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    Daily Digest 11/10 – A Crisis Without End, The GDP ‘Optimism Bias’

    by DailyDigest

    Tuesday, November 10, 2015, 4:19 PM


A Crisis Without End (jdargis)

One is an increasing resort to “self-help” solutions. In all these cases, as the crisis deepened and the central institutions became paralysed, power informally shifted from the union to the national level as individual members sought their own, unilateral solutions. In both the USSR and Yugoslavia, the federal republics began to assert control over economic policy, in violation of union law, and refused to “export” essential goods (such as food) or surrender tax revenues that were needed at home.

“When I Picture My Future, I See Nothing” (jdargis)

Mohammed, who would now be in third grade, misses going to school. “I was one of the best in my class, and I really liked learning how to read. But now we don’t even have any books or anything that I can use to study on my own.” He works eleven-hour daily shifts at a garment workshop where he earns 50 Turkish lira (approximately US$18) per week.

Our Government Is Out of Control (Tiffany B.)

Writers of tax-related documents tend to fall into the latter category. For example, the CCH Standard Federal Tax Reporter, the annotated form of the U.S. tax code used by lawyers, is over 75,000 pages long. It grows by more than 10,000 pages a decade.

Exclusive: Investigators ’90 percent sure’ bomb downed Russian plane (richcabot)

Confirmation that militants brought down the airliner could have a devastating impact on Egypt’s lucrative tourist industry, which has suffered from years of political turmoil and was hit last week when Russia, Turkey and several European countries suspended flights to Sharm al-Sheikh and other destinations.

It could also mark a new strategy by the hardline Islamic State group which holds large parts of Syria and Iraq.

Watchdogs struggle to explain “optimism bias” in rosy GDP forecasts (richcabot)

Twenty-eight out of the 30 initial calendar year forecasts by the IMF and World Bank for global, developed market and emerging market GDP growth for 2011-2015 proved too optimistic, in many cases wildly so.

Only three states score higher than D+ in State Integrity Investigation; 11 flunk (jdargis)

Take the Missouri lawmaker who introduced a bill this year — which passed despite a veto by the governor — to prohibit cities from banning plastic bags at grocery stores. The state representative cited concern for shoppers, but he also happens to be state director of the Missouri Grocers Association, and is just one of several lawmakers in the state who pushed bills that synced with their private interests.

Spain’s News Media Are Squeezed by Government and Debt (jdargis)

Many in the industry say the formidable combination of government and financial pressures has blunted their ability to cover any range of conflicts of interest among big business and politicians at a time of multiplying financial and political scandals that emerged after the onset of Spain’s debt crisis.

Fusion Energy Facing A Major Test This Month (Tom K.)

The problem with fusion power has always been that in order to get the approach to work, superheated gases with a temperature of roughly 100 million degrees Celsius have to be harnessed to generate the needed atomic behavior. At that heat, electrons are ripped away from atoms which leaves a plasma “slurry” of electrons and ions. This also makes the ions travel fast enough to overcome their mutual repulsion and fuse resulting in fusion power. But gas heated to this level – several times the heat of the sun – is also impossible to contain in a normal vessel made of any matter known to man. Instead, the only way to hold these gases is in a magnetic cage.

Gold & Silver

Click to read the PM Daily Market Commentary: 11/9/15

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  • Tue, Nov 10, 2015 - 4:37pm



    Status Gold Member (Offline)

    Joined: Jan 01 2010

    Posts: 821

    Re: Fusion Energy Facing A Major Test This Month

    So far Fusion Research has been a way to grab taxpayer dollars (wine and dine).  How many posts here at PP have been on this topic trumpeting an advance over the last 5 years?   Where are the advances?   I doubt this German fusion reactor will work as computer models always get surprised by Nature.

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  • Tue, Nov 10, 2015 - 10:13pm



    Status Gold Member (Offline)

    Joined: Apr 13 2008

    Posts: 1085

    Funny, I knew this was about the TPP even before reading...

    From Bloomberg, "A Trade Deal for Working Families" by Barack Obama

    As president, my top priority is to grow our economy and strengthen the middle class. When I took office, America was in the middle of the worst recession since the Great Depression — but thanks to the hard work and resilience of the American people, our businesses have created 13.5 million jobs over the past 68 months, the longest streak of private-sector job creation in history. The unemployment rate has been cut nearly in half — lower than it’s been in more than seven years. We have come back further and faster from recession than nearly every other advanced nation on Earth. 

    That’s real progress. But as any middle-class family will tell you, we have more to do. That’s why I believe the Trans-Pacific Partnership is so important. It’s a trade deal that helps working families get ahead.

    P.S. Wait at least 1/2 hour after eating before reading…

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  • Tue, Nov 10, 2015 - 11:48pm



    Status Silver Member (Offline)

    Joined: Jul 30 2009

    Posts: 2932

    Americans are piling on record debt

    Americans are piling on record debt

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    Future tab for retiree health care balloons

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    During the Legislature's last session, retired state and school employees … retiree health benefits have a larger funding gap — more than twice as big when the …


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  • Wed, Nov 11, 2015 - 5:17am


    Arthur Robey

    Status Platinum Member (Offline)

    Joined: Feb 03 2010

    Posts: 1814

    A woman's point of view ( The other 50%)

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