Daily Digest

Daily Digest 9/17 - Poverty In America, U.S. Decline Watch, China Holds Grip On Rare Earths

Saturday, September 17, 2011, 10:47 AM
  • Poverty In America: A Special Report
  • Introducing 'Decline Watch'
  • Europe's Response To Geithner's Advice: "I'd Like To Hear How The United States Will Reduce Its Deficits ... And Its Debts"
  • Credit Crisis the Result of Greatest Financial Crime in World History
  • Book Details Dissension in Obama Economic Team
  • Amnesty Program Yields Millions More in Back Taxes
  • Danes vote for their first female prime minister
  • China Consolidates Grip on Rare Earths
  • Market Risks Are Seen in Energy Innovations

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

Economy

Poverty In America: A Special Report (pinecarr)

America is fundamentally changing. We were a nation that had the largest middle class in the history of the globe, but now we are becoming a nation that is deeply divided between the haves and the have nots.

Introducing 'Decline Watch' (jdargis)

We don't intend this to be an excercise in schadenfreude -- we're Americans ourselves and don't wish any misfortune on the country -- but there does seem to be an emerging conventional wisdom on American decline in the foreign-policy media that's worth tracking. We'll also hopefully use the column to puncture a few bogus decline trend stories.

Europe's Response To Geithner's Advice: "I'd Like To Hear How The United States Will Reduce Its Deficits ... And Its Debts" (pinecarr)

Alas, as Tim has found the hard way, being one of the biggest offendors when it comes to collapsed economies does take away from his credibility.

Credit Crisis the Result of Greatest Financial Crime in World History (pinecarr)

The S&L Crisis was the last major case of domestic fraud resulting not only in major U.S. bank failures but also thousands of convictions across the financial industry. However, today's crisis is vastly bigger, with many more players involved, and yet, not one person has been convicted or gone to jail. In the following transcript, William Black gives a behind the scenes look at events leading up to our current situation, who in the government needs to go, and other key details that will probably suprise you.

Book Details Dissension in Obama Economic Team (jdargis)

The book offers a portrait of a White House operating under intense pressure as it dealt with a cascade of crises, from insolvent banks to collapsing carmakers. And it details the rivalries among figures around the president, including Mr. Summers; Mr. Geithner; the former chief of staff, Rahm Emanuel; and the budget director, Peter R. Orszag.

Amnesty Program Yields Millions More in Back Taxes (jdargis)

The United States began its most recent offensive against offshore tax evasion in 2009, when the Justice Department reached a settlement with the Swiss bank UBS that required it to pay $780 million and reveal details about 4,500 clandestine accounts that were believed to hold undeclared assets of United States residents. Although the Swiss government has yet to authorize the release of information about those accounts, Douglas H. Shulman, the I.R.S. commissioner, said that the agency would continue to pressure tax evaders to come forward or face prosecution.

Danes vote for their first female prime minister (jdargis)

The social democratic win bucked the trend of politics in Europe where the centre-left has been in the doldrums, unable to capitalise on the fallout from the 2008 financial and economic crisis and stagnation in the EU while also failing to come up with attractive policies on other potent issues such as immigration and Islam.

Energy

China Consolidates Grip on Rare Earths (Mike K.)

In the name of fighting pollution, China has sent the price of compact fluorescent light bulbs soaring in the United States.

By closing or nationalizing dozens of the producers of rare earth metals — which are used in energy-efficient bulbs and many other green-energy products — China is temporarily shutting down most of the industry and crimping the global supply of the vital resources.

Market Risks Are Seen in Energy Innovations (jdargis)

The same market forces that doomed Solyndra, the solar cell manufacturer that received $528 million in government loans and then went bankrupt, could imperil other manufacturing ventures that have received loan guarantees from the Energy Department, energy experts warned this week.

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."

8 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4145
littlefeatfan's picture
littlefeatfan
Status: Silver Member (Offline)
Joined: Jul 20 2009
Posts: 141
Woodman's picture
Woodman
Status: Diamond Member (Offline)
Joined: Sep 26 2008
Posts: 1028
saxplayer00o1
saxplayer00o1 wrote:

  Geithner Warning of ‘Catastrophic Risk’ Highlights Gap With EU (Don't miss reading all of this one)

 

Geithner getting rebuffed should be no surprise; who are we to advise the Eurpopeans when we have a huge debt problem ourselves!

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
For whatever ails you.

I include this video for whatever ails you.

 

View it in full sceen with your finest audio.

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Birdie in the Basket.

A little birdie told me that the rich in England are asking their government to tax them more.

Could it be that they lived close enough to Madam Guillotine to hear the tumbrils and the clickity clack of knitting needles?

Nice basket.

Are we going on a picnic then?

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

My profound apologies for posting the above video.

I was unaware that there is a higer definition version that is much better.

It can be found here. I hope that I have not spoiled it for you.

technet's picture
technet
Status: Member (Offline)
Joined: Mar 18 2011
Posts: 16
The Latin American / Mexican Economic Model

if you ask me the entire world is moving into the latin / mexican economic model where most of the population relatively happy but living in a state of squalor and poverty are lorded over by a bunch of corrupt insiders and gangsters, who systematically paralyse and bankrupt the government, fleece the country of its resources and help themselves to whatever they want so they can live in a state of abject greed .... wealth for the sake of it, with so many servants, houses, possessions, that they don't know what to do with them all so that mainly they just sit their going to waste.

 

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