Daily Digest

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Daily Digest 4/7 - Global Military Spending Increasing, Trump Unbound

Thursday, April 7, 2016, 6:46 AM

Economy

Insulin Costs Have Tripled In Just 10 Years (lambertad)

Insulin’s cost spike comes alongside an increase in prescribed doses, which likely occurred because people are getting even more obese, which not only increases the risk of diabetes, but in turn increases the amount of insulin a person needs. Those with Type 1 diabetes, which is unrelated to obesity, need insulin injections to stay alive. Doctors prescribe the hormone for patients with advanced Type 2 diabetes as well, though, to control blood sugar and help prevent damage throughout the body, usually after diet, exercise, and other medications have failed.

It’s Been Twenty-Five Years Since Restaurant Workers Got a Raise (richcabot)

Twenty-five years is a long time to go without paying a significant portion of your workers—servers, bussers, hosts, bartenders—at least the minimum wage, let alone a wage that enables a family to make ends meet. And as a result, servers are twice as likely to need food stamps than the rest of the U.S. workforce, and three times as likely to live in poverty. The restaurant industry now includes 7 of the 10 lowest paying jobs in the country.

Global military spending is increasing (jdargis)

“There’s a possibility that this is a transitional year.” Fleurant added. If spending continues to rise, it would make the decreases between 2011 and 2014 insignificant, she said. Fleurant noted, however, that the evidence was not clearcut, because some countries boosted spending due to conflicts while others cut spending due to economic pressures.

Wage Growth Remains an Issue for Millennials (Tiffany D.)

According to the Census Bureau’s data, 2015 marked the first year in which there were more millennials (75.3 million) than baby boomers (74.9 million). And the ranks of baby boomers in the workforce thin each day, as another 10,000 or so people hit age 62, qualify for Social Security and plan their career exit to retirement.

Trump Unbound (richcabot)

“I know the Wall Street people probably better than anybody knows them,” said Trump, who has misfired on such predictions in the past. “I don’t need them.”

Those last five words are what has the Washington GOP establishment in a cold sweat. The fact is, the Washington based apparatus of the GOP is beholden lock, stock and barrel to Wall Street and the broader financial services industry for sustenance. That is, PAC funds and the K-street influence peddling rackets which make life in the Imperial City so copasetic for careerist politicians and their apparatchiks.

Panama Papers: Obama, Clinton Pushed Trade Deal Amid Warnings It Would Make Money Laundering, Tax Evasion Worse (Michael W.)

Even while Obama championed his commitment to raise taxes on the wealthy, he pursued and eventually signed the Panama agreement in 2011. Upon Congress ratifying the pact, Clinton issued a statement lauding the agreement, saying it and other deals with Colombia and South Korea "will make it easier for American companies to sell their products." She added: "The Obama administration is constantly working to deepen our economic engagement throughout the world, and these agreements are an example of that commitment."

Gold Once Again Proves To Be The Best Defense Strategy (Taki T.)

The last gold bull run was between 1999-2011, from its 1999 low of USD 252.8 to the record high of USD 1’895 seen in September 2011. The price rally back then was driven by strong emerging market growth supporting consumer demand, and was characterized by a flight to quality and later a need for security, which was reinforced by the global financial crisis and the debt bubble. Central banks purchases after the global financial crisis also certainly helped boost the gold price during that phase. Driven by their objective to diversify foreign reserves, central banks purchased 588.4 metric tons in 2015 – those represented 14% of total bullion demand, according to the World Gold Council.

Oil Edges Up After Biggest Draw In U.S. Crude Stocks This Year (Josh O.)

Finally, yesterday we looked at the surreal situation of negative interest rates in Japan. A low interest rate environment prevails across the globe, with the yield on the BAML global bond index down to 1.3 percent, the lowest since records began nearly 20 years ago. As central banks have rolled up their sleeves to battle against deflation, this bond yield points to a global inflation rate of just 1.1 percent. Commodities have played their part in the global disinflationary move seen in the last year, and low energy prices should help to keep inflation in check going forward.

