Daily Digest

Daily Digest - July 15

Thursday, July 15, 2010, 9:52 AM
  • Gold Daily Chart and an Elliot Wave Count From Lannie Cohen
  • Dumping The Dollar: Why It’s Time To Diversify
  • Jim Grant Is Confident QE 2.0 Is Just Around The Corner
  • Will Sprott's Brand New Physical Silver Trust Become JPMorgan's Biggest Nightmare?
  • Silver On The Up
  • More Oil Spills To Come, Says WUSTL Anthropologist
  • India Considers Banning Rare Earth Exports
  • Greener Pastures
  • More Than 1,000 Exposed To Dengue In Florida

Economy

Gold Daily Chart and an Elliot Wave Count From Lannie Cohen (Davos)

Betting against gold is the same as betting on governments. He who bets on governments and government money, bets against 6,000 years of recorded human history." Charles de Gaulle.

Dumping The Dollar: Why It’s Time To Diversify (pinecarr)

Imagine a world without the almighty greenback as the main reserve currency. It's not an easy thought. The U.S. dollar has long been the global currency of choice. As much as 64% of the world's currency reserves are held in greenbacks, according to the International Monetary Fund. But given the manic ups and downs of the dollar in recent years, it may finally be time to diversify the world's reserves. And that's exactly what some central bankers around the globe are now doing.

Jim Grant Is Confident QE 2.0 Is Just Around The Corner (pinecarr)

Jim Grant, one of the most respected voices in the financial industry, joins Zero Hedge and others, who see that the only choice the Federal Reserve has now that the temporary and shallow reprieve from the clutches of the deflationary depression is over, is to print more money in the form of another iteration of QE.

Will Sprott's Brand New Physical Silver Trust Become JPMorgan's Biggest Nightmare? (pinecarr)

The Canadian asset manager is launching a comparable physical ETF, this time investing with silver: the Sprott Physical Silver Trust. This is not looking good for the LBMA and JPM - since the silver market is allegedly even tighter than gold, yet just as manipulated by JPM and the LBMA.

Silver On The Up (humor, pinecarr)

In short, all the silver that was mined and refined since 1900 was used to create the gigantic electronic-based and electrical-powered economies of, mainly, America and Europe, and now that the silver has been used and thus disappeared, here comes China to need twice as much silver as was used by America and Europe!

Energy

More Oil Spills To Come, Says WUSTL Anthropologist (Ivo M.)

“BP and other oil companies have tried to portray this spill as an accident or an aberration, but in fact there are spills on off-shore and on-shore sites around the world, increasingly,” says Bret Gustafson, PhD, associate professor of anthropology in Arts & Sciences. Gustafson teaches a course on “Oil Wars: America and the Cultural Politics of Global Energy."

India Considers Banning Rare Earth Exports (Jeff B.)

"It will be good to completely ban iron ore exports as these are non-renewable resources,” Atul Chaturvedi, secretary for India’s steel ministry, told the Financial Times on Monday. “Once you exhaust them, you won’t get them [again].”

New Delhi already imposes export taxes on iron ore. Mr. Chaturvedi also told FT the government may go even farther, to the point of banning coal and oil exports as well.

Environment

Greener Pastures (VeganD)

Enormous research efforts have been made to understand and reverse desertification, but until recently, and with one remarkable exception, to no avail. That exception, Operation Hope, has transformed 6,500 acres of of parched and degraded grasslands in Zimbabwe into lush pastures replete with ponds and flowing streams - even during periods of drought.

Surprisingly, this was accomplished through a dramatic increase in the number of herd animals on the land. Behind Operation Hope is an approach called “holistic management,” which they apply to rangeland practice. Developed over the past 50 years by Operation Hope founder Allan Savory, a former wildlife biologist, farmer, and politician, it challenges the dominant theory that desertification is caused by overgrazing.

More Than 1,000 Exposed To Dengue In Florida (VeganD)

Most probably did not even know it, but the findings show the sometimes deadly infection is making its way north into the United States, the researchers said.

"We're concerned that if dengue gains a foothold in Key West, it will travel to other southern cities where the mosquito that transmits dengue is present, like Miami," said Harold Margolis, chief of the dengue branch at the U.S. Centers for Disease Control and Prevention. 

