Daily Digest

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Daily Digest 3/14 - Facebook, Amazon and Google Have a 2020 Problem, The Tragedy Of Baltimore

Thursday, March 14, 2019, 10:26 AM

Economy

Facebook, Amazon and Google Have a 2020 Problem (Thomas R.)

Rolling Stone can report that Warren, Klobuchar, former Secretary of Housing and Urban Development Julián Castro, Rep. Tim Ryan (D-OH) and ex-Congressman John Delaney will appear on Saturday, March 30th, at the Heartland Forum in Storm Lake, Iowa, to discuss America’s monopoly problem and other rural issues and offer solutions. (Every declared and likely Democratic candidate was invited, a spokesman for the event says.)

JP Morgan escalates deposit wars with expansion into the heart of Bank of America country (Thomas R.)

"There's competition in every single one of these cities, whether it's from big banks or smaller ones," said Dan Deegan, J.P. Morgan's head of market expansion. The lender already has hundreds of thousands of retail and business customers in these markets through private banking, commercial banking and credit-card relationships, he said.

U.S. House technology panel heads seeks delay in 5G spectrum auction (Sparky1)

The FCC launched the agency’s first high-band spectrum auction for 5G in November. 5G networks are expected to be at least 100 times faster than the current 4G networks, cut delays and allow for innovations in a number of fields.

The U.S. Now Has More Millionaires Than Sweden Has People (Adam)

More than 10.2 million households had a net worth of $1 million to $5 million, not including the value of their primary residence, according to a survey by the Spectrem Group. That’s up 2.5 percent from 2017.

One thing Congress gets right: funding their own pensions (thc0655)

That’s Congress’ reward for sinking the US government $22 trillion in debt… for creating debt bubbles in housing and student loans… for utterly failing to address a broken Social Security system… for wasting billions on things like a broken Obamacare website, defending Congressmen from sexual assault lawsuits… and fighting like children during a government shutdown while millions of Americans were out of work.

Finland’s Government Collapsed Under Weight Of Socialized Healthcare (thc0655)

Reuters reports that soaring treatment costs and longer life spans have particularly affected Nordic countries. It isn’t just Finland. Sweden and Denmark face similar bleak outlooks for their socialism as well. “Nordic countries, where comprehensive welfare is the cornerstone of the social model, have been among the most affected,” according to Reuters. “But reform has been controversial and, in Finland, plans to cut costs and boost efficiency have stalled for years.”

Boeing's stock continues steep slide as more nations ban 737 MAX 8 planes (Thomas R.)

"We understand that regulatory agencies and customers have made decisions that they believe are most appropriate for their home markets. We'll continue to engage with them to ensure they have the information needed to have confidence in operating their fleets," Boeing added.

Six common themes unite the Jussie Smollett and college admissions scandals (thc0655)

Powerful people from powerful families with no concern for issues of right and wrong tried to accomplish their goals "by any means necessary." Religion — the notion the God watches over us and knows when we sin — is regarded as a quaint vestige of the past and a hindrance to achieving necessary ends, both personal and political.

Bunnies, Bombers And Butter (GE Christenson)

Yes, it has worked, but at what cost? The problem exists because dollars are debt based currency, not real money. Funny (fake) money is easy to manufacture and borrow. The U.S. government is officially TWENTY TWO TRILLION in debt and has increased debt an average of 8.9% every year since 1913. Unfunded liabilities add another $100 – $200 trillion in debt.

The Tragedy of Baltimore (tmn)

In Baltimore, you can tell a lot about the politics of the person you’re talking with by the word he or she uses to describe the events of April 27, 2015. Some people, and most media outlets, call them the “riots”; some the “unrest.” Guy was among those who always referred to them as the “uprising,” a word that connoted something justifiable and positive: the first step, however tumultuous, toward a freer and fairer city. Policing in Baltimore, Guy and many other residents believed, was broken, with officers serving as an occupying army in enemy territory — harassing African-American residents without cause, breeding distrust and hostility.

Oil Prices Spike As EIA Confirms Inventory Draw (Thomas R.)

Crude oil prices have been trending higher today on the back of falling Venezuelan and Iranian production, squeezed by U.S. sanctions, and also thanks to an update from Saudi Arabia that it plans to continue cutting its production deeper than it agreed on last December to support prices.

Oil Markets See An Explosion Of Bullish News (Thomas R.)

Meanwhile, the OPEC+ cuts remain in place, and Saudi Arabia has suggested that it would maintain output well below its required levels. As part of the Vienna agreement in December, Saudi Arabia agreed to limit output to 10.3 million barrels per day (mb/d). However, as of March, Saudi officials said that they would only produce 9.8 mb/d. More recently, Saudi Arabia indicated it would maintain the 9.8 mb/d level through April, a sign that even as oil prices inch up, Riyadh would rather err on the side of doing too much rather than too little.

