Daily Digest

Daily Digest 10/1 - The Reign Of The 1%, 1M Protestors To Occupy Wall Street, Young Farmers Burdened By High Startup Costs

Saturday, October 1, 2011, 10:33 AM
  • The Reign of the One Percenters
  • Peter Schiff's & Axel Merk's Five Favorite Currencies for the Next Five Years
  • Jeremy Rifkin: "The Third Industrial Revolution"
  • One Million Protestors To Occupy Wall Street
  • Population math explained: Growth rate is down, total is up
  • High Costs Make It Harder To Grow Young Farmers

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Economy

The Reign of the One Percenters (jdargis)

For my daughter’s benefit, so that she might know the enemy better, know what he looks like, where he nests, and when and where to throw eggs at his head, we start the tour at Wall Street. It’s hot. August. We’re sweating like old cheese.

Here are the monuments that matter, I tell her: the offices of Deutsche Bank and Bank of New York Mellon; the JPMorgan Chase tower up the block; around the corner, the AIG building. The structures dwarf us, imposing themselves skyward.

Peter Schiff's & Axel Merk's Five Favorite Currencies for the Next Five Years (Joe P.)

While both analysts share a devotion to hard money "Austrian" economics, some differences in opinion arise, including best choice for "safe haven" currency. Candidates considered include the Swiss franc, Norwegian krone, Singapore dollar, and the Australian dollar. They discuss in detail the potential for a collapse, or resurgence, of the struggling euro. They also evaluate the future prospects for the highly managed Chinese renminbi whose peg against the U.S. dollar has been one of the dominant factors shaping the global economy. Along the way, they discuss other currencies before finally settling on their "five favorites" for the next five years.

Jeremy Rifkin: "The Third Industrial Revolution" (woodman)

An economist explains how internet technology and renewable energy are merging to change the way we live and work.

One Million Protestors To Occupy Wall Street (June C.)

There will undoubtedly be an interesting mix of individuals on the ground in New York on October 5th. Third party libertarian types have never mixed very well with unions, but perhaps Americans will be able to unite behind a single cause rather than be manipulated into conflict by mainstream talking pieces at the behest of political operatives. We’re not holding our breath, but this is a good start.

Population math explained: Growth rate is down, total is up (dons)

Over the past 50 years, the growth rate of the global human population has slowed markedly, from 2.1 percent annual growth in the late '60s to about 1.2 percent today. Think 1.2 sounds low? Then you need a refresher on exponential growth. If the global population kept growing at that rate, our numbers would double in roughly 60 years.

High Costs Make It Harder To Grow Young Farmers (jdargis)

In farm country, business is still booming. Commodity prices remain high, and investors are funneling millions of dollars into buying farmland, making it quite enticing for the would-be farmer who wants to leave the rat race.

But surprisingly, these factors make it that much harder for the next generation of farmers to secure the financing they need to get on the tractor.

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