Daily Digest 12/25 - Diesel Gets A Second Chance In Japan, Battered Breezy Point Reflects On Trial By Fire
The BCG study by Daniel Stelter which is doing the rounds of corporate C-suites does not pull its punches. In fact, its punches are really just a softening-up exercise for a barrage of kicks and painful blows aimed at anyone who thinks that kicking the can down the road is a suitable substitute for radical action.
The F.B.I. records show that as early as September 2011, an agent from a counterterrorism task force in New York notified officials of two landmarks in Lower Manhattan — Federal Hall and the Museum of American Finance — “that their building was identified as a point of interest for the Occupy Wall Street."
For the time being, the silver price is essentially set in the paper market where the daily average trade on the Comex is approximately 300 million ounces. An outrageous number when you compare it to the daily mine production of about 2 million ounces. As Bart Chilton, Commissioner of the Commodity Futures Trading Commission stated on October 26, 2010, “I believe there have been repeated attempts to influence prices in silver markets. There have been fraudulent efforts to persuade and deviously control that price.
Internal migration has been a powerful force for improving quality of life in the U.S., as well. People moving to Texas and California are going where the jobs are. And when poor people in the U.S. move to rich areas, that’s also a force for more equal national growth. Alongside the movement of goods and finance, the opportunities presented by movements of people are why poorer areas of the U.S. have traditionally grown faster than richer ones. Harvard economist Robert Barro and Columbia’s Xavier Sala-i-Martin estimated the rate of “income convergence” between states—how fast the gap is shrinking between poor and rich states—was about 2 percent per year between 1880 and 1998.
Thirteen years ago, Tokyo’s governor destroyed Japanese interest in diesel vehicles by banning all but those that installed exhaust fume purifiers from roads in the nation’s largest city. Now the cars are making a comeback as manufacturers adopt technology that make them more eco-friendly. Hiroshima-based Mazda Motor is betting big on cleaner diesel engines for its home market, building new models to compete with diesel-powered sport-utility vehicles from Nissan Motor (NSANY) and Mitsubishi Motor and models that BMW (BMW) and Daimler’s (DAI) Mercedes-Benz unit have started shipping from Europe, where half of all new cars run on diesel.
After Sandy, we pushed the tree upright, tying its trunk to a fence post to keep it from listing. We pushed the roots down, and scattered the dirt to give them something to cling to. Almost two months on, it seems to be working. In our darkest season, a patch of green remains. The sage says there will be growth in the spring. We think so, too.
Among the many cruelties delivered by Hurricane Sandy, the Breezy Point fire has inscribed itself as one of the storm’s hellish signatures. Ranking with the worst residential fires in New York City’s history, it burned down 126 homes and damaged 22 more, leaving a conspicuous hole in the heart of this genial shore community. The storm hit Oct. 29 and about two months later, the neighborhood remains a cindery reminder of what it had once been.
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