Please send article submissions to: [email protected]

28 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4238
Re: Daily Digest - July 15

 

"WASHINGTON (MarketWatch) -- It could take five to six years before the U.S. economy is fully healed from the Great Recession of 2008, officials at the Federal Reserve said Wednesday.

More years of high unemployment. More years of skirting with deflation. More years of ultra-low interest rates, and more years of deleveraging.

The Federal Open Market Committee released its economic forecast on Wednesday, and it was dismal."

........................1A) US Fed weighs new measures as recovery falters

"WASHINGTON: The Federal Reserve revealed it was weighing new measures to keep the faltering US recovery on track on Wednesday, warning jobs and growth will be tougher to regain than expected. "

""The committee would need to consider whether further policy stimulus might become appropriate if the outlook were to worsen appreciably," the minutes said.

But with interest rates at all-time lows, experts say the Fed has few tools at its disposal. "

 

"Spain, which has to repay 24.7 billion euros of debt this month, has the third-largest deficit in the euro region and its banks are dependent on the European Central Bank for funds. Prime Minister Jose Luis Rodriquez Zapatero risks losing power as he pushes through austerity measures including cutting workers’ hours, freezing pensions and reducing severance pay.

Today’s auction raised the maximum offered at an average yield of 5.116 percent, compared with 4.434 percent at a sale of the same securities on April 22, the Bank of Spain said. "

"ISLAMABAD: The country has been left with petrol reserves for just three days while diesel reserves can last 11 days with Pakistan State Oil (PSO) facing default unless Rs.60 billion is paid immediately.

This was disclosed by Managing Director PSO, Irfan Qureshi while briefing the sub-committee of Public Accounts Committee which met here Wednesday under the chairmanship of MNA Zahid Hamid at the Parliament House."

"The number of U.S. homes taken back by banks through foreclosure hit a record high in the second quarter, even as lenders delayed more homes from entering the process through short sales and loan modification efforts, according to data to be released Thursday.

This growing supply of lender-owned properties could set back the nation's housing recovery but probably won't sink it completely if the nation's employment situation doesn't deteriorate further and the economy begins to pick up steam, experts said. Sales of homes have faltered nationally in recent months with the expiration of government tax incentives for buyers."

..................4A) Homes lost to foreclosure on track for 1M in 2010

"LOS ANGELES (AP) -- More than 1 million American households are likely to lose their homes to foreclosure this year, as lenders work their way through a huge backlog of borrowers who have fallen behind on their loans.

Nearly 528,000 homes were taken over by lenders in the first six months of the year, a rate that is on track to eclipse the more than 900,000 homes repossessed in 2009, according to data released Thursday by RealtyTrac Inc., a foreclosure listing service.

"That would be unprecedented," said Rick Sharga, a senior vice president at RealtyTrac.

By comparison, lenders have historically taken over about 100,000 homes a year, Sharga said."

...................4B) Banks repossess homes at record pace: RealtyTrac

....................4C) Midway into 2010, 1.65M Properties Have Received Foreclosure Filings

"His advice for the average investor: “You don't want to get in the market,” he says. “For the next couple of years, just be happy if you don’t lose money.”

When will it be safe to go back in the water? Not until the market experiences a lot more pain, he forecasts. Don’t bet on stocks for the long haul, “until you get below 7000. And preferably if you wait till 5000, which is my downside target on the Dow Jones.” "

Many New Jersey municipalities will likely pay 12 percent more for their employees' health insurance next year, an increase that's lower than last year and outside the new 2 percent cap on property tax increases.

That means towns could raise property taxes above the 2 percent cap to cover the costs of the rate increases, without asking voters, because health insurance costs are one of several exceptions to the cap.

 “It absolutely is possible,” said William Dressel, executive director of the New Jersey League of Municipalities. “This is a property tax driver. This is a poster child example of why an artificial spending limitation is not ... sensitive to the fiscal realities of the day.”

State consultants Wednesday recommended the state raise rates 11.7 percent for counties and municipalities, and 5.7 percent for school districts. The two boards that govern the state plans will vote next week on the recommendations, which historically are approved."

