Daily Digest

Daily Digest 6/14 - How To Kill A Dollar, Germany Recognizes Libyan Government, Can We Afford The Military Budget?

Tuesday, June 14, 2011, 10:46 AM
  • Jim Rogers: Dollar Is Doomed, Own Real Assets
  • How To Kill A Dollar
  • Protect Yourself Against Kidnapping
  • Germany Officially Recognizes Libyan Rebel Government
  • Syrian Unrest Stirs New Fear of Deeper Sectarian Divide
  • Can We Afford The Military Budget?
  • Apples Top List Of Produce Contaminated With Pesticides
  • Thick Snowpack Holds Water — And Potential Peril

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Economy

Jim Rogers: Dollar Is Doomed, Own Real Assets (woodman)

When it comes to the U.S. dollar, Jim Rogers is "incredibly pessimistic about the long term, or even the intermediate term future." He's also long the dollar and feels there are "plenty of reasons that the U.S. dollar could rally."

How can he reconcile the two? Easy: he's a trader.

How To Kill A Dollar (Ilene)

The weak Dollar was pretty much the only reason we had the pretense of a global recovery. It made it look like there was a demand for commodities (there was not), it made it look like there was a demand for American goods (there was not) and it made it look like we were paying our debts, which we were - but with discounted Dollars that were being created by the Federal reserve at a rate of over $50Bn per month.

Protect Yourself Against Kidnapping (June C.)

"The kidnap threat is always there," Beyer says. "The fear is that anyone can Google a last name and find out that the person's kid goes to Rye Country Day school," and then use that information to snatch the child for ransom.

Germany Officially Recognizes Libyan Rebel Government (jdargis)

“The Transitional Council is the legitimate representation of the Libyan people,” Mr. Westerwelle said after arriving in Benghazi. “With this council, we want to support the building of a democratic and law-abiding Libya.”

Syrian Unrest Stirs New Fear of Deeper Sectarian Divide (jdargis)

Jisr al-Shoughour, where the government used tanks and helicopters to crush what it called “armed terrorist gangs,” sits in a landscape as complicated as anywhere in Syria. It is a Sunni town with an Alawite town less than a mile to the south, interspersed with Christian and more Sunni settlements.

Can We Afford The Military Budget? (jdargis)

An examination of the latest NATO data shows that in 2010, the United States spent 5.4 percent of its gross domestic product on its military — twice as much as spent by Britain and three to four times as much as most of our NATO allies, as shown in the following table.

Environment

Apples Top List Of Produce Contaminated With Pesticides (jdargis)

Apples moved up three spots from last year, replacing celery at the top of the most-contaminated list; 92% of apples contained two or more pesticides.

Thick Snowpack Holds Water — And Potential Peril (jdargis)

From the Sierra Nevada and the Cascades to the northern Rockies, much of the West's high country remains buried under a thick snowpack that is filling reservoirs and engaging dam operators in a nerve-racking balancing act as they watch for jumps in temperature that could turn all those scenic piles of white into raging floodwaters.

"It's luck, but it's also quite a bit of skill being applied," state hydrologist Maury Roos said.

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."

5 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4149
Greek, Portuguese and Irish bond yields hit new highs

"Much of the public focus is on the nation's public debt, which is $14.3 trillion. But that doesn't include money guaranteed for Medicare, Medicaid and Social Security, which comes to close to $50 trillion, according to government figures.

The government also is on the hook for other debts such as the programs related to the bailout of the financial system following the crisis of 2008 and 2009, government figures show.

Taken together, Gross puts the total at "nearly $100 trillion," that while perhaps a bit on the high side, places the country in a highly unenviable fiscal position that he said won't find a solution overnight.

"To think that we can reduce that within the space of a year or two is not a realistic assumption," Gross said in a live interview. "That's much more than Greece, that's much more than almost any other developed country. We've got a problem and we have to get after it quickly.""

"Greek, Portuguese and Irish 10-year bond yields hit fresh euro lifetime highs on Tuesday and were poised to rise further at least until details of a new bailout package for Greece are agreed.

