Daily Digest

Daily Digest 8/14 - 2008 All Over Again, Eight Days Of Market Frenzy, John Embry Interviews James Turk

Sunday, August 14, 2011, 10:41 AM
  • With The Economy, Is It 2008 All Over Again?
  • The Trading Game Is Causing The Manic Market
  • Buy, Sell, Hold (Tight): Eight Days of Market Frenzy
  • John Embry interview with James Turk at GATA's Gold Rush 2011
  • White House Debates Fight on Economy
  • Investors in U.S. `Keep Their Heads’ After S&P Downgrades Municipal Bonds

Crash Course DVDShare the Crash Course with your friends and family – buy the DVD today (NTSC or PAL)

Economy

With The Economy, Is It 2008 All Over Again? (jdargis)

The turmoil that rocked stock markets last week has invited comparisons to the economic collapse of three years ago, but conditions today are different. Certainly, the economy is struggling, and most analysts expect a long, difficult recovery that will continue to feel like a recession for millions of Americans.

The Trading Game Is Causing The Manic Market (jdargis)

Lots of people are blaming computers and so-called high frequency trading for the insane stock market fluctuations we've seen over the past week. But that's not quite right. Sure, technology is making the dramatic ups and downs possible, but the computer is a mere tool. Even since big investors stopped worrying about company fundamentals and became involved in technical analysis and tricky arbitrage strategies, the stock market fundamentally changed.

Buy, Sell, Hold (Tight): Eight Days of Market Frenzy (jdargis)

Even financial professionals were grasping for answers. Many were selling — and many were buying as fast as they could. Each was making a bet on whether last week was a hiccup, or the start of something worse.

John Embry interview with James Turk at GATA's Gold Rush 2011 (adam)

They talk about how the price of gold will react in another market meltdown, similar to 2008, and whether there will be a sell-off. They conclude that this time the flight to safety will be more important than the rush for liquidity and that gold is uniquely placed to act as a safe haven, especially with T-bills and other traditional safe assets discredited by US debt issues.

John and James explain how important it is to own tangible asset that are free of counterparty risk. They also talk about some relatively safer currencies like the CAD, AUD and CHF, and conclude that, although better than the US dollar, they also have their flaws.

White House Debates Fight on Economy (jdargis)

“The president’s team puts a premium on being above the partisan fray, which is usually the right strategy,” said Senator Charles E. Schumer of New York, the No. 3 Democrat in the Senate. “But on this issue, when he knows what the right thing to do is, and when a rather small group on one side is blocking any progress, you have to be willing to call that group out if you want to get anything done.”

Investors in U.S. `Keep Their Heads’ After S&P Downgrades Municipal Bonds (jdargis)

Investors may not be dumping their bonds in part because they’re more focused on the underlying ability of issuers to repay principal and coupons, said Tom Spalding, who oversees about $10 billion in municipal securities in mutual funds and closed-end funds at Nuveen Investments Inc. in Chicago.

“They’re taking a longer-term view,” Spalding said. “The overwhelming evidence is that municipal credit is still a relative safe haven for investors.”

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

littlefeatfan's picture
littlefeatfan
Status: Silver Member (Offline)
Joined: Jul 20 2009
Posts: 141
Peak Moment TV with the "Peak Shrink"

 Excellent episode that covers many Peak Oil Issues http://www.wordpress.peakmoment.tv/conversations/?p=457

"We are all Bozos on this Bus"

“My own reaction seemed so crazy to me,” says psychologist Kathy McMahon of her response to Peak Oil. Wondering if she was the only “wacko”, she started the Peak Oil Blues blog to explore her own and readers’ responses. As the “Peak Shrink,” Kathy formulated a delightfully tongue-in-cheek “Panglossian Disorder” — an unrealistic optimism about the future. She has just published “I Can’t Believe You Actually Think That!” A Couple’s Guide to Finding Common Ground about Peak Oil, Climate Catastrophe, and Economic Hard Times. (peakoilblues.comfeistylife.com)

Vanityfox451's picture
Vanityfox451
Status: Diamond Member (Offline)
Joined: Dec 28 2008
Posts: 1636
Kim Ives on His Report, "WikiLeaks Haiti: The Aristide Files"

DemocracyNow.org

A new exposé on Haiti reveals how the United States led a vast international campaign to prevent former Haitian President Jean-Bertrand Aristide from returning to his country while he was exiled in South Africa. It's part of a series of reports by The Nation magazine and the Haitian weekly Haïti Liberté that draw from almost 2,000 U.S. diplomatic cables on Haiti released by WikiLeaks. The cables show that high-level U.S. and U.N. officials coordinated a politically motivated prosecution of Aristide to prevent him from "gaining more traction with the Haitian population and returning to Haiti."

