Daily Digest

Daily Digest 11/12 - Cost Of Thanksgiving Jumps 13%, Why Italy's Eurozone Days Are Numbered, Unconventional Solar Energy

Saturday, November 12, 2011, 10:48 AM
  • Cost of a Thanksgiving meal jumps 13 percent this year
  • MF Global’s Missing Funds May Be ‘Massive’ Ploy: CFTC’s Chilton
  • Jim Grant: "The ECB Is Now Implementing The MF Global Trade"
  • Why Italy’s Days in the Eurozone May Be Numbered - Roubini
  • Alabama’s Jefferson County Enters Biggest Muni Bankruptcy as Crisis Victim
  • First Time Claims Data A Renoir
  • Unconventional Approaches to Solar Energy Capture
  • Why Solyndra’s Death Could be Good for the Solar Industry

Follow our steps to prepare for a world after peak oil, such as how to store & filter water

Economy

Cost of a Thanksgiving meal jumps 13 percent this year (ES2)

Thanksgiving meal costs are up more than the pace of food inflation in the U.S., where the government forecasts prices will increase 3.5 percent to 4.5 percent this year, the fastest since 2008. Rising commodity and energy prices boosted the cost of food eaten at home by 6.3 percent in September compared with a year earlier, according to data from the Census Bureau.

“The era of grocers holding the line on retail-food cost increases is basically over,” Anderson said. “The worst of the price inflation may be ending, and we should see a moderation in 2012."

MF Global’s Missing Funds May Be ‘Massive’ Ploy: CFTC’s Chilton (ES2)

The agency took the rare step of publicly announcing its investigation, which began on Oct. 31, saying it was in the public interest to confirm the enforcement action. Jill E. Sommers was named as the senior commissioner during the probe, after Gary Gensler, the agency’s chairman, recused himself.

Jim Grant: "The ECB Is Now Implementing The MF Global Trade" (ES2)

The Italian yields did not fall on their own. It raises questions of overall integrity of market prices. In the US the Fed has nationalized the yield curve. In Europe much the same is going on: the SNB is expanding its balance sheet at astonishing rates of speed. The world over there is seeing immense money printing and there is a huge race to debase on the behalf of the sponsors of paper money.

Why Italy’s Days in the Eurozone May Be Numbered - Roubini

Until recently the argument was being made that Italy and Spain, unlike the clearly insolvent Greece, were illiquid but solvent given austerity and reforms. But once a country that is illiquid loses its market credibility, it takes time – usually a year or so – to restore such credibility with appropriate policy actions. Therefore unless there is a lender of last resort that can buy the sovereign debt while credibility is not yet restored, an illiquid but solvent sovereign may turn out insolvent. In this scenario sceptical investors will push the sovereign spreads to a level where it either loses access to the markets or where the debt dynamic becomes unsustainable.

Alabama’s Jefferson County Enters Biggest Muni Bankruptcy as Crisis Victim (ES2)

The move yesterday by Alabama’s most-populous county, with about 660,000 residents, came after state lawmakers failed to back a September agreement with creditors led by JPMorgan Chase & Co. (JPM) that would have reduced its sewer-system debt of more than $3 billion. Governor Robert Bentley and local leaders worked unsuccessfully for two months to rally support for the deal.

First Time Claims Data A Renoir (Mike K.)

While the Federal Gummit dutifully reports both sets of numbers, the mainstream financial media dutifully reports just the fake numbers. Their view is that reality is just too complicated. So they give us a cartoon instead. In today's cartoons they reported that initial claims dropped to 390,000 last week from an upwardly revised 400,000 the week before. How pretty!

Energy

Unconventional Approaches to Solar Energy Capture (James S.)

The [U. Illinois] researchers found conditions for growing nanowires of various compositions of the III-V semiconductor indium gallium arsenide. Their methodology has the advantages of using a common growth technique without the need for any special treatments or patterning on the silicon wafer or the metal catalysts that are often needed for such reactions.

Why Solyndra’s Death Could be Good for the Solar Industry (James S.)

Yes, solar energy does need to arrive at end-user costs that are closer to fossil fuels, and concurrently, our research and development areas need to lead us beyond current solar PV technologies. The recent fall of Solyndra is a lesson in over-specialization but is not a damning of solar’s viability. The U.S. has 1,750 MW of PV planned for 2011 and currently employs 100,000 people, more than coal mining or steel manufacturing. Solyndra was producing a PV product that did not fit within traditional balance of system (BOS) solar industry structures. Their novel cylindrical solar modules which have a capacity to capture sunlight from 360º (if rooftops are painted white) and resist snow and dust, also required a shift in the industry as a whole in order to adopt them. Unfortunately, Solyndra’s timing was terrible, global poly-silicon supplies caught up with rising demand, going from a high of $500 per kilogram in 2008 to a mere $35 on spot markets today.

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."

7 Comments

rjs's picture
rjs
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littlefeatfan's picture
littlefeatfan
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Posts: 141
This weeks 3E links, resources and cartoons

posted at http://3es.weebly.com/ 

Arthur Robey's picture
Arthur Robey
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Posts: 3936
Prof Steve Keen on Russia Today

Prof Steve Keen hoes into the Failed economic model on Russia Today.

plato1965's picture
plato1965
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Joined: Feb 18 2009
Posts: 615
Wild ride...

 Fascinating interview with Doug Casey by James Turk...

 Idea / philosophy  dense..

 http://www.youtube.com/watch?v=hSyJjC_jBWQ

 "It is the mark of an educated mind to be able to entertain a thought without accepting it." - Aristotle..

thatchmo's picture
thatchmo
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Posts: 432
Thanks, Arthur.  Good

Thanks, Arthur.  Good interview- and she can actually walk backwards in those heels!   Aloha, Steve.

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
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Posts: 3936
Doug Casey talks to James Turk.

Thanks Plato.

I made notes.

  1. Countries will dissolve vith perfect instantanous communications. People will associate with like minded individuals. (New term "Files".) I would say that people will cluster around Memes and paradigms.
  2. The Singularity. I do not dismiss it out of hand as we have a race between exponential curves as they go asymptotic. The conclusion we can come to is that we are at the cusp of change.
  3. Money. It has to be Durable, Divisable, Convenient, Consistent (Frungible) and must have some Use Value. Paper is failing on the last two, therefore it will go the way of the dodo.
  4. That gold is the only possible measure of money is uncertain. I consider that money is a way of keeping score. Who owes whom what. For instance, I swapped my expertise in industry for a motor bike. The money was a form of information. And information can be automated with algorithims. Untouched by human hand, so to speak. This is why I favour digits that represent the contribution that one makes to the wellbeing of society. They can be both positive and negative in sign. If a psychopath had to mess with the Algorithm it would add a massive negative number against his account. So much so that he would depend on the charity of strangers for sustanance and shelter for the rest of his life.

I enjoyed the gentleness and measured pace of the discussion.

As for the Steve Keen interview, I found the interviewer's Intelligence attractive. But what can I say about the deep mystery of high heeled shoes? It is all beyond me.

 

earthwise's picture
earthwise
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Posts: 846
Arthur Robey wrote: As for
Arthur Robey wrote:

As for the Steve Keen interview, I found the interviewer's Intelligence attractive.............. 

You found her intelligence attractive? Time for some glasses, maybe.

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