Daily Digest

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Daily Digest 11/10 - Debt Ceiling Will Be Set To Record High, Social Media Increases Depression and Loneliness

Saturday, November 10, 2018, 3:14 PM

Economy

Debt ceiling will be set to record high of $22 trillion, fund government to just summer (Adam)

“Our long-term debt path is reckless and potentially dangerous for the future of our economy, but the debt limit in its current form carries unacceptable costs and risks,” Shai Akabas, economic policy director at BPC, said. “It’s also proven to be an unsuccessful playbook for debt reduction. The American people have seen this movie before, and we should demand a different ending.”

China’s Central Bank Ready to Tackle ‘Profound’ Economic Changes (Adam)

“External conditions are undergoing profound changes, downward pressures are increasing, some companies are seeing more difficulties in their operations, risks accumulated over the long term are being exposed,” the People’s Bank of China said in its quarterly monetary-policy report published late Friday. The bank will “preemptively adjust and fine-tune policies according to the changing conditions.”

Million-dollar homes: The number surges as home prices rise. Many are in California (Adam)

They include San Jose, California, whose median value rose from $930,900 to $1.09 million; Fremont, California ($966,000 to $1.13 million); Burbank, California ($845,700 to $1.01 million); Newton, Massachusetts ($977,200 to $1.07 million); and Shelter Island, N.Y. ($903,500 to $1.15 million)

Dmitry Orlov Gives an Interview (thc0655)

Oh, the vast tide of humanity will certainly never have this conversation, and that’s a good thing, because we can waste all sorts of time talking about generalities and never get to discussing simple, plain, basic things that actually figure in people’s lives. It isn’t possible to process ideas as generalities; it is only possible to process them as specifics. That’s why I don’t really contribute to this doomerish discussion. It’s not interesting.

Save Us From Freedom! (newsbuoy)

It’s a question that should never need to be posed, and indeed never would have been had some betrayal of the divine nature of humanity not taken place, many thousands of years ago. After all, the spirit infused natural make-up of mankind provided all the fuel needed to guide us on our way to the full expression of our potentiality as universal beings. Yet a deviation from this path was established, and has proved to be a strong opiate – a formidable obstacle to the spiritual evolution of our species.

The West is Failing Julian Assange (newsbuoy)

Having spent the last 3 years fighting in four jurisdictions – Sweden, the UK, Australia and the U.S. – to access the full documentation on the Assange and WikiLeaks case under FOIA, I have acquired a few documents which leave no doubt as to the role played by UK authorities in contributing to create the legal and diplomatic quagmire which is keeping Assange confined to the embassy. Why have the UK authorities done this? What special interest, if any, do they have in the Assange case?

USA Has Become Oligarchy (John J.)

Finally they conclude, “…Our analyses suggest that majorities of the American public actually have little influence over the policies our government adopts. Americans do enjoy many features central to democratic governance, such as regular elections, freedom of speech and association, and a widespread (if still contested) franchise. But we believe that if policymaking is dominated by powerful business organizations and a small number of affluent Americans, then America’s claims to being a democratic society are seriously threatened.”

Almost Half of Big U.S. Banks Are Failing to Satisfy Fed Supervisors (Adam)

Despite some of the shortcomings revealed in the report, Fed Vice Chairman for Supervision Randal Quarles pointed out at a Washington event earlier in the day that “all the data would show that it’s a very healthy industry.” He and other regulators appointed by President Donald Trump have been revising regulations put in place after the 2008 financial crisis, seeking to reduce capital burdens, dial back stress-test demands and rewrite Volcker Rule limits on banks’ ability to bet with their own capital.

Towards 5G communication systems: Are there health implications? (newsbuoy)

Preliminary observations showed that MMW increase skin temperature, alter gene expression, promote cellular proliferation and synthesis of proteins linked with oxidative stress, inflammatory and metabolic processes, could generate ocular damages, affect neuro-muscular dynamics. Further studies are needed to better and independently explore the health effects of RF-EMF in general and of MMW in particular.

Social media use increases depression and loneliness, study finds (Adam)

Each of 143 participants completed a survey to determine mood and well-being at the study's start, plus shared shots of their iPhone battery screens to offer a week's worth of baseline social-media data. Participants were then randomly assigned to a control group, which had users maintain their typical social-media behavior, or an experimental group that limited time on Facebook, Snapchat, and Instagram to 10 minutes per platform per day.

Punishment isn’t about the common good: it’s about spite (tmn)

After all, punishment doesn’t always promote the greater good. It’s been used to oppress minorities, foster discrimination, exploit disadvantaged groups, maintain sexist and racist social norms, and keep subjugated populations in line. In experimental setups, ‘antisocial punishment’ has been observed, in which cooperative individuals are punished by others because they contributed to a public good. Punishment can be detrimental, even in the long run.

Camp Fire is most destructive wildfire in California history: 9 dead, 6,713 structures incinerated (tmn)

By Friday evening, the fire had incinerated 6,453 homes and 260 commercial buildings in and around Paradise. The blaze was only about 5 percent contained and was threatening another 15,000 structures. Some 52,000 people remained evacuated from various towns. Authorities expect the death toll to increase in the coming days.

Glut of cranberries in Wisconsin means 25% of crop could be discarded (Sparky1)

“It’s a sign of how bad of shape the industry is in, that they’re actually using crop destruction to try and help farm income,” Mitchell said.

“It’s the best choice they face, but it’s not the choice they want,” he added.

Gold & Silver

Click to read the PM Daily Market Commentary: 11/8/18

Provided daily by the Peak Prosperity Gold & Silver Group

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