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    Daily Digest 11/10 – America’s Voters Just Fired Their Ruling Elites, Robots Will Take 850,000 Jobs By 2030

    by DailyDigest

    Thursday, November 10, 2016, 1:04 PM

Economy

David Stockman: “The Jig Is Up: America’s Voters Just Fired Their Ruling Elites” (Adam)

What happened last night—especially in the rust belt precincts where 70,000 factories have already closed and 6 million breadwinner jobs have disappeared—–was nothing less than the third vote on TARP. Whereas the cowardly House GOP had capitulated to Wall Street and their spineless leaders on the second vote in late September 2008, the rank and file voters of Flyover America last night proclaimed loudly that it had not been done with their leave. Not at all.

Here Is What Donald Trump Wants To Do In His First 100 Days (Adam)

On Wednesday, Senate Majority Leader Mitch McConnell mostly made nice with Trump but also shot down or expressed little enthusiasm in some of his plans. On Trump’s proposal to impose term limits on Congress, McConnell said, “It will not be on the agenda in the Senate.” McConnell has been a long-standing opponent of term limits, as NPR’s Susan Davis reports. “I would say we have term limits now — they’re called elections.”

India Abolishes 500 and 1,000 Rupee Notes to Fight Corruption (lambertad)

The step by Modi, who is approaching the half-way mark of his term, is an attempt to fulfill his election promise of curbing tax evasion and recovering illegal income, locally known as black money, stashed overseas. Modi’s unprecedented move follows similar action taken by the European Central Bank, which is discontinuing the use of 500-euro ($575) notes to stop their use in “illicit activities.”

An American In A Strange Land (jdargis)

Instead, I witnessed from the other side the global forces that would bring profound changes to America. I visited industrial regions of southern China where the ground seemed to vibrate under the weight and bustle of all the countless new factories. Once iPhones had been invented, it was Chinese workers who assembled them. I watched Bangladeshi seamstresses stitch clothes sold at Walmart. American consumers benefited from the cheaper goods, but American manufacturers did not. Between January 2000 and December 2014, the United States lost roughly five million manufacturing jobs.

Venezuela, A Failing State (jdargis)

Public health in Venezuela is, in fact, getting rapidly worse. In 1961, Venezuela was the first country declared free of malaria. Now its robust malaria-­prevention program has collapsed, and there are more than a hundred thousand cases of malaria yearly. Other diseases and ailments long vanquished have also returned—malnutrition, diphtheria, plague. The government releases few statistics, but it is estimated that one out of every three patients admitted to a public hospital today dies there. State mental hospitals, lacking both food and medications, have been reduced to putting emaciated, untreated patients out on the streets.

The Rise Of Caesar (James W.)

The combination of another global banking crisis, a constitutional crisis within the United States and the scenes of thousands of Germans queuing to pull their money out of the German banking system was a “perfect storm” that destroyed any remaining confidence in the American banking system. On 1 December, President Obama, in conjunction with President Elect Clinton, announced an emergency package of measures to bail out the American banks.

The Binge Breaker (jdargis)

While some blame our collective tech addiction on personal failings, like weak willpower, Harris points a finger at the software itself. That itch to glance at our phone is a natural reaction to apps and websites engineered to get us scrolling as frequently as possible. The attention economy, which showers profits on companies that seize our focus, has kicked off what Harris calls a “race to the bottom of the brain stem.” “You could say that it’s my responsibility” to exert self-control when it comes to digital usage, he explains, “but that’s not acknowledging that there’s a thousand people on the other side of the screen whose job is to break down whatever responsibility I can maintain.” In short, we’ve lost control of our relationship with technology because technology has become better at controlling us.

Could Trump’s Victory Render OPEC’s Output Deal Irrelevant? (Josh O.)

OPEC also has another major Trump-related factor to consider in its efforts to reach a deal: the president-elect’s promise to open onshore and offshore leasing on federal lands, eliminate moratorium on coal leasing, and open shale energy deposits. If Trump stays true to his plans and the U.S. were to really boost its oil production, any OPEC deals may become irrelevant and will put further pressure on OPEC economies whose heavily-oil-dependent budgets are strained even now with the persisting low crude oil prices.

Experts State Robots Will Take Over Additional 850,000 Jobs By 2030 (Arthur Robey)

A study conducted by Oxford University and Deloitte, a business advisory firm, found that 850,000 public sector jobs in the UK are at risk of being lost by 2030 due to automation. The report also mentions how more than 1.3 million administrative jobs in the public sector have a 77% probability of being automated. These jobs include highly repetitive jobs like clerical work and transportation work.

AI Will Colonize the Galaxy by the 2050s, According to the “Father of Deep Learning” (Arthur Robey)

Schmidhuber believes AI will play a crucial role in the way we will gather resources, most abundantly found in space. Orbital robot factories will be (un)manned by AI, capable of self-replication and space exploration. These AI will be scientists, he says, and in a few million years, will naturally explore the galaxy out of curiosity, setting their own goals. “Humans are not going to play a big role there, but that’s ok,” says Schmidhuber.

Pollution near equator has biggest impact on global ozone levels, study finds (tom lampman)

“We wanted to ask the question how much of that change that’s happened over the last three decades is due to the change in location of emissions versus the increase in total emissions globally,” Jason West, who led the research at the University of North Carolina-Chapel Hill, told CBC News. “So we separated out those two factors and we found that change in location was by far the most important.”

Gold & Silver

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