Daily Digest

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Daily Digest 12/1 - Milking The Budget, Greeks Rage Against Pension Calamity

Friday, November 30, 2012, 10:28 PM

Economy

Europe Is Divided Again -- This Time It's Creditors vs. Debtors (westcoastjan)

Now, some recent developments give grounds for hope. The authorities are taking steps to correct their mistakes. I have in mind the June summit's decision to form a banking union, and the EU Central Bank's plan for unlimited intervention in government bond markets. Financial markets have been reassured that the euro is here to stay. This could be a turning point if it were reinforced by additional positive steps. Unfortunately, it has merely reinforced German resistance to further concessions.

Greeks Rage Against Pension Calamity (westcoastjan)

Workers and pensioners suffered losses of about 10 billion euros ($13 billion) just in the debt restructuring of March 2012, when the value of some Greek bonds was cut in half. That sum is equal to 4.6% of the country’s GDP in 2011.

Milking The Budget (westcoastjan)

The EU still spends some 40% of its budget on agriculture, an industry that generates less than 2% of GDP and employs less than 5% of the workforce. No other group of workers gets such coddling. Steel, coal and shipyard workers lost their jobs en masse when uncompetitive industries slimmed down; car workers are now following suit. Yet rural peasants must be preserved.

City Attorney Tells San Bernardino Residents To ‘Lock Their Doors,’ ‘Load Their Guns’ Because Of Police Downsizing (westcoastjan)

“Let’s be honest, we don’t have enough police officers. We have too many criminals living in this city. We have had 45 murders this year…that’s far too high for a city of this size,” Penman said.

The city attorney said it’s important for people to be smart about protecting themselves and their families.

Environmentally Friendly Christmas Present Ideas (westcoastjan)

For those more sporty family members how about an electric bike? Quick, easy and emission free these bikes make getting to work on time stress free. The bike has an electrical motor which builds up charge on the downhill slopes in order to helps you up the difficult hills you may later face – genius.

Study reveals extent of Mekong dam food security threat (westcoastjan)

Orr presented the study at the Third Mekong Forum on Water, Food and Energy, convened by the Consultative Group on International Agricultural Research's (CGIAR) Challenge Program on Water and Food (CPWF), in Hanoi, Vietnam, this month.

Orr says that if all 88 planned dams were developed, Mekong communities would be faced with sourcing close to 40 per cent of lost fish protein from other sources.

Smaller, fewer, thinner - the future for American beef? (westcoastjan)

The drought has also affected the yields of grain crops, which are estimated to be down around 13 % on last year. And because US farmers depend on grain to fatten their beef herds, this has increased pressure to get rid of cattle.

Does climate change affect home value? (Sally O.)

Regional climate changes in the U.S. are impacting – and will continue to impact – your homeowner insurance premiums.

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."

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