Daily Digest

Daily Digest 4/22 - Geithner Says Europe Must Be Creative, Why The Euro Isn't Worth Saving, Seafood Ban Angers Fishermen

Sunday, April 22, 2012, 9:40 AM
  • Dutch Austerity Talks Fail as Geithner Prods Europe
  • Geithner Says Europe Must Be Creative, Aggressive in Crisis
  • Chris Martenson And Harvey Organ: Get Physical Gold & Silver
  • Consumer Spending Probably Paced Growth: U.S. Economy Preview
  • Why The Euro Isn't Worth Saving
  • A Ban on Some Seafood Has Fishermen Fuming

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Economy

Dutch Austerity Talks Fail as Geithner Prods Europe (jdargis)

“The success of the next phase of the crisis response will hinge on Europe’s willingness and ability, together with the European Central Bank, to apply its tools and processes creatively, flexibly and aggressively to support countries as they implement reforms and stay ahead of markets,” he said Saturday.

Geithner Says Europe Must Be Creative, Aggressive in Crisis (jdargis)

While cautioning Europe to stay vigilant, Geithner was less pessimistic than when he warned the IMF in September to intensify its efforts to avoid the “threat of cascading default, bank runs and catastrophic risk.”

Chris Martenson And Harvey Organ: Get Physical Gold & Silver (jdargis)

Harvey Organ has been analyzing the bullion markets closely for decades. The quality and accuracy of his work is respected enough to have earned him an invitation to testify before the CFTC on position limits for precious metals back in 2010.

And he minces no words: gold and silver prices are suppressed. With extreme prejudice.

Consumer Spending Probably Paced Growth: U.S. Economy Preview (jdargis)

The economy needs to expand at a faster pace to drive down unemployment and generate bigger job gains, Fed Chairman Ben S. Bernanke said in a speech on March 26. Federal Open Market Committee members begin a two-day meeting on April 24.

Why The Euro Isn't Worth Saving (jdargis)

Which brings us back to our original question: How big should Spain's surpluses have been during its housing bubble days? In retrospect, they should have been huge. The logic is that less government spending would have helped cool its overheated economy. The bubble might not have been quite as bad. But only quite. And, again, this was necessary because of the euro. Spain couldn't just raise interest rates to slow down its economy because Spain couldn't raise interest rates.

Environment

A Ban on Some Seafood Has Fishermen Fuming (jdargis)

“Stewardship of the ocean is so important to our customers and to us,” said David Pilat, the global seafood buyer for Whole Foods. “We’re not necessarily here to tell fishermen how to fish, but on a species like Atlantic cod, we are out there actively saying, ‘For Whole Foods Market to buy your cod, the rating has to be favorable.’ ”

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5 Comments

DavidC's picture
DavidC
Status: Silver Member (Offline)
Joined: Sep 29 2008
Posts: 243
Geithner

I was out with some friends for a Sunday late breakfast today and talking with them about the economy, gold and silver and the Fed (well, I'm not interested in football!).

I mentioned Geithner's trip to China a couple of years ago where he was laughed at by a lecture room full of Chinese students as he was talking about the USA's committment to a strong dollar.And here he is, now, telling Europe what to do.

I'm not one generally for strong language so, suffice it to say, I wish he would crawl into a corner and just shut up.

DavidC

Bill Hicks's picture
Bill Hicks
Status: Bronze Member (Offline)
Joined: Jul 3 2011
Posts: 34
USDA Lays Off 1,000 Poultry Inspectors-Industry To Self Regulate

billhicksisdead.blogspot.com/2012/04/usda-to-lay-off-1000-inspectors-let.html 

Salmonella, anyone?

As early as next week, the government will end debate on a cost-cutting, modernization proposal it hopes to fully implement by the end of the year. A plan that is setting off alarm bells among food science watchdogs because it turns over most of the chicken inspection duties to the companies that produce the birds for sale.
 
The USDA hopes to save $85 million over three years by laying off 1,000 government inspectors and turning over their duties to company monitors who will staff the poultry processing lines in plants across the country.
DavidC's picture
DavidC
Status: Silver Member (Offline)
Joined: Sep 29 2008
Posts: 243
Bill, I prefer the fish

Bill,

I prefer the fish dish, Pseudomonas!

DavidC

Doug's picture
Doug
Status: Diamond Member (Offline)
Joined: Oct 1 2008
Posts: 3125
Troubling news

 

http://www.zerohedge.com/news/israels-key-energy-provider-egypt-cuts-all-gas-supplies

Quote:

Egypt just announced that it is cutting off its natural gas supplies to Israel, which just so happens relies on Egypt for 40% of its energy needs.

 

 

 

 

es2's picture
es2
Status: Bronze Member (Offline)
Joined: Dec 31 2010
Posts: 68
The case against Lehman Brothers (60 Minutes)

The case against Lehman Brothers

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