Daily Digest

Daily Digest 5/12 - A New Housing Market Scam, Solar Haiti, Methane In Well Water Near Gas Drilling Sites

Thursday, May 12, 2011, 9:32 AM
  • FSN In Depth: Chris Martenson, The Crash Course
  • 'Flopping' - A New Type Of Scam In The Housing Market
  • Isn't Economics Fun (If You're an IBank)
  • Bank of England Inflation Report: Mervyn King Set To Slash UK Growth Forecasts
  • Solar Haiti
  • Duke Study Finds Methane In Well Water Near Gas Drilling Sites
  • Japan Nuclear Power Expansion Plans Abandoned
  • Water - It's Not Just For Drinking Anymore
  • Weather, Economy, Industry Changes Strain Area Food Banks

Our 'What Should I Do?' guide has steps to cook, see & stay warm in times of power outage

Economy

FSN In Depth: Chris Martenson, The Crash Course (pinecarr)

This book is written for those who are motivated to learn about the root causes of our predicaments, protect themselves and their families, mitigate risks as much as possible, and control what effects they can. With challenge comes opportunity, and The Crash Course offers a positive vision for how to reshape our lives to be more balanced, resilient, and sustainable.

'Flopping' - A New Type Of Scam In The Housing Market (June C.)

Here's how it works: A real estate agent or broker identifies properties with severely depressed values. These could be properties with mortgages that exceed the present values or they could be short sales or foreclosures.

A property is valued using a "broker price opinion." The broker's "opinion" is a low-ball price, because his intention is to profit from a quick resale for a higher price.

Isn't Economics Fun (If You're an IBank) (Ilene)

When you wonder what kind if idiots would be buying 10-year notes at 3% when a gallon of gas was $1.40 ten years ago and now $4 - that idiot is you. Originally, that idiot was a bank but banks aren't allowed to lose money in America - that's what taxpayers are for! What the Fed does, on your behalf, is to buy all those notes from the Banksters at face value - because if they tried to sell them on the open market they'd never get it.

Bank of England Inflation Report: Mervyn King Set To Slash UK Growth Forecasts (pinecarr)

Bank report will raise concerns over the strength of the UK economy as it enters the age of austerity.

Energy

Solar Haiti (JRB)

Six trailers containing modular photovoltaic generating systems are about to be shipped from a location on Long Island, N.Y., to the southern coast of earthquake-ravaged Haiti, where they will be transported by truck to a town for a week of training and then to villages.

Duke Study Finds Methane In Well Water Near Gas Drilling Sites (June C.)

Of 60 wells that the researchers tested for methane in northeastern Pennsylvania and New York, they found the gas in 85 percent.

Japan Nuclear Power Expansion Plans Abandoned (pinecarr)

Prime minister Naoto Kan says renewables will become a key part of energy policy as country marks two months since tsunami.

Environment

Water - It's Not Just For Drinking Anymore (Claire H.)

"We are actively dealing with the government of Alberta to think about a water exchange," Brabeck said.

As a first step, he added, Alberta had separated land rights and water rights, so owning land did not automatically give rights to water that ran through it.

Weather, Economy, Industry Changes Strain Area Food Banks (June C.)

"There's just this sense of frustration we're feeling," said Bill Clark, executive director of Philabundance, which has seen a 30 percent spike in people needing food since last year and more than 60 percent over two years.

Globally, storms, drought, unpredictable temperatures, as well as high volumes of rain in various growing areas have played havoc with crops.

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."

3 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4060
Treasury Auctions To Take US Over Debt Ceiling On Monday

"WASHINGTON -(Dow Jones)- The Treasury Department auctioned $56 billion in new debt Tuesday and Wednesday, enough to take the U.S. over its federal debt ceiling when the three- and 10-year notes settle on Monday.

Treasury officials last month flagged May 16 as the day the government would hit the $14.294 trillion debt limit.

The U.S. is selling $72 billion in new debt over three days this week. The Treasury auctioned $32 billion in three-year notes Tuesday and $24 billion in 10-year notes Wednesday, and will sell $16 billion in 30-year bonds Thursday. All of the auctions will settle Monday.

As of Tuesday, total debt subject to the limit was $14.274 trillion, according to the Treasury Department."

.......................1A) Bernanke: System unstable if debt limit not lifted

"The House Armed Services Committee was to meet Wednesday to consider legislation that would provide $553 billion for the Defense Department, an increase over the $513 billion the Pentagon is getting this year. The proposed budget adds $118 billion for the wars in Iraq and Afghanistan.

Obama envisions cuts of $400 billion in defense over the next 12 years as the nation faces a fast-growing deficit."

  • Headlines:

Canada Flaherty Says US Needs 'Clear Plan' On Deficit

Fed Lockhart: Rising Inflation Concern, But Should Recede

Debt crisis could still spread to EU core-IMF

EU Juncker: Greek Restructuring Would Be A Catastrophe

EU's Rehn Warns on Impact of Greek Restructuring

Greek Restructuring Would Be 'Huge Mistake,' Ackermann Says

Portugal Could Face Rating Downgrade Because of Banks, S&P Says

Portuguese Austerity May Mean Greek-Like Recession: Euro Credit

US will drive less this summer: IEA

Japan delays unveiling of Tepco compensation scheme: PM

Japanese Sold Net 715.6 Billion Yen Overseas Debt Last Week

Charlotte school district issues layoff notices to 739 employees

San Jose Wrestles With 90% Pensions as Costs Force 370 Firings

U.S. wholesale prices climb 0.8% in April

Sacramento faces $4.4 million in cuts to city parks

Memphis City Council debates job cuts, tax increase to plug $60 million deficit

Houston city workers being laid off

Merced County Jail may shutdown ("hundreds of low-level inmates could be released early")

Public pensions in RI to cost taxpayers $266 million more

Commodities Extend Declines as China Raises Reserve Requirement

Shanghai in third silver margin hike in month

China Inflation Spreading Beyond Food Shows Wen to Persist With Tightening

Foreclosure Filings Drop to 40-Month Low as U.S. Lenders Delay Processing

Massive Backlog Freezes Foreclosures

Tall's picture
Tall
Status: Platinum Member (Offline)
Joined: Feb 18 2010
Posts: 564
Bin Laden’s Death Won’t End Toll on Taxpayers

Even in death, Osama bin Laden will be taking revenge on American taxpayers for years to come.

The U.S. government spent $2 trillion combating bin Laden over the past decade, more than 20 percent of the nation’s $9.68 trillion public debt. That money paid for wars in Afghanistan and Iraq, as well as additional military, intelligence and homeland security spending above pre-Sept. 11 trends, according to a Bloomberg analysis.

This year alone, taxpayers are spending more than $45 billion in interest on the money borrowed to battle al-Qaeda, the analysis shows.

The financial bleeding won’t stop with bin Laden’s demise. One of every four dollars in red ink the U.S. expects to incur in the fiscal year beginning Oct. 1 will result from $285 billion in annual spending triggered by the terrorist scion of a wealthy Saudi family.

http://www.bloomberg.com/news/2011-05-12/bin-laden-s-death-won-t-end-toll-on-taxpayers.html

 

elsur's picture
elsur
Status: Bronze Member (Offline)
Joined: Sep 10 2008
Posts: 49
Photos of the Fukushima Power Plant

Here's a link to photos of the Fukushima power plant.  It looks very dismal...  Not sure when the pics were taken.

http://www.flickr.com/photos/xtcbz/sets/72157626687253144/show/

Elsur

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