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    Daily Digest 7/18 – The Shifting Ethics Of Software, Could A Deutsche Bank Collapse Crash The Markets?

    by Daily Digest

    Thursday, July 18, 2019, 8:10 AM


Economy

Secret locations of U.S. nuclear weapons in Europe accidentally included in report from NATO parliament (Sparky1)

The document does not attribute this information to any source. Last week, a final version of the report was published online, and it omits the specific reference to where bombs are stored. Instead, the report refers vaguely to aircraft that could carry nuclear weapons.

Could A Deutsche Bank Collapse Crash The Markets? (thc0655)

Deutsche Bank is being prevented from collapsing by the German Government, the Bundesbank and the ECB. That’s been implicitly acknowledged over the last few years that this is case. The attempt to wash Deutsche Bank’s problems through a merger with Commerzbank failed. In 2008/2009, Bear Stearns’ and Wash Mutual’s sins were cleansed through bankruptcy court and through JP Morgan. In the same way, Merrill Lynch’s disastrous balance sheet was cleansed through Bank of America.

Washington rips Silicon Valley, but don’t expect much action (Adam)

The attacks Tuesday dealt with a hodgepodge of issues and sometimes-incompatible complaints, though often in withering terms, in particular at the morning Senate hearing where Ohio Democrat Sherrod Brown called it “delusional” for Facebook to expect people to trust the company with their wallets.

“Their motto has been ‘move fast and break things.’ And they certainly have,” Brown said at a hearing on Facebook’s planned digital currency, Libra. “They moved fast and broke our political discourse, they broke journalism, they helped incite a genocide and they’re undermining our democracy.”

What the Superhuman Controversy Reveals About the Shifting Ethics of Software (tmn)

All of this seems familiar; these days, the ritualized trading of revelation and apology is commonplace in the software industry. And yet the controversy, and Superhuman’s limited, imperfect response to it, was a revealing snapshot of this moment in tech. For years, Silicon Valley benefitted from tech reporting that was either breathless and laudatory or simply indifferent. Since the 2016 election, though, tech coverage has grown more skeptical, investigative, and serious—a shift from treating Silicon Valley as a novelty to seeing it as the power center it has become. The industry has been struggling to adjust to being the center of attention on outsiders’ terms.

Insanity: Now even junk bonds have negative yields (Adam)

In a number of countries, including Switzerland, Japan, Denmark, and the entire Eurozone, central bankers have printed so much money that interest rates are actually negative.

If you buy a 10 Year German government bond, for instance, your annual investment return will be negative 0.27% per year, based on this morning’s rates.

Foreign Buying of U.S. Homes Suffers Record Drop (Adam)

Foreigners bought less than $78 billion worth of U.S. residential real estate in the year that ended in March—a 36% decline from $121 billion the previous year, according to a report released Wednesday by the National Association of Realtors.

House passes amendment ordering Pentagon to review whether U.S. experimented with weaponizing ticks (Sparky1)

The theory, which sounds like something straight out of a science fiction novel, contends that bioweapon specialists packed ticks with pathogens that could cause severe disabilities, disease and death among potential enemies to the homeland. Smith said he was inspired to add the amendment to the annual defense bill by “a number of books and articles suggesting that significant research had been done at U.S. government facilities including Fort Detrick, Maryland and Plum Island, New York to turn ticks and other insects into bioweapons.”

Lithuanian genome: does it differ from other Europeans (newsbuoy)

Recent genetic research also revealed a slight difference between the genomes of people from Žemaitija and Aukštaitija (lowland and highland areas in Lithuania). Scientists believe that this could be due to the partial genetic isolation of Lithuanians. As the researchers say, the higher the hierarchical level of the population (village, locality, district), the fewer differences are found in the genome. The biggest difference came from the inhabitants of villages in Aukštaitija and Žemaitija.

Bowling Alone: How Washington Has Helped Destroy American Civil Society and Family Life (Alex)

There’s also the question of religious donations. Religious giving has declined by 50 percent since 1990, according to a 2016 article in the New York Times. This means people who previously used religious services to make ends meet now either have to go without or receive funding from the government. This, in turn, strengthens the central power of the state.

India’s Solution To A 100% Surge In Energy Demand (Michael S.)

“Historically, India’s energy has been based on coal, primarily for generating electricity,” said Sumant Sinha, ReNew Chairman and founder. “But now renewables have become so much cheaper, about 30 or 40% cheaper than coal, that going forward a large part of the demand is going to be met through renewable energy sources.”

Trump Administration Proposes New Agriculture Immigration Rules (newsbuoy)

“The proposed rule will increase access to a reliable legal agricultural workforce, easing unnecessary burdens on farmers, increase enforcement against fraud and abuse, all while maintaining protections for America’s workers,” Agriculture Secretary Sonny Perdue said in a statement. “When this rule goes into effect, our farmers will be released from unnecessary and burdensome regulations.”

Gold & Silver

Click to read the PM Daily Market Commentary: 7/17/19

Provided daily by the Peak Prosperity Gold & Silver Group

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