Daily Digest

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Daily DIgest 9/13 - Anger Mismanagement, UN Warns Of "Existential Threat" To Humanity

Thursday, September 13, 2018, 6:54 AM

Economy

Oregon just became the first state to legalize mass timber high-rises, and it could lead to a boom in tall wood buildings (Adam)

The waterfront neighborhood, called Quayside, could become the largest mass timber development in the world. It is expected to cost about $1 billion, and it will also feature heated roadways and other innovations.

Quayside's buildings have been designed to include green roofs for improving sustainability. Sidewalk Labs wants the buildings to be modular, saying this would cost as much or less than conventional buildings.

Gold, Currency IOUs and Inflation (GE Christenson)

The quantity of debt and circulating debt based currencies has increased exponentially (doubles every 10-11 years) for decades. $44 trillion of debt in 2018 will rise to $100 trillion and then $200 trillion. What happens when another $50 trillion in debt is created in the next decade?

Anger Mismanagement, by Robert Gore (thc0655)

All this while economies are still supposedly expanding. $250 trillion in direct global debt and $1 quadrillion or more in derivatives and unfunded liabilities hang like a dagger over the world economy and financial system. Most income streams and assets are pledged as security for debt repayment, every debtor’s debt is a creditor’s asset in the interlinked global financial system, global debt is at an all-time high, and the finance industry is more concentrated than it was in 2008. It won’t take much for a financial brush fire to become a roaring conflagration.

Elon Musk smoking weed has much more dire consequences than you realize (thc0655)

We’re starting to see major cracks in tech investors’ faith.

This is a MAJOR turn that’s taken place over the last couple of months. And if tech stocks go down, the market is going with it.

Gas Could Overtake Oil As The Largest U.S. Energy Source This Year (Paul D.)

As a result of this quick rise of gas to prominence, oil demand, DNV GL believes, will peak around 2023, with the shift away from oil also supported by the higher adoption of electric vehicles. The firm’s VP for oil and gas, however, noted that the analysis was more upbeat on EVs than what other researchers predict in the area.

6 Years Ago, North Carolina Chose To Ignore Rising Sea Levels. This Week It Braces For Disaster. (Paul D.)

In 2012, North Carolina legislators passed a bill that barred policymakers and developers from using up-to-date climate science to plan for rising sea levels on the state’s coast. Now Hurricane Florence threatens to cause a devastating storm surge that could put thousands of lives in danger and cost the state billions of dollars worth of damage.

Warning of 'Existential Threat' to Humanity, UN Chief Says Climate Change 'Moving Faster Than We Are'

Calling the Paris climate agreement the "bare minimum," Guterres pointed out that states who support the accord—every nation on the planet but the United States, thanks to President Donald Trump's decision to bail on it last year—are failing to live up to its inadequate goals.

UN says more worldwide going hungry, blames climate change (Paul D.)

Beasley said if the world is failing today with a population at 7.5 billion and all the wealth and technology that is available, "wait until people 30 years from now — when we have 10 billion people, when people in London, in Washington, D.C., and Chicago and Paris — when they don't have enough to eat."

Gold & Silver

Click to read the PM Daily Market Commentary: 9/12/18

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."

8 Comments

saxplayer00o1's picture
saxplayer00o1
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Posts: 4222
$250 Trillion in Debt: the World's Post-Lehman Legacy

$250 Trillion in Debt: the World's Post-Lehman Legacy

Bloomberg-4 hours ago
Global debt has ballooned over the past two decades: from $84 trillion at the turn of the ..... Sovereign governments, meanwhile, are in uncharted territory.

Why Americans still feel financially unwell 10 years after crash

Financial Times-10 hours ago
By the end of July, according to Mercer, the consultancy, the aggregate deficit of pension plans for companies in the S&P 1500 index came to $193bn, so this is ...

India's Shadow-Bank Bust Has a Lehman Echo

Bloomberg-13 hours ago

That's only to be expected: On the hook for the group's $12.5 billion debt are banks and mutual funds. (IL&FS itself is a motley collection of shadow lenders that .

Holes in Swiss property market ring mortgage alarm bells

Nasdaq-5 hours ago
"Many private (investors) are taking on a lot of debt." ... covering the value of the loans, which would imply outright losses for the bank in the event of default.".

 

sand_puppy's picture
sand_puppy
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Joined: Apr 13 2011
Posts: 2013
White helmets filming in Syria

Time2help's picture
Time2help
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Posts: 2872
Re: White helmets filming in Syria

And...Action!

