Daily Digest

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Daily Digest 10/21 - Climate Change is "Existential" Threat To Humanity, China Is Quietly Reshaping the World

Sunday, October 22, 2017, 11:02 AM

Economy

Wall Street furious over proposal to slash 401(k) limits (thc0655)

The world’s largest money managers, which handle more than $20 trillion in assets, bristled that Congress wanted to cap contributions, according to The Wall Street Journal report.

The Vanguard Group, the world’s second-largest asset manager, founded by investing legend Jack Bogle, is “greatly concerned over legislation that would negatively impact investors’ ability or incentive to save for retirement,” spokeswoman Laura Edling told The Post.

China Is Quietly Reshaping the World (edelinski)

Now it’s China’s turn. The scale and scope of the Belt and Road initiative is staggering. Estimates vary, but over $300 billion have already been spent, and China plans to spend $1 trillion more in the next decade or so. According to the CIA, 92 countries counted China as their largest exports or imports partner in 2015, far more than the United States at 57. What’s most astounding is the speed with which China achieved this. While the country was the world’s largest recipient of World Bank and Asian Development Bank loans in the 1980s and 90s, in recent years, China alone loaned more to developing countries than did the World Bank.

The Godfather of Mexican Manufacturing Couldn’t Care Less About Donald Trump (jdargis)

This is just one of about 50 maquiladoras operating inside the Antonio J. Bermúdez Industrial Park, which is named after Jaime’s politically powerful late uncle and sits on Antonio J. Bermúdez Avenue on the northeast side of town, just over a mile from the Rio Grande River. An additional three dozen industrial parks and industrial zones in Juárez contain some 400 factories of various sorts and sizes; all told, the maquiladoras employ almost 300,000 people. Dozens of other such manufacturing clusters have sprung up in Mexico, here along the border as well as deeper in the interior. But Bermúdez’s was first, in the late 1960s, and his collection of seven parks remains among the largest. “Don Jaime is the quote unquote godfather of the maquiladora sector,” says Roberto Coronado, a senior economist at the Federal Reserve Bank of Dallas and an expert on the border economy. “He was really the visionary.”

The Secrets Of Sleep (tmn)

Sleep apnea was once thought to be rare, but, now that there are sophisticated diagnostic tools to measure respiration and muscle contractions, it is known to afflict some two to three per cent of the U.S. population—five million men and two and a half million women. That makes it as prevalent as mental illness, and not all sufferers are obese.

U.S. Sen. Cantwell’s amendment to protect ANWR from oil exploration fails (tmn)

On Thursday, Cantwell, the ranking Democrat on the Senate Energy and Natural Resources Committee, called the plain “one of the most pristine areas of the United States.” The United States doesn’t need the refuge oil, she said, and it should be the last place to drill.

CO₂ benefits of regrowing forests nothing to shake a stick at (jdargis)

Currently, land ecosystems (and human activities affecting them) are responsible for emitting the equivalent of about 1.5 billion tons of CO2 each year. (For comparison, total human-caused emissions are around 48 billion tons each year.) This is the balance of about 11 billion tons of emissions (caused by things like deforestation and agricultural practices) and the 9.5 billion tons of our CO­2 emissions that land ecosystems helpfully soak up. It’s possible to change both of those numbers so that land ecosystems remove more CO2 from the atmosphere than they add.

Scripps says climate change may represent "existential" threat to humanity (Ben)

“I changed my mind because, over the past five years, I have gone back and reviewed data that we began collecting from satellites in the 1980s and data from aircraft and changes in the intensity of storms, and studies about the possible health affects of rapid global warming.

Scripps Study: There’s A Chance Climate Change Can Wipe Out Humans By 2050 (Ben)

“When we say 5 percent-probability high-impact event, people may dismiss it as small but it is equivalent to a one-in-20 chance the plane you are about to board will crash,” Veerabhadran Ramanathan, lead study author and a distinguished professor of climate and atmospheric sciences at Scripps said in a press release. “We would never get on that plane with a one-in-20 chance of it coming down but we are willing to send our children and grandchildren on that plane.”

Gold & Silver

Click to read the PM Daily Market Commentary: 10/20/17

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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saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4064
Venezuela's Behind on Its Debt and Facing Two Huge Bond Payments

Venezuela's Behind on Its Debt and Facing Two Huge Bond Payments

Bloomberg-2 hours ago
Ever since the price of oil collapsed in mid-2014, there's been a broad consensus among the bond-market crowd that Venezuela was going to default.

Soaring numbers flying abroad for medical care as NHS lists lengthen

Telegraph.co.uk-16 hours ago
Government data shows the number of people going abroad for healthcare has ... costs covered by the health service, if it is treatment the NHS normally funds.

 

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