.........................6A)  New Jersey Towns May Exceed Tax Cap as Costs Surge

  • Other news and headlines:

Goldman Sachs lifts gold forecast to $1355/ounce

OECD Pensions Remain Nearly 10% Below Pre-Crisis Levels

Polish Bond Draws Fewest Bids in 10 Months on Faster Inflation

UK pension deficit hits $152 billion

Dallas city manager expects to cut 500 jobs

School district increases student parking fees from $25 to $100 (SC)

Moody's downgrades 8 Portuguese banks

McGinn proposes $20 car-tab fee, higher parking lot taxes (Seattle)

Car Crash Clean Up Fee Approved, Expected To Bring in $626K for City (SF)

Peoria may see green from yard waste fee proposal

Harrisburg controller outlines plan to save city

'District broke … we have no cash' (Deleware)

Lost decade: The new threat to the US economy (CNN Money)

Maine faces a burgeoning pension crisis

idoctor's picture
idoctor
Status: Diamond Member (Offline)
Joined: Oct 4 2008
Posts: 1731
alcatwize's picture
alcatwize
Status: Bronze Member (Offline)
Joined: Dec 24 2008
Posts: 78
The last 30 or 40 years in a nutshell

In an attempt to make it real easier and to simplify our status as a nation from a really high level, I give the following...

The rest of the world took on the American capitalistic spirit (or entrepreneurial spirit, whatever one wants to call it) and was willing to work very hard for a LOT less money.  Because of this, American companies started giving these people jobs in an effort to boost their bottom line... and it worked for big business, but not without consequence.  The consequence was (and still is) a lower standard of living, through lower wages, for the blue collar (and now white collar) worker in America. Unfortunately, the immediate impact of this lower standard of living was abated for some time (the can was kicked down the road), by our new fascination of easy credit.  It was the ability to borrow from our future earning potential so that the present day pain wasn’t quite as bad.  Basically, it was an economical denial syndrome.  The amazing fact being that we managed to stay in the euphoric state for so long.  But like with any good HIGH, one always comes down from it.  Debt saturation finally ended the party.  We no longer have the ability to service our debt.  We have borrowed and borrowed from our future so significantly that there is nothing left.  Now we are left with no money and no jobs (like paving roads is going to fix that problem).  What is the solution??????  Well, that's even harder to solve.  Rising pay wages around the world would help, but that seems unlikely to happen in the near term since there are still so many people in the world willing to work for almost nothing.  The only other option is protectionism and protectionism apparently is the modern day four letter word.  Well there we are, now starring at the abyss.  I welcome other comments or suggestions on this current PREDICIMENT.

Johnny Oxygen's picture
Johnny Oxygen
Status: Diamond Member (Offline)
Joined: Sep 9 2009
Posts: 1443
Re: The last 30 or 40 years in a nutshell

What is the solution??????

Let the top heavy system just keel over and collapse and let a truly free market sort it out.

Rising pay wages around the world would help, but that seems unlikely to happen in the near term since there are still so many people in the world willing to work for almost nothing.

I think there is a possibility you might consider that maybe a new paradigm will take over for the very reason you mentioned. I think its likely that we could see a worldwide shift to a type of feudalism that is call capatalism. Some could argue that we are already in it. With a enormous transfer of worldwide wealth going to an extremely small percentage of people jobs and wages could be controlled by that very minority that holds all the power. Maybe it will be sold to us wrapped up in a flag.

Poet's picture
Poet
Status: Diamond Member (Offline)
Joined: Jan 21 2009
Posts: 1892
Daily Digest Over Months Like Watching A Slow Motion Car Crash

 

Economic Collapse
It's like watching a car crash in excruciatingly slow motion. Every day, the bad news keeps showing up. Signs of distress everywhere. Millimeters of the fender and hood continue to  crunch incrementally as the first cracks in the windshield appears.

You can see the writing on the wall. The collapse will happen.

War With Iran?
That said, while I haven't read Dr. Martenson's paper on "Growth and the Upcoming Iranian War" (not a paid member), I suspect that if we're still having serious problems and massive debts incurred fighting a nation of 30 million people (Iraq), we likely will have even more problems against a country with 74 million people in a land larger than Calfornia, Montana, and Texas combined.

Poet

chenqi's picture
chenqi
Status: Member (Offline)
Joined: Jul 15 2010
Posts: 8
Cases of dengue fever reported in Florida

A recent report by the Centers for Disease Control and the Florida Department of Health warned that dengue fever, a mosquito-borne illness that has severe but rarely fatal symptoms, has shown up in Key West and could spread further up into Florida.

