Daily Digest

Image by sprottmoney, Flickr Creative Commons

Daily Digest 12/2 - Gold Market Heading Towards Fundamental Change, Who Gains From The Tax Plan?

Saturday, December 2, 2017, 10:10 AM

Economy

Who Gains From the Tax Plan? Economists Face Off (tmn)

There is also substantial disagreement about who would ultimately gain. Republican leaders argue that the substantial tax cuts for business would eventually result in wage increases. Critics counter that there is little historical evidence for that claim.

THE BLIND CONSPIRACY: The Gold Market Is Heading Towards A Big Fundamental Change (yogmonster)

Why is this a big problem? Because a lot of readers are being misguided as to the true nature of the serious predicament we are facing. Half of the emails that I receive are from readers who are bringing up doubts based on other analysts’ faulty analysis and misinformation. Thus, it takes a great deal of effort to provide the real facts and data to counteract the damage being done by certain individuals, even those with good intentions.

The Coddling of the American Mind (blackeagle)

This new climate is slowly being institutionalized, and is affecting what can be said in the classroom, even as a basis for discussion. During the 2014–15 school year, for instance, the deans and department chairs at the 10 University of California system schools were presented by administrators at faculty leader-training sessions with examples of microaggressions. The list of offensive statements included: “America is the land of opportunity” and “I believe the most qualified person should get the job.”

Hospital charges $1,877 to pierce 5-year-old’s ears in example of health care waste (gallantfarms)

At first, O’Neill assumed the bill was a mistake. Her daughter hadn’t needed her ears pierced, and O’Neill would never have agreed to it if she’d known the cost. She complained in phone calls and in writing.

The hospital wouldn’t budge. In fact, O’Neill said it dug in, telling her to pay up or it would send the bill to collections. The situation was “absurd,” she said.

Bitcoin Heads to Wall Street Whether Regulators Are Ready or Not (jdargis)

CME Group Inc.’s contracts will debut Dec. 18. Cboe Global Markets Inc. didn’t announce a start date. Both got the green light Friday after going through a process called self-certification -- a pledge to the U.S. Commodity Futures Trading Commission that the products don’t run afoul of the law. The news pushed bitcoin’s price higher.

Genetically Engineering Yourself Sounds Like a Horrible Idea—But This Guy Is Doing It Anyway (tmn)

First step: assault himself with duct tape. Next, he would spread a DNA plasmid containing the enzyme tyrosinase over his skin in order to spur his body’s production of melanin and (fingers crossed) persuade a small patch of skin on his left forearm to turn a slightly darker shade of pasty-pale. At least theoretically, the plasmid should sink into his skin, penetrate his skin cells and cause the cells to begin overexpressing the tyrosinase gene, increasing the amount of skin color-causing melanin in that one circle-shaped spot. He was riffing off a paper he’d read in which scientists used a similar topical gene delivery method to give a different gene to mice.

New York City Has Genetically Distinct ‘Uptown’ and ‘Downtown’ Rats (blackeagle)

As a whole, Manhattan’s rats are genetically most similar to those from Western Europe, especially Great Britain and France. They most likely came on ships in the mid-18th century, when New York was still a British colony. Combs was surprised to find Manhattan’s rats so homogenous in origin. New York has been the center of so much trade and immigration, yet the descendants of these Western European rats have held on.

The Big Melt (drbost)

Last December was the driest in 150 years of record keeping, and the flakes that did manage to fall didn’t stay around long. The snow line—the point on a slope at which it’s high enough and thus cold enough for snow to stick—is about 3,900 ft., which is a historic high in some areas. But worse lies ahead as scientists predict melt even at nearly 10,000 ft. by the end of the century.

Gold & Silver

Click to read the PM Daily Market Commentary: 11/30/17

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."

