Daily Digest

Daily Digest 11/21 - MF Global: Fractal In A Frying Pan, SF Police Arrest 100 At BofA Protest, 'Near Poor' Grow In Numbers

Monday, November 21, 2011, 10:49 AM
  • The Complete And Annotated Guide To The European Bank Run (Or The Final Phase Of Goldman's World Domination Plan)
  • Asian powers spurn German debt on EMU chaos
  • MF Global - A Fractal In A Frying Pan
  • Interview With A Pepper-Sprayed UC Davis Student
  • San Francisco Police Arrest 100 In Bank of America Protest
  • Saginaw County commissioner: Sheriff sends wrong message buying office furniture after voters say 'yes' to new law enforcement tax
  • Older, Suburban and Struggling, ‘Near Poor’ Startle the Census
  • Kazakhstan Now World's Largest Uranium Miner

Our 'What Should I Do?' guide has steps to cook, see & stay warm in times of power outage

Economy

The Complete And Annotated Guide To The European Bank Run (Or The Final Phase Of Goldman's World Domination Plan) (pinecarr)

"Nervous investors around the globe are accelerating their exit from the debt of European governments and banks, increasing the risk of a credit squeeze that could set off a downward spiral. Financial institutions are dumping their vast holdings of European government debt and spurning new bond issues by countries like Spain and Italy. And many have decided not to renew short-term loans to European banks, which are needed to finance day-to-day operations."

So begins an article not in some hyperventilating fringe blog, but a cover article in the venerable New York Times titled "Europe Fears a Credit Squeeze as Investors Sell Bond Holdings." Said otherwise, Europe's continental bank run in which virtually, but not quite, all banks are dumping any peripheral exposure with reckless abandon is now on.

Asian powers spurn German debt on EMU chaos (pinecarr)

Asian investors and central banks have begun to sell German bonds and pull out of the eurozone altogether for the first time since the debt crisis began, deeming EU leaders incapable of agreeing on any coherent policy.

MF Global - A Fractal In A Frying Pan (June C.)

Celente got many of us thinking—“If a guy like him can be refused access to his money, then who is safe?” Some argue he should not have been buying “paper gold.” Celente states that he was buying PM futures and taking delivery. “Max Keiser” the “Silver Bears” “Turd Fergusen” and more, have encouraged us to buy silver and “Bust the Comex.” Many of us here on Zero Hedge have fantasized in the comments section about someone wealthy enough to lay a few billion on the Comex for PMs and then stand for delivery. Celente, it is arguable, was doing this not only for himself but perhaps for Joe and Josephine Average who do not have the ammunition to fight this fight.

Interview With A Pepper-Sprayed UC Davis Student (jdargis)

I'd pulled my beanie hat over my eyes, to protect my eyes. I received a lot of pepper spray in my throat. I vomited twice, right away, then spent the next hour or two dry heaving. Someone said they saw him spray down my throat intentionally, but I was so freaked out, and I was blinded by my hat, so I can't verify. I did get a large quantity of pepper spray in my lungs.

Another girl near me who has asthma had an attack triggered by the pepper spray, and she was taken to the hospital.

San Francisco Police Arrest 100 In Bank of America Protest (jdargis)

Reporting from San Francisco— Protesters in the Occupy Wall Street movement seized a Bank of America branch in the city's financial district Wednesday, a demonstration that forced jittery customers and employees to flee and ended in nearly 100 arrests.

It took about 40 police officers in riot gear nearly four hours to clear the bank, but no one was injured. Police said many of those arrested were UC Santa Cruz students who were protesting fee increases and budget cuts.

Saginaw County commissioner: Sheriff sends wrong message buying office furniture after voters say 'yes' to new law enforcement tax (Phil H.)

All told, the law enforcement agency spent $16,807 on furniture in September. Part of that was $2,103 spent to outfit an office for interns with a desk, credenza shell, and wall-mounted overhead unit, county invoices show. At the same time, the department paid $8,767 to the county maintenance department for labor and materials to move an interview office away from a bathroom, knock out a wall to expand another office and add a wall in a room, among other remodeling work, Federspiel said.

