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    Daily Digest 3/7 – A Recession For Both Sexes, Camden Police Force Cut In Half, Obama Considers Tapping Oil Reserve

    by DailyDigest

    Monday, March 7, 2011, 3:49 PM

  • His Recession, Becoming Hers
  • Police Force Nearly Halved, Camden Feels Impact
  • HSBC squashes reports of its flight from UK as ‘speculative’
  • Libya: A Rebel Setback
  • Obama Considers Tapping Oil Reserves
  • Tech Talk – Countries producing around 2 mbd – Nigeria, Angola, Libya and the UK
  • The Two Most Important Charts For The Near-Term Future Of Oil Prices
  • In New Food Culture, a Young Generation of Farmers Emerges

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His Recession, Becoming Hers (jdargis)

Heather Boushey, an economist with the Center for American Progress, points out that since the economic recovery officially began in June 2009, private-sector employers have hired a net total of 503,000 men, while jobs held by women have declined by 141,000.

Police Force Nearly Halved, Camden Feels Impact (jdargis)

Residents have taken their own precautionary measures. One homeowner, Randolph Norfleet, has used the heavy snow this winter as a deterrent to local drug dealers, shoveling each storm’s accumulation onto the footpath where the dealers lurked alongside his home.

Police headquarters now sits nearly empty, its front reception window sometimes closed, as most of the department’s staff has been pushed onto the street for patrol duty. Detectives cannot devote as much time to investigations; a widely praised bicycle unit was disbanded. Even the canine unit lost two of its three dogs.

HSBC squashes reports of its flight from UK as ‘speculative’ (pinecarr)

HSBC, which stands for Hong Kong and Shanghai Banking Corporation, is expected to decide in the autumn whether to keep its headquarters in the UK and will be a key test of the coalition’s tax policies.

Flint has warned that the bank levy – which costs the bank £700m a year – is a location tax. The bank is also concerned about the banking commission which reports in September and could recommend that banks such as HSBC are broken up.”

Libya: A Rebel Setback (jdargis)

And so the day went, a blend of bravado and real bravery, too, and fear and confusion and chaos, with the rebels gradually inching closer and closer to the outskirts of the town. Moving with them, my colleagues and I took temporary cover behind hummocks of earth when the fighters began yelling and running, or when artillery shells, which the government forces had begun to fire, exploded in the near distance. The shelling and firing back increased in tempo toward the afternoon. The rebels around us were firing Katyushas at the town’s edges from multiple rocket launchers, and Qaddafi’s men were firing back, “walking” the artillery shells close to the rebel positions.


Obama Considers Tapping Oil Reserves (jdargis)

Administration officials have sent mixed signals about the possibility of opening the reserve, which would add supply to the domestic oil market and tend to push down prices.

Energy Secretary Steven Chu said on Friday that the administration was monitoring prices, but he has been reluctant to endorse more aggressive steps.

Tech Talk – Countries producing around 2 mbd – Nigeria, Angola, Libya and the UK (pinecarr)

The growing concerns about the stability of the countries of the Middle East and North Africa (MENA), because they make significant contributions to world oil supply, adds additional meaning to these weekly posts on the world’s major oil producers.

The Two Most Important Charts For The Near-Term Future Of Oil Prices (pinecarr)

On one hand, the Crude Oil non-commercial net specs are at an all time high: well over 100% more than during the oil time highs in crude in 2008. This means that speculators are anticipating an even more powerful move higher than that seen in the summer of 2008 when Crude hit $150 (it also presents the possibility of an unprecedented plunge in oil should the speculative thesis not be realized).

Just as important, the performance of energy as a subsegment of all commodities is currently materially underperforming all other commodities, with Previous, Agircultural and Industrial commodity classes all doing far better than crude and its peers. Should there be a rotation out of other commodities into the energy complex, look for crude to surge far beyond $125 in the next few weeks. All it would take is one Saudi geopolitical spark.


In New Food Culture, a Young Generation of Farmers Emerges (jdargis)

Now, Mr. Jones, 30, and his wife, Alicia, 27, are among an emerging group of people in their 20s and 30s who have chosen farming as a career. Many shun industrial, mechanized farming and list punk rock, Karl Marx and the food journalist Michael Pollan as their influences. The Joneses say they and their peers are succeeding because of Oregon’s farmer-foodie culture, which demands grass-fed and pasture-raised meats.

“People want to connect more than they can at their grocery store,” Ms. Jones said. “We had a couple who came down from Portland and asked if they could collect their own eggs. We said, ‘O.K., sure.’ They want to trust their producer, because there’s so little trust in food these days.”

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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