Daily Digest 7/27 - The Future Of Money, Where Are Oil Prices Headed?

Economy

The Venetian Method (Arthur Robey)

Jane Gleeson-White discusses the history and future of accountancy and explains how, over 500 years ago, double entry or the Venetian method of accounting was adopted and why it was pivotal in the development of commerce and capitalism. In the 21st century does accounting need updating? Should social and environmental costs be included in the balance sheet?

Is Global Trade About To Collapse? Where are Oil Prices Headed? A Chat with Mish (James S.)

As markets continue to yo-yo and commentators deliver mixed forecasts, investors are faced with some tough decisions and have a number of important questions that need answering. On a daily basis we are asked what’s happening with oil prices alongside questions on China’s slowdown, which commodities or instruments will provide safety in the current environment, will the Euro-zone split in the future and what impact the presidential election is going to have on the economy and markets

Zynga Insiders Who Cashed Out Before The Stock Crashed (Thomas C.)

Zynga, the company, also paid $1 million in expenses to facilitate the cash-out (legal fees, private jet rental, etc.)

And, thanks to the offering, the Zynga insiders took $516 million off the table just before the stock crashed.

The Future Of Money (NZSailor)

Michael Green is an independent economist and writer, who previously co-authored Philanthrocapitalism: How Giving Can Save The World with Matthew Bishop. He is currently working on a report for the US Committee of Concerned Journalists on how the media needs to change in response to the financial crisis. Previously he was a senior official at the Department for International Development, and taught economics at Warsaw University in Poland.

Surprising Links: How Big Banks Manipulate and Influence Your Health (Stan Guss)

To me, this link between banking and Big Pharma intuitively makes sense. It was just earlier this year that I came to appreciate what Brown is talking about here. While the focus of this web site is on the damage done by the drug companies, it’s becoming increasingly clear to me that the banking system is the behemoth backing the Goliath-like drug industry.

Our Pension Fund Scheme is Unsustainable (Arthur Robey)

As a result of low return investments on the fixed income (make that failed income) side of portfolios, plan managers have nowhere to go but further and further out on the risk spectrum (read equity markets, private equity, and hedge funds).

Will (a lack of) Water Threaten U.S. Energy Production? (adam)

“Our energy system depends on water. About half of the nation’s water withdrawals every day are just for cooling power plants. In addition, the oil and gas industries use tens of millions of gallons a day, injecting water into aging oil fields to improve production, and to free natural gas in shale formations through hydraulic fracturing… All told, we withdraw more water for the energy sector than for agriculture. Unfortunately, this relationship means that water problems become energy problems that are serious enough to warrant high-level attention.”

Energy Trade: The Hidden Cost Of Peak Oil (David B.)

As the video below explains, understanding the hidden costs of peak oil will be crucial not only to your energy investing strategy but also to our entire way of life. It’s literally a crisis in the making.

Fukushima - Local Children Unwitting (And Unwilling) Radioactive Guinea Pigs (Thomas C.)

The 1945 U.S. Hiroshima and Nagasaki bombings were weapon “air bursts,” raising no nuclear debris from the ground. Furthermore, the Japanese medical establishment had no experience with the problem and when U.S. military forces arrived over a month later, information about the human cost of the bombings was censored for decades. Showing pictures of destroyed buildings, okay – showing victims with kimono patterns seared into their skin, no.

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