4 Comments

Uncletommy's picture
Uncletommy
Status: Gold Member (Offline)
Joined: May 3 2014
Posts: 473
Evolutionary pressures;Uptown, Downtown, Wall St?

thc0655's picture
thc0655
Status: Diamond Member (Offline)
Joined: Apr 27 2010
Posts: 1512
Bankruptcy creeping up unseen by most

A few days ago a bicyclist riding in a marked bike lane on Spruce St (a busy one way street running west in the center of Philadelphia) was struck and killed by a private trash truck.  Philadelphia's infrastructure is decaying badly ( we even have a few WOODEN water mains left over from the late 18th century).  Not only can't the City keep up with bursting water and gas mains, crumbling bridges and potholed streets, it can't even keep up with painting lines on City streets!  The below article describes how City crews were out on Spruce St December 2 repainting the bike lane which had become almost invisible.  I don't know that would have prevented this tragic accident, but the faded lines are just one of many signs that Philadelphia is slowly and silently going bankrupt while its infrastructure falls apart.  Of course, not wanting to be embarrassed or blamed, politicians do their best to hide these signs and respond quickly to occasional visible evidence when it pops up.

http://www.philly.com/philly/news/spruce-street-bike-lane-crash-emily-fredricks-died-repainted-cyclist-death-20171202.html

Maybe it's a coincidence and maybe it's not, but the City is currently paying 18% of its budget toward pensions, up considerably from recent years and rising fast.  The City pension fund is over $5 billion underfunded with a NPV of about 45% using the unrealistic assumption that the fund's investments will return 7.5% year after year.  With a more realistic 4% rate of return the NPV is closer to 25%. This slow, silent decay will continue until one day a dramatic announcement is made that the City is broke and must renegotiate its labor contracts, slash its budget to the bone, and reduce its pension payments.  I have a plan to be gone before that and to be able to handle the cuts in our pension payments.   Most won't be so fortunate.  Philly has the highest poverty rate among the largest US cities.  What are those people going to do? Painted bike lanes will be the least of their concerns.

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

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4060
Monetary policy must address 'frothy' financial markets, warns

 

Monetary policy must address 'frothy' financial markets, warns ...

CNBC-5 hours ago
Investors should be more concerned about an overheating financial market at a time when consumer debts are rising to unsustainable levels, according to the global body for central banks. In its quarterly financial review, the Bank for International Settlements (BIS) said investors were choosing to bask in the "light and ...

Debt redemption wave of $1tn looms in 2018

Financial Times-9 hours ago
A $1tn wave of fixed-income debt is set to mature in Europe, the Middle East and Africa in the coming year, posing a significant challenge for investors searching for returns, according to new research. The debt was raised by investment-grade companies, sovereigns and financial institutions in the aftermath of the financial ...

How Cash-Strapped Chicago Snagged a Triple-A Rating for Its New ...

Wall Street Journal-21 hours ago
Chicago is running a multimillion-dollar deficit and faces a pension-funding crisis that dwarfs many others around the country. Yet the nation's third-largest city is on the verge of selling as much as $3 billion in bonds at a triple-A rating, the latest twist in the tale of cash-strapped U.S. municipalities adopting Wall Street ...

How Not to Erase Student Debt

Bloomberg-30 minutes ago
The average borrower in the class of 2016 left campus more than $30,000 in debt -- triple the level from 1990, while earnings for newly minted grads have remained flat. Many are struggling to keep up with payments. Of the 22 million Americans with student loan debt, 30 percent are in default (at least a year behind on a ...

 

blackeagle's picture
blackeagle
Status: Silver Member (Offline)
Joined: May 16 2013
Posts: 216
The Coddling of the American Mind

Us too! Us too! Us too! This is not a US privilege!

Last week, a political party in Quebec (Quebec Solidaire) put in its meeting agenda the discussion for a proposal to ban the word "Patrimoine" (Heritage, patromony) because it sounds too masculine. It remind people the era when the society was patriarchal: "Héritage du pere" (Father's heritage). The dominance of men over women. It has to be replaced by "Heritage culturel" (Cultural heritage).

Fortunately the society made enough noise to highlight this stupidity that it has been postponed. Just postponed...

Another one: The Fédération des femmes du Québec (a feminist organization) elected its president. This lady proposed to abolish all notion of gender (male, female). We will all become one neutral gender. In her discourse, she invented the word "Toustes", which combines "Tous" ("All" in the masculine form) and "Toutes" ("All" in the feminine form). Big noise too...

Yep, this modern society is going nuts... these two examples are just details.

I feel that there is a climate change toward a global sanitizing of behavior and relationship between people, which is amplified by social media and the increasing inability of people to directly talk to/interact with each other.

 

 

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Login or Register to post comments