Daily Digest

Daily Digest - February 21

Sunday, February 21, 2010, 10:43 AM
  • In The News Today: Jim Sinclair
  • Deconstructing the House
  • The ABCs of ETFs
  • The Left Vs. Right Smokescreen
  • Bad In The Broadest Sense
  • Mauldin: The Pain In Spain
  • Only 21% Say U.S. Government Has Consent of the Governed
  • Mongolian Harvard Elites Aim for Wealth Without ‘Dutch Disease’
  • It's a New Day for Credit Cards
  • Great Recession Fallout- Part I: Economic Mutations
  • It’s Official: Google Can Sell Power Like a Utility
  • America’s Wind Energy Potential Triples in New Estimate

Economy

In The News Today: Jim Sinclair (Davos)

"Effective April 1, 2010, we reserve the right to require (7) days advance notice before permitting a withdrawal from all checking accounts. While we do not currently exercise this right and have not exercised it in the past, we are required by law to notify you of this change," Citigroup said on statements received by customers all over the country.

Deconstructing the House (Davos)

Police say 35-year-old Daniel I. Clark was booked on suspicion of defrauding a secured creditor and criminal damage. Police say a neighbor of Clark's stopped an officer on patrol and reported that Clark was "deconstructing" his house.

The ABCs of ETFs (Davos)

Leveraged ETFs. Leveraged ETFs are funds that track 200% or even 300% of an index's daily returns by using options and derivatives. The key word here, however, is "daily," which means that over the long run, these ETFs may not truly mimic the price action of the underlying asset as well as they should be.

The Left Vs. Right Smokescreen (Davos)

The fact is that most Americans, the vast majority of Americans, are centrists in the sense that they hold views that are not extreme. One person may simultaneously hold so called “left” or “right” views depending on any one particular issue.

Why are the American people being conveniently divided up into two black and white categories that don’t even fit the majority of people to begin with?

Bad In The Broadest Sense (Davos)

Wisconsin Rep. Paul Ryan, ranking Republican on the House Budget Committee, says the current fiscal path will bring the U.S. government to bankruptcy.

Mauldin: The Pain In Spain (JRB)

While the eurozone can survive a Greek default or a serious Greek depression, Spain is another story. Spain is a very large country whose deficits, if not brought under control, could in fact tank the euro.

Only 21% Say U.S. Government Has Consent of the Governed (mhoop)

A new Rasmussen Reports national telephone survey finds that 61% disagree and say the government does not have the necessary consent. Eighteen percent (18%) of voters are not sure.

Mongolian Harvard Elites Aim for Wealth Without ‘Dutch Disease’ (Nickbert)

Mongolia’s billions of dollars worth of copper, gold, uranium and coal reserves promise the greatest influx of wealth for the country since Genghis Khan conquered much of the known world in the 13th century. They also may spawn a crisis. Sudden prosperity can overwhelm an economy, exposing it to commodity-price swings. Mongolia’s leaders, some educated at Harvard and Cambridge, say they are determined to avoid this syndrome, known as “Dutch Disease” -- a sudden surge in wealth that ultimately hampers expansion.

It's a New Day for Credit Cards (Nickbert)

For the first time in three years, credit-card issuers are ramping up their mailbox solicitations. But don't expect to see your father's credit-card appeals. Variable interest rates, higher annual fees and a host of new charges will be hidden in the fine print of these offers.

Great Recession Fallout- Part I: Economic Mutations (nncita)

The process--commodity price inflation combined with asset price deflation--is so devilishly gradual that we tend to adjust to it over time, and only by reviewing landmarks can we keep track of what is happening to us and our world as influenced by economic change.

Energy

It’s Official: Google Can Sell Power Like A Utility (Nickbert)

Google has said it wants to go carbon neutral. With the FERC order, it can now effectively erect as many solar panels and install as many fuel cells as it likes without worrying about having purchased too much capacity; the company can now sell off the extra power it generates. But more importantly, Google can now exploit its massive data centers to provide services for controlling power consumption in commercial buildings, industrial sites, and homes. It is largely a task that should be handed off to large computer rooms.

America’s Wind Energy Potential Triples in New Estimate (Nickbert)

Though new and better data was used to create the assessment, the big jump in potential generation reflects technological change in wind machines more than fundamental new knowledge about our nation’s windscape.

Please send article submissions to: [email protected]

19 Comments

GrouchoMarxist's picture
GrouchoMarxist
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Re: Daily Digest - February 21

Where's dat man ?... he must be busy practicing that 'ole saxophone of his . . .up and down them scales.

Bb_Groucho

saxplayer00o1's picture
saxplayer00o1
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Re: Daily Digest - February 21

Just posting today to say thanks for the comments yesterday from CM, Davos, VeganD, StephenLark, Xanthis, Robinson and GrouchoMarxist.

Tomorrow it's back to posting as usual. Thanks again.

 

 

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Davos
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Re: Daily Digest - February 21
saxplayer00o1 wrote:

Tomorrow it's back to posting as usual. 

+1 !!

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Re: Daily Digest - February 21

GrouchoMarxist - could it be a form of retraction we are seeing here - a type of apology for some unappreciative remarks made earlier? 

I look for Sax's stuff - it adds tremendous value to this site and I only read what I want to.  Good of you to recognize Sax's contribution!

Bruce

Non Member's picture
Non Member
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Re: Daily Digest - February 21

saxplayer00o1 - your efforts astound me. 

I do not know where you find time to gather all the pertinent articles but I sure do take time to read them.  Thanks for your contribution to this site. 

One side question, in light of the constant bad news articles we see daily, are you drawing from them inspiration for a bluesy repertoire are are you endeavoring to stay upbeat and positive in your saxaphone playing? 

