Daily Digest

Image by lorenkerns, Flickr Creative Commons

Daily Digest 5/10 - 1 In 5 Plants At Extinction Risk, Who Is Serving Whom?

Tuesday, May 10, 2016, 10:27 AM

Economy

Study finds the way America shops has changed for good (Yoxa)

The study, found that for 55 percent of women, their No. 1 priority is paying off debt, followed by saving (48 percent) and then vacations (35 percent). As shoppers, 8 out of 10 are simplifying how they take care of their homes and are making easier meals, seven out of 10 are adopting simpler beauty routines, and six out of 10 are spending less time shopping. Two-thirds of those surveyed are staying home more.

Public Servants: Who is Serving Whom? (reflector)

The study says Federal workers with a professional or doctoral degree make up 7 percent of the Federal workforce. Therefore, 93 percent of Federal workers earn higher salaries plus benefits than comparable workers in the private sector. I'm still waiting for the "extraordinary sacrifice" we keep hearing about.

Uncomfortable Truths About Central Banking And Money (Taki T.)

Debt: When the debt pyramid crashes, when bonds and currencies are marked down to near intrinsic value, when central banks create massively more currency units to “paper over” the coming crisis, will gold substantially increase in value? Trick question! Gold will always be valuable, but the dollars, pounds, yen, and euros will continue to devalue and, from a dollar-centric world it will appear that gold is becoming more expensive. No – the apparent increase in gold price is largely caused by the devaluation of currencies.

As Jobs Vanish, Forgetting What Government Is For (jdargis)

The construction jobs once fueled by the housing bubble that burst so violently in 2008 are unlikely to return anytime soon. The jobs picking up the slack today are in retail sales or cleaning buildings, paying little more than $26,000 a year; they are cashier positions paying $21,000, or food-prep jobs paying less than $20,000.

Some growing occupations pay a decent wage: registered nurses earn $71,000 a year, on average. But these examples are the exception, not the norm.

A Glimpse Into What Saudi Arabia’s New Oil Policy Will Look Like (Josh O.)

In his first statement as Saudi Oil minister, Khalid al-Falih implied that Saudi oil policy will continues along the lines of his predecessor

Pacific Northwest Snowpack Melting At Record Pace (Time2Help)

April experienced record high temperatures throughout the entire Pacific Northwest, causing much of the remaining snowpack to melt and runoff. Over 80 percent of all SNOTEL sites with at least 15 years of data set all new melt rate records for April. During two separate high-pressure weather systems in April, Snowpack Telemetry (SNOTEL) experienced minimum daily temperatures exceeding 20 degrees above normal. Due to the rapid snowmelt, runoff was above normal and Washington State’s rivers and streams were able to contain it without flooding.

Sheet Mulching: How to Smother Weeds, Build Soil & Conserve Water the Easy Way (jdargis)

Sheet mulching also traps moisture in the soil. Every farmer and gardener knows that mulching is a must to cut down on irrigation, but the cardboard used in sheet mulching is much more effective at trapping moisture than typical wood chips or straw. When I used the sheet mulching technique in the parched landscape of California, I found the moisture in the soil lasted at least five to 10 times longer than a thick layer of mulch on its own.

One in five of world's plant species at risk of extinction (jdargis)

Climate change is currently a smaller factor - 4% - but is likely to grow. “I suspect we won’t actually see the full impact until 30 years down the line as it takes so long for plants, especially trees, to produce their offspring,” said Willis. One important crop that is already suffering is coffee, as rising temperatures make the beans impossible to grow and increase diseases in key countries such as Ethiopia.

Gold & Silver

Click to read the PM Daily Market Commentary: 5/9/16

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."

3 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4065
The post office lost $2 billion in 3 months

The post office lost $2 billion in 3 months

"Controllable earnings, which are the equivalent of non-GAAP (generally accepted accounting principles) results, exclude what the post office describes as “operating expenses considered outside of management’s control.”

