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Daily Digest 2/20 - These Are Times Of General Corruption, Pacific Islands Abandon Junk Food

Monday, February 20, 2017, 11:28 AM

Economy

These Are Times Of General Corruption (Don R.)

The crux of the problem is the huge imbalance between corporate power and the ability of worker's to achieve increasing wages. Without increasing wages, broader aggregate demand in the form of consumption cannot be sustained.

It was sustained during a long period of wage stagnation by innovative debt instruments associated with the housing bubble that was greatly encouraged by the financial sector and their servants in the political and professional classes. The fraud which they helped to perpetuate was conscious and pre-meditated. The crafted specific financial offerings towards that purpose.

Gotterdammerung (James W.)

In a few years, when the Berlin wall came crashing down and the Red Army withdrawn from Eastern Europe, these confident leaders of a once mighty military and political bloc would fall from power amid massive street protests. The collapse of the Soviet Union and its external empire was an end of a world order based on the ideology of Communism. Perceptive observers of the Soviet bloc had noticed for years the crumbling of its foundations and there were a number of individuals who successfully predicted the collapse of the Soviet world order. Yet, with hindsight, it is sobering to note that few foresaw the possibility that the Soviet “house of cards” could and did come crashing down.

Yellen Can't Halt Trump Gold Rally That Funds Bet Against (Adam)

Investors don’t seem convinced that Yellen will follow through. Fed fund futures data on Friday showed bets reflecting a 34 percent chance of a rate increase in March. That was unchanged from Feb. 14, the day of Yellen’s Senate testimony. Gold traders and analysts surveyed by Bloomberg remained bullish on the price outlook for an eighth week, the longest run in data going back to April 2015.

Angela Merkel says Europe must take MORE refugees and Islam 'isn't source of terror' (LesPhelps)

She will go to the polls in September against Social Democrat candidate Martin Schulz, the former European Parliament President.

On Putin, she said Europe's ties with Russia remained challenging, but it was important to work with them in the fight against Islamist terrorism.

Pope Fancis: 'Muslim Terrorism Does Not Exist' (LesPhelps)

We know “what happens when we deny science and disregard the voice of Nature,” the Pope said. “Let us not fall into denial. Time is running out. Let us act. I ask you again—all of you, people of all backgrounds including native people, pastors, political leaders—to defend Creation.”

While acknowledging that science is not “the only form of knowledge,” and that “science is not necessarily ‘neutral’” and often “conceals ideological views or economic interests,” he still insisted that people of good will should not oppose “scientific consensus” regarding global warming.

‘Last Night in Sweden’? Trump’s Remark Baffles a Nation (jdargis)

During a campaign-style rally on Saturday in Florida, Mr. Trump issued a sharp if discursive attack on refugee policies in Europe, ticking off a list of places that have been hit by terrorists. “You look at what’s happening,” he told his supporters. “We’ve got to keep our country safe. You look at what’s happening in Germany, you look at what’s happening last night in Sweden. Sweden, who would believe this?”

Not the Swedes. Nothing particularly nefarious happened in Sweden on Friday — or Saturday, for that matter — and Swedes were left baffled.

The Strange Case Of The Russian Diplomat Who Got His Head Smashed In On Election Day (jdargis)

Despite being described as a Manhattan resident by the NYPD, Krivov is a phantom in public records. No one with his name, or any iteration of it, has lived in Manhattan for years, and the only other two Krivovs listed in New York state didn’t return calls asking if they knew a Sergei (in the NYPD’s files, Krivov’s name is not transliterated as “Sergei” or “Sergey” but as the less common “Cergej”). Neither were listed as related to one. An NYPD officer looking at the case file told BuzzFeed News no family was listed.

The NYPD told BuzzFeed News the responding officers were in contact with “whoever was in charge of the consulate” for information regarding Krivov.

The Shift Towards Renewables Is Picking Up Pace (Michael K.)

“We believe all Australians should have reliable, affordable energy,” EnergyAustralia’s Tanna said in the letter that was printed for the full-page advertisements. “However, the way we generate, deliver and use energy has to change and I’m determined EnergyAustralia will live up to its responsibility.”

Engineers have known for decades that Oroville’s backup spillway was unreliable (jdargis)

“The emergency spillway remained basically a dirt, soil rock facility, and it worked fine until it had to be used, in which case it didn’t work so well,” said U.S. Rep. John Garamendi, D-Walnut Grove.

As Obesity Rises, Remote Pacific Islands Plan to Abandon Junk Food (Adam)

>Mr. Dini said the pending ban was an effort to promote local agriculture and a response to an increase in diabetes and other diseases that council members have observed in Vanuatu’s capital, Port-Vila. Passing a more comprehensive ban on junk food imports to Torba could take at least two years, he added, and a final decision on which products to ban would be made by the national government.

Gold & Silver

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

Provided daily by the Peak Prosperity Gold & Silver Group

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