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Daily Digest 7/30 - Forced Farm Work In Venezuela, Zika Transmissions Reach Miami

Saturday, July 30, 2016, 9:47 AM

Economy

Zika “active transmission area” in Miami, health department says (Michael W.)

“The department is actively conducting door-to-door outreach and urine sample collection in the impacted area and will share more details as they become available. The results from these efforts will help department determine the number of people affected. These local cases were identified by clinicians who brought them to the attention of the department. In addition, blood banks in the area are currently excluding donations from impacted areas until screening protocols are in place.”

Apollo Astronauts Experiencing Higher Rates Of Cardiovascular-Related Deaths (reflector)

This is the first study looking at the mortality of Apollo astronauts. The Apollo program ran from 1961 to 1972, with 11 manned flights into space between 1968 and 1972. Nine of those flew beyond Earth’s orbit into deep space. The program is most notable for landing men on the moon as well as the failed mission of Apollo 13 that inspired the popular 1995 Ron Howard film.

The Common Core Costs Billions And Hurts Students (jdargis)

Standardized tests are best at measuring family income. Well-off students usually score in the top half of results; students from poor homes usually score in the bottom. The quest to “close achievement gaps” is vain indeed when the measure of achievement is a test based on a statistical norm. If we awarded driver’s licenses based on standardized tests, half the adults in this country might never receive one. The failure rates on the Common Core tests are staggeringly high for black and Hispanic children, students with disabilities and English-language learners. Making the tests harder predictably depresses test scores, creating a sense of failure and hopelessness among young children.

BFI Insights: The Zulauf Perspective (Taki T.)

The recent Brexit vote has brought to light the widespread and growing public discontent with the establishment and presented real challenges and concerns over the future direction of the EU. Additionally, significant risks are arising from China, that could trigger another downturn for the world economy. These factors, combined with geopolitical tensions and systemic problems in Western economic structures, raise concerns that sometime within the next 3-4 quarters, and the years thereafter, we could see another major economic crisis beginning.

Is Bank of Japan signaling that it’s running out of ammo (lambertad)

Granted, some of the expectations heading into policy meeting were “pretty outlandish,” wrote analysts at Daiwa Capital Markets, ranging from further rate cuts, to an increase in asset purchases and even the introduction of “helicopter money”—a term referring to central bank financing of additional fiscal stimulus. Kuroda, in a BBC interview aired earlier this month, had attempted to steer investors away from the prospect of helicopter money.

Venezuela's new decree: Forced farm work for citizens (lambertad)

Venezuela once had a robust agricultural sector. But under its socialist regime, which began with Hugo Chavez in 1999, the oil-rich country started importing more food and invested less in agriculture. Nearly all of Venezuela's revenue from exports comes from oil.

With oil prices down to about $41 a barrel from over $100 about two years ago, Venezuela has quickly run out of cash and can't pay for its imports of food, toilet paper and other necessities. Neglected farms are now being asked to pick up the slack.

Climate Change Activism: A Post Mortem (Michael W.)

The last gasp of climate change activism, the COP-21 conference in Paris late last year, resulted in a toothless agreement that binds no nation anywhere on earth to cut back on the torrents of greenhouse gases they’re currently pumping into the atmosphere. The only commitments any nation was willing to make amounted to slowing, at some undetermined point in the future, the rate at which the production of greenhouse gas pollutants is increasing. In the real world, meanwhile, enough greenhouse gases have already been dumped into the atmosphere to send the world’s climate reeling; sharp cuts in greenhouse gas output, leading to zero net increase in atmospheric CO2 and methane by 2050 or so, would still not have been enough to stop extensive flooding of coastal cities worldwide and drastic unpredictable changes in the rain belts that support agriculture and keep all seven billion of us alive. The outcome of COP-21 simply means that we’re speeding toward even more severe climatic disasters with the pedal pressed not quite all the way to the floor.

From droughts to contamination, our water supply is precarious (jdargis)

Here in the desert Southwest, lack of water is not the only threat we face within the Rio Grande-Albuquerque watershed. Contamination is as serious a concern as it is for the residents of Flint. Just a few years ago it was revealed that the Kirtland Airforce Base has been aware of a massive leak of jet fuel since as early as 1999. Albuquerque sits directly atop of an aquifer, leaving it particularly vulnerable to contamination.

Gold & Silver

Click to read the PM Daily Market Commentary: 7/28/16

Provided daily by the Peak Prosperity Gold & Silver Group

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12 Comments

saxplayer00o1's picture
saxplayer00o1
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Posts: 4064
Chicago needs $1 billion more annually to cover pensions

Debt specialist: Chicago needs $1 billion more annually to cover ...