Older, Suburban and Struggling, ‘Near Poor’ Startle the Census (jdargis)

When the Census Bureau this month released a new measure of poverty, meant to better count disposable income, it began altering the portrait of national need. Perhaps the most startling differences between the old measure and the new involves data the government has not yet published, showing 51 million people with incomes less than 50 percent above the poverty line. That number of Americans is 76 percent higher than the official account, published in September. All told, that places 100 million people — one in three Americans — either in poverty or in the fretful zone just above it.

Kazakhstan Now World's Largest Uranium Miner (James S.)

While the March disaster at Japan’s Fuskuhima nuclear complex has caused several European nations to reassess their commitment to nuclear power, Kazakhstan’s regional markets seem assured in Asia’s rising economic powerhouses China and India. While Beijing has reacted to Fukushima by ordering thorough inspections of the nation’s nuclear power plants, China's Commission of Science Technology and Industry for National Defense in its 11th Five-Year Plan for the Nuclear Industry announced China intended to produce 40 gigawatts of nuclear power electrical generating capacity within a decade, even though nuclear power currently accounts for just 1.4 percent of China’s electrical power generation.

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."

22 Comments

saxplayer00o1's picture
saxplayer00o1
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heffe's picture
heffe
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Free information that inspires

This is a presentation in India from Justin Hall-Tipping regarding his company and their goals for free energy production. More energy from the sun hits our planet in ONE HOUR than the entire planet uses in one year. With biomass, urine capacitors, wind, transparent solar windows, thermal decouplers, etc, energy abundance could've been achieved decades ago.  Unfortunately the market system would rather preserve scarcity than allow poverty, population growth, and hunger to be eradicated.

www.youtube.com/watch

After having observed the cultural mindset here at CM, I now see that an incentive to promote collapse exists, particularly with CM. It is a very centered, non-flexible view towards society - that its going to collapse and nothing can stop it.  I've prepared, I thought collapse was going to happen several times by now, yet here we are, trucking along. I told all my friends to prepare, to get ready, and now I accept that I was wrong and have moved on.

While I know that society is collapsing, I now view it as a process of development, not a singular event. I've lost respect in Chris Martenson after his fourth or fifth blog claiming 'the end has come! Make your final preparations and hunker down!' This collapse has been underway for decades and will continue for many more. Sure it makes sense to prepare, but the cultural mindset here seems to view collapse as non-negotiable. We can mitigate this situation, all it takes is hard work, collaboration, and willingness to do so.

Here are some projects of interest-

Build a Community Aquaponic greenhouse. 

 With 3 acres, these folks produce over 1 million lbs of food annually. Energy source primarily biomass, however solar is in use as well.

Contruction, allocation of resources/equipment to construct greenhouse by use of open source projects such as....

 http://opensourceecology.org/  This crew has developed an interchangeable system of up to 12 different machines from drill press to tractors. They are nonprofit, and are oriented towards an open source economic system. Very worth while to donate to. With these 12 machines much of the equip. needed for construction is taken care of.  

http://en.wikipedia.org/wiki/Contour_Crafting Another prospective organization, again valuing open source information and collaboration. With the techniques here, it is possible to construct a simple house in 24 hours with 75% less waste then normal contruction techniques. Still in research stages, but interest in CC is growing and once my proposal has been drafted, CC should be set to contribute.

http://en.wikipedia.org/wiki/3D_printing Various companies sell 3d printers, my goal is to develop a community warehouse with large scale 3d printers, capable of metal work, plastics, and wood/epoxy. With 3d printers, much of our industrial tools and applications are able to be 'manufactered' directly in our community. From tables, to plumbing, to kitchen ware, to simple tools like a hammer, a 3d printer is capable of producing many items. This helps to decentralize production, every community should have a warehouse dedicated to production via 3d printing. Not to mention, with a capable recycling program, plastic bottles can be used to create goods via 3d printing.

Im still in very beginning stages, from land use provisions, costs, what companies and their contribution, how to promote etc. but already I see potential for this to be underway in a few months. I welcome thoughts and hope more do the same for their community.

 

Johnny Oxygen's picture
Johnny Oxygen
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Please

After having observed the cultural mindset here at CM, I now see that an incentive to promote collapse exists, particularly with CM. It is a very centered, non-flexible view towards society - that its going to collapse and nothing can stop it.
 

rjs's picture
rjs
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comments on a couple above..

