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Daily Digest 11/16 - PR Facing Major Mental Health Crisis, Automated Trucks To Cost 300k Jobs Per Year

Thursday, November 16, 2017, 9:30 AM

Economy

With signs of anxiety and depression on the rise, Puerto Rico now faces a major mental health crisis (Adam)

There is such stigma around mental health that psychologists say the isolation and social distancing of people with mental health issues is actually making us sicker. And there is an enormous financial cost that is paid when people do not get they treatment they need—resulting in increased costs due to disability and loss of work. Most people who have mental illness do not get treatment at all. Yet, mental illness is not uncommon—with nearly 1 in 5 Americans suffering from some kind of depression, bipolar disorder or schizophrenia.

Goldman: Automated Trucks To Cost 300k Jobs Per Year (Adam)

Waymo and other tech companies and automakers currently testing out self-driving cars are preparing to play a part in developing cities around the world. Government officials, employers, and residents in these cities hope that self-driving cars will eventually reduce the number of cars on the streets and make them safer with less car crashes.

Venezuela just defaulted, moving deeper into crisis (Adam)

"Then it's pandemonium," says Fernando Freijedo, an analyst at the Economist Intelligence Unit, a research firm. "The humanitarian crisis is already pretty dire ... it boggles the mind what could happen next."

It's not immediately clear what steps bondholders will take. Argentina went through a vaguely similar default, and its bondholders battled with the government for about 15 years until settling in 2016. Every case is different, though.

Mind The Gap (Sam D.)

Here’s an example of the kinds of things that are now required in order to open a new business. Each element of the design is based on an accumulation of amendments to the code over many decades. Individually it’s impossible to argue against each of the particulars. Do you really want to deprive people in wheelchairs of the basic civil right of public accommodation? Do you really want the place to catch fire and burn? Do you want a barren landscape that’s bereft of vegetation?

Signs of Russian Meddling in Brexit Referendum (jdargis)

The Kremlin has long sought to weaken or divide the European Union, perceiving it as a rival for influence in countries from the former Soviet bloc. And Russia’s main propaganda outlets like Sputnik and Russia Today pushed hard for Brexit.

Big Science - Part Four (Jesper A.)

This is the final and fourth piece of BIG SCIENCE. As Heinberg has pointed out a number of limiting factors are lining up like those three stars of the mages — ecology, followed by energy and last but not least economy — and in that order… Jared Diamond says an elite and an ideology can both hinder the ability to avoid a change. The Norse in Greenland failed to change for both reasons; they were Christian (the colony was destroyed circa 1450) and were not able to take in Inuit ideas, that is Jared´s ideology component. The elite as a brake to positive change was also present he says, in that chieftains had a short-term interest in outjonsing the other cheiftains. Put differently Diamond says an elite can stop change if they have a short-term interest in keeping the business as usual paradigm going. Are we anything like that?

Increased Hours Online Correlate With An Uptick In Teen Depression, Suicidal Thoughts (Adam)

By far the biggest increase was among girls — who were six times more likely than boys to report these or other symptoms of depression.

Twenge says the gender difference in the findings might be because the screen experience for boys — typically playing computer games — is a lot different than it is for girls.

Thousands of scientists issue bleak ‘second notice’ to humanity (tmn)

In late 1992, 1,700 scientists from around the world issued a dire “warning to humanity.” They said humans had pushed Earth's ecosystems to their breaking point and were well on the way to ruining the planet. The letter listed environmental impacts like they were biblical plagues — stratospheric ozone depletion, air and water pollution, the collapse of fisheries and loss of soil productivity, deforestation, species loss and catastrophic global climate change caused by the burning of fossil fuels.

Gold & Silver

Click to read the PM Daily Market Commentary: 11/15/17

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."

10 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
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Posts: 4061
Why half of single parents with student loans default

Why half of single parents with student loans default on their debts

MarketWatch-20 hours ago
About 46% of student parents who borrowed a federal student loan for the 2003-2004 school year defaulted on their debt within 12 years, according to an ...

Spain sells 4.7 bln euros at debt auction, solid demand for 50-yr

Kitco News-4 hours ago
MADRID, Nov 16 (Reuters) - Spain issued 4.7 billion euros ($5.5 billion) of debt at a scheduled auction on Thursday, with solid demand for the longest dated ...