(Read more from this Examiner on health and safety.)

According a story by CNN, the report says that about 5 percent of Key West residents -- or about 1,000 people -- were exposed to the dengue virus in 2009, and,  "so far this year, there have been 12 confirmed cases of dengue in the Key West area."

ChenQi - The World of Micro-Organism

SagerXX's picture
SagerXX
Status: Diamond Member (Offline)
Joined: Feb 11 2009
Posts: 2252
GoM gusher capped?

This from AP (by way of Yahoo!):

http://news.yahoo.com/s/ap/20100715/ap_on_bi_ge/us_gulf_oil_spill

It's almost impossible to believe they got it right.  But the original report was from 2:25 p.m. EST (it's now 4 p.m.) and there's been no update saying the original report is incorrect...

Crossing my fingers -- Sager

alcatwize's picture
alcatwize
Status: Bronze Member (Offline)
Joined: Dec 24 2008
Posts: 78
The U.S. Middle Class Is Being Wiped Out

Giant Sucking Sound

The reality is that no matter how smart, how strong, how educated or how hard working American workers are, they just cannot compete with people who are desperate to put in 10 to 12 hour days at less than a dollar an hour on the other side of the world. After all, what corporation in their right mind is going to pay an American worker 10 times more (plus benefits) to do the same job? The world is fundamentally changing. Wealth and power are rapidly becoming concentrated at the top and the big global corporations are making massive amounts of money. Meanwhile, the American middle class is being systematically wiped out of existence as U.S. workers are slowly being merged into the new "global" labor pool.

What do most Americans have to offer in the marketplace other than their labor? Not much. The truth is that most Americans are absolutely dependent on someone else giving them a job. But today, U.S. workers are "less attractive" than ever. Compared to the rest of the world, American workers are extremely expensive, and the government keeps passing more rules and regulations seemingly on a monthly basis that makes it even more difficult to conduct business in the United States.

So corporations are moving operations out of the U.S. at breathtaking speed. Since the U.S. government does not penalize them for doing so, there really is no incentive for them to stay.

What has developed is a situation where the people at the top are doing quite well, while most Americans are finding it increasingly difficult to make it. There are now about six unemployed Americans for every new job opening in the United States, and the number of "chronically unemployed" is absolutely soaring. There simply are not nearly enough jobs for everyone.

Many of those who are able to get jobs are finding that they are making less money than they used to. In fact, an increasingly large percentage of Americans are working at low wage retail and service jobs.

But you can't raise a family on what you make flipping burgers at McDonald's or on what you bring in from greeting customers down at the local Wal-Mart.

The truth is that the middle class in America is dying -- and once it is gone it will be incredibly difficult to rebuild.

pinecarr's picture
pinecarr
Status: Diamond Member (Offline)
Joined: Apr 13 2008
Posts: 2259
Re: Daily Digest - July 15
Poet wrote:

Economic Collapse
It's like watching a car crash in excruciatingly slow motion. Every day, the bad news keeps showing up. Signs of distress everywhere. Millimeters of the fender and hood continue to  crunch incrementally as the first cracks in the windshield appears.

You can see the writing on the wall. The collapse will happen.

I agree, Poet!  I have also felt like we are living in slow motion, the crash happening all around us, but so slowly that many do not yet recognize it for what it is, or where it is heading. -And "excruciating" is a good way to describe it!

V's picture
V
Status: Platinum Member (Offline)
Joined: Dec 14 2009
Posts: 849
Re: The U.S. Middle Class Is Being Wiped Out

alcatwize

This is old news. The destruction of the middle class started a long time ago. It picked up steam under Reagan and has accelerated ever since. The international bankers cannot have the society they envision with any country having a strong middle class for obvious reasons. International organizations like the IMF, World Bank, BIS, WTO  have no interest in creating or preserving a strong middle class. The policies for economies, energy and the environment are decided behind closed doors by people who are not members of the middle class. It then gets elucidated and put into action through meetings like the G20.

There is only one question............."whatcha gonna do about it?"

