Daily Digest

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Daily Digest 9/4 - The First Step Towards Crony Capitalism, NK's Latest Threat

Monday, September 4, 2017, 11:20 AM

Economy

Raghuram Rajan: Populist Nationalism Is “the First Step Toward Crony Capitalism” (edelinski)

Rajan, a professor of finance at the University of Chicago Booth School of Business, spoke about the “concentrated and devastating” impact of technology and trade on blue-collar communities in areas like the Midwest, the anger toward “totally discredited” elites following the 2008 financial crisis, and the subsequent rise of populist nationalism, seen as a way to restore a sense of community via exclusion.

North Korea is an Pentagon Vassal State (lambertad)

One of Kim Jong Un’s earliest indications of a major shift in foreign policy away from Beijing came when he ordered the arrest of his uncle for treason in December, 2013. Jang Sung-taek had been vice-chairman of the National Defence Commission, second only to that of the Supreme Leader and was “key policy adviser” to the politically inexperienced Kim Jong-un on the death of Kim’s father. More importantly, Jang was well-known as China’s best friend in Pyongyang.

Electromagnetic Pulse: North Korea’s Latest Threat Against U.S. (lambertad)

North Korea’s threats against the U.S. now include a tactic long discussed by some experts: an electromagnetic pulse, or EMP, triggered by a nuclear weapon that would aim to shut down the U.S. electricity grid.

Kim ‘Is Begging for War,’ Nikki Haley Says, but Urges More Diplomacy (jdargis)

Since then, North Korea carried out one of its most provocative missile tests in recent years, hurling a ballistic missile directly over Japan that prompted the government in Tokyo to warn residents in its path to take cover. On Sunday, the North conducted its most powerful nuclear test ever, with a blast that experts said was far more destructive than the bombs that the United States dropped on the Japanese cities of Hiroshima and Nagasaki during World War II.

Australia’s dystopian future: a nation of high-rise renters (ezlxq1949)

In fact, examples from overseas – and even some in Australia – suggest it could be a positive. But this would require a massive shift in policy and, more importantly, attitude.

What clearly emerged from the report is that there is no one culprit behind the property price explosion; rather, the picture is of a tangled mess of convergent causes, most of which will not go away.

To Understand Rising Inequality, Consider the Janitors at Two Top Companies, Then and Now (jdargis)

Ms. Ramos is an employee of a contractor that Apple uses to keep its facilities clean. She hasn’t taken a vacation in years, because she can’t afford the lost wages. Going back to school is similarly out of reach. There are certainly no bonuses, nor even a remote possibility of being transferred to some other role at Apple.

Yet the biggest difference between their two experiences is in the opportunities they created.

Brazil Aims To Privatize State-Owned Utility Company (Michael K.)

But, despite the disorder caused by the corruption charges, President Temer is desperately trying to stabilize the wobbly Brazilian economy and get the government’s finances in order. One key measure: privatize a vast swath of the Brazilian economy now held by the government, selling off the mint, the state bank’s lottery unit, the federal savings and, most significantly to us, the government's interest in the country's largest electric utility, Electrobras.

Mortal Mugginess (Eric G.)

This July and August, the Heat Index ("feels like" temperature) seemed to climb into the "Danger" zone every day and stay there for hours, its peak often exceeding the forecast. Could we be approaching deadly weather already? What about other, even muggier parts of the planet?

Researchers descibe this extreme weather in unfamiliar terms, usually involving the "wet bulb temperature" in degrees Celsius. What we hear in daily weather reports and forecasts is the Heat Index, in degrees Fahrenheit. How do these measures relate- or do they? Here's the official NOAA chart of Heat Index values:

Gold & Silver

Click to read the PM Daily Market Commentary: 9/1/17

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."

1 Comment

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Bankers Slave
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Joined: Jul 26 2012
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I want the truth! Can I handle the truth? Can you?

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