Economy
Trump and Xi to meet after defiant China hits U.S. with new tariffs (TS)
The prospect that the United States and China were spiraling into a no-holds-barred dispute that could derail the global economy has rattled investors and led to a sharp selloff on equities markets in the past week.
A gauge of global stocks shed a further 1.9% on Monday, its biggest one-day drop in more than five months. China’s yuan currency fell to its lowest level since December and oil futures slumped.
Accused of ‘Terrorism’ for Putting Legal Materials Online (newsbuoy)
This is part of a disturbing trend, according to a new law review article, “Who Owns the Law? Why We Must Restore Public Ownership of Legal Publishing,” by Leslie Street, a law professor and librarian at Mercer University in Macon, Ga., and David Hansen, a librarian at Duke. It will be published in The Journal of Intellectual Property Law.
The Crash In US Economic Fundamentals Is Accelerating (Thomas R.)
GDP rigging is mostly a government affair, as much of how GDP is calculated today includes government spending. So, even though the government has to steal your money through taxation in order to then spend money, government spending is still counted as “production”. This includes programs like Obamacare, which despite assumptions among some conservatives, continues to operate today. “Official” establishment estimates of government spending as a percentage of GDP stand at around 20%. More accurate estimates accounting for ALL expenditures show that US government spending accounts for around 35% of GDP. This is an enormous fraud.
Supreme Court Rules Against Apple, As Kavanaugh Sides With Liberal Justices (TS)
The theory of the lawsuit is that Apple’s 30% commission charge to app developers is often passed on to consumers — creating a higher-than-competitive price — and that competitors are shut out because Apple prevents iPhone owners from buying apps anywhere other than its App Store.
Apple sought to block the lawsuit, asserting that it had not set the prices on the apps and thus the iPhone owners had no standing to sue.
Emerald Trash Heap (thc0655)
Only a few years ago, while Jenny Durkan, now mayor, was campaigning for office on a centrist policy platform, city government responded to growing public discontent and made an honest effort to clean up the streets. From 2017 to 2018, municipal cleanup crews picked up 8.6 million pounds of trash from illegal homeless encampments. Since then, however, the numbers have fallen off dramatically, partly because of pressure from activists to “stop the sweeps” of homeless encampments, which they call inhumane and unconstitutional. In the first four months of this year, municipal crews have cleaned up only eight sites.
Saudi oil tankers among those attacked off UAE amid Iran tensions (Sparky1)
A U.S. official familiar with American intelligence said Iran was a leading candidate for having carried out the attacks but the United States does not have conclusive proof.
“It fits their M.O. (modus operandi),” said the official on condition of anonymity, suggesting Iran’s statements distancing itself from the incident were an attempt “to muddy the waters.”
LNG Shippers Gear Up For Hurricane Season (Michael S.)
Foerster says that the mild hurricane season expectations are based on the continuing El Nino making the Atlantic warmer, with a warmer ocean meaning fewer hurricanes. However, this El Nino is a weak one and it could weaker further as hurricane season progresses, according to Foerster. Still, early forecasts suggest at least three hurricanes will be of major size this season with at least one of these occurring in the Gulf of Mexico.
California jury hits Bayer with $2 billion award in Roundup cancer trial (Sparky1)
It awarded $18 million in compensatory and $1 billion in punitive damages to Alva Pilliod, and $37 million in compensatory and $1 billion in punitive damages to his wife, Alberta Pilliod. The jury found Roundup had been defectively designed, that the company failed to warn of the herbicide’s cancer risk and that the company acted negligently.
Toxic algae is getting worse in the Finger Lakes (newsbuoy)
John Halfman is a geolimnology and hydrogeochemistry professor at Hobart-William Smith College and has been studying the Finger Lakes for decades. He has actively measured water temperature and said the warming over the past 25 years has been statistically significant. Warmer water and warmer air are not the only things that global climate change is influencing.
Events like the record flooding in Lodi in 2018 picked up nutrients, chemicals, and everything in its path while flowing downhill and put it all into the lake. This was feed for the algae.
Climate Change and the New Age of Extinction (jdargis)
To keep nearly eight billion people fed, not to mention housed, clothed, and hooked on YouTube, humans have transformed most of the earth’s surface. Seventy-five per cent of the land is “significantly altered,” the I.P.B.E.S. noted in a summary of its report, which was released last week in Paris. In addition, “66 per cent of the ocean area is experiencing increasing cumulative impacts, and over 85 per cent of wetlands (area) has been lost.” Approximately half the world’s coral cover is gone. In the past ten years alone, at least seventy-five million acres of “primary or recovering forest” have been destroyed.
Gold & Silver
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The post Daily Digest 5/14 – Defiant China Hits U.S. With More Tariffs, The New Age of Extinction appeared first on Peak Prosperity.
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