There is only one answer............." fugeddaboutit"

V

Poet's picture
Poet
Status: Diamond Member (Offline)
Joined: Jan 21 2009
Posts: 1892
Re: The U.S. Middle Class Is Being Wiped Out
alcatwize wrote:

The reality is that no matter how smart, how strong, how educated or how hard working American workers are, they just cannot compete with people who are desperate to put in 10 to 12 hour days at less than a dollar an hour on the other side of the world. After all, what corporation in their right mind is going to pay an American worker 10 times more (plus benefits) to do the same job? The world is fundamentally changing. Wealth and power are rapidly becoming concentrated at the top and the big global corporations are making massive amounts of money. Meanwhile, the American middle class is being systematically wiped out of existence as U.S. workers are slowly being merged into the new "global" labor pool.

Great quote from Michael Snyder in his article Business Insider!

22 Statistics That Prove The Middle Class Is Being Systematically Wiped Out Of Existence In America
by Michael Snyder

http://www.businessinsider.com/22-statistics-that-prove-the-middle-class...

P.S. - Don't hate the workers in other countries who are just trying to get by. A lot of businesses with factories in China are now relocating to Vietnam and Cambodia for even cheaper wages even as they originally were in Taiwan and Japan in the 1970s and 1980s before China. (I think the next countries those factories will relocate to, will be in Africa.) Hate the pure capitalistic business model and it's soulless nature.

 

Subprime JD's picture
Subprime JD
Status: Platinum Member (Offline)
Joined: Feb 17 2009
Posts: 562
Re: Daily Digest - July 15

V said,

This is old news. The destruction of the middle class started a long time ago. It picked up steam under Reagan and has accelerated ever since. The international bankers cannot have the society they envision with any country having a strong middle class for obvious reasons. International organizations like the IMF, World Bank, BIS, WTO  have no interest in creating or preserving a strong middle class. The policies for economies, energy and the environment are decided behind closed doors by people who are not members of the middle class. It then gets elucidated and put into action through meetings like the G20.

There is only one question............."whatcha gonna do about it?"

There is only one answer............." fugeddaboutit"

V

Truer words have never been spoken. Sigh..

However, once can at least prepare and be mindful of their ever present traps.

middleclassamerican's picture
middleclassamerican
Status: Member (Offline)
Joined: Apr 16 2010
Posts: 19
Re: Daily Digest - July 15

alcatwize

Well put, the middle class is dying and this is a result of government policy.  We must realize this and vote this fools out.  We need term limits in the senate, we need LOWER taxes and health care reform (not Obama care).  We must relieve business of the burdens that make american workers more expensive, taxers and the high cost of health care.  But we are going in the opposite direction and creating more government jobs that are unproductive and don't create wealth, and the private sector has to pay for these jobs.  IF we lower taxes both income and corporate, America becomes a more attractive place to do business.

The most important thing History teaches us is that revolution is a result of pushing the middle class into the poor class, this results in revolution every time because the middle class has the ability to organize and overthrow the ones responsible.  We must vote these clowns out and restore the constitution and shrink the federal government. We need politicians that understand and want the country to prosper not politicians who are simply focused on re-election.  

LogansRun's picture
LogansRun
Status: Diamond Member (Offline)
Joined: Mar 18 2009
Posts: 1444
Re: Daily Digest - July 15

I think you're stuck in the mire of "vote the bums out!".  This is NOT an issue with government policy.  It's an issue with who's actually running the government.  And if you haven't figured this out, it's not our so called President or anyone else that's been elected.  Get over the R vs. L paradigm and enter the real world.  

middleclassamerican wrote:

alcatwize

Well put, the middle class is dying and this is a result of government policy.  We must realize this and vote this fools out.  We need term limits in the senate, we need LOWER taxes and health care reform (not Obama care).  We must relieve business of the burdens that make american workers more expensive, taxers and the high cost of health care.  But we are going in the opposite direction and creating more government jobs that are unproductive and don't create wealth, and the private sector has to pay for these jobs.  IF we lower taxes both income and corporate, America becomes a more attractive place to do business.

