Daily Digest

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Daily Digest 2/2 - IMF Hits Argentina With First-Ever Censure, China's Toxic Sky

Saturday, February 2, 2013, 11:25 AM

Economy

Brian Stewart: More espionage now than during the Cold War (Nervous Nelly)

The Canadian government has done everything it can to play down the espionage damage done to this country and our allies by naval Sub-Lt. Jeffrey Delisle.

But the case continues to rumble through the Western intelligence world as one of the biggest spying debacles possibly in decades.

IMF hits Argentina with first-ever censure of a country (Nervous Nelly)

Buenos Aires benefits from understating the data, because a large part of its sovereign debt is indexed to inflation.

The IMF and Argentina have a long history of troubled relations, with successive governments blaming the Fund for domestic economic failures and the country's deep troubles in international debt markets.

Is capitalism ignoring the writing on the wall? (westcoastjan)

Harvard Professor Clay Christensen explained the difference, in the business world, with his 1997 breakout book “The Innovator’s Dilemma”. I interviewed him at Harvard in 2005 about his theory of disruptive innovation and how the failure to recognize the dangers, and opportunities, in changing circumstances have devastated many industries from steel to retail, telecoms, the media and others.

Supreme Court ranks DIP lenders ahead of pension funds in Indalex case (westcoastjan)

The Supreme Court’s ruling overturns a controversial Ontario Court of Appeal decision that had put pension plans first in line to receive funds following a court supervised sale of the company under a federal law called the Companies’ Creditors Arrangement Act or CCAA.

Energy

Ottawa gives Irving Oil tentative approval for west-to-east oil pipeline (westcoastjan)

Oliver, though, said the proposal would have to jump through fewer environmental hoops and take less time than two controversial pipeline projects in the West — the Northern Gateway pipeline through British Columbia and TransCanada’s Keystone XL line into the United States.

Chevron stands off with LNG buyers over pricing, warns projects at risk (westcoastjan)

Chevron, the second-largest U.S. energy company, bought 50% of the Kitimat LNG project last year from Encana Corp. and the Canadian unit of EOG Resources Inc. for an undisclosed sum. As part of that deal, the San Ramon, Calif.-based oil major also scooped up a 50% stake in the Pacific Trails Pipeline, plus more than 300,000 net acres of prospective shale gas properties in northeastern British Columbia.

Environment

The Disappearing Package: From Dissolving Wrappers to Products That Package Themselves (jdargis)

In his design, a bar of soap comes in a nontoxic package that can go in the shower; when it gets wet, the package dissolves, and you're left holding only the soap. The paper wrapping can be printed and embossed just like a regular box, but the design is a little different— Mickelson wanted to make sure that people wouldn't absentmindedly tear the package open and throw it out, so he intentionally made it hard to tear.

China's Toxic Sky (jdargis)

Since the beginning of this year, the levels of air pollution in Beijing have been dangerously high, with thick clouds of smog chasing people indoors, disrupting air travel, and affecting the health of millions. The past two weeks have been especially bad -- at one point the pollution level measured 40 times recommended safety levels. Authorities are taking short-term measures to combat the current crisis, shutting down some factories and limiting government auto usage. However, long-term solutions seem distant, as China's use of coal continues to rise, and the government remains slow to acknowledge and address the problems.

Air pollution from China reaches Japan, other parts of Asia (Nervous Nelly)

Beijing has been suffering severe air pollution this winter, with thick smog blanketing the capital and concentrations of PM 2.5 pollutants exceeding hazardous levels on more than 15 days in January.

Experts say China has failed to regulate air pollutants such as vehicle emissions, which have grown amid the country's rapid economic development.

Historic cod fishing cuts threaten centuries-old industry in New England

"Most analysts agree that cod stocks today are no where near healthy numbers, though some fishermen say they've netted more cod recently than in the past. Still, the Gulf of Maine has hit only about 18% of target levels, while Georges Bank fared far worse at around 7%, according to NOAA.

A government survey found that Gulf of Maine cod, considered a top earner, were so depleted that even if the fishing industry were to shut down completely, it would still not recover to the levels mandated by federal law by 2014."

Gold & Silver

Click to read the Gold & Silver Digest: 2/1/13

Provided daily by the Peak Prosperity Gold & Silver Group

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."

3 Comments

chm's picture
chm
Status: Bronze Member (Offline)
Joined: May 28 2011
Posts: 46
Woman, 80: pension €150, electricity debt €200, no power 6 month

http://www.keeptalkinggreece.com/2013/02/01/woman-80-pension-e150-electricity-debt-e200-no-power-6-months-in-athens/

Underlining that with her thin income she was unable to pay her debt to PPC, the woman explained how she lived in her one-bedroom home for a long period of time: No fridge, no heating, no shower, no light at night.

...

“she has been getting her meals at the soup kitchen of the local church,” a neighbor said expressing her outrage that no state official takes cares of elderly citizens.

The 80-year old has spent many hours of the cold winter days seeking shelter at the shop of a neighbor, a migrant.

“She comes here often, cooks maybe a meal on the camping gas or has with us a cup of tea,” the shop owner said in broken Greek.

...

According to CEO of Greek Public Power Company, 30,000 households and shops have electricity supply cut due to debts every month.

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 2310
Bitter Smog.

I am particularly bitter about the smog in China.

We in Australia benefit hugely from the sale of the coal that they burn. This is symbolic of the psychopathic nature of fascism. OK. Fascism is a bit strong. How about Corporatism where the government of the people is controlled by corporate interests?

On the other hand if we did not sell the dirty stuff to China, I don't think that the Chinese government would be too pleased.

Let us hope that their efforts in the laboratories with Cold fusion pay off.

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 2310
Paradigm Shift.

On the paradigm shift in Capitalism.

Financial Post

“Even if there is robust growth there won’t be job creation,” he said.

Professor Hagelstein gets phone calls regularly from organisations asking him to recommend experts in Cold Fusion.

He has to say that there are none, as the line of study has been sent to Coventry.

Source.

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