Daily Digest

Daily Digest 2/11 - Greece Gets Approval For 2nd Bailout, The Fallen EU Leaders, Treated Wastewater Coming To A Tap Near You

Saturday, February 11, 2012, 11:46 AM
  • India Explores Economic Opportunities in Iran, Denting Western Sanctions Plan
  • Papademos Gets Cabinet Approval for 2nd Bailout
  • So What SHOULD Investors Buy In A World Fraught With Risk?
  • America’s Addiction To Debt: 30 Facts About Debt In America That Will Blow Your Mind
  • Of Jobs, Debts And Budgets
  • The Fallen
  • The Myth of Energy Independence: Why We Can't Drill Our Way to Oil Autonomy
  • As ‘Yuck Factor’ Subsides, Treated Wastewater Flows From Taps

Our 'What Should I Do?' guide has steps to cook, see & stay warm in times of power outage

Economy

India Explores Economic Opportunities in Iran, Denting Western Sanctions Plan (jdargis)

It was unclear whether Mr. Rompuy knew at the time of the interview that India’s commerce secretary, Rahul Khullar, was about to announce a big economic push into Iran that could serve to counteract the effects of the very sanctions Mr. Rompuy has helped to promote.

Papademos Gets Cabinet Approval for 2nd Bailout (jdargis)

“The social cost this program implies will be limited compared to the economic and social catastrophe that would follow if we don’t adopt it,” Papademos told his ministers earlier, according to an e-mailed transcript of his comments. “The completion of the program and financial support will cement our country’s future in the euro area.”

So What SHOULD Investors Buy In A World Fraught With Risk? (David B.)

You could chase junk bonds because they offer higher yields. But that means you’re taking on significant credit risk. You could buy emerging-market bonds, also because of their higher interest rates. But then you’re taking on the risk that those countries’ stocks, bonds and currencies will suffer from slowing global economic growth.

America’s Addiction To Debt: 30 Facts About Debt In America That Will Blow Your Mind (David B.)

Debt slavery is destroying millions of lives all across this country, and it is imperative that we educate the American people about the dangers of all this debt.

The following are 30 facts about debt in America that will absolutely blow your mind...

Of Jobs, Debts And Budgets (jdargis)

November 2011 was a bad month for consumers: evolving debt went up more than eight percent (the largest month-to-month percentage increase since 2008) and this dubious accomplishment was accompanied by the biggest month to month growth in overall consumer debt since 2001. December’s consumer credit debt increased $19.3 billion to $2.5 trillion. This rise in credit card debt was the fourth month in a row card balances grew.

The Fallen (jdargis)

Haarde was succeeded by Jóhanna Sigurdardóttir, the country's first female prime minister and the world's first openly gay elected head of government. After a dismal couple of years -- gross domestic product (GDP) contracted 9.6 percent in 2009 -- the bleeding now appears to have stopped, with growth projected at 2.5 percent for this year. A fierce debate over whether to join the European Union is likely in the coming year.

Energy

The Myth of Energy Independence: Why We Can't Drill Our Way to Oil Autonomy (jdargis)

There are plenty of good reasons for the optimism. With the development of its massive shale deposits, the United States has become the world's single largest producer of natural gas. We're so awash in it that domestic prices have plummeted to historic lows. Advances in drilling technology have also made it possible to access hard-to-tap "tight" oil reserves in states such as North Dakota. Analysts believe those fresh crude sources could yield 2.9 million barrels of oil a day by 2020, up from 900,000 today. Meanwhile, cars are getting more efficient, and fuel use has dropped after soaring during the last decade, which frees up more energy production for export. According to Bloomberg, the U.S. is already getting 81% of its energy from domestic sources, the largest share since 1992, and up 10 percentage points since 2005.

Environment

As ‘Yuck Factor’ Subsides, Treated Wastewater Flows From Taps (jdargis)

For most of the four decades beginning in 1970, the arid West was the fastest-growing region in the country; the population of Nevada quintupled in that period while Arizona’s nearly quadrupled. Continued population growth, unmatched by growth in water storage capacity, makes this a “new era in water management in the United States,” the science group’s report said.

Article suggestions for the Daily Digest can be sent to dd@PeakProsperity.com. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the "3 Es."

7 Comments

thc0655's picture
thc0655
Status: Platinum Member (Offline)
Joined: Apr 27 2010
Posts: 575
Self defense in crumbling Detroit

http://www.shtfplan.com/headline-news/take-no-prisoners-self-defense-killings-in-detroit-spike-to-2200-above-national-average-justifiable-homicide-up-79_02102012 

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 2652
Obama Budget Predicts $1.3Trillion Deficit For 2012

Obama Budget Predicts $1.3Trillion Deficit For 2012

Bill Hicks's picture
Bill Hicks
Status: Bronze Member (Offline)
Joined: Jul 3 2011
Posts: 34
Larry Summers Mocks Opponents Of Outsourcing As “Luddites”

http://billhicksisdead.blogspot.com/2012/02/larry-summers-mocks-opponent...

What Summers said:

For executives planning their strategies in light of the “new normal” economy, renowned economist Larry Summers has some important advice: “There are those today who would resist the process of international integration; that is a prescription for a more contentious and less prosperous world…We should not oppose offshoring or outsourcing.”
 
With the unemployment rate at 9.4 percent, Summers compared critics of the outsourcing of American jobs to “luddites who took axes to machinery early in England’s industrial revolution.” Unfortunately, the full of text of Summers’ remarks is mysteriously missing from the website — particularly odd given the fact that most of the other keynotes are posted online.

And my reaction:

Well, if being a luddite is wrong, I don't want to be a technophile. Note the name of this conference in question: Business Process Outsourcing/Information Technology Outsourcing Forum. That's right, the one-percenters are so hot to offshore your job to cuts costs that they actually have professional conferences to discuss how to do it. 

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 2380
The FBI and the Gold Standard.

Be careful to whom you express your views to concerning the Gold Standard.

Acording to Max Kieser and Stacey Herbert the FBI considers advocates of the Gold Standard to be extreemists. Max makes light of their absurdity, but why get your name on their computers?

Doug's picture
Doug
Status: Diamond Member (Offline)
Joined: Oct 1 2008
Posts: 2745
Quote:Acording to Max Kieser

Quote:
Acording to Max Kieser and Stacey Herbert the FBI considers advocates of the Gold Standard to be extreemists.

So does my friendly local banker.

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