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    Daily Digest 2/8 – The Great Deprivation, Pleas For Stimulus Re-Evaluation, Drought in China Threatens Food Security

    by DailyDigest

    Tuesday, February 8, 2011, 3:42 PM

  • Monday Market Movement – Where Else? 
  • Lacker Says FOMC Should `Seriously’ Re-evaluate Stimulus Plan
  • The Haves And The Have-Nots
  • The Great Deprivation
  • Obama Wants Jobless Aid Help for States
  • A Seer On Banks Raises A Furor On Bonds
  • JPMorgan Sees Oil `Notable Correction’ as Unrest Eases
  • U.N. Food Agency Issues Warning on China Drought

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Economy

Monday Market Movement – Where Else? (Ilene)

We may complain about HOW the game is rigged but if practically every single roll of the dice comes up seven or eleven – you can’t blame us for betting on the trend. As the United States of Zimbabwe barrels forward on Ben Bernanke’s hyper-inflationary crazy train – we will go along for the ride – just don’t be surprised if we jump out before the rest of the riders hit the final terminal, with terminal being the operative word.

Lacker Says FOMC Should `Seriously’ Re-evaluate Stimulus Plan (jdargis)

Fed policy makers pledged in November to buy $600 billion of Treasuries through June to spur growth in a second round of so-called quantitative easing, building on the $1.7 trillion first round of purchases of mortgage and government debt that ended in March 2010.

The Haves And The Have-Nots (jdargis)

Yes, that’s right: America’s poorest are, as a group, about as rich as India’s richest. Kind of blows your mind, right?

The Great Deprivation (jdargis)

Data on the percentage of individuals living in poverty have not yet been released for 2009. Ms. Sawhill summarizes efforts to project future trends this way: “bad news on poverty, worse to come.” Her projections, developed in conjunction with Emily Monea, suggest that poverty rates for children could reach 25 percent by 2011.

Obama Wants Jobless Aid Help for States (jdargis)

Under the proposal, the administration would impose a moratorium in 2011 and 2012 on state tax increases and on state interest payments on the debt.

Crash Course DVDShare the Crash Course with your friends and family – buy the DVD today (NTSC or PAL)

A Seer On Banks Raises A Furor On Bonds (jdargis)

If one stock-picker emerged intact from the wreckage of the financial crisis, it was Meredith Whitney. With a prescient warning about bank stocks in 2007 — as well as a gift for the perfect sound bite — she became a media darling, celebrated in a Fortune cover article and in frequent television appearances as a market seer. Until now, that is.

Energy

JPMorgan Sees Oil `Notable Correction’ as Unrest Eases (jdargis)

“This week will be characterized by a drift down in crude prices on days where either no new tensions arise or where political progress is perceived,” JPMorgan analysts led by New York-based Lawrence Eagles said in the report. “Investors should therefore consider taking profits on all or a portion of their remaining long positions.”

Environment

U.N. Food Agency Issues Warning on China Drought

The state-run news media in China warned Monday that the country’s major agricultural regions were facing their worst drought in 60 years and said Tuesday that Shandong Province, a cornerstone of Chinese grain production, was bracing for its worst drought in 200 years unless substantial precipitation came by the end of this month.

Article suggestions for the Daily Digest can be sent to [email protected]. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the “3 Es.”

 

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