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    Daily Digest 3/4 – Boomers Upend Workforce One Last Time, French Minorities Sitting Out Of Yellow Vest Protests

    by DailyDigest

    Monday, March 4, 2019, 8:48 AM

Economy

Baby Boomers upend the workforce one last time (Sparky1)

Companies typically said they were more concerned than they used to be about the cost of older workers, and the challenge of replacing the knowledge and skills those older workers will take with them on the way out the door. The reported rise in concern over older workers “blocking promotions of younger employees” was not as sharp, though about two-thirds of respondents said it was at least a moderate concern.

Deported parents demand the return of their children in U.S. custody (TS)

The families have 27 children in U.S. custody, and the youngest is 5 years old. Some of the parents have been separated from their kids for nearly a year, said members of private organizations representing the parents. The longest separation is 14 months, they said.

There’s been a mysterious surge in $100 bills in circulation, possibly linked to global corruption (tmn)

“It has nothing to do with the U.S. economy and nothing to do with interest rates,” said Colas. “There’s certainly enough evidence to say it is an enabler of corruption, but it is also a way for people to keep assets outside of the financial system albeit in a kind of bulky way.”

Get out of jail free employment absolutely minted (Michael S.)

The CEOs leaving are certainly in for “cash landing”: their stock and stock options are now worth much more, especially now after ploughing billions of their company’s money into share buybacks. With many more share buybacks planned for 2019, the CEOs “cashing out” may well end up selling their shares back to the very companies they’re leaving!

Want to be happy? Embrace being miserable (tmn)

Brock Bastian, a social psychologist at the University of Melbourne School of Psychological Sciences in Australia, argues in a 2018 paper in Emotion that trying too hard to be happy yields the opposite result. People who are deeply invested in the idea of achieving happiness are more likely to obsess over failure and negative feelings. Because these are unavoidable in any life, the high expectations create more stress that leads to increased negativity. “Happiness is a good thing, but setting it up as something to be achieved tends to fail,” Bastian told Time. “Our work shows that it changes how people respond to their negative emotions and experiences, leading them to feel worse about these and to ruminate on them more.”

France’s minorities are angry, too. But they’re mostly sitting out of the yellow vest protests. (tmn)

Mohamed Isaoui, 18, was waiting for a ride near the market. He said that he recently dropped out of school to take a minimum-wage job at a factory and that he, too, supported the yellow vests. “They are right to protest,” Isaoui said. “But I can’t bring myself to join them,” he added.

Theranos: How a broken patent system sustained its decade-long deception (jdargis)

For any disaster as large as Theranos, there’s plenty of blame to go around, of course. Both Holmes and former COO Sunny Balwani now face federal fraud charges. Theranos’ star-studded board of directors failed to do adequate oversight. Walgreens ignored warning signs before launching its in-store partnership. Some VCs and journalists were too eager to believe Theranos’ unproven claims.

American Farm Debt Reaches 1980s Crisis Levels: Agriculture Secretary (Don R.)

China has been a significant buyer of corn, soybeans and other agricultural commodities for at least three decades, but since President Trump launched protectionist policies, Beijing responded by imposing tariffs on American agriculture products which caused trade between both countries to decline. While Beijing has promised to buy hundreds of billions of dollars in agricultural items, it has offered little relief to soybean farmers who are teetering on bankruptcy even with President Trump’s farm bailout money in hand. But as recent trade negotiations might result in an upcoming lasting agreement, it might not be enough to save hundreds of heavily indebted American farms from sliding into bankruptcy.

Gold & Silver

Click to read the PM Daily Market Commentary: 3/1/19

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