Daily Digest

Daily Digest 12/15 - The Person Of The Year, The Book Of Jobs, China's Epic Hangover Begins

Thursday, December 15, 2011, 10:45 AM
  • TIME Person Of The Year Introduction
  • Can America regain most dynamic labour market mantle?
  • The Book Of Jobs
  • The LIBOR-Gold Forwards Pain Index - Gold Lease Rates Plunged - More Than Meets the Eye
  • As Christmas nears, Toys for Tots collections are lagging
  • Why New Danger Of A Systemic Collapse Is Far Greater Today Than At Almost Any Time
  • Revealed: Huge Increase In Executive Pay For America's Top Bosses
  • China's epic hangover begins
  • David Stockman on the Coming European Train Wreck
  • JBI's Plastic2Oil Technology Turns Waste Into Fuel
  • ExxonMobil's Energy Outlook - What the Next 30 Years Will Look Like

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Economy

TIME Person Of The Year Introduction (jdargis)

Is there a global tipping point for frustration? Everywhere, it seems, people said they'd had enough. They dissented; they demanded; they did not despair, even when the answers came back in a cloud of tear gas or a hail of bullets. They literally embodied the idea that individual action can bring collective, colossal change. And although it was understood differently in different places, the idea of democracy was present in every gathering. The root of the word democracy is demos, "the people," and the meaning of democracy is "the people rule." And they did, if not at the ballot box, then in the streets. America is a nation conceived in protest, and protest is in some ways the source code for democracy — and evidence of the lack of it.

Can America regain most dynamic labour market mantle? (jdargis)

Saying everyone should get a “fair shot” always makes political sense – particularly at a time when US income inequality rivals that of Mark Twain’s “Gilded Age”. But it might have been a stretch for Mr Obama to suggest the American middle class is facing a unique “make-or-break” moment. In reality, the labour force has been polarising for most of the past generation in a trend that has sharply accelerated since 2000.

The Book Of Jobs (jdargis)

The fact is the economy in the years before the current crisis was fundamentally weak, with the bubble, and the unsustainable consumption to which it gave rise, acting as life support. Without these, unemployment would have been high. It was absurd to think that fixing the banking system could by itself restore the economy to health. Bringing the economy back to “where it was” does nothing to address the underlying problems.

The LIBOR-Gold Forwards Pain Index - Gold Lease Rates Plunged - More Than Meets the Eye (June C.)

As can be seen from the last two charts showing the LIBOR GOFO spread, the lease rates reported in the press are a derived rate and actually represent the amount that can be earned from the gold carry trade.

As Christmas nears, Toys for Tots collections are lagging (June C.)

Last year at this time, mountains of skateboards, soccer balls, basketballs, dolls, and books filled containers at a processing center in Northeast Philadelphia. This year, the center has moved to 2501 Ford Rd. in Bristol, a warehouse "twice as small and twice as empty," Palos said.

Why New Danger Of A Systemic Collapse Is Far Greater Today Than At Almost Any Time (David B.)

The European Union is the biggest economy in the world — close to $15 trillion in GDP. When it sinks, so does the U.S. and much of the world.

European banks are roughly THREE times larger than U.S. banks. When they’re forced to cut their lending drastically, global capital shortages hit hard.

Most frightening of all, the U.S. has committed most of the same mistakes as Europe — the same kind of massive debts, deficits, and failed bailouts.

Revealed: Huge Increase In Executive Pay For America's Top Bosses (Michael W.)

Last year's survey, covering 2009, found pay rates were broadly flat following a decline in wages the year before. Base salaries in 2009 showed a median increase of around 2%, and annual cash compensation increased just over 1.5%. The troubled stock markets took their toll, and added together CEO pay declined for the third year, though the decrease was marginal, less than three-tenths of a percent. The decline in the wider economy in 2007, 2008 and 2009 far outstripped the decline in CEO pay.

China's epic hangover begins (pinecarr)

China's credit bubble has finally popped. The property market is swinging wildly from boom to bust, the cautionary exhibit of a BRIC's dream that is at last coming down to earth with a thud.

David Stockman on the Coming European Train Wreck (pinecarr)

In his most recent email to me, Mr. Stockman expounds on some things that illustrate why the European banking system is on the verge of collapse:

The real story of the present is the shadow banking system, the unstable and massive repo market, and the apparent daisy chain of hyper-rehypothecated collateral. It looks like the sound bite version amounts to the fact that the European banking system is on the leading edge of collapse for the whole system. These institutions are by all evidence now badly deficient of the three hallmarks of real banks—deposits, capital and collateral.

