The president of the European Council, Donald Tusk, spoke apocalyptically about a British exit, or “Brexit,” to the German tabloid Bild. He said all members of the European Union would suffer, as would the postwar structure of Europe that had kept the peace.
“Why is it so dangerous?” Mr. Tusk asked. “No one can foresee what the long-term consequences would be. As a historian, I fear that Brexit could be the beginning of the destruction of not only the E.U., but also of Western political civilization.”
When it comes to economic self-governance, Cameron got an explicit recognition that the Euro is not the single currency of the EU, and that the UK will not be pressured to contribute to the Eurozone bailouts. But what about the British economy itself? British businesses have long complained about losing competitiveness. In general, the EU single market makes it easier to move money and products and grants business a large consumer base. However, the data released by the Office for National Statistics casts a different light on this point: Europe has become a less important trading partner. In 2000, the EU represented 60% of the UK’s total exports. As of April 2016, this number has dropped to 48%. Meanwhile, imports from the EU have been within the range of 47% to 55% since end-2014, and are thereby contributing to a growing trade deficit.
The Case For Free Money (jdargis)
One striking thing about guaranteeing a basic income is that it’s always had support both on the left and on the right—albeit for different reasons. Martin Luther King embraced the idea, but so did the right-wing economist Milton Friedman, while the Nixon Administration even tried to get a basic-income guarantee through Congress. These days, among younger thinkers on the left, the U.B.I. is seen as a means to ending poverty, combatting rising inequality, and liberating workers from the burden of crappy jobs. For thinkers on the right, the U.B.I. seems like a simpler, and more libertarian, alternative to the thicket of anti-poverty and social-welfare programs.
Connecticut Senator Chris Murphy, a Democrat, held the floor on Wednesday night in a "filibuster," a tactic that enables lawmakers to block proceedings.
The filibuster came to an end when Republicans eventually pledged to hold votes on measures for expanding background checks and preventing people on terrorism watch lists to obtain guns.
The two indicators that we consider most concerning are the Commitment of Traders (COT) data for both gold and silver. We have explained many times how we interpret the COT data: the faster the net short positions of commercials (hedgers) grow, to an extreme level, the more bearish the outlook for prices. Both gold and silver sax an extremely fast run up between January and March of 2016. That is very bearish. Chart courtesy: Sharelynx.
Even the U.S. owes its independence in part to mosquitoes and malaria. In 1780, the southern colonies, a region with widespread malaria, became a decisive theater in the American Revolution. British troops had almost no experience with malaria, and thus no resistance to it. American militiamen and much of the Continental Army, had grown up in the South and faced malaria every summer of their lives. So in the summer of 1780, the British Army hosted its own malaria epidemic, which was particularly intense in the South Carolina low country. At times, half the British Army was too sick to move. No one knew that mosquitoes carried malaria, and the British did not have the means to combat it.
If you think slavery doesn’t exist anymore—think again. According to the International Labor Organization (ILO), almost 21 million people are victims of forced labor today. Of those, nearly 19 million are exploited by private individuals or enterprises, compared to slightly over 2 million who are exploited by the state or rebel groups.
It’s a visually striking celestial moment that happens about once a generation. Because it is so unusual, the Farmer’s Almanac will join with Slooh, an online network of robotic telescopes, to live-stream the June solstice full moon, complete with commentary from Berman and Slooh staff astronomer Paul Cox. You can watch on YouTube once the stream begins Monday night.
Gold & Silver
Provided daily by the Peak Prosperity Gold & Silver Group
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