Daily Digest

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Daily Digest 5/31 - Venezuela Drifts Into New Territory, What Happens If We Burn All The Fossil Fuels?

Tuesday, May 31, 2016, 7:40 AM

Economy

Why a Universal Basic Income Will Not Solve Poverty (jdargis)

The idea of universal basic income sounds extravagant, right? Well, the Finns and even the Swiss are thinking about it. On June 5, Swiss citizens will vote in a referendum on whether to hand out 30,000 francs a year — just over $30,000 — to every citizen, regardless of wealth, work status or whatever.

The Four Horsemen of the Global Deleveraging Apocalypse: A Neutrino Debt Bomb (Alex)

Of the Four Horseman, debt is the one that drives all the others (Currency Wars, Commodity Busts, and Market Crashes). And if you can understand the dynamics of debt cycles, then you can take much of the guessing game out of macroeconomics. The macro events above, and much more, become not only unsurprising, but absolutely expected.

Bond Commission Approves $22 Million Package For World's Largest Hedge Fund (DennisC)

Under the agreement, Bridgewater will receive a $17 million loan at 1 percent that would be forgiven if the company creates 750 new jobs, as well as retaining the 1,402 positions it currently has in the state. The money will be used to renovate and expand the firm's Westport headquarters, along with operations in Wilton and Norwalk.

Panama Papers May Inspire More Big Leaks, if Not Reform (jdargis)

“The reaction around the world has been pretty spectacular,” said Gabriel Zucman, an economist at the University of California, Berkeley, who has estimated that 8 percent of the world’s personal wealth is hidden in tax havens. “The demand for financial transparency and tax reform is really growing. It’s the first time there’s been public outrage at the global level on these issues.”

Venezuela Drifts Into New Territory: Hunger, Blackouts and Government Shutdown (LesPhelps)

“There’s been plenty of problems, but one thing I haven’t seen until now is protests simply to get food,” said David Smilde, a Caracas-based analyst for the Washington Office on Latin America, a human rights group, referring to the demonstrations last week. The growing economic crisis — fueled by low prices for oil, the country’s main export; a drought that has crippled Venezuela’s ability to generate hydroelectric power; and a long decline in manufacturing and agricultural production — has turned into an intensely political one for President Nicolás Maduro.

Eric Holder says Edward Snowden performed a 'public service' (lambertad)

Former U.S. Attorney General Eric Holder says Edward Snowden performed a "public service" by triggering a debate over surveillance techniques, but still must pay a penalty for illegally leaking a trove of classified intelligence documents.

"We can certainly argue about the way in which Snowden did what he did, but I think that he actually performed a public service by raising the debate that we engaged in and by the changes that we made," Holder told David Axelrod on "The Axe Files," a podcast produced by CNN and the University of Chicago Institute of Politics.

Fort McMurray fires a reminder that safety deposit boxes are not 100% safe (westcoastjan)

Do not expect the bank to cover the cost of replacing your possessions if a branch’s safe deposit box vaults are damaged by flood, storm or fire. “We tell our clients that in rare incidents beyond our control, like this massive wildfire, CIBC will not be liable for any damage, delay or inconvenience that’s occurred,” the bank said in e-mailed answers to questions. “We do advise our clients to insure the contents of their safe deposit box, but insurance is at the client’s option and expense.”

Link between cell phones and cancer is real, according to major government study (lambertad)

A spokesperson for the National Institutes of Health, which helped oversee the study, wasn’t immediately available for comment. Earlier in the week, the NIH said, “It is important to note that previous human, observational data collected in earlier, large-scale population-based studies have found limited evidence of an increased risk for developing cancer from cellphone use.”

What happens if we burn all the fossil fuels? (jdargis)

Carbon dioxide's warming influence doesn't go up in a linear fashion as its concentration increases. Once an infrared photon gets absorbed, it can't be absorbed again, no matter how many additional carbon dioxide molecules are present. So, as concentrations go up, the warming influence tails off. This is generally approximated by saying that each doubling of the gas' concentration has about the same warming effect.

