Daily Digest

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Daily Digest 6/16 - Dry Farming In CA, Why Doesn't Canada Have Food Stamps?

Monday, June 16, 2014, 9:58 AM

Economy

Andy Hoffman: Negative Interest Rates Signal Final Currency War (pinecarr)

This is a major alarm bell for everyone and a major inflection point. Now, the central banks have dared go where even the Bank of Japan has not gone, which is to take rates to a negative level. You can’t go lower than negative. You go too negative, and people realize it doesn’t work, and people realize there is nothing left. Let’s face it, the European economy by all quantitative measures is at its low point since the EU started in 1999. In our lifetime, we have record unemployment and record debt. What these countries are trying to do is destroy their currencies in what I call the ‘Final Currency War.’

There are not enough resources to support the world's population (Arthur Robey)

The UK government’s chief scientist and the last president of the Royal Society have highlighted the imminence of a ‘perfect storm’: water, food and fossil fuel scarcity. Reliable reports on the planet's health such as The United Nations' Global Environment Outlook have found water, land, plants, animals and fish stocks are all 'in inexorable decline'.

FOR SALE: 29,656.51306529 bitcoins (Yoxa)

The deposit of the winning bidder will be retained by USMS and credited towards the purchase price. If the winning bidder fails to close on the transaction through no fault of the USMS, the winning bidder will irrevocably forfeit his/her/its deposit to the USMS. The deposit of any bidder whose bid is not selected as a winning bid will be returned by wire transfer to the original account from which the deposit was received.

Starbucks to Provide Free College Education to Thousands of Workers (jdargis)

In a low-wage service industry, Starbucks has for decades been unusual, doing things such as providing health insurance, even for part-timers, and giving its employees stock options. (Like other food and drink chains, it has also been accused of using improper tactics in fighting unionization drives.) Whether in spite of those perks or because of them, the company has been highly successful; its stock, which closed Friday at $74.69, has grown in value more than a hundredfold since it went public in 1992.

Supreme Court Denies Appeal by Argentina in Debt Case (jdargis)

Argentina replied that it would try to comply but that another default would be a live possibility given the overall sums at stake for all holdout bondholders.

“Since Argentina lacks the financial resources to pay the holdouts in full (what would amount to $15 billion) while also servicing its restructured debt to 92 percent of bondholders,” the country’s lawyers wrote, “Argentina will have to face, objectively, a serious and imminent risk of default.”

Hey Canada, Why Don’t You Have Food Stamps? (jdargis)

Sheedy herself has an intimate understanding of the Canadian government’s generosity. When she arrived in Vancouver as a young, unemployed college grad, she could have easily ended up homeless. Luckily, she qualified for enough money from British Columbia’s government to get herself on her feet. That provincial aid is part of Canada’s generous safety net of programs known as social assistance, often delivered in the form of checks direct-deposited to those in need. I know there are more than a few SNAP recipients here in America who would kill for some free money—but would they do so at the expense of government-subsidized food? With programs like EBT at farmers markets that double SNAP’s value, recipients are often stretching their—albeit—horribly limited allotment too thin.

Thirsty West: The No-Water Way (jdargis)

During my recent monthlong drought-themed road trip for Slate, I heard farmers blaming cities and cities blaming farmers for the ongoing water crisis. In fact, it was probably the most common attribution of blame for the drought I heard, above even the lack of rainfall itself. It’s clear that both sides think the other is wasting water. To investigate, I sought out an interface of the urban-rural divide on water issues: a farmers market in Oakland.

'Suspicious device' explodes at Nogales power plant (Wendy SD)

FBI and ATF agents responded to a Nogales power plant after a makeshift bomb went off Wednesday.

Gold & Silver

Click to read the PM Daily Market Commentary: 6/13/14

Provided daily by the Peak Prosperity Gold & Silver Group

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saxplayer00o1
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