Narcissistic Personality Disorder Comes to Washington (westcoastjan)

My fear is that for the next four years, America will be watching a man experience what the clinical language calls narcissistic injury. I predict the presidency is going to be torture for him. He will be subject to the scathing criticism that all politicians must endure. And we already have seen how agitated he becomes in the face of even mild rebukes or disappointing facts about the crowd size at his inauguration. Imagine how Trump will respond to the inevitable failures, frustrations, and setbacks. (For this reason, the thought of him being just another human being suffering from mental health issues that are out of his control or even awareness causes me to have some degree of compassion for him—as odd as that may sound.) All of the narcissistic injury he endures will cascade to the emotional hostages he has assembled in his orbit.

Donald Trump, Stephen Bannon and the Coming Crisis in American National Life (jdargis)

Trump, Bannon and the rest of the Trump campaign have already managed to destroy the old political order. Trump wiped out a slate of traditional Republican candidates and has won the White House, despite losing the popular vote. Meanwhile, a ceaseless Republican political offensive at various levels of government has given Trump an entrenched majority in the House of Representatives and a small majority in the Senate. Soon the conservatives will have a majority on the Supreme Court.

What will they do? Their rhetoric and personalities, viewed in the context of Strauss and Howe’s theory of crisis, suggest that they will not be bound by existing precedents and that they will rely on their own view of the heroes and villains of our time.

A Wrench In The Recovery? (Tiffany D.)

While oil prices have started to rebound and hold steady above $50, many companies have increased their rig demand. But we still have a far way to go. Baker Hughes reported today that active North American rigs number 1,057 — which is still down 43% from the 1,840 that were active at the close of 2014.

More Evidence Linking Pesticide Exposure to Autism (Dana T.)

The UC-Davis investigators examined public records on commercial pesticide applications and linked this information to the addresses of approximately 1,000 CHARGE families. Most lived in California’s Sacramento Valley, Central Valley or the greater San Francisco Bay area. Nearly a third lived within a mile of a pesticide application site.

6 Reasons Trump’s Agriculture Secretary Pick Is Bad for America (Don R.)

Perdue hails from Georgia, which leads the country in poultry production, most of which comes from factory farms. Although he’s not related to the founders of Perdue Farms, Perdue helped the giant chicken-producing factory farm business expand its Georgia operations by $155 million. That might explain, as Grubstreet points out, why the National Chicken Council, which lobbies on behalf of the poultry industry, can’t wait for Perdue to be confirmed.

Gold & Silver

Click to read the PM Daily Market Commentary: 1/27/17

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  • Mon, Jan 30, 2017 - 11:54am



    Status Silver Member (Offline)

    Joined: Jul 30 2009

    Posts: 2932

    How do you balance a budget when debts are exploding and your po

    Japan’s long road to fiscal health may be getting longer

    Nikkei Asian Review – ‎21 hours ago‎
    … not including interest payments on government debt — by fiscal 2020. But it is still spending more than it takes in taxes, making that target look increasingly unrealistic. Japan is forecast to run a primary deficit of 8.3 trillion yen ($72.2

    Brazil Exempts Military From Pension Shake-Up to Ensure Support

    Bloomberg-4 hours ago
    According to unpublished Treasury data seen by Bloomberg, Brazil’s social security spending on civil servants ran a deficit of 71.8 billion reais ($22.8 billion) …

    STATE OF THE STANDOFF: Pension liabilities increase even as payments made

    Journal Gazette and Times-Courier – ‎12 hours ago‎
    Despite these continued and increasing payments, the unfunded liabilities in the systems also continue to rise, growing from $111 billion in fiscal year 2015 to nearly $130 billion last year, according to the General Assembly’s Commission on Government …

    How do you balance a budget when debts are exploding and your population is fleeing?

    Illinois Policy – ‎15 hours ago‎
    Meanwhile, the unfunded pension liability has grown so large and at such a rapid pace that there is a real risk it will spiral out of control, regardless of what taxpayers contribute. On top of the pension debt are tens of billions in bonded debt

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  • Mon, Jan 30, 2017 - 11:58am



    Status Bronze Member (Offline)

    Joined: Oct 13 2008

    Posts: 295

    Re:ore Evidence Linking Pesticide Exposure to Autism

    The mostly likely culprit is vaccines:
    CDC Whistleblower to Extend MMR Vaccine Fraud
    “CDC whistleblower Dr. William Thompson, a senior scientist at the US Centers for Disease Control and Prevention (CDC), will soon publish a reworking of data from a controversial study first published in 2004.”
    [The above article is about how the Whistleblowers are being forced to revise their statements and work to tow the line.]
    I suspect that the problem stems from poor methods used to make vaccines, which involves injecting live chicken eggs with the virus. The infected bio material is processed into vaccines. Basically a vaccine is sterilize egg goo. There have been numereous reports that vaccines are often contamined with cleaning agents, glass, metal and other foriegn material. All likely cause health problems. Bottom line: Very poor Quality control at vaccine plants!
    No recall for glass found in vaccines
    “Sanofi Pasteur, one the world’s leading vaccine makers, had a potentially serious and costly problem on its hands: Its Monroe County plant discovered tiny pieces of glass in batches of a vaccine intended for babies”
    [I have no doubt a lot of children are getting sick from vaccines.]

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  • Mon, Jan 30, 2017 - 12:07pm



    Status Bronze Member (Offline)

    Joined: Oct 13 2008

    Posts: 295

    Re:Narcissistic Personality Disorder Comes to Washington

    Re: “Narcissistic Personality Disorder Comes to Washington”
    LOL! You can’t get more Narcissitic than Obama, who constantly sites himself in every speech and press conference. Only a Narcist, would be proud of a terrible law named after him: ObamaCare
    Washington is a City built on Narcissim. 

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  • Mon, Jan 30, 2017 - 2:34pm



    Status Platinum Member (Offline)

    Joined: Oct 01 2008

    Posts: 1357

    Name of law

    The name of the law is Affordable Care Act. It was probably dubbed Obamacare by a political opponent.
    But, you can’t possibly think his ego, which all Presidents probably have, is in any way comparable to Trump’ s blatant personality disorder. Just look at his first week in office and some of his appointments (Bannon, Flynn, Pruitt, Sessions, etc) to realize he has some serious psychiatric problems.

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  • Mon, Jan 30, 2017 - 11:19pm

    Reply to #4


    Status Bronze Member (Offline)

    Joined: Aug 20 2011

    Posts: 252

    unaffordable care act

    Doug wrote:

    The name of the law is Affordable Care Act. It was probably dubbed Obamacare by a political opponent.

    it’s more commonly known as obamacare.
    the name “affordable care act” is a lie, a carefully crafted piece of propaganda, there is nothing affordable about it, it was devastating to millions of middle class americans, impoverishing them while lining the pockets of the crony capitalist CEOs of the health care and health insurance industries.

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  • Tue, Jan 31, 2017 - 6:03am


    Bankers Slave

    Status Silver Member (Offline)

    Joined: Jul 26 2012

    Posts: 513

    Age of the robber barons

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