Daily Digest 5/13 – Iowa Farmers Bear Brunt Of ‘Ugly’ Trade War, How Much Money Do You Need to Be Wealthy in America?


‘It could break a lot of people’: Iowa farmers bear the brunt of Trump’s ‘ugly’ trade war with China (Don R.)

“A lot of producers are in serious financial pain,” he continued. “How long we can survive and handle it, I don’t know.’

Kirk Leeds, CEO of the Iowa Soybean Association, told the Register that soybean farmers have historically “been the tip of the spear when it comes to Chinese retaliation. “I’m not sure they can take much more,” Leeds said, noting the tariffs have “undercut any remnants of optimism.”

US deployments across Mideast factor in Iran tensions (Sparky1)

John Bolton, Trump’s national security adviser, announced the deployment of the USS Abraham Lincoln aircraft carrier and its strike group on May 5 over “troubling and escalatory indications and warnings” that still have not been specified. He warned Iran any attack would U.S. interests or allies would face “unrelenting force.” The Lincoln, which left the U.S. in April on a scheduled deployment, had planned to come to the Persian Gulf on its around-the-world trip to San Diego, California. Now it is steaming there earlier. Alongside the Lincoln are three destroyers, the USS Bainbridge, the USS Mason and the USS Nitze, as well as the guided-missile cruiser the USS Leyte Gulf and a Spanish frigate, the ESPS Mendez Nunez.

Chris Hughes: It’s Time to Break Up Facebook (tmn)

Mark is a good, kind person. But I’m angry that his focus on growth led him to sacrifice security and civility for clicks. I’m disappointed in myself and the early Facebook team for not thinking more about how the News Feed algorithm could change our culture, influence elections and empower nationalist leaders. And I’m worried that Mark has surrounded himself with a team that reinforces his beliefs instead of challenging them.

How Drug Companies Helped Shape A Shifting, Biological View Of Mental Illness (tmn)

“We don’t know enough about the biology of these mental disorders to know whether or not some of the reasons are biological — in the sense that medicine likes to think of these things as diseases — and whether it’s just because they’re having terrible problems,” Harrington says. “I would love to see a larger, more pluralistic set of options.”

How Much Money Do You Need to Be Wealthy in America? (jdargis)

The Schwab survey, which took a national sample of 1,000 Americans between the ages of 21 and 75, also revealed that the majority of Americans really crave real estate. More than 50% of respondents across generations said that if they got a $1 million windfall, they’d spend it, and the most popular purchase would be a place to live—particularly among millennials (roughly age 22 to 37).

United States nuclear forces, 2019 (newsbuoy)

At the beginning of 2019, the US Department of Defense maintained an estimated stockpile of 3,800 nuclear warheads for delivery by more than 800 ballistic missiles and aircraft. Most of the warheads in the stockpile are not deployed, but rather stored for potential upload onto missiles and aircraft as necessary. Many are destined for retirement. We estimate that approximately 1,750 warheads are currently deployed, of which roughly 1,300 strategic warheads are deployed on ballistic missiles, 300 at strategic bomber bases in the United States, while another 150 tactical bombs are deployed at air bases in Europe. The remaining warheads – approximately 2,050 – are in storage as a so-called hedge against technical or geopolitical surprises.

After the floods: the struggle for survival in a tiny Mississippi town (Sparky1)

According to the US Census, the town is the poorest in Holmes county, which is the poorest county in the state of Mississippi, which is the poorest state in the union. For many in Tchula, the flooding has been the last straw.

“Time to speak up, time to make noise,” said Harriet Carter, out front of her still-flooded home, its windows wrapped in plastic.

300 Himalayan yaks die of starvation in India’s northeast (Sparky1)

“There has been human interference like construction of roads in the area,” said Usha Lachungpa, a conservationist in Sikkim. “Snow sliding down and blocking roads could be a result of such activities.”

It could take a long time for the area’s yak population to grow and reach the level before the recent catastrophe, she said.

Gold & Silver

Click to read the PM Daily Market Commentary: 5/10/19

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