Daily Digest 6/2 - Land Of The Rising Silence, Home Ownership Declines in Philly, Fukushima Water May Overflow
- With Deals Turning Scarce, Car Buyers May Want To Wait
- Land Of The Rising Silence
- Outlaw Josey Wales - Part 4
- Home Ownership Declines In Philadelphia
- Wild Which-Way Wednesday
- Greece, Please Do The Right Thing: Default Now
- Fukushima Radiated Water May Overflow
- Japanese Elderly Offer to Take Over Fukushima Nuclear Cleanup
With the effects of the earthquake in Japan rippling through the industry and causing shortages, prices are rising for both new and used cars, and fewer models and options will be available come summer, especially for the hybrids and fuel-efficient vehicles that Japan produces.
That's prompted many experts to voice something rarely said in the sales-happy auto industry: With consumers facing the toughest market in recent memory, if you can, put off purchases until things sort out, probably early next year.
The Japanese are great at setting, communicating and achieving goals like that 15-percent cut [of electricity use this summer]. In contrast, we tend not to discuss, or make plans, or even face up to issues — like the nuclear mess in Fukushima — that require solutions more complicated than the March of Dimes.
Outlaw Josey Wales - Part 4 (JimQ)
Ultimately, GDP fell 3.1% between the 3rd quarter of 2008 and the 3rd quarter of 2009. The government response has amounted to throwing $7 trillion ($4.2 trillion increase in national debt, $700 billion of TARP bailouts, $200 billion of losses taken by Fannie Mae & Freddie Mac, $100 billion of losses taken by the FDIC, and the Federal Reserve increasing their balance sheet by $1.8 trillion) of your tax dollars at the problem. As a side benefit, they have thrown senior citizens under the bus by paying them 0% on their savings, not providing a cost of living increase to their social security for two years, and hitting them over the head with 10% levels of inflation on food and energy.
Home Ownership Declines In Philadelphia (June C.)
Since 1997, almost 13,000 units - primarily condos and apartments - have been built or rehabilitated downtown and in adjacent neighborhoods, the Center City District reports.
And since 2000, the district's numbers show, the population of Philadelphia's expanding core has climbed to 93,000, from 78,900.
Wild Which-Way Wednesday (Ilene)
The good news from all this is just a repetition of the previous theme: “bad news is good, and good news is better”. This has dominated bullish thinking as they believe interest rates will remain low offering little competition for stocks. Naturally, another round of $7 billion in POMO Tuesday just threw gas on the fire." (chart by Dave Fry)
The big banks' loans to Greece were predatory by design.
Fukushima Radiated Water May Overflow (pinecarr)
Tokyo Electric Power Co. has been manually pumping water into overheating reactors after cooling systems broke down and much of that has overflowed into basements and trenches. The water is rising at a rate that means it will overflow as early as June 6, Bloomberg calculations from the company’s data show.
"I am 72 and on average I probably have 13 to 15 years left to live," he says. "Even if I were exposed to radiation, cancer could take 20 or 30 years or longer to develop. Therefore us older ones have less chance of getting cancer."
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