Daily Digest

Daily Digest 3/25 - Ax Falls On Euro Public Financing, Petroleum Movements In N. America, West TX Facing Water Restrictions

Sunday, March 25, 2012, 10:40 AM
  • View From Abroad: U.S. Facing Woes, But Still No. 1
  • The Atlantic Magazine's Disgraceful Bernanke/Fed Propaganda (And Why You Shouldn't Buy It)
  • In Europe, Where Art Is Life, Ax Falls on Public Financing
  • Syria Continues Drive to Retake Rebel Strongholds as Diplomacy Suffers a Setback
  • MF Global’s Corzine Ordered Funds Transferred, Memo Says
  • Inter-Regional Trade Movements of Petroleum in North America
  • While The U.S. Moves Toward Energy Independence...
  • Push Comes to Shove Over Water Restrictions
  • Both Coasts Watch Closely as San Francisco Faces Erosion

Follow our steps to prepare for a world after peak oil, such as how to store & filter water

Economy

View From Abroad: U.S. Facing Woes, But Still No. 1 (thatchmo)

Abroad, foreign policy experts are following this discussion with a mix of bemusement and concern. A dozen of them, in nine countries on five continents, shared their thoughts with The Associated Press — agreeing that the U.S. stands alone as a global superpower, yet perceiving an array of weaknesses that could undermine its stature as numerous emerging powers seek a bigger role on the world stage.

The Atlantic Magazine's Disgraceful Bernanke/Fed Propaganda (And Why You Shouldn't Buy It) (solarphil)

I don’t know what has happened to Lowenstein. His book on the collapse of hedge fund Long Term Capital Management, When Genius Failed, is a terrific piece of reporting. People I know who were on the inside of the LTCM rescue negotiations give his account high marks. But he has increasingly fallen into the role of scrivener for powerful interests, when his previous standards of writing and his knowledge of the finance beat says he must, on some level, know what he is doing.

In Europe, Where Art Is Life, Ax Falls on Public Financing (jdargis)

“It is putting a pretty serious crimp in international exchanges, especially with smaller companies,” said Mark Russell, artistic director of Under the Radar. “It’s a very frustrating environment we’re in right now, tight in part because of our own crash, but more generally because it seems to me now that every time we get around to the international question, we have a meltdown and go back to zero.”

Syria Continues Drive to Retake Rebel Strongholds as Diplomacy Suffers a Setback (jdargis)

An activist in Turkey, who goes by the name Menhal and who recently fled Saraqeb, said people in the town reached by phone said it was bombarded by tank fire. “The situation is horrible,” he said by telephone. “I don’t know what more to say. They are looting stores and destroying them, burning houses, and there are many wounded people, and God, many wounded kids, many wounded kids.”

MF Global’s Corzine Ordered Funds Transferred, Memo Says (jdargis)

“On the afternoon of Friday, October 28, MF Global transferred $200 million from a segregated customer account at JPMC to cover a $175 million overdraft in one of MF Global’s JPMC accounts in London,” the memo says. “Ms. O’Brien wrote in an e-mail that the transfer was ‘Per JC’s [Jon Corzine’s] direct instructions’.”

Energy

Inter-Regional Trade Movements of Petroleum in North America (Crash_Watcher)

North America is a large importer of petroleum, but there are signs that its absolute imports peaked around 2005-2007, and imports are in decline. In 2000 and 2010 North America imported about 24% and 19% of the total global import/export supply pool, respectively; by 2021, this is predicted to be down to about 16%. Over the last decade, North America's chief suppliers of petroleum have changed in order of importance, from South America, the Middle East and Africa in 2000, to Africa South America and the Middle East in 2010. If the last decade's trends continue, then by 2021, North America's main suppliers will be Africa, the Former Soviet Union countries and South America, in that order.

While The U.S. Moves Toward Energy Independence... (sholland)

The nation’s reliance on foreign oil has fallen sharply since 2005, when imports made up 60 percent of the liquid fuel used. A surge of new domestic production and a decline in consumption has transformed the United States’ energy outlook.

Environment

Push Comes to Shove Over Water Restrictions (jdargis)

Tensions have been high in a groundwater conservation district where some farmers reliant on the Ogallala Aquifer are fighting to maintain their right to pump unrestricted amounts of water.

Both Coasts Watch Closely as San Francisco Faces Erosion (thatchmo)

The question facing at least eight local, state and federal agencies boils down to this: With California officials expecting climate change to raise sea levels here by 14 inches by 2050, should herculean efforts be made to preserve the beach, the pipe and the plant, or should the community simply bow to nature?

