Daily Digest

Daily Digest - June 19

Saturday, June 19, 2010, 10:16 AM
  • Jim Quinn on the Gary Null Show
  • Medvedev Sees Chance For New World Order
  • China Signals End to Yuan’s 23-Month Peg Before G-20
  • Peddling Relief, Industry Puts Debtors in a Deeper Hole
  • Obama urges G20 to boost demand
  • Call China's Currency Policy What It Is: A Declaration Of War
  • BP Supervisor Was Fired For Expressing Safety Concerns
  • Anadarko Says BP Should Pay After Being Reckless
  • Agriculture Secretary Vilsack Announces 'People's Gardens' In Every State
  • As Demand Grows For Locally Raised Meat, Farmers Turn To Mobile Slaughterhouses

Economy

Jim Quinn on the Gary Null Show (Davos)

Today's guest is James Quinn and he is a senior director of strategic planning for a prestigious university business school. During his 20+ year career he has held several financial positions as a treasurer, controller and economic analyst.

Medvedev Sees Chance For New World Order (SolidSwede)

“What had seemed untouchable has collapsed. The bubbles that created the illusion of flourishing economies have burst,” Mr Medvedev said. “For Russia this situation is a challenge and an opportunity. We are living in a unique time. And we should use it to build a modern, flourishing and strong Russia ... which will be a co-founder of the new world economic order and a full participant in the collective political leadership of the post-crisis world.”

China Signals End to Yuan’s 23-Month Peg Before G-20 (cmartenson)

The decision may help deflect criticism of China when G-20 leaders meet on June 26-27 in Toronto and ease pressure from U.S. lawmakers, who have urged President Barack Obama to use the threat of trade sanctions to force policy change. A more flexible currency would give China more freedom to decide on monetary policy and reduce inflationary pressures by lowering import costs, the World Bank said in a report last week.

Peddling Relief, Industry Puts Debtors in a Deeper Hole (cmartenson)

The debt settlement industry can afford some extravagance. The long recession has delivered an abundance of customers — debt-saturated Americans, suffering lost jobs and income, sliding toward bankruptcy. The settlement companies typically harvest fees reaching 15 to 20 percent of the credit card balances carried by their customers, and they tend to collect upfront, regardless of whether a customer’s debt is actually reduced.

Obama Urges G20 To Boost Demand (cmartenson)

President Barack Obama on Friday urged other G20 countries to boost domestic demand and in-crease exchange rate flexibility to encourage global growth and rebalance the world economy.

In what appeared to be a warning aimed at China and Germany ahead of next weekend’s meeting of G20 heads of government in Toronto, the White House released a presidential letter saying: “I am concerned by weak private sector demand and continued heavy reliance on exports by some countries with already large external surpluses.”

Call China's Currency Policy What It Is: A Declaration Of War (Dr. B @ Truthsavvy)

As long as the value of the yuan in international trade is not an issue addressable by the international community, China's policy of growing its money supply (M1 & M2 equivalents) at over 20% annually is the same thing as China declaring war on the world. As thinking people have come to understand, a large country's monetary policies can impact the long-term economic sovereignty of other countries in the global trade era as effectively as military policies.

Energy

BP Supervisor Was Fired For Expressing Safety Concerns (jdargis)

"I got a lot of pressure from the lead engineers and from the managers saying, 'Don't do that; don't push so much; we don't want to mess with that,'" Abbott told HuffPost in an interview Wednesday. "I feel like the real reason I was fired was because I was trying to raise a safety issue, and you know BP has a long history of getting rid of people who try to raise safety issues. I was one of those victims."

Anadarko Says BP Should Pay After Being Reckless (cmartenson)

BP didn’t monitor or react to warning signs as the Macondo well was drilled, Chief Executive Officer Jim Hackett said yesterday in a statement. BP is responsible for damages under such conditions, Anadarko said.

“BP’s behavior and actions likely represent gross negligence or willful misconduct and thus affect the obligations of the parties under the operating agreement,” Hackett said in the statement.

Environment

Agriculture Secretary Vilsack Announces 'People's Gardens' In Every State (lastboyscout)

"Last year, I decided to visibly remind folks that gardening is at the front and center of what we do here at USDA," said Secretary Vilsack. "To have 'People's Garden' in every state is a tremendous achievement and just one example of the dedication and commitment of all USDA employees in collaboration with their communities. But the ideas behind the People's Garden were not born here in Washington - and we will continue to ensure that they are adopted and improved upon in communities across the country."

As Demand Grows For Locally Raised Meat, Farmers Turn To Mobile Slaughterhouses (SteveS)

The slaughtermobile -- a stainless steel industrial facility on wheels -- is catching on across the country, filling a desperate need in a burgeoning national movement to bring people closer to their food. It is also perhaps one of the most visible symbols of a subtle transformation at the U.S. Department of Agriculture, long criticized for promoting big agriculture.

Please send article submissions to: [email protected]

16 Comments

jhart5's picture
jhart5
Status: Bronze Member (Offline)
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Posts: 89
Re: Daily Digest - June 19

From Nathans Weekend Funnys

http://economicedge.blogspot.com/

imagineX's picture
imagineX
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World could be plunged into crisis in 2014': Cambridge expert

He bases his theory on a world-changing-event occuring in the second decade of each century for the first 500 years.   I think people are fixated on major cataclysm happening soon so much that we could indeed be precipitating it...

