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    Daily Digest 6/1 – A Gold Rush In Texas, Can We Reboot Civilization Without Fossil Fuels?

    by DailyDigest

    Monday, June 1, 2015, 2:36 PM


Rise of the 'precariat,' the global scourge of precarious jobs (westcoastjan)

As the UN report notes, mass unemployment and underemployment puts steady downward pressure on wages — along with increasing child labour, estimated conservatively at 73 million, many working in near slave conditions.

They used to play golf, now senior citizens are staging heists and robbing banks (westcoastjan)

Young men still commit a disproportionate share of crimes in most countries. But crime rates among the elderly are rising in Britain and other European and Asian nations, adding a worrisome new dimension to the problem of aging populations.

A Gold Rush In Texas? (thc0655)

The goal is to create a secure facility that would allow the state to bring home more than $1 billion in gold bars that are owned by the University of Texas Investment Management Co. and are now housed at the Hong Kong and Shanghai Bank in New York.

Twenty-Three Geniuses (Michael W.)

The crackup of that financial system will be the signal failure of the collapse of the current economic regime. The financial system is the most fragile of all the systems we depend on (though the others do not lack fragility). This is the reason, by the way, that oil prices are so low, despite the fact that the cost of producing oil has never been higher. The oil customers are going broke even faster than the oil producers. Does anybody doubt that the standard of living in the USA is falling, despite all our cell phone apps?

Zombie Patriot Act Will Keep U.S. Spying—Even if the Original Dies (jdargis)

National-security letters were actually around before the Patriot Act became law in 2001, but the legislation lowered the standard that the government must meet to obtain them. They’ll still be comparatively easy to get now that portions of the Patriot Act are off the books.

The Missing Statistics of Criminal Justice (jdargis)

The most commonly cited figure comes from the Vera Institute for Justice, which estimates that around 80,000 people are in solitary confinement at any given time in the United States. But precise statistics remain elusive despite the substantial policy implications. There is abundant evidence that prolonged isolation can be mentally and psychologically traumatic. Justice Anthony Kennedy told Congress in April that solitary confinement “literally drives men mad.”

Out Of The Ashes (repost, cmartenson)

It’s easy to underestimate our current dependence on fossil fuels. In everyday life, their most visible use is the petrol or diesel pumped into the vehicles that fill our roads, and the coal and natural gas which fire the power stations that electrify our modern lives. But we also rely on a range of different industrial materials, and in most cases, high temperatures are required to transform the stuff we dig out of the ground or harvest from the landscape into something useful. You can’t smelt metal, make glass, roast the ingredients of concrete, or synthesise artificial fertiliser without a lot of heat. It is fossil fuels – coal, gas and oil – that provide most of this thermal energy.

This Week in Energy: Oil Glut Easing At A Snail’s Pace (Tom K.)

Part of the reason for the huge jump in daily tanker rates is because more oil is being exported from OPEC countries. Saudi Arabia is producing at its highest level in more than three decades. Iraq is poised to see a record high level for oil exports in the coming weeks, as it plans to boost oil exports to 3.75 million barrels per day in June. The massive increase in oil exports from Iraq, in particular, is a huge development for oil markets. As the world is dealing with a supply overhang, Iraq is pouring an additional three-quarters of a million barrels per day into the global pool of oil.

Gold & Silver

Click to read the PM Daily Market Commentary: 5/29/15

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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