Daily Digest

Daily Digest 3/12 - Fed Officials Await Clear Economic Signals, Up To 47 Dead In Homs, Japan's Energy Rebellion

Monday, March 12, 2012, 11:43 AM
  • As Fed Officials Prepare to Meet, They Await Clearer Economic Signals
  • The Unpersuaded
  • 'Many Dead' In Fresh Homs Attacks
  • ut Of Course It's Not One Giant Cesspool Now Is It?
  • High Oil Prices Cushion Iran from Sanctions
  • Japan's Energy Rebellion
  • How The Yakuza Went Nuclear
  • Nuclear Disaster in Japan Was Avoidable, Critics Contend

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Economy

As Fed Officials Prepare to Meet, They Await Clearer Economic Signals (jdargis)

The Fed plans to complete by the end of June its current campaign to suppress long-term interest rates, keeping borrowing costs low for businesses and consumers. Some Fed officials see no reason for new measures, as the economy appears to be gaining strength. Others are eager for a new campaign, arguing that the recovery remains weak. But public remarks by Fed officials suggest a decision will not come before the committee’s next meeting in April.

The Unpersuaded (jdargis)

'Many dead' in fresh Homs attacksNo Speaker of the House had ever refused a President’s request to address a joint session of Congress, but the House Republicans refused to budge, and the back-and-forth, which was dominating and delighting the political news media, threatened to overwhelm the President’s message on jobs. In the end, Obama agreed to speak on the eighth.

'Many Dead' In Fresh Homs Attacks (jdargis)

Mr Hague's comments echoed those of the UN Secretary-General Ban Ki-moon who said the Syrian government had "failed to fulfil its responsibility to protect its own people and instead has subjected its citizens in several cities to military assault and disproportionate use of force".

ut Of Course It's Not One Giant Cesspool Now Is It? (June C.)

Take a minute and read that last line again for me. Now think about buffoon extraordinaire Cramer's admonition "of course he's not a hack he's been on CNBC before". Think about Quintanilla's question to serial ponzi-ist Allen Stanford "Whats it like to be a billionaire". Think about all the grovelling and ass kissing of the D.C. and Wall St. oligarchy by the boobs and boobs in chairs from the propaganda network CNBC. JPMorgan will pull their advertising from the offending network if they have someone on again?!

Energy

High Oil Prices Cushion Iran from Sanctions (James S.)

Some of Iran’s problems will come from tanker companies being unable to secure insurance if they carry Iranian petroleum. This obstacle, however, is likely to be overcome by trucking gasoline through Asia and by building overland pipelines to Pakistan, India and China. Pakistan is already openly defying the US on this score. Petroleum is fungible, and once it leaves Iran, it is hard to see how it can be sanctioned. In essence, it can be laundered. During the sanctions on Iraq in the 1990s, the Baath regime was able to smuggle petroleum through Jordan and Turkey and to squirrel away billions with which to cushion its officials. The Iraqi middle classes were destroyed, but that development benefited the regime, since they no longer had the wherewithal to oppose it.

Japan's Energy Rebellion (guardia)

The anti-nuclear movement grows in the wake of public distrust of TEPCO. CNN's Kyung Lah reports.

How The Yakuza Went Nuclear (guardia)

Tepco has long been a scandal-ridden company, caught time and time again covering up data on safety lapses at their power plants, or doctoring film footage which showed fissures in pipes. How was the company able to get away with such long-standing behaviour? According to an explosive book recently published in Japan, they owe it to what the author, Tomohiko Suzuki, calls "Japan’s nuclear mafia... A conglomeration of corrupt politicians and bureaucrats, the shady nuclear industry, their lobbyists..." And at the centre of it all stands Japan's actual mafia: the yakuza.

Environment

Nuclear Disaster in Japan Was Avoidable, Critics Contend (jdargis)

But some insiders from Japan’s tightly knit nuclear industry have stepped forward to say that Tepco and regulators had for years ignored warnings of the possibility of a larger-than-expected tsunami in northeastern Japan, and thus failed to take adequate countermeasures, such as raising wave walls or placing backup generators on higher ground.

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."

12 Comments

saxplayer00o1's picture
saxplayer00o1
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Posts: 2592
Poet's picture
Poet
Status: Diamond Member (Offline)
Joined: Jan 21 2009
Posts: 1840
Re: The Unpersuaded

Re: The Unpersuaded: Who listens to a President?

It's interesting how the research shows, going back in time, that when a President gives a speech about something or tries to publicize it, the other party is incentivized to oppose it. And even when there is a better chance of success in trying to work behind the scenes and not publicize an agenda item, the other party still has the incentive to oppose it because if the President wins, the other party loses.

Pretty good proof that we inherently have a system where bipartisan compromise is less and less likely to occur and problems don't get solved. That with political contributions, lobbying, revolving door jobs, regulatory capture, lack of term limits, and the ability to insert any irrelevant amendment into a bill, and we have a system geared against the American people.

