Daily Digest

Daily Digest 7/23 - How To Save Europe, Home Sales Fall In June, Asian Investors Stricken By 'Gold Fever'

Saturday, July 23, 2011, 10:43 AM
  • Corporate Tax Holiday in Debt Ceiling Deal: Where's the Uproar?
  • Is The Euro Crumbling?
  • How To Save Europe
  • A New Surge In Job Layoffs
  • The Federal Reserve: Our Policy Is To Steal From You
  • Home Sales Fall 0.8%; 3rd Drop in 3 Months
  • Analysis: Asian investors stricken by gold fever on record price
  • Jim Cramer Talks Gold
  • Cancer Patients' Urine Suspected In Wissahickon Iodine-131 Levels

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

Economy

Corporate Tax Holiday in Debt Ceiling Deal: Where's the Uproar? (Adam)

For those who don’t know about it, tax repatriation is one of the all-time long cons and also one of the most supremely evil achievements of the Washington lobbying community, which has perhaps told more shameless lies about this one topic than about any other in modern history – which is saying a lot, considering the many absurd things that are said and done by lobbyists in our nation’s capital.

Is The Euro Crumbling? (Michael S.)

Rioting on the streets of Athens, banks are in trouble, investors worry, taxpayers are angry. The eurozone is in crisis.

We explain what went wrong in the eurozone, and why the problems in Greece are now a global problem.

How To Save Europe (jdargis)

y 2012, Greek public debt will be above 160 percent of GDP and rising. Alternatives to a debt restructuring are fast disappearing. A full-blown official bailout of Greece's public sector (by the International Monetary Fund, the European Central Bank, and the European Financial Stability Facility) would be the mother of all moral-hazard plays: extremely expensive and politically near-impossible, owing to resistance from core Eurozone voters—starting with the Germans. Meanwhile, the current French proposal of a voluntary rollover by banks is flopping, as it would impose prohibitively high interest rates on the Greeks. Likewise, debt buybacks would be a massive waste of official resources, as the residual value of the debt increases as it is bought, benefiting creditors far more than the sovereign debtor.

A New Surge In Job Layoffs (Alfredo E.)

Optimists and propagandists are getting crushed again. Perhaps if these fools would stop talking about the pace of "the economic recovery" and start talking about coping with a 21st century Depression, employers would not have expected the economy to gain speed as the year progressed. Then Americans could stop fooling ourselves, stop inflating their expectations about the future and actually come to grips with the tragic economic situation in the United States. But clearly that is too much to ask.

The Federal Reserve: Our Policy Is To Steal From You (Alfredo E.)

Can we buy 7 times more goods and services now? Or can we actually only buy 6 times more goods? If so, then our earnings have actually declined by 15%. Put another way: 15% of our earnings have been effectively stolen via inflation.

The Federal Reserve robs savers every day of millions of dollars, which it then transfers to the "too big to fail" banks by paying interest on those banks' reserves. Savers earn .01% on their cash while banks are paid 2% interest. The difference is what is stolen from savers and funneled to the banks.

Home Sales Fall 0.8%; 3rd Drop in 3 Months (jdargis)

Through the first six months of 2011, the number of sales is behind last year’s 4.91 million homes sold — the weakest sales in 13 years. Sales have fallen in four of the last five years.

Analysis: Asian investors stricken by gold fever on record price (Alfredo E.)

Asian giants India and China, the world's two biggest consumers of the precious metal, expect to see demand continue to climb for the rest of the year, as growing wealth and stubbornly high inflation make bullion an attractive asset.

Jim Cramer Talks Gold (Alfredo E.)

I don’t normally take investment advice from CNBC Mad Money host Jim Cramer (and neither should you), but he makes some remarkably good points about gold in this short video, views that are very similar to my own.

Cancer Patients' Urine Suspected In Wissahickon Iodine-131 Levels

The source they now suspect was a surprise. Iodine-131 is used to treat thyroid cancer, and they suspect it's coming from patients excreting excess radioactivity in their urine, which then winds up in rivers, and ultimately in Philadelphia's drinking water intakes.

