"Science and technology as the primary productive powers generate an inexhaustible force that drives the advancement of human civilization. Humanity has made huge leaps from agricultural to industrial civilization, and is now facing renewed scientific and technological revolutions and industrial transformations, and if the states seize the opportunities these offer, they could enjoy dynamic economic growth and a better life for their people."
Chinese President Xi Jinping
Speech to the 10th BRIC heads of state summit in Johannesburg, South Africa
July 26, 2018
A Note To Readers
With an inspiring cultural optimism that has been lost in the U.S. and Europe, President Xi emphasized the crucial role of scientific progress as the engine of economic construction and the pathway for once and for all ending global poverty. I urge everyone to read his full speech and see how this idea can give real content to the intent of President Trump to rebuild the nation with a new industrialization and infrastructure building vision.
July 26, 2018
http://www.chinadaily.com.cn/a/201807/26/WS5b5a80e3a31031a351e90857.html
In This Week's Report
The photo above illustrates the dominant news story this week, and this report attempts to highlight the more important elements of the story.
That follows some drought and weather news.
Then we have the increasingly bitter and existential fight, covered more extensively last week, of
the California State Water Resources Control Board proposal that would require 40 percent unimpeded flows from February to June on the Tuolumne, Stanislaus and Merced rivers, which are tributaries into the San Joaquin River that feeds the San Joaquin Delta. The move, in what it says is an effort to save the Delta’s failing ecosystem, angered farmers, politicians and many others throughout the Central Valley.
In the economics section of this week’s report we begin with Jamie Dimon saying “I don’t want to scare the public,” but, he continues, the system might collapse as the quadrillion-dollar bubble built up since the 2008 collapse by Quantitative Easing react to higher interest rates on the speculative garbage.
That is followed by a few of items on California almonds, the tariff developments and the President’s very cordial discussions with the new incoming President of Mexico.
The concluding section this week returns us to following the LaRouche’s Economics 8-Week Course.