Daily Digest

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Daily Digest 5/5 - A Bitter Pill, 4.5-Million-Barrel Per Day Oil Shortage Looms

Thursday, May 5, 2016, 10:21 AM


Europe to Remove 500-Euro Bill, the ‘Bin Laden’ Bank Note Criminals Love (jdargis)

The €500 note is also more compact and convenient for evading the gaze of authorities. The equivalent of $1 million, in that high euro note, weighs about five pounds and fits in a small bag, according to a Harvard University study this year.

Actually, Hillary Clinton is a fiscal conservative — look it up (jdargis)

Consider her “New College Compact,” which would substantially reduce higher-ed costs for new students and lower debt for past ones. She also plans to expand the Affordable Care Act. Her proposed expansions and investments in clean energy, early-childhood education, family leave, veterans’ services and infrastructure look pretty costly, too.

The Mythology Of Trump’s ‘Working Class’ Support (jdargis)

These figures, as I mentioned, are derived from exit polls, which so far have been conducted in 23 primary states.1 The exit polls have asked voters to describe their 2015 family income by using one of five broad categories, ranging from “under $30,000” to “$200,000 or more.” It’s fairly straightforward to interpolate a median income for voters of each candidate from this data; for instance, we can infer that the median Clinton voter in Wisconsin made about $63,000.2 You can find my estimates for each candidate in each state in the following table, along with each state’s overall household median income in 2015.3

Turkish ruling party preparing to replace PM Davutoglu: officials (jdargis)

The leader of the AKP, which has governed Turkey since 2002, also serves as prime minister. Davutoglu's likely departure looms as Turkey faces mounting security challenges, with a Kurdish insurgency in its southeast and the spillover of the war in Syria on its southern border.

Medical Errors Are No. 3 Cause Of U.S Deaths, Researchers Say (jdargis)

The CDC's published mortality statistics, however, count only the "underlying cause of death," defined as the condition that led a person to seek treatment. As a result, even if a doctor does list medical errors on a death certificate, they aren't included in the published totals. Only the underlying condition, such as heart disease or cancer, is counted, even when it isn't fatal.

A Bitter Pill (jdargis)

That’s not to say Zayner is dubious of science — in fact, he’s a scientist himself. In 2013, he earned a PhD in Biophysics from the University of Chicago and subsequently served as a postdoc researcher at NASA’s Ames Research Center for two years. But the space agency didn’t suit him. "NASA was not what I imagined it to be," he says. It was supposed to be a bastion of innovation, but the experiments he saw performed at NASA were underwhelming. "[There’s] very little work getting done, because people either don’t work, don’t care to work, or because the last time they did any science was 40 years ago," he says.

A 4.5-Million-Barrel Per Day Oil Shortage Looms: Wood Mackenzie (Josh O.)

Oil dived more than 75 percent over a year and a half – that’s a hard blow to withstand. However, those laid off as part of the E&Ps’ coping mechanism will not sit around and wait to be rehired at the first opportunity. They will, and do, look for work elsewhere. So, the energy industry is facing another shortage that will help determine the ultimate one: a shortage of manpower.

People who fled Fort McMurray wildfire now evacuated from Anzac after blaze moves south (Uncletommy)

“Traffic is no longer moving north and south on Highway 63,” said Dale Bendfeld, Wood Buffalo acting director of community and protective services. “What occurred in the afternoon with the weather was that the fire started creating momentum. The intersection of highway 63 and the airport became threatened.”

Gold & Silver

Click to read the PM Daily Market Commentary: 5/4/16

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."


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Cartoonist Fired From Farm News for Pro-Farmer Cartoon

Economics of farming are skewed. But we can't talk about it...

"Rick Friday was not immediately available on Wednesday to explain why he was fired after two decades working as a cartoonist for Farm News. That is because he was feeding the cows on his Iowa farm, as he does early every morning before most people have gone to work.

But the cartoon that got him into trouble last week had already spoken for him, circulating online well beyond the audience of the thousands of Farm News readers of his weekly “It’s Friday” column, which has been published since 1995.
The cartoon shows two farmers, in overalls and skewed baseball caps, chatting at a fence.
“I wish there was more profit in farming,” one farmer says.
“There is,” the other replies. “In year 2015 the C.E.O.s of Monsanto, DuPont Pioneer and John Deere combined made more money than 2,129 Iowa farmers.”"



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Farm woes


Thank you for posting this article about cartoon politics gone crazy.

As a farmer, it really burns my cookies to see the current farm economic truth be too controversial to let see the light of day.  Apparently the editor or editorial staff failed to censor this cartoon before publication and now, after feeling the wrath of the corporate machine, somebody has to pay. Off with his head!

A short anecdote:  I recently purchased a small plastic washer for a tractor repair.  Two months ago it was somewhat overpriced @ $12.00.  Now it is $48.00 after a price "adjustment" from the tractor manufacturer.  No hint of deflation in parts yet. 

