Daily Digest 3/22 - Italy Takes On Generation-Dividing Laws, Mike Maloney & Jim Rogers, Obama Prepares For War Footing
- Sweden Moving Toward Cashless Economy
- They Made Main Street Their Own: How Four Women Revived a Derelict Mississippi Town
- Stuck in Recession, Italy Takes on Labor Laws That Divide the Generations
- Muppets 1, Gollums 0
- Analysis: The AIJ Scandal And Japan's Pension Time Bomb
- London Trader - Sovereign Gold Buyers to Raise Their Bids
- How One Man Escaped From A North Korean Prison Camp
- Mike Maloney & Jim Rogers
- Antal Fekete Responds To Ben Bernanke On The Gold Standard
- Barack Obama Prepares for War Footing
- Startup Converts Plastic To Oil, And Finds A Niche
- Things That Make You Go Hmmm - Such As $4.00 Gas (Again)
Sweden Moving Toward Cashless Economy (June C.)
Bills and coins represent only 3 percent of Sweden's economy, compared to an average of 9 percent in the eurozone and 7 percent in the U.S., according to the Bank for International Settlements, an umbrella organization for the world's central banks.
Three percent is still too much if you ask Ulvaeus. A cashless society may seem like an odd cause for someone who made a fortune on "Money, Money, Money" and other ABBA hits, but for Ulvaeus it's a matter of security.
Coulter Fussell, 34, an artist and an owner of Yalo Studio, a gallery a couple of doors down the block on the town’s Main Street, favors a crowbar. Megan Patton, also 34, an artist, waitress and Ms. Fussell’s gallery partner, likes to use a hammer and a screwdriver. Erin Austen Abbott, 36, a photographer, gift shop owner, pop-up gallery impresario and travel nanny, doesn’t care what tool she uses, as long as she has company.
The Linza family is emblematic of a yawning generational divide that experts say is crippling the Italian labor market. While older workers came of age with guaranteed jobs and ironclad contracts granting generous pensions and full benefits, younger Italians — the best-educated in the country’s history — are now paying the price. They are lucky to find temporary work, which offers few benefits or stability.
Muppets 1, Gollums 0 (June C.)
I have no problem with the staff of Goldman Sachs earning millions. I have no problem with their 16-hour work days (or the fact that they seem to turn many of their number into Gollum-like bald freaks well before their time). I have no problem with their clannish, hubristic, insular culture, having never wanted to work for the Moonies. My main problem with Goldman Sachs is that if it operated like any other business in the world, when it and its business model effectively failed in 2008 it should have been allowed to fail properly, and closed down. But that is not what happened.
"We've been in the red every year since 2007. The additional funds needed for this pension installment is killing our business. I've sold everything from stocks to golf memberships to keep us afloat," said Nagata, sitting on a torn sofa on the second floor of the old wooden building that has served as company headquarters for half a century.
"I'm talking with banks now in preparation to make the repayment by the end of August. But if I can't then we'll be in serious trouble."
The Iranians are claiming the West saying Iran’s nuclear program is a threat is all nonsense. It’s merely an excuse because the US will threaten and attempt to take down any country which threatens the reserve currency status of the dollar -- the same way the US took down Saddam Hussein and Moammar Gadhafi.
If Shin's mother met her daily work quota, she could bring home food. At 4am, she would prepare breakfast and lunch for her son and for herself. Every meal was the same: corn porridge, pickled cabbage and cabbage soup. Shin was always hungry and he would eat his lunch as soon as his mother left for work. He also ate her lunch. When she came back from the fields at midday and found nothing to eat, she would beat him with a shovel.
Mike Maloney & Jim Rogers (adam)
Today all Gold and Silver Weekly subscribers will be receiving the latest insights of Mike Maloney as he chats with Jim Rogers about markets, Bernanke, the East/West Cycle and more.
Mises fails to answer his own question why gold is the best choice to serve as money. Indeed, why not another commodity, or a basket of commodities? The reason is that the marginal utility of gold is unique in that it declines at a rate slower than that of any other substance on Earth. Various assets have various marginal utilities which determine their value. All of them decline, albeit at various rates. In other words, economic actors accumulate assets increasingly reluctantly, up to their satiation point that will be reached sooner or later. For gold, this point is removed farther, so far indeed that for all practical purposes it is beyond reach.
Barack Obama Prepares for War Footing(Sandy S.)
If Iran was struck by Israel or the West, or if Iran thought it might be struck, the Tehran regime has promised it would block the Strait of Hormuz, which would obstruct some 40 percent of the world's seaborne oil, some twenty percent of the global supply, and about 20 percent of America's daily needs. Moreover, Tehran has promised military retaliation against any nation it feels has harmed it. The United States is at the top of the list.
It all starts with a machine known as the Plastic-Eating Monster. Thousands of pounds of shredded milk jugs, water bottles and grocery bags tumble into a large tank, where they're melted together and vaporized. This waste comes from landfills and dumps from all over the United States.
"Basically, they've been mining their piles for us and sending them here," says John Bordynuik, who heads his namesake company, JBI Inc. He invented a process that converts plastic into oil by rearranging its hydrocarbon chains.
comparison of the oil price forecasts from various oil producers reveals that, in the period of 1999 to 2010 Mexico, Saudi Arabia, and Russia made the most accurate forecasts. All three of them also came closest to the actual price last year, which is why it makes sense to listen to their expectations. For 2012 they predict substantially higher oil prices. Saudi Arabia expects an average WTI price of USD 97, Mexico forecasts USD 116, and Russia USD 120/barrel. Iran has given the highest forecast at USD 137/barrel.
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