Daily Digest

Daily Digest - November 25

Wednesday, November 25, 2009, 11:49 AM
  • The Dollar Bubble (Video)
  • Saab May Be Done
  • Moody's Finds Commercial Property at 2002 Prices
  • Global sovereign debt to hit $49.5 trln-Moody's
  • Fannie Mae cuts portfolio, delinquencies jump
  • U.S. dollar collapse could devastate economy: book
  • Farm Income Collapse Will Weaken Construction Recovery in the Plains States
  • Long lines for area's homeless shelters (San Jose area)
  • We're running out of gold - miners
  • Budget cuts force Fresno to axe Christmas tree
  • RivCo financial picture looking bleak; hundreds of layoffs likely
  • NY grocer plans to close 53 stores, lay off 4,000
  • Bare necessities top holiday wish lists
  • World Oil Demand Growth to Outpace Supply in 2010: Poll

Economy

The Dollar Bubble (Video)

(Quote from their earlier press release)The National Inflation Association is pleased to announce the release of 'The Dollar Bubble', a new 30 minute documentary about the upcoming collapse of the U.S. dollar and how the Federal Reserve's destructive monetary policies could bring the U.S. financial system to an end.

Saab May Be Done

The future of Saab was thrown into doubt on Tuesday after General Motors announced a consortium led by Swedish investors pulled out of talks to buy the premium car brand. The deal's collapse marks the second failure by GM in less than two months to sell a money-losing brand. In October, Penske Automotive Group abandoned a deal to acquire GM's Saturn because of doubts about securing a long-term supply of vehicles.

Moody's Finds Commercial Property at 2002 Prices

An index compiled by Moody's Investors Service found that prices of commercial real estate have, on average, returned to levels seen seven years ago. The Moody's/REAL Commercial Property Price Index declined 3.9% in September to 109.61 from 114.06 in August. Based on the index, prices for commercial real estate were 37% lower than in September 2008 and 42.9% below the peak measured in October 2007. The index is based on repeat sales of the same properties across the U.S. at different times.

Global sovereign debt to hit $49.5 trln-Moody's

Global sovereign debt is expected to hit $49.5 trillion by year end, a 45 percent climb since 2007 as the credit crisis takes a toll, Moody's Investors Service said on Tuesday. The expected $15.3 trillion increase in worldwide government debt is more than 100 times the inflation-adjusted cost of the Marshall plan, Moody's ( MCO - news - people ) said in a report.

Fannie Mae cuts portfolio, delinquencies jump

The conventional single-family serious delinquency rate rose 27 basis points to 4.72 percent, while the multifamily serious delinquency rate rose 6 basis points to 0.62 percent. One year ago, these rates were sharply lower at 1.72 percent for single-family and 0.16 percent for multifamily.

U.S. dollar collapse could devastate economy: book

A dollar plunge could ravage the U.S. economy as soon as 2012, when foreign investors are likely to exit en masse from U.S. assets, according to a new book by two analysts who forecast the recent credit crisis.

Farm Income Collapse Will Weaken Construction Recovery in the Plains States

After soaring in 2007 and again in 2008, farm income has plunged in 2009 with little improvement expected in the next few years. A 30% drop in 2009 farm income is projected by the US Agriculture Department. Except for recession in 2002, this will drop the constant dollar value of farm income back to the level of the early 1980s when the farm crisis was headline news.

Long lines for area's homeless shelters (San Jose area)

Dozens are on the list for spots at Hotel de Zink and InnVision's 60-bed Clara Mateo Shelter in Menlo Park. Further up the Peninsula, Shelter Network of San Mateo County is reporting the longest waiting lists in its 23-year history at its shelters in Redwood City, San Mateo and elsewhere. Eighteen months ago, Shelter Network was fielding about 100 phone calls per week from people in search of a place to stay, said Amy Wright, the nonprofit's interim development director. Last week it got more than 900 calls for help.

We're running out of gold - miners

GOLD production will continue to fall, despite a brief boost in 2009 and soaring prices, as deposits are exhausted and new discoveries remain elusive, say miners. In terms of production, "2009 is the outlier as far as the trend," Omar Jabara, spokesman for US-based Newmont Mining, the second-largest gold producer in the world, told AFP. Overall, "it's a fact that gold production from mines has been in decline since 2001 and has gone roughly from 85 million ounces to about 75 million ounces a year," said Vincent Borg, spokesman for number one producer Barrick Gold.