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Arthur Robey
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Cold Fusion goes Critical.

It's not that Nothing Happens. 

The problem is that too much Happens. 



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Wonder if the Tar Sands are going to catch fire...

Fort McMurray Blaze Grows to Overwhelm Anzac, Shuts off 640,000 Barrels per Day of Tar Sands Production (Robert Scribbler)

Edit: Intuition whispers that the magnitude and duration of the current climate shift will suffice to lay even the best laid central plans to waist.

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In my location, two provinces east, we're starting to smell smoke from the Fort McMurray fires.

There were official advisories about the fire danger as far back as Sunday, but a lot of people still got caught by surprise when they had to leave.


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4.5 Million BBL shortage vs Elon Musk

Who wants to make a bet that in the not to distant future that subsidies for domestic oil companies will rise sharply with the justification of national security? You won't hear about these subsidies in the MSM but will continue to hear about the far smaller subsidies for renewable advancement.

If we spent half as much money developing renewable technology and storage we would need to worry about an oil shortage 20 years from now. This scenario is precisely why Elon Musk is so hell bent on moving our transportation sector to electric and powering it with renewable and clean energy sources. The fact that Tesla took deposits for nearly 400,000 of it's new Model 3 car in less than two weeks speaks volumes as to the desires of the people but yet we still feel compelled to continue digging things up out of the ground, lighting them on fire and calling that an energy solution. Baffling!

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Bad Cartoonist

Tall wrote:

Economics of farming are skewed. But we can't talk about it...

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Jim H
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Posts: 2391
More signs of recession...


Tax Receipts vs. the Stock Market

Following the US Treasury’s update of April tax receipts, our friend Mac mailed us a few charts showing the trend in corporate tax payments. Not surprisingly, corporate tax payments and refunds mirror the many signs of a slowing economy that have recently emerged. An overview in chart form follows below. First up, corporate tax receipts in absolute figures

1-corporate tax receipts

Corporate tax receipts in absolute dollars and cents – this is quite astonishing considering that the amount of money in the US economy has increased by roughly 125% since early 2008. Corporate taxes by contrast haven’t even made it back to the 2007 peak.......


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CLSA Sees China Bad-Loan Epidemic With $1 Trillion of Losses

Fitch downgrades Brazil, Meirelles calls for credible targets

Reuters-15 hours ago
SAO PAULO Fitch Ratings downgraded Brazil's sovereign debt further into junk territory on Thursday, citing a deeper-than-expected economic contraction and ...

CLSA Sees China Bad-Loan Epidemic With $1 Trillion of Losses

Bloomberg - ‎6 hours ago‎
Potential losses could range from 6.9 trillion yuan ($1.1 trillion) to 9.1 trillion yuan, according to a report by the brokerage. The estimates are based on public data on listed companies' debt-servicing abilities and make assumptions about potential ...

China's real bad debt ratio at least nine times the official number and still growing

South China Morning Post - ‎4 hours ago‎
“Banks will need to raise 6.8 to 10.6 trillion yuan (HK$8.11 trillion to HK$12.65 trillion), 10 to 15 per cent of GDP, to cover the bad loans assuming a 100 per cent provision rate, based on a 15 to 20 per cent NPL ratio,” he said. The mainland's debt ...

Warnings mount on world's corporate debt, China crisis

Telegraph.co.uk-32 minutes ago
The body flagged a double threat: a five-fold rise in company debt to $25 trillion in emerging markets over the past decade; and record junk bond issuance in US ...

US Treasury to Sell $119 Billion in Debt

Wall Street Journal-18 hours ago
The Treasury Department will auction $119 billion in securities next week, comprising $62 billion in new debt and $57 billion in previously auctioned debt.

Most of Greek bailout money went to banks: study

Deutsche Welle - ‎May 4, 2016‎
Of that amount, the ESMT's study found that 86.9 billion went toward debt repayments, including 9.1 billion in repayments to the International Monetary Fund (IMF), 52.3 billion was spent on interest payments, 37.3 billion was used for bank ...
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Quercus bicolor
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Posts: 470
email to farm news:
Dear Mr. Bushman,

I'm sure you've seen the "Now Now Don't you cry ... " cartoon by Rick Friday in response to your firing of him.  I suggest that you consider it very carefully.  We need an uncensored place to discuss farm and food issues in this country.  Please don't let your magazine be a censored mouthpiece for the agricultural oligarch's who are obviously willing to through their money around to silence critical viewpoints even when those critics speak the obvious and verifiable truth. 

If we aren't able to have that conversation, those oligarchs are going to squeeze farmers, soils, ecosystems and everyone else for their profits until the entire system breaks.

Please show some courage and stand for what you know in your heart.


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 email to farm news



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