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    Daily Digest 3/30 – The Big Picture On Debt And Devaluations, Can The Hard Brexiteers Pull It Off?

    by DailyDigest

    Saturday, March 30, 2019, 6:55 AM

Economy

State Dept. believes US legal residents are being held in Chinese detention camps (Sparky1)

“He had legal status being here, traveled back to Xinjiang after being here with his son in California. And then has not been heard from since. And he’s deeply concerned about whether, what his treatment is. He has a number of chronic illnesses, he’s a 75-year-old man and an intellectual,” Brownback said.

U.S. senators introduce bill to stop transfer of F-35 fighters to Turkey (Thomas R.)

“Turkey is an important NATO ally and willing partner in addressing a number of U.S. national security priorities,” said Lankford. “It’s concerning that Turkey would seek close defense cooperation with Russia, whose authoritarian ruler seeks to undermine NATO and U.S. interests at every turn.”

Brexit Update: Can The Hard Brexiteers Pull It Off? (James W.)

In early January 2016, I forecast that Britain would narrowly vote to leave the EU which shocked my early readership. It has been a wild ride since that extraordinary day when voters rebelled against their own governing class, and with our next cliff edge date looming on 12th April, where are we now?

Lyft cruises onto Wall Street in style with strong stock market debut (Thomas R.)

Lyft’s debut is the first of many expected public offerings this year. If all goes as planned, 2019 will be another year of the tech IPO. Uber, Airbnb, Pinterest, Slack and Palantir are among the other tech companies expected to go public. Analysts think Uber, the world’s most highly valued private company, could be worth as much as $120 billion after going public, which would make it the biggest IPO in US history.

Amazon says it will create 800 tech jobs in Austin (Thomas R.)

The world’s largest online retailer has already added more than 22,000 full-time jobs in Texas, it said in a news release, ultimately investing more than $7 billion in the state, including infrastructure and employees compensation. It currently has about 6,000 workers in Austin.

The Big Picture on Debt and Devaluations (GE Christenson)

Examine this log-scale graph of weekly S&P 500 Index prices since 1971 – the beginning of the “dollars are IOUs” era. Prices have remained within a five decade exponentially rising trend channel, except for the bubble in 2000. (Exponentially rising prices are straight lines on a log-scale graph.)

The global battle for the internet is just starting (John J.)

One of the central questions of our age is which model will become pre-eminent, not least among the half of humanity who are not yet online. With Donald Trump’s trade war providing a crude kind of mood music, the battle so far is not quite as simple as Chinese platforms duking it out with their US counterparts: the tech clash has been more visible in tensions over nuts-and-bolts infrastructure, particularly when it comes to the activities of the IT giant Huawei.

White House warns Russia over troops in Venezuela, threatens sanctions (Sparky1)

U.S. President Donald Trump earlier this week said “Russia has to get out” of Venezuela and said “all options” were open to force Russia to do so after two Russian air force planes carrying nearly 100 military personnel landed outside Caracas.

Hundreds of thousands march against Algeria’s Bouteflika (Sparky1)

“We have only one word to say today: all the gang must go immediately, game over,” said Ali, a merchant, as other protesters shouted “The people want the fall of the regime!” – the rallying cry of the Arab Spring uprisings in 2011.

Another Reason for Washington in Venezuela? (newsbuoy)

Given the track record in brutal regime change of US operators such as Elliott Abrams and others in the present effort to oust President Maduro in favor of Assembly President Juan Guaidó as interim president, it seems something other than supporting free and fair elections is involved to put it mildly. If we look at the role of foreign governments not only in Venezuela but in the broader region as a possible US motive, what comes into focus is the potential and very significant presence of China and its economic stake in Venezuela and the entire region, one receiving little attention to date.

Trump tweets that OPEC should boost oil production as gas prices rise in U.S. (Thomas R.)

Oil experts were thinking “it was just a matter of time” before Trump tweeted about it, “and of course this morning he delivers,” said Patrick DeHaan, head of petroleum analysis at fuel-savings app GasBuddy.

Top oil firms spending millions lobbying to block climate change policies, says report (John J.)

In the run-up to the US midterm elections last year $2m was spent on targeted Facebook and Instagram ads by global oil giants and their industry bodies, promoting the benefits of increased fossil fuel production, according to the report published on Friday by InfluenceMap.

Climate Challenge Will Be Harder Than It Seems, JPMorgan Executive Warns (John J.)

In his report, “Mountains and Molehills,” which was released on Monday, Cembalest starts by pointed out that even if the world succeeded at generating all its electricity from zero-emissions sources, such as renewable energy or nuclear power, electricity makes up less than one-third of fossil fuel consumption.

The Worst Disease Ever Recorded (Adam, Sparky1)

Scheele’s team estimates that the fungus has caused the decline of 501 amphibian species—about 6.5 percent of the known total. Of these, 90 have been wiped out entirely. Another 124 have fallen by more than 90 percent, and their odds of recovery are slim. Never in recorded history has a single disease burned down so much of the tree of life. “It rewrote our understanding of what disease could do to wildlife,” Scheele says.

Trump signs permit to jump-start delayed construction of Keystone XL pipeline (Sparky1)

The order supersedes a March 2017 order. That permit was invalidated by a Montana federal judge in November. The ruling is being appealed in the 9th Circuit. Separately, a December lawsuit placed an injunction on most pre-construction activities.

Gold & Silver

Click to read the PM Daily Market Commentary: 3/28/19

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.”

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