Daily Digest

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Daily Digest 1/12 - Curse Of The Zombie Title, Can A Global Collapse Be Avoided?

Saturday, January 12, 2013, 11:04 AM


Philly newspaper union: Company threatens ‘liquidation’ (Thomas C.)

The grim ultimatum was delivered Thursday by Michael Lorenca, the media company's chief operating officer, according to Dan Gross, president of the Newspaper Guild of Greater Philadelphia.

The latest U.S. foreclosure horror story: Curse of the zombie title (westcoastjan)

First, in 2010, the county sued Keller because the house, already picked clean by scavengers, was in a shambles, its hanging gutters and collapsed garage in violation of local housing code. Then the tax collector started sending Keller notices about mounting back taxes, sewer fees and bills for weed and waste removal. And last year, Chase’s debt collector began pressing Keller to pay his mortgage, which had swollen, with penalties and fees, from $62,100.27 to $84,194.69.

Acme grocery chain is being sold to investment group (Thomas C.)

Albertsons L.L.C., owned by Cerberus Capital, today operates 190 Albertsons markets and two Super Saver food stores in eight states.

"Our focus is on growing same-store sales through running good stores and improving operations," said spokeswoman Christine Wilcox. "There are no immediate, specific plans for any of the banners. It's too soon and inappropriate to speculate on what will happen with operations."

AIG Should Sue the Government (Arthur Robey)

The suit is being brought by Starr International, which was, at one time, AIG’s largest shareholder. Starr is controlled by Hank Greenberg, AIG’s founder and former CEO. The suit seeks remuneration in the Federal Courts, claiming shareholders’ rights to due process and equal protection were violated under Fifth Amendment safeguards against seizing property without just compensation.

What’s driving the lawsuit?

Can a collapse of global civilization be avoided? (Arthur Robey)

The authors say serious environmental problems can only be solved and a collapse avoided with unprecedented levels of international cooperation through multiple civil and political organizations. They conclude that if that does not happen, nature will restructure civilization for us.

Sales of Guns Soar in U.S. as Nation Weighs Tougher Limits (jdargis)

December set a record for the criminal background checks performed before many gun purchases, a strong indication of a big increase in sales, according to an analysis of federal data by the National Shooting Sports Foundation, a gun industry trade group. Adjusting the federal data to try to weed out background checks that were unrelated to firearms sales, the group reported that 2.2 million background checks were performed last month, an increase of 58.6 percent over the same period in 2011. Some gun dealers said in interviews that they had never seen such demand.

Over 50, and Under No Illusions (jdargis)

For millions of Americans over 50, this isn’t a bad dream — it’s grim reality. The recession and its aftermath have hit older workers especially hard. People 55 to 64 — an age range when many start to dream of kicking back — are having a particularly hard time finding new jobs. For a vast majority of this cohort, being thrown out of work means months of fruitless searching and soul-crushing rejection.

To which many experts say, “What did you expect?”


Heat, Flood or Icy Cold, Extreme Weather Rages Worldwide (Northernlights)

In Britain, where changes to the positioning of the jet stream — a ribbon of air high up in the atmosphere that helps steer weather systems — may be contributing to the topsy-turvy weather, people are still recovering from the December floods. In Worcester last week, the river Severn remained flooded after three weeks, with playing fields buried under water.

In the shop at the Worcester Cathedral, Julie Smith, 54, was struggling, she said, to adjust to the new uncertainty.

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."


ao's picture
Status: Diamond Member (Offline)
Joined: Feb 4 2009
Posts: 2220
ao's picture
Status: Diamond Member (Offline)
Joined: Feb 4 2009
Posts: 2220
extreme weather

Regarding the article on extreme weather, we are experiencing just that in the Upper Peninsula of Michigan.  When we moved here over 20 years ago, I joked with my wife that, with global warming, soon palm trees would be growing on Lake Superior.  Unfortunately, that situation doesn't seem quite as absurd now.  In January 1992, on my favorite Lake Superior beach, there were frozen ice "waves" up to 20 feet high extending a good one hundred yards out into the lake. The beach was covered with several feet of snow.  Now 21 years later, there is no ice ... not on the water ... not on the beach.  And there is no snow either.  While heating and snow removal bills are down, the local tourist economy will surely suffer.  Snow brings in downhill and cross country skiers, snow shoers, dog sledders, ice fishermen, and snowmobilers and brings business to hotels, restaurants, gas stations, and the other folks serving the needs of the tourists.  It'll be interesting to see how this particular economic circumstance affects the rest of the economy.  The university in town has been tightening its belt and is trying to increase enrollment ... from overseas.  Somehow I don't think that's going to be very successful.  The regional medical center in town has been bought out by a large national corporation and belt tightening is going on there as well ... part of the overall global trend towards consolidation and centralization.  The iron mines are seeing decreased demand from places like China and India and there's been talk of lay-offs there.  Interestingly, a zinc and gold mine that was planned about 100 or so miles from here has been put on hold.  That action is telling.  This warmer weather does have its good side though.  We harvested the last crop from our garden, collards (from under plastic), on December 30.  In the past, production of virtually everything in the garden ceased by mid October.            

Arthur Robey's picture
Arthur Robey
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I have Found Her Again

For the fans of Lauren Lister I have found her again.

The story seems to be a lot more mainstream.

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3492
Take a look at my hand.

As financially dense as I am I think that I have got it.

The FED prints money hands it to the banks, they speculate with it on Wall Street, share yields go up, and desperate funds managers move their clients’ money over into script and out of precious metals. The market goes higher.

Add a little high frequency trader shenanigans and we have the metals market that we see now.

China is distancing itself from the $US and palming its dollars off to whoever will take them for real assets.

The USA says to Japan “If you want us to use our military might to defend you from China then you must buy US government bonds and support the greenback”.

So what’s a poor boy to do? I think I will emulate China and buy things that hurt when I drop them on my foot. But because I am unsure of my reasoning it won’t hurt to have some liquid on hand.

saxplayer00o1's picture
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Budget deficit set to hit $1 trillion for fifth straight year

Budget deficit set to hit $1 trillion for fifth straight year

gillbilly's picture
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Joined: Oct 22 2012
Posts: 411
Speculation is the key word!

You got it alright Arthur. "Speculation" is the key word which means the market is going up in notional value, not necessarily fair market value. That's what's wrong with this picture. You also have to add into this the underground/black market/money laundering, which has a higher percentage of the global market than the exchange of real goods/services and currencies, but is less than the derivatives share. Mix this all together into a nice stew, and you've got as CM points out...the price of everything and the value of nothing. Like making a good nourishing stew, too much of any one ingredient can ruin the entire thing! There are recipes that work, but unfortunately it's not the one we're currently following. 

Thank You

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