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    Daily Digest 3/26 – One Step From Meltdown, Trump Vs. Congress

    by DailyDigest

    Sunday, March 26, 2017, 4:10 PM


Upset in France would have bigger impact here than Brexit or Trump (Cornelius9999)

The French eat lots but are skinny, they smoke heavily but have the same level of cancer as others, they drink but don’t get hammered and when they play sport, they are flamboyant and daring. France’s literature, arts, cinema and philosophy is unique. The French work only 35 hours a week yet produce more per head than the work-obsessed British.

Trump Vs. Congress: Now What? (jdargis)

When Chaffetz and I spoke in March, he had met with the president twice so far — access he considered “such a huge sea change” from the stony silence Republicans say they encountered from the Obama White House. Most important, the Trump agenda’s first three projected legislative moves — the Obamacare repeal and replacement, an austere budget and tax reform — were intended to keep conservatives happily in Trump’s camp. In turn, when the agenda moved on to less conservative items like infrastructure and trade agreements, Trump and Bannon would fully expect Republicans, including Ryan, to remember whose message resonated most with working-class voters last year.

GOP Eyes Tax Overhaul — And Lessons From Health-Care Failure (jdargis)

That sentiment reflected the mood of some anxious and frustrated Republicans, who were unable to muster enough votes in their first major test of governing in the Trump era. Several lawmakers said a complete overhaul of the tax code — which hasn’t been done in more than 30 years — would be tougher in the wake of the American Health Care Act’s defeat, as might the rest of their agenda.

One Step From Meltdown (Tiffany D.)

These results match a similar survey run by Pew Charitable Trusts, which showed that more than one-third of families that suffered large fluctuations in their income were more likely than those with stable incomes to be unable to come up with $2,000 to cover an emergency expense.

While the average American family struggles with expenses, we are also seeing data to indicate that the employment picture is downright rosy. For February, the headline unemployment rate dropped from 4.8% to 4.7%.

JNUG up, Stalled? Sell now or get JDST? What happens May 1 (DG)

So if my original Go-In was $1,000, my correction Buy-In is $500. And so on, always half of the previous commitment, so that a drop at the top doesn’t ruin my profit picture, merely put a dent in it if at all.

Russian Roulette, Central Banks, and Gold (GE Christenson)

If central banks and the five largest commercial banks contribute to congressional elections, and Presidents fill their key positions with executives from the financial industries, and regulators work for them, what is the likely result? If a few large commercial banks are too big to fail, the government and taxpayers must … and you know the drill. More debt, more influence, more derivatives, and a successful business model that benefits the wealthy far more than the middle class.

OPEC In Trouble As Saudis Becoming Weary Of “Free Riders” (Michael K.)

But how long will Riyadh choose to maintain this strategy? Saudi energy minister Khalid al-Falih said definitively that his country will abide no “free riders” hoping to take advantage of Saudi cuts to ramp up their own production, as OPEC and non-OPEC producers did in the 1980s. It now seems possible that OPEC may agree on an extension of the production cuts past June 2017, but with its own agenda and an eye towards an “oil-less” future, Saudi Arabia may choose to pull back from its over-exertions on behalf of world oil markets and look after its own interests.

Food Waste, No More—Scientists Have Figured Out A New Use For Orange Peels (jdargis)

These researchers have figured out a process to turn citrus peels—oranges and grapefruits were tested, though the process could in the future apply to other peels—into a sort of burnt-umber sediment by first dehydrating then, then chemically treating them to mess with the acid/base ratio and their texture. That enables the peels to filter out exactly the metals we don’t want in our water, and to enhance their adsorption. (Not absorption, mind you: adsorption describes a filtering process, in which undesired materials can’t make it through a material and instead form a sort of film on the outside.)

Gold & Silver

Click to read the PM Daily Market Commentary: 3/24/17

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