Daily Digest

Daily Digest 6/4 - Goldman Sachs Issued With Subpoena, U.S. Faces Moody's Credit Review, Debating The Value Of College

Saturday, June 4, 2011, 10:53 AM
  • U.S. Jobless Rate 'Unacceptably High'
  • Can We Please Stop Pretending the GDP Is "Growing"? 
  • U.S. Faces Credit-Rating Review From Moody's
  • Treasury Continues To Dip Into Retirement Accounts, Prepares To "Take Out" $66 Billion Chunk To Make Room For New Bond Issuance
  • Yemen Slides Towards All-Out War After President Saleh Survives Rocket Attack
  • Goldman Sachs 'Issued With Subpoena' Over Actions During Credit Crisis
  • Rational Irrationality: Will Lloyd Blankfein End Up In The Dock?
  • Debating The Value Of College In America

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

Economy

U.S. Jobless Rate 'Unacceptably High' (jdargis)

The report from the US labour department was the weakest since last September. Private-sector jobs grew by 83,000, the smallest rise since June 2010, while government payrolls fell by 29,000. Employment growth in March and April was revised down by a total of 39,000, while the jobless rate rose in May from 9% to 9.1%.

Can We Please Stop Pretending the GDP Is "Growing"? (pinecarr)

The Federal Government borrowed and spent $6.1 trillion to get $700 billion in total GDP "growth" from 2008-2011. In constant dollars, there was no growth at all.

U.S. Faces Credit-Rating Review From Moody's (pinecarr)

Moody's said the world's biggest economy's AAA-rating is under threat because the country will run out of money unless policymakers agree to increase the limit on the national debt above the current $14.3 trillion.

Treasury Continues To Dip Into Retirement Accounts, Prepares To "Take Out" $66 Billion Chunk To Make Room For New Bond Issuance (pinecarr)

Today, very quietly, the Treasury released its latest refunding announcement, in which it disclosed it would issue another $66 billion in 3, 10 and 30 Year notes next week. The irony of course is that the US is and continues to be at its debt ceiling limit (or just $25 million short of it), at a total of $14,293,975 million. Furthermore, as was also disclosed by the Treasury, this gross issuance will also be the net amount added in marketable debt, as upon settlement on June 15, there will be no redemptions of maturing bonds. Which simply means that the continued "disinvesting" (which is merely a polite word for plundering) from intragovernmental debt, also known as retirement accounts, is about to kick into high gear.

Yemen Slides Towards All-Out War After President Saleh Survives Rocket Attack (jdargis)

The incident fuelled growing anxieties that the Arab uprisings, which have brought dramatic changes to Egypt and Tunisia, are turning Yemen – the Arab world's poorest country – into something far more volatile and dangerous.

The government accused Saleh's bitter rival, Hamid al-Ahmar of the opposition Islah party, of launching the attack, and government forces immediately shelled his mansion in Sana'a.

Goldman Sachs 'Issued With Subpoena' Over Actions During Credit Crisis (pinecarr)

Manhattan's top law enforcer is believed to have issued subpoenas to Goldman Sachs as he investigates the firm's activity during the credit crisis.

Manhattan district attorney Cyrus Vance Jr is pursuing claims made by an official senate investigation into Wall Street's role in the housing market collapse.

The report, published in April, singled out Goldman Sachs for particular criticism, accusing the bank of misleading buyers of mortgage-linked investments. The bank encouraged buyers to invest in mortgage-related securities even as it was betting heavily against the mortgage market, according to the report

Rational Irrationality: Will Lloyd Blankfein End Up In The Dock? (jdargis)

What to make of today’s news that the Manhattan district attorney’s office has issued a subpoena to Goldman Sachs relating to its activities in the market for subprime securities?

In one sense, it comes as no surprise. Back in April, the Senate’s Permanent Subcommittee on Investigations issued a blistering report about Wall Street’s role in the credit crisis, claiming to have unearthed a “financial snake pit rife with greed, conflicts of interest, and wrongdoing.” Those were the words of Carl Levin, the Michigan Democrat, who forwarded his six-hundred-page report to the Justice Department with the recommendation that it look into prosecuting Lloyd Blankfein and other Goldman bigwigs.

Debating The Value Of College In America (jdargis)

It’s possible, though, that the higher education system only looks as if it’s working. The process may be sorting, students may be getting access, and employers may be rewarding, but are people actually learning anything? Two recent books suggest that they are not. They suggest it pretty emphatically.

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."

6 Comments

littlefeatfan's picture
littlefeatfan
Status: Silver Member (Offline)
Joined: Jul 20 2009
Posts: 141
3Es Links and Cartoons posted

New weekly summary of 3E links and cartoons posted at http://3es.weebly.com/

Vanityfox451's picture
Vanityfox451
Status: Diamond Member (Offline)
Joined: Dec 28 2008
Posts: 1636
STOP WHAT YOU'RE DOING RIGHT NOW!!!!!!!!!!!

