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Daily Digest 8/22 - How Long $1M Retirement Will Last, Abolish The Presidency?

Tuesday, August 22, 2017, 9:39 AM

Economy

This is how long $1 million will last in retirement (Adam)

"One of the benefits of living in the southeast is that the cost of living is significantly lower," Evitt said.

However, in Hawaii, where residents pay roughly 30 percent more for household items across the board, that same amount will only get you just shy of a dozen years largely because of the cost of living and pricey real estate.

The Problem is Bigger Than Trump and Obama — The Presidency Should be Abolished (Adam F.)

A president makes it easy to produce ‘fast food’ news, irresistible to short attention spans and poisonous to the system. Every four years, two people are made to represent the myth of ‘liberal vs. conservative,’ directing everyone’s energy into straw man issues. There is no room for nuance, let alone building a rational case on an issue of importance.

If you are against candidate X, then you must be a [insert buzzword] who follows candidate Y. So goes the narrative. And every four years the corporatocracy celebrates another win.

Exclusive: Secret Service depletes funds to pay agents because of Trump's frequent travel, large family (Uncletommy)

The compensation crunch is so serious that the director has begun discussions with key lawmakers to raise the combined salary and overtime cap for agents, from $160,000 per year to $187,000 for at least the duration of Trump's first term.

But even if such a proposal was approved, about 130 veteran agents would not be fully compensated for hundreds of hours already amassed, according to the agency.

Mnuchin’s Fort Knox Quip: ‘I Assume the Gold Is Still There’ (Adam)

Mnuchin, whose action-film credits include ‘‘Mad Max: Fury Road,” “The Lego Batman Movie” and “Suicide Squad,” said that he would be only the third secretary of the Treasury to go inside the vault since it was created in 1936 by President Franklin Delano Roosevelt.

“We have approximately $200 billion of gold at Fort Knox,” said Mnuchin. “The last time anybody went in to see the gold, other than the Fort Knox people, was in 1974 when there was a congressional visit. And the last time it was counted was actually in 1953.”

Big Science — David Ricardo and Robin Hood of Sherwood, Part Two (Jesper A.)

In the first part the main take-away was how ecology is a slow changing yet inexorable historic factor, as we saw with the different versions of the Robin Hood tale over the long run. The toe-nails of history, growing imperceptibly, literally under your feet. I am thinking up a third part. The sequel to this piece is a deeper development of the egoistical and post-everythingness of our consumer community. The theme of philosophy is stronger there involving words such as ideology and consumerism. In this one the notions revolve around history — but do we as I said see what that is, do we cope with hundreds of yrs of human idiocy or big change? That no change “happens” in history is a taken for granted quality. No we don’t, I hate to break it, you see as Chris Martenson points to; we are just humans.

Inside the new economic science of capitalism’s slow-burn energy collapse (Orin I.)

Several other studies suggest that this ongoing decline in the overall value of the energy extracted from global fossil fuels has played a fundamental role in the slowdown of global economic growth in recent years.

In this sense, the 2008 financial crash did not represent a singular event, but rather one key event in an unfolding process.

Total Eclipse of Sense (GE Christenson)

Thanks to the Federal Reserve policies, commercial fractional reserve banking and U.S. government spending, prices have risen for decades. However we are assured there is almost no consumer price inflation.

Despite Sanctions, Qatar Outpaces Saudi Arabia In Economic Growth (Michael K.)

“The illegal actions of our neighbors have been the catalyst for us to accelerate our economic plans and renew our commitment to diversification and sustained growth,” said Sheikh Tamim bih Hamid at Thani. “We fully expect to see a strong return of the Qatari economy this year and growth over the years to come.”

Qatar Petroleum also guarantees an increase in oil equivalent output topping one million barrels per day between the next five to seven years.

Gold & Silver

Click to read the PM Daily Market Commentary: 8/21/17

Provided daily by the Peak Prosperity Gold & Silver Group

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