Puerto Rico May Need to Skip Bond Payments for Five Years

Bloomberg-21 hours ago
Puerto Rico is considering suspending debt-service payments for five years, a lead lawyer ... Puerto Rico this year initially said it could allocate $8 billion for debt ...

 

cmartenson's picture
cmartenson
Status: Diamond Member (Offline)
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Posts: 5568
Mind the gap

that was a seriously good article.  I loved it.

The regulatory burdens we place on ourselves are exceeding the economic utility of the spaces and so we get blight and decline and people wonder what the heck is wrong.  It's our own stupid rules, as exemplified here (from the article):

A family bought an old fire station a few years ago with the intention of turning it in to a Portuguese bakery and brew pub. They thought they’d have to retrofit the interior of the building to meet health and safety standards for such an establishment. Turns out, the cost of bringing the landscape around the outside of the building up to code was their primary impediment.

Mandatory parking requirements, sidewalks, curb cuts, fire lanes, on site stormwater management, handicapped accessibility, drought tolerant native plantings… It’s a very long list that totaled $340,000 worth of work.

They only paid $245,000 for the entire property. And that’s before they even started bringing the building itself up to code for their intended use.

Guess what? They decided not to open the bakery or brewery. Big surprise.

I’ve heard many officials and professionals get very derisive in their assessment of such efforts. “Oh, they were idiots. They didn’t do their homework before they started their project. What? They thought they could just do whatever they want with the place? There are rules you know.” These are precisely the same individuals who butter their bread each day with impact fees and billable hours. They have no skin in the game.

In the comments below the article the author also left this gem:

I’ve explored Buffalo and got to know various neighborhoods and people. My experience there was similar to much of the Rust Belt. The older people in charge are ruthlessly wedded to the previous set of arrangements where a couple of the better neighborhoods (wealthier, whiter) were fortified while most of the rest of the city was let go and drained of resources.

Take a map of your town and put a pin at the address of each important person. The mayor, the fire marshal, the police chief, the superintendent of schools, the district attorney… You can be sure they tend to cluster in a few concentrated spots. And those spots will have the best roads, schools, police protection, and public parks along with the highest property values.

Everyplace else? Not so much.

Attention to the lesser neighborhoods comes after – and only after – property values rise considerably. The city needs revenue and money goes to money.

The people who are best able to take advantage of changes in new zoning regulations or building codes aren’t typically the people who live there now. That’s because the new rules are still subject to an endless process that takes technical skill, political skill, time, and serious money.

You don’t get Accessory Dwelling Units springing up in mom and pop’s back yard. Instead, you get 200 unit condo complexes with five stories of structured parking.

 

Quercus bicolor's picture
Quercus bicolor
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Posts: 456
Hypothetical conversation

City:  "You can build your brew pub and bakery if you get the property up to standards that will cost you X dollars.

Business owner:  "That would make the project financially unviable.  We'd be bankrupt in 2 years and all of that beautiful landscaping would be let go to get overgrown. We could make the project work if we met these standards that cost 0.5X dollars (or 0.25 or 0.75, whatever)."

City:  "Sorry, it's got to be the X dollar standard."

Business owner:  "If you say so, but you're losing out because now you get nothing."

Net result either the lesser use with no landscaping, etc.  - or - worse no use and no standards met plus decay from lack of maintenance. 

Matt Holbert's picture
Matt Holbert
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Posts: 95
PP readers may also enjoy...

In the comments below the In the Gap article was a link to an article that I also found enlightening:

https://www.city-journal.org/html/uses-corruption-12180.html

A quote from the article:

Where administration is light and bureaucracy small, bureaucratic honesty is an incomparable virtue; but where these are heavy and large, as in all modern European states, Britain and Italy not least among them, they burden and obstruct the inventive and energetic. Where bureaucrats are honest, no one can cut through their Laocoönian coils: their procedures, no matter how onerous, antiquated, or bloody-minded, must be endured patiently. Such bureaucrats can neither be hurried in their deliberations nor made to see common sense. Indeed, the very absurdity or pedantry of these deliberations is for them the guarantee of their own fair-mindedness, impartiality, and disinterest. To treat all people with equal contempt and indifference is the bureaucrat’s idea of equity.

It should be noted that regulation is also killing small professional service firms. My spouse works for a 2-3 person CPA/Financial planning firm that was recently randomly audited by the state. Essentially, the auditor wanted them to scan every document in their files. Most are confidential. A large firm would have a dedicated person and this would not be much of an imposition. In a small firm it makes the owners question whether or not they can remain in the business.