Older, Suburban and Struggling, ‘Near Poor’ Startle the Census

that census measure is referred to in the article is on stats from 2010, and includes unemployment rations that some were collecting then...but remember, the big layoffs occurred end 08 & early 09, more than 99 weeks has passed since, so there's less than half of them receiving a check in 2011...

http://www.suntimes.com/news/nation/8642355-418/only-48-of-jobless-still-getting-unemployment-benefits.html

the current numbers are much higher than the census or NYT alludes to...

 

Aides: 'Super Committee' likely to announce failure to reach debt deal

the supercommittee was already toast last week; there was never enough time left for any plan to be scored by the CBO and returned to them by today in time for them to have the required 48 hours to review it and pass it before the Nov 23rd deadline; but the media has continued to report the actions as if a deal was still possible; just an indication that none of them bothered to understand the budget control act that created the supercommitttee in the first place...

 

rjs's picture
rjs
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one for heffe

America is Entering a New Age of Plenty - FT - Forget Al Gore’s “planet in peril.” Forget also Mr. Obama’s promise that future generations would look back on his nomination as “the day the oceans stopped rising.” Embrace instead the language of tar sands, shale gas, fracking and tight oil. Without quite knowing whether they were new boondoggles or potential game-changers, the debate in Washington until recently largely ignored these escalating supply shocks. Yet together, they have transformed America’s energy outlook. Because of better technology, notably breakthroughs in drilling, the U.S. all of a sudden realizes it is sitting on a century’s worth of gas supply (see chart above of domestic production). When Mr. Obama came to office, the country faced projections of rising natural gas imports from places like Qatar. The same technology has unlocked ever-growing estimates of once inaccessible “tight” oil lurking beneath America’s rocks. In its immediate neighborhood, Alberta’s huge expanse of “tar sands” contains oil reserves that rank Canada second only to Saudi Arabia. In Brazil, recent advances in offshore oil drilling will relegate Venezuela into second place in the region. Without any real input from Washington, windfalls just keep dropping into America’s lap. Welcome to a new age of plenty."

SailAway's picture
SailAway
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heffe wrote: While I know
heffe wrote:

While I know that society is collapsing, I now view it as a process of development, not a singular event. I've lost respect in Chris Martenson after his fourth or fifth blog claiming 'the end has come! Make your final preparations and hunker down!' This collapse has been underway for decades and will continue for many more. Sure it makes sense to prepare, but the cultural mindset here seems to view collapse as non-negotiable. We can mitigate this situation, all it takes is hard work, collaboration, and willingness to do so.

Heffe,

You thinks linearly and misses the exponential nature of our predicaments. This is why a rapid collaspe is possible, not certain but possible. 

 

ao's picture
ao
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heffe wrote: I welcome
heffe wrote:

I welcome thoughts and hope more do the same for their community.

Cease and desist with your tiresome psychological need to display some sort of imagined superiority over the alleged Luddites here (in your mind at least), stop the talking, and GO OUT AND DO SOMETHING REAL!

Then you can report back to us when you've accomplished something of substance other than perpetual hot air generation.

Arthur Robey's picture
Arthur Robey
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Instant gratification.

I have been meaning to say something about Instant Gratification for some time.

We have the attention span of gnats.

From some pest control mob.

People at work ask me when we are going to be hit by a meteor. Har Har de Har.

If the disaster is not overwhelming and instantaneous it is not real to the mind of a gnat.

Old age is a disaster. It is not instantaneous, but it will get you in the end. (If you are very lucky.)

The collapse of the British Empire took half of my life. We went from being a people who had to stand to attention in the movies when they played the obligatory "God Save the Queen" to a distant memory over 60 years.

This disaster is happening. Oh yes.

saxplayer00o1's picture
saxplayer00o1
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Fitch to review U.S. sovereign rating by month-end

 

"Fitch Ratings said late Monday that it would conclude a review of U.S. sovereign credit ratings by the end of November, in light of the congressional supercommittee's failure to reach a bipartisan deal to cut the federal debt. Fitch cited its previous statement in August that "failure by the supercommittee to reach agreement would likely result in a negative rating action -- most likely a revision of the rating outlook to negative, which would indicate a greater than 50% chance of a downgrade over a two-year horizon." It said a one-notch downgrade was possible but "less likely." "

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Nick and Maggie
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heffe johnny & ao

If you would be a real seeker of truth, it is necessary that at least once in your life you doubt, as far as possible, all things.                                                      Rene Descartes

 

I am saddened by the tone of the responses to heffe's comment.  Cordiality, grace and maturity please. 

