Daily Digest

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Daily Digest 2/18 - Alberta's Inactive Wells, Merkel Might Lose After All

Saturday, February 18, 2017, 1:59 PM

Economy

Fed President Admits US Banks Have Only "Half The Equity They Need" (Adam)

Some of their investment decisions make sense. Others are completely idiotic, as we saw in the 2008 financial meltdown.

But the larger point is that banks don’t use their own money to make these investments. They use other people’s money. Your money.

‘The eurozone isn’t working’ - Alan Greenspan (lambertad)

Greenspan who governed the Fed between 1987 and 2006 has consistently been critical of the eurozone. He always said the eurozone was doomed to fail because the effect of the divergent cultures in the bloc has been grossly underestimated.

He once again defended the gold standard monetary system that was widely followed by economies around the world until the 1930s.

Considerations On Cost Disease (Sam D.)

I don’t know if there’s an equivalent of “test scores” measuring how well colleges perform, so just use your best judgment. Do you think that modern colleges provide $18,000/year greater value than colleges did in your parents’ day? Would you rather graduate from a modern college, or graduate from a college more like the one your parents went to, plus get a check for $72,000?

(or, more realistically, have $72,000 less in student loans to pay off)

11 Deeply Alarming Facts About America’s Crumbling Infrastructure (thc0655)

Once upon a time nobody on the entire planet could even come close to matching our infrastructure, but now our crumbling infrastructure has become a joke to much of the rest of the industrialized world. Sadly, this is just another symptom of our long-term economic collapse. We simply are not able to put as much of our money toward infrastructure as previous generations of Americans did, and as a result we have a giant mess on our hands. The following are 11 deeply alarming facts about America’s crumbling infrastructure…

What Trump Voters Know That The Democrat Elite Don't (Video) (Don R.)

Special Guest Mark Blyth explains his beliefs of neoliberalism in America.

Merkel Might Lose After All (Adam)

Last Monday, Merkel was sitting in the headquarters of the Christian Social Union (CSU), the Bavarian sister party to her CDU, looking as though she were a guest at her own funeral. Next to her was CSU head Horst Seehofer who, after months of castigating the chancellor for her refugee policy and threatening to withhold his support for her re-election campaign, had finally decided to back Merkel.

Central Banks Are Secretly Buying Up The World’s Corporations (Belmontl)

That is how “independent” central banks operate, but it evidently not the US central bank that is gambling in the stock market. After extensive quantitative easing, the Fed has a $4.5 trillion balance sheet; but this sum is accounted for as being invested conservatively in Treasuries and agency debt (although QE may have allowed Wall Street banks to invest the proceeds in the stock market by devious means).

Stock market rigging is no longer a ‘conspiracy theory’ (Belmontl)

The Journal provided lots of details that I won’t get into here. But the paper also presumed that all these central bank stock purchases were being done on the Tokyo market and that only the shares of Japanese companies were being rigged.

That’s not necessarily the case. The Bank of Japan — and other central bankers around the world — could easily be purchasing shares of American companies to help out the US stock market.

You’re about to see a big change to the sell-by dates on food (Adam)

These dates typically indicate one of two things: a message from the manufacturer to the grocery store, telling the store when the product will look best on shelves, or a subjective measure — often little more than a guess — of when consumers will most “enjoy” the product. Methods for setting those dates have been left to manufacturers, rather like the phrasing of the labels themselves. But when consumers see a date labeled “use by” (or, even worse, not labeled at all) they often tend to assume that it's a food-safety claim, regulated by some objective standard.

Alberta’s Growing $30-Billion Liability: Inactive Wells (westcoastjan)

“If a bankrupt company abandons a well site, the landowner may find themselves continuing to ‘host’ that well site, along with any environmental problems, for years, possibly even decades before it is reclaimed,” explained the report. “Sites requiring reclamation can suffer impacts to market value or landowner’s ability to sell the property for the duration of time it takes for that site to be reclaimed.”