Preparing For A Beautiful End (jdargis)

Ruben and Carmen are among a growing number of people who have become convinced that our species has wrecked its natural habitat beyond repair. They believe human civilization is entering the first stages of a collapse from which no valiant activism, alternative energy, or utopian technology can ultimately save it. Earlier this year, a New York Times Magazine profile of longtime environmentalist Paul Kingsnorth stirred some heated debate around the question many activists have been quietly asking themselves for a while: what if we’re fucked? Kingsnorth has publicly given up trying to rescue civilization and is turning his energy towards grieving its imminent death. Even green movements with the popular support of Bill McKibben’s 350.org don’t stand a chance of stopping climate change and only peddle false hope, Kingsnorth told the Times.

Gold & Silver

Click to read the PM Daily Market Commentary: 5/27/16

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."

7 Comments

Bankers Slave's picture
Bankers Slave
Status: Platinum Member (Offline)
Joined: Jul 26 2012
Posts: 520
Surprised by the outlet for this conspiracy!

http://www.telegraph.co.uk/news/worldnews/europe/1356047/Euro-federalist...

I doubt the 2nd world war ever ended!

thebrewer's picture
thebrewer
Status: Silver Member (Offline)
Joined: Nov 7 2012
Posts: 110
Venezuela Drifts

This caption on one of the pictures in the "Desperate Times in Venezuela" article says it all.

Omaira Hernandez, 53, bathes her 2-year-old granddaughter, Isabella, using buckets of water she filled at a nearby well, because the government has not provided running water to her home in over five months.

Tall's picture
Tall
Status: Platinum Member (Offline)
Joined: Feb 18 2010
Posts: 564
Old oil and gas wells pose hazard for new development

In many parts of the country, areas that are now full of houses and schools and shopping centers were once oil and gas fields. You wouldn't know it by looking, but hidden underground, there are millions of abandoned wells.

New development happening on top of those old wells can create a dangerous situation.

No Systematic Monitoring Of Leaks

In most states, there is no requirement for homeowners to be notified about abandoned oil and gas wells on their properties. 

http://wyomingpublicmedia.org/post/hidden-abandoned-dangerous-old-gas-an...

sand_puppy's picture
sand_puppy
Status: Diamond Member (Offline)
Joined: Apr 13 2011
Posts: 1763
Chief of CIA’s ‘Bin-Laden’ Unit Says Al-Qaeda Never Existed

The "elite" apparently take seriously their self assigned role of guiding the (ignorant) masses by creating mobilizing myths.

Chief of The CIA’s ‘Bin-Laden’ Unit Tells The World That Al-Qaeda Never Existed

Uncletommy's picture
Uncletommy
Status: Gold Member (Offline)
Joined: May 3 2014
Posts: 476
You think Wyoming has a problem. . .

It is estimated that the province of Alberta has in excess of 400,000 active or abandoned oil and gas wells. The Petroleum Services Association of Canada estimates that another 5100+ will be drilled across Canada in 2016. Talk about a legacy for our children.

reflector's picture
reflector
Status: Gold Member (Offline)
Joined: Aug 20 2011
Posts: 267
great message
thebrewer wrote:

This caption on one of the pictures in the "Desperate Times in Venezuela" article says it all.

Omaira Hernandez, 53, bathes her 2-year-old granddaughter, Isabella, using buckets of water she filled at a nearby well, because the government has not provided running water to her home in over five months.

thank you for the uplifting message, brewer!

someone provided for her family where the government has failed. a great reminder that we don't need government, we can take care of ourselves.

and why should the government provide water or anything else? government, if it exists at all, is best suited to protecting peoples' rights and defending its borders, and nothing else.

it's a mistake to rely on the government or have anything to do with them.

a government powerful enough to give you everything you want, is powerful enough to take away everything that you have.

robie robinson's picture
robie robinson
Status: Diamond Member (Offline)
Joined: Aug 25 2009
Posts: 1148
A great apologist of the three "E's", and my hero

has left us,https://thecontraryfarmer.wordpress.com/2016/05/31/farewell-dear-gene/

His book on death and dying is at least as great as his many essays about life and living.(I guess that covers it) "Gene Everlasting"

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