As wildfires devour communities, toxic threats emerge (Sparky1)

Researchers are examining soil tested for the presence of chemical compounds in neighborhoods destroyed by the 2017 wildfire that swept into Santa Rosa, located in California’s Sonoma County north of the Bay Area, and comparing it to uninhabited land nearby where only trees had burned, Hertz-Picciotto said. In that still-uncompleted study, researchers found nearly 2,000 more chemical compounds in the soil than in uninhabited parkland nearby. Researchers are now working to identify the compounds.

The 'ecological foundations of society' are in peril, a massive UN report warns (Sparky1)

The authors say that with unprecedented action on a global scale -- including drastically cutting carbon emissions, improving water management and reducing pollution -- humans can achieve a future with less poverty and hunger while preserving the environment.

But our window for action is closing fast.

Gold & Silver

Click to read the PM Daily Market Commentary: 3/13/19

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."

13 Comments

Rodster's picture
Rodster
Status: Bronze Member (Offline)
Joined: Aug 22 2016
Posts: 44
Boeing and MCAS
If this Boeing report is true, https://www.zerohedge.com/news/2019-03-14/new-satellite-network-offered-... they could be up to their eyeballs in punitive damages. Apparently Boeing designed anti-stall software Maneuvering Characteristics Augmentation System (MCAS) for the 737 Max planes and it appears based on the satellite  data provided by Aireon LLC that both planes which crashed followed the same flight patterns.
 
Supposedly, the MCAS which is Boeing's anti-stall software thought the plane was losing lift on its wings because of a sensor malfunction and overrode the flight system and entered in a decent. The pilots tried to correct the decent and the MCAS system software overrode the pilots until the planes crashed.
 
As the ZH article points out, if Boeing knew about this, they could be in deep do-do. Ironically, Boeing made it clear that they are updating the planes software after the second fatal plane crash. Are they referring to MCAS?
 
They have $600B worth of plane orders riding on this along with all the lawyers lining up for their cut. 
v118841's picture
v118841
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Posts: 2
American Thinker

You have posted from this blog several times even though it is known to be extremely right wing and is a known questionable source.

 

https://mediabiasfactcheck.com/american-thinker/

 

thc0655's picture
thc0655
Status: Diamond Member (Offline)
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Posts: 1788
Who has?

You have posted from this blog several times even though it is known to be extremely right wing and is a known questionable source.

1. Please identify the post to which you’re referring.

2. So, should we publish a list of discredited persons and sites that should not appear here on Peak Prosperity? Who will decide what persons and sites should be banned here? What will the criteria be for banning?

3. Or, should we attempt to evaluate the content as to its accuracy and value regardless of its source? You know, because every now and then a discredited person or site might have something valuable to say. 

Just wondering.

Doug's picture
Doug
Status: Diamond Member (Online)
Joined: Oct 1 2008
Posts: 3240
credibility of news websites

If others, as I am, are concerned about the credibility of the sources from which you derive your news, you might want to go to https://www.newsguardtech.com/ and download their services.  Little icons appear on your browser screen indicating whether the particular news source you are looking at maintains standards of credibility or not.  They give you the criteria they use.  I've found it to be pretty reliable.

cmartenson's picture
cmartenson
Status: Diamond Member (Online)
Joined: Jun 7 2007
Posts: 6111
Yeah, no thanks.
Doug wrote:

If others, as I am, are concerned about the credibility of the sources from which you derive your news, you might want to go to https://www.newsguardtech.com/ and download their services.  Little icons appear on your browser screen indicating whether the particular news source you are looking at maintains standards of credibility or not.  They give you the criteria they use.  I've found it to be pretty reliable.

I vastly prefer to trust myself.  Newsguard has got some funky funding and one of the principals  (Crovitz) is a solid neocon cheerleader.  

Last thing I would personally want is to have a neocon selecting and grading the news I would seek to consume.

It seems to me that a big part of efforts like Newsguard rests on the principal that "people" cannot be trusted to be exposed to so-called fake news or non-statist approved information.  But there are important, powerful, all-caring people in government or revolving door outfits like Newsguard that will tell you what is good and what is bad to view.

Again, no thanks.  

If the spectrum is from individual freedom spanning to collectivized uniformity, I see Newsguard and other similar efforts resting far to the right, and I personally inhabit territory very far to the left.

 

sand_puppy's picture
sand_puppy
Status: Diamond Member (Offline)
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Posts: 2115
Chris, Where is your piece on Iraqs WMD propaganda blitz

Feeding into this subject is the way that "Iraq has WMDs" was sold to the US population by the MOST reliable of all newsources the NYT.   And of course, the president of the United States himself.