 

Nick

guardia's picture
guardia
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Let's participate in the destruction!

Heffe, even if the world doesn't collapse, does it make it right to consume everything like we do now? Whether via plastic wrappings, flying all over the world or printing 3D objects? This is what Chris is all about. Showing people how to live better with less. It's not about collapse: That is a given. Samuel

ao's picture
ao
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Nick and Maggie
Nick and Maggie wrote:

I am saddened by the tone of the responses to heffe's comment.  Cordiality, grace and maturity please. 

 

Nick

Nick,

The tone is there for a reason and he knows why even if you may not.  CTFA.

Aaron M's picture
Aaron M
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Thanks Vets, now get lost!

http://ricks.foreignpolicy.com/posts/2011/11/02/thanks_vets_now_get_lost_or_how_i_found_out_that_ex_military_need_not_apply?wpisrc=obinsite

Last week, the Wall Street Journal had an article about a company that had 25,000 applicants for a single position but did not hire anyone because none of the applicants were "qualified." The author, an HR expert from Wharton, cited this kind of inflexiblity, refusal to pay competitive wages, and the death of corporate training and apprenticeships as contributing to unemployment. Veterans are some of the hardest hit hit by this insanity.

Cheers,

Aaron

chlorophyll's picture
chlorophyll
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polarity

 

 

As a new reader, I am disheartened as well to read  so many divisive, Congressional-like comments on this site.  Talk about fractals...  

Our situation does indeed look dire.   That's why we're all here.  But my own bias is that I do think a doomsday mentality can act as a sort of collective-unconscious-like spiritual pull in one direction or another.  The trends need to be known and discussed and understood.  I think, however, that  it's just as important to build bridges, highlight positive trends, and remember our shared imperfect humanity.  We are beautifully flawed, with the ability to work magic if we so choose.

When I finally see our government and corporate leaders become scared enough about our situation to act selflessly, and when I see a cohesive support system minus the sniping on this site, I will have hope.  And hope is good. 

h2oBoy's picture
h2oBoy
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MF Global - A Fractal In A Frying Pan

Where within the financial system can our life savings be safest? Many contributors, as well as CM, have given readers some solutions, including possession of PMs, cash, credit unions, local banks, pay off all debt, good land etc.. However, if these are all in place, and one has significant Roth and traditional IRAs, where is the safest place to park them. I use Fidelity, and manage my own trades through an independent advisor. After the collapse of MF Global I've begun to wonder, "Is Fidelity susceptible to the same collapse?' 

Could someone smarter than me provide some sense of what is best done in this instance?

Could this be an additional topic for Dr M or a guest contributor?

heffe's picture
heffe
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Posts: 95
Thanks for the responses!

Interesting that the focus of readers was on my views regarding collapse, not on my ideas on mitigating the collapse we are in.  Is this demonstrative of severe cognitive and emotional attachements to collapse?  I've already stated it once, but since the myopic style of reading by the members here have failed to see it, I'll say it again.  I BELIEVE WE ARE IN A STATE OF COLLAPSE, IT IS NOT A SINGULAR EVENT, BUT A PROCESS OF DEVELOPMENT.  For now I'll address specific posts to clarify my view

America is Entering a New Age of Plenty - FT - Forget Al Gore’s “planet in peril.” Forget also Mr. Obama’s promise that future generations would look back on his nomination as “the day the oceans stopped rising

Im not sure if your post is an assumption regarding my views towards contemporary consumption patterns.  I am for open source, scientific management of the Earth's resources. Tar sands, Fracking and the like are in my opinion, demonstrative of market mechanics which support scarcity and environmental degradation. We could've had clean, renewable energy abundance decades ago, however, oil conglomerates/gov'ts work hard to keep that from happening.

You thinks linearly and misses the exponential nature of our predicaments. This is why a rapid collaspe is possible, not certain but possible.

I agree, thats why I said I've prepared plenty. The whole point of my post was that too few who are aware of our exponential depletion rates, and the ones who are aware, dont think we can mitigate it through other means than individual approaches. Community based preparation makes more sense in my opinion, and with my proposals for aquaponic greenhouse and open source manufactering, more resilient and sustainable communities would develop.

Cease and desist with your tiresome psychological need to display some sort of imagined superiority over the alleged Luddites here (in your mind at least), stop the talking, and GO OUT AND DO SOMETHING REAL!

