Daily Digest

Daily Digest 5/25 - Bear In A China Shop, Gas Prices Lower Slightly, One Year Since Joplin Tornado

Friday, May 25, 2012, 10:46 AM
  • Eurobonds: The Issue That Could Shatter Europe
  • Lunch with Paul Krugman
  • Counting Under Way In Egypt Presidential Poll
  • Bear In A China Shop
  • Gas Prices Modestly Lower as Driving Season Starts
  • New Directions for North American Energy Infrastructure
  • Mother Of God, Child Of Zeus
  • One Year Since The Joplin Tornado

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

Economy

Eurobonds: The Issue That Could Shatter Europe (David B.)

If you had some relatives that were spending wildly and that had already run up $100,000 in credit card debt, would you be a co-signer on their next credit card application?

Lunch with Paul Krugman (James S.)

Paul went for the lobster salad with hearts of palm and the soft shell crab with bacon. I settled for the Dungeness crab salad with quinoa and quail stuffed with foie gras. We washed it down with an excellent 2008 Duckhorn cabernet called "The Discussion". I kidded him about recent articles in the press that described him as the "Mick Jagger of economics".

Counting Under Way In Egypt Presidential Poll (jdargis)

Turnout appeared to vary across the country on Thursday, with long queues outside some polling stations, and scant participation in others.

Mohammed Ibrahim, Egypt's interior minister, said security forces had reported only "minor violations".

Bear In A China Shop (jdargis)

No question, China has many problems. Years of one-sided investment-driven growth have created obvious excesses and overcapacity. A weaker global economy since the 2008 financial crisis and rapidly rising labor cost at home have slowed China's vaunted export machine. Meanwhile, a massive housing bubble is slowly deflating, and the latest economic data is discouraging. Real growth in GDP slowed to an annualized rate of less than 7 percent in the first quarter of 2012, and April saw a sharp slowdown in industrial output, electricity production, bank lending, and property transactions. Is China's legendary economy in serious trouble?

Gas Prices Modestly Lower as Driving Season Starts (jdargis)

“Drivers are getting a respite,” said Rodney L. Waller, a senior vice president at Range Resources, an oil and gas company based in Fort Worth. “But it’s a tenuous respite based on all the changes in the global oil market and the opening and closings of refineries across the U.S.”

New Directions for North American Energy Infrastructure (James S.)

Voser is correct in his assumption that more and more transportation options will rely on NatGas as we move forward. The largest annual trucking show in North America, the Mid-America Trucking Show, was held in Louisville Kentucky in March and featured a panel discussion on NatGas in trucking featuring famed petroleum investor T. Boone Pickens. The Conference Board of Canada reported in an April research paper that making the switch to NatGas from diesel would be a fixed cost of roughly $80,000 CDN per vehicle, but would save about $15,000 CDN per year over a 10-year period. Although North American NatGas refuelling infrastructure is not as mature as it needs to be to trigger a large-scale shift, change is coming.

Mother Of God, Child Of Zeus (jdargis)

In the earliest days of history, the eternal shine of gold marked it as a link to the gods, and its possession by a human seemed proof of that human’s blessedness. But since the time of the first coins 2,500 years ago, the security it offered evolved from the spiritual to the earthly, from assuring a wealthy hereafter to assuring a wealthy here and now. Economic instability isn’t the only thing driving up the price of gold in the twenty-first century. Its unparalleled resistance to corrosion and tarnish makes it a useful conductor of low-voltage electricity and a component of nearly every consumer and industrial electrical device.

One Year Since The Joplin Tornado (jdargis)

One year ago, the small town of Joplin, Missouri, was devastated by an EF5 Tornado. A mile-wide multiple-vortex tornado, with estimated winds peaking at 362 to 402 km/h (225 to 250 mph), tore through the area on May 22, destroying more than 7,000 houses, killing 161 people, and injuring hundreds more. The task of rebuilding is underway, but the scale is daunting -- a year later, Joplin still has an eight-mile scar running through its middle. Gathered here are images of the town on this somber anniversary.

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."

10 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
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Posts: 4145
rjs's picture
rjs
Status: Gold Member (Offline)
Joined: Aug 8 2009
Posts: 445
who's in charge at JPMorgan?