 

 

 

thc0655's picture
thc0655
Status: Diamond Member (Offline)
Joined: Apr 27 2010
Posts: 1512
False flag(s) coming. Middle East? NKorea?

My personal Facebook account, which has the maximum 5,000 friends and an additional 5,000+ followers, has been blocked from posting for three days. My page hasn’t been blocked yet, but we’ll see; I shared the article there, too.

The reason given for this ban by the little pop-up boxes when I logged on just now was that a couple months ago I had shared an article about admitted false flag operations perpetrated by governments around the world. I don’t know what happened that made Facebook’s system decide to crack down on me now all of a sudden, but I do know I’ve been a bit naughtier than usual in my last couple of articles.

The article I got the banhammer for sharing is titled For Those Who Don’t ‘Believe’ In ‘Conspiracies’ Here Are 58 Admitted False Flag Attacks. According to the site’s ticker it has 50,667 shares as of this writing. It’s laden with hyperlinks for further reading, and lists only instances of false flag operations that insiders are on the record as having admitted to themselves. It’s a good compilation of important information. People should be allowed to share it.

The notifications say I can be permanently banned if I continue posting that sort of material. I’ve had that account since 2007...

 

In a corporatist system of government, corporate censorship is state censorship. When there’s no meaningful space between corporate power and government power, it doesn’t make much difference whether the guy silencing your dissent is Mark Zuckerberg or Jeff Sessions. America most definitely has such a system.

If they’re going to get us locked down and propagandized into their vapid brain boxes, this will be how they’ll do it. Not by government censorship, but by corporate censorship. Government can’t make an overt attempt to stop a dissenting voice from speaking, but the corporations who own the venue of their speech can.

 

https://medium.com/@caityjohnstone/ive-been-banned-from-facebook-for-sharing-an-article-about-false-flags-678c24358fde

robie robinson's picture
robie robinson
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Posts: 1148
Whether or not to be in business???

worse yet to be in solo practice healthcare.... I'm outa here...thankfully as a farmer I'm fine,,not as an optometrist.

Time2help's picture
Time2help
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Joined: Jun 9 2011
Posts: 2766
It's a really deep canyon.

DennisC's picture
DennisC
Status: Gold Member (Offline)
Joined: Mar 19 2011
Posts: 271
Just in case

you're chomping on the bit, the pension rehab bill is number:

S.2147 - A bill to amend the Internal Revenue Code of 1986 to create a Pension Rehabilitation Trust Fund to establish a Pension Rehabilitation Administration within the Department of the Treasury to make loans to multiemployer defined benefit plans, and for other purposes.

However, full text not available yet.  Eleven cosponsors so far. (refer to congress dot gov)

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4061
Millions are expected to forgo coverage if Congress repeals the

 

Fed's Williams calls for global rethink of monetary policy

Reuters-16 hours ago
Strategies that central banks should consider including not only the bond-buying and forward guidance used widely in the last recession, but also negative interest rates that was used in some non-U.S. countries, as well as untried tools including so-called price-level targeting or nominal-income targeting. Central banks may ...

-Venezuela triggers 'credit event' due to bond payment ...

Reuters-15 hours ago
CARACAS, Nov 16 (Reuters) - Delays in payments on Venezuela's sovereign debt and bonds issued by state oil company PDVSA constitute a “credit event,” triggering payouts on credit default swaps (CDS), a New York-based derivatives group ruled on Thursday. The decision by a 15-member committee of the ...

Middle-Class Families Confront Soaring Health Insurance Costs

New York Times-15 hours ago
Consumers here at first did not believe the health insurance premiums they saw when they went shopping for coverage this month on HealthCare.gov. Only five plans were available, and for a family of four with parents in their mid-30s, the cheapest plan went typically for more than $2,400 a month, nearly $30,000 a year.

Millions are expected to forgo coverage if Congress repeals the ...

Pittsburgh Post-Gazette-2 hours ago
WASHINGTON — Millions are expected to forgo coverage if Congress repeals the unpopular requirement that Americans get health insurance, gambling that they won't get sick and boosting premiums for others. The drive by Senate Republicans to undo the coverage requirement under former President Barack Obama's ...

 

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4061
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