Daily Digest

Daily Digest 1/10 - U.S. Consumer Credit Rises Rapidly, Nigeria Fuel Strike Brings Country To Halt, Organic Vs. Monsanto

Tuesday, January 10, 2012, 11:51 AM
  • U.S. Consumer Credit Rises by Most in Decade
  • Strap In For A Wild Week!
  • Forbes: Regulators and Trustees Suppressing Details on MF Global
  • Absurd Gold/Silver Price Ratio; Why $500/oz Silver Is Now A Certainty In The Future
  • The Greek Parents Too Poor To Care For Their Children
  • Nigeria Fuel Strike Brings Country To A Halt
  • Nigeria Braced For More Strikes Against Rising Fuel Prices
  • Organic v. Monsanto
  • 8 Mighty Rivers Run Dry From Overuse

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Economy

U.S. Consumer Credit Rises by Most in Decade (Michael W.)

“Consumers are feeling more confident and making more big- ticket purchases,” said Richard DeKaser, deputy chief economist at Parthenon Group Inc. in Boston, who projected credit would climb by $11.6 billion, the highest estimate in the Bloomberg survey. “The debt pay downs of previous years are now allowing consumers to borrow a bit more freely.”

Strap In For A Wild Week! (Ilene)

20Tn was pumped into our $60Tn Global Economy since the 2008 crisis and that is not including "stealth" stimulus like the estimated $8Tn handed out by our own Fed to their Bankster buddies as well as tens of Trillions handed our around the World by other Central Banks.

Forbes: Regulators and Trustees Suppressing Details on MF Global (June C.)

“It seems that sloppy scanning and filing standards combined with preferential treatment for certain large brokers has substantially reduced the value of this part of the SEC’s public filing system. Since this is often the sole repository for disclosures about private companies, including broker dealers that do not have public holding companies, investors are being deprived of timely and critical information.

Absurd Gold/Silver Price Ratio; Why $500/oz Silver Is Now A Certainty In The Future (David B.)

This is not the whimsical theory of some ivory-tower economist, but a simple fact of markets which has been demonstrated to us all in totally unequivocal parameters. Thus back in the “bad, old days” of manipulation – when the banksters still had large hoards of bullion to dump onto the market and crush the price – the price of silver was pushed to a 600-year low (in real dollars). What did the extreme manipulation of the silver market in the 1990’s reap for the banksters? A 1,000% increase in the price of silver over the following decade.

The Greek Parents Too Poor To Care For Their Children (ScubaRoo)

"Over the last year we have hundreds of cases of parents who want to leave their children with us - they know us and trust us," Father Antonios says.

"They say they do not have any money or shelter or food for their kids, so they hope we might be able to provide them with what they need."

Energy

Nigeria Fuel Strike Brings Country To A Halt (ScubaRoo)

Some protesters waved placards bearing an effigy of President Jonathan with devil horns and fanged teeth, and showing him pumping fuel at a gas station.

Nigeria Braced For More Strikes Against Rising Fuel Prices (ScubaRoo)

Tens of thousands of people across Nigeria are expected to take part in a second day of strikes against rising fuel prices, triggered by the removal of a government subsidy.

Environment

Organic v. Monsanto (jdargis)

“It seems quite perverse that an organic farmer contaminated by transgenic seed could be accused of patent infringement,” says Public Patent Foundation director Dan Ravicher in a Cornucopia Institute article about the farmers’ lawsuit (May 30, 2011), “but Monsanto has made such accusations before and is notorious for having sued hundreds of farmers for patent infringement.”

8 Mighty Rivers Run Dry From Overuse (Jeff B.)

The Colorado River is one of the most used and contested waterways on Earth. It provides water for 30 million people, and has many dams and diversions along its 1,450 miles (2,333 kilometers).

Because it is so heavily tapped for agriculture, industry, and municipal uses along its course, the Colorado River rarely reaches its delta in the Gulf of California. About one-tenth of the river's former flow now makes it to Mexico, but most of that is used for farming and cities south of the border.

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3 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4145
many euro countries may see ratings cut by the end of this month

 

"Spending on the U.S. government’s two big public health programs slowed in 2010 yet outlays still rose more than twice as fast as private health insurance expenditures because of the flagging economy, a federal report said.

The U.S. and states combined to spend $401 billion on Medicaid, the health program for the poor, an increase of 7.2 percent. Outlays for Medicare, the federal health program for the elderly and disabled, rose 5 percent to $525 billion. Spending on coverage from insurers such as UnitedHealth Group Inc. totaled $848.7 billion, an increase of 2.4 percent.

Consumer spending on health care declined because of losses in private insurance coverage, lower household incomes and financial uncertainty about the future, according to the report from the U.S. Centers for Medicare and Medicaid Services. "

Other headlines:

  1. Euro banks park record sums with ECB as debt crisis lingers
  2. SEC wants banks to say more on European debt exposure
  3. Fitch warns that many euro countries may see ratings cut by the end of this month
  4. Twinkie, Wonder Bread maker Hostess nearing Ch. 11 bankruptcy
  5. Judge lets bankrupt US town slash pensions (Central Falls...."will cut their annual pay-outs by up to 55 per cent")
  6. Rural schools struggle to keep buses running (California)
  7. Alarm bells ring as banks pull out of eastern Europe
  8. Ireland 'must renegotiate debt deal or face default'
  9. Pension troubles in store for retired workers as plans across Canada face deficits
  10. Public sector workers assured pensions are safe after £787m deficit (UK)
  11. Dan Walters: California's 'wall of debt' is really a mountain
Tall's picture
Tall
Status: Platinum Member (Offline)
Joined: Feb 18 2010
Posts: 564
Where Have All The Jobless Gone?

The fall in the labor force participation rate seems to confirm what a lot of folks have suspected: that the path from long-term unemployment to discouragement to permanent joblessness is a more or less one way street.

http://www.businessweek.com/finance/occupy-wall-street/archives/2012/01/where_have_all_the_jobless_gone.html

Tall's picture
Tall
Status: Platinum Member (Offline)
Joined: Feb 18 2010
Posts: 564
Water Risk in Supply Chains Draws Investor Scrutiny

Jonas Kron is worried about water. The investment adviser at Trillium Asset Management, a $900 million fund manager that focuses on environmentally sustainable investment, fears the world’s dwindling supply of fresh water is hurting the companies he has invested in. For most of the year, Kron has led a shareholder challenge to J. M. Smucker, the strawberry jam maker that also owns Folgers coffee. Kron says the company hasn't demonstrated it's prepared for the market changes that are sure to come as climate change reduces the size of the world’s coffee growing area. The conversation has been difficult in part because corporate leaders still seem unaware they need to factor water risk into their financial projections, says Kron. "We're not talking about charity here," says Kron. "These are investors seeking to have the company address the risks in its supply chain."

Smucker’s says it’s hedging against potential increases in raw material prices, but Mother Nature, Kron points out, can defeat any hedge. “At a certain point, you need to deal with the fundamental, underlying fact that these are crops grown with soil, sunlight, and water, and you can’t escape the laws of nature.”

http://www.bloomberg.com/news/2012-01-10/water-risk-in-supply-chains-draws-investor-scrutiny.html

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