Budget cuts force Fresno to axe Christmas tree

The economy is the Grinch stealing Christmas at Fresno City Hall, where layoffs and budget shortfalls have left no money for the downtown holiday tree. Fresno spokesman Randy Reed said staff reductions mean fewer people are available to set up, decorate and take down the giant tree that has been hauled each year from the Sierra Nevada. Last year thousands of families turned out for the lighting of the 61-foot tree, which took workers a full week to get ready.

RivCo financial picture looking bleak; hundreds of layoffs likely

For Riverside County to keep from depleting its reserves and begin to shrink its budget deficit, 800 to 1,500 county employees will have to be dropped from the payrolls over the next two years, County Chief Financial Officer Paul McDonnell told the Board of Supervisors today. During an afternoon budget workshop, McDonnell told the board that “hard decisions” will have to be made as the county struggles to make do with less revenue. “The numbers are grim all over,” McDonnell said. “We’re in deep water here.”

NY grocer plans to close 53 stores, lay off 4,000

The Penn Traffic Co. has told New York officials it expects to close dozens of supermarkets in upstate New York and lay off more than 4,000 employees.

Bare necessities top holiday wish lists

"We have people coming to the food bank who said they were donating to us last year, but who are now out of work and in need themselves," said Alison Bono, who coordinates marketing for the Mid-Michigan Food Bank in Lansing. She said that close to 1,000 people stand in line for produce handouts each week as they seek to supplement food stamps with fresh fruits and vegetables. A little more than week before Thanksgiving, food bank supplies that used to be enough to last for six to eight weeks are now down to 10 days, said Ms. Bono, who calls the current seasonal needs extreme.

Energy

World Oil Demand Growth to Outpace Supply in 2010: Poll

Growing world oil use will likely outpace the rate of new supplies in 2010, eroding the huge stockpiles of crude which have mounted around the world since the start of the global economic crisis. According to a Reuters poll of ten top oil-tracking analysts and organizations, oil demand is predicted to rise by 1.3 million barrels per day (bpd) next year to 85.9 million bpd. At the same time, the rise in production from outside the Organization of the Petroleum Exporting Countries and output of natural gas liquids (NGLs) from OPEC members is seen growing by just 800,000 bpd in total.

25 Comments

saxplayer00o1's picture
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Re: Daily Digest - November 25

"Gold climbed to a record in London and New York on a further drop by the dollar and on a report that India may buy more bullion for its central-bank reserves."

"The falling price of the US dollar has raised concern among MPs that Kenya's foreign currency reserves are at risk. Githunguri MP Njoroge Baiya (PNU) and Rangwe MP Martin Ogindo (ODM) Wednesday put the government on the spot over the depreciating value of the dollar, the primary unit in the foreign currency reserves. The MPs argued that the falling value of the dollar was due to deliberate policies of the Obama Administration. Therefore, they said, Kenya had to take steps to protect its foreign currency reserves by avoiding the dollar."

"Russia's central bank says it will add the Canadian currency to its reserves, sparking a one-cent gain in the loonie"

"Russia has gradually been diversifying its $400-billion-plus reserves – the world's third largest – to reduce dependence on the U.S. dollar."

"MOSCOW, Nov 25 (Reuters) - Brazil is interested in settling bilateral trade with Russia in roubles and real, a Russian central bank official said on Wednesday, echoing Moscow's drive for more use of national currencies and less of the U.S. dollar."

""Brazil has expressed such an interest. India...is ready to discuss this issue," he added, speaking to the Duma lower house of parliament."

"Real Capital Analytics predicts sales volume for all commercial real estate sectors will hit $49 billion in 2009, less than half the amount sold in 2008 and significantly less than the $80 billion sold in 2001."

"As much as $7 trillion of debt piled up by banks falls due by the end of 2012, which could force them to refinance their borrowings at higher cost, the Wall Street Journal said, citing a Moody's Investors Service report."

"When the credit crisis struck, they were propped up by government guarantees that enabled them to keep selling debt, but with much shorter maturities, the paper said.

Moody's report showed that U.S. banks have seen their average debt maturities drop to 3.2 years from 7.8 years in the past five years, the paper said."

"Tucson is $32 million deeper in the red than previously believed.

The City Council was notified Tuesday that despite $50 million in cuts and $17 million in new taxes it already has approved to balance this year's budget, revenues are far worse than the most pessimistic projections and will leave them $32 million short for the year, which ends June 30.

