Daily Digest

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Daily Digest 9/14 - Wealthy Get Mortgage Help, Where The Bailouts Stand

Friday, September 14, 2012, 11:15 AM

Economy

Recession 2013 Looks More Likely After Weak Jobs Report (David B.)

The U.S. is still the number one manufacturer in the world, but there are now as many people working in this industry in the United States as there were at end of the Depression, even though the population is twice as large. As one article noted about the entrenched unemployed in the United States, there are not the “wide-open job opportunities” of the factories and other institutions of the past.

Special Report: Well-to-do get mortgage help from Uncle Sam (westcoastjan)

Julie Wyss earns $330,000 a year selling real estate in Silicon Valley. When the time came to look for a new home for herself, Wyss settled on a four-bedroom, three-bathroom house in Los Gatos, California, an enclave of young technology entrepreneurs. It has about 2,400 square feet of floor space, four sets of French doors and a price tag of $1.45 million. When she bought the house in June, her main financing was a $625,500 mortgage from Wells Fargo guaranteed by government-backed Fannie Mae.

Vandwelling: How to Live in a Van, Down by the River or Otherwise (Nick J.)

Bob Wells is one of the vandwelling subculture’s most prominent devotees. He has two sites: cheaprvliving.com and a newer site, cheapgreenrvliving.com. He also just released an ebook, “How to Live in a Car, Van or RV–And Get Out of Debt, Travel and Find True Freedom.” The book provides a wealth of information on the logistics and philosophy of vandwelling and can be purchased for $3 on Amazon.

Where The Bailouts Stand, In 1 Graphic (jdargis)

It's been four years since the U.S. launched a massive bailout of the financial system and the auto industry. While much of the bailout money has been paid back, the government still owns large shares in companies such as AIG and GM, and has yet to recoup some $200 billion in bailouts.

Here's a breakdown by industry.

Gold and Silver Miners Breakout As Open Ended QE3 Announced (Taki T.)

A few weeks ago, Senator Schumer from New York makes no bones at being quoted, “Get to work…Mr. Chairman!”. This is especially pertinent as Schumer states that because of the Congressional impasse the Fed is the “only game in town”. It must be noted that the spinmeisters know that when the general equity markets rally to new highs, then the probability favors the incumbents who usually win by a landslide. The S&P500 and Dow Jones is breaking into new two year highs which may make the voters feel that the economic storm has passed and good times are here again. These accommodative moves will be quite painful to savers who have been sitting on a record level of cash and U.S. debt and have been shaken out of their gold (UGL) and silver (AGQ) holdings which are exploding to the upside.

Germany Has Extracted Stealth Victory Over ECB (pinecarr)

Any investor trying to understand the political, economic and financial machinations of the euro zone and the European Union would be well advised to focus on German actions, often hidden under pronouncements by the ECB. Most often the positions and actions that really matter are overlooked completely in the mainline media.

Energy

Libya: Doomed From Day One (James S.)

Anyone who thinks that Libya will be a secure oil frontier after the formation of a new government next summer is mistaken. The road to destruction runs from Afghanistan to Benghazi (incidentally, the oil-producing region), branching off to southern Iraq and Pakistan’s tribal regions.

Environment


U.S. fishery disaster adds to drought woes
(westcoastjan)

At least “moderate” levels of drought have now enveloped more than 64 per cent of the contiguous United States, up from 63.39 per cent the week before, according to the Drought Monitor, a weekly compilation of data gathered by federal and academic scientists.

In San Francisco, a secret project bears fruit (Amanda)

"I tried to advocate for planting productive trees, making my neighborhood useful, so people could have free access to at least fruit," she said. "I just wasn't getting anywhere."

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."

5 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
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littlefeatfan's picture
littlefeatfan
Status: Silver Member (Offline)
Joined: Jul 20 2009
Posts: 141
More 3E related Links, Resources and Cartoons

http://3es.weebly.com/  Money Go Round Edition

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 2468
Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 2076
Anyone Man Enough?

Leah MCGrath tried to report on mass child abuse on Jersey Island. Over 200 orphans were .  .  No, let us not go there.  .  .  and then buried. She had her visa revoked by powerful interests.

Are you man enough to sign her petition?

anexaminedlife's picture
anexaminedlife
Status: Bronze Member (Offline)
Joined: Jan 19 2012
Posts: 48
Vandwelling

Nice to see that article about vandwelling. I have been exploring this idea for about a year now (it's Plan B; Plan A being moving to Costa Rica). In fact, I know Bob Wells, having met him this summer at a "rendezvous" in N. Central California. The community of people living full-time in their vans/RVs and other mobile living quarters is amazing. Many do it because they want to simplify their life (a great example being this guy who has a wonderful blog at http://www.tosimplify.net/), some do it because they feel financially they must, and many are doing it for the freedom and adventure. Since I have learned about this sub-culture, I have come to understand it as a great alternative to the conventional life. There are many (!) pre-retirement people, even families, living in their RVs and traveling just about wherever they want. It's a pretty awesome lifestyle if you are looking for under-the-radar freedom. (Many of these units can live off-grid for long stretches as they are equipped with solar, even with wind power and other off-grid technology.) My only concern about this lifestyle is 1) the ever-increasing cost of fuel/peak oil impact (offset however by the lower cost of living ) and how sustainable this lifestyle would be in a collapse scenario.

For those open to alternative styles of living, this is a fascinating opportunity. If you find yourself interested, a Google search will result in many blogs (these folks tend to write blogs about their lifestyle 'cause they love it so much) you can read. Most blogs are very well written and engaging and offer a window into a world you probably never even thought about. 

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