Daily Digest

Daily Digest 3/7 - A Recession For Both Sexes, Camden Police Force Cut In Half, Obama Considers Tapping Oil Reserve

Monday, March 7, 2011, 11:49 AM
  • His Recession, Becoming Hers
  • Police Force Nearly Halved, Camden Feels Impact
  • HSBC squashes reports of its flight from UK as 'speculative'
  • Libya: A Rebel Setback
  • Obama Considers Tapping Oil Reserves
  • Tech Talk - Countries producing around 2 mbd - Nigeria, Angola, Libya and the UK
  • The Two Most Important Charts For The Near-Term Future Of Oil Prices
  • In New Food Culture, a Young Generation of Farmers Emerges

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Economy

His Recession, Becoming Hers (jdargis)

Heather Boushey, an economist with the Center for American Progress, points out that since the economic recovery officially began in June 2009, private-sector employers have hired a net total of 503,000 men, while jobs held by women have declined by 141,000.

Police Force Nearly Halved, Camden Feels Impact (jdargis)

Residents have taken their own precautionary measures. One homeowner, Randolph Norfleet, has used the heavy snow this winter as a deterrent to local drug dealers, shoveling each storm’s accumulation onto the footpath where the dealers lurked alongside his home.

Police headquarters now sits nearly empty, its front reception window sometimes closed, as most of the department’s staff has been pushed onto the street for patrol duty. Detectives cannot devote as much time to investigations; a widely praised bicycle unit was disbanded. Even the canine unit lost two of its three dogs.

HSBC squashes reports of its flight from UK as 'speculative' (pinecarr)

HSBC, which stands for Hong Kong and Shanghai Banking Corporation, is expected to decide in the autumn whether to keep its headquarters in the UK and will be a key test of the coalition's tax policies.

Flint has warned that the bank levy – which costs the bank £700m a year – is a location tax. The bank is also concerned about the banking commission which reports in September and could recommend that banks such as HSBC are broken up.”

Libya: A Rebel Setback (jdargis)

And so the day went, a blend of bravado and real bravery, too, and fear and confusion and chaos, with the rebels gradually inching closer and closer to the outskirts of the town. Moving with them, my colleagues and I took temporary cover behind hummocks of earth when the fighters began yelling and running, or when artillery shells, which the government forces had begun to fire, exploded in the near distance. The shelling and firing back increased in tempo toward the afternoon. The rebels around us were firing Katyushas at the town’s edges from multiple rocket launchers, and Qaddafi’s men were firing back, “walking” the artillery shells close to the rebel positions.

Energy

Obama Considers Tapping Oil Reserves (jdargis)

Administration officials have sent mixed signals about the possibility of opening the reserve, which would add supply to the domestic oil market and tend to push down prices.

Energy Secretary Steven Chu said on Friday that the administration was monitoring prices, but he has been reluctant to endorse more aggressive steps.

Tech Talk - Countries producing around 2 mbd - Nigeria, Angola, Libya and the UK (pinecarr)

The growing concerns about the stability of the countries of the Middle East and North Africa (MENA), because they make significant contributions to world oil supply, adds additional meaning to these weekly posts on the world’s major oil producers.

The Two Most Important Charts For The Near-Term Future Of Oil Prices (pinecarr)

On one hand, the Crude Oil non-commercial net specs are at an all time high: well over 100% more than during the oil time highs in crude in 2008. This means that speculators are anticipating an even more powerful move higher than that seen in the summer of 2008 when Crude hit $150 (it also presents the possibility of an unprecedented plunge in oil should the speculative thesis not be realized).

Just as important, the performance of energy as a subsegment of all commodities is currently materially underperforming all other commodities, with Previous, Agircultural and Industrial commodity classes all doing far better than crude and its peers. Should there be a rotation out of other commodities into the energy complex, look for crude to surge far beyond $125 in the next few weeks. All it would take is one Saudi geopolitical spark.

Environment

In New Food Culture, a Young Generation of Farmers Emerges (jdargis)

Now, Mr. Jones, 30, and his wife, Alicia, 27, are among an emerging group of people in their 20s and 30s who have chosen farming as a career. Many shun industrial, mechanized farming and list punk rock, Karl Marx and the food journalist Michael Pollan as their influences. The Joneses say they and their peers are succeeding because of Oregon’s farmer-foodie culture, which demands grass-fed and pasture-raised meats.

“People want to connect more than they can at their grocery store,” Ms. Jones said. “We had a couple who came down from Portland and asked if they could collect their own eggs. We said, ‘O.K., sure.’ They want to trust their producer, because there’s so little trust in food these days.”

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."

11 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4149
1) Tight Budgets Mean

"Millions of public school students across the nation are seeing their class sizes swell because of budget cuts and teacher layoffs, undermining a decades-long push by parents, administrators and policy makers to shrink class sizes.