No wonder smart groups like Goldman Sachs donate to BOTH parties and to both sides of presidential campaigns. And both sides find it easy to support and pass and sign bills that increase government powers to radically reduce civil liberties and protections.

Poet

rhare's picture
rhare
Status: Diamond Member (Offline)
Joined: Mar 30 2009
Posts: 1267
We need much less compromise!

Poet wrote:

that when a President gives a speech about something or tries to publicize it

Perhaps the problem is the lies.  In this case the article was talking about the president pushing the "American Jobs Act" - yet another way for the government to spend billions that we don't have.  Perhaps if we had a president that would get up and say "We are broke, you have been lied too, the promises of the past can not be fulfilled.  You can not have wealth created out of thin air - it requires work.  On top of that we are facing hard times due to dwindling resources and we need to figure out how we will move forward and what should be the priorities with realistic assumptions."  But no, we are bombarded with messages about how the government is going to solve the problem with resources it doesn't have. UGHHH.

Poet wrote:

Pretty good proof that we inherently have a system where bipartisan compromise is less and less likely to occur and problems don't get solved.

...

And both sides find it easy to support and pass and sign bills that increase government powers to radically reduce civil liberties and protections.

These two statements are contradictory. We have had too much compromise - not too little.  It's easy as you state for politicians to reach compromise - "You let me bomb this country and I'll let you increase some social welfare program".  "You let me search people at random and I'll let you force citizens to pay for contraception".....  All the while no discussions at all about how all this will be paid for since we can always just add a little more to the tab.  What do you think "and the ability to insert any irrelevant amendment into a bill" is?  That's compromise!

So, no we don't need compromise, we don't need politicians able to persuade us, we need politicians to have some moral backbone, hold their ground and not hand us a pile of sh*t because a little sugars been poured on it.  We need politicians who will discuss the real problems and level with the public.

I found that article was just another propaganda piece pushing the left/right paradigms.  It would be nice if the New Yorker and many of the other magazines also choose to bring up the hard topics!  But no, so much easier to point the finger at the opposition.  For that article promotes that it should be "easier" for compromise to be made, while our founding fathers knew that goverment if allowed to grow would be problematic.  It's why we have a that government was specifically designed to be hard to get things done.  However we massively crippled that feature by limiting the number of representatives in the house.  We need to get back to much representative proportions, say 10,000 members of the house.  Then we would get to see what it should really take to get legislation passed.  That would also go a long ways to solving "political contributions, lobbying, revolving door jobs, regulatory capture".

 

MarkM's picture
MarkM
Status: Platinum Member (Offline)
Joined: Jul 22 2008
Posts: 755
Beautiful, just beautiful

From the story on UNC.

"If approved, the tuition increase would make the total cost of attending the school in Greeley $17,064 per year. Trustees hope to offset the increase for students with financial aid."

We continue to attempt to prop up this fantasy world with more indebtedness. Indentured servitude lives.

Denny Johnson's picture
Denny Johnson
Status: Gold Member (Offline)
Joined: Aug 13 2008
Posts: 324
rhare wrote: Perhaps if we

rhare wrote:
Perhaps if we had a president that would get up and say "We are broke, you have been lied too, the promises of the past can not be fulfilled.  You can not have wealth created out of thin air - it requires work.  On top of that we are facing hard times due to dwindling resources and we need to figure out how we will move forward and what should be the priorities with realistic assumptions." 

Rhare for President!!!

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 2592
Helix's picture
Helix
Status: Bronze Member (Offline)
Joined: Sep 20 2008
Posts: 42
rhare wrote: It would be

rhare wrote:

It would be nice if the New Yorker and many of the other magazines also choose to bring up the hard topics! 

Not a chance.  First of all, most Americans don't want to think about the hard topics.  It's too, well, hard!  Furthermore, it no longer matters what Americans think.  Corruption rules.  This is why cultures fall.  Entrenched corruption shreds the social cohesion that makes societies work.

Until money is taken out of Political campaigns and lobbying is placed under strict supervision, America will be continually gutted.

Welcome to the 3rd world.

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 2310
Double Helix

Helix said.

Welcome to the 3rd world.

I have wasted my life. I should have stayed in central Africa.

Sigh! We had such an audacity of hope for Bob Mugabe.

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 2592
Wendy S. Delmater's picture
Wendy S. Delmater
Status: Diamond Member (Offline)
Joined: Dec 13 2009
Posts: 1465
Mugabe?

In case someone missed Authur Robey's little dig, this is who Robert Mugabe is. Yes, the man who presided over Zimbawean hyperinflation.

locksmithuk's picture
locksmithuk
Status: Bronze Member (Offline)
Joined: Dec 19 2011
Posts: 30
safewrite wrote: In case

safewrite wrote:

In case someone missed Authur Robey's little dig, this is who Robert Mugabe is. Yes, the man who presided over Zimbawean hyperinflation.

Oh, he has presided over a lot, lot more: here - let me show you my scars.

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