Chris did a write up on this years back that I thought was very very well done.  Chris, could you point it out again please?

 

robie robinson's picture
robie robinson
Status: Diamond Member (Offline)
Joined: Aug 25 2009
Posts: 1248
Whoa,

reading over JHK’s website uncovered this depressing essay. Still was a good sobering read.

http://www.catherineingram.com/facingextinction/

Uncletommy's picture
Uncletommy
Status: Platinum Member (Offline)
Joined: May 4 2014
Posts: 682
Robie and Rodster considerations

The Rodster got me thinking about the MCAS design and Robbies link to the profound results of natural organisms to their environment. If biology has taught us anything it is that life on this planet is an ongoing process subject to built-in control mechanisms that have evolved and continue to adapt to the changing environmental constraints.Rodster pointed out, quite correctly, that specific control systems (especially negative feedback controls) like the MCAS on the Boeings was probably a quick-fix and did not take into account all the unintended consequences that result from quick-fix solutions for the bigger and heavier jet engines. Evidence to this point would lead one to assume that the up and down movement of the Boeings was the pilot's attempt to correct for a situation he/they were not trained for. We all can relate to the concept of over-correction leading to disaster.

Robbie's reference to the doomsday article also highlights the obvious problems that overshoot brings with it. If we take this to the logical conclusion and apply Gaia thinking to this scenario, it appears that quick-fixes are only as good as the sensors response time to the systems set points. Nature continually adjust these setpoints and the living systems try and adjust within their potential. The cybernetic functions of nature are many and varied. The adage, "all of us are smarter than some of us" probably applies, quite rightly, in these situations. Unfortunately, when we allow for some-of-us to make decisions for all-of-us, some-of-us can pay a very heavy price even in the crash position. 

Time2help's picture
Time2help
Status: Diamond Member (Offline)
Joined: Jun 9 2011
Posts: 2914
Rachel Aliene Corrie

April 10, 1979 - March 16, 2003

 

 

westcoastjan's picture
westcoastjan
Status: Platinum Member (Offline)
Joined: Jun 4 2012
Posts: 582
Thank you for this Robie!

This article is invaluable, perfectly articulating everything I feel and believe. Sober reading with my Saturday morning coffee.

I shall be forwarding the link to others far and wide in yet another attempt, however futile it might be, to reach people in a way that will trigger the great awakeing and movement to action that is so desperately needed. In doing so I am resisting, for a little while longer, entering into a hope-free existence. I know I need to go there, and be all in. I am getting there, slowly, steadily; trying to balance being hope-free with my instinctual caring, purpose driven actions for the greater good. The ultimate goal I realize, is just as this beautiful essay said: “surrender attachment to results”. 

I know in my heart that I will never experience true joy until I can surrender that attachment, and simply act out of deep, caring love, with no expectations of results or success. This is, I think, the key universal driver that will determine the timeframe and quality of our continued existence. In that we would retain at least some small measure of control of our destiny. That is something to consider as a new approach to how one lives their life. Food for thought.

Jan

 

davefairtex's picture
davefairtex
Status: Diamond Member (Offline)
Joined: Sep 3 2008
Posts: 5866
trust someone else

Doug-

While I understand the desire for busy people to have someone else curate the Internet for them, I've been able to sort things out for myself pretty well to date.  Sometimes the crazy sites say something interesting, and sometimes the Old Reliable Newspapers end up telling us there are WMD in Iraq.

I mean, I actually found something good at Alex Jones's site once, before he got deplatformed.  And - did I mention the WMD in Iraq?  That particular lie ended up getting a whole lot of people killed, and a trillion dollars thrown down the rathole because some neocons wanted to destroy a country.  And - I'm just guessing - but your ratings service would probably have given that particular site the A-OK because it ticked all the boxes.

After all these years, I guess I trust my own judgement a lot more than someone else's.

If we add up all the things people thought were "conspiracy theories" which turned out to be factual...I'll keep trusting myself.  Keeps me sharp.

Doug's picture
Doug
Status: Diamond Member (Online)
Joined: Oct 1 2008
Posts: 3240
Wow

Quite the mix of reactions to my, I thought, reasonable suggestion of an aid in screening online sites.  I don't know where to begin.  Oh, yes I do.  I coincidentally was listening to NPR while driving around doing chores today.  I'm a fan of This American Life.  This week's show is about the Sandy Hook conspiracy theory and Alex Jones.  It should be up on its website sometime this coming week. https://www.thisamericanlife.org/  It's a good listen.

Dave, I too have been largely able to wade through the plethora of news sites to my satisfaction.  In doing so it has come to my attention that many of the sites linked by some of the devotees of this website are at best lacking in credibility and at worst conspiracy theory websites whose only intent appears to be to incite anger and hostility with their lying.  Unfortunately those sites are rarely called out on PP.  In fact some are regularly cited as reliable news sources.  The reason I suggested Newsguard is because many of the sites it cites as unreliable fit with my own experience.  