Over the past two years, California, Georgia, Nevada, Ohio, Utah and Wisconsin have loosened legal restrictions on class size. And Idaho and Texas are debating whether to fit more students in classrooms.

Los Angeles has increased the average size of its ninth-grade English and math classes to 34 from 20. Eleventh- and 12th-grade classes in those two subjects have risen, on average, to 43 students.

“Because many states are facing serious budget gaps, we’ll see more increases this fall,” said Marguerite Roza, a University of Washington professor who has studied the recession’s impact on schools. "

"Federal Reserve Bank of Atlanta President Dennis Lockhart said the central bank shouldn’t rule out asset purchases beyond the $600 billion planned by June because the U.S. economy could slow again. "

...................2A) Fed must be flexible given oil prices, Lockhart says

"On-Sale: The United States Mint is currently scheduled to release the 2011 American Eagle Silver Silver Uncirculated Coins in the early fall. Please continue to check our schedule product listing page for any additional updates."

.....................3A) American Eagle Gold Uncirculated Coins ("91.67% Gold, 3.0% Silver, Balance Copper")

  • Other news, headlines and opinion:

 

Rating agency R&I: May cut Japan rating before April

Greece Debt Cut Three Steps by Moody's on Default Risk

Portugal Bonds Lead Drop Amid Concern Debt Crisis May Intensify

California to cancel sale of transportation bonds, work near 85-101, on I-880 and I-580 face delays

Wave of retiring teachers threatens to swamp CalSTRS reserves

InformedCitizenNews (Video....Chris Martenson mentioned in their news...inflation)

thc0655's picture
thc0655
Status: Diamond Member (Offline)
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Posts: 1617
Camden, NJ - increasing violence

One can look at crime stats (just like inflation stats!) and not get the whole picture.  The article on Camden's laid off police illustrates just two of the issues one needs to examine to get to the "real" picture.  The NYT article states it's unknown yet whether laying off 46% of Camden's police has impacted crime. The writer then points out the City has had 2 fewer murders since the beginning of the year (compared to the same period last year), but there has been a dramatic surge in shootings (79 so far this year, 22 last year).  When looking at murder statistics one has to remember how doctors and nurses get better and better every year saving the lives of shooting victims.  A college professor looking at the homicide stats in her class at Ohio State would have a very different perspective on crime in Camden this year than would the emergency room staff at Cooper General Hospital and the residents of Camden (who are both having to cope with the dramatically higher number of shootings).  Second, the more police are overwhelmed the more discouraged citizens get. When the discouragement gets bad enough people stop reporting crimes because they don't believe there will be anything positive in it for them or their neighbors. Making a report is often seen as a waste of time, on top of being victimized.  Stats for crimes people will report less (theft from auto, vandalism, simple assault, burglary, etc.) may actually go DOWN in Camden with fewer police. That professor at Ohio State may then write an article or book using Camden's experience to advocate cutting all police departments in half (save tax money, crime goes down anyway)!!  There's more where that came from...  By the way, what do the crime stats say about crime trends where you live?

msnrochny's picture
msnrochny
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Posts: 58
Great Article on Depleting Water Resources and Greed Behind It

http://www.telegraph.co.uk/earth/8359076/US-farmers-fear-the-return-of-the-Dust-Bowl.html

 

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4149
  Government posts biggest

 

"The federal government posted its largest monthly deficit in history in February at $223 billion, according to preliminary numbers the Congressional Budget Office released Monday morning.

That figure tops last February’s record of $220.9 billion, and marks the 29th straight month the government has run in the red — a modern record. The last time the federal government posted even a monthly surplus was September 2008, just before the financial collapse.

Last month’s federal deficit is nearly four times as large as the spending cuts House Republicans have passed in their spending bill, and is more than 30 times the size of Senate Democrats’ opening bid of $6 billion."

hardingcrew's picture
hardingcrew
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Posts: 13
Damnthematrix's picture
Damnthematrix
Status: Diamond Member (Offline)
Joined: Aug 10 2008
Posts: 3998
the power of Corporations

The story of stuff people have made a video on the power of Corporations.....  MUST WATCH!

 

http://www.youtube.com/watch?feature=player_embedded&v=k5kHACjrdEY

Damnthematrix's picture
Damnthematrix
Status: Diamond Member (Offline)
Joined: Aug 10 2008
Posts: 3998
This interesting comment on

This interesting comment on saudi arabia was written just hours ago by a blogger
called "writerman":

"Saudi Arabia will not survive in its present form as the only island of
absolute despotism in the Middle East. The people's revolution is coming to
Saudi Arabia too. This revolution is an absolute necessity because Saudi Arabia
has to sweep the entire old order away as quickly as possible, for multiple
reasons. The chief among them is the regimes mismanagement of the country's oil
reserves, and the grostesque squandering of the revenues.