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."

4 Comments

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

 http://3es.weebly.com/  This weeks summary of 3E links with an expanded resource section and cartoons

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
The Bomb, the Bus and the Bold

 

From http://coldfusionnow.wordpress.com/2011/07/23/viareggio-cold-fusion-conf...

18.35 – Piantelli is not willing to to make any type of publicity. He will arrive on the market with a commercial product and let the market decide if the technology is real or not.

18.37 – Piantelli is not using catalizers, just Nickel and Hydrogen.

18.39 – The first reactors that will be offered for sale will be on the range of the Kw. After they will scale up.

My bold.

It seems as though there are now two competitors rushing to get their products to market. Rossi and Piantelli

This brings memories of the two sewing machine patent battles.

Letme see. 10x40kw units each the size of a coke can = 400kW. That should be enough for a bus. Each can needs to be recharged twice a year with 20c worth of nickel meaning a grand sum of $2 worth of energy to travel for a year, non-stop.

The bug spray detergent will be more expensive than the fuel.

Further down there is speculation that the Pentagon wanted the CF reaction for themselves as it produces tritium which is used in the H Bomb. Tritium has a very short half life so it is hard to find.

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Asia enters the silver futures market

http://moneymorning.com/2011/07/22/why-chinas-new-futures-market-is-bull...

The Hong Kong Merc's entry into the silver-futures market is a game-changer - for a number of reasons. For one thing, the emergence of a new market player will effectively neuter U.S. elitists like those at the Chicago Mercantile Exchange (CME).

I specifically mention the CME because that exchange unilaterally raised margin requirements on silver by nearly 100% in a mere eight days this spring - after silver prices had risen roughly 150% between late August and the end of April. The CME action helped cause silver prices to plunge by 30% from its recent highs.

Longer-term - and probably even more significantly - this move will help investors in China and India buy into bullion.

Time to put the pedal to the metal with your silver purchases folks.

Damnthematrix's picture
Damnthematrix
Status: Diamond Member (Offline)
Joined: Aug 10 2008
Posts: 3998
Who Owns America?
Who Owns America? Hint: It's not China

A close-up look at who holds America's debt.

By Thomas Mucha

July 23, 2011 "

GlobalPost" --  Truth is elusive.  But it's a good thing we have math.

Our friends at Business Insider know this, and put those two principles to work today in this excellent and highly informative little slideshow, made even more timely by the ongoing talks in Washington, D.C. aimed at staving off a U.S. debt default. 

Here's the big idea:

Many people — politicians and pundits alike — prattle on that China and, to a lesser extent Japan, own most of America's $14.3 trillion in government debt.

But there's one little problem with that conventional wisdom: it's just not true. While the Chinese, Japanese and plenty of other foreigners own substantial amounts, it's really Americans who hold most of America's debt.

Here's a quick and fascinating breakdown by total amount held and percentage of total U.S. debt, according to Business Insider:

  • Hong Kong: $121.9 billion (0.9 percent)
  • Caribbean banking centers: $148.3 (1 percent)
  • Taiwan: $153.4 billion (1.1 percent)
  • Brazil: $211.4 billion (1.5 percent)
  • Oil exporting countries: $229.8 billion (1.6 percent)
  • Mutual funds: $300.5 billion (2 percent)
  • Commercial banks: $301.8 billion (2.1 percent)
  • State, local and federal retirement funds: $320.9 billion (2.2 percent)
  • Money market mutual funds: $337.7 billion (2.4 percent)
  • United Kingdom: $346.5 billion (2.4 percent)
  • Private pension funds: $504.7 billion (3.5 percent)
  • State and local governments: $506.1 billion (3.5 percent)
  • Japan: $912.4 billion (6.4 percent)
  • U.S. households: $959.4 billion (6.6 percent)
  • China: $1.16 trillion (8 percent)
  • The U.S. Treasury: $1.63 trillion (11.3 percent)
  • Social Security trust fund: $2.67 trillion (19 percent)

So America owes foreigners about $4.5 trillion in debt. But America owes America $9.8 trillion.

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