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    Daily Digest 8/21 – Nightmare On Main Street, Kids In The Age Of Climate Change

    by DailyDigest

    Sunday, August 21, 2016, 5:29 PM


The richest 10% hold 76% of the wealth (Adam)

Not surprisingly, wealth was higher for households headed by someone 65 or older. Median wealth for these families was $211,000, or almost three-and-a-half times higher than the median for households run by someone 35 to 49.

Families run by adults with college degrees, meanwhile, had a median wealth of $202,000, or nearly four times that of families headed by someone who only had a high school diploma.

Counting Human Rights Violations with GoFundMe (jdargis)

Anyways, this is probably less useful as an exercise in how much is being sent to GoFundMe, and more useful as a measure of how many desperately ill people in our society have no recourse but crowdfunding.

Nightmare On Main Street (jdargis)

The dangers of a nationalised system are more insidious. The size, design and availability of mortgages is now decided by official fiat. Partly because the state charges too little for the guarantees it offers, taxpayers are subsidising housing borrowers to the tune of up to $150 billion a year, or 1% of GDP. Since the government mortgage machine need not make a profit or have safety buffers, well-run private firms cannot compete, so many banks have withdrawn from making mortgages. If there is another crisis the taxpayer will still have to foot the bill, which could be 2-4% of GDP, not far off the cost of the 2008-09 bank bail-out.

Inside the Global Hunt for a Better Way to Measure the Economy (jdargis)

That search is binding such disparate endeavors as a stocks brokerage in Mumbai and a statistics conference in Dresden, Germany. The former, Ambit Capital, has created its own consumption index based on vehicle sales and electricity use as a hedge on India’s official growth numbers. That reflects a skepticism evident elsewhere that existing methods can’t consistently measure even traditional parts of the economy, and GDP is so subject to large revisions as to be of little use in making snap investment decisions.

Before And After: Historic Flooding Devastates Louisiana Communities (jdargis)

At the flood’s peak, 30,000 people were rescued from waterlogged homes or vehicles, officials said. As residents began to return home, Gov. John Bel Edwards urged caution.

Should We Be Having Kids In The Age Of Climate Change? (Yoxa)

Rieder wears a tweedy jacket and tennis shoes, and he limps because of a motorcycle accident. He’s a philosopher with the Berman Institute of Bioethics at Johns Hopkins University in Baltimore, and his arguments against having children are moral.

The Upside of Global Warming: Luxury “Northwest Passage” Cruises for the Filthy Rich (Michael W.)

A growing trickle of recreational and cargo ships have managed the trip in recent years, but the 820-foot, 13-deck Crystal Serenity will be, by far, the largest to do so. On board will be a rarefied set of passengers, each of whom paid between $22,000 and $120,000 for the privilege—plus $50,000 in required “emergency evacuation” insurance, according to National Geographic. At their disposal will be a crew of 600, a spa, a fitness center, a hair salon, multiple swimming pools, six restaurants, a movie theater, a casino, a driving range, and a complimentary “get out of hell free” card.

Migration in Motion: Visualizing Species Movements Due to Climate Change (jdargis)

Conservancy cartographer and analyst Dan Majka brought this data to life in a series of maps that show what corridors mammals, amphibians, and other animals will use as they move to new habitats under projected climate change. Inspired by wind maps of the United States, and using code from Earth global wind map, adapted by Chris Helm, Majka’s dynamic map allows scientists and the public to see the continent-wide impact of climate change on animals and visualize corridors they will need to move.

Gold & Silver

Click to read the PM Daily Market Commentary: 8/19/16

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