Daily Digest

Daily Digest 8/28 - Irene Batters New York, One Key Difference Between 2011 And 2008, Can Inflation Save The Economy?

Sunday, August 28, 2011, 9:46 AM
  • Irene Starts Battering New York, Storm Surge Hits Jersey Shore
  • Corbett: Pa. will take over Harrisburg if no plan made
  • It May Be 2008 All Over Again, But There Is One Key Difference
  • Bernanke May Seek Consensus On Easing
  • Bernanke Outlook Revives Risk Appetite
  • Can Inflation Save The Economy?
  • East Coast quake rekindles nuclear plant safety concerns
  • Japanese Island’s Activists Resist Nuclear Industry’s Allure

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Economy

Irene Starts Battering New York, Storm Surge Hits Jersey Shore (jdargis)

Hurricane Irene made its first landfall early yesterday on North Carolina’s outer banks, flooding roads and knocking out power to more than a million homes and businesses, according to local utilities. Five storm-related deaths have been reported.

Corbett: Pa. will take over Harrisburg if no plan made (June C.)

If the council defeats Thompson's plan, Corbett told her, he will sign a bill that would create a management board with broad powers to oversee the city. That Republican-sponsored bill passed the state Senate in June over the protests of Democrats and is pending in the GOP-controlled House.

Some city officials have suggested that Harrisburg should seek federal bankruptcy protection to force concessions from lenders. But Corbett signed a bill June 30 that would stop state aid for Harrisburg and dozens of other small to medium-size cities if they seek federal bankruptcy protection.

It May Be 2008 All Over Again, But There Is One Key Difference (pinecarr)

The financial press has been inundated with articles comparing what is happening in global markets now to events in the latter part of 2008…. That said, there is one key difference between 2008 and 2011. Bill Buckler, in the latest edition of his Privateer, demonstrates what it is...

Bernanke May Seek Consensus On Easing (jdargis)

“The move to a two-day meeting means he’ll work to build consensus” after confronting the most dissent during his tenure last month, Diane Swonk, chief economist at Chicago-based Mesirow Financial Inc., which oversees about $57 billion in assets, said in an interview at Jackson Hole. “They will end up with QE3, but probably not in September,” she said, referring to a third round of bond purchases, also known as quantitative easing. “They will edge closer to it in the September statement.”

Bernanke Outlook Revives Risk Appetite (jdargis)

“Bernanke doesn’t want anyone to think that his finger isn’t on the big red button to do more,” said Stephen Gallo, head of market analysis at Schneider Foreign Exchange in London. “September could bring the trigger for whatever more is going to be.”

Can Inflation Save The Economy? (jdargis)

Harvard economist Kenneth Rogoff has spent his career fighting inflation. Now he thinks it might just save the economy.

East Coast quake rekindles nuclear plant safety concerns (jdargis)

The "close call," as some critics label it, led to demands from Boxer and others for new safety measures to protect plants against earthquakes and other natural disasters. In a letter sent to the NRC on Friday, Boxer asked whether the agency believed the safety margins of the North Anna plant had changed since the time the plant was built.

Japanese Island’s Activists Resist Nuclear Industry’s Allure (jdargis)

The story of Iwaishima’s battle has become something of a touchstone in Japan, especially among those who feel uneasy in the wake of the disaster at the Fukushima Daiichi nuclear plant for having accepted decades of government assurances that nuclear power was safe. And because the plans to build the plant are closer to approval than any others in Japan, many antinuclear activists see the island’s struggle as their best hope of ending the country’s reliance on nuclear energy.

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6 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4060
Euro bail-out in doubt as "hysteria" sweeps Germany

 

Thanks to zerohedge for spotting this one. You might want to read their take on this too.

 

Euro bail-out in doubt as "hysteria" sweeps Germany (Ambrose Evans-Pritchard)

 

Johnny Oxygen's picture
Johnny Oxygen
Status: Diamond Member (Offline)
Joined: Sep 9 2009
Posts: 1443
Re: Euro bail-out in doubt as "hysteria" sweeps Germany

Good find Saxplayer.

Thanks

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Our Last fling.

The needle drills, is extended
Draws the substance from our bowels
Crack the fluid, make it potent
Find a vein, and inject it in.
Our logic's certain, The Model trusted.
The Money, friend, is the only thing.
The model's wrong, the poems all busted.
And this my friend, is our last fling.

Me

"Nature, to be commanded, must be obeyed." Heraclitus

And William Shakespear.

Then every thing include itself into power,
Power into will, will into appetite.
and appetite, a universal wolf
(So doubly seconded with will and power),
Must make perforce it's universal prey.
And last eat up himself.

 

The Master and his Emmissary. pp 327

 

Travlin's picture
Travlin
Status: Diamond Member (Offline)
Joined: Apr 15 2010
Posts: 1322
Yeah

Yeah.  What Johnny said.

Travlin 

earthwise's picture
earthwise
Status: Platinum Member (Offline)
Joined: Aug 10 2009
Posts: 846
Ron Paul: Rodney Dangerfield no more?

 

I sense a subtle sea change in the media's approach to Ron Paul since Jon Stewart's lampoon a few weeks back. Here, on Fox News Sunday, he demonstrates why he can no longer be dismissed as a fringe candidate.

http://video.foxnews.com/v/1133006273001/media-ignoring-ron-paul/

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Roll call

Sitrep from all, please.

How was your date with Irene?

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