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Plastics recycling is a socialist tax scheme to make liberals feel better.


Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. We also cover hedges, derivatives, and obscura. And it bears mention that most of these items are from the “tangibles heavy” contrarian perspective of SurvivalBlog’s Founder and Senior Editor, JWR. Today’s focus is on Recycling. (See the Commodities section.)

Precious Metals:

Gold Price Goes ‘Thunk’…And ‘Tis A Good Healthy Thing

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From H.L.: The Arms Race Between Gold Counterfeiters and Bullion Testers Is Heating Up. JWR’s Comment:  This is yet another reason that I prefer buying circulated pre-’65 silver coins. (Since they are much more rarely counterfeited than gold.) Anyone who plans to buy gold bullion coins should buy a set of Fisch coin checkers. If the gold counterfeiting problem gets any worse, then it might reduce us to trusting only  PCGS or NGC slabbed Gold Eagles.

 

Economy & Finance:

At Zero Hedge: Foreigner Boycott Of US Treasurys Continues: 7Y Auction Indirects Tumble To 3 Year Low

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Next, over at The Wall Street Journal: In This Oil Boom Town, Even a Barber Can Make $180,000.  The article starts off with this: “One of America’s hottest labor markets is in West Texas, where the brisket is scarce, the ‘man-camps’ are full, and oil workers with no time to spare pay $75 to skip the line at the barber shop.”

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Home Prices in Sydney & Melbourne Spiral Down, Bust Spreads. IMF to Regulators: “Reinforce Financial Crisis Management”

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Michael Snyder: 18 Really Big Numbers That Show That The U.S. Economy Is Starting To Fall Apart Very Rapidly

Related:  "...being condemned of himself." - Titus 3:5-11(KJV)

Taxes:

On to this by Martin Armstrong, at LewRockwell.com: California to Tax Anything & Everything They Can Think Of

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What you actually take home from a $200,000 salary in each state.

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Do Budget Deficits Matter? Not to Today’s Left or Right

Commodities (Recycling):

You may have missed this news: China announces import ban on an additional 32 scrap materials–Chinese government identifies 16 materials to be banned by the end of 2018, another 16 at the end of 2019. JWR’s Comments:  The U.S. plastics recycling industry was already struggling. China’s phased ban may now further expose the farcical American consumer plastics recycling “industry.”  The fact is that it was never really much of an industry. U.S. consumer plastics recycling is a socialist tax scheme, aimed at making liberals feel better. Already, a large percentage of the “recycled” plastics were bypassed from recycling and instead sent to landfills. Now, with China’s ban, the vast majority of plastics from curbside “recycling” pick-ups will end up in landfills. Hence, homeowners will continue to pay a huge “recycling” fees to have most of their plastics taken to the dump.

Let me put this bluntly: Consumer plastics recycling is merely a feel good tax scheme, and should be abolished!  The only consumer curbside recycling programs that make sense are those that are profitable. Namely, those for newsprint paper and aluminum cans. And for those, people should be paid, rather than taxed or billed. Most of the other schemes are merely expensive window dressing, to appease the bleeding heart crowd. State mandated per-bottle “fees” and curbside plastics recycling are excesses of government coercive force and theft, imposed on citizens. The only difference between the fictional Tony Soprano handing your Waste Management and the government doing so is that the government’s shakedown is under color of law.

Related:  5 Surprising Self-Defense Tips To Crush Attackers

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U.S. Approves $3.2B Appalachian Natural Gas Pipeline

 

Cryptos:

QuadrigaCX Wallets Found Empty, Mystery of $150 Million Missing Crypto Deepens

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Ethereum Upgrades as Hard Forks Activate on Blockchain

 

Tangibles Investing:

Where Free Land Can Be Found in the 21st Century

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Reader DSV suggested this: Best Five States to Avoid High Property Taxes

 

Provisos:

SurvivalBlog and its Editors are not paid investment counselors or advisers. Please see our Provisos page for our detailed disclaimers.

News Tips:

Please send your economics and investing news tips to JWR. (Either via e-mail of via our Contact form.) These are often especially relevant, because they come from folks who particularly watch individual markets. And due to their diligence and focus, we benefit from fresh “on target” investing news. We often get the scoop on economic and investing news that is probably ignored (or reported late) by mainstream American news outlets. Thanks!



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