Daily Digest

Daily Digest 5/6 - Grads Flock To Unpaid Internships, Last Nuclear Reactor In Japan Shut Down, More On Hydrofracking

Sunday, May 6, 2012, 10:47 AM
  • Infographic: America's Not-So-Proud Tradition of Government Corruption
  • In Elections, Greeks Are Expected to Make Old Guard Pay for Turmoil
  • Job Numbers Become Instant Campaign Fodder
  • Honey, I Got A Year's Worth Of Tuna Fish
  • Jobs Few, Grads Flock to Unpaid Internships
  • Amid Brazil’s Rush to Develop, Workers Resist
  • Last Reactor of 50 in Japan Is Shut Down
  • More On Hydraulic Fracturing

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Economy

Infographic: America's Not-So-Proud Tradition of Government Corruption (jdargis)

Government corruption doesn't only affect developing nations with long histories of dysfunction; it happens in nearly every American state (and, famously, the District of Columbia). From perjury and tax evasion to outright bribery, corruption has taken down thousands of elected officials over the past 35 years. Which states are home to the most convictions for government corruption?

In Elections, Greeks Are Expected to Make Old Guard Pay for Turmoil (jdargis)

“It’s the end of an era. A discredited political system and its contract with society are coming to an end,” said Stavros Lygeros, a political commentator and the author of “From Kleptocracy to Bankruptcy,” about Greece’s economic collapse. “The problem is that there is nothing to replace it. The old order is dying, but the new one has not yet been born.”

Job Numbers Become Instant Campaign Fodder (jdargis)

The president has doggedly pushed piecemeal proposals that he says will improve the lives of middle-income Americans — from hiring teachers and firefighters to streamlining the refinancing of home mortgages — as a way to revive the broader job market in the face of a hostile Congress. Mr. Romney has tried to keep the focus on the big picture — one that he contends reveals a president who has failed as a custodian of the economy.

Honey, I Got A Year's Worth Of Tuna Fish (jdargis)

For “couponers,” as they call themselves, free product is the holy grail. Freebies are obtained by combining various promotions in ways that can seem laborious and arcane to the civilian shopper: waiting for items to go on sale and then using coupons to buy them; “stacking” manufacturers’ coupons with store coupons; shopping during “double coupon” days; or receiving, post-purchase, a “catalina” — a coupon from a company called Catalina Marketing that can be redeemed on a future transaction. These little papers, which are spit out by a mini-printer that sits near the register and look like run-of-the-mill receipts, usually meet an unceremonious end in the graveyards of shoppers’ pockets and purses, but couponers regard them as cash.

Jobs Few, Grads Flock to Unpaid Internships (jdargis)

The Labor Department says that if employers do not want to pay their interns, the internships must resemble vocational education, the interns must work under close supervision, their work cannot be used as a substitute for regular employees and their work cannot be of immediate benefit to the employer.

Energy

Amid Brazil’s Rush to Develop, Workers Resist (jdargis)

“No one burns anything if they’re satisfied,” said Altair Donizete de Oliveira, a union leader here in Brazil’s western frontier. He listed salaries, cramped living quarters and requests for more home visits among the grievances that were contributing to the festering tension among the laborers, who number in the tens of thousands at various work sites in the Amazon.

Last Reactor of 50 in Japan Is Shut Down (jdargis)

Desperate to avert possible power shortages this summer, the government has tried to convince the public to allow some of the reactors to be restarted. It has conducted simulated stress tests to show whether reactors can withstand the sort of immense earthquake and tsunami that knocked out the Fukushima Daiichi plant.

More On Hydraulic Fracturing (Ernest W.)

There is a real, practical limit to the amount of oil that can be recovered from a reservoir. Depending on the availability and economic viability of different technical approaches that limit might be less than 25% of the total volume of oil originally in place, or it can be more than 50%, as has been achieved in some of the fields in the Kingdom of Saudi Arabia(KSA). Ernest W

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12 Comments

Arthur Robey's picture
Arthur Robey
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Shah Gilani is nervous

Shah Gilani is nervous.

And this one really worries me… Why was Ben Bernanke in China with Tim Geithner and Hillary Clinton? That trio doing a road trip is unprecedented. Something is happening, or about to happen, that the U.S. and Chinese economic powers are very, very worried about.

