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    Daily Digest 3/18 – ‘No Cause For Panic’ In Cyprus, Disease Threatens Aquaculture

    by DailyDigest

    Monday, March 18, 2013, 2:03 PM

Economy

Wakeup Call From Cyprus To The Rest Of The World (Taki T.)

Confiscation is happening in broad daylight. The above mentioned news regarding Cyprus is an act of outright confiscation. No discussion about it. People need to hand in part of their savings to prevent the bankruptcy of their banks. Confiscation is more actual than ever before, and it has many faces. Inflation, which is constantly underreported by governments, has been around for decades and will continue to be an “invisible” form of confiscation. The trend towards more severe cases of confiscation has just become clear as well.

With Regard to the Cyprus Bank Deposit Confiscations: Is Nothing Sacred? (Thomas C.)

It is driven by the allure of the cartels, monopolies, and monied interests, and their corrupt political bargains. It is a child of the subornation of perjury on a massive scale. It is the unscrupulous servility to power of those who have sworn to uphold and protect the law. What is truth? Whatever suits us, whatever we say it is, by whoever has the power and the craft to define 'we.' It is not the triumph of evil so much as the absence of any sense of the good, of honor, honesty, and of simple common decency.

No Cause For Panic (westcoastjan)

Cyprus and Eurogroup reached a political agreement on a bailout programme totaling 10 billion euro for the Cyprus economy, in the early hours of Saturday morning, following ten hours of talks in the Belgian capital. The agreement includes an unprecedented one-off levy on bank deposits to raise 5.8 billion euro and an increase in corporate tax from 10% to 12.5%.

Wall Street: $474 Million, Detroit: $0 (Thomas C.)

The debt sales cost Detroit $474 million, including underwriting expenses, bond-insurance premiums and fees for wrong-way bets on swaps, according to data compiled by Bloomberg. That almost equals the city’s 2013 budget for police and fire protection.

Tax Credits or Spending? Labels, but in Congress, Fighting Words (jdargis)

In budget proposals put forward last week, both Democrats and Republicans called for scrubbing billions of dollars’ worth of the popular deductions, loopholes, preferential rates and credits that litter the tax code, mostly benefit higher-income taxpayers and often reflect undue government interference in economic decisions. But the two sides are sharply divided what should happen to any revenue raised.

Federal government to announce plan to increase tanker safety (westcoastjan)

According to a senior government source, since the investment in the program, the number of spills observed offshore in the commercial shipping lanes has significantly declined, and evidence gathered by the NASP has led to 34 charges as a result of 29 incidents, and approximately $1.86 million in fines.

The federal government will provide long-term funding to NASP and say they will boost surveillance efforts in areas such as northern B.C.

MIT Develops Meltdown-Proof, Nuclear Waste-Eating Reactor (James S.)

Transatomic, founded by a pair of very smart and innovative young nuclear engineers, has updated the molten-salt reactor, a reactor type that’s highly resistant to meltdowns. Molten-salt reactors were demonstrated in the 1960s at Oak Ridge National Lab, where one test reactor ran for six years. What remains is raising $5 million to run five experiments to help validate the new basic design.

Disease threatens aquaculture in developing world (westcoastjan)

The study, published in February's issue of the Journal of Applied Ecology, is the first analysis of the global pattern of disease outbreaks in aquaculture, according to its lead author, Tommy Leung, a lecturer in parasitology and evolutionary biology at the University of New England, Australia.

By examining published reports of disease-induced mortalities in commercial aquaculture, it found that outbreaks were more deadly and progressed quicker in the tropics than in temperate regions, after controlling for differences in veterinary and disease-reporting infrastructure.

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