A lonely road (Merle2)
Scott just needed to get to her job interview, but she was finding around her the obstacles that have shaped this region’s increasingly pervasive and isolating form of extreme poverty. In the metropolitan areas of the Deep South, government policies and rising real estate prices have pushed the poor out of urban centers and farther from jobs. Low-income people have, in turn, grown more reliant on public transit networks that are among the weakest of quality in the country. When they search for work, they step into a region where pay tends to be low and unemployment tends to be high. The share of residents in deep poverty — with incomes below $10,045 for a parent and two children — in these Deep South metro areas has grown by 24 percent over the past decade, according to Census Bureau data.
Welcome to Feudalism (Tiffany A.)
Case in point: As part of the omnibus budget bill passed earlier this month with much fanfare about “bipartisan comity,” you lost a crucial right, just like a feudal serf. From now on, if the IRS claims you owe them $50,000 or more, you lose your passport. No judge, no jury, no proof, no due process. They just say so and poof! your freedom to travel is gone.
We created an overview of the balance sheets of the 4 largest central banks in 2015. As seen on the next chart, the U.S. Fed has slightly decreased its balance sheet, as well as the People Bank of China. On the other hand, Europe and Japan have gone wild in 2015.
Gold & Silver or Meth & Madness (GE Christenson)
In low doses Meth can elevate mood and increase alertness and energy. The FDA has approved a variation of Meth for attention deficit disorder and obesity in adults and children. But Meth is heavily used for “recreational” purposes and is both addictive and highly profitable for the producers, whether legal or illegal.
As the price of crude falls for a second year, marking the steepest decline since the recession, the impact is cascading through the finances of states, cities and counties, in ways big and small. Once flush when production boomed, some governments in major energy producing regions are facing a new era of unwelcome austerity as wells are shut — along with the tax-revenue gushers they spouted.
If you’re feeling comforted by the fact that you are, like, way greener than you were in 2008 when the EIA data was collected—which is so long ago it was a pre-Instagram world (eww)—Todd Moss of the Center for Global Development tells NPR you’re probably sucking down as much now as you always have from the power grid.
The alternate view is that oil in the mid-$30 range is a reflection of an economy that has been weakening since the middle of 2014 and foreshadows a worldwide recession which should hit in full force by the end of 2016. In addition, with Iran almost certain to add to the current oversupply as sanctions are lifted and with the continued determination of OPEC to destroy the viability of tight oil deposits in the United States, the oil price could surprise on the downside, even testing $20 per barrel.
By far the worst physical toll was in the suburbs of Dallas, particularly Garland, where more than 600 structures were damaged, and nearby Rowlett, where more than 800 were, according to Judge Clay Jenkins, Dallas County’s chief executive, who said that a few hundred homes are total losses. On Saturday night, he declared a state of disaster. “I don’t declare states of disaster lightly,” he said.
Gold & Silver
Provided daily by the Peak Prosperity Gold & Silver Group
Article suggestions for the Daily Digest can be sent to [email protected]. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the "3 Es."