Daily Digest

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Daily Digest 8/27 - Gold Standard Idea Seen As Full Of Bugs, Australia's Mining Boom Over?

Monday, August 27, 2012, 10:44 AM

Economy

Republicans tease with gold standard, but idea seen full of bugs (Sonya P.)

Gold has returned to the political discourse recently with the growing prominence of politicians like Ron Paul, the congressman from Texas who has said that he decided to enter politics on the day that President Richard Nixon shut the "gold window" in 1971, and with the Tea Party, which helped Utah pass a law last year to make gold legal tender.

Film highlights the temptations and perils of blind obedience to authority (Michael W.)

This authoritarian desire to pledge fealty to institutions and leaders is indeed the dynamic that resides at the core of so many of our political conflicts (the 2006 book by Canadian psychology professor Bob Altemeyer, The Authoritarians, is a superb examination of how this manifests in the right-wing political context).

Crackdown Toll Seen as Syrians Bury Hundreds (jdargis)

A video of what activists described as the fifth and latest mass grave to be filled showed two small children near the edge. Up close, in the field where there were more bodies than people to wash and prepare them for burial, the scent of decay swirled and gunshot wounds could be seen in the heads of many men.

U.S. Arms Sales Make Up Most of Global Market (jdargis)

A worldwide economic decline had suppressed arms sales over recent years. But increasing tensions with Iran drove a set of Persian Gulf nations — Saudi Arabia, the United Arab Emirates and Oman — to purchase American weapons at record levels.

Apple Case Muddies the Future of Innovations (jdargis)

The jury awarded Apple more than $1 billion in damages. A court hearing in the coming weeks could determine whether a judge moves to permanently block the sale of Samsung products that infringe on Apple patents. The verdict could give Apple even greater leverage in its efforts to discourage other handset companies, like Samsung, that make devices based on Google’s Android operating system.

The Underlying Causes of Oil Price Fluctuations (James S.)

One measure of aggregate money supply, M1—includes currency and demand deposits, increased by 4% since late June. In addition, petroleum prices increased (see above) and the price of gold is up by 2.7% over this period. If there was a direct relationship between the prices of gold and oil, commodity traders, entrepreneurs, and the Fed could benefit from knowing using this relationship to forecast the future spot price of oil. A recent article in the Washington Times outlines a direct relationship between these commodity prices and provides a simple calculation to forecast the price of oil with the price of gold.

Australia's Mining Boom Over? (James S.)

BHP is the world’s largest mining company, and its announcement earlier this week that it would not likely approve any spending on major projects this fiscal year due to a decline in metal prices is bad news for Australia, whose economy has soared with major investment projects in iron ore, coal and natural gas.

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."

9 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 2819
saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 2819
Crime-ridden Camden, NJ, to disband city police department

Crime-ridden Camden, NJ, to disband city police department

Time2help's picture
Time2help
Status: Platinum Member (Offline)
Joined: Jun 9 2011
Posts: 597
Wendy S. Delmater's picture
Wendy S. Delmater
Status: Diamond Member (Offline)
Joined: Dec 13 2009
Posts: 1608
Camden NJ, not a surprise

The head of the city's Fraternal Order of Police...called the action an obvious form of union-busting... But despite the union's protests, the plan has the backing of New Jersey Governor Chris Christie. "I'm willing to put my name on the line for this concept," he reassured at a recent bill signing at New Jersey's Rutgers University.

Unions and their wonderful benefits were more affordable during the good times of cheap energy. Horrible for the familes of the dedicated, hard-working, put their lives-on-the-line yet laid-off officers. But more of this is going to happen, no matter how unfair. There is just no money to run so many city governments. They are going to have a non-union Metro Police in Camden, and half the size of the existing force. God help them, as this is a high crime area.

John Lemieux's picture
John Lemieux
Status: Silver Member (Offline)
Joined: Mar 2 2012
Posts: 224
Sounds like it's time for Robo Cop

I'd buy that for a dollar!

Paul Vernhoeven certainly saw this coming. And he was trying to tell us 25 years ago.

thc0655's picture
thc0655
Status: Platinum Member (Offline)
Joined: Apr 27 2010
Posts: 663
Deleveraging and austerity in Camden, NJ

So this is what deleveraging and austerity looks like (in part) in Camden, NJ.  This is also what is meant when CM says, "The next twenty years are not going to be like the last 20 years."  Coming to a city and county near you.

ftealjr's picture
ftealjr
Status: Bronze Member (Offline)
Joined: Aug 18 2009
Posts: 31
Obedience to Authority

This was a very interesting article and gave me a number of insights into the reasons we often accept what we are told without challenge.  I recommend it highly.

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 2543
Confirmational Bias.

Bloomberg says buy gold.

John Lemieux's picture
John Lemieux
Status: Silver Member (Offline)
Joined: Mar 2 2012
Posts: 224
Chris Hedges with Bill Moyers on Camden NJ

Chris Hedges spent time in Camden researching his new book  Days of Destruction Days of Revolt.

Check out the great video and interview with Bill Moyers   

Search- Gia Health Website-  Chris Hedges the Corporate State of America 

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