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.

Article suggestions for the Daily Digest can be sent to [email protected]. 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."

12 Comments

patrickhenry's picture
patrickhenry
Status: Bronze Member (Offline)
Joined: Mar 12 2009
Posts: 76
High Costs to Start Farming Only for Conventional Farming

These high cost to start farming articles describe conventional (chemical) commodity farming.  Not the farming we need anymore of.

If you can afford a small house in town, then you can afford a small house in the country with enough acres to start raising vegetables, flowers, cattle, chickens, etc for little more than the cost of the land.

In Cody Holmes' book Ranching Fulltime on 3 Hours a Day, he describes 10 tools needed to start and none of them are even a tractor, let alone the quarter million dollar 8 wheel GMO croppers that the factory farms use.

His tool list: 

1. Roll of poly wire with posts

2. Wire cutters, with hammer on one end

3. Wire stretchers

4. Hand post driver

5. Corner post bar.

6. A pick up truck (most people need at least one vehicle, may as well be a pick up truck)

7. Logging chain

8. One 20 penny nail, or screwdrive

9 Chainsaw

10. A grazing managment system

 

 

doorwarrior's picture
doorwarrior
Status: Silver Member (Offline)
Joined: Oct 13 2009
Posts: 166
Great List`

Great list! All I would add would be some duct tape and bailing wire.

Rich

frobn's picture
frobn
Status: Silver Member (Offline)
Joined: Nov 28 2010
Posts: 184
One Million Protestors

I am glad to see that the unions are pledging support but hope that unions or any other group do not try to lead or hijack the movement like the tea party was hijacked. I was disturbed when I first read that the bit about the Black Panthers then I remembered that in the early days after the Stonewall Protests/Riots (June 1969) that the Black Panthers were among the first supporters of gay rights.

thc0655's picture
thc0655
Status: Diamond Member (Offline)
Joined: Apr 27 2010
Posts: 1513
Hijacking the protest

Of course the organized groups flocking to Wall St (but far fewer than a million people) are going to attempt to hijack the event! They see a media event getting more and more attention and they see an opportunity to create or bend the agenda to serve their own purposes.  The event will soon have a focus and one or more demands (my guess: many more than one demand).  I doubt the original people who went down to Wall St will recognize "their" event once the unions and celebrities get done with it.  I'm also sure that the many people who are watching from a distance and hoping their own anger is addressed are going to be disappointed.  When Al Gore and Al Sharpton arrive you know the movement's doom is sealed.   

You know what would be much more effective, even if they didn't have a sharp focus and a singular demand?  Everybody march down to their local Bank of America or Citibank branch and withdraw all their money, redepositing a small amount (less than $500) in a new account at a neighborhood bank or credit union.  With anything above $500, keep it at home and/or buy physical gold and silver.  Only deposit more cash to cover checks that you write.  Those decrepit institutions are secretly staggering and would need a surprisingly small nudge to tip over and shatter. I'd buy tickets to THAT!  And there would be no need to fight with the police.  In fact, get the police to come with you and close all THEIR personal accounts.  They're blue collar victims of the banksters too, after all.

Poet's picture
Poet
Status: Diamond Member (Offline)
Joined: Jan 21 2009
Posts: 1891
Move Your Money!!

If you don't support Wall Street banks, then why are you still with a Wall Street bank?!?

C'mon! Everyone - whether liberal or conservative or independent - can get behind this!

MOVE YOUR MONEY!

http://moveyourmoneyproject.org/

Poet

Damnthematrix's picture
Damnthematrix
Status: Diamond Member (Offline)
Joined: Aug 10 2008
Posts: 3998
The Reign of the One Percenters

The Reign of the One Percenters is a MUST READ bit of writing......  thanks to whoever found it and linked it here.

Mike

frobn's picture
frobn
Status: Silver Member (Offline)
Joined: Nov 28 2010
Posts: 184
Looks like JP Morgan and the

Looks like JP Morgan and the police have just upped the ante.

Is JP Morgan Getting a Good Return on $4.6 Million “Gift” to NYC Police? (Like Special Protection from OccupyWallStreet?)

 

Doug's picture
Doug
Status: Diamond Member (Offline)
Joined: Oct 1 2008
Posts: 3125
DTM

Thanks for the link.  A truly inspired and insightfful bit of writing.

Doug

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Gapminder

Professor Hans Rosling's Gapminder program can be downloaded for free here.

It taps int the UN Database and presents the information intuitively. I recommend it.

 I am going to see if I can reproduce the history of New York's GINI coefficient.

“New York is the epicenter of inequality in America’s latest Gilded Age. Because our political
leaders continue to grant massive tax cuts for the ultra rich while refusing to adequately raise the minimum wage, our state now has more inequality of income than Sri Lanka or Mexico,” said Joel Berg, executive director of the New York City Coalition Against Hunger.

From Here.

frobn's picture
frobn
Status: Silver Member (Offline)
Joined: Nov 28 2010
Posts: 184
Poet wrote: If you don't
Poet wrote:

If you don't support Wall Street banks, then why are you still with a Wall Street bank?!?

C'mon! Everyone - whether liberal or conservative or independent - can get behind this!

MOVE YOUR MONEY!

http://moveyourmoneyproject.org/

Poet

Check out credit unions, they may be a better place for your banking needs.

Credit Union locator

StanleyDavenport's picture
StanleyDavenport
Status: Member (Offline)
Joined: Oct 3 2011
Posts: 2
That's the second time I've

That's the second time I've seen tat Move Your Money project today! I was reading earlier about Rick Durbin's comment today about how he is encouraging people to leave Bank of America. According to this article from the news section on this credit card processing news site, Durbin, the senator from Illinois that got congress to cap debit card swipe fees at 21 cents, has been put off by B of A's attempt to find new sources of revenue to make up for it's upcoming losses. Glad I quit that bank after I found out about the robo-signing fiasco. Loving everyday with Chuck Schwab!

StanleyDavenport's picture
StanleyDavenport
Status: Member (Offline)
Joined: Oct 3 2011
Posts: 2
That's the second time I've

Oh, forgot to add... if you're going to switch banks, stay away from Chase. They're as evil as they come!

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