Daily Digest

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Daily Digest 7/1 - Good News Friday: Antarctic Ozone Hole Healing, Is There Life After Leather?

Friday, July 1, 2016, 9:46 AM

This is Good News Friday, where we find some good economic, energy, and environmental news and share it with PP readers. Please send any positive news to [email protected] with subject header "Good News Friday." We will save and post weekly. Enjoy!

Economy

Pell Grants for prisoners moves forward, roughly 12,000 inmates expected to participate (jdargis)

The Education Department has partnered with more than 100 correctional facilities, and agreed to provide prisoners either classroom instruction, online programs or a hybrid of both. The department said it received more than 200 applications from schools that wanted to be involved.

Refugees Encounter a Foreign Word: Welcome (jdargis)

Across Canada, ordinary citizens, distressed by news reports of drowning children and the shunning of desperate migrants, are intervening in one of the world’s most pressing problems. Their country allows them a rare power and responsibility: They can band together in small groups and personally resettle — essentially adopt — a refugee family. In Toronto alone, hockey moms, dog-walking friends, book club members, poker buddies and lawyers have formed circles to take in Syrian families. The Canadian government says sponsors officially number in the thousands, but the groups have many more extended members.

Puerto Rico Relief Measure Clears Senate, Goes to Obama (jdargis)

The rescue package will not prevent Puerto Rico from missing the payment due on Friday on a $2 billion debt, and Republican congressional leaders labored to the end to reassure conservatives that the bill is not a bailout. Instead, the legislation would allow the island’s government to restructure its $72 billion total debt so it can manage payments, and create a bipartisan oversight board mostly of outsiders to guide what is sure to be a painful recovery process.

Discovery of new helium reserves a “game changer” for medical industry (jdargis)

The new discovery, estimated to be about 54 billion cubic feet in size in just one small region of the valley, could fill more than 1.2 million MRI scanners—of which there are only an estimated 25,000 actually in existence throughout the world. Humans use around eight billion cubic feet of helium per year, so it represents a sizeable addition to the dwindling total reserves previously believed to be available, but it also gives hope for helium prospectors. Previously, the gas was always discovered by accident, but the team's discovery will now allow people to proactively hunt for more.

Is There Life After Leather? (jdargis)

Sam Hudson is part of a growing group of scientists returning to renewable resources for material development. The resulting textiles are slowly moving out of the lab and into the commercialisation phase, which means you could someday see them as an option at your local car dealer. Carmakers are searching for novel combinations of comfort, performance and good looks with, in many cases, a healthy dose of sustainability. Materials science has progressed to the point that you can make a truly luxurious synthetic fabric, or lend new qualities to tried-and-true options. Not that there’s anything wrong with velour.

Antarctic ozone hole beginning to heal (jdargis)

As the ozone layer heals, it is expected that seasonal growth of the ozone hole will occur later in the season. Observations of the 2015 ozone hole were in line with these expectations. In 2015, the ozone hole was considerably smaller during the months of August and September than it was during previous years. Although it reached record size during October of that year, the authors’ climate and atmospheric models indicate that this was an anomaly related to volcanic eruptions.

Extension Agents: The Unsung Heroes of the Agricultural World (jdargis)

Most of the farms under Ray Benson’s purview turn out commodity crops like corn, soybeans, and cotton. His aim: to help big ag leave a smaller environmental footprint. Benson, who studied agronomy and crop science as a University of Arkansas grad student, advocates for technology that helps area farmers monitor and, ultimately, reduce the amount of water, fertilizer, and pesticides used in their fields.

The 6,000 Year Old Telescope (jdargis)

They also may have been used for ceremonious rites of passage, researchers say. “Similar suggestions have been made for the ritual use of caves in the Neolithic of the Mediterranean, for instance,” Daniel Brown, an astronomy lecturer at Nottingham Trent University, told me in an email. The idea Brown and his colleagues are exploring is whether stellar alignment was a key component of rituals in these ancient spaces. One theory, he says, is that the structures were designed to reveal a certain star to a person staying in the chamber—where the aperture would make the star visible days or even a week before it could be seen otherwise.

Gold & Silver

Click to read the PM Daily Market Commentary: 6/30/16

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."

10 Comments

cmartenson's picture
cmartenson
Status: Diamond Member (Offline)
Joined: Jun 7 2007
Posts: 5568
10,000 to 1

No, those aren't the odds of the US ""justice""system investigating the massive and blatant voting irregularities during the Democratic primaries as the Austrian justice system did yesterday.  Kudos to at least one functioning system in the world!   