The most important thing History teaches us is that revolution is a result of pushing the middle class into the poor class, this results in revolution every time because the middle class has the ability to organize and overthrow the ones responsible.  We must vote these clowns out and restore the constitution and shrink the federal government. We need politicians that understand and want the country to prosper not politicians who are simply focused on re-election.  

middleclassamerican's picture
middleclassamerican
Status: Member (Offline)
Joined: Apr 16 2010
Posts: 19
Re: Daily Digest - July 15

Logan's Run,

I'm not in the R vs L paradigm or mired in "get the bums out."  I agree it matters not which is elected for they are both the same.  We need leaders who are not concerned with re-election, but rather what is best for the citizens of our nation.  I agree, vote the current bum out and you get a new bum be it R or L (with the exception of few, the Paul's and Schiff.  To your point of who runs the country it is the the ones who can pay the bums the most money.  That to must stop!  We are at a point where we need to fix the debt crisis no mater how painful that may be.  IF we continue down this road and don't solve it now, the world will never be the same in our lifetimes!  We are within 10 years of default if things don't change.  Your Solution is?

rvwainscott's picture
rvwainscott
Status: Member (Offline)
Joined: Aug 31 2008
Posts: 9
Re: The U.S. Middle Class Is Being Wiped Out
V wrote:

There is only one question............."whatcha gonna do about it?"

There is only one answer............." fugeddaboutit"

Greetings,

That is the real question here isn't it?  What are WE going to do about it.  Given that Government is nothing more than a monopoly on the use of violence, we are left with limited choices.  We could stand in the streets and wave signs around but i can't help but notice that when Government wants us to do something it does not stand in the streets and wave signs around for us to read.  No way, when Government wants something, they back that request up with the threat of force. 

This is an All or Nothing situation and we shouldn't discuss "revolution" unless we really mean it because Uncle Sam will respond with terrible violence should it come to that. 

Sherman's March readily comes to mind.

joemanc's picture
joemanc
Status: Martenson Brigade Member (Offline)
Joined: Aug 16 2008
Posts: 834
Re: Daily Digest - July 15
LogansRun wrote:

I think you're stuck in the mire of "vote the bums out!".  This is NOT an issue with government policy.  It's an issue with who's actually running the government.  And if you haven't figured this out, it's not our so called President or anyone else that's been elected.  Get over the R vs. L paradigm and enter the real world.  

Yes, because 535 members of Congress, previous members of Congress, thousands of staffers, government employees, media people, etc., etc. can keep this all a secret. They are too incompetent to be controlled by some higher authority. The government is not evil, they are incompetent.

V's picture
V
Status: Platinum Member (Offline)
Joined: Dec 14 2009
Posts: 849
Re: Daily Digest - July 15

middleclassamerican

We don't need leaders. This is the faulty paradigm that got us here. It is not what Jefferson and the boys had in mind. That only leaves us as sheeple.

What we need is representatives who will do ALL the peoples business. In any event the entire premise of the CC is the world will be very different no matter what we do. There are no solutions to predicaments. There are strategies for dealing with the eventualities of our predicament. What will be done to deal with the debt crisis in all likelihood is Heliben will put as many pixels into the computer as he can. He will attempt to inflate us out of our predicament. It will be an abject failure. The IMF/BIS will institute a one world currency which the American sheeple will swallow hook line and sinker as some good looking , telegenic president tells them we have no choice but to ignore the Constitution and allow the international bankers to control not only our currency but the currency of the entire world.

Game , set , match, checkmate.............stick a fork in us we are done. Or as Nicholas Rockefeller said to Aaron Russo " What are you worrying about all those other people for? Just take care of your family"

V

 

chenqi's picture
chenqi
Status: Member (Offline)
Joined: Jul 15 2010
Posts: 8
West Nile virus case confirmed in Louisiana

West Nile virus case confirmed in Louisiana

State health officials have announced Louisiana's first West Nile virus case of 2010, with tests confirming that an East Baton Rouge Parish resident has the least serious form of the potentially deadly condition, despite displaying no symptoms.

Friday July 16th -- The Department of Health and Hospitals used the to warn Louisiana residents to elminate standing water where possible and take precautions to avoid mosquito bites, the manner in which humans contract the virus.
"No matter what time of year it is, and no matter how active the season, it is important for residents to take preventive steps to control the mosquito population," said state epidemiologist Dr. Raoult Ratard.

Specifically, the department recommended that residents keep roof gutters clear of debris; keep swimming pools and water gardens clean, avoiding stagnate water; drill drainage holes in the base of open garbage and recycling bins; and rid their property of tins cans, ceramic pots and other unused outdoor containers that can collect water.

