Economy
U.S. Manufacturing Index Dips to Lowest Level in Almost a Decade (Thomas R.)
Survey respondents stated that weak client demand drove the drop in new orders for the first time in almost a decade. Some firms also noted that customers were postponing orders due to growing uncertainty about the outlook. Similarly, new business from abroad contracted by the quickest pace since April 2016 to the first decline since July 2018.
World marks 30 years since Tiananmen massacre as China censors all mention (Sparky1)
“In the past 30 years, Beijing lacked the courage to calmly reflect on the historical significance of the June 4th Incident,” the council’s statement said. “Rather, they blocked the information and distorted the truth about it and tried to conceal the crime.”
Venezuela Defaults on Gold Swap With Deutsche Bank (Sparky1)
“We’re in touch with Deutsche Bank to negotiate the terms under which the difference owed to the central bank will be paid to the legitimate government of Venezuela,” said Jose Ignacio Hernandez, Guaido’s U.S.-based attorney general. “Deutsche Bank can’t risk negotiating with the central bank’s illegitimate authorities,” particularly after it was sanctioned by the U.S. government, Hernandez said.
The real cost of Trump’s tariffs on Mexico, explained (tmn)
“The president seems not to comprehend that unilateral tariffs aren’t leverage at all. US tariffs are taxes on American households and businesses, so imposing them will always be an act of self-destruction,” Dan Ikenson, who leads trade studies at the libertarian Cato Institute, told me. “Trump may believe he can dictate demands because the smaller Mexican economy is more dependent on the US economy than vice versa, but make no mistake: Both economies would be hurt significantly by the tariff war being threatened.”
U.S. Companies Add Fewest Jobs Since 2010, ADP Data Show (Sparky1)
Private payrolls increased by 27,000 after a downwardly revised 271,000 gain in April, according to data released Wednesday by the ADP Research Institute. That compares with the median estimate of 185,000 in a Bloomberg survey of economists.
New York school district pauses on facial recognition system (Sparky1)
According to the district’s website, the facial recognition system works by comparing faces or objects found in video footage with objects like guns or people in a database of unwelcome visitors. Those people include level 2 or level 3 sex offenders, students who are currently suspended from school, anyone previously barred from school property, or anyone otherwise deemed a threat to school safety “based on credible information,” according to the district.
A bill to halt facial recognition tech in schools (Sparky1)
The district has specified that the tests will not include student data being entered into the system. They’ve also said that this week’s testing will only include components of the system that don’t involve the use of facial recognition software, but adjusting mounted cameras, for example. But legislation in the state Assembly could potentially stop the testing. “Facial recognition software is new and untested, especially in schools,” Assemblywoman Monica Wallace, the bill’s sponsor, said in an emailed statement. “There are real questions about its reliability. There are real questions about who will have access to sensitive student biometric data and how that data may be used.”
The Peasants’ Revolt (thc0655)
After the king had acceded to all demands, the rebels disbursed. Once they were down to just a few hundred in number, they were set upon and killed. The tax was repealed, but none of the freedoms that had been promised were delivered upon.
And as incredible as it may seem, that was the end of the matter. Once life was merely tolerable again, the people of England caved in and accepted subjugation to the king. Once the tax was gone, they abandoned their quest for more meaningful freedom.
At the same time, the robot could display images, video and speak with people — potentially letting users meet people and make new friends remotely.
However, it is not known whether Facebook will follow through on the patent filing and make the rough robot designs a reality.
Crypto Commons (Paul B.)
The truly important question should be way bigger than this: How can crypto-powered businesses create new types of abundance? How will blockchains drive our standard of living forward exponentially? How will we see the creation of tens of trillions in new value like we did with the stock market in the last 150 years?
The answer lies in how crypto can transform the tragedy of the commons into the wealth of the commons.
Truth, Lies and Inflation (GE Christenson)
The Fed (and other central banks) engaged in massive Quantitative Easing—bond monetization or “printing currencies” for the past decade. Other central banks created currencies and bought bonds, stocks, ETFs, gold and politicians with their created “from thin air” currency units. QE works well for the financial and political elite, but not for “Main street” USA, the French “Yellow Vests” or most of the bottom 90%.
A Look at the Future of Lithium Ion Batteries (Thomas R.)
“For some equipment that travels at low speeds, we tended to use lead-acid batteries, where they don’t have to go long distances and don’t mind a little extra weight,” Abraham says, citing forklifts and other older battery-powered equipment. “But the great thing about lithium-ion is its energy and power density is really good, so the batteries can be smaller and lighter.” This allows for more batteries to be packed into the same space, allowing for longer runtimes and greater power availability.
Oilfield Services Feel The Pain As Crude Prices Drop (Michael S.)
While larger players, including supermajors Exxon and Chevron, are expanding their Permian presence and aim to grow production volumes significantly over the next few years, small, third-tier exploration and production companies across the U.S. were struggling even at WTI Crude prices of above $60 a barrel.
The sight has provoked an outcry among the astronomy community, with the development seen as a new headache for researchers who already have to find workarounds to deal with objects cluttering their images of deep space.
Climate change could pose ‘existential threat’ by 2050: report (tmn)
Its foreword is written by Chris Barrie, a retired admiral and former head of the Australian Defense Force, who said that “after nuclear war, human-induced global warming is the greatest threat to human life on the planet.”
Ocean Acidification Innovation Act of 2019 (newsbuoy)
To authorize Federal agencies to establish prize competitions for innovation or adaptation management development relating to ocean acidification.
Gold & Silver
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The post Daily Digest 6/6 – Climate Change Could Pose ‘Existential Threat’ By 2050, The Real Cost Of Tariffs On Mexico appeared first on Peak Prosperity.
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