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    Daily Digest 6/15 – BP Says Tectonic Shift Underway In Energy, Broken Cities

    by DailyDigest

    Monday, June 15, 2015, 3:04 PM

Economy

San Bernadino: Broken City (Phil H.)

Of the 100 biggest cities in the U.S., San Bernardino, 60 miles east of Los Angeles, was ranked the second-poorest in the nation in the 2010 census, behind Detroit. Two years later it filed for bankruptcy. Last month the City Council approved a 77-page plan that it hopes will move the city toward solvency, in part by making residents pay higher taxes and fees while further cutting their services.

End game as the global bond bubble bursts (Arthur Robey)

If US bond yields keep rising they’ll slowly percolate up to all other rates everywhere. They’ve risen 48 basis points in less than two weeks, which might not sound much but in bondland that’s panic stations. It’s akin to a 24 per cent jump in interest payments.

It reverberates to sharemarkets because rising bond yields lure the big institutions, such as insurance companies, from them.

The banks and real estate: a Ponzi scheme that could ruin us? (Arthur Robey)

None of this is being fuelled by wages growth. Beneath this month’s GDP figures – which superficially showed an encouraging 0.9 per cent lift for the March quarter – lay the real story. Nominal GDP – a much better proxy for earnings and wages – grew just 0.4 per cent for the quarter and an anaemic 1.2 per cent for the year.

In the past fortnight, the Prime Minister and the Treasurer have been assailed by the nation’s three most powerful economic mandarins, each of whom has directly contradicted the Government mantra on rising property prices.

Scans Show Psychopaths Have Brain Abnormalities (sand_puppy)

“The cold-hearted psychopathic group begin offending earlier, engage in a broader range and greater density of offending behaviors, and respond less well to treatment programs in adulthood, compared to the hot-headed group. We now know that this behavioral difference corresponds to very specific structural brain abnormalities which underpin psychopathic behavior, such as profound deficits in empathizing with the distress of others.”

Greece’s state broadcaster ERT back on air after two years (jdargis)

“It’s a special day for all Greeks, for those who love Greece and for those who love freedom of information,” presenter Nikos Aggelidis said at the start of the first show on Thursday.

“We’re nervous. We’re very touched.”

The American Medical Association is finally taking a stand on quacks like Dr. Oz (jdargis)

The AMA will look at creating ethical guidelines for physicians in the media, write a report on how doctors may be disciplined for violating medical ethics through their press involvement, and release a public statement denouncing the dissemination of dubious medical information through the radio, TV, newspapers, or websites.

This Week In Energy: BP Claims Tectonic Shift Underway In Energy (Tom K.)

This Week In Energy: BP Claims Tectonic Shift Underway In EnergyFresh data from the EIA is raising more questions than answers. In a monthly report on drilling productivity, the EIA predicted that the U.S. would see overall oil production fall in July by about 91,000 barrels per day, after falling by nearly as much in June. The report confirmed that a contraction is proceeding steadily.

Can You Use Big Data to Track an Elephant Poacher? (jdargis)

What kind of story about poaching in Africa would we be able to piece together if we could use “big data” to sift through global news reporting of wildlife and environmental crime over the last three months to create a map of its scale as sifted through the lens of the international media? Using the Global Database of Events, Language, and Tone (GDELT) Project, which monitors local media around the world (and live-translates it from 65 languages, along with Google’s BigQuery system and CartoDB’s online mapping platform), the map offers a glimpse through the nearly 30,000 articles relating to wildlife and environmental crime monitored by GDELT from Feb. 19 through June 2.

Gold & Silver

Click to read the PM Daily Market Commentary: 6/12/15

Provided daily by the Peak Prosperity Gold & Silver Group

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