Daily Digest

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Daily Digest 7/3 - The China Trade, MX’s New President Has Energy Sector On Edge

Tuesday, July 3, 2018, 10:29 AM

Economy

Merkel to fight another day after settling migration row (TS)

The deal, which brought Merkel’s government to the brink of collapse just three months after it was formed, keeps her in office. But the woman who has dominated European politics for 12-1/2 years appears greatly diminished, raising questions over whether she will serve out her term.

Billionaire Richard Branson: America should give out free cash to fix income inequality (thc0655)

“I think AI will result in there being less hours in the day that people are going to need to work,” Branson said. “You know, three-day workweeks and four-day weekends. Then we’re going to need companies trying to entertain people during those four days, and help people make sure that they’re paid a decent amount of money for much shorter work time.”

A Turn for the Worse (thc0655)

Don’t get too worked-up, either, over the Big Story that robots will soon be doing all the jobs lately done by humans in America. That fantasy of the next economy is actually already dead-on-arrival due to the energy predicament that virtually no one in the public arena is paying any attention to. The century-long oil bonanza is winding down again. The oil companies know it. They’re not spending any money on exploration, meaning they won’t replace the energy we’re currently burning up with new supply. To make matters more interesting, the alt-energy industries will not survive the demise of oil. You have no idea how this dilemma will shove the life our nation into something like a new medieval age. And don’t be surprised if it comes complete with a new feudalism — which is just a way of describing a deeply local economy, if you can make one at all.

Alexandria Ocasio-Cortez’s Message to the Democratic Party (jdargis)

Ocasio-Cortez’s second point is related to the first: to attract working-class and middle-class voters of all colors and ethnicities, Democratic candidates need to demonstrate that they aren’t part of a system rigged in favor of the rich and powerful. As a former campaign organizer for Bernie Sanders, Ocasio-Cortez levelled many of the same charges against her opponent, the ten-term Democratic congressman Joseph Crowley, that Sanders hurled at Hillary Clinton during the 2016 Democratic primary. “My opponent takes insane amounts of money from luxury-real-estate developers, from private-equity groups, from pharmaceutical corporations and insurance corporations,” she told Greenwald. “And that is tied directly to the legislation he has been passing.”

The China Trade (David A.)

The problem for China is that Kissinger’s utterances are so blatantly pro-China that nobody gives them any credence. Whether or not they are getting their money’s worth with Kissinger, there are other intellects who are attracted by the notion of centralized decision-making and sing China’s praises, seemingly without need for payment, in the same way that Nazi Germany had many ardent admirers.

Nearly 500,000 in Kentucky losing vision, dental coverage after Medicaid ruling (TS)

The federal health care law championed by President Barack Obama gave states the option of expanding Medicaid coverage to able-bodied adults. Kentucky, under former Democratic Gov. Steve Beshear, was one of 32 states that did so, and nearly 500,000 Kentuckians got Medicaid coverage as a result.

But Bevin, elected in 2015, said the program was too expensive to continue. He asked for permission to impose new rules, including charging monthly premiums and requiring at least 80 hours of "community engagement" per month, which could include working, volunteering or going to school.

Mexico’s New President Has The Energy Sector On Edge (Michael S.)

However, the energy reforms passed under President Enrique Pena Nieto were codified with constitutional changes, which throws up a very high bar for to clear for any changes, meaning that AMLO, despite his landslide victory, still faces a steep uphill battle to roll back the partial-privatization of the oil and gas sector, if he were to go down that road.

As stocks deplete, Greek fishermen send boats to scrap (edelinski)

Hundreds of fishermen like him are turning in their boats and their licences, partly because catches are down, partly because the EU and the Greek government are offering them cash to leave the trade, under a scheme to protect fish stocks.

Gold & Silver

Click to read the PM Daily Market Commentary: 7/2/18

Provided daily by the Peak Prosperity Gold & Silver Group

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2 Comments

TechGuy's picture
TechGuy
Status: Gold Member (Offline)
Joined: Oct 13 2008
Posts: 435
Re: Basic Income and AI

Richard Branson:  “I think AI will result in there being less hours in the day that people are going to need to work"

Wouldn't be be ironic is AI actually increases demand for labor? Consider that during the early 20th century, the ICE engine put millions of workers out of a job as demand for horses & horse related equipment collapsed. However ICE engines created many millions of more jobs as workers were need to operate car factories, steel mills, etc. Trucks made it easier & cheap to transport goods & ICE power farm equipment increased farm productivity. Economic growth soared due to  ICE engines.

That said, In my opinion, the biggest threats to jobs is the Oil depletion & debt, and demographics. ideally Automation could help mitigation against some of the demographic issues (ie retiring boomers). Machines can do some of the jobs boomers do as they retire. But solving the Oil depletion and debt isn't going to easy, and probably isn't going to be solved in our lifetimes.

 

 

ezlxq1949's picture
ezlxq1949
Status: Silver Member (Offline)
Joined: Apr 29 2009
Posts: 249
Peak Fishing

As stocks deplete, Greek fishermen send boats to scrap

In Australia the benighted federal government is planning vast reductions in the size of marine national parks, reserves and protected areas. Further, they propose to make it easier and faster to catch huge amounts of fish with the industrial fishing method called ‘transhipping’. Transhipping means fishing boats can stay at sea far longer, fishing more in our most remote and pristine waters. It enables Australia’s industrial commercial fishing operators to increase their catch greatly by using ‘carrier boats’ which offload catch and resupply — so they can fish non-stop.

I don't know who the government is taking advice from, but it's not from future-oriented people.

I read somewhere recently that the last catch of oceanic fish will be made in 30 years' time.

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