North America’s Largest Coal-fired Power Plant Will Soon be a Solar Farm (richcabot)

Currently, the province of Ontario meets the majority of its energy needs through nuclear and hydroelectric generation. Clean energy sources — wind, solar and bioenergy — provide just six per cent of the province’s energy demand. Unlike most Canadian provinces, Ontario’s emissions are on the way down — already at six per cent below 1990 levels. The long-term goal of the province’s climate change strategy is an 80 per cent reduction in 1990 emission levels by 2050.

Gold & Silver

Click to read the PM Daily Market Commentary: 4/6/16

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."

5 Comments

Bankers Slave's picture
Bankers Slave
Status: Platinum Member (Offline)
Joined: Jul 26 2012
Posts: 519
Like the man says "Its a no brainer"

Tall's picture
Tall
Status: Platinum Member (Offline)
Joined: Feb 18 2010
Posts: 564
Humans as invasive species

When the first prehistoric people trekked into South America toward the end of the Ice Age, they found a wondrous, lush continent inhabited by all manner of strange creatures like giant ground sloths and car-sized armadillos.

But these hunter-gatherers proceeded to behave like an "invasive species," with their population surging then crashing as they relentlessly depleted natural resources. Only much later did people muster exponential population growth after forming fixed settlements with domesticated crops and animals.

Those are the findings of research published on Wednesday in the journal Nature that provides the most comprehensive look to date of the peopling of South America, the last habitable continent colonized by humankind.

"Humans are just like any other invasive species," Stanford University biology professor Elizabeth Hadly said. "If we use up our resources, we will decline. It is stating the obvious, but our study shows that even over vast geographic areas such as continents, humans can consume too much, too fast."

http://www.reuters.com/article/us-science-southamerica-idUSKCN0X32J1

 

Luke Moffat's picture
Luke Moffat
Status: Gold Member (Online)
Joined: Jan 25 2014
Posts: 364
South China Sea Shenanigans

Worth watching from 7:29

 

TechGuy's picture
TechGuy
Status: Gold Member (Offline)
Joined: Oct 13 2008
Posts: 366
Re: 4GW Coal Plant replaced with 44M of Solar

Somehow the math does add up. Replacing a 4GW Base load plant with 44MW (nameplate) of solar doesn't "quite" balance out (roughly 1/300 of power).  I suspect that the former plant operator, likely replaced the plant with a new NatGas Plant. All is well & dandy, until the supply and cost of NatGas become prohibitive.

 

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4061
Can Central Banks Spur Inflation with Negative Interest Rates?

 

Czech central bank not totally negative on negative interest rates

Radio Prague-3 hours ago
Negative interest rates, where depositors are actually charged for keeping cash on account, was raised as a subject for discussion. The European Central Bank ...

Can Central Banks Spur Inflation with Negative Interest Rates?

Yahoo News-19 hours ago
Can negative rates kick-start an economy's inflation and growth? By introducing negative interest rates, the central bank's intention is to force investors to buy ...

'We're going to need a bigger truck': Australia's foreign debt tops $1 trillion

Sydney Morning Herald - ‎9 hours ago‎
Of our trillion dollar net foreign debt, one quarter is owed by the public sector – including all federal, state and territory governments and their government-owned enterprises. The remaining three-quarters is owed by private sector corporations ...

Banks at Risk of Bad-Debt Blowout as Aussie Steelmaker Collapses

Bloomberg-12 hours ago
Bad-debt provisions at Australia's largest lenders are set to rise to their highest in ... 1.8 percent of their total A$3.56 trillion in assets, based on their latest filings.

Orange County Register: Pensions a perilous global problem

Madison.com-9 minutes ago
... that the nations' $44 trillion in traditional debt nearly tripled to $122 trillion once their $78 trillion in public pension and social security liabilities are factored in.

 

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