Daily Digest

Daily Digest 3/24 - Why Nations Fail, Curacao's Central Bank Freezes Credit, No Policy In U.S. Energy Debate

Saturday, March 24, 2012, 9:50 AM
  • 10 Reasons Why The U.S. Is On The Verge Of A Major Municipal Debt Crisis
  • Republicans and Democrats Both Want to Kill You!
  • Gov't To Keep Info On Americans With No Terror Ties
  • Curacao’s Central Bank Freezes Credit
  • Why Nations Fail
  • Bakken Shale Oil Far From A Bonanza
  • No Policy In U.S. Energy Debate
  • Bees still sick, EPA still stuck...time to get serious!
  • U.S. Intel: Water A Cause For War In Coming Decades

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10 Reasons Why The U.S. Is On The Verge Of A Major Municipal Debt Crisis (David B.)

#2 The city of Indianapolis is facing an unprecedented 75 million dollar budget deficit in 2012. City officials are warning that there may soon not be enough money to keep the streetlights on.

#3 Suffolk County in New York has declared a “fiscal emergency” after discovering that it is projected to take on a total of more than 500 million dollars of additional debt by the end of 2013.

Republicans and Democrats Both Want to Kill You! (ilene)

The real contrast is over what the plan does for the rich and what it does to everyone else. It reduces the top individual and corporate tax rates to 25 percent. This would give the wealthiest Americans an average tax cut of at least $150,000 a year. The money would come out of programs for the elderly, lower-middle families, and the poor.

"So what’s the guiding principle here?" asks Reich. "Pure social Darwinism. Reward the rich and cut off the help to anyone who needs it."

Gov't To Keep Info On Americans With No Terror Ties (thatchmo)

"Following the failed terrorist attack in December 2009, representatives of the counterterrorism community concluded it is vital for NCTC to be provided with a variety of datasets from various agencies that contain terrorism information," Director of National Intelligence James Clapper said in a statement late Thursday. "The ability to search against these datasets for up to five years on a continuing basis as these updated guidelines permit will enable NCTC to accomplish its mission more practically and effectively."

Curacao’s Central Bank Freezes Credit (Johan V.)

The credit freeze has sparked off a tussle between the two Caribbean islands. The Curacao Bankers' Association (CBA) is blaming Sint Maarten for the balance of payment deficit. It points to figures which show an economic decline on Sint Maarten last year. Curacao, in turn, registered a small growth. An umbrella business association in Curacao called the measure a "fatal blow" to the sector.

Why Nations Fail (woodman)

A new argument that a country’s ultimate success, or failure, is tied to how the average person does. Doesn’t matter if it’s ancient Rome, Venice, China, or the U.S.A.


Bakken Shale Oil Far From A Bonanza (DougA)

In January 2012, oil production in North Dakota hit 546,000 b/d, up from 342,000 b/d in January 2011, 253,000 b/d in 2010, and 187,000 b/d in 2009. With more drilling crews on the way, it is easy to see why optimists are projecting that millions of barrels per day will come from the various US shale deposits by the end of the decade. If we were talking about conventional oil coming from conventional oil fields, the optimists would probably be right --- but we aren't.

It took the production from 6,617 wells to produce North Dakota's 546,000 b/d in January. Divide the daily production by the number of wells and you get an astoundingly low 82 b/d from each well. I say "astounding" because a good new offshore well can do 50,000 b/d. BP's Macondo well which exploded in the Gulf a couple of years ago was pumping out an estimated 53,000 b/d before it was capped.

No Policy In U.S. Energy Debate (James S.)

Republican leaders in the House of Representative have tried to move Keystone XL around the president's desk through various unsuccessful legislative maneuvers. Before Obama left for Cushing this week, his critics called his trip a "road show" mired in "political theater." Rife with allegorical statements, including a depiction of the president as the Grinch from Dr. Suess, the Republicans claims on political theater hold zero merit, however.


Bees still sick, EPA still stuck...time to get serious! (dons)

Today, PAN joined beekeepers and partners Beyond Pesticides and Center for Food Safety in filing a legal petition that calls on EPA to suspend registration of Bayer’s controversial bee-toxic pesticide, clothianidin.

We also delivered over a million signatures from individuals around the world — including over 20,000 PAN supporters — calling on EPA to take decisive action to protect honey bees from neonicotinoid pesticides before it is too late.

U.S. Intel: Water A Cause For War In Coming Decades (Jeff B.)

The report is based on a classified National Intelligence Estimate on water security, which was requested by Secretary of State Hillary Rodham Clinton and completed last fall. It says floods, scarce and poor quality water, combined with poverty, social tension, poor leadership and weak governments will contribute to instability that could lead the failure of numerous states.

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Arthur Robey
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The Prophecies of Dune

These structural changes in the mortgage industry will reduce competition and ultimately increase the cost of money to buy a home.

It's not because there will be less money to lend. The end game is to eliminate the middlemen so the big lenders can fatten their profit margins.

And once there are only a handful of big players left offering mortgages, their pricing power will be almost monopolistic and undoubtedly raise the cost of borrowing for homebuyers.

From Money Morning

Democracy (The People) or the Banks.

Frank Herbert was an Oracle. His Dune Triology is a metaphore for our times. Take the Red pill and re-read it.

Vladimir Harkonen of Dune.

All written in 1965 no less.

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Arthur Robey
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ao's picture
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Arthur Robey wrote: The

Interesting.  This is just one of the reasons I dumped kilo bars a while back but I truthfully didn't expect to find it in this smaller sized bar.  Just another good way for TPTB to shake up the gold market.

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Arthur Robey wrote: The

Has anyone heard of 1 ounce bullion coins "stuffed" with tungsten?

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