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."

8 Comments

RogerA's picture
RogerA
Status: Silver Member (Offline)
Joined: Jun 18 2009
Posts: 101
Syria

Do not know why I bother, I hardly read the news any more, mostly headlines, for obvious reasons perhaps.
Anyway here is another view of the story.
Possibly some propaganda in here too, but I find it "interesting".

''These crowds want to get a vocal message across to the whole world that the Syrian people will remain united as ever in combating terrorism,'' said Monzer Mohammad, a participant.

They expressed deep thanks to Russia and China who stood by the Syrian people, indicating that one year after the onset of the crisis, the Syrians' will remains unbreakable.

''The attempts of Western and Arab countries to alter Syria's position will come to naught…because the Syrian people will spare no sacrifice to defend their country,'' said one of the participants.

http://www.sana.sy/eng/21/2012/03/15/406315.htm

littlefeatfan's picture
littlefeatfan
Status: Silver Member (Offline)
Joined: Jul 20 2009
Posts: 141
3E links, cartoons, and resources

new postings this week at  http://3es.weebly.com/ 

RogerA's picture
RogerA
Status: Silver Member (Offline)
Joined: Jun 18 2009
Posts: 101
This could have some

This could have some effects.

Banking services withdrawn: Madrid escorts declare sex war.

Madrid’s high-class escorts have found a way to regulate the Spanish banking sector. The ladies want to have their say in the economy by withholding sexual pleasures from bank employees.

Damnthematrix's picture
Damnthematrix
Status: Diamond Member (Offline)
Joined: Aug 10 2008
Posts: 3998
Export Land Model

Quote:
North America is a large importer of petroleum, but there are signs that its absolute imports peaked around 2005-2007, and imports are in decline. In 2000 and 2010 North America imported about 24% and 19% of the total global import/export supply pool, respectively; by 2021, this is predicted to be down to about 16%.

I had to laugh.....  whoever wrote this never heard of the Export Land Model.  By 2021, it's highly likely NOBODY will be exporting, so the US' imports will be zero!

Estatesavr's picture
Estatesavr
Status: Bronze Member (Offline)
Joined: Feb 12 2009
Posts: 77
the difference between bankers & escorts

Escorts have morals

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 2635
Sunday quote of the day

“This is yet another problem that will deter investors and banks from buying Greek bonds,” said a senior CDS trader at one European bank. “If you can’t use CDS to hedge the risk of buying Greek bonds, then you may decide not to buy Greek bonds.”

crash_watcher's picture
crash_watcher
Status: Silver Member (Offline)
Joined: Aug 12 2008
Posts: 146
Export Land Model

Hi Damm,

Contrary to your assumption, I have indeed heard of the export land model, and, I have spent some time thinking about it (see e.g, http://crash-watcher.blogspot.com/2011/01/export-land-model-analysis-for-usa-part.html and subsequent parts; http://crash-watcher.blogspot.com/2011/04/estimating-end-of-global-petroleum.html and subsequent parts).  

What I am trying to do in the present study is to get a handle on what the relative flows of exports and imports will likely be as the total export pool diminishes going forward.  

You would have to read the article, and parts 1 and 2 get better understand on what I am trying to do.

By 2021, it's highly likely NOBODY will be exporting

 

Interesting, I wonder what support you have for this categorical statement?

Laugh on.

C_W

jumblies's picture
jumblies
Status: Silver Member (Offline)
Joined: Jun 13 2010
Posts: 244
Contest for Funniest New Jersey Joke Has a Winner

http://www.bloomberg.com/news/2012-03-22/contest-for-funniest-new-jersey-joke-has-a-winner.html

Did you hear the latest joke about New Jersey? A group of investigative journalists this week released a report calling it the least corruptible state in the country. How did that happen?

Easy. We bribed them.

All kidding aside, this is a state where in 2009 three mayors, two assemblymen and five rabbis were among 44 charged in a single money-laundering and bribery sting by the Federal Bureau of Investigation. One of those mayors, Peter Cammarano, was from Hoboken, where I live. He was sentenced to 24 months in prison. Five years before his arrest, another former Hoboken mayor, Anthony Russo, pleaded guilty to corruption charges. His son now sits on the city council.

That'll be the same New Jersey where John Corzine of MF Global fame was Governor.

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