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Mirv
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Last Reactor of 50 in Japan Is Shut Down

This very terse article about shutting the last nuclear reactor and the summary of it are both misleading in a very interesting (albeit not intentional) way.  The article says "the government has tried to convince the public to allow some of the reactors to be restarted."  This is not exactly right.  The NATIONAL government/gangster cartel that runs the national tax and control system (and which brought the ruinious WWII debacle to the people, who have a memory of that national fascist government) wants to restart the nuclear plants on behalf of their corrupt, well heeled nuclear friends.  The LOCAL governments (eg. mayor of Osaka, mayor of Tokyo)  who represent the people and have the support of the people, refuse.  This difference is very interesting and auspicious for what it means as a new trend.  The future paradigm, which is expected to replace the present crumbling centrally controlled economic system, would be local governance by managers who are closer to the people and local production of food and energy.  Perhaps this is beginning to take place in Japan.  This is a more interesting message from the nuclear energy disaster news from Japan.  A very similar thing (local government protection of the people against acts of a national government) happened when the NATIONAL government tried to give each citizen an ID number (social security number) 10 years ago so that they could more easily monitor everyone (like they used to do during WWII) but did not succeed because the LOCAL governments stood up for the people and refused on their behalf. These trends exist and are good news.   In this context, I am proud to point out that the Virginia legislature has formally declared that its police force will NOT cooperate with the US national military in attacking US citizens inside Virgina under the new US national government military/police powers from the NDAA signed by Obama last year.

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KugsCheese
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Elections

Sarkozy is out,  Greek leftists parties win, and Merkel coaliton loses.  What will happen in Europe now or is it already a puppet show run by the banks?

KugsCheese's picture
KugsCheese
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Re: Last Reactor of 50 in Japan Is Shut Down
Mirv wrote:

This very terse article about shutting the last nuclear reactor and the summary of it are both misleading in a very interesting (albeit not intentional) way.  The article says "the government has tried to convince the public to allow some of the reactors to be restarted."  This is not exactly right.  The NATIONAL government/gangster cartel that runs the national tax and control system (and which brought the ruinious WWII debacle to the people, who have a memory of that national fascist government) wants to restart the nuclear plants on behalf of their corrupt, well heeled nuclear friends.  The LOCAL governments (eg. mayor of Osaka, mayor of Tokyo)  who represent the people and have the support of the people, refuse.  This difference is very interesting and auspicious for what it means as a new trend.  The future paradigm, which is expected to replace the present crumbling centrally controlled economic system, would be local governance by managers who are closer to the people and local production of food and energy.  Perhaps this is beginning to take place in Japan.  This is a more interesting message from the nuclear energy disaster news from Japan.  A very similar thing (local government protection of the people against acts of a national government) happened when the NATIONAL government tried to give each citizen an ID number (social security number) 10 years ago so that they could more easily monitor everyone (like they used to do during WWII) but did not succeed because the LOCAL governments stood up for the people and refused on their behalf. These trends exist and are good news.   In this context, I am proud to point out that the Virginia legislature has formally declared that its police force will NOT cooperate with the US national military in attacking US citizens inside Virgina under the new US national government military/police powers from the NDAA signed by Obama last year.

Very interesting take that the nuke issue is only a proxy for deeper issues.   However, where will Japan get its needed energy and what does this imply for global oil prices?

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idoctor
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(No subject)

Mirv's picture
Mirv
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Joined: Sep 30 2008
Posts: 105
Japan reactor shutdown

Hi Kugs
I dont have answers but point out that the community (orders from Tokyo) has decreased energy consumption by turning everything off during lunchhour (imagine all lights off in the office and you can take a nap during lunch-no lights), removal of hall lights, turn off of some elevators, rescheduling vacations to minimize energy peaks.   It is amazing  what can be done when a community of people cooperate, (regardless of the motivation).   Part of the paradigm shift is reverting to community and I think that the Japanese have particular strength in that area (again, not thinking or judging the motivation for cooperation).  I think that lessons can be learned here. 

Commentators in the US always assume that what is true in the US is also true in other countries, but extrapolations are difficult.  In particular CM commentary has assumed that because the Japanese national govt debt is so big, there must be corresponding gigantic  consumer, local government debt. and the Japanese debt situation is worst in the world.  I am not expert at all but completely disagree with that view.   I expect Europe and other places to melt down and blow first, then the "bug looking for a windshield" Japan to follow, not the other way around.  I dont think the elite are printing trillions of dollars worth of money and giving to their friends like in US/Europe.   Individuals save tons of money, own a big piece of US companies (think 7-11 completely owned etc, much of US electronics and good portion of US car making) and do not borrow tons of money like in the US. Also, national tax was started around the time of Iraq war I (0-3% change).  Then became 5%.  Scheduled to go to 8% soon and then 10% national consumer tax on  everything.  Not enough, but still a much bigger and serious response than in the US. ............ 