10,000 to 1 is the revaluation ratio of the Belarus currency:

Belarus Redenominates Banknotes by 10,000 to 1

Belarus has launched a new series of coins and banknotes after redenominating its currency by 10,000 to one, the Gazeta news website reported Friday. A new Belarussian five ruble bank note will be equivalent to the old 50 thousand ruble note.

Old banknotes will be generally accepted in place of the new denominations until the end of the year, and then in Belarus’ National Bank from 2017 to 2021. The five new coins in Belarus are the first to be in circulation since the fall of the Soviet Union.

Belarussian President Alexander Lukashenko announced the planned devaluation in November 2015.

The Belarussian ruble, one of the world’s worst performing currencies, lost 60 percent of its value last year, with the country's economy falling into recession after 20 years of economic growth.

So imagine if you had ten thousands dollars in hundreds.  That's a solid stack a little less than an inch thick.  Now imagine you hand that in to the bank teller and they hand you back ... a single 'new' dollar...

Your only consolation is that the new dollar has a different look, and new colors.

Do you hold that dollar...or do you spend it pronto?  That was a trick question, of course you spend it, instantly.

blackeagle's picture
blackeagle
Status: Silver Member (Offline)
Joined: May 16 2013
Posts: 216
ELECTRIC-HIGHWAY TEST FOR FREIGHT HAULERS STARTS IN SWEDEN

The world’s freight moves via trucks. Even when goods are flown or shipped in containers around the world, delivery to the end of the supply chain is by truck. And while the carbon footprint for a freight-hauling truck is much greater than any car, SUV, or small truck, so far no one has presented a green solution for large trucks.

http://www.digitaltrends.com/cars/siemens-scania-sweden-ehighway/

Uncletommy's picture
Uncletommy
Status: Gold Member (Offline)
Joined: May 3 2014
Posts: 472
Dimethyl ether - an alternative for heavy trucks?

Dimethyl ether has been used and proposed for an alternative to diesel. It can be made from NG, coal, and biomass. It burns relatively clean, can be used in diesel engines(with minor adjustments). Doesn't have quite the "oomph" that diesel supplies, but it might be a transition fuel until we see how practical electric powered transport works for heavy goods. Globalization has been predicated on cheap energy and has long term implications for the future. Local economies still make logical sense for most of the things we consume. Fresh pineapple from the Philippines, strawberries from California, kiwis from New Zealand still constitute a luxury,IMHO, Rail and ocean transport have worked pretty well for a while now, so maybe a rethinking is in order on our options heading forward. Interesting article, however.

Time2help's picture
Time2help
Status: Diamond Member (Online)
Joined: Jun 9 2011
Posts: 2765
Scientists Trace Heat Wave To Massive Star

Scientists Trace Heat Wave To Massive Star At Center Of Solar System

Quote:

While scientists initially assumed the heat and luminescence of the star must make it the largest in the universe—a theory lent credence by the star appearing much bigger than other objects in the sky—they said the data actually appear to refute such a notion.

"Apparently it's gigantic simply because it's closer to us than any other star," Kivens said. "Which would also account for why we feel this particular star's heat during the day but are not warmed by the tiny blinking stars we see at night."

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4060
Bond yields sink as central banks head for easier policy

Bond yields sink as central banks head for easier policy

Reuters - ‎5 hours ago‎
LONDON The prospect of further cuts in interest rates and bond-buying to support a fractured global economy kept stock markets on the up in Europe and Asia on Friday, and drove U.S. and European government bond yields to their lowest in years. Signs ...

Benchmark 10-Year US Government Bond Yield Touches Record Low

Wall Street Journal-1 hour ago
Yields on U.S. government bonds fell to new lows on Friday, the latest record in this year's rally in sovereign debt around the world. The bid yield on the ...
bond yields fall to fresh record lows
Financial Times-5 hours ago

Benchmark JGB yield hits record low as global economy worries linger

Reuters-12 hours ago

... The benchmark 10-year Japanese government bond yield fell to a record low on ... JGB yields, along with those of government bonds in other countries, have

Gilt yields at record lows on Brexit fallout

Financial Times-7 hours ago

Stocks are firm, while a swath of government bond yields are hugging record ... having earlier touched a record low of 0.78 per cent on expectations the BoE .

Britain's 10-year government bond yield falls to record low of 0.831 ...

BreakingNews.com-7 hours ago
UK Labour Party leader Jeremy Corbyn tweets, 'United we stand, divided we fall is one of the oldest and truest slogans of the labour movement.

