Daily Digest

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Daily Digest 5/10 - Living On A Budget, No "Peak Natural Gas" Anytime Soon

Friday, May 10, 2013, 11:09 AM

Economy

Stocks Are Officially in a Blow Off Top (Kevin J.)

This whole mess is sad really. Having seen two bubbles burst in the last 13 years, we all know how this ends: in disaster. And each time the disaster has been bigger. Indeed, the 2008 collapse was a far worse thing than the Tech Crash.

Kevyn Orr: Detroit Is In Worse Shape Than I Thought (Thomas C.)

“We’ve been collecting operating deficits at about $18 million to $20 million a year. That’s nobody’s fault, I think, frankly, the mayor and the council has done the best they can with what they have. The city has probably cut as much as it can cut to the bone now, and so its been trying to operate on the basis of borrowing short-term loans all the time,” he said.

Orr said he isn’t ruling out bankruptcy for the city just yet.

Living on a budget: Readers' stories (westcoastjan)

In January I moved to London from Darlington. Since then I have lived on £1,242 a month after tax. Half of this goes on rent, which is twice what I was paying in the North. I also run a car, pay all of my other bills and go out at least twice a week with the money left over. The last week of the month is "porridge week". It's 99p for 500g of porridge and I eat it for breakfast, lunch and tea in the seven days before I get paid again. It sounds bad but all of my friends are in the same situation and come pay day, we are back on the town, having a good time. Having so little money at the end of the month makes you really grateful and means you make the most of what you have when you have it.

Mobiles 'to outnumber people next year', says UN agency (westcoastjan)

The report also found that 2.7 billion people, almost 40% of the world's population, are online.

Europe has the highest penetration (75%), followed by the Americas (61%). Asia has 32% of its population online, Africa 16%. ITU secretary-general Hamadoun Toure said the progress was "extraordinary" but that more needed to be done.

The man who makes his living whittling wooden spoons (westcoastjan)

After being apprenticed to a wooden furniture maker, he spent three years travelling around forests - sleeping in the woods and carving spoons from the trees.

He ended up saving enough money to open his tiny shop in Hackney last year, from which he creates the spoons using timber harvested from Tower Hamlets Cemetery Park.

Yen breaches 100 threshold mark against US dollar (westcoastjan)

Analysts said that on Thursday, strong data out of the US, which showed that first-time applications for unemployment insurance had fallen to the lowest level in more than five years, had helped the yen pass the mark.

The data triggered hopes of a sustained recovery in the US economy, they said, resulting in investors ditching safe-haven assets such as the yen in favour of the US dollar.

Renting your home can be lucrative, but are you ready for tenants from hell? (westcoastjan)

Real estate is generally considered a stable long-term investment, but you have to do something with it in the meantime. Operating multiple properties can be a time consuming, and unpredictable situation that’s not necessarily the best way to make money.

“I don’t think people realize how much it costs to run a house,” said Dan Lang, a property manager at Re/Max Little Oak Realty in Abbotsford, B.C.

Energy

No "Peak Natural Gas" Anytime Soon (James S.)

At the same time, development of shale gas outside North America will go much slower than it has gone in the U.S. and Canada. The Americans and Canadians were able to mobilize large amounts of capital in a relatively short span of time and already had a significant cadre of highly technically trained personal, not to mention the industrial base and process technology necessary for manufacturing the large amounts of sophisticated equipment necessary.

Environment

Union joins environmentalists in call for stricter controls on raw log exports (westcoastjan)

“I think we would all agree that we would rather add value here and have those logs manufactured here, but we recognize that, in the economics of the coastal industry, we need exports to keep the level of harvest up. That services mills and keeps additional jobs going.”

Overall exports for the province are about 10 per cent of the total harvest, which makes it important in the economics of the coastal industry, Thomson said.

Gold & Silver

Click to read the Gold & Silver Digest: 1/18/13

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."

2 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
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rjs's picture
rjs
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new high at 400 ppm
(Scripps Institution of Oceanography)

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