“More people are finding jobs, but nobody feels optimistic about their income prospects,” he added. “That’s likely why it doesn’t feel like the economy has really recovered even though the statistics say it has.”
The Suicide of the American Left (Michael W.)
The gap between the current Washington consensus and the former ideals of the nation’s political parties, not to mention the wishes of the people on whose sovereign will the whole system is supposed to depend, has attracted an increasing amount of attention in recent years. That’s driven quite a bit of debate, and no shortage of fingerpointing, about the origins and purposes of the policies that are welded into place in US politics these days. On the left, the most popular candidates just now for the position of villainous influence behind it all mostly come from the banking industry; on the right, the field is somewhat more diverse; and there’s no shortage of options from further afield.
Coming Out – As a Bear! (Aaron M.)
Earlier this year, as the market kept marching upward, I decided that buying put options on equities wouldn’t give me the kind of protection I was looking for. So I liquidated most of my equity holdings. We also shut down our equity strategy for the firm.
Of late, I’ve taken it a step further, starting to build an outright short position on the market. In the long-run, this may be losing proposition, but right now, I am rather concerned about traditional asset allocation.
James Turk: Money Bubble About to Pop (Herman J.)
This money bubble is going to pop. It has to because there is just too much debt in the world. That debt has to be reconciled and, ultimately, when you are reconciling debt, it gets back to the point about collateral on the balance sheets. There is just not enough good collateral to support all of this paper money circulating out there.
The Economist: The TPP is Dead (westcoastjan)
The coverage of the TPP in the media was schizophrenic, on the one hand describing it as part of Obama’s “pivot to Asia” (as in an effort to contain China’s growing hegemony), meaning it was clearly a political enterprise, an “everybody but China” deal, and on the other hand, saying that the reason Americans should support it was those miniscule trade benefits. And of course, there was nary a mention of the cost in terms of national sovereignity.
On a related matter—whether or not the nuclear agreement represents a bad deal for the people of Syria, who suffer under the Iran-supported Assad regime, which will presumably benefit financially from the lifting of sanctions on its primary sponsor—Kerry was somewhat dismissive. In response to my question, “Does it bother you that money will be going to Assad and Hezbollah?,” Kerry responded, “Yes, but it’s not dispositive. It’s not money that’s going to make a difference ultimately in what is happening.”
Qatar and its energy partners took the business to a new level, developing far bigger and more efficient plants. Last year, Qatar produced about a third of all liquefied natural gas, although Australia and the United States have big export ambitions.
The National Environmental Policy Act stipulates that an impact assessment on the environment, archaeological and historic sites, as well as spaces considered sacred by Native Americans, must be completed prior to a land swap. However, under the NDAA 2015, Resolution Copper will be awarded the land 60 days after the required environmental impact statement has been completed. This raises questions about whether a fair assessment can be completed when Resolution Copper has already been awarded the land for the proposed copper mine.
Germany Breaks a Renewable Energy Record (Arthur Robey)
But Morris found the power mix a few days earlier even more encouraging. During the night of July 22, even with darkness reducing solar output to zero and no big winds in the forecast, renewables—wind, biomass, and hydropower—generated nearly 25 percent of Germany’s electricity.
This coastal ribbon of microscopic algae, up to 40 miles wide and 650 feet deep in places, is flourishing amid unusually warm Pacific Ocean temperatures. It now stretches from at least California to Alaska and has shut down lucrative fisheries. Shellfish managers on Tuesday doubled the area off Washington’s coast that is closed to Dungeness crab fishing, after finding elevated levels of marine toxins in tested crab meat.
Eric Rignot, a climate scientist at NASA and the University of California-Irvine and a co-author on Hansen’s study, said their new research doesn’t necessarily change the worst-case scenario on sea-level rise, it just makes it much more pressing to think about and discuss, especially among world leaders. In particular, says Rignot, the new research shows a two-degree Celsius rise in global temperature — the previously agreed upon “safe” level of climate change — “would be a catastrophe for sea-level rise.”
Gold & Silver
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."