Stop what you're doing - right now!!!

This is singularly the most important information you'll come by at this site without any over estimation. It is information that I insist - no demand - that you fully share with everyone you know, no matter how difficult the task.

What you'll come to understand will simply be so self evident that it will demand you spread this information as far and wide as you can. I insist you understand that you'll hold no question with yourself that what you are doing is in any way wrong.

As Dr Chris Martenson has said often :-

"...it is past time for you to learn, pay attention and take actions".

This is such a time ...

The future survival of you, your friends and family depend heavily that you take action on this subject here and now!!! No if, and, or Buts ...

CLICK THIS LINK!!!

~ VF ~

Poet's picture
Poet
Status: Diamond Member (Offline)
Joined: Jan 21 2009
Posts: 1891
Please Reserve Urgent Alarms For Immediate Problems
Vanityfox451 wrote:

Stop what you're doing - right now!!!

This is singularly the most important information you'll come by at this site without any over estimation. It is information that I insist - no demand - that you fully share with everyone you know, no matter how difficult the task.

Hi there I understand this is really important. I agree that it has importance. I even contributed a comment to your topic post about the movie, Gasland, and the issues around fracking - and I myself have posted in this community about the subject before you started your topic today.

But I'm not so sure this deserves a "STOP WHAT YOU'RE DOING RIGHT NOW!!!!!!!!!!!" kind of warning. Such alarms should be reserved for true emergencies, such as nuclear war, foreign invasion, immediate fall-out danger, someone of proven and trusted predictive powers warning about an earthquake. Maybe even reserved for Dr. Martenson to use if he thinks it is warranted. And if it's that important, maybe you need to call 9-11 or MSNBC and report an emergency. Okay?

PLEASE. Let's not take away from the importance of the issue by sounding an urgent alarm that, in retrospect, would make others dismiss what you are trying so hard to promote. I'm gonna go snuggle my babies now so they can take a nap.

Poet

Lemonyellowschwin's picture
Lemonyellowschwin
Status: Platinum Member (Offline)
Joined: Apr 22 2008
Posts: 561
Don't say "STOP WHAT YOU'RE DOING RIGHT NOW!!!!!!!!!!!!!!!!"

That's ridiculous Vanity.

Vanityfox451's picture
Vanityfox451
Status: Diamond Member (Offline)
Joined: Dec 28 2008
Posts: 1636
You Just Have To Be Kidding, Right?

You just have to be kidding, right?

Let me get this straight in my mind. To hell with anyone else who is suffering. Do allow them something of a dignity to recognise their suffering by accrediting a sufficiently large box to contain all of the detail of their suffering, then close off the subject with a stamp of approval as to whether to relegate the subject or not with enough substance to allow a thread to die like so many have in this forum?

However, if it is you and yours - and by looking into the facts it is coming to a place close by your homes not long from now - don't let it be said that I didn't make the subject public enough at this forum, even if I didn't calmly set it out as a gentle anecdote for the masses to coo at and move on.

I very rarely post at this forum these days. I am little interested in celebrity status - as you are more than aware - by writing about easy to digest subjects in a simplistic way. The subject of gas fracking is right under my skin, and for one delusionary moment I assumed I was posting this into the right place. Please excuse my oversight ...

~ VF ~

Poet's picture
Poet
Status: Diamond Member (Offline)
Joined: Jan 21 2009
Posts: 1891
Millions Fewer Girls Born Due to Nuclear Radiation?

(Crossposted here and in Arnie Gundersen Interview.)

I'm a little puzzled at the explanation of damage to X chromosomes, because...

As we all know, girls are XX, boys are XY. X-linked genetic issues tend to hit males harder because males only have one X chromosome. Women have two, so if there's a problem with an X chromosome, the other one is usually going to help make up for it in women.

As an example, color blindness overwhelmingly affects more males than females. Though women can be carriers of the color-blind-linked X, the other X makes up for it. (Interestingly, there are some women who have incredibly rich color vision because they have different genes for color on each X chromosome.)

That said, here is the National Geographic article:

Millions Fewer Girls Born Due to Nuclear Radiation?
"Nuclear radiation from bomb tests and power plant accidents causes slightly more boys than girls to be born, a new study suggests. While effects were seen to be regional for incidents on the ground, like Chernobyl, atmospheric blasts were found to affect birth rates on a global scale. The result: Millions fewer females have been born worldwide than would otherwise be expected, researchers estimate."
http://news.nationalgeographic.com/news/2011/06/110602-millions-fewer-gi...

Perhaps the radiation-linked damage is something else that affects female embryos in utero. that male embryos may have some kind of resistance to or protection from. Or, the damage could be causing female embryos to express more or make more of a certain protein than normal. Anyways, that's just conjecture at this point until scientists find out more.

The Russians have a lot to answer for.

"'The closer the country was to Chernobyl, the stronger the effect,' said Scherb, a biostatistician at the German Research Center for Environmental Health in Munich."

Watch out, Japan...

Poet

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