Daily Digest

Image by Iqoncept, Dreamstime Images

Daily Digest 11/26 - Disaster Economics, UK to Shift Focus from Renewable Energy to Natural Gas

Monday, November 26, 2012, 2:52 PM

Economy

What not to buy with your RRSP (westcoastjan)

“To me it tells me there is something wrong with the financial planning that is being done by this segment of Canadians,” said Bev Moir, a senior wealth advisor at ScotiaMcLeod Wealth Advisors.

Poor management, not union intransigence, killed Hostess (Thomas C.)

Hostess management's efforts to blame union intransigence for the company's collapse persisted right through to the Thanksgiving eve press release announcing Hostess' liquidation, when it cited a nationwide strike by bakery workers that "crippled its operations."

That overlooks the years of union givebacks and management bad faith. Example: Just before declaring bankruptcy for the second time in eight years Jan. 11, Hostess trebled the compensation of then-Chief Executive Brian Driscoll and raised other executives' pay up to twofold. At the same time, the company was demanding lower wages from workers and stiffing employee pension funds of $8 million a month in payment obligations.

Kyle Bass Interview (LogansRun)

Kyle Bass has a conversation with Darden professor Ken Eades at the Darden School of Business University Investing Confernece 2012.

EU and Asian sources allege the tungsten-switch has gone sovereign (James Knight Chaucer)

For those who don’t already know this, tungsten has very nearly the same density as refined gold. Gold sells today at around $1740 an ounce, and Tungsten at $10 a pound. With a bit of judicious disguise, putting tungsten inside a gold bar can even fool an X-ray machine under certain circumstances. A Slog source in Austria is now alleging that Deutsche Bank ‘fulfilled’ one gold repatriation in recent years with the help of Tungsten. He further claims that some of this has now turned up in Asia.

Disaster Economics (jdargis)

Politically speaking, it’s always easier to shell out money for a disaster that has already happened, with clearly identifiable victims, than to invest money in protecting against something that may or may not happen in the future. Healy and Malhotra found that voters reward politicians for spending money on post-disaster cleanup, but not for investing in disaster prevention, and it’s only natural that politicians respond to this incentive. The federal system complicates matters, too: local governments want decision-making authority, but major disaster-prevention projects are bound to require federal money. And much crucial infrastructure in the U.S. is owned by the private sector, not the government, which makes it harder to do something like bury power lines.

Divisive Election in Spain’s Catalonia Gives Win to Separatist Parties (jdargis)

Indeed, despite the enthusiasm that the separatist drive has generated in Catalonia, a region in northeastern Spain with an outsize weight both economically and culturally, Sunday’s vote also underlined divisions among the region’s 7.5 million citizens. In particular, there are questions over whether sovereignty demands should be limited to seeking fiscal concessions from Madrid or stretch far beyond that.

Despite Ruin, Library Offers Books and Community (jdargis)

Monika Luchowska, 14, has stopped by the mobile library nearly every day too, hoping to find a favorite author among the pile of donated books on the shelves. She mourned the loss of the Harry Potter series, as well as of two other beloved books — one on gardening, one on quilting, both full of colorful pictures she used as inspiration for her computer-generated art.

UK to Shift Focus from Renewable Energy to Natural Gas (James S.)

The alternative, which will now only play a small part in our energy future as most of the money is going into the dash for gas, is for a diverse range of energy investments, into natural gas, renewable energy, and nuclear power. By choosing a dash for gas path we have started to closethe door on the wind energy sector, which could have provided relatively cheap, clean energy.

The lack of backing for renewable energy means that the UK’s green sector, despite being one of the few to actually be constantly growing during the economic troubles, will also start to fall into decline as private investors and jobs move abroad.

Rooftop farms seek to feed Canadian cities’ growing demand for local food (westcoastjan)

In downtown Vancouver, Alterrus has built a greenhouse on top of a parking garage, where it grows herbs and salad greens in water using its VertiCrop system — a series of stacked trays that move on a conveyor belt. Similar farms are spreading in cities throughout the United States, especially in Brooklyn, N.Y., where at least three commercial rooftop farms are operating, with more planned.

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."

6 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 2773
Time2help's picture
Time2help
Status: Platinum Member (Offline)
Joined: Jun 9 2011
Posts: 553
Krugman says....keep the deficits going

Cool.  More free paper.

Fighting Fiscal Phantoms

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 2773
National debt passes $16.3 trillion

16,307,488,943,564.23 (Click the debt number to go to Treasury Direct)

============================================================

The Daily History of the Debt Results

Historical returns from 11/16/2012 through 11/23/2012

The data for the total public debt outstanding is published each business day. If there is no debt value for the date(s) you requested, the value for the preceding business day will be displayed.

( Debt Held by the Public vs. Intragovernmental Holdings )

 

Date Debt Held by the Public Intragovernmental Holdings Total Public Debt Outstanding
11/16/2012 11,451,587,527,712.47 4,829,742,388,887.16 16,281,329,916,599.63
11/19/2012 11,451,717,055,433.81 4,834,393,373,365.27 16,286,110,428,799.08
11/20/2012 11,452,926,620,014.80 4,839,762,861,335.04 16,292,689,481,349.84
11/21/2012 11,453,560,734,889.31 4,829,601,160,290.54 16,283,161,895,179.85
11/23/2012 11,474,590,079,642.49 4,832,898,863,921.74 16,307,488,943,564.23

Doug's picture
Doug
Status: Diamond Member (Online)
Joined: Oct 1 2008
Posts: 2763
Time2Help wrote:Cool.  More

Time2Help wrote:

Cool.  More free paper.

Fighting Fiscal Phantoms

So, it's Krugman's assessment that we should solve a debt crisis by creating more debt?  And, that isn't just kicking the can down the road again, and again, and again...until what?  The economy magically revives?

I guess those Yale and MIT educated Nobel prize winners' magical thinking is on a loftier plane than mine.

Doug

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 2502
Petroleum found.

Vast Petroleum reserves found.

In the Horsehead nebula.

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 2773

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Login or Register to post comments