Daily Digest

Daily Digest 8/7 - T-Note Yield Record Low, Oil Tanker Attack Confirmed, Bat Extinction Imminent?

Saturday, August 7, 2010, 9:54 AM
  • Governments Go to Extremes as the Downturn Wears On
  • The Return Of The $1000-Down Mortgage
  • Treasury Two-Year Notes Gain for 10th Week in U.S.; Yield Falls to Record
  • A Wealthy Stimulus Needed 
  • Battle Looms Over Huge Costs of Public Pensions
  • U.S. Sanctions On Iran May Exempt Oil Exports
  • UAE: Japanese Tanker Attacked In Persian Gulf
  • Ameren's Coal Carbon-Capture Plant Gets $1 Billion From Obama
  • A Common Sight In Night Skies, Bat Now Faces Extinction In New England
  • Investors Fear Re-Run Of Great Grain Robbery

Crash Course DVDOwn the Crash Course DVD – share the message of the Three E’s with those you care about (NTSC or PAL)

Economy

Governments Go to Extremes as the Downturn Wears On (jdargis)

Faced with the steepest and longest decline in tax collections on record, state, county and city governments have resorted to major life-changing cuts in core services like education, transportation and public safety that, not too long ago, would have been unthinkable. And services in many areas could get worse before they get better.

The Return Of The $1000-Down Mortgage

It sounds too good to be true. But it is true. This offer does not come from a subprime lender, looking to reel in thousands of unqualified and ill-advised homebuyers, only to slap them with add-ons, fees and variable rates. It is not a teaser or a trick. The advertisement references a program initiated by the National Council of State Housing Agencies and Fannie Mae, the taxpayer-backed, government-sponsored enterprise that buys up mortgages from lending banks.

Treasury Two-Year Notes Gain for 10th Week in U.S.; Yield Falls to Record (jdargis)

“The theme of the week has been weak data and further deflationary concerns supporting Treasuries, which makes the possibility of more quantitative easing plausible,” said Jason Rogan, director of U.S. government trading in New York at Guggenheim Partners LLC, a brokerage for institutional investors. “Job creation is not coming as quickly as people would like, and the Fed has been pretty candid that it’s willing to stay on hold and do more if necessary.”

    Crash Course DVDOwn the Crash Course DVD – share the message of the Three E’s with those you care about (NTSC or PAL)

A Wealthy Stimulus Needed (JimQ)

Official spokesperson for the wealthy Larry Ellison, CEO of Oracle who “earned” $1.84 billion over the last decade while shareholders received a negative 45% return on their investment, has announced a dramatic cutback in his lifestyle. He has voluntarily agreed to reduce his compensation to $1.83 billion over the next decade while cutting back on his yacht racing from 4 days per week to 3 days per week. The impact on the San Jose economy could be devastating.

Battle Looms Over Huge Costs of Public Pensions (jdargis)

Given how wrong past pension projections were, who should pay to fill the 13-figure financing gap? Consider what’s going on in Colorado — and what is likely to unfold in other states and municipalities around the country.

Energy

U.S. Sanctions On Iran May Exempt Oil Exports (cmartenson)

“Sanctions being imposed on Iran are creating problems for Korean firms, and the Korean government is reviewing ways to minimize the damage,” Knowledge Economy Minister Choi Kyung-hwan told reporters yesterday. “The oil sector, however, isn’t likely to be included in the sanctions against Iran.”

Another ministry official said oil exports would probably be kept off the sanctions list because it would disrupt the global supply of oil, causing a sharp rise in the oil price and “the United States wouldn’t want that to happen.”

UAE: Japanese Tanker Attacked In Persian Gulf (Crash Watcher)

The United Arab Emirates said Friday that a Japanese oil tanker was hit by an explosives-laden dinghy in the Persian Gulf in what would be the first attack in the strategic waterway where millions of barrels of oil are transported each day.

The report — which came days after an al-Qaida-linked group claimed responsibility for attacking the vessel — raised fears about the vulnerability of the Strait of Hormuz, a vital shipping lane for many petroleum exporting countries.

Ameren's Coal Carbon-Capture Plant Gets $1 Billion From Obama (jdargis)

The FutureGen 2.0 project will revamp a 200-megawatt unit at Ameren’s plant in Meredosia, Illinois, Energy Secretary Steven Chu and Senator Dick Durbin, an Illinois Democrat, said in an e-mailed statement yesterday. Babcock & Wilcox Co. and a group of energy companies are participants in the plan.

Environment

A Common Sight In Night Skies, Bat Now Faces Extinction In New England (David B.)

“We don’t pretend to be fortune tellers . . . but we’re very worried,’’ said Winifred F. Frick, a postdoctoral researcher at BU and the University of California, Santa Cruz, who was the lead author of the paper in the journal Science. “The loss of so many bats is basically a terrible experiment in how much these animals matter for insect control."

Investors Fear Re-Run Of Great Grain Robbery (cmartenson)

“There has not been such a long drought here for more than one hundred years,” he adds, with an air of resignation. The grain crop at the 8,000 hectares of farmland he manages has been halved by the lack of rain.

He is not alone in facing a ruined crop. In the area around Nizhny Novgorod, about 400km east of Moscow, officials fear the grain harvest will drop to 600,000 tonnes, less than half last year’s 1.4m. “It’s a disaster,” says Alexander Efremtsev, at the Nizhny Novgorod Grain Union.

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

Adam Taggart's picture
Adam Taggart
Status: Peak Prosperity Co-founder (Offline)
Joined: May 26 2009
Posts: 3212
Re: Daily Digest 8/7 - T-Note Yield Record Low, Oil Tanker ...

FYI: A Financial Sense interview Chris gave on personal preparation posted today and is available for listening to at http://www.financialsense.com/financial-... (starts at min 29 of the "Urban Survival" mp3)

DRHolden's picture
DRHolden
Status: Silver Member (Offline)
Joined: Oct 18 2009
Posts: 131
Re: Daily Digest 8/7 - T-Note Yield Record Low, Oil Tanker ...
menlobear wrote:

FYI: A Financial Sense interview Chris gave on personal preparation posted today and is available for listening to at http://www.financialsense.com/financial-... (starts at min 29 of the "Urban Survival" mp3)

I like the Hawaii 5 0 music at the end of the interview.  Makes me think of a tsunami coming our way

Woodman's picture
Woodman
Status: Diamond Member (Offline)
Joined: Sep 26 2008
Posts: 1028
Re: Daily Digest 8/7 - T-Note Yield Record Low, Oil Tanker ...

Great interview by Chris on Financial Sense today;  I really like the emphasis on Resilency.

JAG's picture
JAG
Status: Diamond Member (Offline)
Joined: Oct 26 2008
Posts: 2492
NIA Video: Japan & America

For all you hyperinflation lover's out there, check out this video from the NIA:

Even though I disagree with the content and conclusions of the video, the production quality is pretty good. I'm sure Mr. Hendry was overjoyed that he had a starring role in a Hyper flick, lol

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