Daily Digest

Daily Digest 2/7 - American Gridlock, Crazy Little Thing Called Greece, Truth, Lies, And Afghanistan

Tuesday, February 7, 2012, 10:41 AM
  • The Relentless Pursuit of Meaningless Metrics
  • Illusion Of Recovery - Feelings Versus Facts
  • American Gridlock, Part 2
  • Crazy Little Thing Called Greece
  • Saudi Arabia Will Not Let Oil Go Above $100: Prince
  • Truth, Lies, And Afghanistan
  • Fukushima Reactors Heating Up Again … Water Fails to Cool Them Down
  • A Perfect Storm of Planetary Proportions

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


The Relentless Pursuit of Meaningless Metrics (Ilene)

The real capper was the unexpectedly strong numbers in Friday’s Non-Farm Payroll Report. The report showed a gain of 243,000 jobs in January, surpassing December’s revised reading of 203,000 and beating consensus expectations of 135,000. The survey also showed the average workweek increasing from 34.4 to 34.5 hours. Private payrolls increased by 257,000. Friday’s ISM Non-Manufacturing (Service) Index showed strong growth in employment and new orders.

Illusion Of Recovery - Feelings Versus Facts (JimQ)

The false storyline last week was the dramatic surge in new jobs. This fantastic news was utilized by the six banks that account for 80% of the stock market trading to propel the NASDAQ to an eleven year high and the Dow Jones to a four year high. The compliant corporate press did their part with blaring headlines of good cheer. The entire sham was designed to make Joe the Plumber pull out one of his 15 credit cards and buy a new 72 inch 3D HDTV for this weekend’s Super Bowl. When you watch a CNBC talking head interviewing a Wall Street shyster realize you have the 1% interviewing the .01% about how great things are.

American Gridlock, Part 2 (Chris M.)

Today we dive into Part 2 of Woody Brock’s notes from his new book, American Gridlock (www.amazon.com/gridlock). He looks at what we can do in the future to prevent another crisis like we had in 2008, why we need to change, how we bargain with China (will be very controversial, in China at least!), what capitalism really is, and then he addresses the thorny issue of what it means to distribute wealth fairly. What can be said to those concerned with the top 1% of the population owning a grossly disproportionate share of the nation’s wealth?

Crazy Little Thing Called Greece (Ilene)

Looking at our Big Chart, we certainly have an impressive-looking breakout and far be it for me to point out it came at the expense of a weak Dollar so, unless you were 100% in stocks and gained along with the S&P faster than the Dollar fell, you probably had a net loss of wealth during this "rally" as the declining Dollar decimated the value of everything else you worked to build over your entire life but, hey – look at that S&P go!

Truth, Lies, And Afghanistan (Dana T.)

Much of what I saw during my deployment, let alone read or wrote in official reports, I can’t talk about; the information remains classified. But I can say that such reports — mine and others’ — serve to illuminate the gulf between conditions on the ground and official statements of progress.

And I can relate a few representative experiences, of the kind that I observed all over the country.


Saudi Arabia Will Not Let Oil Go Above $100: Prince (Dana T.)

As for Iran, he said it is important for the U.S. and other nations to put sanctions on the "renegade country" to force its government to negotiate. Issuing an ultimatum of war would push Iran to the "desperate move" of blocking the vital oil shipment waterway.

"I believe a solution is not impossible with them," bin Talal said of Iran. "A dialog is the best way to do it."


Fukushima Reactors Heating Up Again … Water Fails to Cool Them Down (June C.)

The Daiichi complex in Fukushima, Japan … had a total of 1760 metric tons of fresh and used nuclear fuel on site last year, according to a presentation by its owners, the Tokyo Electric Power Company (Tepco). The most damaged Daiichi reactor, number 3, contains about 90 tons of fuel, and the storage pool above reactor 4, which the Nuclear Regulatory Commission’s (NRC’s) Gregory Jaczko reported yesterday had lost its cooling water, contains 135 tons of spent fuel. The amount of fuel lost in the core melt at Three Mile Island in 1979 was about 30 tons; the Chernobyl reactors had about 180 tons when the accident occurred in 1986.

A Perfect Storm of Planetary Proportions (JRB)

A Perfect Storm of Planetary Proportions: Within a few months, the crisis has deepened. In many areas, food shortages are rampant, drinking water has become a precious commodity, and patients in need of blood transfusions, insulin, or critical prescription drugs die waiting. Normal commerce has ground to a halt, replaced by black markets and violent crime. As fatalities climb into the millions, the fabric of society starts to unravel.

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."


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Two from Bloomberg

Americans Gaining Energy Independence The U.S. is the closest it has been in almost 20 years to achieving energy self-sufficiency, a goal the nation has been pursuing since the 1973 Arab oil embargo triggered a recession and led to lines at gasoline stations. Domestic oil output is the highest in eight years. The U.S. is producing so much natural gas that, where the government warned four years ago of a critical need to boost imports, it now may approve an export terminal. Methanex Corp., the world’s biggest methanol maker, said it will dismantle a factory in Chile and reassemble it in Louisiana to take advantage of low natural gas prices. And higher mileage standards and federally mandated ethanol use, along with slow economic growth, have curbed demand.




Peak Everything Oil, Food, Water: Is Everything Past its Peak? By 2030, the global middle class is expected to grow by two-thirds. That’s 3 billion more shoppers. They'll all want access to goods, including water, wheat, coffee and oil. Is there enough for everybody? Can business satisfy demand and avoid hitting "peak everything?"


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(Is this dungeon material?) 

FBI warns of threat from anti-government extremists

or the companion piece:

Trial of pro-arms militia set to start in Detroit (you have to consider how the feds got the incriminating evidence and what the "crimes" are)

Loved the comment under the first article

Wow! From 10 convictions to 18 convictions in 2010 and 2011!! This is an epidemic! Meanwhile Jon Corzine, John Paulson, Ben Bernanke, and many other fraudsters go free. 

I am not  the conspiracy type but this stuff has me wondering. 


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FBI: Paying cash for coffee could mean you are a terrorist


It seems to me that the FBI has really ramped up their game. Where are they headed with all of this? Is there an un-wind possible for this incredibly heightened state of monitoring? What's the end game here? At the very least, this policy would allow the FBI to greatly increase the number of agents it has. Can you imagine every small business owner in America calling in "potential terrorist activity"- how would they answer all of those calls, or investigate them? There must be unseen motives here. Any thoughts?

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