Energy

JBI's Plastic2Oil Technology Turns Waste Into Fuel (Dave)

The technology is not that complicated. As feedstock, it can accept a wide range of plastics, including those that are unsorted, unwashed, or difficult to recycle. The main source of plastic waste the company is using at this time is from industrial sources that produce huge amounts of waste annually. In fact, some of these companies send the waste to plastic only landfills that can be mined to obtain the needed feedstock. Once the material is obtained, it can be cut up into small chunks before it is utilized, but recent advancements have led to the ability of putting larger pieces of plastic directly into the system.

ExxonMobil's Energy Outlook - What the Next 30 Years Will Look Like (James S.)

While demand in the United States and other fully developed economies will remain relatively constant, global growth in energy demand will be led by China and other countries which are not part of the Organization for Economic Cooperation and Development (OECD). Non OECD energy demand is projected to rise by nearly 60 percent from 2010 to 2040.

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

Tall's picture
Tall
Status: Platinum Member (Offline)
Joined: Feb 18 2010
Posts: 564
Census data: Half of U.S. poor or low income

Squeezed by rising living costs, a record number of Americans — nearly 1 in 2 — have fallen into poverty or are scraping by on earnings that classify them as low income.

The latest census data depict a middle class that's shrinking as unemployment stays high and the government's safety net frays. The new numbers follow years of stagnating wages for the middle class that have hurt millions of workers and families.

"Safety net programs such as food stamps and tax credits kept poverty from rising even higher in 2010, but for many low-income families with work-related and medical expenses, they are considered too `rich' to qualify," said Sheldon Danziger, a University of Michigan public policy professor who specializes in poverty.

http://www.cbsnews.com/8301-201_162-57343397/census-data-half-of-u.s-poor-or-low-income/

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4064
DurangoKid's picture
DurangoKid
Status: Silver Member (Offline)
Joined: Oct 25 2008
Posts: 174
Plastic2Oil

A rehash of thermal depolymerization?  Sounds green?  Consider that when you dig up plastic from a landfill and convert it to diesel, you're  taking sequestered carbon and pumping it into the atmosphere.  Then take a look at the solid carbon waste at the end of the process.  All the metals that pass through the system ends up in that char.  Again, burning it  puts the carbon into the air.  Using it as a soil amendment doesn't look so good because of the metal contamination. 

The situation isn't much better when you start with organic waste.  Ideally, that waste should be composted and returned to the soil.  Burning it just transfers carbon from the soil through a potential profit center and into the air.  Some of the product, the char, could be returned to the soil, but it's not likely when it's touted as a replacement for coal.

Doesn't sound so green after all.

Damnthematrix's picture
Damnthematrix
Status: Diamond Member (Offline)
Joined: Aug 10 2008
Posts: 3998
Plastic2Oil

How clever can we get......  turn oil into waste, and then turn it back again!  ERoEI?  Must be zero surely....

Mike

heffe's picture
heffe
Status: Bronze Member (Offline)
Joined: Dec 26 2009
Posts: 95
All-Natural Plant Anti-Freeze and wireless car charging by 2013

More great news from the zeitnews.org website, of course relating to the three E's

Here we have a newly developed, all-natural compound that enhances a plants ability to resist freezing damage, both externally and internally

http://www.zeitnews.org/applied-sciences/new-eco-friendly-foliar-spray-provides-natural-anti-freeze.html

This article describes how wireless car charging technology could be economically feasible by 2013

http://www.zeitnews.org/transportation/wireless-car-charging-could-be-here-as-soon-as-2013-read-more-wireless-car-charging-could-be-here-as-soon-as-2013-inhabitat-green-design-will-save-the-world.html

Hug a scientist if you know one!

 

P20Man's picture
P20Man
Status: Member (Offline)
Joined: Oct 17 2010
Posts: 6
Plastic2Oil Green ?

Some environmental government types (EPA) thing its green.

http://www.plastic2oil.com/site/news-releases-master/2011/12/15/jbi-inc-receives-air-permit-exemption

Happy Holidays to All

DurangoKid's picture
DurangoKid
Status: Silver Member (Offline)
Joined: Oct 25 2008
Posts: 174
Plastic2Oil

EROEI can be negative.

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