West Nile infections manifest in three ways. About 90 percent of the cases, like the one identified in Baton Rouge, come with no symptoms, meaning the affected individual is simply a carrier. About 10 percent of the infections result in West Nile fever, with most sufferers experiencing flu-like symptoms. In a very small portion of the affected population, the virus causes a neuroinvasive illness, resulting in brain or spinal swelling that can cause permanent damage or death.

Individuals who are at least 65 years old are the most likely to suffer complications from the virus.

chenqi's picture
chenqi
Status: Member (Offline)
Joined: Jul 15 2010
Posts: 8
Indept on Dengue re-emerging in Florida

Indept on Dengue re-emerging in Florida

Health officials monitoring residents of Key West, Fla., for exposure to dengue virus were alarmed to find that more than 5% of the population (about 1,000 people) were exposed to the pathogen in 2009.
"We're concerned that if dengue gains a foothold in Key West, it will travel to other southern cities where the mosquito that transmits dengue is present, like Miami," Harold Margolis, chief of the dengue branch at the U.S. Centers for Disease Control and Prevention, said in a CDC news release.
Dengue — the most common virus transmitted by mosquitoes — causes up to 100 million infections and 25,000 deaths worldwide each year. Between 1946 and 1980, there were no reported cases of dengue acquired in the continental United States, and there hasn't been an outbreak in Florida since 1934, the CDC said.
Dengue fever typically involves a high fever, headache, rash and pain in the muscles, bones and joints. Infection can, in rare cases, lead to a more severe illness called dengue hemorrhagic fever, which can prove fatal. There is no vaccine against dengue viruses. Continue -->
middleclassamerican's picture
middleclassamerican
Status: Member (Offline)
Joined: Apr 16 2010
Posts: 19
Re: Daily Digest - July 15

V

Well put, and I agree, we need civil servants that act in the country's interest and not there own self interest.  That is my worthless hope.  I also can't envision a solution to the western world's debt crisis.  Ben is a supposed expert on the great depression, but the circumstances are not the same, we were a creditor nation then and out citizens were not burdened with massive debt.  Stimulus may have worked then, but it will not work now...We are now in a debt crisis, and we were not then, solving a debt crisis with more debt does not make sense to me.  

My solution (or at least the place to direct he next phase of money printing)  is quite simple and I would appreciate comment.  Stimulus directed at energy independence is a start.  We will get a return regardless as we currently import 500 billion worth of energy.  I would much rather see us take a stance against that, be it solar, wind, nuclear, oil, coal or whatever.  Stimulus with energy independence in mind would create decent paying jobs and reduce the deficit, I see no other solution...

As to your one world currency...I disagree, it is not a feasible solution even for the bankers. Lumping different societies into one currency is not in the cards unless you have a one world government.  Neither are in our immediate future.  A global currency for international settlements on the other had is probably in the cards.  The world will probably not stand for the dollar being this reserve currency and our continuing to export failed policy.  I hope these decisions never come to pass, but I have zero faith in any of our politicians to solve these problems.

LogansRun's picture
LogansRun
Status: Diamond Member (Offline)
Joined: Mar 18 2009
Posts: 1444
Re: Daily Digest - July 15

Joe,

Not to get nasty, but your comment shows that you haven't done the research on the issue, so as to undertand the dynamics of the power structure.  Until you do so......Sealed

MiddleClassAm,

My solution would be to default and start anew with a proper monetary system.  Austerity measures with the current monetary system would be a long painful road for the populace, with no hope of getting out of the mess.  And at the end, we'd still be broke, in debt and slaves to the bankers.  It's really that simple.

joemanc wrote:
LogansRun wrote:

I think you're stuck in the mire of "vote the bums out!".  This is NOT an issue with government policy.  It's an issue with who's actually running the government.  And if you haven't figured this out, it's not our so called President or anyone else that's been elected.  Get over the R vs. L paradigm and enter the real world.  

Yes, because 535 members of Congress, previous members of Congress, thousands of staffers, government employees, media people, etc., etc. can keep this all a secret. They are too incompetent to be controlled by some higher authority. The government is not evil, they are incompetent.

LogansRun's picture
LogansRun
Status: Diamond Member (Offline)
Joined: Mar 18 2009
Posts: 1444
State Tax Revenue's Rise...Finally!

