Daily Digest 9/28 – The Personal Financial Crisis Explained, A Look at 90 Years of Auto Strikes

Economy

Income inequality in America is at its highest level in more than 50 years (Thomas R.)

“When you have a system where inequality is rising – and where some groups are perpetually overrepresented at the bottom of the income and wealth distribution, even when they follow the standard prescription for realizing the American Dream – it’s a recipe for a politically and socially divided nation,” said Cornell sociology professor Kim Weeden, director of the school’s Center for the Study of Inequality.

Voter support for universal basic income grows: poll (thc0655)

During his opening remarks at the third Democratic debate, Yang debuted a pilot program for his universal basic income plan, calling on Americans to enter a giveaway to become one of 10 families to receive $1,000 a month for a year.

Though Yang said that his campaign received more than 500,000 entries for the contest, the plan has generated some criticism from his fellow contenders, including top-tier candidate Sen. Bernie Sanders (I-Vt.).

U.S. Economy Cools on Consumer Spending, Equipment Orders (Thomas R.)

The data suggest more moderate economic growth in the third quarter, adding focus to next week’s September jobs report to show whether the labor-market slowdown is deepening. At the same time, solid income gains and a still-healthy employment should keep supporting consumption and extend the record-long U.S. expansion in coming months, as wages and salaries posted the biggest increase since March.

Imran Khan warns UN of potential nuclear war in Kashmir (Sparky1)

The Muslim-majority territory is currently under heightened security, while mobile and internet services have been cut, but Khan predicted a popular backlash once such measures are lifted.

“They’ll come out on the streets. What happens then?” Khan told journalists at the UN general assembly. He pointed to the presence of a 900,000-strong Indian force there currently enforcing security.

Military sees frustrating trend as suicides spike (Sparky1)

The difficulties involved in identifying service members with possible problems and finding ways to prevent suicides were underscored earlier this month when the Navy reported that three crew members who served on the USS George H.W. Bush took their own lives within a week.

An honest look at the personal financial crisis (pinecarr)

Millions of baby boomers are moving into their senior years with empty pockets and declining choices to earn a living. And right behind them is a younger generation facing the same challenges. In this deeply personal talk, author Elizabeth White opens up an honest conversation about financial trouble and offers practical advice for how to live a richly textured life on a limited income.

Imran Khan urges UN to intervene in Kashmir dispute, warning of bloodbath and nuclear war (Thomas R.)

Pakistan’s prime minister, Imran Khan, warned the UN of the threat of a ‘bloodbath’ in Kashmir and the danger of a nuclear war breaking out over the divided region. In a speech to the annual United Nations general assembly on Friday, Khan said: ‘These 900,000 troops, what are they going to do? When [the people] come out? There will be a bloodbath.’ He urged world leaders to give the people of Kashmir the right of self-determination, saying that ‘this is the time to take action’.

China Markets to Test the Risk of Most Extreme U.S. Threat Yet (Thomas R.)

U.S. investment in China’s domestic markets are limited — residents had $203 billion of long-term mainland Chinese financial assets as of June, little more than double that held in South Africa, according to the U.S. Treasury. Far bigger is the $1.2 trillion market capitalization of Chinese companies on three key U.S. exchanges as of February, according to a report by the U.S.-China Economic and Security Review Commission.

Anti-Defamation League adds 36 new symbols to ‘hate’ database (Sparky1)

The group said the sign has become a “popular trolling tactic” and is now used in some circles as a “sincere expression of white supremacy.” Australian shooter Brenton Tarrant flashed the symbol during a court appearance last spring for killing 50 people at two New Zealand mosques.

Financial System Disappearing into Black Hole – Egon von Greyerz (pinecarr)

The massive amount of money printing to keep the fiat system afloat is just starting. EvG contends, “This is just a practice round. This is just more money at this point. The balance sheet . . . of the Fed is going to go from around $4 trillion to $40 trillion. It is going to go to $100 trillion before this is over.

In California, a ‘surprise’ billing law is protecting patients and angering doctors (Sparky1)

The parties who have watched California’s performance disagree, sometimes vehemently, on whether the prospect is rosy or grim. Doctor groups, particularly those representing specialties like anesthesia and emergency medicine, argue that a national version of a law like California’s would disrupt medical care so much that patients would have difficulty finding a doctor.

MSM Defends CIA’s “Whistleblower”, Ignores Actual Whistleblowers (CleanEnergyFan)

So there you have it. A mysterious stranger from the lying, torturing, propagandizing, drug trafficking, assassinating, coup-staging, warmongering, psychopathic CIA was working in the White House, heroically provided the political/media class with politically powerful information out of the goodness of his heart, and then vanished off into the Langley sunset. Clearly there is nothing suspicious about this story at all.

