Daily Digest

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Daily Digest 6/11 - Canada’s Middle Class On The Brink of Ruin, Where's Your Gold?

Sunday, June 11, 2017, 9:49 AM

Economy

Canada’s Middle Class Is on the Brink of Ruin (jdargis)

But when they returned from Mauritius, Kervin found that his boss had lost a major client and could no longer afford to keep Kervin on the payroll. The couple moved to their current home in Surrey, where they rent-to-own for $1,700 a month. January passed without work, then February. Kyra returned to a full-time job as a sales coordinator. But with Kervin still unemployed, the rest of his savings ­evaporated. “Rent, groceries—everything is costly,” says Kervin. “You get your paycheque, and you don’t know where it goes.”

DeVos Says More Money Won't Help Schools; Research Says Otherwise (jdargis)

Last year, as part of the School Money project, the NPR Ed Team collaborated with 20 reporters across the country to explore how states pay for their schools and to answer some fundamental questions, including this one: "Can More Money Fix America's Schools?"

With that very question back in the headlines, we thought we'd revisit what we came up with.

The Scripting of the New World Order Narrative (westcoastjan)

Zakaria’s reference to the post-war dismantling has everything to do with the reserve role given to the US dollar under Bretton Woods. The dominance of the USD for eight decades has contributed to the evolution of economic and governance policies which served as an extension of the political, industrial and academic interests of the Anglo-American establishment.

Where's Your Gold? (Tiffany D.)

Demand for physical gold is on the rise. The World Gold Council revealed that while overall gold demand for the first quarter dropped 18% from the same period a year ago (where the 2016 first quarter was the strongest first quarter ever for gold demand), gold bar and coin demand increased by a healthy 9% at 290 tons.

The dark psychology of dehumanization, explained (jdargis)

Thousands of years ago, humans would have felt a pang of anxiety when they saw the silhouette of a foreign tribe marching over a hill. We still have that anxiety inside of us today. Often “people’s spontaneous, knee-jerk reactions to other people who are dramatically different from them is negative,” says Susan Fiske, a psychologist at Princeton University and a leading expert on prejudice. This is especially true when we have quick, minimal exposure to them — as we do today via the media. These thin slices activate the us-versus-them conflict encoded in our minds since the dawn of humanity.

Seizing on Opioid Crisis, a Drug Maker Lobbies Hard for Its Product (jdargis)

Not a single study has been completed comparing Vivitrol to its less expensive competitors. Some studies have shown high dropout rates, or found that many participants return to opioid use while taking Vivitrol or after going off it. In one study that the company used to secure the Food and Drug Administration’s approval of Vivitrol for opioid addiction treatment, conducted with 250 patients in Russia, nearly half of those who got Vivitrol failed to stay abstinent over a six-month period, although they stayed abstinent and in treatment longer than those who got a placebo.

The Internet needs paid fast lanes, anti-net neutrality senator says (jdargis)

"As chairman Pai said, net neutrality is a slogan," Johnson said. "What you really want is an expansion of high-speed broadband, and in order to do that you have to create the incentives for those smaller ISPs to invest. They don’t really control their own fiber if the government tells them exactly how they’re going to use their investment."

Pipes at 1,291 Homes Replaced So Far through Mayor Weaver’s FAST Start Initiative (jdargis)

To be eligible to have service line replacements, residents must have an active water account. They also must have signed a consent card giving permission for the work to be done. In rental homes, both the owner and the tenant must sign consent cards. Residents are urged to sign the consent cards as soon as possible so crews can replace their service lines.

Gold & Silver

Click to read the PM Daily Market Commentary: 6/9/17

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."

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Martin Armstrong: Illinois in Deep Doodoo

Illinois in Deep Financial Trouble

Illinois Comptroller Susana Mendoza was ordered to make a “substantial” dent in a $2 billion backlog of bills owed to Medicaid providers. The courts ruled that according to the State Constitution, it cannot reduce the pension payments to state employees. What is happening in Illinois is indicative of how governments are imploding and why I am warning get out of all State and Muni-debt before it is too late. Since State and local governments cannot “print” (create) money, they are forced to borrow and raise taxes. Consequently, they have hit the ceiling in tax resistance. What is happening is people are gradually migrating because there is absolutely no hope for states like Illinois. The only way out will have to be bankruptcy and a default on all the pension promises. ....

The judge now ordered the state to pay up towards Medicaid to keep doctors and hospitals from cutting off care for the low-income families that rely on the program. ....

I have often pointed out the fate of the city of Mainz (Germany). They had their technological boom with the invention of the printing press there. The politicians couldn’t wait to spend tax money assuming the business cycle would never end. So they spend the money before the taxes were due and borrowed against future tax revenues. The debt quickly became a Ponzi scheme issuing new debt to pay off the old as we are doing today. The interest kept rising so they just raised taxes. The rich began to leave and the city was quickly left with the people who didn’t really pay taxes. The bubble burst when they could not sell the next new issue of debt to pay off the last one. The city defaulted. The Pope excommunicated the politicians. And eventually the city was simply sacked and burned to the ground.

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