This is MSM spin at it's best!

States' tax revenues rose 2.5% in the first quarter of 2010, compared to the year earlier period, according to a report published Tuesday by the Rockefeller Institute of Government in New York.

The income tax and sales tax grew at 2.5% and 0.4%, respectively, while the corporate income tax declined by 0.6%.

Then you get to this part: (emphasis mine)

However, most states still aren't celebrating their good fortune. The growth was largely due to tax hikes in California and New York, the Rockefeller Institute found.

Not including these two states, tax revenues dipped 1.5%. Some 33 states reported tax declines during the first quarter, with five states reporting double-digit dips.

http://money.cnn.com/2010/07/13/news/economy/state_revenue_rising/index.htm

vvolf's picture
vvolf
Status: Bronze Member (Offline)
Joined: Jan 3 2009
Posts: 29
Re: Daily Digest - July 15

Looks like this teacher looking into our money system can see the scam.  It's not just an American problem.

osb272646's picture
osb272646
Status: Silver Member (Offline)
Joined: Mar 14 2010
Posts: 120
Re: Daily Digest - July 15

There is only one question............."whatcha gonna do about it?"

1.  Prepare oneself for eventual unwinding of the economy.

2.  Hit them where it hurts -  Stop spending on anything but the absolute necessities.  This will have little impact on our employment, because most stuff comes from China anyway.  Will reduce tax revenues, which are the lifeblood of the political class, which blows our money on non-productive (counter productive is more like it) activities.  Also gets you in shape for the coming austerity. 

3.  Pay off your debts.  Wean America off the heroin addiction of debt.  One person at a time.

4.  Read "Critical Path" by Buckminster Fuller for a glimpse of the power structure behind the "power structure" that we all see.   Or "Starve the Monkeys" by Tom Baugh for ideas on what individuals can do in response to this mess.  Even though Bucky's book was published in 1984, and Tom's in 2009, there are interesting crossovers and parallels, especially in the area of non-productive activity and it's ability to overwhelm economy & destroy it.

 

britinbe's picture
britinbe
Status: Gold Member (Offline)
Joined: Dec 28 2008
Posts: 381
Re: The U.S. Middle Class Is Being Wiped Out
Poet wrote:
alcatwize wrote:

The reality is that no matter how smart, how strong, how educated or how hard working American workers are, they just cannot compete with people who are desperate to put in 10 to 12 hour days at less than a dollar an hour on the other side of the world. After all, what corporation in their right mind is going to pay an American worker 10 times more (plus benefits) to do the same job? The world is fundamentally changing. Wealth and power are rapidly becoming concentrated at the top and the big global corporations are making massive amounts of money. Meanwhile, the American middle class is being systematically wiped out of existence as U.S. workers are slowly being merged into the new "global" labor pool.

Great quote from Michael Snyder in his article Business Insider!

22 Statistics That Prove The Middle Class Is Being Systematically Wiped Out Of Existence In America
by Michael Snyder

http://www.businessinsider.com/22-statistics-that-prove-the-middle-class...

P.S. - Don't hate the workers in other countries who are just trying to get by. A lot of businesses with factories in China are now relocating to Vietnam and Cambodia for even cheaper wages even as they originally were in Taiwan and Japan in the 1970s and 1980s before China. (I think the next countries those factories will relocate to, will be in Africa.) Hate the pure capitalistic business model and it's soulless nature.

 

re PS.

If the cycle continues it will be our sons and daughters in the west.

SagerXX's picture
SagerXX
Status: Diamond Member (Offline)
Joined: Feb 11 2009
Posts: 2252
Re: The U.S. Middle Class Is Being Wiped Out
britinbe wrote:

If the cycle continues it will be our sons and daughters in the west.

If the cycle continues, it won't be anybody [in those jobs], as there will be no customers w/any money to buy the products.  

britinbe's picture
britinbe
Status: Gold Member (Offline)
Joined: Dec 28 2008
Posts: 381
Re: The U.S. Middle Class Is Being Wiped Out
SagerXX wrote:
britinbe wrote:

If the cycle continues it will be our sons and daughters in the west.

If the cycle continues, it won't be anybody [in those jobs], as there will be no customers w/any money to buy the products.  

fair point. Perhaps all things will be relative. 

Who knows.........

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