Daily Digest 3/3 - Sequester Will Be ‘Slow Grind’ on Economy, Spill In China Underlines Concerns
The current monetary system has a debt foundation, which is collapsing in lockstep with the rapid breakdown in the sovereign bond market. The last four years have seen a long drawn-out unstoppable process, where the collapse cannot be avoided and must happen. The pathogenesis is obvious to those in the Sound Money camp. The blossom of corruption and complete banker criminal immunity has only hastened the urgent need for the collapse. The cadaver in Intensive Care cannot be revived with more intravenous applications of contaminated money, the body dead since September 2008. Insolvent systems rush to the crash zone, where efforts can only delay the outcome.
In his latest interview, Rick Rule shares extraordinary insights based on four decades of investing in the resource markets. In this article, we picked out two topical and highly relevant questions which Rick Rule answers. First, is it wise to sell some gold and silver in order to move into platinum and palladium? Second, with (expected) inflation and real negative rates, is it smart to hold cash?
“You have to adapt,” said Ramón Estalella, the secretary general of the Confederation of Spanish Hotels and Tourist Accommodations, commonly known as Cehat. “The problem with the paradors is that they have not adapted to the market, to the ways of the tourism industry today. They need a changing mentality.”
The across-the-board cuts, known as sequestration, were intended to be so onerous that Congress and the president wouldn’t let them occur and would come up with a plan to replace them. Instead, Democrats and Republicans deadlocked on an alternative. Obama insists that any plan must include new tax revenue and Republicans, led by House Speaker John Boehner, reject that approach.
Visit the market halls of Budapest and it is not hard to see why. Sure, there are some vegetables. But they are far outnumbered by sweet pastries, fatty sausages and thick slabs of lard, eaten for breakfast with onions. Nearly two-thirds of Hungarians are overweight or obese, and the country has the highest per capita salt consumption in the European Union.
The conflict over the Changzhi spill has drawn attention to the growing problems with water use and pollution in northern China. The region, which has suffered from a drought for decades, is grappling with how industrial companies should operate along rivers. Local officials are shielding polluting companies and covering up environmental degradation, say environmentalists.
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