But in her first report to the council, new Finance Director Kelly Gottschalk said the looming deficit is in addition to an estimated $45 million shortfall for next fiscal year, which Gottschalk said is likely to grow as well, given current projections."

"Deere said it anticipates its "postretirement benefit costs" to amount to $400 million more in 2010 than they did in 2009."

"The biggest reason for UC’s 32 percent tuition increase is staring right at you. Without it, the university can’t possibly keep paying out pensions to smug university retirees, who are guaranteed to receive them year in, year out despite the fact that their retirement fund is sliding into insolvency.

The UC retirement fund lost 30 percent of its value—$16 billion—since 2007. The pension plan, which pays out more than $1.5 billion a year to its 500,000 retirees, had been self-sufficient while the market soared through the boom years, with its investments providing a comfortable return to keep the machine going and the pension funds high. To keep it self-sufficient, UC’s fund managers had to get increasingly cockier, buying into more and more highly profitable, high-risk bets. That approach, of course, came crashing down in 2007. Now, in order to keep making payments on its obligations for the foreseeable future, the university system has to start depositing its own cash into the fund. In other words, the pension fund is collapsing and the university needs to bail it out with money taken out of tuition fees. This hasn’t happened in nearly two decades. It seems an economic crash was a contingency the UC didn’t plan for. And now students are paying for somebody else’s mistakes."

"Bankruptcy filings in federal courts jumped by more than one-third this year, as businesses and individuals struggled to regain their footing in a weakened economy.

New numbers from the Administrative Office of the U.S. Courts show about 1.4 million bankruptcy cases were filed this fiscal year. That's up 34.5 percent compared with the more than 1 million cases filed last fiscal year. The bankruptcy figures cover a period from Oct. 1, 2008, to Sept. 30.

Filings under Chapters 7, 11, 12 and 13 all rose -- particularly filings for Chapter 11 protection, which increased 68 percent. Overall, business filings were up 52 percent, while nonbusiness filings rose by 34 percent."

  • .........Dollar keeps going down, yet people holding dollars never seem to

see it coming.

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Re: Daily Digest - November 25

Sad about Saab isn't it? I was a committed Saab buyer until recently. I bought a 99GL in 1987 and a 900S in 1997. The 900S  went to the scrapyard this year, and I now have a Citroen.

I was fond of Saabs because new innovations were put into spares for existing cars. This policy seemed to stop around 2006 and go into reverse. I am sure fellow readers have noticed that pattern parts do not perform as well as genuine parts. I bought a new genuine exhaust for my Saab in 2006, but it made as much noise as a pattern one. The Saab dealer told me there was no problem.

I guess this is a sneaky way for car manufacturers to get you to buy a new car rather than repair your old one. Has anyone else noticed this sort of thing?

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Re: Daily Digest - November 25

My goodness.  This sounds a lot like the three E's:

collapse timeline

A number of readers have asked me for an "elevator speech" that describes how I think our civilization will collapse by the end of this century. Being more of a "picture" person I decided to try to answer that question graphically. The result is shown above.

There seems to be a growing consensus among those who have studied the history of civilizations, past and present, and who are informed about the current state of our economic, political, social and ecological systems, that we are headed for a wall -- a series of cascading crises that we will not be able to prevent, mitigate, or adapt ourselves to. These crises will be principally of three types (listed in the order in which the systems underlying them will collapse):

  1. Economic and Political Crises: We are already weathering the early signs of these, though I don't think the real economic or political crises have yet really begun. Because our economic and political systems, predicated on accelerating and endless growth, are unsustainable, we are starting to see evidence of great volatility in the industrial growth markets as awareness of this unsustainability mounts. This will produce a crisis of confidence as unemployment soars, wages collapse, and citizens lose the capacity to buy, which will precipitate market collapse and a chronic great depression -- a "Long Emergency" -- that will steadily worsen over the next 20 years and peak in the 2030s.
  2. Energy Crises: Our economy is based utterly on the availability of unlimited inexpensive energy. As the economy collapses for the reasons noted above, investment to seek new sources of cheap energy will evaporate, and an energy crisis will compound and accelerate the economic crises. As all the economic engines -- employment, inexpensive energy, inexpensive resources, and inexpensive capital -- all dry up, the economy will crash, leading to increasing regional and then global political turmoil, and finally, as the energy crisis peaks in the 2050s, the beginnings of civilizational collapse. Civil chaos, compounding the collapse of the fragile global economic system on which almost all humans depend for their very life, will lead to the quick collapse of national and regional governments, and power will devolve by default to local communities. Death will come not from massive war or bioterror (though there will be some, perhaps lots of that) but from the familiar killers of humans throughout civilization -- famine and disease.
  3. Ecological Crises: The excesses of our economic system have already unleashed irreversable climate change, which is just beginning to show up in extreme weather events and accelerating glacial melting and temperature rise, and will soon produce ecological system collapses that will exacerbate the economic and energy crises. By the 2060s, human civilization will be in rapid descent as the ecological crises ascend. We will lose the last of our forests, crops will be devastated, pandemics will kill humans, their food crops and farm animals, our oceans will become devoid of life, fresh clean water will become desperately scarce, and deserts, droughts and floods will become commonplace.

