• Daily Digest

    Daily Digest 9/28 — Goldman Cuts China’s Growth Forecasts; Ford Announces $11.4bn Investment in Electric Vehicle Plants…

    by Whitney

    Tuesday, September 28, 2021, 9:31 AM

Economy

Goldman cuts China’s growth forecasts, citing power crunch as ‘yet another growth shock’ – CNBC

Goldman Sachs economists have cut their forecasts for China’s economic growth in 2021 as the world’s second-largest economy faces “yet another growth shock” in the form of constraints on energy consumption.

The Wall Street banking giant now expects China’s GDP to grow 7.8% in 2021 compared with a year ago — that’s lower than its previous forecast for an 8.2% year-on-year expansion. Goldman’s downgrade followed similar moves by Nomura and Fitch.

Farmers move to lock in inputs amid high prices, supply disruption: Rabobank – Grain Central

Widespread global disruption to supply is set to see Australian farmers again move to lock in fertiliser and other inputs early for the season ahead, Rabobank says in a recently-released report.  This is despite global fertiliser prices at near-decade highs and expected to remain elevated in the short to medium term.

In its semi-annual ‘Global Fertiliser Outlook: High prices to test demand’, Rabobank said global fertiliser prices had reached their highest level since 2012.  And while these price highs will “test demand”, this will be in the short term, with the “global fertiliser complex” expected to remain supported due to ongoing high commodity prices.

Rabobank’s senior agriculture analyst Wes Lefroy said this global backdrop was set to underpin high Australian nitrogen (urea) and phosphate prices until at “least the end of Q1 2022”, driving another year of early input purchases for many Australian growers.  And the challenges aren’t just confined to fertiliser, with global supply chain disruptions also impacting agri chemicals.

Why cash will be obsolete within a decade – Quartz

Central banks like the US Federal Reserve are printing more paper money than ever. But Cornell University economics professor Eswar Prasad, who published a new book on the future of money, thinks cash has outlived its usefulness.

Prasad’s book, The Future of Money: How the Digital Revolution is Transforming Currencies and Finance, is a sweeping survey of fintech, crypto assets, and central bank digital currencies (CBDCs). Prasad, who has also written books about the Chinese renminbi and the US dollar, says the research that went into writing it has made him an optimist about our digital future.

The Energy Crisis Is Sending Oil, Gas, And Coal Prices Soaring – Oilprice.com

Just ahead of the winter season, Europe’s natural gas crunch created a snowball effect in global energy markets. What started as very low gas inventories in Europe during the summer is now spilling over into oil, natural gas, and coal prices all over the world, with no quick fix or signs of a major short-term correction in sight.

Environment

Ford announces $11.4bn investment in electric vehicle plants – BBC

Ford has announced a major investment in electric vehicle (EV) production in the US, promising to build its biggest ever factory in Tennessee, and two battery parks in Kentucky.

Under the $11.4bn (£8.3bn) plan, the carmaker said it will build zero-emission cars and pickups “at scale” for American customers.  It will also create 11,000 jobs.

Race to the bottom: the disastrous blindfolded rush to mine the deep sea – Guardian

A short bureaucratic note from a brutally degraded microstate in the South Pacific to a little-known institution in the Caribbean is about to change the world. Few people are aware of its potential consequences, but the impacts are certain to be far-reaching. The only question is whether that change will be to the detriment of the global environment or the benefit of international governance.

In late June, the island republic of Nauru informed the International Seabed Authority (ISA) based in Kingston, Jamaica of its intention to start mining the seabed in two years’ time via a subsidiary of a Canadian firm, The Metals Company (TMC, until recently known as DeepGreen). Innocuous as it sounds, this note was a starting gun for a resource race on the planet’s last vast frontier: the abyssal plains that stretch between continental shelves deep below the oceans.

Health

A daily pill to treat Covid could be just months away, scientists say – Quartz

But the Kellys, who live in Seattle, had agreed just after their diagnoses to join a clinical trial at the nearby Fred Hutch cancer research center that’s part of an international effort to test an antiviral treatment on the unvaccinated that could halt Covid early in its course.

