Daily Digest

Daily Digest 5/3 - Paul Vs. Paul, Delta To Buy Oil Refinery, How Chemicals Affect Us

Thursday, May 3, 2012, 10:48 AM
  • "Paul vs Paul" Ron Paul Debates Paul Krugman
  • Class Warfare Is Being Used To Divide America; And It Is Working
  • Is Constant Economic Growth Possible?
  • Monetary Policy, The Real Economy, And Asset Prices: Where Are We?
  • Delta To Buy Oil Refinery
  • Energy Transfer to Buy Sunoco for $5.3 Billion
  • How Chemicals Affect Us

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Economy

"Paul vs Paul" Ron Paul Debates Paul Krugman (Kelvinator)

Nobel-prize winning economist Paul Krugman and Republican presidential candidate Ron Paul talk about inflation, monetary policy and the role of the Federal Reserve.

Class Warfare Is Being Used To Divide America; And It Is Working (David B.)

Our country is drowning in debt, millions of our jobs are being shipped overseas, the middle class is shrinking at an astounding pace, and the Federal Reserve continues to destroy our financial system.

Getting angry at the wealthy or the poor is not going to fix those problems.

Is Constant Economic Growth Possible? (James S.)

Let’s think about this a little further. We live on an earth with a fixed surface area. If the population of the earth keeps growing, at some point people would fill up every square foot (or square meter) of land space. Clearly that can’t happen. Also, the resources we pull from the ground aren’t unlimited–at some point the amount we pull from the ground starts to deplete. We know that at some point, perhaps far in the future, economic growth must stop.

The question is really where we are now, relative to the hard limits that we know must exist. Let’s think about the situation.

Monetary Policy, The Real Economy, And Asset Prices: Where Are We? (David B.)

Eventually, there may come a time when the profits of the other 35 businesses shrink, or are no longer enough to obtain credit to carry the unprofitable business units; this is when the firm will collapse. In a real sense, this is exactly the point that has been reached in Greece, and now fast approaches for Spain and Portugal: in all these countries, the productive classes are no longer big or numerous enough to carry or support the unproductive. Current fiscal imbalances guarantee that Greece-like collapse and insolvency will happen during the 21st century in the United States, too, if the bond market does not implode first, bring down the economy with it.

Delta To Buy Oil Refinery (logansrun)

ConocoPhillips shuttered the Trainer refinery in the fall. Refineries throughout the Northeast have been suffering because they are old and cannot process the cheaper, heavier types of oil that are increasingly in supply from Canada's oil sands, Saudi Arabia, Venezuela and elsewhere.

Energy Transfer to Buy Sunoco for $5.3 Billion (jdargis)

Earlier this month, Penn Virginia Resource Partners agreed to buy the energy pipeline company Chief Gathering for $1 billion to increase its foothold in the booming shale natural gas sector. In February, the private equity firm Blackstone Group announced a $2 billion investment in Cheniere Energy Partners to help build a facility in Louisiana where natural gas will be compressed, chilled and shipped to Europe, Asia and other foreign markets.

How Chemicals Affect Us (VeganD)

Last month, the Endocrine Society, the leading association of hormone experts, scolded the Food and Drug Administration for its failure to ban bisphenol-A, a common endocrine disruptor known as BPA, from food packaging. Last year, eight medical organizations representing genetics, gynecology, urology and other fields made a joint call in Science magazine for tighter regulation of endocrine disruptors.

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."

6 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 2710
gegreene's picture
gegreene
Status: Member (Offline)
Joined: Nov 2 2010
Posts: 9
RE: Class Warfare Is Being Used To Divide America; And It Is Wor

The fact remains that there needs to be a strong middle class.  Regardless of the rhetoric, without a strong middle class, a democracy will vote to redistribute wealth, or worse.

The wealthy had better use their resources to bring jobs to the middle class or they will lose it.

That's the way I see it.  

Comments anyone?

Damnthematrix's picture
Damnthematrix
Status: Diamond Member (Offline)
Joined: Aug 10 2008
Posts: 3998
Scrappers get 10-tonne bridge for a steel
 
 

Thieves in the Czech Republic have made away with a 10-tonne steel pedestrian bridge in the latest case of scrap metal heists plaguing the country.

http://www.abc.net.au/news/2012-05-04/thieves-take-10-tonne-czech-bridge-in-metal-heist/3990384

"The police know the identity of the thieves. An investigation is underway," local police spokeswoman Katerina Bohmova said.

Using a crane, the crafty group of thieves dismantled the bridge and about 200 metres of railway track.

The thieves even managed to dupe police officers during a routine check as they were dismantling the bridge, showing officers forged documents saying they were working on a new bicycle path.

The stolen metal is valued at around 4,800 euros ($6,150), according to railway company SZDC.

The pedestrian bridge was part of derelict local railway line infrastructure linking the western Czech villages of Loket and Horni Slavkov.

Such crime has become common in the Czech Republic, an EU member since 2004.

Enticing sums paid by scrap dealers are attracting a growing army of metal thieves, usually from disadvantaged backgrounds.

Arthur Robey's picture
Arthur Robey
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Joined: Feb 4 2010
Posts: 2457
Paul Krugman to the Rescue.

I truncated my viewing of Ron Paul versus Krugman. I began to feel billious. There is only so much excrement a poor boy can consume before throwing up.

The post-war economic growth solely due to the omnescient Economists indeed! Try cheap energy, Krugman.

jonesb.mta's picture
jonesb.mta
Status: Silver Member (Offline)
Joined: Jun 11 2008
Posts: 103
Krugman

Krugman does tend to spew excrement. I guess spewing excrement is a prerequisit to a Nobel prize in economics or peace.

KennethPollinger's picture
KennethPollinger
Status: Silver Member (Offline)
Joined: Sep 22 2010
Posts: 178
Martenson versus Krugman

Chris.  Invite Krugman for a guest appearance.  Would be fascinating.

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