 

Wendal's picture
Wendal
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Posts: 32
Misattribution

Note that the story about gas overtaking oil was misattributted to me (Paul D.) The story about the UN Secretary-General was actually my submission.

Speaking of which - the UN Secretary-General announces that climate change poses an "existential threat" and it's not headline news all over the media? In fact, I don't even recall seeing it mentioned at all on the evening news shows.

Sad. Donald Trump sad.

rhare's picture
rhare
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Posts: 1329
More useless distractions from the real issue
article submitted by Wendal wrote:

 UN says more worldwide going hungry, blames climate change

More political virtue signaling.  Let's see perhaps it's not climate change since food production has steadily increased every year.  Perhaps the problem is the extra 132 million people added in the last year!

All this worry over climate change is useless.  No amount of effort to make change will have any significant impact without tackling the population problem. 

Wendal wrote:

  Sad. Donald Trump sad.

Really, just like those blaming a huricane on him. Perhaps it's time to wake up from the partisian crap and stop being a useful tool for the state and those that have created much of this mess, the UN being a key player.

HL Mencken wrote:

The urge to save humanity is almost always a false front for the urge to rule.

 

sand_puppy's picture
sand_puppy
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Live Hurricane Cam

Cam location is here:

Wendal's picture
Wendal
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Posts: 32
Misinterpretation

Suggesting stories about climate change does not necessarily imply that one doesn't care about other issues, such as population growth.

Indeed, I've always felt that one strength of the Peak Prosperty/Crash Course approach was drawing attention to the constellation of problems that concurrently threaten us, as per the multiple "exponential charts" that C.M. illustrates in the Crash Course.

I totally agree that there are numerous, simultaneous trends that are converging to create a "predicament" for us all (as opposed to a "problem") - and that population is possibly the ultimate "foundational" issue underlying everything else.

There just aren't many news stories about it on a day to day basis that might give rise to "Daily Digest" submissions.

As for the H. L. Menkin quote, while again not something I would disagree with (depending on the context) - but is the implication that the whole Peak Prosperity paradym is guilty of this charge as well?

Finally, there's "sad". And there's "very sad". And "extremely sad". And there's even "unbelievably sad". And then there's "Donald Trump sad" - a degree of "sadness" that exceeds all the others.

rhare's picture
rhare
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I prefer voluntary cooperation not force
Wendal wrote:

  As for the H. L. Menkin quote, while again not something I would disagree with (depending on the context) - but is the implication that the whole Peak Prosperity paradym is guilty of this charge as well?

No, because peakprosperity promotes voluntary cooperation with your fellow humans.  The key thing being voluntary change and cooperation.  Governments and those that want to rule are the opposite, they are violence via proxy.  You may call it taxes and voting, but it's really use of force (violence) against your neighbors to enforce your beliefs.  There is a time and place for use of force, but it's far too easy to hide behide a proxy and weild that force with little thought.  If you are not willing to commit violence against someone to make them comply then please don't ask someone else to do it for you (ie. government).


Wendal wrote:

Finally, there's "sad". And there's "very sad". And "extremely sad". And there's even "unbelievably sad". And then there's "Donald Trump sad" - a degree of "sadness" that exceeds all the others.

Really? I'm betting the picture of the starving child in the article has a bit more of a realistic understanding of sadness!

So exactly what has he done that has illicited so much scorn that the past presidents haven't done?  We're you equally as sad about the last president who dropped 3 bombs/hour average over his entire presidency?  Perhaps this one just needs to drop a few more to get a Nobel Peace prize.

That's why I called you out for the partisanship, because if it was really about the issues you would recognize that Trump is no different than Obama or Bush or Clinton.  They all just want to be rulers.  At least Trump has shaken things up a bit and clearly with the large Media/War machine so against him he must be doing something right.  At least he has questioned our use of force and involvement in wars around the world, it would be nice if he would actually put a stop to them, but alas the war mongers continue to win.

Also, while you demonize him, keep in mind that he has a 50% approval rating.  So is that 50% of the population just as awful?  Are you willing to crush 50% of your fellow neighbors, or perhaps it's better to get off that propaganda/hate filled band wagon?

I'll leave you another Mencken quote:

H.L. Mencken wrote:
On some great and glorious day the plain folks of the land will reach their heart's desire at last, and the White House will be adorned by a downright moron.

I would say we have been wildly successful for the last 50+ years!

While it sounds like Mencken was a truely awful man, even those that are awful can be right a lot of the time and say very unpopular things.  

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