Illinois News Network-5 hours ago
One expert said Chicago taxpayers would need to shell out $1 billion more every year to improve the city's credit rating. Moody's Investors Service Director ...

Chicago's budget gap: $137.6 million

Crain's Chicago Business - ‎19 hours ago‎
To do so, it began increasing debt-service payments with this year's budget. For 2017, corporate fund revenues are expected to decline by less than two percent, to $3.51 billion, while expenditures rise by 2.9 percent, to $3.65 billion. In a preface to ...

Cash-strapped Chicago schools pay big premium in $150 million ...

Reuters-18 hours ago

... bonds in the municipal market's last big junk bond sale - a $3.5 billion Puerto ... CPS faces a lingering $300 million deficit for the fiscal year that began Ju

More Defaults Likely to Come: What Puerto Rico Owes on Aug. 1

Bloomberg-22 hours ago
1, most of which goes toward repaying sales-tax supported debt. The deadline follows the island's July 1 default on nearly $1 billion of principal and interest, the ...
 

Oregon's unfunded PERS liability climbs to $21.8 billion

Oregon Catalyst-Jul 29, 2016
Oregon's unfunded PERS liability climbs to $21.8 billion. by In the ... leaders to work together to find a fair, constitutional solution to Oregon's growing PERS debt.

Poor pension returns to cost New York City $700 million

Crain's New York Business (blog)-10 hours ago
After earning only 1.5% on its pension funds for the 2017 fiscal year ended June ... Pension costs now account for 11% to 12% of all spending and one in every ...

 

Time2help's picture
Time2help
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Tall's picture
Tall
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Posts: 564
World Carbon Producers Face Landmark Rights Case

The world’s largest oil, coal, cement and mining companies have been given 45 days to respond to a complaint that their greenhouse gas emissions have violated the human rights of millions of people living in the Phillippines.

http://www.climatecentral.org/news/worlds-carbon-producers-face-landmark...

Tall's picture
Tall
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Where are the world’s most water-stressed cities?

 

More than 2.5 billion people don’t have access to basic levels of fresh water for at least one month each year – a situation growing ever more critical as urban populations expand rapidly
 
https://www.theguardian.com/cities/2016/jul/29/where-world-most-water-stressed-cities-drought
pinecarr's picture
pinecarr
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More good news!

ZH: "

Ireland Jails 3 Top Bankers Over 2008 Collapse... Instead Of Bailing Them Out"

Submitted by Carey Wedler via TheAntiMedia.org,

By means that could be termed dishonest, deceitful and corrupt, they manufactured 7.2 billion euros in deposits by obvious sham transactions,” Judge Martin Nolan of Ireland said as he convicted three top bankers on Friday for their role in the 2008 financial crisis. They are among the first in the world to be sent to prison for their involvement in the global meltdown eight years ago.

The longest-ever criminal trial in Ireland lasted 74 days and led to convictions for former Irish Life and Permanent Bank Chief Executive Denis Casey; former finance director at the failed Anglo Irish Bank, Willie McAteer; and former head of capital markets at the Anglo Irish Bank, John Bowe. They received sentences ranging between two-and-a-half to three-and-a-half years.

As light as those sentences may seem considering the dire effect bankers’ actions had on the Irish economy, U.S. and English bankers have evaded convictions altogether. Though banks in those countries have since paid out billions of dollars in settlements to regulators for their role in the 2008 crash, no one from those companies has been sentenced to prison.

Reference: http://www.zerohedge.com/news/2016-07-30/ireland-jails-3-top-bankers-ove...

Luke Moffat's picture
Luke Moffat
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Agression Displacement and Overcrowding

More fascinating incites from Robert Sapolsky's human behaviour lectures.

In brief, he's surmising the research on aggression patterns and trigger mechanisms. In particular, feeling pain or frustration causes your glucocorticoid* levels to rise and, if you're predisposed to violence, lashing out at someone else causes your glucocorticoid to recede. Yep, that's right, it's observed that frustrated rats and primates resort to violence as a form of stress relief.

The second point concerns overcrowding - namely overcrowding amplifies behavioural types. So if you're averse to conflict that trait becomes more pronounced, whereas if you're aggressive that trait becomes more pronounced. Fascinating and depressing in equal measure.

Section can be viewed from 20:25 - 26:20

 

* glucocorticoid - any corticoid substance that increases gluconeogenesis, raising the concentration of liver glycogen and blood sugar

robie robinson's picture
robie robinson
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HDPS

One more reason to avoid High Density Population Settings!

 

robie robinson's picture
robie robinson
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HDPS

One more reason to avoid High Density Population Settings!

