The Dictator’s (False) Dilemma (richcabot)
Defining and measuring democracy is like defining capitalism or measuring free markets (or emotions or values, for that matter). As abstract concepts they don’t easily lend themselves to quantification; as a result, ideas about them face widespread and passionate disagreement. Democracy is an ideal that by its very political nature tends to be dominated by the autocratic and authoritarian, thus the steady-state is usually some form of oligarchy. Capitalism, too, tends to fall short of the ideal, and for similar reasons. As Adam Smith observed, “People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.”
Banking Panic in Italy (Aaron M.)
We have reports from readers in Italy that ATM machines are being emptied. A run on banks is beginning in Italy.
In April, the EU laid down new regulations for the collection, storage, and use of personal data, including online data. Ten years in the making and set to take affect in 2018, the General Data Protection Regulation guards the data of EU citizens even when collected by companies based in other parts of the world. It codifies the “right to be forgotten”, which lets citizens request that certain links not appear when their name is typed into Internet search engines. And it gives EU authorities the power to fine companies an enormous 20 million euro—or four percent of their global revenue—if they infringe.
Don’t Fall for the Jobs Data Deception (Tiffany D.)
After the June jobs data was released, the Dow Jones Industrial Average jumped 100 points and left investors with hopes of a stronger economy in the second half of the year.
But that’s not likely the case.
Silver Prices – What Next? (GE Christenson)
Current US official national debt is about $19.4 trillion. Unfunded liabilities are five to ten times higher. Do we really believe that the exponential growth of debt, which will probably accelerate in coming years, can reach $160 Trillion in the year 2040 or thereabouts? A prior reset seems likely!
Time To Adjust Your Wealth Plan (Taki T.)
Global prospects for growth remain sluggish at best, in spite of reduced expectations for Fed fiscal tightening and a moderate recovery in oil prices. One can expect growth to continue to be hindered by economic uncertainties in the US, questionable central bank policies, and the Chinese slowdown. And on top of it all, political risks also still abound.
Oakland police report a handful of businesses were victims of vandalism, including broken windows at Smart and Final and Foot Locker and graffiti on the window of Chase Bank at 14th and Broadway. Graffiti was sprayed on columns in the 1000 block of Broadway and a small fire ignited on 880.
Set in Hampshire, Ill., about 50 miles from downtown Chicago, Serosun Farms is a new home-conservation development, restoring wetlands, woodlands and prairie, and preserving farmland throughout. Already, the frog population has grown exponentially from the conservation work done onsite, and monarch butterflies are also on the rebound, said Jane Stickland, who is working on the project with her brother, developer John DeWald. Their efforts also are boosting the bee population.
Gold & Silver
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