Daily Digest

Daily Digest 2/5 - Jim Rickards On Inflation And Currency Wars, More Unemployed Stop Looking, Record Food Prices

Saturday, February 5, 2011, 11:44 AM
  • Interview: Jim Rickards On Inflation And Currency Wars
  • Foreclosed Homeowners Go To Court On Their Own
  • Unemployment Rate Dips to 9% as More Quit Looking
  • Peak Oil And A Changing Climate
  • The Peak Oil Chronicles, Part 1: When The Giants Run Dry
  • Food Prices Worldwide Hit Record Levels, Fueled by Uncertainty, U.N. Says
  • A Food Manifesto For The Future

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

Economy

Interview: Jim Rickards On Inflation And Currency Wars (woodman)

think there is a definite and highly significant danger of inflation coming from QE and QE2 specifically. A lot of people have said, in fact, the Fed has said, that, if you look at the key price indices, the Producer Price Index (PPI), Consumer Price Index (CPI), and the Personal Consumption (PC) price deflator, they are very, they use the phrase, “well behaved”. For the past year and a half, the critics, and I would include myself, have been saying that this situation is dangerous and unstable.

Foreclosed Homeowners Go To Court On Their Own (jdargis)

In New Mexico, New York, Florida and the 20 other states where foreclosures require a judge’s approval, homeowners in default have traditionally surrendered their homes without ever coming to court to defend themselves. (In the 27 other states, including California, Nevada and Arizona, homeowners have a much harder time contesting a foreclosure even if they want to.)

That passivity has begun to recede. While many foreclosures are still unopposed, courts are seeing a sharp rise in cases where defendants show up representing themselves.

Unemployment Rate Dips to 9% as More Quit Looking (jdargis)

The reason for the big decline in the unemployment rate was that BLS's household survey reports 622,000 fewer jobless Americans. This might sound good, but if you dig deeper, you find that the workforce declined by 504,000 people. In other words, this survey says the number of employed Americans only increased by 117,000 -- far less than the decline in the number of unemployed people. Jobless Americans are leaving the workforce, not finding work.

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

Energy

Peak Oil And A Changing Climate (NZSailor)

The scientific community has long agreed that our dependence on fossil fuels inflicts massive damage on the environment and our health, while warming the globe in the process. But beyond the damage these fuels cause to us now, what will happen when the world's supply of oil runs out?

The Peak Oil Chronicles, Part 1: When The Giants Run Dry (woodman)

When we think of oil we think of transportation, the cars we drive to the jets we fly to our vacation destination. Oil, however, is used in a surprising number of other items we consume. One 42 gallon barrel of oil creates 19.4 gallons of gasoline. The rest (over half) is used to make other things.

Environment

Food Prices Worldwide Hit Record Levels, Fueled by Uncertainty, U.N. Says (Johnny Oxygen)

The F.A.O. price index, which tracks 55 food commodities for export, rose 3.4 percent in January, hitting its highest level since tracking began in 1990, the report said. Countries not dependent on food imports are less affected by global volatility. Still, food prices are expected to rise 2 percent to 3 percent in the United States this year.

This has pushed the demand and prices for American wheat much higher, with the best grades selling at 100 percent more than they were a year ago, Mr. Abbassian said. The autumn soybean harvest in the United States was poor, so strong demand means stocks are at their lowest level in 50 years, he said.

A Food Manifesto For The Future (jdargis)

Here are some ideas — frequently discussed, but sadly not yet implemented — that would make the growing, preparation and consumption of food healthier, saner, more productive, less damaging and more enduring.

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."

3 Comments

Denny Johnson's picture
Denny Johnson
Status: Gold Member (Online)
Joined: Aug 13 2008
Posts: 322
Re: Daily Digest 2/5 - Jim Rickards On Inflation And ...

http://www.financialarmageddon.com/

idoctor's picture
idoctor
Status: Diamond Member (Offline)
Joined: Oct 4 2008
Posts: 1731
MarkM's picture
MarkM
Status: Platinum Member (Offline)
Joined: Jul 22 2008
Posts: 750
Re: Daily Digest 2/5 - Jim Rickards On Inflation And ...

"Food prices worldwide hit record levels"

They mentioned everything EXCEPT central banks gone wild with fiat currency as causative agents.

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