 

http://www.dailymail.co.uk/news/article-1287271/World-plunged-crisis-2014-Cambridge-expert-predicts-Doomsday.html#ixzz0rAmGEQpi

 

 

 

 

mainecooncat's picture
mainecooncat
Status: Gold Member (Offline)
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Posts: 488
Re: Daily Digest - June 19

Unfortunately, our dependence on fossil fuels will be ended for us.

Per the Cambridge 2014 article, the writer doesn't even mention resource/energy scarcity, basically rendering his analysis meaningless. Not to mention his not so subtle endorsement of American imperialism. I have to admit, quite a strange article.

A. M.'s picture
A. M.
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Re: Daily Digest - June 19 RE Cambridge Article

This sounds more like the start of the problem than a possible solution.

"But he cautioned that peace is only possible if the world realises that an age of individual nation states is over and an effective system of global governance is introduced"

Fear and Global governance seem to be a two faced coin.

Cheers,

Aaron

imagineX's picture
imagineX
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V's picture
V
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Joined: Dec 14 2009
Posts: 849
Re: Daily Digest - June 19

WOW

This could be the first DD relegated to the CT folder. Medvedev talking about a NWO and that goofball at Cambridge.

While all these events were happening at the beginning of those centuries what was happening in India, China, Africa, South America etc.? His decidedly Western European view of the world could only lead to the conclusion he reaches.................we need Western institutions like the BIS, IMF, World Bank etc. to lead us into peace and prosperity.

Personally when I read drivel like this I long for the county state , the village state, the neighborhood state. One world centralized planning has gotten us here. Anyone happy with the results?

V

ps This is getting scarier by the minute. Especially when Aaron and I agree on something. LOL

Mike Pilat's picture
Mike Pilat
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Posts: 929
Re: Daily Digest - June 19

Purveying global governance as a solution to the problems in the world now is like an alcoholic saying that the reason he feels so bad is that he did not drink enough to cure the hangover. uh huh.

Or like saying that a "solution" to a collapsed skyscraper is to try to go taller next time.

Size alone is not really the problem or the solution, but it does add a lot of complication that can make it much harder to get things right. If you can't get them solved at (already gargantuan) national levels, what makes us think that global government will be any better. How many Americans feel adequately represented in our nation? Will that be ameliorated or aggravated if things are made even bigger?

The Euro was an attempt at something between national and global governance: it was continental governance. Utter failure. Spainards, Germans, British, and Greeks are very different peoples. I don't have any problem with that diversity myself, in fact, it is what has made visiting Europe so enjoyable for me. Let's see global governance try to get Americans, Kenyans, Chinese, and Russians all acting in concert. Unmitigated debacle.

idoctor's picture
idoctor
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Re: Daily Digest - June 19

Russ_H's picture
Russ_H
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Posts: 18
Re: World could be plunged into crisis in 2014': Cambridge ...
imagineX wrote:

He bases his theory on a world-changing-event occuring in the second decade of each century for the first 500 years.   I think people are fixated on major cataclysm happening soon so much that we could indeed be precipitating it...

 

http://www.dailymail.co.uk/news/article-1287271/World-plunged-crisis-2014-Cambridge-expert-predicts-Doomsday.html#ixzz0rAmGEQpi

 

As a UK citizen I feel you should be aware of this t-shirt.  

http://dailymash.shotdeadinthehead.com/product_view.aspx?pid=940

 

 

imagineX's picture
imagineX
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Posts: 4
Re: World could be plunged into crisis in 2014': Cambridge ...

agreed Daily Mail is a pile of rubbish but this particular peice of news was also reported in some of the broadsheets as well..

idoctor's picture
idoctor
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Posts: 1731
Re: Daily Digest - June 19

I dunno LOL.

Poet's picture
Poet
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Posts: 1891
Re: Daily Digest - June 19

Jon Stewart shows the ridiculousness of all 8 most recent presidents (including Obama) paying lip service to energy independence...

http://www.thedailyshow.com/watch/wed-june-16-2010/an-energy-independent...

The last part with Nixon was awesome, and shows just how far things have come...

Poet

TNdancer's picture
TNdancer
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Posts: 127
Re: Daily Digest - June 19

On mobile slaughterhouses and locally produced food.

Years ago, we began a process of producing more and more of our own food.  That included beef and pork we would take to a local slaughter house/packing plant.  Just completed an addition to the back of the garage complete with 6x8 walk-in solar powered cooler to process out own meat here at the farm, where it will be done from now on.  Local food to us is REAL local....ahahahaaa

robie robinson's picture
robie robinson
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Posts: 1148
Re: Daily Digest - June 19

I'ld love to hear about 6X8 walk in cooler.

 

robie

dickey45's picture
dickey45
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Posts: 77
Re: Daily Digest - June 19

Same here.  I'd love more info, pics, etc.

Full Moon's picture
Full Moon
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Posts: 1258
Re: Daily Digest - June 19

 Me three ,     Had a walk in freezer built from a few old Airconditioners and an heavily insulated room,   but other wise we are limited to butchering large animals  in the early winter .  This takes a large family or a few friends and  it was getting easier to pay the $200 to send it to the locker to be processed .

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