Public companies use non-GAAP results to strip out nonrecurring items, such as charges for restructuring or for the depreciation of assets, which they don’t believe represent the true performance of the company. Basically, controllable earnings are what would be compared with analyst estimates, if analysts followed the post office.

But when reporting GAAP results, the post office said losses widened to $2.04 billion from $1.47 billion a year ago. Included in the GAAP loss are “the legally-mandated expense to prefund retiree health benefits.”"

Time2help's picture
Time2help
Status: Diamond Member (Offline)
Joined: Jun 9 2011
Posts: 2766
Blub

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4065
The hurdles to 'helicopter money' are shrinking

The hurdles to 'helicopter money' are shrinking

Financial Times-1 hour ago
Now we can add “helicopter money” to the list — the idea, originally from Milton Friedman in 1948, that a government could always tackle a problem of weak ...

Julius Baer to impose negative interest rates

The Straits Times-18 hours ago
Bank Julius Baer says it is imposing negative interest rates "in response to prevailing market conditions". A rate of -0.75 per cent will be levied for a cash balance ...

Walker to delay $101 million in debt payments

Minneapolis Star Tribune - ‎19 hours ago‎
Pushing off debt payments into a different budget year is a common tactic used by Republican and Democratic governors alike as a short-term method of balancing the books. Since 2001, more than $1.6 billion in such payments have been delayed.

Long-Dated Bonds Find Favor as Investors Try to Dodge Negative ...

Wall Street Journal-40 minutes ago
In April, the French treasury sold €9 billion ($10.3 billion) of debt, with one tranche maturing in 2036 and a second in 2066, and paid an interest rate of 1.25% ...

Europe's Ultra-Long Debt Trend Builds With 50-Year Spanish Bond

Bloomberg - ‎5 hours ago‎
Investor interest in multi-decade debt has swelled as the European Central Bank's quantitative-easing plan crushes yields on shorter-dated securities -- though the risk of losses has also grown. The bond, Spain's first 50-year offering since September ...
 

Spain, Italy long-dated yields hit multi-month highs on 50-year bond plans

Reuters - ‎4 hours ago‎
Of other eye-catching deals in the euro area this year, Ireland and Belgium have both privately placed 100-year debt. Elsewhere in a busy day for euro zone debt issuance, Portugal sold 1.15 billion euros of 10-year debt, while Germany sold almost 4 ...

Emanuel keeps Wall Street waiting on pension overhaul

Chicago Tribune-16 hours ago
The smaller Laborers Annuity and Benefit Fund has about $1.2 billion in red ink ... The longer the city waits to start paying down the pension debt, the bigger it ...

Chinese firms need to repay 1.66 trln yuan of bonds in May ...

Daily Mail-11 hours ago
Over $15 billion of Chinese debt issuance was canceled or delayed in April as corporate debt demand dried up. [ ] ($1 = 6.5120 Chinese yuan renminbi) ...

Negative Rates a Curse for Savers as Funds Sound Alarm in Sweden

Bloomberg-7 hours ago
Eva Halvarsson, the chief executive officer of the $37 billion AP2 fund, one of ... According to Grottheim, Sweden's low public debt level, which at 40 percent is ...

Norway to dig deeper in wealth fund to counter economic slowdown

Reuters - ‎4 hours ago‎
Spending of petroleum revenues, as measured by the structural non-oil budget deficit, is estimated to be 205.6 billion Norwegian crowns, up 10 billion crowns on October. This is equivalent to 7.5 percent of GDP for mainland Norway, up from 6.4 percent ...

Gulf governments set debt record

Financial Times-8 hours ago
Middle Eastern governments have already set a record for debt sales, as the ... ratings decision after placing Saudi Arabia on a review for possible downgrade.

Atlantic City on the verge of bankruptcy

NJ TODAY-31 minutes ago
Last year, Atlantic City's budget deficit was more than $120 million — or more ... put it $40 million deeper in debt to a state pension system that is deep in the red.

 

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Login or Register to post comments