 

robie robinson's picture
robie robinson
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Joined: Aug 25 2009
Posts: 1148
HDPS

One more reason to avoid High Density Population Settings!

 

Luke Moffat's picture
Luke Moffat
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How did I not know this?

More gems from Robert Sapolsky; Gulf War 1990 - 1991 and the false testimony that convinced US Congress to come to the aid of Kuwait against Iraq and Saddam. More specifically the Nayirah Testimony

Here's the snippet from Robert Sapolsky (sections 58:50 - 1:02:00)

The details - an American Public Relations company, Hill & Knowlton, deliberately hired Nayirah to lie to US Congress on the false pretense that when Iraqi soldiers invaded Kuwait they would go into hospitals and remove new born babies from their incubators and leave them on the floor to die. The problem? It was totally false. Niyarah was actually the daughter of the Kuwaiti ambassador to the United States. Here is her testimony;

Wiki describes the effect of her statement;

Quote:

Seven senators cited Nayirah's testimony in their speeches backing the use of force. President George Bush repeated the story at least ten times in the following weeks.

Incredible

saxplayer00o1's picture
saxplayer00o1
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'Helicopter money' talk takes flight as Bank of Japan runs out o

'Helicopter money' talk takes flight as Bank of Japan runs out of runway

The Japan Times-2 hours ago
In the event, the BOJ made what economists called a token response by increasing its purchase of exchange-traded funds to ¥6 trillion, but it resisted pressure to ...

The £1 trillion pension crisis facing 11m (and they're the lucky ones)

Telegraph.co.uk-7 hours ago

It comes as these “final salary” schemes are registering their biggest ever funding shortfall, now at almost £1 trillion (£1,000bn). This sum is the gap between the ..

Bank of England poised to slash growth forecast by biggest margin ...

Telegraph.co.uk-19 hours ago
mark carney Economists expect the Bank and Government to unveil a revamped Funding for Lending programme, providing cheap loans for banks that lend to ...

Rise in consumer debt could leave households in trouble in ...

Mirror.co.uk-15 hours ago
A boom in borrowing could push households to the brink post- Brexit , a leading debt charity warns. Consumer credit rose by another £1.8billion last month, ...

Oil giants can't hide from doomsday market

The Detroit News - ‎13 hours ago‎
Crude prices dropped during the quarter from a year ago amid a global glut in the $1.5 trillion-a-year market. With diesel and gasoline prices also slumping, the companies were deprived of the tempering effect oil refining typically provides during ...

Why the EU stress test is a farce and the Eurozone is set to ...

Express.co.uk-20 hours ago
EU lenders have amassed some 1.7 trillion euros in Non Performing Loans (NPLs), with Italian banks accounted for 360billion euros of that nightmare. How did ...

Saudi Arabia Said to Have Offered $4 Billion to Banks

Bloomberg-59 minutes ago
Saudi Arabia's central bank offered lenders short-term loans in late June to help ease liquidity constraints, according to five people familiar with the matter.

Ontario's $300 billion in debt explained

Toronto Sun-14 hours ago
In a recent report, Financial Accountability Officer Stephen LeClair said Ontario's net debt will reach $350 billion by 2020-21. He warned this province's debt ...

PERS: Oregon's public pension costs will go up $885M next year

OregonLive.com-15 hours ago
Schools, cities, state agencies and other public employers across Oregon will have to pony up an extra $885 million next biennium to fund the state's public ...

 

Commentary: Illinois deep in unfunded obligations

Jacksonville Journal Courier-4 hours ago

During the same period, the state collected roughly $35.9 billion in general ... Th

MarkM's picture
MarkM
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Thanks, Luke. I did not know

Thanks, Luke. I did not know this, either. Headed outside now to find a distraction.

http://billmoyers.com/2014/06/27/the-first-iraq-war-was-also-sold-to-the-public-based-on-a-pack-of-lies/

 

Luke Moffat wrote:

More gems from Robert Sapolsky; Gulf War 1990 - 1991 and the false testimony that convinced US Congress to come to the aid of Kuwait against Iraq and Saddam. More specifically the Nayirah Testimony

Here's the snippet from Robert Sapolsky (sections 58:50 - 1:02:00)

The details - an American Public Relations company, Hill & Knowlton, deliberately hired Nayirah to lie to US Congress on the false pretense that when Iraqi soldiers invaded Kuwait they would go into hospitals and remove new born babies from their incubators and leave them on the floor to die. The problem? It was totally false. Niyarah was actually the daughter of the Kuwaiti ambassador to the United States. Here is her testimony;

Wiki describes the effect of her statement;

Quote:

Seven senators cited Nayirah's testimony in their speeches backing the use of force. President George Bush repeated the story at least ten times in the following weeks.

Incredible

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