Daily Digest

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Daily Digest 3/8 - The Seeds Of Destruction, OR First State To Ban Coal-Fired Power

Tuesday, March 8, 2016, 11:00 AM

Economy

News of the Bizarre: Venezuelan Central Bank Sues Website for Causing Inflation (Aaron M.)

Venezuela is a terrible mess and is obviously looking for targets to blame. According to the Venezuelan central bank, the dolartoday.com website has pushed up the country’s triple-digit inflation lying about exchange-rate data to make the situation seem even worse than it is. Only a central bank could blame a website for monetary and price inflation that would not exist without central bank printing presses.

PDAC 2016: Don Coxe sees pension funds driving gold prices higher in bondholder backlash (PBD)

Yields could go even lower if more central banks opt for negative rate policies. In a report last month, Citigroup said that a handful of central banks are likely candidates to adopt negative rates in the next couple of years, with Israel almost guaranteed to go negative later this year.

Helicopter Money Comes To Canada: Ontario Pledges "Basic Income Experiment" (PBD)

Some readers were reluctant to buy this rationale, but the fact is, just because the bank intermediary failed to do its part for Main Street doesn’t thereby mean this entire experiment isn’t still a farce. Think about the mechanics of it: 1) the government prints a liability (a bond), 2) that liability is sold to a primary dealer, 3) the central bank buys that government liability with yet another liability (dollars) that the government also prints.

The Seeds of Destruction (Tiffany D.)

Economists (like me) take a wider perspective. We tend to focus on markets as aggregates rather than on individual firms. We also see government as an economic actor in its own right, providing public goods and other essentials that markets don’t because of externalities and market failure. We know the “logic” of government leads it to overreach, but most of us don’t imagine that we can live without it.

How Amazon Shames Warehouse Workers for Alleged Theft (jdargis)

Theft is a persistent concern for Amazon, with warehouses full of small but valuable items and a workforce with high turnover and low pay. Workers interviewed for this story say the range of thefts posted on the screens is as varied as the company’s sprawling catalog: DVDs, an iPad, jewelry, a lighter, makeup, a microwave, phone cases, Pop Rocks, video games. Several recall a post about an employee fired for stealing a co-worker’s lunch.

More Latinos Seek Citizenship to Vote Against Trump (jdargis)

While naturalizations generally rise during presidential election years, Mr. Trump provided an extra boost this year. He began his campaign in June describing Mexicans as drug-traffickers and rapists. His pledge to build a border wall and make Mexico pay for it has been a regular applause line. He has vowed to create a deportation force to expel the estimated 11 million immigrants here illegally, evoking mass roundups of the 1950s.

Clinton Voters Like Obama More Than Sanders Supporters Do (jdargis)

But where some observers have stressed the continuities with the 2008 nomination fight, others see the opposite: a role reversal. In this take, Clinton has inherited the coalition that vaulted Obama to the presidency. While black voters were a crucial source of support for Obama in 2008, they’re rallying behind Clinton this year in similarly impressive numbers. Geographically, Clinton’s 2016 support looks like the inverse of her 2008 performance. In 2008, she won New Hampshire and Oklahoma while losing Iowa, South Carolina, Virginia and much of the South; in 2016, she has done the precise opposite.

Oregon To Be First U.S. State To Ban Coal-Fired Power (Josh O.)

Coal provides about a third of Oregon's electricity, but most of it is imported from Utah, Montana and Wyoming. The state only has one operating coal-fired power plant, the 36-year-old Boardman facility supplying about 550 megawatts, but it is due to shut down by 2020.

State Republicans criticized the bill as leading to higher electricity costs for households but Pacific Power, a large Oregon utility, answered that the move to renewables would only raise costs by less than 1 percent by 2030, the newspaper said. The other major utility in the state, Portland General Electric, also backed the deal.

Gold & Silver

Click to read the PM Daily Market Commentary: 3/7/16

Provided daily by the Peak Prosperity Gold & Silver Group

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2 Comments

Tall's picture
Tall
Status: Platinum Member (Offline)
Joined: Feb 18 2010
Posts: 564
Home food production: metal contamination of soil and well water

Metals for your consideration:

Portland, Oregon gardeners are concerned about newly reported arsenic, cadmium and chromium-contaminated soil from old industrial sites:

http://civileats.com/2016/03/08/what-portlands-soil-crisis-can-teach-us-...

 

Lead arsenate is a (primarily) pre WW2 insecticide used in fruit orchards.  A soil test may be warranted if you have such a site.

http://datcp.wi.gov/uploads/Environment/pdf/ArmPub99.pdf

 

Arsenic can be a natural water contaminant that is difficult to remove, but may contaminate drinking water and food crops: "Because arsenic is so complex, removing it from water is a difficult process. Three water treatment systems noted for arsenic removal: reverse osmosis (RO), adsorption media and distillation. RO systems and adsorption media are only partially effective at arsenic removal while distillation — although sometimes overlooked — is clearly superior at arsenic removal from water. "

http://www.watertechonline.com/arsenic-the-great-chameleon/

 

Edwardelinski's picture
Edwardelinski
Status: Gold Member (Offline)
Joined: Dec 23 2012
Posts: 309
The Obama Doctrine:

The Atlantic just published a piece that some of you may find of interest.

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