Kunstler: A Dumpster Fire on a Garbage Barge (CleanEnergyFan)

In the meantime, is there any question that UkraineGate has put the schnitz on Joe Biden’s political career. The notorious video of Mr. Biden bragging on his shakedown of then-president Poroshenko has been seen by everybody over age five in the USA. Hillary must be lovin’ it as she makes the rounds on her latest listening tour. Listen to this, Hillary, lost in your wicked daydreams of riding to the Democratic Party’s rescue for yet another shot at the White House: your reputation will never survive the blizzard of indictments coming down on your partisans. And one of these bills might have your name on it.

Playing with the Facts to Fool the Majority (thc0655)

The people who believe this nonsense will NEVER listen to the truth because they are the very type of people who believe only what they want to believe. That is a sad statement of fact. Just look at the presidential elections and you will see only 3 presidents ever had between 60% and 63% of the popular vote. Obama won 51.1% of the popular vote compared to Romney’s 47.2%.

The Attack on the Saudi Oil Infrastructure and the Future of Oil Prices (Thomas R.)

After an event that included attacks on two separate Aramco oil facilities in Saudi Arabia earlier this month, oil prices saw an immediate spike. While prices have softened substantially since the attacks, the price of crude is still higher than before the attacks. The market’s immediate and strong reaction to a possible decrease in supply highlights the fragile nature evident in the oil markets and pricing.

Occupy Detroit: A Look at 90 Years of Auto Strikes (Thomas R.)

In 1936, General Motors was the world’s largest automaker and the U.A.W. was a newly organized force. After trying to organize plants piecemeal, the union decided on a campaign that would force G.M. to bargain with it. Workers began an occupation of the factory in Flint, Mich., involving 2,000 workers. The 44-day struggle led to the unionization of the company.

‘What they put on the fields contaminates our water’: Iowa’s pollution problem (Sparky1)

Iowa’s world-famous soils are packed with nitrogen – a gift from nature that allowed commercial agriculture to take root here – but decades of adding synthetic fertilisers and animal manure to drive production has loaded the land with nutrients it can’t hold on to. Crop production in Iowa is still the main source, but animal manure from the state’s 20 million pigs has contributed to the problem.

Climate change could trigger droughts in wheat-growing regions (Sparky1)

Scientists used climate models to predict the likelihood of prolonged, severe droughts simultaneously impacting wheat-growing regions under a range of warming scenarios. If global warming ended today, around 15 percent of the world’s wheat crops would face an increased risk of being impacted by a large drought.

Stomp and squish: Pennsylvanians battle ‘nightmare’ bugs (Sparky1)

Dean Scott, who grows grapes for local wineries around Kutztown, has been spraying insecticide on his vines in an effort to keep the bugs at bay. It works for a few days, but they inevitably return. The carnage is evident in the blackened trunks of diseased grapes vines, and in the thousands of dead insects that litter the vineyard. One of Scott’s fellow growers left the business after losing 40 acres (16 hectares) of vines.

First gas station in America to ditch oil for 100% electric vehicle charging opens in Maryland (Thomas R.)

A public works manager for the city of Takoma Park, Maryland, first suggested to Doley a conversation with Electric Vehicle Institute.

When he told his daughter about the idea, “she said, ‘Dad, that’s a real good suggestion.’”

Southern drought deepens; 11 million affected (Sparky1)

A few miles away, April Hebert watched her 1-year-old son Collins toss rocks into a partially dried-up pond at a park in Helena. Brown leaves that are normally still green this time of year covered the ground under trees.

“It’s terrible,” she said of the drought. “I’m afraid we’re going to go straight from summer to winter without a fall.”

Tree-cutting ban in Southwest forests hurts heating needs (Sparky1)

The U.S. Forest Service said Thursday it has suspended timber sales, thinning projects, prescribed burns and the sale of firewood permits as a result of a recent court order in a 2013 case in which environmentalists accused the agency of failing to track the population of Mexican spotted owls.

EPA tells California it is ‘failing to meet its obligations’ to protect the environment (Thomas R.)

“The agency is aware of the growing homelessness crisis developing in major California cities, including Los Angeles and San Francisco, and the impact of this crisis on the environment,” Wheeler wrote. “Based upon data and reports, the agency is concerned that California’s implementation of federal environmental laws is failing to meet its obligations required under delegated federal programs.”

Gold & Silver

Click to read the PM Daily Market Commentary: 9/26/19

Provided daily by the Peak Prosperity Gold & Silver Group

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