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    Daily Digest 2/2 – Massive Starfish Die-Off Tied To Global Warming, Does Journalism Have a Future?

    by DailyDigest

    Saturday, February 2, 2019, 7:43 AM

Economy

Here is what the stock market’s monster January rally means for February (Thomas R.)

Analysts at Bespoke Investment Group highlighted just how mediocre February can be by demonstrating the lackluster amount of money investors would have made on $100 invested in the S&P 500 during the month over the last half-century.

“Had you only owned the S&P 500 during the month of February over the last 50 years, your $100 would now be worth just $106—for a gain of 6%,” said the analysts in a report.

Michael Hudson: Trump’s Brilliant Strategy to Dismember U.S. Dollar Hegemony (PaulJam)

Calling the U.S. coup being sponsored in Venezuela a defense of democracy reveals the Doublethink underlying U.S. foreign policy. It defines “democracy” to mean supporting U.S. foreign policy, pursuing neoliberal privatization of public infrastructure, dismantling government regulation and following the direction of U.S.-dominated global institutions, from the IMF and World Bank to NATO. For decades, the resulting foreign wars, domestic austerity programs and military interventions have brought more violence, not democracy.

Gannett lays off journalists across the country (edelinski)

At the Indianapolis Star, three journalists were laid off, including well-known columnist Tim Swarens. At the Knoxville (Tennessee) News Sentinel, University of Tennessee women’s basketball reporter Dan Fleser is out after more than 30 years in sports. The Tennessean cut three positions, including high school sports reporter Michael Murphy. Traci Bauer, executive editor of LoHud (New York), was let go.

Does Journalism Have a Future? (jdargis)

The numbers mask an uglier story. In the past half century, and especially in the past two decades, journalism itself—the way news is covered, reported, written, and edited—has changed, including in ways that have made possible the rise of fake news, and not only because of mergers and acquisitions, and corporate ownership, and job losses, and Google Search, and Facebook and BuzzFeed. There’s no shortage of amazing journalists at work, clear-eyed and courageous, broad-minded and brilliant, and no end of fascinating innovation in matters of form, especially in visual storytelling. Still, journalism, as a field, is as addled as an addict, gaunt, wasted, and twitchy, its pockets as empty as its nights are sleepless. It’s faster than it used to be, so fast. It’s also edgier, and needier, and angrier. It wants and it wants and it wants. But what does it need?

The 16th Amendment: How the U.S. Federal Income Tax Became D.C.’s Favorite Political Weapon (Alex)

Could you imagine a time in the U.S. when roads were being paved, there was zero national debt, and the federal government was completely operational – all without income taxes? This may sound like a Libertarian fantasy, but it’s actually an image of the America of yesteryear. Before the advent of the income tax, the U.S. government relied exclusively on tariffs and user fees to finance operations.

Video: Robber Barons and the Albany and Susquehanna Railroad (Don R.)

During the gilded age ruthless businessmen fought for control of railway lines. The Albany and Susquehanna railroad was another battlefield in the “Railroad wars.”

Typhus Epidemic Worsens in Los Angeles (thc0655)

“It felt like somebody was driving railroad stakes through my eyes and out the back of my neck,” Greenwood told the I-Team. “Who gets typhus? It’s a medieval disease that’s caused by trash.”

Tesla begins sales of cheaper Model 3 car variant in China (Thomas R.)

Previously, the starting price for a Model 3 in China was 499,000 yuan, for an all-wheel-drive long range version. Tesla said earlier this year that it plans to start delivering Model 3 cars to customers in China in March.

Tesla currently imports all the cars it sells in China but is in the process of building a factory in Shanghai that will manufacture Model 3 cars in the initial phase.

Venezuela’s collapse is a window into how the Oil Age will unravel (debu)

So how does a country like Venezuela with the largest reserves of crude oil in the world end up incapable of developing them? While various elements of socialism, corruption and neoliberal capitalism are all implicated in various ways, what no one’s talking about — especially the global oil industry — is that over the last decade, we’ve shifted into a new era. The world has moved from largely extracting cheap, easy crude, to becoming increasingly dependent on unconventional forms of oil and gas that are much more difficult and expensive to produce.

Massive Starfish Die-Off Is Tied To Global Warming (edelinski)

“What we think is that the warm water anomalies made these starfish more susceptible to the disease that was already out there,” says Joe Gaydos, the science director at the University of California, Davis’ SeaDoc Society and one author of a study out today in the journal Science Advances.

Gold & Silver

Click to read the PM Daily Market Commentary: 1/31/19

Provided daily by the Peak Prosperity Gold & Silver Group

Article suggestions for the Daily Digest can be sent to dd@peakprosperity.com. 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.”

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