Daily Digest

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Daily Digest 1/10 - Flint's Water Crisis, How Debt Conquered America

Sunday, January 10, 2016, 6:44 AM

Economy

How Debt Conquered America (Don R.)

It does not require Napoleonic genius to grasp the fact that the “hand that gives” can load more debt onto the 99% than they can ever possibly repay. This is not a mistake or a “conspiracy”; it is simply a business plan. For every citizen’s $200,000 share of debt, some other entity or citizen expects to collect $200,000 plus interest. Will such a business plan succeed? Ask a Taino or a Wampanoag – if you can find one handy.

It's A Xanax World (Nate)

The U.S. government has current outstanding debt of approximately $16 Trillion or close to 100% GDP. The present value, however of Medicaid ($35 trillion), Medicare ($23 trillion), and Social Security ($8 trillion) promised under existing program totals $66 trillion or another 400% of GDP. We are broke and don’t even know it, or to return to my opening analogy, we are having our cake, eating it at the same time and believing that a new cellphone app will be invented in the near future to magically deliver more of the same. Not gonna happen folks.

Why ISIS Cannot Be Negotiated With (jdargis)

Powell’s key example is the Irish Republican Army, which was a Catholic organization insofar as it used Catholic identity for political ends, cultivating a sense of Irish Catholic nationalism to fight for the ejection of the British from Northern Ireland and for political union with their Catholic brethren to the south. But the IRA was not trying to conquer the whole of the British Isles for Catholicism, nor to hasten the return of the Christian messiah and the end of the world. Powell, who was the chief British negotiator in Northern Ireland when the Good Friday Accords helped bring an end to decades of violence in the country, notes that “when we sat down with the Republicans ... we found that there were a series of legitimate subjects they wanted to discuss—from power-sharing between Catholics and Protestants to the protection of human rights.”

China’s Hunger for Commodities Wanes, and Pain Spreads Among Producers (jdargis)

For years, China voraciously gobbled up all manner of metals, crops and fuels as its economy rapidly expanded. Countries and companies, fueled by cheap debt, aggressively broadened their operations, betting that China’s appetite would grow unabated.

Now everything has changed.

The Opportunity in the Jobs Report (jdargis)

Many more people need jobs than the low unemployment rate would suggest. Some aren’t included because they haven’t sought work in the past month. Others are stuck in part-time jobs. Accounting for all those who are likely to rejoin the labor force or who want full-time work, it would still take about 1.8 million jobs to get the unemployment rate down to 4.9 percent -- the level that Fed officials consider full employment.

Flint Wants Safe Water, and Someone to Answer for Its Crisis (jdargis)

“It’s ridiculous we have to live in such a way,” said Colette Brown, a Flint native who months ago stopped drinking tap water. She said the filter at her home needed a replacement cartridge.

Gold & Silver

Click to read the PM Daily Market Commentary: 1/8/16

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."

4 Comments

Time2help's picture
Time2help
Status: Diamond Member (Online)
Joined: Jun 9 2011
Posts: 2767
Does this look normal? Anyone?

Time2help's picture
Time2help
Status: Diamond Member (Online)
Joined: Jun 9 2011
Posts: 2767
DP

Sneaky NSA...you guys rock wink.

Time2help's picture
Time2help
Status: Diamond Member (Online)
Joined: Jun 9 2011
Posts: 2767
Stand down

False alarm. Looks like the PPT has bought it back to unch.

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Nadine and Charles

 

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