Gold & Silver

Click to read the PM Daily Market Commentary: 2/16/17

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."

4 Comments

efarmer.ny's picture
efarmer.ny
Status: Bronze Member (Offline)
Joined: Jan 7 2012
Posts: 60
What's that smell?

I tested a new (to me) podcast out of Australia this weekend.

They interviewed Australian author Kate Grenville about her new book The Case Against Fragrance.

The short version is that the chemicals in manufactured fragrances (soaps, perfumes, etc.) are not being broken down or filtered out by water treatment facilities. As a result they are beginning to bioaccumulate. Some of the chemicals are hormone disrupters.

Kate wrote the book because she has had a chemical sensitivity to artificial fragrances through her life. She looked for a book that would help educate her about that and not finding one, she wrote it.

But surely we're protected by government testing and regulation? Unfortunately, it turns out that we aren't. There are no laws that make it compulsory to test fragrance ingredients for safety, so many of them are released onto the market without anyone knowing how they might affect us. The ingredients of a fragrance don't have to be fully declared on the label – they're exempt from truth-in-labelling laws because they're considered "trade secrets". And amazingly, the only regulator of the fragrance industry is the fragrance industry itself.

reflector's picture
reflector
Status: Gold Member (Offline)
Joined: Aug 20 2011
Posts: 269
protection
efarmer.ny wrote:

...

She looked for a book that would help educate her about that and not finding one, she wrote it.

Quote:

But surely we're protected by government testing and regulation? Unfortunately, it turns out that we aren't. There are no laws that make it compulsory to test fragrance ingredients for safety, so many of them are released onto the market without anyone knowing how they might affect us. The ingredients of a fragrance don't have to be fully declared on the label – they're exempt from truth-in-labelling laws because they're considered "trade secrets". And amazingly, the only regulator of the fragrance industry is the fragrance industry itself.

while she makes a good point about the dangers of exposing oneself to unknown chemicals, the last thing i would want is more of the government's "protection".

the government's laws aren't for the benefit of the people, they are for the benefit of those who own the lobbyists that lobby the lawmakers.

a sensible approach, might be just to not buy the company's product if they aren't willing to disclose what's in it, and to let them know why i won't buy their product.

Tall's picture
Tall
Status: Platinum Member (Offline)
Joined: Feb 18 2010
Posts: 564
reflector - this makes perfect sense

This makes perfect sense, to those who take time to think, who have been trained to think. Unfortunately, the world of human artifacts and products has become very complex. Many people are passive consumers who believe what they hear from those around them and what they see on television and look no further.

How do we ensure every citizen has the ability to discern modern day risks vs. benefits such as:  where does my energy come from, what is in my food, my water, my air, what is in my personal care product, my clothing dyes, my bathroom cleaner, my baby's mattress?

In my opinion, regulation plays a valuable role until every consumer is fully informed and can sort out what to expose themselves to and what to buy to minimize their health risks. 

reflector's picture
reflector
Status: Gold Member (Offline)
Joined: Aug 20 2011
Posts: 269
good question, tall

hi, tall

that's a good question.

in life there are no guarantees.

one has to make risk assessments all the time, and consciously decide what risks one is willing to take.

if i want to be mostly free from risk, the way to do it is to make my own power, grow my own food, make my own products.

slightly less safe would be to trade with people i know well and trust.

government "protection", whether it's the war on drugs, war on terror, war on poverty, or many other such schemes, is always a debacle, and it's not something i can support in good conscience. i simply don't trust the government regulators to do more good than the harm they are supposedly regulating against.

it's to the advantage of companies who want to maintain or grow their brand, to act honorably and honestly, and it's up to those of us who do business with them, to hold them to account.

there are such things as online product reviews, yelp reviews, angie's list, ebay feedback reputation, and similar systems to discriminate between the bad and the good, and i've found them to work quite well and i use them often.

i prefer this way of doing things because it's a peaceful solution, and doesn't involve a man with a badge and a gun imposing the lobbyists' will on non-consenting entities.

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