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    Daily Digest 7/23 – NYC Raises Fast Food Wage To $15, How To Win The Hunger Games

    by DailyDigest

    Thursday, July 23, 2015, 3:04 PM

Economy

New York Plans $15-an-Hour Minimum Wage for Fast Food Workers (jdargis)

Flavia Cabral, 53, a grandmother from the Bronx who works part-time in a McDonald’s for $8.75 an hour, pointed out the scars where fry baskets had seared her forearms. “At least they listened to us,” she said, referring to the panel. “We’re breathing little by little.”

In America, mass incarceration has caused more crime than it’s prevented (jdargis)

There are five times as many people in prison today—nearly 5% of the population will be imprisoned at some point—as there were in the 1970s. The increase in crime during the 1960s and ’70s motivated Americans to get tough on crime, which took several forms. The most striking of these was putting lots of people in prison. Imprisonment is supposed to reduce crime in two ways: it takes criminals off the street so they can’t commit new crimes (incapacitation) and it discourages would-be criminals from committing crime (deterrence).

Missing Gold, Unpayable Debts, Financial Crises, Bail-Outs and Bail-Ins… There Must Be a Better Way (GE Christenson)

To Congress and the Administration: Give Bail-UPS and Bail-DOWNS a chance. Clearly bail-outs and bail-ins have been problematic, so let’s progress in a new direction that benefits taxpayers and debtors.

How to Get a Second Passport on a Budget (Tiffany B.)

By economic citizenship, which involves an investment in the country or payment of a fee. Some countries, particularly island nations, offer this in exchange for investment in real estate, a business, or in a government development fund. They include St. Kitts and Nevis, Antigua and Barbuda, Dominica, Grenada, Cyprus, Malta and (rarely granted) Austria. The least expensive of these is Dominica, which costs $100,000 plus processing fees. None of these citizenships are automatic; all involve a due diligence process and subjective evaluation by an immigration board.

Greece Clears Final Reform Hurdle Before New Bailout Talks (jdargis)

The number of disaffected Syriza lawmakers, who see the reforms as a betrayal of the anti-austerity platform that brought their party to power in January, shrunk slightly compared to last week’s similar vote — from 38 to 36. But that is still roughly a quarter of all party lawmakers.

Addressing parliament before the vote, Tsipras said the reforms were a necessary price to pay to keep Greece alive after stormy talks with its creditors nearly collapsed earlier this month.

New Weather Software Could Be A Game-Changer For Solar and Wind (Tom K.)

“By continuously training itself using historical records from thousands of weather stations and real-time measurements, IBM’s system combines predictions from a number of weather models with geographic information and other data to produce the most accurate forecasts – from minutes to weeks ahead,” said Dr. Siyuan Lu, an IBM researcher.

Economic slump, not natural gas boom, responsible for drop in CO2 emissions (Arthur Robey)

Between 2007 and 2009, when U.S. emissions plummeted by 10 percent, there were changes in how much Americans consumed, what types of products they consumed, the balance of manufacturing and service industries, and the quantity of energy used per dollar of products produced. Together, these changes account for more than three-quarters of the decrease in emissions between 1997 and 2013, with changes in the mix of fuels used to generate energy accounting for just 18 percent, Davis said.

Davis and his co-authors conclude that without new policies that limit CO2 emissions, it may be difficult to keep emissions down as the U.S. economy continues to recover. And in fact, U.S. CO2 emissions rose in 2013 and 2014.

This Time Is Different: Chesapeake Energy Scraps Dividend Amid Oil And Gas Plunge (Michael W.)

“We believe this decision is prudent as we continue to invest and redirect as much capital as possible into our world-class assets,” Chesapeake CEO Doug Lawler said in a statement. The company paid out 35-cents on an annualized basis, or approximately $240 million, funds that now can be plowed into revenue producing oilfields.

Winning the Hunger Games: Tom Wallace on How to Choose Successful Agriculture Investments (Kevin J.)

“The fundamentals that support growth in agricultural commodities are different from those of other commodities for a number of reasons, the main one being that people have to eat. You don’t need gold bullion. It’s great to have some to protect yourself from the actions of central bankers, but you don’t need gold to live. Everybody needs agriculture, so agriculture tends not to correlate with other assets like stocks or bonds. Those considerations are important.

“You can protect yourself relatively easily through diversification by location and by subsector. When it comes to agriculture, definitely don’t put all your eggs in one basket. If you’re buying farmland, for example, don’t just buy in one location. Do some research and find out where land is still reasonably priced, because many markets have experienced dramatic valuation increases in agricultural land in the recent past.”

Plant that can cause third-degree burns popping up in Canada (westcoastjan)

While reports in Canada have been minimal, a woman in Renfrew, Ontario was recently told she would have to avoid direct sunlight for three years after being badly burned by wild parsnip, a close relative of giant hogweed.

Wild parsnip looks similar, but is smaller and has yellow flowers.

Gold & Silver

Click to read the PM Daily Market Commentary: 7/22/15

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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