Daily Digest

Daily Digest 8/20 - The Upcoming U.S. Bank Credit Extension, College Board Gets Rich On Student Fees, GDP Deep Freeze

Saturday, August 20, 2011, 10:40 AM
  • A Judge Berates Three Who Took Part In Last Month's Center City Youth Mob Attacks
  • Companies Point Fingers as Students Protest Conditions at Chocolate Plant
  • The Upcoming Expansion Of U.S. Bank Credit
  • U.S. Scrambling to Ease Shortage of Vital Medicine
  • Not-for-Profit College Board Getting Rich as Fees Hit Students
  • GDP Recovery Since The Depression: Deep Freeze

Crash Course DVDOwn the Crash Course Special Edition Set with Presenter’s Pack (NTSC or PAL)

Economy

A Judge Berates Three Who Took Part In Last Month's Center City Youth Mob Attacks (June C.)

The youths, all male, are not being identified because of their ages. All three pleaded guilty to assault, robbery, and riot charges. A 19-year-old, Raymond Gatling, was also arrested in the attacks. On Thursday, his scheduled hearing was postponed until October.

The two teens, who have been held at the Youth Study Center since the attacks, were led handcuffed into the packed courtroom. The 11-year-old, who had been held at a separate juvenile facility, was not handcuffed. He wore Sunday clothes, and smiled and waved through the back of a chair at his younger brother, who sat in his father's lap.

Companies Point Fingers as Students Protest Conditions at Chocolate Plant (ccnewyork)

The students, including many from medical and engineering graduate schools, said they were expecting a relaxing summer job and opportunities to befriend Americans. They were encouraged, they said, by the Web site of the council, which shows laughing students on a highway before a panoramic mountain landscape, promising a chance to “live your dream.”

The Upcoming Expansion Of U.S. Bank Credit (SteveW)

Since the FOMC meeting, there has been a noticeable silence over the Fed’s monetary policy following QE2. But there is some evidence that the funding of government debt at low interest rates will shift to the repo market, rather than a new round of quantitative easing.

U.S. Scrambling to Ease Shortage of Vital Medicine (VeganD)

“These shortages are just killing us,” said Dr. Michael Link, president of the American Society of Clinical Oncology, the nation’s largest alliance of cancer doctors. “These drugs save lives, and it’s unconscionable that medicines that cost a couple of bucks a vial are unavailable.”

So far this year, at least 180 drugs that are crucial for treating childhood leukemia, breast and colon cancer, infections and other diseases have been declared in short supply — a record number.

Not-for-Profit College Board Getting Rich as Fees Hit Students (jdargis)

The group gave $53 million in fee waivers and subsidies for all its programs in the year that ended in June, with one student in five in the class of 2011 taking the SAT for free. The organization is dedicated to an “equity agenda” and has expanded access to higher education, especially for the poor, African-Americans and Hispanics, Caperton said. Low-income students can take the test twice, along with as many as six SAT subject tests over two sittings at no charge.

GDP Recovery Since The Depression: Deep Freeze (jdargis)

Among the G7 countries only Germany has regained its end-2007 level. Comparing output now with its level before the crisis actually understates the depth of the slump. An alternative yardstick (see article) is to compare GDP per head now with what might have been expected if it had continued to grow at the same pace as during the ten years before the crisis. On this basis, even Germany has not yet caught up, and Ireland’s income per head is now a painful 25% below its previous trend.

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."

3 Comments

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

 Weekly summary of 3E links, cartoons, and resources posted at http://3es.weebly.com/

Damnthematrix's picture
Damnthematrix
Status: Diamond Member (Offline)
Joined: Aug 10 2008
Posts: 3998
another oil-induced recession may be just around the corner

If history is any guide, another oil-induced recession may be just around the corner, at least for the United States and some of the other developed economies.

Every time that the cost of oil relative to global economic output has hit current levels - and that's even after sharp falls in spot prices this month - it has heralded a slump.

And while economists and analysts say a serious slowdown can still be avoided, many add that unless oil and energy prices fall much further and -- most important -- stay down, the world economy could be in serious trouble.

"We are in a danger area for the world economy," said Christophe Barret, global oil analyst at Credit Agricole.

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Feedback and opinion.

DTM said

Every time that the cost of oil relative to global economic output has hit current levels - and that's even after sharp falls in spot prices this month - it has heralded a slump.

I would say the same thing differently.

Oil availability is a negative feedback loop. If the economy takes off, it uses more oil which is not available and growth is strangled.

Ultimately this is good. Anything that strangles growth on a finite world is good.

If we want or require further growth we have to excape this gravity well. 

I want further growth. But not on this planet. It is too precious.

 

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