Put simply the Saudies have pumped too much oil, too quickly, too cheaply for
decades, and now they have damanged some of their oil-fields and pressure is
dropping, leading to them having to pump millions of litres of water into the
fields in an attempt to keep pressure and the flow of oil from collapsing. But
this isn't unproblematic in itself.

Now they've accesed nearly all the best quality oil, the easiest oil, and what's
left in more expensive to refine, of less value, and far dirtier and heavier.
Not only that they have been desparately trying to find new sources of oil, but
have failed spectacularly, despite collosal efforts.

The reason they are so desparate to find more oil is because the regime has
sytematically exaggerated and hidden the true situation regarding their "proven"
reserves. The true situation is that they have less than half, less than 50%,
than they claim. Half of Saudi Arabia's oil bounty is gone. This fact is going
to have enormous repercussions inside and outside Saudi Arabia, the regime will
fall for certain, and the rest of the world will have to learn to wave goodbye
to the age of oil."

its a comment from today's article by robert fisk in the uk's 'independent'
newspaper:
http://blogs.independent.co.uk/2011/03/07/will-saudi-be-the-next-to-rise-up/

pinecarr's picture
pinecarr
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Posts: 2245
DTM, that is some chilling

DTM, that is some chilling information if the blogger  'writerman" is right.  I think I'll print  that out and put it somewhere I'll see it often, to give myself a kick-in-butt to put things in higher gear!

Thanks for sharing.

Damnthematrix's picture
Damnthematrix
Status: Diamond Member (Offline)
Joined: Aug 10 2008
Posts: 3998
America's Secret Plan to Arm Libya's Rebels

http://www.informationclearinghouse.info/article27626.htm

America's Secret Plan to Arm Libya's Rebels

Obama asks Saudis to airlift weapons into Benghazi

By Robert Fisk

March 07, 2011 "The Independent" -- Desperate to avoid US military involvement in Libya in the event of a prolonged struggle between the Gaddafi regime and its opponents, the Americans have asked Saudi Arabia if it can supply weapons to the rebels in Benghazi. The Saudi Kingdom, already facing a "day of rage" from its 10 per cent Shia Muslim community on Friday, with a ban on all demonstrations, has so far failed to respond to Washington's highly classified request, although King Abdullah personally loathes the Libyan leader, who tried to assassinate him just over a year ago.

Washington's request is in line with other US military co-operation with the Saudis. The royal family in Jeddah, which was deeply involved in the Contra scandal during the Reagan administration, gave immediate support to American efforts to arm guerrillas fighting the Soviet army in Afghanistan in 1980 and later – to America's chagrin – also funded and armed the Taliban.

But the Saudis remain the only US Arab ally strategically placed and capable of furnishing weapons to the guerrillas of Libya. Their assistance would allow Washington to disclaim any military involvement in the supply chain – even though the arms would be American and paid for by the Saudis.

The Saudis have been told that opponents of Gaddafi need anti-tank rockets and mortars as a first priority to hold off attacks by Gaddafi's armour, and ground-to-air missiles to shoot down his fighter-bombers.

Damnthematrix's picture
Damnthematrix
Status: Diamond Member (Offline)
Joined: Aug 10 2008
Posts: 3998
Getting fed up with QE

http://www.businessspectator.com.au/bs.nsf/Article/Trichet-Bernanke-EBC-interest-rates-pd20110308-EQSTT?OpenDocument&src=kgb

Getting fed up with QE

Karen Maley

Published 8:57 AM, 8 Mar 2011 Last update 10:25 AM, 8 Mar 2011



The head of the European Central Bank, Jean-Claude Trichet, has warned that global interest rates could move sharply higher and dent economic activity if investors lose confidence in the determination of central banks to tackle inflation.

Trichet’s warning comes at a time when many believe that the US central bank is fuelling global inflation by doggedly persisting with ultra-loose monetary policy. They fear that the US central bank risks losing credibility with investors unless it starts tightening monetary policy within the next few months.

Once investors became convinced that there was a serious risk of an inflationary outbreak in the US, they would sell off US bonds, which would push up US interest rates and leave US companies and consumers saddled with higher borrowing costs.

Trichet, however, was careful not to give the impression that he was directly rebuking US Federal Reserve boss, Ben Bernanke. Asked whether the US central bank was in danger of keeping interest rates too low for too long, Trichet claimed there was a “solid unity of purpose among central bankers to continue to anchor solidly inflation expectations.” But, he added, “this doesn't mean that we take the same decisions."

Wendy S. Delmater's picture
Wendy S. Delmater
Status: Diamond Member (Offline)
Joined: Dec 13 2009
Posts: 1988
During this period the

in responw\se to thc's question, 'So how are crime stats in your are?" I looked them up.

During this period the popultion here in Lexingtopn SC went up 198%. I think a well-armed populace has something to do with the downward trend.

 

 

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