Then you can report back to us when you've accomplished something of substance other than perpetual hot air generation.

No need for immaturities such as these, Im proposing ideas to mitigate our situation. Again, those are community based aquaponic greenhouse systems, global village construction set from OSE, 3d printing, and contour crafting. Essentially using great companies for great causes. Right now Im researching locations, costs, and communicating with experts on the 'how to's' of developing these concepts.

If the disaster is not overwhelming and instantaneous it is not real to the mind of a gnat.

Old age is a disaster. It is not instantaneous, but it will get you in the end. (If you are very lucky.)

The collapse of the British Empire took half of my life. We went from being a people who had to stand to attention in the movies when they played the obligatory "God Save the Queen" to a distant memory over 60 years.

This disaster is happening. Oh yes

Like I've said, a process of development. I imagine next year more of my family and peers will be broke, or at least, enduring newfound austerity. Come the 20-teens I imagine things will be much worse, I suppose the variable in question is human behavior, along with the numerous unknowns still in play. This collapse could stretch for decades and become more of a transition than a immediate breakdown style collapse.

Heffe, even if the world doesn't collapse, does it make it right to consume everything like we do now? Whether via plastic wrappings, flying all over the world or printing 3D objects? This is what Chris is all about. Showing people how to live better with less. It's not about collapse: That is a given. Samuel

This is what Chris cares about?  Im not so sure about that, not to mention your disposition towards my post assumes I am all for the consumerist market system. I support the Resource Based Economic model as well as Open source economics and even energy accounting units for monetary exchange.  I do not support our contemporary system, which produces more waste than any other system. This waste comes from the necessity of maintaining cost efficiency and competitive advantage. Every item you consume within market systems inevitably supports exploitation or environmental degradation, thus I view the only route towards a sustainable economic model is transcending the market model of resource distribution. This does not mean, (as is commonly assumed) that I support current political notions of governing. I believe in autonomous management through the scientific inquiry.

Now, anyone care to offer ideas on how to develop aquaponic greenhouses? 

Johnny Oxygen's picture
Johnny Oxygen
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Re: Thanks for the responses!

Now, anyone care to offer ideas on how to develop aquaponic greenhouses?

It's been discussed quite a bit here. Check the 'search' feature.

Ready's picture
Ready
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heffe wrote: Now, anyone
heffe wrote:

Now, anyone care to offer ideas on how to develop aquaponic greenhouses? 

Actually yes. This is an area of proven expertise and developing new systems for a couple of the prominent posters here for years. Real world and all.

Problem is, we are busy not feeding the trolls, so as long as the approach by one heffe is what it currently is, it does not invite discussion. I suppose this makes us the problem.

I can live with that.

Can you?

 

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Damnthematrix
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are you there yet?
h2oBoy wrote:

Where within the financial system can our life savings be safest? Many contributors, as well as CM, have given readers some solutions, including possession of PMs, cash, credit unions, local banks, pay off all debt, good land etc.. However, if these are all in place, and one has significant Roth and traditional IRAs, where is the safest place to park them.

If you've STILL got wealth left over after being fully prepped up.....  I wouldn't worry about where to park it.  What you should be asking yourself is "have I actually invested as much into all the things I need as possible?".... and if the answer's still yes, I'll relieve you of some of your dosh, no sweat!

Just PM me...

Mike

guardia's picture
guardia
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Posts: 592
Re: Thanks for the responses!
heffe wrote:

This is what Chris cares about?  Im not so sure about that, not to mention your disposition towards my post assumes I am all for the consumerist market system. I support the Resource Based Economic model as well as Open source economics and even energy accounting units for monetary exchange.  I do not support our contemporary system, which produces more waste than any other system. This waste comes from the necessity of maintaining cost efficiency and competitive advantage. Every item you consume within market systems inevitably supports exploitation or environmental degradation, thus I view the only route towards a sustainable economic model is transcending the market model of resource distribution. This does not mean, (as is commonly assumed) that I support current political notions of governing. I believe in autonomous management through the scientific inquiry.

This sounds great. If you can prove that we can do everything you claim we can do, without the waste and pollution, please do submit it! That is another thing Chris cares about. And no conspiracy theories please, only facts. Physics being preferable. If you cannot prove everything here and there, then I am sorry to say, you have too much faith in technology that does not exist.

Samuel

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