By the next day, the couple were taking four pills, twice a day. Though they weren’t told whether they had received an active medication or placebo, within a week, they said, their symptoms were better. Within two weeks, they had recovered.

“I don’t know if we got the treatment, but I kind of feel like we did,” Miranda Kelly said. “To have all these underlying conditions, I felt like the recovery was very quick.”

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8 Comments

  • Tue, Sep 28, 2021 - 11:33am

    #1
    westcoastjan

    westcoastjan

    Status: Platinum Member

    Joined: Jun 04 2012

    Posts: 1123

    5

    Paying restaurant owners off - more dirty tricks...

     

    Edit - removed the embedded pic as it was not very legible. This is what it said:

    "I talked to a restaurant owner that posted a vaxx proof to dine singe on his business. I asked him about his feelings regarding having an empty restaurant and losing business. He told me that they state pays him to stay open because he participates with the vaxx requirement sign, and if his sales go down they will pay him even more money. So he said he really doesn't care if people come or not...

    https://t.me/VancouverIslandFreedomAlliance/8542

    And a pox on all those SOBs who are taking the bribes!!! The line up to enter the gates of hell is going to be a exceedingly long...

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  • Tue, Sep 28, 2021 - 12:27pm

    #2
    Canuckian

    Canuckian

    Status: Silver Member

    Joined: May 27 2010

    Posts: 177

    1

    Paying restaurant owners off - more dirty tricks...

    Really?! That is truly insane and abhorrent. The Canadian government is morally and financially bankrupt.

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  • Tue, Sep 28, 2021 - 2:30pm

    #3
    sketchypoodle

    sketchypoodle

    Status: Member

    Joined: Dec 16 2020

    Posts: 23

    2

    sketchypoodle said:

    This one from the Health section -

    "
    A daily pill to treat Covid could be just months away, scientists say – Quartz"
    So Merck, creator of Stromectol/Ivermectin is now testing a new, less effective - but proprietary daily medication to treat covid.

    Are most people really this bad at parsing information?

    It just makes my head spin.

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  • Tue, Sep 28, 2021 - 6:05pm

    Pappy

    Pappy

    Status: Bronze Member

    Joined: Jun 29 2020

    Posts: 229

    10

    Most people...

    ...are fucking idiots.  Just spent the weekend at a small local music festival and I can't even talk to 95% of the people that I used to consider friends 2 years ago.

    I suppose I was just as ill informed and stupid as them prior to COVID.  Kinda glad I was knocked out of that mindset, just wish the whole freaking world didn't have to start on fire and go batshit crazy for me to see the light though.

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  • Tue, Sep 28, 2021 - 6:39pm

    #5

    thc0655

    Status: Platinum Member

    Joined: Apr 27 2010

    Posts: 2744

    5

    This marks the beginning of re-education camps for the unvaxxed.

    https://vladtepesblog.com/wp-content/uploads//2021/09/ON-Catholic-SB-Educational-session-for-vaccine-refusniks-27-Sept-2021.pdf

    “Happy Hunger Games! And may the odds be ever in your favor.”

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  • Tue, Sep 28, 2021 - 7:04pm

    Aquila Virtue

    Aquila Virtue

    Status: Member

    Joined: Sep 03 2021

    Posts: 23

    2

    Aquila Virtue said:

    - Hi Educator, I have a few questions about this Spartacus letter right here. Would you mind going over it in front of our beautiful classroom?

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  • Tue, Sep 28, 2021 - 7:57pm

    Matt Holbert

    Status: Bronze Member

    Joined: Oct 03 2008

    Posts: 125

    0

    Thanks for sharing this thc0655, I just sent an email to them...

    I've got to say that your message to the unvaccinated is one of the creepiest letters that I have seen in my 62 years. You folks need to step back and assess what you are doing. Are you unaware how this is a large step towards totalitarianism? Hopefully no one will take you up on your re-education camp.
    First there was Australia, now there is Canada and apparently the Catholic Church. Let's hope that critical thinkers prevail.

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  • Wed, Sep 29, 2021 - 6:25am

    blackeagle

    Status: Bronze Member

    Joined: May 16 2013

    Posts: 266

    0

    Daily pill...

    The whistleblower paragraph deserves some attention...

    link

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