Daily Digest

Daily Digest 1/14 - The Biggest Story Of Our Time, Making It In America, Why Oil Prices Are About To Collapse

Saturday, January 14, 2012, 11:54 AM


  • Many Americans Gave Up Hope Last Year – 2012 Will Be Worse

  • The Biggest Story of Our Time

  • Making It In America

  • Gold Rebounds And Gains Momentum

  • Survey Finds Rising Perception of Class Tension

  • For Europe, Few Options in a Vicious Cycle of Debt

  • Why Oil Prices Are About To Collapse

  • Waterwise

Learn how to protect your wealth against the Three E forces using our 'What Should I Do?' guide



Economy



Many Americans Gave Up Hope Last Year – 2012 Will Be Worse (Michael W.)


Indeed, middle-aged people who thought that they would be unemployed for a few months have now realised that they were, in fact, forcibly retired. Young people who graduated from college with tens of thousands of dollars of education debt cannot find any jobs at all. People who moved in with friends and relatives have become homeless. Houses bought during the property boom are still on the market or have been sold at a loss. More than seven million American families have lost their homes.



The Biggest Story of Our Time (Jim P.)


Bill Moyers: The growth of inequality in this country is the biggest story of our time. The "have-nots" now have less than they ever did. The "have-it-alls" now have more than they ever did. Since 1979, 40 percent of the growth of income has gone to one percent of the population. This is changing us radically.



Making It In America (jdargis)


Across America, many factory floors look radically different than they did 20 years ago: far fewer people, far more high-tech machines, and entirely different demands on the workers who remain. The still-unfolding story of manufacturing’s transformation is, in many respects, that of our economic age. It’s a story with much good news for the nation as a whole. But it’s also one that is decidedly less inclusive than the story of the 20th century, with a less certain role for people like Maddie Parlier, who struggle or are unlucky early in life.



Gold Rebounds And Gains Momentum (David B.)


Seasoned gold investors know that gold prices can be quite volatile – with big upswings often followed by big downswings, albeit wrapped around a rising long-term trend. At every downturn the gold bears have come out of the woodwork. And just as they have been repeatedly wrong in the past decade, they are still wrong (in our opinion) in 2012. Before this week’s rise, the Wall Street Journal wrote an obituary for gold as a safe haven. The article by Stephen L. Bernard said that “it turns out gold is just another metal after all.” It noted that after trading for much of 2011 as a safe haven, gold is acting more like other commodities and riskier assets these days.



Survey Finds Rising Perception of Class Tension (jdargis)


“Income inequality is no longer just for economists,” said Richard Morin, a senior editor at Pew Social & Demographic Trends, which conducted the latest survey. “It has moved off the business pages into the front page.”



For Europe, Few Options in a Vicious Cycle of Debt (jdargis)


Given this vicious cycle, policy makers and investors are closely watching the debt auctions for potential weakness. On Thursday, Spain is set to sell as much as 5 billion euros ($6.3 billion) of government bonds. Italy follows on Friday with an auction of more than $9 billion.


Energy



Why Oil Prices Are About To Collapse (James S.)


North Sea crude oil production has been in secular decline for many years, and even though the North Sea crude oil benchmark contract was extended from the Brent quality to become BFOE, there are now only about 60 cargoes each of 600,000 barrels of BFOE quality crude oil (and as low as 50 when maintenance is under way) delivered out of the North Sea each month, worth at current prices about $4 billion.


Environment



Waterwise (Jason C.)


It started out as a very simple device just for testing whether or not there was a high concentration of bacteria in the water, but that has expanded into detecting nutrient pollution and volatile chemicals as well as microbiological contaminants.


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3 Comments

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
The cracks of uncertainty widen.

Nasa delivers a lightweight video about Low energy nuclear reactions. All style and little substance. I offer it because it comes from NASA.

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
From the Naked Capitalist.

From the Naked Capitalist.

Americans are being taught what to think, not how to think.

plato1965's picture
plato1965
Status: Platinum Member (Offline)
Joined: Feb 18 2009
Posts: 615
 Arthur, your input is

 Arthur, your input is sorely missed in a certain long-term topic you inspired -> http://www.peakprosperity.com/forum/how-would-abundant-energy-change-game/70032

 re: the lightweight NASA imprimatur version..

 

 set em up joe..  http://joe.zawodny.com/

 .. and one more for "the road".. ( Cormac MacCarthy - noooooooooooooo! )

 

 

 

 

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