Daily Digest

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Daily Digest 6/26 - An Unexpected Carbon Tax Proposal, Where Are All the Builders?

Tuesday, June 26, 2018, 10:08 AM

Economy

Supreme Court Upholds Gerrymandered Texas Maps, Dealing a Blow to Voting Rights (tmn)

This latest battle over Texas’ political maps began shortly after the last redistricting period following the 2010 census. Texas’ population had ballooned over the previous decade due to the state’s rapidly expanding minority population, and nearly 90 percent of Texas’ 4.3 million new residents were Latino or African American. As the fastest-growing state, Texas received four new congressional districts. But when the Republican-controlled Legislature drew political maps the following year, it created four new districts that were largely controlled by white voters. Latino and African American rights groups sued over the new maps.

EU Tariffs Take Effect, Retaliating For Trump's Tariffs On Steel And Aluminum (TS)

"The trade that we believe in is built on rules, trust and reliable partnership," Jean-Claude Juncker, president of the EU Commission, said in a speech in Dublin on Thursday night. "The United States' decision to impose tariffs on Europe goes against that. In fact, it goes against all logic and history."

Harley, stung by tariffs, shifts some production overseas (TS)

Harley-Davidson Inc. sold almost 40,000 motorcycles in the EU last year, its second-largest market after the United States, according to the company. The EU sales make up almost 16.4 percent of Harley-Davidson’s worldwide sales. In the U.S., Harley-Davidson sold 147,972 motorcycles last year, according to company data.

Survey: Nearly 4 in 10 Work a Side Job, Earning an Average $8k Per Year (Thomas R.)

"When I talk to millennials, I think two things really come up. One is that they're very aware that there's no job security, so they're the least likely generation to kind of settle into a full-time job and assume that everything's going to be OK," Mulcahy said. "The other reason is clearly economic. Most millennials ... have significant debt and a lot of them are looking for ways to either build a financial cushion or reduce their debt faster."

Where Are All the Builders? (Thomas R.)

"For better or worse, business is good for us. They're beating down the door," says Tyson Conrad, the president and founder of Tampa-based Goliath Construction Consulting, which serves as a national recruiting and consultation outfit geared specifically toward the construction sector. "We're in a place now where you have a booming economy and booming construction industry and lack of manpower. So people have gotten creative and desperate, essentially."

Rebound in South powers U.S. new home sales, dampens prices (Thomas R.)

New home sales are drawn from permits and tend to be volatile on a month-to-month basis. They increased 14.1 percent from a year ago. New home sales are getting a boost from an inventory crunch in the market for previously owned houses.

A report last week showed existing home sales falling for a second straight month in May.

Judicial Watch Obtains IRS Documents Revealing McCain’s Subcommittee Staff Director Urged IRS to Engage in “Financially Ruinous” Targeting (Thomas R.)

Judicial Watch previously reported on the 2013 meeting. Senator McCain then issued a statement decrying “false reports claiming that his office was somehow involved in IRS targeting of conservative groups.” The IRS previously blacked out the notes of the meeting but Judicial Watch found the notes among subsequent documents released by the agency.

Google "Internet," Media! (Thomas R.)

Our immigration officials are so thorough, so hard to fool, that they granted Beatrice Munyenyezi asylum and citizenship, allowing her and her kids to live off the U.S. taxpayers for 10 years before federal prosecutors noticed, Hey! Munyenyezi wasn't a victim of the Rwandan genocide; she was a perpetrator! Munyenyezi had personally sentenced thousands of Rwandan women and children to death.

How To Look Away (JK)

On MSNBC on Tuesday, the host Nicolle Wallace noted to The Washington Post’s Philip Rucker that “our eyes do not lie with the images we’re seeing from the border.” He agreed, of course. (What could be more true?) But on the other hand, the powerful people whisper: Maybe eyes can lie, too. The images, the sounds, the video, the stories: Perhaps, instead of telling truths, they are obscuring them. Perhaps they are baiting your emotions. Perhaps they are trying to manipulate you into misdirected empathies. Do not fall for it. Do not feel for it.

The cost of illegal immigration to taxpayers is growing at an unsustainable pace (Thomas R.)

The state and local costs of illegal migration are amplified by the fact that illegal immigrants remit much of their earnings to their home nations. FAIR estimates that nearly 20 percent of the average household income of illegal immigrants is remitted back to their home nations. Annually, this totals approximately $7,200 per illegal immigrant household that is not spent in the United States, and therefore is not subject to the sales or excise taxes that fund state treasuries.

