Daily Digest

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Daily Digest 5/16 - Escape The Earnings Meltdown, What's The Arabic For Democracy?

Monday, May 16, 2016, 9:57 AM


What is the Arabic for democracy? (jdargis)

On the face of it, Tunisia has made an admirable transition to democracy. Its political parties have kept the consensus for pluralism, contested two rounds of elections and abided by the result. But the economy has languished, and protests are simmering once more in the deprived interior of the country. To an extent, Tunisia has been unlucky. It is feeling the instability next door in Libya: migrant workers have lost their jobs there, while the all-important tourism industry has been ruined by repeated terrorist attacks. An attempt in March by Islamic State to seize the town of Ben Guerdane, close to the Libyan border, rattled the country. But the coalition is fractious. It is struggling to enact economic reforms. And the ruling party, Nidaa Tounes, has split after little more than a year in power. In part this is because of the return of a bad old habit: President Beji Caid Essebsi seems to be trying to install his son, Hafedh, as his political heir.

U.S. Breakup Becoming More Mainstream (Aaron M.)

At the Texas Republican Convention, state delegates met and had a heated debate over the question of seceding from the United States. Yes, you read correctly. What began as grass roots movement made it all the way to the top. The Republican state convention eventually struck a resolution from being added to the party’s platform that endorsed the once wild idea of a referendum for Texans to vote to secede from the United States. Many have been surprised that this once grassroots movement is becoming mainstream.

Why America's Federal Debt is a Clear And Present Danger (Chris H.)

The chart below shows total US Treasury debt on select dates and highlights who held how much. Since '01, Foreign held US Treasury debt has grown over 6x's and is the largest class of US debt holders. The 2nd largest holder is the Intra-governmental Surplus which has doubled since '01 despite relative slowing recently. The US Public is the 3rd largest holder and has grown 2.5x's since '01. The smallest of the categories is the Federal Reserve, although it has grown nearly fivefold since '01. However, the Fed has entirely changed it's holdings from near cash, shorter duration Bills & Notes to exclusively longer duration Notes and Bonds...which is to say the Fed holds the majority of the long end of the curve despite "only" holding 13% of total Treasury debt.

Ludwig von Mises's Top 9 Quotes on Gold (reflector)

All those intent upon sabotaging the evolution toward welfare, peace, freedom, and democracy loathed the gold standard, and not only on account of its economic significance. In their eyes the gold standard was the labarum, the symbol, of all those doctrines and policies they wanted to destroy.

Escape The Earnings Meltdown (Tiffany D.)

Earnings are a fuzzy spot on a company’s income statement. In fact, a company can literally move numbers (not actual profits, revenues or expenses) around to conjure up a completely different bottom line than what it should actually report.

Uncomfortable Truths About Banking and Money (GE Christenson)

The crisis of 2008 hinted that “peak debt” had arrived. The Fed and other central banks responded to the crisis by creating more debt and supposedly “saved” global economies. They made a bad problem much worse and merely bought time, which means the coming implosion will be more destructive.

Americans Don’t Miss Manufacturing — They Miss Unions (jdargis)

On average, manufacturing jobs still pay better than most jobs available to people without a college degree. The median manufacturing worker without a bachelor’s degree earned $15 an hour in 2015, a dollar more than similarly educated workers in other industries.1 But those averages obscure a great deal of variation beneath the surface. Average manufacturing wages are inflated by high-earning veterans; newly created jobs tend to pay less. And there are substantial regional variations. The average manufacturing production worker in Michigan earns $20.80 an hour, vs.$18.86 in South Carolina, according to data from the Bureau of Labor Statistics.

A Plan to Flood San Francisco With News on Homelessness (jdargis)

Next month, media organizations in the Bay Area are planning to put aside their rivalries and competitive instincts for a day of coordinated coverage on the homeless crisis in the city. The Chronicle, which is leading the effort, is dispensing with traditional news article formats and will put forward possible solutions to the seemingly intractable plight of around 6,000 people without shelter.

Gold & Silver

Click to read the PM Daily Market Commentary: 5/13/16

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."


Tall's picture
Status: Platinum Member (Offline)
Joined: Feb 18 2010
Posts: 564
Our nitrogen footprint

...nitrogen pollution is responsible for the harmful algae blooms plaguing Chesapeake Bay, the Great Lakes and the Gulf of Mexico; for last year’s drinking water crisis in Toledo; and for “blue baby syndrome,” a potentially fatal oxygen depletion disorder that harms infants around the world — among other effects. Part of the difficulty in making people aware of these connections is that they often show up as “disruptions in distant places,” Erisman explains. What happens on a farm field can show up as algae many miles downstream and offshore, for example, or show up in groundwater that supplies well water to residents without direct connections to the source of contamination. Connecting water pollution or air pollution with food choices is even more of a stretch.

But before unraveling why a cheeseburger will expand your nitrogen footprint more than rice and beans, it helps to understand how we got to where we are now — with excess nitrogen creating dangerous river-choking algae blooms, fish-killing dead zones, unsafe drinking water and unhealthy levels of smog in cities worldwide — and how nitrogen works in the environment.



Uncletommy's picture
Status: Platinum Member (Offline)
Joined: May 3 2014
Posts: 650
Pick your Bio-gas carefully.

As much as James Lovelock catches the ire of many climate skeptics, he continues to have my respect for his insights into how the biosphere works. Since the Haber-Bosch process was discovered and ubiquitously applied throughout the world, it is apparent that man continues to prove he is the main culprit in the continued degradation of the current environment.Yes, Tall, you point out another footprint we all are leaving in the trail to ruin. But, IMO, we need to consider why there is no life on Mars and Venus.

Despite the tragedy of the fires in the boreal forests of Canada, They are sequestering carbon in a way that has been working nicely for millennia. The huge coal deposits of this planet are mainly due to the regular scorching of forests and their subsequent deposition in the soil. As horrific as the pictures of the Ft. McMurray fires were, they are part of a naturally functioning global process. If we could all stop dumping the CO2 sequestered in the top kilometer or two of the Earth's surface since the industrial revolution started, we might have a chance at turning the bus around and stop the warming trend. However, it may be too late.


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