 One last point: the angloamerican MSM does not control the minds of the sheeple here.  Often one can see the same or similar issues debated at CM aired in ebates on Japanese national TV.   

KugsCheese's picture
KugsCheese
Status: Diamond Member (Offline)
Joined: Jan 2 2010
Posts: 1449
Mirv wrote: Hi Kugs I dont
Mirv wrote:

Hi Kugs
I dont have answers but point out that the community (orders from Tokyo) has decreased energy consumption by turning everything off during lunchhour (imagine all lights off in the office and you can take a nap during lunch-no lights), removal of hall lights, turn off of some elevators, rescheduling vacations to minimize energy peaks.   It is amazing  what can be done when a community of people cooperate, (regardless of the motivation).   Part of the paradigm shift is reverting to community and I think that the Japanese have particular strength in that area (again, not thinking or judging the motivation for cooperation).  I think that lessons can be learned here. 

Commentators in the US always assume that what is true in the US is also true in other countries, but extrapolations are difficult.  In particular CM commentary has assumed that because the Japanese national govt debt is so big, there must be corresponding gigantic  consumer, local government debt. and the Japanese debt situation is worst in the world.  I am not expert at all but completely disagree with that view.   I expect Europe and other places to melt down and blow first, then the "bug looking for a windshield" Japan to follow, not the other way around.  I dont think the elite are printing trillions of dollars worth of money and giving to their friends like in US/Europe.   Individuals save tons of money, own a big piece of US companies (think 7-11 completely owned etc, much of US electronics and good portion of US car making) and do not borrow tons of money like in the US. Also, national tax was started around the time of Iraq war I (0-3% change).  Then became 5%.  Scheduled to go to 8% soon and then 10% national consumer tax on  everything.  Not enough, but still a much bigger and serious response than in the US. ............ 

 One last point: the angloamerican MSM does not control the minds of the sheeple here.  Often one can see the same or similar issues debated at CM aired in ebates on Japanese national TV.   

Once the US goes then Japan goes.  Just streamed 'Tora Tora Tora' last night, had never seen it before, excellent movie about miscommunication.

Mirv's picture
Mirv
Status: Silver Member (Offline)
Joined: Sep 30 2008
Posts: 105
Japan reactor shutdown

Kugs: you pose the question "where will Japan get its needed energy and what does this imply for global oil prices"
I  am not expert at all but will give my opinion since your friendly and interesting comments induce such:
a. these guys are still trying to react, it takes time for them to sort things out. But when they do, serious cooperation will result and oil imports should drop in my opinion.   In other words, I would expect japan to import extra high levels of NGas and oil for the forseeable future, like at least 2 years.
b. there is a lot of talk about having everyone get solar panels for their roof.  Everyone.  Not just some inducements, which already exist (btw, the government just passed a rule that gives home solar electric feedback credits of just over 50 cents per kilowatt hour) but every roof.  I expect that will happen starting in a couple years but already some companies are building giant megawatt solar farms that float offshore. 
c. Solar electric clearly is the winner in the energy replacement sweepstakes, in my opinion. Now the challenge is load shifting.  Panasonic/Sanyo for example is pushing real hard into distributed (at apartment buildings for example) large scale lithium batteries to handle load shifting. 

 

KugsCheese's picture
KugsCheese
Status: Diamond Member (Offline)
Joined: Jan 2 2010
Posts: 1449
idoctor wrote:
idoctor wrote:

Rifkin: "It's free", what a moron.  I see he is an economist not an engineer.  Also probably a psychopath.

www.spiegel.de/international/business/0,1518,825490,00.html

    And China is not subsidizing Solar???  Global Crash.

idoctor's picture
idoctor
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Posts: 1731
KugsCheese....this is what

KugsCheese....this is what comes out of Harvard LOL....

Going to be a bad day in the Markets....Nikkei down 241 at the moment.....

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Sneaky silver.

Looking a the daily silver charts on Kitco (7/5/12) it looks as though silver began to rise with the bad economic news, somebody smacked it down and then it began its rise again. Could this be the begining of the Big One?

The other thought I had is that no-one has spare cash to buy PM's and this is why it has slid sideways. Have the big banks decided to break ranks and sneakily begin slurping it up? Is it every bank for itself?

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
With heroic confusion.

Thanks for posting the video Klugs.

I can see now why you Yanks are going down. With guns blazing, but going down never-the-less.

The Dying Gaul. So heroic in defeat.

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