Daily Digest

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Daily Digest 8/23 - Ten Years After The Crash, OR Earthquake Sparks Concerns

Thursday, August 23, 2018, 10:36 AM

Economy

The 2008 financial crisis never really ended (tmn)

With the wisdom of hindsight, Tooze believes the critical intervention that mitigated the crisis was not the bank bailouts or central bank asset-buying programs but rather “unprecedented transnational action by the American state” to pump dollars into banks all over the world.

Ten Years After the Crash (jdargis)

At first, American institutions responded with signs of health: the Federal Reserve stopped the free fall of the biggest banks; the press uncovered corruption and fraud; and a bipartisan Congress passed legislation to get credit flowing and rescue the financial sector. Then the electorate turned out the party in power. The financial crisis decided the election of 2008. Americans who might never have imagined themselves choosing a black President voted for Barack Obama because he understood the scope of the disaster and offered hope for a remedy.

Venezuela And Trinidad Struck By Massive, 7.3 Magnitude Earthquake (Thomas R.)

Kevin Farrick, a marketing consultant from Port-of-Spain, initially mistook his rocky commute home as car trouble. But once he glanced up to see the traffic lights flashing and lamp posts swaying, he realized it was more than just a bumpy ride.

Oregon earthquake – Massive 6.3 magnitude tremor rocks US West Coast sparking fears ‘the Big One’ WILL hit America (Thomas R.)

Fears are now growing California's "Big One" could be on the way - a 9.0 magnitude earthquake that would tear through the West coast of the US and cause a tsunami.

White farmers try to offload land in South Africa before it's seized (thc0655)

AgriSA union spokeswoman Annelize Crosby told the paper: 'What makes the Akkerland case unique is that they apparently were not given the opportunity to first dispute the claim in court, as the law requires.'

If the land is seized it will be the first time that the South African government has refused to pay market value for land.

New research suggests evolution might favor 'survival of the laziest'

"We find if you look at overall communities, and all the species that make up those communities, the average metabolic rate for the community tends to remain unchanged over time," Strotz said. "There seems to be stasis in communities at the energetic level. In terms of energy uptake, new species develop—or the abundance of those still around increases—to take up the slack, as other species go extinct. This was a surprise, as you'd expect the community level metabolic rate to change as time goes by. Instead, the mean energy uptake remains the same over millions of years for these bivalves and gastropods, despite numerous extinctions."

Paul Singer, Doomsday Investor (jdargis)

On the line was a man named Jesse Cohn, who worked for the hedge fund Elliott Management. Cohn said that he was calling as a courtesy, to give Bush a “heads-up” that Elliott had amassed a 9.2-per-cent holding in Athenahealth and was now one of its largest shareholders. It wasn’t unusual for a major shareholder to talk with the C.E.O., but this interaction, Bush thought, had a menacing tone. Although he wasn’t familiar with Elliott Management, an unsettled feeling came over him.

Brazil’s Opposing Energy Views (Michael S.)

The vast majority of Brazil’s energy production is hydropower, clocking in at 63.7 percent of the total energy generated in June. The second biggest source of renewable energy comes from biofuels produced at biomass plants which use materials such as sugarcane bagasse, rice husk, and wood waste to make organic fuels. Wind farms accounted for another 8.1 percent of the energy produced in June, and solar clocked in at just one percent (although the solar sector is already showing signs of growth).

The mysterious purple ribbon in the sky that's confusing scientists (Thomas R.)

An aurora is created by charged particles produced and discharged by the sun during a solar flare. The particles crash into the atoms and molecules in the Earth's atmosphere, resulting in photons (tiny bursts of light) which form the colorful aurora.

Gold & Silver

Click to read the PM Daily Market Commentary: 8/21/18

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."

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saxplayer00o1
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Investors demand fat yields for Illinois' $968 mln bonds

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The state is using some of the bond proceeds to redeem its only outstanding variable-rate debt and pay swap termination fees to four banks. The $600 million of ...

 

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