Daily Digest

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Daily Digest 7/2 - The Birth of the American Republic, An Autopsy Of The American Dream

Monday, July 2, 2018, 8:40 AM

Economy

Bank Deposits No Longer Off Limits as ECB Seeks Power to Freeze (Adam)

EU member states appear ready to heed the request, according to a Nov. 6 paper that develops their stance on a bank-failure bill proposed by the European Commission. They suggest giving authorities the power to cap deposit withdrawals as part of a stay on payments only after an institution has been declared “failing or likely to fail.”

An autopsy of the American dream (blackeagle)

The book argues the people with the most advantages in the American economy have used that privilege to catapult themselves ahead of everyone else, and then rigged the system — to cement their position at the top, and leave the less fortunate behind.

July 2, 1776 – Birth of the American Republic: New York Abstains, John Dickinson (PA) is Absent (DennisC)

On the night of July 1, 1776, after a steamy heat-and-storm-laden day, the Continental Congress took a break from debating declaring independence from Britain. Nine colonies, a majority, voted for independence, but there was a desperate need for a unanimous vote. That night, came the dreadful news of 100 British warships off the shores of New York City. The final vote came the next day, on July 2nd. New York abstained (and we thank them). John Dickinson of the divided Philadelphia delegation was absent. We thank him too.

Unfunded Promises (hail)

Uncle Sam has made too many promises to too many people, with little regard for its future ability to fulfill them. These are debt. Worse, some of them are additional debt on top of the obligations we already see on the national balance sheet.

Tick Discovery Highlights How Few Answers We Have about These Pests in the U.S. (Sparky1)

The woman, a local farmer, had been shearing her sheep when she realized she was covered in black, crawling spots and booked it to the health department. She had a change of clothes in her car and gave the health office staff her bespeckled pants; they threw them in the lab freezer to kill the ticks. Later that day Rainey headed over to his colleague’s building, where the staff took the pants back out of the freezer and shook the clinging ticks out into a pan. They saved about a thousand—although the ticks were dead, Rainey wanted to keep them for further testing. “I took a look at them, just thinking, ‘Well, that's an awful lot of ticks,’” Rainey recalls. “It was almost exhilarating—to the point where you wanna blow up the building, though.”

The Most Important Geopolitical Meeting This Year (Michael S.)

The alleged meddling of Moscow in the American presidential elections of 2016 created a political minefield for President Donald Trump when trying to meet with President Vladimir Putin of Russia. Although they have spoken several times on the fringes of international events such as the G20 gathering in 2017, an official bilateral visit has not yet been organised. Recent developments, however, have provided an opening for both leaders. Besides the civil war in Syria and the ongoing conflict in Ukraine, coordination in the energy domain has proven to be another reason for communication.

Are you liable for your parent’s nursing home bills? (Thomas R.)

“It’s not prevalent today, but depending on changes in the law and the diminishing availability of public funds it may become more prevalent,” she said, noting long-term care facilities may be more motivated to pursue family members for payment as Medicaid reimbursement rates decline. “There are several cases recently that have held children responsible for paying their parent’s bills.”

The Global Economy is Running out of its Most Valuable Resource (thc0655)

All theories, all models that we know about the economy, finance and markets were developed when the European populations grew. The global economy is dependent on the industrialized world. Without Europe, the Sheikhs of Dubai would relapse into the life in tents, Africa’s population would be about 90 million instead of 1.2 billion, and today’s US would be a sparsely populated country with very few nomad tribes.

Friday's Massive Comcast Outage Shows How Fragile The Internet Is (Thomas R.)

"Earlier today, Zayo experienced a fiber cut in the New York area," said a Zayo spokesperson in a statement. "We immediately dispatched our local team who quickly restored the cut. All impacted services in the area have been restored."

Drought woes? This tech can literally make it rain (Sparky1)

To do this, pilots target clouds with lots of moisture and inject small amounts of an inert chemical, which is a silver iodide mixture. The water in the clouds condenses around the new particles and becomes heavy. Then, it falls to the ground as precipitation.

Teen takes different approach to farming (Thomas R.)

“You don’t need big equipment to go farming, and you’re putting in the same thing as everyone else,” his father told him.

