• Daily Digest

    Daily Digest 3/23 – Myths And Realities Of America’s Rural Economy, Drought Is the U.S. West’s Next Big Climate Disaster

    by Daily Digest

    Tuesday, March 23, 2021, 7:11 PM

Economy

Myths And Realities Of America’s Rural Economy

Economist Gbenga Ajilore has been studying the economy of rural America for a long time, and when he speaks with people who are not from rural America, he finds that they often have the wrong impression. He commonly sees three assumptions that people make: 1) Rural America is all white 2) Rural America is all about farming, and 3) Rural America is dying.

Gbenga’s research on rural America has been focused on correcting these assumptions. And he now works as a senior advisor at the Department of Agriculture to hopefully prevent those false assumptions from misguiding policymakers.

Bitcoin may be entering the later stage of a bull market, crypto analysts say, as talk of a price plunge grows

Bitcoin may be entering the second half or later stages of a bull market, crypto analysts at Glassnode said on Monday, as nervousness grows in some quarters about a plunge in the price.

Glassnode’s weekly analysis found that there had been a pickup in “wealth transfers” from long-term bitcoin holders to newer speculators, which the company said was reminiscent of market peaks.

Rise of the Robocall

Walt Hickey is a senior editor for data at Insider. Recently, he has been getting a bunch of phone calls about renewing his auto warranty, but Walt doesn’t even have a car! Where is all this spam coming from?

Cell phone spam calls have been on the rise for a few years now. Americans receive billions of robocalls per month. Most people, like Walt, just hang up as soon as they find out it’s a scam robocall. So why are advertisers, even scammers, spending money on them? Turns out, robocalls are so cheap that even luring in a few people is worth paying for billions of calls, and even though these spam calls are technically illegal, the government hasn’t successfully clamped down on robocallers.

Saudi Arabia Skips LNG, Bets Big On Hydrogen

Last year, Saudi Arabia’s national oil company Saudi Aramco sent shockwaves through the natural gas markets after it announced that it was kicking off the biggest shale gas development outside of the United States. Saudi Aramco said it plans to spend $110 billion over the next couple of years to develop the Jafurah gas field, which is estimated to hold 200 trillion cubic feet of gas. The state-owned company hopes to start natural gas production from Jafurah in 2024 and reach 2.2 Bcf/d of sales gas by 2036 with an associated 425 million cubic feet per day of ethane.

Out Of Whack: Lack Of Homes For Sale Sends Prices Surging, Frustrates Buyers

Many Americans are ready and eager to buy a home right now. But they’re having trouble finding one.

Home sales edged down 6.6% in February compared with the previous month because there just aren’t enough houses out there for people to buy.

That lack of supply is also driving up prices as bidding wars break out with multiple offers on many homes.

Environment

Drought Is the U.S. West’s Next Big Climate Disaster

Normally at this time of year, Katy Kemp’s 80 head of cattle would be grazing on her family’s ranch in Staples, Texas. Instead, the herd is living off dwindling hay stores as drought dries up grassland and chokes off crops. Parts of Texas are so starved for water that ranchers are trucking feed 1,000 miles from Montana, driving up prices there and leaving hay producers completely sold out.

For Kemp, extreme weather has dealt a double blow, with February’s record snow storm killing off newly born calves even as aridity threatens to curtail feed supplies into next year. “Normal winter forage options like oats are months behind,” she said. That puts her and others at a disadvantage against ranchers in more temperate parts of the country.

Gold & Silver

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