Contrary to Chris's contention that Newsguard is too right wing, many of the sites it criticizes are from the right wing.  They include Zero hedge, Breitbart, American Thinker (cited above), Drudge Report, RT.com.  As a kind of balance, they give Fox News a pass on its news, but point out that its talk shows are not news, they can loosely be considered commentary.

Yes, you did mention WMD, an incredible blunder that the Bush administration and news media generally will have to live down for a long time.  But, that was 16 years ago.  What do you have recently?  Oh wait, we musn't forget the Tonkin Gulf incident.  But, that was more than 50 years ago.  Are you suggesting that the entire breadth and depth of the major news organizations in America should be forever jettisoned because of one or two disasters?  That would be a bit like saying Donald Trump should be believed despite over 9,000 lies and misstatements since taking office, but Hillary should be forever vilified because she may have told a couple fibs in her many years under public scrutiny.  Oh yeh, we musn't forget Benghazi where she repeatedly embarassed the so-called Freedom Caucus during their hearings that were in reality no more than clown shows.

Chris, I'm not familiar with Crovitiz, but acknowledge that he does appear to be a right winger and neocon.  Newsguard also has an advisory board that probably has a lot more to do with their content than one of the investors.  I am familiar with several on the advisory board, and find them to be people who think about issues of the day, though some have conservative leanings.  I don't hold that against them merely because I may disagree with them on policy issues.  None of them are the kind of right wing loons you find in the Freedom Caucus.

Rather than dismissing Newsguard merely because of one of the principals, why don't you go to the website, read their methodology and the backgrounds of the staff and contributors?  They appear to be on my first go-over quite a varied and distinguished bunch.  I'd be interested in your take on the people who actually do the the writing and editing.

davefairtex's picture
davefairtex
Status: Diamond Member (Offline)
Joined: Sep 3 2008
Posts: 5866
just two incidents?

Its perfectly fine that you want someone to help maintain the integrity of your echo chamber and reduce cognitive dissonance.  I'm sure you aren't alone in this desire..  I prefer to let in thoughts from other places.  I even quote CNN and the NYT from time to time, when I think they're doing a news piece and have the facts on their side.

I'm really happy you have acknowledged the campaign of lying on both Tonkin Gulf, and WMD in Iraq.  Now let's go over the full array of "conspiracy theories" and see if you can pick up a pattern.

* Operation Northwoods, a conspiracy to fake attacks on US soil by "Cuba" to generate a pretext for an invasion.  Approved by the head of the JCS, rejected by Kennedy.  Would have had us invade Cuba.

* Tonkin Gulf.  Got us into Vietnam.

* Babies in Incubators.  Got us into Gulf War 1.  (NPR did a great piece on this, a comfortable 30 years after the fact.  It turns out that news organizations CAN expose conspiracy theories-turned-truth, but only long, unthreatening time afterwards.)

* WMD in Iraq.  Got us into Gulf War 2.

* Office Fire Destroys Skyscraper.  Helped get us to pass the Patriot Act, widespread spying on Americans, and also got us into Afghanistan.

Oh sure, that last one hasn't moved from theory into fact yet.  But I'm sure, like Tonkin Gulf, everyone will accept it as fact maybe 20 years from now, and NPR will do a nice piece on how Office Fires Can't Destroy Skyscrapers After All.  (Duh!)

* "Syrian Government Chemical Attacks" which led to missile strikes

* Maduro is a Really Bad Man - which appears to be leading to an invasion of Venezuela and Regime Change, a failed state, and a Libya/Syria-like flood of refugees pouring into neighboring countries.

If you haven't noticed the trend yet, I'll lay it out for you.

If it leads to bombing some other country, the mainstream press is for it.  Every single one of our wars has been A-OKed by the press.  Arguments against said wars were labeled as conspiracy theories at the time.  It took 20-50 years for them to become acknowledged as fact.  I didn't realize this at the time, but now?  I'd be an idiot to ignore the pattern.

I'd like a checkbox item for Newsguard.  "Did the organization largely approve any of following past stories that led the nation into war?"  Weight that at 50%.  War and peace are probably the most critical stories to get right, after all.  If they added this checkbox, most news outlets would get failing grades.

So yeah.  I read conspiracy sites.  A lot of what they say is full of crap, but they also - guaranteed - are telling the truth about some events that it will take 50 years for the mainstream press to be able to acknowledge as fact.

And people like you will say, in 50 years, "well gosh, sure they got that one old story about the skyscraper wrong...but they certainly don't do that anymore."

 

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