Underlying all of these crises are the industrial growth society, economy, and civilization we have built up, over the past thirty millennia but especially over the past three centuries. This civilization was both enabled and required by the discovery of tools (arrowheads, fire, and catastrophic monoculture agriculture) that in turn enabled us to expand outside our natural rainforest habitat, become carnivores, become settlers, eliminate natural predators, and hence expand exponentially our species' numbers and consumption of resources. To try to sustain this, we created a fragile economic and political system that depended on the exhaustion of natural ecosystems, the extermination of alternative cultures and all species not required for human food, and the ruthless repression of all forms of diversity and dissent. The discovery of fossil fuels allowed us to replace human labour with that created mechanically by the burning of these hydrocarbons -- hundreds of millennia worth of stored energy consumed in just a century or two. This allowed us to completely pillage the planet, just as quickly, to the point that we now have nothing left for other species or for future generations, and this has precipitated the sixth great extinction of life on Earth, and the destruction, in the blink of an eye, of an ecological balance that was co-created and sustained collectively by all-life-on-Earth for millions of years.

Reg Morrison, in Spirit of the Gene, tells us what to expect after that:

If the human plague is really as normal as it looks, then the collapse curve should mirror the growth curve. This means the bulk of the collapse will not take much longer than 100 years, and by 2150 the biosphere should be safely back to its preplague population of Homo Sapiens -- somewhere between a half and one billion.

 

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Re: Daily Digest - November 25

Does anyone on here read Zero Hedge?

http://www.zerohedge.com/article/global-warming-exposed-un-funded-fraud

This is gloomy the day before Thanksgiving I know but better then living full of hopenosis and then suddenly waking up unprepared. Snippet..

When governments go bankrupt it's called "a default." Currency speculators figured out how to accurately predict when a country would default. Two well-known economists - Alan Greenspan and Pablo Guidotti - published the secret formula in a 1999 academic paper. That's why the formula is called the Greenspan-Guidotti rule. The rule states: To avoid a default, countries should maintain hard currency reserves equal to at least 100% of their short-term foreign debt maturities. The world's largest money management firm, PIMCO, explains the rule this way: "The minimum benchmark of reserves equal to at least 100% of short-term external debt is known as the Greenspan-Guidotti rule. Greenspan-Guidotti is perhaps the single concept of reserve adequacy that has the most adherents and empirical support."

The bankruptcy of the United States is now certain

http://www.thedailycrux.com/content/3455/Porter_Stansberry/eml

Where's the loot?

Climate cash is 'unaccounted for'

http://news.bbc.co.uk/2/hi/business/8379305.stm

Maybe we should ask Al...

Gore, first carbon billionaire?
http://www.dailyfinance.com/2009/11/0...
http://www.guardian.co.uk/world/2009/...

Hide The Decline - Climategate

I guess Canada found the missing Gold it was all just some big error

http://www.ctv.ca/servlet/ArticleNews/story/CTVNews/20091124/mint_mystery_091124/20091124?hub=TopStoriesV2

Or was it??

http://www.ottawacitizen.com/news/theft+Mint+RCMP/2261182/story.html

 

Anyway Happy Thanksgiving Everyone.

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Re: Daily Digest - November 25

Re: SAAB

 

The last time this automobile manufacturer made money was in 1989. Maybe it's time to find other things to do?

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Re: Daily Digest - November 25

Gold at 1189.-USD, Dubai heading towards insolvency, unfortunately it looks like "The Crisis" is on a steep curve upwards!

Better get ready for more violent disruptions of what we sofar believe is " normality"

mono

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Re: Daily Digest - November 25

 

 

 

 

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Re: Daily Digest - November 25

Jaq don't give up on deflation just yet LOL..... gawd who knows???