Illegal Immigrants Destroy Environment Near US Border (Thomas R.)

An estimated 3.2 million people entered the state through the Southern Arizona desert from July 1999 through June 2005 and, in that time, 25 million pounds of trash piled up, making the barren wilderness a literal wasteland. The trash isn’t just the contents of the normal kitchen bin.

Humans alone in universe, depressing study finds (Thomas R.)

The Fermi paradox, named after physicist Enrico Fermi, is the contradiction between the lack of any evidence that Earth has been visited by intelligent extraterrestrial civilizations and the high probability that one or multiple civilizations exist, due to a number of factors. The factors include: there are billions of stars in the galaxy similar to our Sun; many of these stars have Earth-like planets; and some of these civilizations may have developed interstellar travel, something that is being discussed now by experts, including theoretical physicist Dr. Michio Kaku.

Game Over - Oil Prices Are Going Higher (Thomas R.)

The goal then is to just figure out where supply and demand are going. Because once you can handicap the variables in the outlook, then it's just a matter of figuring out how certain you are of those odds.

An Unexpected Carbon Tax Proposal (Michael S.)

The organization’s 10-member advisory board includes John Rowe, former chairman and CEO of Exelon Corporation, the largest diversified utility in the United States, and Marvin Odum, former chairman and president of Shell Oil Company and board member of the American Petroleum Institute.

FDA approves country’s first medicine made from marijuana (Thomas R.)

“This approval is the culmination of GW’s many years of partnership with patients, their families, and physicians in the epilepsy community to develop a much needed, novel medicine,” GW CEO Justin Gover said in a statement. “These patients deserve and will soon have access to a cannabinoid medicine that has been thoroughly studied in clinical trials, manufactured to assure quality and consistency, and available by prescription under a physician’s care.”

Global Temps Continue Century-Record Plunge, Despite Rising Emissions! (Thomas R.)

Before 2016, UAH and RSS both tracked closely showing very little warming in their data sets which led to the identification and validation of “the pause” in global warming which has since become the subject of much research and debate in peer-reviewed scientific journals.

This one issue could make splitting California into three states virtually impossible (Thomas R.)

"In a word, it would be a nightmare from a water standpoint," said Sacramento water lawyer Kevin O'Brien. "You have got multiple questions about how the different water-related assets would be divided. That would include water rights, reservoirs, conveyance facilities like the California Aqueduct. ... How exactly you would carve those assets up would be extremely complicated."

Gold & Silver

Click to read the PM Daily Market Commentary: 6/25/18

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."

3 Comments

Geedard's picture
Geedard
Status: Bronze Member (Offline)
Joined: Oct 13 2014
Posts: 79
Wonder what Chris and Art Berman think of this...?

To my untrained eye, this article - predicting future oil under-supply and increasing future oil price to a level triggering demand destruction after Nov 2018 (and resulting economic impact) - seems to be quite detailed and well researched...

Of course it's nothing new and follows comments consistently made on this site for many years - I wonder what Chris and Art think about it's accuracy / predictions?

https://seekingalpha.com/article/4183852-game-oil-prices-going-higher

 

Uncletommy's picture
Uncletommy
Status: Platinum Member (Offline)
Joined: May 4 2014
Posts: 569
Oil in short supply?

https://sputniknews.com/europe/201806261065780608-europe-beer-gas-shortage/

I guess carbon taxes are having an effect! However, hope springs eternal!

https://vimeo.com/260396243

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4145
Federal debt to reach $100 trillion: CBO

Federal debt to reach $100 trillion: CBO

Washington Times-12 hours ago
The government is now staring at $100 trillion in total debt, the Congressional Budget Office said Tuesday, chronicling the disastrous trajectory of federal fiscal ...

US debt highest of post-war era

Guardian (blog)-10 hours ago
US sovereign debt is approaching historically high levels and in three decades debt service will cost as much as Social Security spending, the Congressional ...

BOE Warns of Growing Risks in Global Debt Markets

Wall Street Journal-2 hours ago
... Bank of England sounded an alarm Wednesday over global debt markets, saying ... corporate and sovereign funding conditions,” BOE Governor Mark Carney ...

BOJ's Amamiya says central bank "very far off" from stimulus exit ...

Reuters-17 hours ago
WELLINGTON, June 27 (Reuters) - Bank of Japan Deputy Governor Masayoshi Amamiya said he sees an exit from ultra-loose monetary policy for the central ...

 

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