Originally published at: https://peakprosperity.com/daily-digest/raise-the-colors-musk-endorses-ubi-states-consider-mileage-taxes-colorado-to-enforce-pronoun-crimes/
Economy
In the UK, an economic expert has warned of the possibility of an IMF bailout, citing rising bond yields and a growing debt burden, compounded by policy decisions such as tax changes that may be driving wealth out of the country. The UK Treasury, however, has stated that an IMF bailout is not under consideration, emphasizing domestic fiscal strategies to address challenges.
In Germany, the economy remains in recession, with small and medium enterprises (Mittelstand) experiencing revenue declines and job losses, while a government “investment booster” program has reportedly not provided significant relief. Reuters notes a slight improvement in Germany’s service sector, suggesting not all areas are equally affected and hinting at possible stabilization.
In the US, market valuations are at historic highs, with metrics like the Buffett Indicator suggesting limited future returns and elevated risk. Conversely, CNBC reports that some Wall Street analysts believe current valuations are justified by tech sector growth and AI potential. Additionally, first-time home buyers in the US are older than ever, with a median age of 38, attributed to rising home prices, high mortgage rates, and financial pressures such as student debt, according to recent data.
On a separate note, Elon Musk has proposed a Universal High Income to address job displacement caused by AI, though critics have raised questions about its funding and practicality. Economist Paul Krugman has expressed skepticism, arguing that the concept lacks a clear economic model for implementation.
US Politics
Several states, including Massachusetts, Colorado, and Oregon, are exploring mileage taxes and tracking programs aimed at monitoring and restricting driving habits, often presented as measures to address environmental or traffic issues. Critics, however, have raised concerns that these initiatives could disproportionately affect rural and low-income drivers and may lack sufficient voter input. Supporters, such as Green Future, argue that reducing vehicle miles traveled is crucial for combating climate change and improving air quality.
Separately, Colorado has passed a law requiring businesses to use customers’ preferred pronouns and names, with penalties of up to four months in jail for non-compliance. This measure has sparked debate over issues related to compelled speech and free speech, with some observers noting its potential as a precedent for similar policies elsewhere. The ACLU of Colorado defends the law, stating it protects transgender individuals from discrimination without infringing on free speech.
Energy
The United States is not recovering critical minerals such as cobalt and germanium, which are essential for electric car batteries and defense technology, despite mining them at existing facilities. According to a new analysis published in Science, these elements are being lost as tailings from other mining operations. The study suggests that recovering even a portion of these minerals could help meet national demand, though they currently remain unutilized, raising economic and environmental concerns. However, some industry experts caution that reprocessing tailings may be cost-prohibitive and technically challenging, suggesting that new mining operations might still be necessary to meet demand, as reported by Global Mining News.
In California, lawmakers are considering changes to fossil fuel policies amid concerns over potential energy shortages. With refinery closures and high gasoline prices impacting supply, Governor Gavin Newsom and state officials have proposed easing drilling restrictions, particularly in Kern County, to stabilize the situation. This represents a departure from previous decarbonization targets, and environmental groups have expressed concerns about the potential long-term impacts of such policy shifts. The Sierra Club has criticized this move, arguing it undermines climate goals and that the focus should remain on renewable energy transitions, according to their recent statements.
European Politics
In the UK, a grassroots movement called “Raise The Colours” is gaining attention as citizens display English and Union Jack flags. The campaign has emerged in response to reported incidents of flag removal by local councils or individuals, with some claiming the flags are offensive to certain groups. Supporters of the movement, which has also spread to Scottish towns, have increased flag displays and painted symbols of national pride in public spaces. The initiative reflects ongoing discussions about free speech and national identity in the context of broader cultural and policy debates. The Guardian reports mixed public reactions, with some viewing the movement as exclusionary, while others see it as a celebration of heritage.
Health
A review of COVID-19 vaccines by the Advisory Committee on Immunization Practices (ACIP) is currently underway, with investigators such as Retsef and Malone reportedly requiring top-secret clearances to access classified data on the virus’s origins and spike protein. According to sources familiar with the process, this information is considered crucial for evaluating vaccine safety risks, including potential cardiovascular events and immune responses. The review aims to address gaps in pre-action planning and provide insights into the pandemic response, with the potential to inform future biodefense strategies. Reuters, however, suggests that the need for such clearances may be overstated, as existing unclassified data is sufficient for a thorough safety review.
Sources
US Discards Vital Minerals Needed for Energy and Defense, Study Reveals
These minerals, such as cobalt, lithium, gallium and rare earth elements like neodymium and yttrium, are currently being discarded as tailings of other mineral streams like gold and zinc.
Source | Submitted by Shplad
UK Faces Potential IMF Bailout as Economic Crisis Looms, Warns Expert
“I’m in a world in which I could imagine it [an IMF bailout] happening, and we’ll be bereft in that case.”
Source | Submitted by pnwdefector
Global Bond Yields Signal Crisis: Is the Financial System on the Brink of Collapse?
Long bond yields, I mean, simple as that. In all the four major currencies, you know, dollar, euro, Japanese yen, sterling, the 30-year bonds are all moving into new high ground.
Source | Submitted by rhollenb
States Quietly Push to Limit Your Driving Freedom with Mileage Taxes and Tracking
A government-mandated limit on personal travel is no longer hypothetical — it’s being drafted right now.
Source (Paywalled) | Submitted by DocG
German Economy Sinks Deeper: Mittelstand Crumbles as “Investment Booster” Fails
The German economy shows no signs of emerging from recession.
California Lawmakers Shift Gears on Fossil Fuels Amid Looming Energy Crisis
“This is the fundamental thing we’re trying to solve for, and I don’t think anyone believes that we’re actually going to [decrease] overall demand for some mix of transportation fuels, clean or otherwise, over the next 20 years.”
Elon Musk Champions Universal High Income as AI Threatens to Replace All Jobs
It’s hard to say exactly what that moment is, but there will come a point where no job is needed. You can have a job if you want to have a job or sort of personal satisfaction, but the AI will be able to do everything.
Market Valuations: Ignore at Your Peril Until the Inevitable Reversion Hits
Valuation is the capstone of proximate causes for a market top, and the one most indicative of the potential magnitude of any subsequent selloff.
Late to the Ladder: Why First-Time Home Buyers Are Older Than Ever
By 2024, people buying homes are much older, hitting a record of 38.
“Raise The Colours” Movement Gains Momentum as Brits Defy Claims English Flag Offends Migrants
Only in England would an Englishman be refused entry into an English pub for displaying an English flag.
Ret Retsef and Malone, Need a Top-Secret Pass for That Vaccine Review?
Retsef, Malone, and team need Top Secret/Sensitive Compartmented Information (TS/SCI) clearances to access this analysis in order to actually inform their assessment of the vaccine’s safety.
Colorado Law Mandates Pronoun Use for Businesses, Non-Compliance Risks Jail Time
There is a legal obligation to do that. They’re compelled to use those pronouns and those surnames under Colorado’s law.
In addition to sources submitted by community members, the following were also used in the creation of this report: GlobalMiningNews, Sierra Club, UK Treasury, Reuters, Paul Krugman, CNBC, GreenFuture, ACLU of Colorado, The Guardian.