Bankruptcies Jump, Hitting Highest Level in Four Years

http://www.cnbc.com/id/34153890

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Re: Daily Digest - November 25

I doubt it will take 60 years to see collapse of civilization. History has shown, that nations under stress go to war. This applies to nations before Rome and into the 20th Century (Europe circa 1914 to 1945) Today many nations possess nuclear weapons and the next major war will cost billions of lives. A nuclear war will finish our civilization. Even if a nuclear war is some how averted, the other horseman: pestillence will also kill billions. Western Civilizations are largely dependant on modern medicines to prevent widespead outbreaks. A period of famine or mal-nuetretion will kick off a panademic, as it did during Europe in the middle ages. The plagues of the middle ages can be largely attributed to mal-nuetrition as unseasonable weather reduced European crops and the quality of food Europeans consumed. This weakened their immune systems and lead to widespread pandemics. Already their are signs that pandemics are brewing. Consider that in less than a months time 1.6 Million people in the Ukraine had become infected with the flu. We also had a near Pandemic with the Asian SARs scare. Sooner or later something bad will happen in the scale of the 1918 Swine flu panademic.

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Re: Daily Digest - November 25

The clowns I mean cheer leaders on CNBC seem confused that Peter might be right AGAIN LOL! If or when gold hits $2000 CNBC will be some of the best cheap entertainment around. Only Rick Santelli gets it.

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Re: Daily Digest - November 25

Looks pretty accurate, but the energy crisis will probably hit much sooner than that...

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Re: Daily Digest - November 25

Only Rick Santelli Gets IT?  Yeah, those wall street guys dont get any bailouts, or get rewarded for bad behavior.  Jeesh.

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Re: Daily Digest - November 25

Enjoy....

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Re: Daily Digest - November 25

Hi James, my first car was a 1975 Saab 99EMS, with the sport suspension and steering, spoiler, exhaust header, and alloy wheels.  It had its quirks, but that made it special. Good memories.  I've never seen another one like it for years.

Tom

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Re: Daily Digest - November 25
 
That's a 58% increase y-o-y, or a 37% fall in the value of the US Dollar.
The last month's increase was 15.9% .
48% increase y-o-y in Japanese Yen
and presumably 58% increase in Chinese Yuan.
 
Meanwhile over the same period WTI Crude Oil has gone from 43.61 to US$76.94 /barrel,
a increase of 76.4% y-o-y.
 
Aluminium up 14% y-o-y
Copper up 88%
Lead up 106%
Nickel up 64%
Zinc up 82%
 
And yet US Dept of Labour  http://www.bls.gov/cpi/home.htm says
inflation including food and fuel was -0.2%, in other words deflation.
 
Please explain.
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Re: Daily Digest - November 25

Report warns of water crisis by 2030

By Karon Snowdon for Radio Australia

http://www.abc.net.au/news/stories/2009/11/26/2754585.htm?section=justin

The report warns demand for water in 2030 could outstrip supply by 40 per cent. (ABC News: Giulio Saggin)

A report backed by big business users of water warns that without global action, demand for water in 2030 will outstrip supply by 40 per cent.

The biggest problems will be in India and China, and without concerted action, India will not be able to meet half of its water needs by 2030.

In neighbouring China, the problem is even worse, with demand expected to outstrip supply by 25 per cent.

The International Finance Corporation (IFC) - part of the World Bank - collaborated with multinational companies including Coca Cola, Nestle, Standard Chartered Bank and brewer Miller, among others, to write "Charting Our Water Future".

The report says the worst affected areas will be in developing countries where one third of the world's population lives.

One of the report's authors, Giulio Boccaletti from strategists the McKinsey Group, says water is everybody's problem and requires new government policies and investment, involvement of the private sector, efficiency measures, research and education.

The cost could be between $54 billion and $64 billion, but the savings could be enormous.

IFC senior manager Usha Rao-Monari told Radio Australia's Connect Asia many of their clients - large water users - collaborated on the report.

"The first thing that they're thinking about and worrying about and taking measures to address is saving water," she said.

"They're using less water or they're treating waste water and using that for their production process, and leaving fresh water for consumption for example by surrounding communities.

"There is much broader recognition of this in all parts of the world than we had initially thought when we first started working on this report."

The report focuses on two other countries - Brazil and South Africa.

