Investing in Precious Metals 101 Ad
  • Daily Digest
    Image by SantaRosa OLD SKOOL, Flickr Creative Commons

    Daily Digest 3/5 – U.S. Cities Burn Recyclables After China Bans Imports, Was Trade War Worth It?

    by DailyDigest

    Tuesday, March 5, 2019, 7:48 AM

Economy

Donald Trump’s emergency order hits wall with GOP senators. What’s next? (tmn)

Republicans say that while they support Trump’s objective – building a wall along the U.S.-Mexico border – several have serious reservations about declaring a national emergency to free up billions of dollars for the structure. Some lawmakers also have raised concerns that Trump will be diverting from key military programs to fund the barrier.

Ground Rules of Existence (Aaron M.)

What the Fed did through its policy of quantitative easing was simply to encourage yield-seeking. It purchased interest-bearing government securities, and paid for them by creating $4 trillion in zero-interest bank reserves, which someone had to hold at every point in time. The effort by each successive holder to get rid of that zero-interest money created a game of “hot potato,” by which other securities were bid up until their long-term expected returns were also driven toward zero. And here we are.

As Trump Moves to End Trade War With China, Business Asks: Was It Worth It? (jdargis)

Over the past several weeks, American and Chinese negotiators have been in almost constant contact over phone and video conferencing to hammer out the terms of a deal. China has agreed to drop the retaliatory tariffs it imposed to counter Mr. Trump’s levies on $250 billion worth of Chinese goods and to provide greater access to its markets for cars, beef, chemicals and other products.

Amid uproar over high drug prices, Eli Lilly introduces generic insulin at half price of brand-name Humalog (Thomas R.)

“We don’t want anyone to ration or skip doses of insulin due to affordability. And no one should pay the full Humalog retail price,” Ricks said, describing the generic drug as “a bridge that addresses gaps in the current system until we have a more sustainable model.”

The Retail Apocalypse Is Heating Up in 2019. Here Are the Major Stores Currently on Deathwatch (Thomas R.)

Below are seven big retailers closing stores left and right in 2019. Some are restructuring debt and refiguring business models to fight to stay alive in today’s fast-moving ultra-competitive retail world, where every store must offer a compelling alternative to Amazon in order to win over shoppers. Other retailers have already lost the battle, are hosting liquidation sales right now, and will soon disappear entirely — like Toys “R” Us and Bon-Ton before them.

Production will end at GM’s Lordstown, Ohio plant on Wednesday (Sparky1, Thomas R.)

Last week, the United Auto Workers union sued General Motors over its plans to shutter three of the plants, including Lordstown. The union claims that the decision violates the union’s labor contract.

It’s asking the court to order GM to reverse the closures. It’s also seeking damages for affected employees, including back wages and benefits.

There are more $100 bills in circulation than $1 bills, and it makes no cents (Thomas R.)

The Benjamin Franklin-faced currency has been the largest U.S. bill since the $500, $1,000 and $5,000 were axed in 1969, but it’s not very popular for day-to-day transactions. The average American carries about $60 in cash, according to a 2017 study from the Federal Reserve Bank of Atlanta. A December study from Pew Research Center found that about 30 percent of Americans use no cash at all on a weekly basis, suggesting that, in the digital age, cash is going out of style altogether.

The Trauma Floor: The secret lives of Facebook moderators in America (jdargis)

Over the past three months, I interviewed a dozen current and former employees of Cognizant in Phoenix. All had signed non-disclosure agreements with Cognizant in which they pledged not to discuss their work for Facebook — or even acknowledge that Facebook is Cognizant’s client. The shroud of secrecy is meant to protect employees from users who may be angry about a content moderation decision and seek to resolve it with a known Facebook contractor. The NDAs are also meant to prevent contractors from sharing Facebook users’ personal information with the outside world, at a time of intense scrutiny over data privacy issues.

FDA puts 15 national retailers on notice for allegedly selling tobacco products to minors (Thomas R.)

He sent Walgreens a letter on Monday requesting a meeting with its management team. Last month, Gottlieb said Walgreenswas the top violator among pharmacies that sell tobacco products. Some 22 percent of Walgreens locations inspected by the agency caught employees illegally selling tobacco products to minors, the FDA said in a press release at the time.

‘Moment of reckoning’: US cities burn recyclables after China bans imports (tmn)

The loss of this overseas dumping ground means that plastics, paper and glass set aside for recycling by Americans is being stuffed into domestic landfills or is simply burned in vast volumes. This new reality risks an increase of plumes of toxic pollution that threaten the largely black and Latino communities who live near heavy industry and dumping sites in the US.

Heatwaves sweeping oceans ‘like wildfires’, scientists reveal (jdargis)

“You have heatwave-induced wildfires that take out huge areas of forest, but this is happening underwater as well,” said Dan Smale at the Marine Biological Association in Plymouth, UK, who led the research published in Nature Climate Change. “You see the kelp and seagrasses dying in front of you. Within weeks or months they are just gone, along hundreds of kilometres of coastline.”

Gold & Silver

Click to read the PM Daily Market Commentary: 3/4/19

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.”

Related content
» More

2 Comments

Login or Register to post comments