JPMorgan Gave Risk Oversight to Museum Head - The three directors who oversee risk at JPMorgan Chase & Co. (JPM) include a museum head who sat on American International Group Inc.’s governance committee in 2008, the grandson of a billionaire and the chief executive officer of a company that makes flight controls and work boots.  What the risk committee of the biggest U.S. lender lacks, and what the five next largest competitors have, are directors who worked at a bank or as financial risk managers. The only member with any Wall Street experience, James Crown, hasn’t been employed in the industry for more than 25 years.

littlefeatfan's picture
littlefeatfan
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More 3E related Links, Resources and Cartoons

 New weekly post at  http://3es.weebly.com/ 

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rjs
Status: Gold Member (Offline)
Joined: Aug 8 2009
Posts: 445
Planet On Track For 11°F Warming

IEA: Global CO2 Emissions Hit New Record In 2011, Keeping World On Track For ‘Devastating’ 11°F Warming -  First the bad news from the International Energy Agency (IEA). Thanks to a huge jump in Chinese emissions, “global carbon-dioxide (CO2) emissions from fossil-fuel combustion reached a record high of 31.6 gigatonnes (Gt) in 2011.” The worse news is that, “The new data provide further evidence that the door to a 2°C trajectory is about to close,” according to IEA Chief Economist Fatih Birol. Why does that matter? As Reuters reported: Scientists say ensuring global average temperatures this century do not rise more than 2 degrees Celsius above pre-industrial levels is needed to limit devastating climate effects like crop failure and melting glaciers. (see “James Hansen Is Correct About Catastrophic Projections For U.S. Drought If We Don’t Act Now“). And the worst news, as Birol told Reuters, is that: “When I look at this data, the trend is perfectly in line with a temperature increase of 6 degrees Celsius [11°F], which would have devastating consequences for the planet.”

 

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
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Arthur Robey's picture
Arthur Robey
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Posts: 3936
Rotten egg gas.

In the late Archaean eon an oxygen-containing atmosphere began to develop,

http://en.wikipedia.org/wiki/Earth%27s_atmosphere

It was only late in the archaen that the atmosphere that we know and love developed. It was only then that oxygen developed.

The Earth has had a battle between the oxygen loving biosphere and it's alien twin the anoxic biosphere.

Botulin is an anoxic survivor. It is from botulin that we get botox.

One of the symptoms of a flip into the anoxic regime is the release of vast clouds of sulphur dioxide (rotten egg gas) from the metabolic by-products of anoxic organisms. There is a fossilised forest off the coast of spain that was killed off by such an out-gassing, and was subsequently washed into the sea.

There is precident.

I am writing a Science fiction novel about such an event that wipes all oxygen loving organisms off the face of the planet.
All is not lost however. All of the oxygen breathers have escaped into the cosmos. (The Rapture, anyone?)
I write every night.

Last night one of my protagonists finds a little girl and decides not to eat her. He might get hungry later. A big mistake. But he was not going to make it into manhood anyway.

Damnthematrix's picture
Damnthematrix
Status: Diamond Member (Offline)
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Posts: 3998
Huh?
Arthur Robey wrote:

 

Last night one of my protagonists finds a little girl and decides not to eat her. He might get hungry later. A big mistake. But he was not going to make it into manhood anyway.

Whatever you're smokin' Arthur, I want some........

idoctor's picture
idoctor
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Posts: 1731
One Year Since The Joplin

One Year Since The Joplin Tornado (jdargis)

One year ago, the small town of Joplin, Missouri, was devastated by an EF5 Tornado. A mile-wide multiple-vortex tornado, with estimated winds peaking at 362 to 402 km/h (225 to 250 mph), tore through the area on May 22, destroying more than 7,000 houses, killing 161 people, and injuring hundreds more. The task of rebuilding is underway, but the scale is daunting -- a year later, Joplin still has an eight-mile scar running through its middle. Gathered here are images of the town on this somber anniversary.

jdargis thanks for remembering us here in Joplin. It has been one hell of a year & things will never be the same here. I was caught dead center by the funnel right across from the hospital where it was a full blown EF5. Still wonder how I lived & so many died all around me. I thought the pressure alone was going to kill us let alone all the debris that clobbered us. It looked like Hiroshima when it was over. The eye of this tornado was huge. It was very calm in the eye which lasted for 10 to 15 seconds giving me the chance to glance up into it. Amazing how calm the center was.....the longest 15 seconds of my life. Changed my life forever.

KennethPollinger's picture
KennethPollinger
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Posts: 654
Aftershock by Wiedemers, backs Chris

 REALLY great book that adds much needed background to the EEE Community's Perspective.

Solid analysis and makes the BEST case for gold that I have seen in over 15 books.

Chris.  Please interview the authors.  See chp 7 and the rationale for loading up on gold,

and if doesn't convince folks, nothing will, except the actual collapse itself.

AFTERSHOCK, by David and Robert Wiedemer (Revised and Updated)

Enjoy

 

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4145
Receipts will skyrocket next year

 

Please click on "table 1.1". Look at  the "Receipts" column on the far left. Look at the historic numbers and then notice 2012, 2013, 2014....Maybe I should have posted this in the humor section of our forum.

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