• Daily Digest

    Daily Digest 12/9 – The Shock and Awe Era for Central Banks Is Over, A-Z Of Climate Anxiety

    by Daily Digest

    Monday, December 9, 2019, 8:13 AM


Economy

The Shock and Awe Era for Central Banks Is Over (Adam)

Back in 2009, 10-year bond yields — a proxy gauge for estimates of monetary settings — tipped a big rebound for major economies. Instead, yields in Europe and Japan that were expected to surge have gone negative, U.S. yields are about 350 basis points lower than markets had bet and China’s about 130 points lower.

An American trucking giant is slated to declare bankruptcy — and it may leave more than 3,200 truck drivers stranded and jobless (Sparky1)

However, the source of Celadon’s troubles dates back further than 2019. On Dec. 5, the Securities and Exchange Commission charged two former Celadon executives following a multi-year accounting scandal. The alleged fraud resulted in shareholder loss of more than $60 million.

Last Tax Season Was a Mess. Now’s Time to Prepare for This One. (jdargis)

But it didn’t feel that way for some taxpayers. The number of refunds issued hardly budged — they were down 0.3 percent — but refunds for many were smaller. Refunds for those who earned between $100,000 and $250,000, for example, dropped by about 11 percent, according to the I.R.S.

Top US officials knew the Afghanistan war was unwinnable and ‘lied’ — costing $1 trillion and 2,351 American lives (Sparky1)

Over the past 18 years of war, US officials have repeatedly insisted that the US is making progress in Afghanistan, but over 2,000 pages of notes from interviews with more than 400 people who had a direct role in the war in Afghanistan have revealed the truth about the conflict — that data was altered and facts were twisted to present a positive picture when the reality in country was far from it, The Post reports.

North Korea Turns Up Pressure on the United States for Concessions (TS)

It has been obvious for months that the groundbreaking diplomacy between Mr. Kim and President Trump has stalled. Just hours before the test was announced Sunday, the North’s ambassador to the United Nations said that denuclearization was off the negotiating table — the key element of discussions between the two presidents over the course of three meetings.

Ralph Nader: Failure by Congress to prevent devastating precedents from being invoked by future presidents will create a legacy of disgrace (newsbuoy)

Another impeachment article should deal with Trump’s corruption in appointing henchmen to head health, safety and economic protection agencies with the objective of dismantling and disabling the laws enacted by Congress. Trump is bad for you when you breathe the air, drink the water, eat chicken, beef, pork, vegetables and fruit or work in hazardous places. Children are being exposed to dangerous pesticides, borrowers are being ripped off by financial companies and students are snagged by student loan traps and for-profit colleges. Trump sides with corporate criminals and fraudsters, and he expands crony capitalism with corporate welfare with your tax dollars. This is no mere de-regulation here and there. This is wholesale removal of the federal cops from the corporate crime beat and leaving you defenseless. Openly rejecting his constitutional duty to “faithfully” execute the laws is a major impeachable offense.

Oceania, Eurasia and Eastasia Merger: Global Empire of Dystopia? (newsbuoy)

From one manufactured crisis to another, always in what my esteemed colleague Dady Chery calls “other people’s countries,” the mad circus goes on and on like a merry-go-round. And it works, so long as the big lies are salted with a little truth for seasoning. As world citizens, we are tasked with dismantling this monstrous global Orwellian Empire of many faces that is tightening its grip everywhere.

Portland considers “mandatory rest spaces” for the homeless on private property (thc0655)

While I’m sure there are many good-hearted people out there who would like to help the homeless as much as possible, this seems outlandish. If you’re making the investment to construct a new home or business in Portland, you really don’t want to open up on day one with an invitation for a homeless encampment to show up immediately. That entails costly clean-up tasks on a regular basis and the risk of increased crime, literally right on your doorstep.

Don’t Let China Win the Green Race (jdargis)

High-speed rail also is integral to China’s strategy. It has the largest high-speed railway in the world, with 19,000 miles of track and most major cities connected by the network. The United States has less than 500 miles. Our fastest train takes 19 to 22 hours from New York to Chicago, whereas the same distance in China takes four-and-a-half hours.

JPMorgan Economists Warn of Black Swan Risks From Climate Change (newsbuoy)

“There are plenty of non-linear tipping points in the climate system that could make the economic consequences of BAU much more severe,” David Mackie and Jessica Murray, economists at the bank in London, wrote in a note to clients Thursday. BAU stands for business-as-usual. “It is hard to know what weather outcomes will occur. Econometric estimates are based on small deviations in the mean of the probability distribution.”

A-Z of climate anxiety: how to avoid meltdown (ZWW)

If you have outside space, follow gardener and author Kate Bradbury’s advice and plant native. “Native plants have specific relationships with native moths, which lay their eggs on the leaves,” she says. “Birds then feed the caterpillars to their young, and hedgehogs, frogs, mice, wasps… pretty much everything eats caterpillars. So by planting native shrubs and trees you’re creating a food chain in your garden and, literally, preventing further decline of species.”

Avoid peat-based compost: peat stores vast amounts of carbon and peat bogs are precious habitats for wildlife.

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  • Mon, Dec 09, 2019 - 1:13pm

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    RIP P. Volcker: Big adjustments will inevitably come

    ...In a 2005 speech, Mr. Volcker, who had long taken a dim view of the debt-fueled expansion of the American economy, warned of a looming financial crisis. “Baby boomers have been spending like there is no tomorrow,” he told an audience at Stanford University. “Big adjustments will inevitably come.”...

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