Australia's creation of water rights and a market for the Murray Darling Basin is used as one example where the capacity exists to regulate users.

In others, microfinance - the provision of financial services to low-income clients without access to banking and related services - might be used to improve irrigation.

Guilio Boccaletti says: "The point we're trying to make is that there exists a number of ways, a number of policy levers, to try and adopt and help implement a program of sustainable water use to get to water security."

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Re: Daily Digest - November 25

S.O.S. DTM, Keep the sheep asleep and in the dark counting themselves. All these investors with loads of worthless money better sell soon!!!

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Re: Daily Digest - November 25

Regular Smart Economy blog readers will remember the theory that I posted a
while back: Geologically speaking, earth should be in an ice age now--i.e
Toronto should be covered by about a Km of ice, if it wasn't for all the
human produced CO2 and global warming largely due to of 8,000 years of
agriculture, such as rice farming and deforestation. Now comes a paper in
New Scientist that provides evidence that the last transition to a mini ice
age about 13,000 years ago (from a warm sunny climate to a landscape of ice
covered glaciers) took an incredible short period of time (6 months to a
year) and not the decade or decades that we previously assumed.

http://smarteconomy.typepad.com/smart_economy/2009/11/early-warning-signals-clim\
ate-change-ice-ages-and-tipping-points-1.html

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Re: Daily Digest - November 25

I've had professors here in the States talking about the next world war being about fresh water, but they always struck me like that movie Ice Pirates. I live on a mountain in the PacNW so I'm pretty sure my family is ok!

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Re: Daily Digest - November 25

Dang, gonna have to hoard another cord or two! Let me check out that stuff, thanks DTM

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Re: Daily Digest - November 25

Todays headline in one of the leading economic newspapers " Handelsblatt" in Germany reads: "Dollar moves towards freefall"

Considering the conservative approach " Handelsblatt"  is associated with, this reads frighnening!

 

 

 

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Re: Daily Digest - November 25

SaxPlayer, loved the Dollar Bubble video.  I want to go check out their prior video on hyperinflation now.  I'm thinkin' I need to step-up my rate of preparations!

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Re: Daily Digest - November 25

Despite the issues being out there, financial markets, including Brazil and London (when it's open) are pulling back, the pound is tanking and -- uh-oh -- the greenback is rallying! That could be bad news when stocks open on Black Friday.

http://www.businessinsider.com/potential-dubai-default-rocks-financial-markets-while-dollar-soars-on-panic-buying-2009-11

The True Meaning of Thanksgiving: The Birth of Private Enterprise in America by

Richard M. Ebeling

http://defenseofcapitalism.blogspot.com/2009/11/true-meaning-of-thanksgiving-birth-of.html

Sadly we failed to learn from history.

 

 

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Re: Daily Digest - November 25

Optimum Population Trust

A sustainable population for Earth

  1. Assuming the global biocapacity and average footprint [F1] remain stable at the 2003 level, then, to become sustainable, the world population needs to contract to a maximum of 5.1 billion.
  2. For a ‘modest’ world footprint of 3.3 gha/cap (without allowances for biodiversity or change of biocapacity), the sustainable population is 3.4 billion.
  3. For a ‘modest’ world footprint of 3.3 gha/cap, plus a 12% allowance for biodiversity (but none for attrition of biocapacity), the sustainable population is 3.0 billion.
  4. For a ‘modest’ world footprint of 3.3 gha/cap, plus a 20% margin for biodiversity and attrition of biocapacity then the sustainable population is 2.7 billion.

A sustainable population for the UK

  1. Assuming the UK’s biocapacity and the average footprint of 5.6 gha/cap remains stable at the 2003 level, then the sustainable UK population is 17 million.
  2. If the UK achieves its carbon footprint reduction target of 60% by 2050, then, all else being equal, the resulting footprint of 3.7 gha/cap, with no allowance for biodiversity or change of biocapacity, will sustain a population of 27 million.
  3. Assuming the UK reaches its carbon footprint reduction target of 60% (by 2050), then, the resulting Footprint of 3.7 gha/cap, coupled with a 12% allowance for biodiversity, will sustain a population of 24 million.
  4. Assuming the UK reaches its carbon footprint reduction target of 60% by 2050, then the resulting Footprint of 3.7 gha/cap, coupled with a 20% combined allowance for biodiversity and attrition of biocapacity, will sustain a population of 21 million.

http://www.optimumpopulation.org/opt.optimum.html

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Re: Daily Digest - November 25

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