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    Daily Digest 8/6 – The Invention Of Money, Food vs. Fuel vs. Forests

    by Daily Digest

    Tuesday, August 6, 2019, 8:28 AM


Economy

Uproar as India abolishes Kashmir’s special autonomy (Sparky1)

There were already growing fears among Kashmiris that the special status would be ditched after Modi’s Bharatiya Janata Party (BJP) obtained a large parliamentary majority in recent elections.

His party had vowed to fulfil a long-held promise to scrap the laws, and many fear New Delhi wants to change the region’s demographics by allowing non-Kashmiris, mostly Hindus, to buy land locally.

USA Today owner Gannett merges with GateHouse Media to form massive newspaper company (Sparky1)

The merger will result in an estimated annual savings of approximately $275 to $300 million, the companies said in a press release. Mergers and acquisitions of newspapers in recent years have typically resulted in layoffs in both the newsroom and on the business side. The combination of two big public companies can help the new company save on technology and human resources, and accelerate its “digital transformation,” the press release said.

India signs USD700 million deal with Russia for 1,000 additional air-to-air missiles (Sparky1)

The AAM procurements are being carried out under the recently enhanced financial powers of the three services, which enable them to make ‘emergency’ materiel purchases of up to INR5 billion (USD72.7 million) each time to maintain prescribed war wastage reserves.

The Invention Of Money (jdargis)

The great irony of Law’s life is that his ideas were, from the modern perspective, largely correct. The ships that went abroad on behalf of his great company began to turn a profit. The auditor who went through the company’s books concluded that it was entirely solvent—which isn’t surprising, when you consider that the lands it owned in America now produce trillions of dollars in economic value.

The Fatal Flaw in How We Organize (Phil D.)

All your life, you were conditioned to it by repetition. Well, why is it that we need growth? Are we a cancer on the Earth? The pessimists among you hear bells… cancer it is, Alex!

The reason we “need” this economic growth is that our money system requires it. It’s a feature built into the way we organize.

Fourth Turning Economics (thc0655)

After campaigning as if he would be a fiscally responsible president, Trump has been a disappointment regarding the budget. His “best economy ever” is nothing but a government spending driven, low interest rate, stock market boosting bubble. After promising to eliminate the debt during the campaign and railing against the low interest rate driven stock market bubble, Trump and the Republicans have added $2 trillion to the national debt, thus far.

Hold the Teddy Bears and Candles (thc0655)

I’m not persuaded that a ban on gun sales will do anything to prevent more of these deadly episodes because there are already too many firearms loose in America. But it is probably necessary to make some kind of statement, say a ban on military-type weapons, and I rather expect that will happen. But the political process of recognizing what really ails this society is mired in bad faith, idiocy, and neuroticism. And the political actors are signaling their ineptitude clearly, which only adds to the sweeping demoralization of everybody else.

‘Urgent Resolve’ to Fight Domestic Terrorism Faces Tall Legal Obstacles (tmn)

Even just prioritizing domestic investigations would mean rethinking two decades of law enforcement strategy. Domestic terrorism represents only about 20 percent of F.B.I. terrorism cases. Some field offices do not even have a stand-alone squad dedicated to investigating it.

Political blame for mass shootings is not a solution (thc0655)

We in the media have a role to play in all of this. News organizations would best serve the public by sticking to the facts and the news. Speculation should be minimized. This can be tough in the 24/7 breaking-news environment, with so many wanting to be the first to report significant details and with so many hours to fill while we await the facts. But the truth is, in the early moments and hours after a shooting — or any tragedy — the rumors and initial reports almost always turn out to be replete with errors. Information that is presented confidently as fact often turns out to be incorrect.

Lack of USAF tanker, airlift capacity causes concern over potential conflict in Pacific (Sparky1)

The USAF has had a shortage of cargo aircraft and tankers for the last 20 years and is specifically lacking capacity of the Boeing KC-135R Stratotankers and McDonnell-Douglas KC-10A Extender tankers. It is also short in cargo aircraft such as the Lockheed Martin C-5M Super Galaxy, Boeing C-17 Globemaster IIIs, and Lockheed Martin C-130J Hercules according to an airpower expert.

Oil Needs To Be Below $20 To Compete With Electric Cars (Michael S.)

Despite the stark warning to the oil industry, BNP Paribas Asset Management’s report says that the “oil industry today enjoys a massive scale advantage over wind and solar of several orders of magnitude – oil supplied 33% of global energy in 2018 compared with only 3% from wind and solar. Moreover, EVs are currently more expensive than ICE and diesel vehicles on a sticker-price basis, and likely to remain so until 2023-25.”

Ecological land grab: food vs fuel vs forests (Sparky1)

Meanwhile, the fundamental drivers of Earth’s environmental meltdown — CO2 and methane emissions, nitrogen and plastics pollution, human population, unbridled consumption — continue to expand at record rates, further reducing our margin for manoeuvre.

Quarter of world’s population facing extreme water stress (Sparky1)

“The recent water crisis in Chennai gained global attention, but various areas in India are experiencing chronic water stress as well,” said Shashi Shekhar, India’s former water secretary, adding that the tool could help authorities identify and prioritize risks.

Gold & Silver

Click to read the PM Daily Market Commentary: 8/5/19

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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