Daily Digest 5/25 - Bear In A China Shop, Gas Prices Lower Slightly, One Year Since Joplin Tornado
- Eurobonds: The Issue That Could Shatter Europe
- Lunch with Paul Krugman
- Counting Under Way In Egypt Presidential Poll
- Bear In A China Shop
- Gas Prices Modestly Lower as Driving Season Starts
- New Directions for North American Energy Infrastructure
- Mother Of God, Child Of Zeus
- One Year Since The Joplin Tornado
If you had some relatives that were spending wildly and that had already run up $100,000 in credit card debt, would you be a co-signer on their next credit card application?
Lunch with Paul Krugman (James S.)
Paul went for the lobster salad with hearts of palm and the soft shell crab with bacon. I settled for the Dungeness crab salad with quinoa and quail stuffed with foie gras. We washed it down with an excellent 2008 Duckhorn cabernet called "The Discussion". I kidded him about recent articles in the press that described him as the "Mick Jagger of economics".
Turnout appeared to vary across the country on Thursday, with long queues outside some polling stations, and scant participation in others.
Mohammed Ibrahim, Egypt's interior minister, said security forces had reported only "minor violations".
Bear In A China Shop (jdargis)
No question, China has many problems. Years of one-sided investment-driven growth have created obvious excesses and overcapacity. A weaker global economy since the 2008 financial crisis and rapidly rising labor cost at home have slowed China's vaunted export machine. Meanwhile, a massive housing bubble is slowly deflating, and the latest economic data is discouraging. Real growth in GDP slowed to an annualized rate of less than 7 percent in the first quarter of 2012, and April saw a sharp slowdown in industrial output, electricity production, bank lending, and property transactions. Is China's legendary economy in serious trouble?
“Drivers are getting a respite,” said Rodney L. Waller, a senior vice president at Range Resources, an oil and gas company based in Fort Worth. “But it’s a tenuous respite based on all the changes in the global oil market and the opening and closings of refineries across the U.S.”
Voser is correct in his assumption that more and more transportation options will rely on NatGas as we move forward. The largest annual trucking show in North America, the Mid-America Trucking Show, was held in Louisville Kentucky in March and featured a panel discussion on NatGas in trucking featuring famed petroleum investor T. Boone Pickens. The Conference Board of Canada reported in an April research paper that making the switch to NatGas from diesel would be a fixed cost of roughly $80,000 CDN per vehicle, but would save about $15,000 CDN per year over a 10-year period. Although North American NatGas refuelling infrastructure is not as mature as it needs to be to trigger a large-scale shift, change is coming.
Mother Of God, Child Of Zeus (jdargis)
In the earliest days of history, the eternal shine of gold marked it as a link to the gods, and its possession by a human seemed proof of that human’s blessedness. But since the time of the first coins 2,500 years ago, the security it offered evolved from the spiritual to the earthly, from assuring a wealthy hereafter to assuring a wealthy here and now. Economic instability isn’t the only thing driving up the price of gold in the twenty-first century. Its unparalleled resistance to corrosion and tarnish makes it a useful conductor of low-voltage electricity and a component of nearly every consumer and industrial electrical device.
One Year Since The Joplin Tornado (jdargis)
One year ago, the small town of Joplin, Missouri, was devastated by an EF5 Tornado. A mile-wide multiple-vortex tornado, with estimated winds peaking at 362 to 402 km/h (225 to 250 mph), tore through the area on May 22, destroying more than 7,000 houses, killing 161 people, and injuring hundreds more. The task of rebuilding is underway, but the scale is daunting -- a year later, Joplin still has an eight-mile scar running through its middle. Gathered here are images of the town on this somber anniversary.
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