Daily Digest

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Daily Digest 6/24 - The Coming Bloodbath In Retail, Why Grenfell Tower Burned

Saturday, June 24, 2017, 9:04 AM

Economy

GOP Push for 20-Year Tax Cut Grows as Ryan Seeks Permanent Fix (jdargis)

The change would at least double the time frame allowed for enacting tax cuts that add to the deficit -- marking a sea change for budget rules and making it easier for the GOP to enact lower rates without any support from Democrats. Republicans control only 52 of the Senate’s 100 seats, and they want to pass a tax bill under a process called reconciliation that allows for a simple-majority vote. Currently, reconciliation rules require that any changes that would add to the deficit outside a 10-year window must be set to expire.

Analyzing Ether: A Bitcoin Investor's Skeptical Take (Afridev)

But today, due to the scaling issue, bitcoin is in a crisis, and altcoins have overtaken bitcoin in market cap. While many will consider me a lucky early bitcoin adopter, clearly, I'm late to the altcoin party. So, it was long overdue that I took another look at this market to see if perhaps today there is a credible alternative to bitcoin or some promising coins to help me diversify my crypto investment.

All Roads Lead to the Bubble-City Danger Zone (GE Christenson)

I expect the next ‘central-bank moment’ to arrive within the coming 12 months. I also expect that when it does arrive it will generally be called a ‘Minsky moment’ or some other name that deftly misdirects the finger of blame, and that central banks will generally be seen as part of the solution rather than what they are: the biggest part of the problem.”

A Street Fight Among Grocers to Deliver Your Milk, Eggs, Bananas (jdargis)

Delivering perishables is much trickier than delivering T-shirts, books or pretty much anything else people can buy online. The biggest challenge is that groceries must stay cold for hours at a time. But there are myriad other complications, too. Bananas and apples give off fumes that can hurt loose leaf lettuce, so they can’t be stored too close. Tomatoes lose flavor when they cool to below 55 degrees. Milk always has to be packaged upright.

We're Going To See A Bloodbath In Retail (Tiffany D.)

Sears — once the world’s largest retailer (and a relic of middle-class shopping from my childhood) — published its own death notice. Sears’ nervous accountants inserted this language in its latest 10-K report: “Our historical operating results indicate substantial doubt exists related to the company’s ability to continue as a going concern.”

Why Grenfell Tower Burned: Regulators Put Cost Before Safety (jdargis)

Promising to cut “red tape,” business-friendly politicians evidently judged that cost concerns outweighed the risks of allowing flammable materials to be used in facades. Builders in Britain were allowed to wrap residential apartment towers — perhaps several hundred of them — from top to bottom in highly flammable materials, a practice forbidden in the United States and many European countries. And companies did not hesitate to supply the British market.

Driverless cars: Kangaroos throwing off animal detection software (Walter S.)

He said it would not delay the eventual rollout of driverless cars in Australia, but it was critical to solve the problem before they were introduced.

According to the NRMA, there were more than 16,000 collisions with roos a year, with nearly 1,000 of those in the bush capital - the number one hotspot for roo collisions in the country.

What’s Causing The Massive Increase In Earthquakes In Middle America? It’s Not Fracking (yogmonster)

As we can see, Oklahoma earthquake activity in 2016 is much greater than it was in 2009. Not only are there a lot more earthquakes, there have been several greater than a 5.0 magnitude. Again, many people assume that this huge increase in earthquake activity is due to the fracking of oil and gas wells. While fracking causes a lot of other environmental and health issues, it isn’t the root cause of Oklahoma’s increased earthquake activity.

Gold & Silver

Click to read the PM Daily Market Commentary: 6/22/17

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."

2 Comments

TechGuy's picture
TechGuy
Status: Gold Member (Offline)
Joined: Oct 13 2008
Posts: 366
Re:What’s Causing The Massive Increase In Earthquakes

Funny! Title saids fracking isnt' the cause. but the article says the waste water from fracking is. That like saying your "half" pregnant. No fracking, no need to inject toxic frack water deep underground.

 

 

thc0655's picture
thc0655
Status: Diamond Member (Offline)
Joined: Apr 27 2010
Posts: 1513
British police considering arming more officers

https://www.theguardian.com/uk-news/2017/jun/23/police-chiefs-to-discuss-offering-guns-to-all-frontline-officers

As expected: 1) there is the beginning of discussions among police brass in Britain about whether or not to increase the number of armed officers, and 2) the concept is highly controversial because there are strongly held opinions among all ranks in their police departments against arming officers.

In a recent survey of Met officers, the Metropolitan Police Federation found just over half said they would carry a gun routinely if asked to do so. One in 10 said they would quit rather than carry a firearm.

30-45% of London officers don't want to be forced to carry a firearm, though you might be surprised by the most common reason given: they don't trust their commanders, the politicians, or the courts not to crucify them in the court of public opinion if they ever got into a shooting, no matter how justified by their training and current law.  I'd call that the equivalent of The Ferguson Effect in the USA.  They'd rather not risk going to prison trying to save someone's life because they don't feel the public and the relevant institutions would rise above the politics and stand behind them.  They have the least amount of trust in their own police chiefs and commanders.

10% of London officers would rather quit their police careers than have to carry a firearm.  I got a laugh out of that one because I estimate that just about 10% of the officers in my department have no business carrying a firearm because they are a danger to themselves and others!!  They only train with their handgun when required to in the department's annual qualifications (it's a 60 round test given one time per year), and never fire their gun between annual testing.  Some officers have very bad judgment about "shoot - don't shoot."  Others are too eager to be a gunfighting hero.  Some know they would never shoot someone, no matter the situation, and they manage their career by either finding an office job in the Department or by making sure they never arrive first for a dangerous-sounding assignment (they hang back and let other officers rush in and expose themselves to the life-threatening danger).

Until now, the preferred option was for highly trained armed officers to be deployed, patrolling the streets in armed response vehicles (ARVs), and ready to be sent to the scene of attack. But the problem is that it might not be possible to get such a unit to the scene of a terror attack on time, particularly outside the capital. 

At the council meeting, the police chiefs will be asked to consider how they would deal with a London Bridge-style attack. If they think it would take too long to send enough armed officers to the scene, they are asked to consider whether it would make sense to increase their number of armed response vehicles or to arm frontline officers.

London is thought to have enough armed officers to rush to the scene of an attack. In the case of London Bridge, it took eight minutes for officers to find and kill the three terrorists, who were attacking people with knives. 

The Westminster attack in March saw about 50 armed officers on the scene in 11 minutes, although in that instance the attacker was stopped because an armed protection officer happened to be in the grounds of the Houses of Parliament.

Can you imagine being an unarmed civilian at the scene of a methodical mass murder in progress and having to wait 8 or 11 minutes (or longer) for armed police to arrive?  That's an eternity when people are being killed.  I wonder what the expectation of the average American or average Briton would be for how quickly police would arrive to address the killers.  My guess about response times by the first armed officer in a large American city to an ongoing terrorist attack would be less than 3 minutes and that would be approximately what American citizens living a city would expect.  In many scenarios the response time would be 1 minute or less, especially if the killers were using firearms which nearby officers could hear and respond to instantly without waiting for a dispatch from police radio.  The British know their officers would take a looong time to arrive, and they also know they are not permitted by law to be armed to defend themselves.  I guess that's the difference between being a subject and being a citizen.

"Welcome to the Hunger Games. And may the odds be ever in your favor."

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