Daily Digest

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Daily Digest 10/11 - Haiti Risks 'Real Famine', Is The Era Of Cheap Natural Gas Over?

Tuesday, October 11, 2016, 10:20 AM

Economy

Skip a generation when passing on homes, says housing minister (Uncletommy)

The MP for Croydon Central, who owns a £750,000 house three miles from his mother’s, said the decision could help to reduce intergenerational financial inequities. “Generally in life we all like to think that our children are going to be better off than us. In terms of new technology and life expectancy, they are going to be,” he told a fringe meeting at the Conservative party conference in Birmingham last week.

“But at the moment, as things stand, they are less likely to own their own home and we need to do something about that.”

The Truth About the War in Aleppo (Kathleen P.)

So now comes the U.S. Army’s chief of staff, General Mark Milley, doing his best imitation of Curtis LeMay in a recent speech dripping with bellicosity. While America has no industrial state enemy left on the planet that can even remotely challenge its economic might, technological superiority and overwhelming military power, General Milley unloaded a fusillade of bluster at the Association of the United States Army’s annual meeting in Washington DC:

I'm an Anti-Putin Russian and Clinton Makes Me Nervous (jdargis)

The last time an independent polling organization -- the Levada Center -- polled Russians on the U.S. presidential candidates was in August. Only 12 percent said they were following the election closely, and 73 percent said they'd heard something about it. Among the news junkies, 39 percent said Donald Trump would be a better U.S. president for Russia, while 15 percent said Clinton would be better. The state-owned pollster, VTsIOM, did its latest poll in July, finding about the same proportion of curious Russians. That survey revealed that 34 percent of those who'd heard of Trump thought Russia-U.S. relations would improve under him; only 6 percent of those who'd heard about Clinton believed that of her.

Britain’s Economy Was Resilient After ‘Brexit.’ Its Leaders Learned the Wrong Lesson. (jdargis)

The British pound fell to about $1.24 on Friday from $1.30 a week earlier and continued edging down Monday. Even if you treat a “flash crash” in the pound on Asian markets Thursday night as an aberration — it fell 6 percent, then recovered in a short span — these types of aberrations seem to happen only when a market is already under severe stress. (See, for example, the May 2010 flash crash of American stocks, during a flare-up of the eurozone crisis).

A Real Threat To The Economy (Tiffany D.)

The creditors who are owed the world’s debt — the world’s top bankers — are among the richest people on the planet … the top 0.01%. Most of that wealth is in the form of shares of the financial institutions they run. The market capitalization of those institutions is in turn determined by how well the bankers play the game of money creation. The more money they can conjure by speculating on other people’s debt, the bigger the bankers’ fortunes.

Is The Era Of Cheap Natural Gas Over? (Josh O.)

But a funny thing happened: instead of a subsequent crash in natural gas production as drillers pulled rigs from the field, output continued to rise, setting new records along the way. Part of that had to do with impressive advancements in drilling technologies and techniques, allowing companies to extract more gas for less money and with less effort. Another reason that gas output kept climbing was because a lot of gas is produced in conjunction with oil. The drilling frenzy for shale oil ensured that the gas kept flowing.

Spoiler Alert (jdargis)

Making that determination is harder than ever. An estimated 48 million Americans become sick each year because of something they ate. Annually, over 3,000 die because of contaminated food. Both numbers are projected to rise in the coming decade, along with our reliance on imported food. And here’s the irony: A big reason for that increase is that we’ve developed healthier eating habits. On average, we eat 14 percent more fruits and vegetables than we did in 1970. We’re eating beet greens with bee pollen and drinking kale-and-date smoothies. And those foods — which is to say fresh foods — are the very hardest to police, particularly when they come from overseas.

Hurricane Matthew: Haiti risks 'real famine', says interim president (jdargis)

It comes as UN Secretary General Ban Ki-moon called for a "massive response" to help the country.

The category-four storm is believed to have killed as many as 900 Haitians.

Gold & Silver

Click to read the PM Daily Market Commentary: 10/7/16

Provided daily by the Peak Prosperity Gold & Silver Group

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Time2help
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Debate 2016

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Poet
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Clinton and Trump Duet: Time of My Life

If only...

Poet

 

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