Osborne Follows Carney in Signaling Stimulus After Brexit

Bloomberg-2 hours ago
This week's developments also suggest Britain's 1.6 trillion-pound ($2.1 trillion) debt pile may no longer keep falling as a share of output, as had been promised.

 

China Bond Traders Are Betting on More Stimulus After Brexit

Bloomberg-9 hours ago

Before the shock decision added fuel to a rally in bond markets worldwide, Chinese yields had seen the only increase among similar-maturity sovereign debt in

BOJ set for more stimulus as consumer prices sink

Yahoo Finance-12 hours ago
The Tankan survey will likely reflect a drop in business sentiment and push the BOJ to ease in July, says Capital Economics' Marcel Thieliant.

China Bond Sales Tumble Most in Five Years as Defaults Surge

Bloomberg-7 hours ago

The nation's companies sold 1.85 trillion yuan ($278 billion) of onshore ... 2015 and sapping investor demand for debt securities, as Premier Li Keqiang steps up .

Japan consumer prices fall again in May

MarketWatch-6 hours ago
Even after the bank introduced negative interest rates in January to goose inflation, prices are falling again. The BOJ's next meeting is on July 28-29. Twenty out ...

Japan tax revenues slip, renewing fiscal spending debate

Nikkei Asian Review-19 hours ago
... primary surplus -- before debt payments -- in fiscal 2020. The government estimates that tax revenues will rise 1.3 trillion yen to 57.6 trillion yen in fiscal 2016.

World Biggest Pension Fund Seen Losing $43 Billion Last Quarter

Bloomberg-5 hours ago
Japanese stocks probably accounted for 22 percent, while international equities made up 22 percent, Iwao said. He estimates foreign debt stood at 14 percent.

BOK board approves W10 tln recap fund for corporate restructuring

Korea Times-11 hours ago
... approval Friday to the establishment of a 10-trillion-won ($8.7 billion) fund to help ... banks require additional funds to finance the ongoing debt restructuring in ...

Treasury to Sell $108 Billion in Debt

Wall Street Journal-20 hours ago
The Treasury Department will auction $108 billion in securities in the coming holiday-shortened week. Details (all with minimum denominations of $100):.

-Brazil eyes 2017 fiscal gap of 150 bln reais -source

Reuters-18 hours ago
"It will be hard to lower the deficit and 150 billion reais is the best number for now," said the official, who asked not to be named. The government's economic ...

S&P downgrades Detroit Public Schools bonds as district splits in two

Detroit Free Press-11 hours ago
Standard & Poor's lowered the district's bond ratings because of the risk for ... The ratings agency downgraded one set of the district's bonds from A to BBB and ...

As City, CPS Face Budget Gaps, Bankruptcy Option Looms

Chicago Tonight | WTTW-16 hours ago

Chicago Public Schools this year is staring down an estimated $1.1 billion budget deficit, and the city has a whopping unfunded pension obligation estimated to ..

Puerto Rico to Default on Constitutionally Guaranteed Debt

Wall Street Journal-2 hours ago
Puerto Rico will default on its constitutionally guaranteed debt for the first time Friday by failing to make most of some $1 billion in payments due, officials said on ...

 

westcoastjan's picture
westcoastjan
Status: Platinum Member (Offline)
Joined: Jun 4 2012
Posts: 561
A Canada Day article that resonates deeply

http://www.theglobeandmail.com/opinion/glorious-and-free-canada-is-my-pa...

We are so lucky and fortunate to live where we live!

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4060
Ouch

Treasury Direct Link

The Daily History of the Debt Results

Historical returns from 06/29/2016 through 06/30/2016

The data for the total public debt outstanding is published each business day. If there is no debt value for the date(s) you requested, the value for the preceding business day will be displayed.

( Debt Held by the Public vs. Intragovernmental Holdings )

Date Debt Held by the Public Intragovernmental Holdings Total Public Debt Outstanding
06/29/2016 13,909,292,651,119.25 5,374,032,947,234.27 19,283,325,598,353.52
06/30/2016 13,932,742,716,540.43 5,448,848,424,251.79 19,381,591,140,792.22

 

robie robinson's picture
robie robinson
Status: Diamond Member (Offline)
Joined: Aug 25 2009
Posts: 1148
robie robinson's picture
robie robinson
Status: Diamond Member (Offline)
Joined: Aug 25 2009
Posts: 1148
KugsCheese's picture
KugsCheese
Status: Diamond Member (Offline)
Joined: Jan 2 2010
Posts: 1428
Re: Ouch

Let's see $20T by Sept 2016!

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