• Daily Digest

    Daily Digest 11/9 – America Facing A Pension Crisis, How Scientists Got Climate Change So Wrong

    by Daily Digest

    Saturday, November 9, 2019, 8:01 AM


China Says Tariffs Will Go, But U.S. Doubts Remain (Thomas R.)

“If the phase-one deal is signed, China and the U.S. should remove the same proportion of tariffs simultaneously based on the content of the deal,” Chinese Commerce Ministry spokesman Gao Feng said at a regular press briefing. “This is what [the two sides] agreed on following careful and constructive negotiations over the past two weeks,” he said.

Carney’s Green Crypto Currency: Precursor to a Financial Meltdown (westcoastjan)

The fact that this highly coordinated push is happening now is not unconnected to the elephant in the room: not only is it a myth that the financial system recovered after the near-meltdown of 2008, but the truth is that the crisis has only become magnitudes worse today, with many signs now pointing to an even bigger blowout that no amount of quantitative easing can solve.

America is facing a pension crisis. Retirees will pay the price if we don’t act now (Sparky1)

The impetus for today’s crisis is the result of a number of factors — from shrinking union membership, to changes in regulatory policies and the stock market losses during the Great Recession. In addition, some employers in multiemployer pension plans have gone bankrupt, forcing the employers that remain to assume financial responsibility for the bankrupt employer’s former workers, or “orphan participants.”

Doug Casey: ‘We’re looking at an actual collapse of Western civilization’ (Herman J.)

Holding back no punches at this year’s New Orleans Investment conference, Doug Casey of Casey Research blasted the Federal Reserve for cutting interest three times in four months.

Georgia in top 20 in the US for most overweight residents, report says (Thomas R.)

Analysts then compared the 50 states and Washington D.C. across 29 key metrics, including number of overweight adults, consumption of sugar and projection of preventable diseases, such as diabetes and heart disease. Those metrics were categorized into three major sections: obesity and overweight prevalence; health consequences; and food and fitness.

Rural Americans are more likely to die from preventable causes, CDC reports (Sparky1)

The rural/urban difference remained about the same for deaths due to stroke but narrowed for unintentional injuries. Researchers said the shrinking gap for preventable injuries didn’t stem from improvements in rural areas. Instead, they attributed it to a spike in urban areas, largely due to the opioid crisis.

Plans for a global Dystopia (thc0655)

Central banks acting in concert could have a new role of coordinating a monetary reset, which as we can deduce from Mark Carney’s speech at Jackson Hole in August is already being discussed. We shall start by looking at the state of current monetary policies, their failure, and the drive to replace them with something else, before addressing the energy question.

Man lost his house over $8.41 in unpaid property taxes (Sparky1)

Rafaeli bought the suburban Detroit house in 2011 for $60,000 and, after the purchase, he underpaid his property tax balance that year, court documents state. Two years later, he tried to pay back the 2011 balance including additional fees. However, he miscalculated the interest that had accrued and his payment was short $8.41.

As electric vehicles age, here’s how the batteries are finding a second life (Sparky1)

With the International Energy Agency forecasting more than 130 million electric vehicles on roadways worldwide by 2030, manufacturers and startups are looking ahead to keep EV batteries from the landfill through second-life use and recycling.

River Of Trash (Sparky1)

The town of El Quetzalito sits at the end of a dirt road that jounces through endless plantation rows of banana and palm trees, just a few miles from Guatemala’s border with Honduras. Just beyond the houses that stand on the bank of the Motagua, the river takes a right turn and dead-ends into the Caribbean in a muddy plume of sediment and debris.

Why frackers are using sewage to collect oil and gas (Sparky1)

But water use by the oil and gas industry in the Permian Basin, an area of West Texas and New Mexico that is at the center of the fracking boom, has shot up from only 1 billion gallons in 2011 to 84 billion gallons last year, according to data from University of Texas senior research scientist Bridget Scanlon.

How Scientists Got Climate Change So Wrong (jdargis)

So far, the costs of underestimation have been enormous. New York City’s subway system did not flood in its first 108 years, but Hurricane Sandy’s 2012 storm surge caused nearly $5 billion in water damage, much of which is still not repaired. In 2017, Hurricane Harvey gave Houston and the surrounding region a $125 billion lesson about the costs of misjudging the potential for floods.

Gold & Silver

Click to read the PM Daily Market Commentary: 11/7/19

Provided daily by the Peak Prosperity Gold & Silver Group

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