The United States and its allies allegedly poured tens of millions of dollars into unsuccessful efforts to slander Aristide as a drug trafficker, human rights violator, and heretical practitioner of voodoo. Another recent exposé based on the cables details how Haiti's unelected de facto authorities worked alongside foreign officials to integrate at least 400 ex-army paramilitaries into the country's police force throughout 2004 and 2005.

The WikiLeaks cables reveal just how closely Washington and the United Nations oversaw the formation of Haiti's new police force and signed off on the integration of paramilitaries who had previously targeted Haiti's poor majority and democratically elected governments. Democracy Now! interviews Haïti Liberté editor Kim Ives, whose latest article for TheNation.com is "WikiLeaks Haiti: The Aristide Files."

For the complete transcript, to download the podcast, or for Democracy Now!'s special report on the return of Aristide to Haiti, visit http://www.democracynow.org/2011/8/11/haiti_wikileaks_cables_expose_how_us

~ VF ~

Full Moon's picture
Full Moon
Status: Diamond Member (Offline)
Joined: Oct 14 2008
Posts: 1258
VF Thank You

~VF~ 

 

 Thank you , I have children headed to Haiti in a couple weeks  to do a medical mission .  I know I can not stop them from going because they have a  deep desire to serve there.   But this will help guide my prayers .

 FM

Vanityfox451's picture
Vanityfox451
Status: Diamond Member (Offline)
Joined: Dec 28 2008
Posts: 1636
FM, You're very welcome.

FM,

You're very welcome.

You and your children will be much in my thoughts for their safe passage over these coming weeks ...

My Best,

Paul

elsur's picture
elsur
Status: Bronze Member (Offline)
Joined: Sep 10 2008
Posts: 49
An MSNBC Rant

This is an amazing rant by Dylan Ratigan on MSNBC - he spells out his impression of what's going on pretty well. 

Be sure you watch until the end.

 

 

Elsur

Damnthematrix's picture
Damnthematrix
Status: Diamond Member (Offline)
Joined: Aug 10 2008
Posts: 3998
An MSNBC Rant

Well... that was sure interesting!  BUT.....  until somebody comes out and actually says we need a whole reboot, until the contents of the CC come out as mainstream news, you can't say anyone, and certainly not Dylan Ratigan, "gets it".  Truly "gets it".

Yes I agree with the bought politicians notion, but it isn't just them who need sacking.... Wall Street needs to be razed to the ground!

Then you have to tell the people that their lifestyle is unsustainable and they have to quit doing everything they're doing and have to start all over again.

And I say good luck with that.

If I was in charge I know what I would do.  But then I reckon I'd be assassinated within hours.......

Full Moon's picture
Full Moon
Status: Diamond Member (Offline)
Joined: Oct 14 2008
Posts: 1258
 The good news is that the

 The good news is that the Cholera in the area of the mission is clear so most of the medical will be on the orphans .   We are still feeding refugees from the earthquake but the building are going up.   The Haitian people will walk hours to come to the school and church service .

 Every spoiled American should take one short trip there to appreciate the life we have .  It will open your eyes to the difference between a need and a want . It makes you worry less about loosing all your THINGS  and realize how important the people are .

 FM

badScooter's picture
badScooter
Status: Silver Member (Offline)
Joined: Jun 20 2011
Posts: 152
thanks

Thanks littlefeat for a nice link.  I've been reading it on and off all day.

cheers
Mike 

frobn's picture
frobn
Status: Silver Member (Offline)
Joined: Nov 28 2010
Posts: 184
Damnthematrix wrote: ..... 
Damnthematrix wrote:

.....  until somebody comes out and actually says we need a whole reboot, until the contents of the CC come out as mainstream news, you can't say anyone, and certainly not Dylan Ratigan, "gets it".  Truly "gets it".

...If I was in charge I know what I would do.  But then I reckon I'd be assassinated within hours.......

You hit the nail on the head:

"I have three treasures. Guard and keep them: The first is deep love, the second is frugality, and the third is not to dare to be ahead of the world. Because of deep love, one is courageous. Because of frugality, one is generous. Because of not daring to be ahead of the world, one becomes the leader of the world." -Lao Tzu

The third treasure, daring not be at the world's front, is the Taoist way to avoid premature death. To be at the world's front is to expose oneself, to render oneself vulnerable to the world's destructive forces, while to remain behind and to be humble is to allow oneself time to fully ripen and bear fruit. This is a treasure whose secret spring is the fear of losing one's life before one's time. This fear of death, out of a love for life,

KugsCheese's picture
KugsCheese
Status: Diamond Member (Offline)
Joined: Jan 2 2010
Posts: 1447
Manufacturing Contracts Again...

www.businessweek.com/news/2011-08-15/new-york-area-factories-shrink-for-third-consecutive-month.html

The US cannot thrive without a solid manufacturing base.   Manufacturing going down for 3 months is a bad sign.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Login or Register to post comments