Daily Digest 9/3 - Eurozone Crisis Explained, What The Economic Crisis Really Means
Bank Living Wills Are Bunk (Jaime)
The real tragedy is that everyone knows that bank living wills are useless, and yet, we are continuing to build on this fantasy. Our leaders are choosing to gloss over structural weaknesses in every possible way so that actual constructive reform can be avoided. What would it take to create a system worthy of our trust, instead of attempting to convince the world to entrust their money to a financial system riddled with fraud, opacity, and accounting tricks? It would take shrinking TBTF banks down to a size where they are not perceived to threaten the world's economy, investigating the fraud leading up to the financial crisis, introducing hyper-transparency to the industry, and infusing personal accountability for executives in publicly-traded financial sector corporations.
Eurozone Crisis Explained (westcoastjan)
Experts are agreed that there is a degree of guesswork over the ultimate outcome. Yet experience and existing regulations provide both concern and comfort for UK residents.
Greece: Living Under Pressure (westcoastjan)
"I think the new left-wing party Syriza will win the election and form a government. I would welcome such a change."
She said it leads to questions about how much of the art is truly Imperial — pieces made during one of China's dynasties — or just replicas people are trying to sell as originals.
What the Economic Crisis Really Means (Denny J.)
And What We Can Do About It
Workers’ cooperative defies crisis (A. Woll)
Sánchez Gordillo is a historic leader of the Farm Workers' Union (SOC), the backbone of the current SAT. He has been the mayor the little village, which numbers fewer than 3,000 people and is in the Seville region, since 1979. There, thanks to the participation and support of the local population, he launched a unique political and economic experiment which turned the village into a kind of socialist stronghold in the midst of the Andalusian countryside.
China’s oil imports for 2012 are set to reach 500 million tons, a 5 percent increase from 2011, during which, according to China’s National Bureau of Statistics, domestic production was 204 million tons of crude oil, up only 0.3 percent from 2010. Beijing-based Research Institute of Petroleum Exploration Development expert Ding Shubai lamented, "We imported 240 million tons of crude oil from foreign countries last year, equivalent to about 57 percent of our entire demand. This number is continuing to increase."
The study was driven by methane release concerns from global warming with the idea that methane could be released to the atmosphere if the ice sheets shrink and expose the old sedimentary basins.
Rooftop Farming In Hong Kong (westcoastjan)
Though they took a short break during the summer when Hong Kong's climate is too hot for many plants, in September HK Farm will be doubling the number of crops they grow from 10 to 20, from string beans and papaya to jalapeno peppers and okra. They’ll also be starting up their weekend open houses again. It's a real community effort, using soil from a local farm in their planters and taking waste from nearby restaurants to make fertilizer and future plans include collaborating with local cafes. Their work has been recognized internationally, too; HK Farm was asked to represent Hong Kong at the Venice Architecture Biennale this year.
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