Daily Digest

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Daily Digest 6/3 - The Addicts Next Door, Could California Be The Next Puerto Rico?

Saturday, June 3, 2017, 10:57 AM

Economy

The Addicts Next Door (jdargis)

It’s simplistic to trace the town’s opioid epidemic directly to the loss of industrial jobs. Nevertheless, many residents I met brought up this history, as part of a larger story of lost purpose that has made the town vulnerable to the opioid onslaught. In 2012, Macy’s opened a distribution center in the Martinsburg area, but, Knowles said, the company has found it difficult to hire longtime residents, because so many fail the required drug test. (The void has been filled, only partially, by people from neighboring states.) Knowles wonders if Procter & Gamble, which is opening a manufacturing plant in the area this fall, will have a similar problem.

Borrowing to fund pensions could make California the next Puerto Rico (yogmonster)

During the same fiscal year, CalPERS suffered a loss of 24%. Had the state borrowed $6 billion (the amount recently proposed by Brown) to invest in CalPERS in June 2008, almost $1.5 billion of that would have been wiped out. It would take several years of above-average returns to make up for such a large loss.

Gold, Silver Or Bitcoin-Crypto Currencies: Where Will The Big Money Be Made? (yogmonster)

This was very interesting analysis done by Charles Hugh Smith who is one of the more bright minds in the alternative media community. I have watched Bitcoin out of the corner of my eye over the past few years, but have not placed much attention on the leading crypto-currency. However, as the price of Bitcoin and crypto-currencies have surged over the past several months, I decided to take a closer look… to see what all the hubbub was about.

Hidden Away for 28 Years, Tiananmen Protest Pictures See Light of Day (jdargis)

But like many provincial sympathizers of the swelling movement, Mr. Chen was not content to stay put. He joined a tide of students who crammed onto trains to Beijing and camped on Tiananmen Square, Mr. Chen said in an interview from San Francisco, where he now lives and runs restaurants. (He asked to use his English personal name to protect his family in China from possible repercussions.)

Silver and NASDAQ Strength Will Reverse (GE Christenson)

Prices for stocks and silver rise, primarily because of currency devaluations. The two markets often offset each other, which suggests we should look at their sum. Examine 32 years of the NASDAQ 100 plus 175 times silver prices, which gives both markets roughly equal weight.

The Watson Files (jdargis)

For years after the kidnapping, the small cadre of environmentalists still working in Somalia had assumed that decades’ worth of scientific knowledge compiled by Watson had also been lost. Without vital land surveys that vanished during the civil war, it would be hard to determine precisely how or at what rate the country’s climate was changing — and therefore difficult to design measures that could limit the damage. But a recent discovery, made more than 4,000 miles away in Britain, has suddenly resurrected the possibility of continuing Watson’s environmental work. It has also revealed the extent to which his legacy may be intertwined with the fate of Somalia itself.

Canada Pushes For Zero Emission Vehicle Strategy (Michael K.)

The province of Quebec, and Canada overall, have been influenced by California’s zero emission vehicle policy tied into hitting greenhouse gas emissions reductions in part through the state’s low carbon fuel standard. That guideline is based on reducing carbon emissions in vehicles 10 percent by a given timeline. It’s considered to be technology and fuel neutral, allowing stakeholders to choose their own alternative fuels to meet the requirement. Electric vehicles have been the leading technology in California to meet mandates on emissions reductions.

Food poisoning warning: Hepatitis E found in European pig products (jdargis)

Its scientists added there was “a trend towards more severe and prolonged illness”.

A joint Food Standards Agency and European Food Safety Authority workshop has found that there are up to 100,000 foodborne HEV infections a year in England alone – most of which are not recognised.

Gold & Silver

Click to read the PM Daily Market Commentary: 6/2/17

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

ejhr's picture
ejhr
Status: Bronze Member (Offline)
Joined: Jun 28 2014
Posts: 34
Borrowing to fund pensions

California cannot borrow to fund pensions. It's chasing its tail doing that. As obligations rise so borrowing and the debt rises. This is a stupid idea, as the author understands.

No, only the Federal Government can step in. It is the monetary sovereign entity which can fund any and every pension obligation at whatever moment one arises. It can never go broke and never needs to save or borrow. It can choose to if Congress wants, but all that does is point out the idiocy of politicians badly schooled in economics!

ejhr's picture
ejhr
Status: Bronze Member (Offline)
Joined: Jun 28 2014
Posts: 34
Borrowing to fund pensions

California cannot borrow to fund pensions. It's chasing its tail doing that. As obligations rise so borrowing and the debt rises. This is a stupid idea, as the author understands.

No, only the Federal Government can step in. It is the monetary sovereign entity which can fund any and every pension obligation at whatever moment one arises. It can never go broke and never needs to save or borrow. It can choose to if Congress wants, but all that does is point out the idiocy of politicians badly schooled in economics!

ejhr's picture
ejhr
Status: Bronze Member (Offline)
Joined: Jun 28 2014
Posts: 34
Borrowing to fund pensions

California cannot borrow to fund pensions. It's chasing its tail doing that. As obligations rise so borrowing and the debt rises. This is a stupid idea, as the author understands.

No, only the Federal Government can step in. It is the monetary sovereign entity which can fund any and every pension obligation at whatever moment one arises. It can never go broke and never needs to save or borrow. It can choose to if Congress wants, but all that does is point out the idiocy of politicians badly schooled in economics!

ejhr's picture
ejhr
Status: Bronze Member (Offline)
Joined: Jun 28 2014
Posts: 34
SORRY ABOUT THE REPEATS.

SORRY ABOUT THE REPEATS.

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