Daily Digest 3/17 - The Truth About Money, The Sixth Mass Extinction Is Here

Economy

Larry Kudlow predicts 4%-5% growth, 'investment boom' (Adam)

Larry Kudlow, picked to be President Trump’s new economic adviser, has privately told the White House that the nation’s economy is on the verge of 4 percent to 5 percent growth, or more than double the last decade.

The Truth About Money (Phil D.)

Here’s the thing, son. New money is issued by an agent of the government called the Federal Reserve Bank, created by Congress a hundred years ago, then lent back to the government through banks who were given ownership of the Federal Reserve.

The government then spends the money, funnelling it to staff and preferred contractors. All of the new money is loaned into existence by the government to the government through the banks, and they even split up the interest with each other.

Corporate America’s new dilemma: raising prices to cover higher transport costs (Uncletommy)

As U.S. economic growth has revved up, railroads and truck fleets have not expanded capacity to keep pace - a decision applauded by Wall Street. Shares of CSX Corp (CSX.O), Norfolk Southern (NSC.N), and Union Pacific Corp (UNP.N) have risen an average 22 percent over the past year as they cut headcount, locomotives and rail cars, and lengthened trains to lower expenses and raise margins.

Quickening economic growth, a shortage of drivers and reduced capacity, and higher fuel prices have driven up transportation costs, prompting some companies to threaten to raise prices on goods ranging from chicken to cereal.

65% of Americans save little or nothing—and half could end up struggling in retirement (Adam)

Only 16 percent of survey respondents say that they save more than 15 percent of what they make, which is what experts generally recommend. A quarter of respondents report saving between 6 and 10 percent of their income and 21 percent say they sock away 5 percent or less.

Meet the tech evangelist who now fears for our mental health (blackeagle)

But certain aspects of her relationship with technology were not so wonderful. “I’d wake up and look at Twitter,” she says. “I had two small children, and the first thing I should have been doing was going to see the kids, but I’d be looking at Twitter.” She realised she was using social media for validation, to feed her ego. She began to think: “If technology is an enabler, why am I just using it for things I don’t like about myself?”

Pfizer CEO gets 61% pay raise—to $27.9 million—as drug prices continue to climb (jdargis)

The 61 percent raise comes after a string of separate reports noting drug price increases by Pfizer. In January, FiercePharma reported an analysis finding that Pfizer implemented 116 price hikes just between this past December 15 and January 3 of this year. The list price increases ranged from 3 percent to 9.46 percent. The analysts noted that Pfizer increased the price of 20 drugs by 9.44 percent. Those included Viagra, Pristiq, Lipitor, and Zoloft, which are available as generics, as well as Chantix.

Revealed: The worrying state of Earth's species in numbers as scientists warn the sixth mass extinction is here and wildlife is in a 'global crisis' (Adam)

Currently around 41 per cent of amphibian species and more than a quarter of mammals are threatened with extinction. Starting Saturday, a comprehensive, global appraisal of the damage, and what can be done to reverse it, will be conducted in Colombia.

Fake processed food is becoming an epidemic in African urban life (blackeagle)

Data focused on the African continent is not as readily available, but what exists is alarming. Recent research by the Confederation of Tanzania Industries estimates that over 50% of all goods, including food, drugs and construction materials, imported into Tanzania are fake. Anecdotal evidence suggests that rates could be between 10% and 50%, depending on the food category and the country.

Gold & Silver

Click to read the PM Daily Market Commentary: 3/16/18

Provided daily by the Peak Prosperity Gold & Silver Group

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