Bruce

Davos's picture
Davos
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Re: Daily Digest - February 21

I pull about 25 blogs into my RSS reader.

I do not read them all, sometimes the headlines are enough for me to catch if the vitals have gotten better or worse.

I come here to read comments. A lot of what I read I don't interpret the way others do, I've gotten amazing insights from others and picked up on stuff I never would have without someone else turning the read up on its head and looking at it from another angle.

Not a day goes by where I don't find a gem on this blog, or some other good blog buried in the comments. 

There is no such thing as too much information. It is only too much if you try to parse it all. I skim for the diamonds and look at the diamonds closely.

rjs's picture
rjs
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Re: Daily Digest - February 21

im drawing a blank on Bad In The Broadest Sense, both here and at the Panzner site; does anyone know what software is needed to view that? (i have a current flashplayer)

Davos's picture
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Re: Daily Digest - February 21
rjs wrote:

im drawing a blank on Bad In The Broadest Sense, both here and at the Panzner site; does anyone know what software is needed to view that? (i have a current flashplayer)

Me also, worked yesterday afternoon and it was a super watch. One thing that CM could consider sticking on the solutions side of the site when he launches it. Basically he explained we were broke, needed to get government out of the health care business, give everyone 5k tax credit. Let people form pools. Let employers do health care or not do it, their option. We'd be able to buy health care over state lines. There would be price competition and also quality competition. I was grosly distracted when the Social Security part came on, but his emphasis was it won't work if it is continually looted. His plan got the nod from the GAO.

It sounded better than "Rahm"-ing a plan through that will just involve money we don't have and absolute idiot proven failures managing it.

rjs's picture
rjs
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Re: Daily Digest - February 21

thanx, Davos, but after i refreshed it worked for me...maybe the server was down?

Sam's picture
Sam
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Re: Daily Digest - February 21

Sure would like to hear what the group thinks about Bill Gate's TED talk re: energy.

www.popsci.com/technology/article/2010-02/video-bill-gates-agrees-obama-...

 

Sam's picture
Sam
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Re: Daily Digest - February 21

Double post, sorry.

 

Doug's picture
Doug
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Re: Daily Digest - February 21

I listened to Ryan's interview until he started talking about health care solutions.  He's bought and paid for just like most of the rest of Congress.  He wants to let the insurance industry keep raking us over the coals the way they have for decades, only worse.  The insurance industry is the problem, not the solution.

Doug

Davos's picture
Davos
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Re: Daily Digest - February 21
Doug wrote:

I listened to Ryan's interview until he started talking about health care solutions.  He's bought and paid for just like most of the rest of Congress.  He wants to let the insurance industry keep raking us over the coals the way they have for decades, only worse.  The insurance industry is the problem, not the solution.

Doug

That wasn't my take. I despise insurance companies. IMO the health care plan they are going to "Rahm" through will do what you say. Anything that can off 34 trillion in Medicare debt and make insurance more affordable and give businesses the option to participate is a good thing. Also, not looting Social Security just makes sense. Personally I think that fund should finance mortgages at a very low rate.

V's picture
V
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Re: Daily Digest - February 21

Sam

I got to 2:48 and quit. I am not the guy you probably want to hear from. Typical gloom and doom the sky is falling global warming crap. Climate changes all the time it has since the beginning. Now it is getting cooler. Lots of assumptions that all the effects will be negative based on computer models. GIGO

V

chwik's picture
chwik
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Re: Daily Digest - February 21

Greetings from Norway!

Soros - "The euro will face bigger tests than Greece"

http://www.ft.com/cms/s/0/88790e8e-1f16-11df-9584-00144feab49a.html

Disclaimer: I'm a big fan of Soros

guardia's picture
guardia
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Re: Daily Digest - February 21
V wrote:

I got to 2:48 and quit. I am not the guy you probably want to hear from. Typical gloom and doom the sky is falling global warming crap. Climate changes all the time it has since the beginning. Now it is getting cooler. Lots of assumptions that all the effects will be negative based on computer models. GIGO

Are you sure you want to take the chance?

Samuel

ddavis04's picture
ddavis04
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Re: Daily Digest - February 21

I've been following the changes to Money Market funds announced on Jan 27, 2010, to go into effect 60 days later.  It seems to me that the Fed is going to offload toxic MBS at full price to the money market mutual funds, so they can take the hit in retirement accounts.  Then the new plans being floated to convert 401k balances to annuities will be advertised as as a safety net for those who've lost so much in their money market account.  Very orchestrated.  

http://ex-skf.blogspot.com/2010/01/secs-new-rules-for-money-market-funds...

Donna

V's picture
V
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Re: Daily Digest - February 21

UH....... Samuel I seem to have already taken the chance. I am here on planet Earth in a human body. Just what exactly do you propose to do to change the climate? How would you make it better ? Do you know how? Are you aware of the law of unintended consequences ? Do you believe any scientist on the planet has a clue as to what is best long term for the planet?

The fact is if you believe in Peak Oil the problem is self correcting and anything you could possibly do will not have an affect for 100 years or more.

We will be using less carbon as a matter of necessity ...................we won't have it. So as Bobby McFerrin said 'Don't Worry Be Happy"  Or as Plato said on another thread I have more important things to worry about like how to grow radishes.

V

guardia's picture
guardia
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Posts: 592
Re: Daily Digest - February 21

You're making sense, V, nothing to add... Good luck with the radishes!

Besides, I liked Bill Gates's presentation. Even though he's as dumb as ever, I was relieved to find out that at least he won't be causing too much trouble. We just have to leave him alone, and he'll do fine playing with his billion dollar toys there... :)

Samuel

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