Daily Digest 4/23 - No End In Sight For Unemployment, Epic Fail Part One, Egypt Ends Gas Deal With Israel

• Chris Speaks At The Commonwealth Club Of California
• InvestingSense On WBIC
• No End In Sight
• Epic Fail: Part One
• Dutch Prime Minister, Cabinet Resign
• Shift on Executive Power Lets Obama Bypass Rivals
• UK Govt. Seismic Fracking Report Certain to Sharpen Debate
• Egypt Terminates Gas Deal With Israel

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Economy

Chris Speaks At The Commonwealth Club Of California (adam)

The combination of financial market volatility and depleting resources (notable peak oil) present a challenging outlook for investors. Building wealth is even more daunting when considering how uncertain government figures about the economy can be. If the great disruption is near or here, what are some tips for building a resilient family and community? Join us for a conversation with a noted futurist about charting a course to prosperity through the coming turbulence ahead.

InvestingSense On WBIC (adam)

Denny will be speaking with Arnie tonight, starting at 7:00pm. The terrestrial station is 93.1 FM WIBC, and people can listen online.

Arnie has a great deal of new information that he will be sharing and we will be sending out some information in real-time on the Twitter feed @InvestingSense.

No End In Sight (jdargis)

Being unemployed is even more disastrous for individuals than you’d expect. Aside from the obvious harm—poverty, difficulty paying off debts—it seems to directly affect people’s health, particularly that of older workers. A study by the economists Till von Wachter and Daniel Sullivan found that among experienced male workers who lost their jobs during the 1981-82 recession mortality rates soared in the year after the layoffs. And the effects of unemployment linger. Many studies have shown that the lifetime earnings of workers who become unemployed during a recession are permanently reduced, and von Wachter and Sullivan found that mortality rates among laid-off workers were much higher than average even twenty years afterward.

Epic Fail: Part One (JimQ)

The rhetoric from the Obama administration about a jobs recovery is laughable. Full time employment peaked in July 2007 at 122.4 million. Today there are 113.9 million people classified as full-time, with only 101.3 million working more than 35 hours. There are 8.5 million fewer people with full time jobs today than there were in 2007. That fact is even more disheartening considering the working age population has grown by 10.5 million over the same time span. Taking an even longer term view provides the perspective needed to assess our true economic state. Total nonfarm employment hasn’t grown in twelve years, while the working age population has grown by 30 million people.

Dutch Prime Minister, Cabinet Resign (jdargis)

The Dutch government information service says that Prime Minister Mark Rutte and his Cabinet have resigned after failing to reach agreement on reducing the country's budget to meet European guidelines.

The information service said Monday that Rutte had met with Queen Beatrix and she had accepted his resignation, asking him to tend to pressing matters of state with a caretaker government for the time being.

Shift on Executive Power Lets Obama Bypass Rivals (jdargis)

Aides say many more such moves are coming. Not just a short-term shift in governing style and a re-election strategy, Mr. Obama’s increasingly assertive use of executive action could foreshadow pitched battles over the separation of powers in his second term, should he win and Republicans consolidate their power in Congress.

Energy

UK Govt. Seismic Fracking Report Certain to Sharpen Debate (James S.)

While initial environmental protests of the technique centered around its possibility of polluting underground water aquifers as a number of known carcinogenic substances are used in the procedure, more recently research has focused on an even more ominous byproduct of the technique – the increased possibility of earthquakes. While in the U.S. the U.S. Geological Survey and the state governments are investigating the link, in Britain the Department of Energy and Climate Change on 17 April published an independent expert report recommending measures to mitigate the risks of seismic tremors from hydraulic fracturing and invited public comment on its recommendations.

Egypt Terminates Gas Deal With Israel (jdargis)

The 2005 natural gas deal has become a symbol of tensions between Israel and Egypt since the uprising. For many Egyptians, it typifies the close relations the regime of deposed President Hosni Mubarak forged with Israel and how his associates benefited greatly from such business deals.

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