The cost of protecting Greek debt against default also hit a record and analysts cautioned that a well-bid auction of the country's treasury bills had not alleviated the gloom.

"I wouldn't put my hand in the fire for the Greeks that they would not default by the end of the year," said Glenn Marci, rate strategist at DZ Bank.

European policymakers remain divided over how to involve the private sector in a second rescue package for Greece, which urgently needs cash to bridge a financing gap next month."

  • Other news, headlines and opinion:

Spain banks' ECB borrowings rise in May

Spain borrows 5.4 bln euros in bill sale, yields up

Greece sells 1.625 bln eur 6-month T-bills at 4.96 pct

Greeks say to cordon off parliament to stop cuts debate

Italy: Public debt hits €1890.6bln in April

Egypt Debt Buoyed by Obama Guarantee for Eurobonds: Arab Credit

Harrisburg Must Sell Assets to Avoid Bankruptcy, Report Says

Mayor Dave Bing warns: Hart Plaza festivals in peril (Detroit)

China ups bank reserves ratio as inflation hits 34-mth high

Belarus economic crisis 'serious': IMF

India Wholesale Prices Rise Faster-Than-Estimated 9.06% From Year Earlier

Saudi oil spare capacity shrinking fast

ken325's picture
ken325
Status: Member (Offline)
Joined: Dec 29 2009
Posts: 18
re- protect yourself against kidnaping

My dad used to be a bank executive.  One of the things his bank did was provide training to family members on how to avoid kidnaping.  We were tought not to give sensitive information to strangers and how to answer the phone without giving out any information.  If someone called and asked "are your parents home", you were tought to say "they can't come to the phone right now", instead of 'my dad is working in Houston this week".   Occasionally people from his bank would call to test us, and see if we could be tricked into giving out informaiton. 

I liked this story but I think teaching your kids how to respond to strangers should be mentioned.  It should also discuss car jacking and having bad guys ambush you when you pull up in your driveway.  I would like to see more articles like this on personal safety.

Poet's picture
Poet
Status: Diamond Member (Offline)
Joined: Jan 21 2009
Posts: 1891
Prepping On A Shoestring - A Valuable Resource

I recently took some time to re-read what I consider to be one of the most valuable resources in the "What Should I Do?" series. All the articles are great, but this one by Amanda is crucial for people who may become "Crash-Aware" but don't have the kind of financial resources to do everything they want. That is the vast majority of us.

So, sharing again - especially to newcomers...

Prepping on a Shoestring: How to Prepare When Times Are Already Tight
"My husband and I have four children who are not yet teenagers, and we live a relatively frugal but comfortable life. We have managed to keep afloat even through financial ups and downs, but like many Americans and others around the world, we live roughly paycheck-to-paycheck. If something unexpected comes up, we rob Peter to pay Paul (as my mother used to say), and then the next month we rob Paul to pay Peter. It's not ideal, but it is real. Sound familiar?'
http://www.peakprosperity.com/blog/prepping-shoestring-how-prepare-when-...

Thanks again, Amanda!

Poet

rjs's picture
rjs
Status: Gold Member (Offline)
Joined: Aug 8 2009
Posts: 445
A New Age of Energy
A New Age of Energy Abundance in the U.S. - According to data released recently by the Energy Information Administration, U.S. natural gas production set a new monthly record in March of 2.4 trillion cubic feet (see chart abvoe). This production record is another new milestone for the ongoing success of the hydraulic fracturing method of extracting natural gas from deep shale rock that is bringing about a new age of energy abundance in the United States. The booming natural gas production is also helping to create thousands of new jobs for Americans in a very tough job market. More than 34,000 drilling-related jobs were added over the past year in Pennsylvania—that’s almost a hundred new jobs every day in just one state and demonstrating that drill, drill, drill = jobs, jobs, jobs.

 

msnrochny's picture
msnrochny
Status: Bronze Member (Offline)
Joined: Nov 4 2010
Posts: 58
New Age of Energy and Associated Water Pollution

What good are 100 jobs a day, if you poison our water supply?

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