Ebeling said his interest in farming with vintage equipment began while participating in a Canadian Foodgrains Bank growing project harvest near Ponoka, Alta., in 2015.

Gold & Silver

Click to read the PM Daily Market Commentary: Q2 2018

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."

7 Comments

LesPhelps's picture
LesPhelps
Status: Platinum Member (Offline)
Joined: Apr 30 2009
Posts: 788
An Autopsy of the American Dream
Quote:

Among the 35 richest countries in the world, the US now has the highest infant mortality rate and the lowest life expectancy.

This is what we are getting for by far the highest per capita health care expenditures.

I remember reading recently that our education system now ranks in 21st place, right (either before or after) Turkey.

Tell me again why illegal imigrantion and border control issues are the hottest news topics and most confrontational issues of the day?

We need to revisit our priorities.

sand_puppy's picture
sand_puppy
Status: Diamond Member (Offline)
Joined: Apr 13 2011
Posts: 1884
The Harvard Boys Do Russia

Borrowing from the phrasing of the porn classic "Debbie Does Dallas,"  American anthropologist Janine R. Wedel tells the story of the "privitazation" (plundering) of Russia's state owned assets under Borris Yeltsin.  This article is from The Nation.

Her bio notes:

Wedel received a Ph.D. in Cultural Anthropology from the University of California at Berkeley. She writes about governing, corruptionforeign aid, and influence elites through the lens of a social anthropologist

The plunder of Russian state assets was facilitate by President Bill Clinton and the Harvard Institute for International Development (HIID).  Harvard professors Jeffrey Sachs, Lawrence Summers and David Lipman, Jonnathan Hay and other high profile Harvard academics along with money from the IMF for "foreign development."

The whole thing is quite a story.

She draws on the book "How America Buildt the New Russian Oligarchy."  

Anne Williamson, a journalist who specializes in Soviet and Russian affairs, details these and other conflicts of interest between H.I.I.D.’s advisers and their supposed clients–the Russian people–in her forthcoming book, How America Built the New Russian Oligarchy. For example, in 1995, in Chubais-organized insider auctions of prime national properties, known as loans-for-shares, the Harvard Management Company (H.M.C.), which invests the university’s endowment, and billionaire speculator George Soros were the only foreign entities allowed to participate. H.M.C. and Soros became significant shareholders in Novolipetsk, Russia’s second-largest steel mill, and Sidanko Oil, whose reserves exceed those of Mobil. H.M.C. and Soros also invested in Russia’s high-yielding, I.M.F.-subsidized domestic bond market.

When the dust settled, 9 men emerged as multi-billionaires, the Russian oligarchs, and the Russian people had been robbed of their state owned industries and resources, under the pretext of "aid" / "capitalism" and "privitazation."

Michael_Rudmin's picture
Michael_Rudmin
Status: Platinum Member (Offline)
Joined: Jun 25 2014
Posts: 830
If you're referring to the title, SandPuppy

... I don't think you have the allusion correct--the context doesn't match. Maybe she stated it herself, so you are right, but it's not a good fit.

I'm more inclined to think a better allusion would be to "Beavis and Butthead do America", but even that isn't really spot on, a whirlwind tour of insults.

But there is a standard usage of "do", which fits... and means to "do something to", such as "I had Emily do my hair this weekend. What do you think?" or "You want to do the town?" In this case, the usage is that the Harvard Boys did something bad to Russia

robie robinson's picture
robie robinson
Status: Diamond Member (Offline)
Joined: Aug 25 2009
Posts: 1181
Michael?

What I want to know is

“Do you you, feel like I do”.

Uncletommy's picture
Uncletommy
Status: Platinum Member (Offline)
Joined: May 4 2014
Posts: 569
Uncletommy's picture
Uncletommy
Status: Platinum Member (Offline)
Joined: May 4 2014
Posts: 569
TechGuy's picture
TechGuy
Status: Gold Member (Offline)
Joined: Oct 13 2008
Posts: 414
Re:Are you liable for your parent’s nursing home bills?

"Are you liable for your parent’s nursing home bills?"

Pretty frightening as this opens the doors that children and perhaps other family members could be liable for debt owed by parents. This is like neo-feudalism were your born as a debtor for your families debt. Perhaps today its Medical debt, but will it go into Credit card debt, Home, Auto, Student loan debt next?

 

 

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