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    Daily Digest 4/24 – U.K. May Have Slipped Into Third Recession, Pensions In Danger

    by saxplayer00o1

    Wednesday, April 24, 2013, 2:41 PM

Economy

U.K. may have slipped into a third recession

The U.K.’s gross domestic product fell by 0.3% in the final quarter of 2012. A triple-dip recession would be unprecedented, and pile pressure on finance minister George Osborne to spread the pain of government spending cuts over a longer period of time.

Police Warn Budget Cuts Could Lead to Fewer Officers (Las Vegas)

As violent crime numbers increase, the Las Vegas Metropolitan Police Department is warning that fewer police officers will be patrolling the valley’s streets.

Clark County officials asked the police department to cut an extra $13 million from its budget, eliminating more than 100 positions, including police officers.

Meals on Wheels faces Federal cuts (San Antonio)

“We are really scrambling,” said CEO Sharon Baughman. “We’ll probably lose funding for about 1,200 meals (this year), which gives you somewhere around 38 seniors who we won’t be able to extend access to.”
Baughman took care to reassure current recipients that their meals aren’t in jeopardy.

“No one is getting kicked out of the program,” Baughman said. “But these cuts will mean we can’t offer as many new applicants a spot.”

Time for Growth: Austerity Has ‘Reached its Limits,’ Barroso Says

Barroso’s comments came just ahead of the release of the EU’s latest budget deficit numbers by the body’s statistics agency Eurostat on Monday. They showed that for 2012, though Europe’s combined deficit level dropped, the overall debt for the 17 members of the EU currency union jumped from €8.2 trillion ($10.7 trillion) to €8.6 trillion. The drastic belt-tightening policies imposed on a number of ailing member states have apparently had little effect.

Utah cancer clinics turning away Medicare patients

Cuts to Medicare are driving Utah cancer clinics to turn away patients and refer them instead to hospitals for treatment.

Oncologists say the cuts, ordered April 1 under the recent budget sequester, reduced what Medicare pays them for expensive chemotherapy drugs, making it impossible for them to administer the drugs and stay afloat.

San Francisco official probes whether Nevada is ‘patient dumping’

Between 2009 and 2012, Nevada slashed its mental health budget to address deficits, reducing spending by 28 percent.

During that same period, the number psychiatric patients bused out of Rawson-Neal grew 66 percent. By last year, the hospital bused out patients at a pace of well over one a day, shipping nearly 400 patients to 45 states.

MU sees 866 percent debt increase over past 10 years

Miami’s total debt grew from more than $44 million in 2002 to more than $427 million last year, an 866 percent increase and the fourth-highest debt total in Ohio, while total interest owed grew more than 1,100 percent, before adjusting for inflation. Rising debt levels have funded facility improvements that will eventually cost the university between $600 and $700 million.

City remains knee-deep in more than 7,000 abandoned properties (Dayton)

The city knocked down 1,172 abandoned structures – single-family homes, strip malls, multi-unit buildings, commercial properties etc. — between 2009 and 2012, using money that included $8 million in federal funds.
The average cost for a demolition, which includes asbestos removal, is $11,000.

Call for new U.S. crossing fee at land borders criticized in both countries

The call to study a new levy — contained in the U.S. Department of Homeland Security’s proposed budget for 2014 — is needed to defray increased security costs, proponents say.

However, Michael MacKenzie, executive director of the 70,000-member Canadian Snowbird Association, said Monday that Washington is trying to ease its “desperate financial situation” on the backs of Canadian travellers.

Indian Jewelers Offer Premium on Gold Imports as Demand Surges

“Banks and agents don’t have much gold left to sell and jewelers are buying at a premium to meet the rise in retail demand,” Kamboj said. “Small and retail investors are buying more coins and bars. Looking at the rate at which people are buying, imports are bound to rise.”

Parents cutback on food for kids to cope with rising prices (UK)

A fifth of UK parents are buying less food for their children due to rising prices with families in the South East hit the hardest.

According to a report from vouchercodes.co.uk, two thirds say they are being forced to spend more on the same food for their children than 12 months ago as prices have rocketed while incomes remain stagnant.

Bernanke Gets Japanese Assist in Helping Homebuyers: Mortgages

U.S. homebuyers are getting an unexpected boost from the Bank of Japan.

As Governor Haruhiko Kuroda’s efforts to spark inflation by doubling the central bank’s bond purchases shrinks the available debt in his country, traders are betting that will bolster demand for U.S-owned Ginnie Mae’s mortgage securities, pushing up prices and lowering yields that guide home-loan rates.

Sanford facing $20 million shortfall; pensions in danger

Triplett said the city’s revenues have dropped by $4 million over the past four years, but pension costs to the city have gone up by $2 million.

Now the city does not have enough money to pay employees what they were promised for retirement.

Gold & Silver

Click to read the Gold & Silver Digest: 4/23/13

Provided daily by the Peak Prosperity Gold & Silver Group

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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8 Comments

  • Wed, Apr 24, 2013 - 3:56pm

    #1

    saxplayer00o1

    Status Silver Member (Offline)

    Joined: Jul 30 2009

    Posts: 2923

    Spanish companies turn to junk bonds as bank finance dries up

    Headlines:

    1. Spanish companies turn to junk bonds as bank finance dries up
    2. Santa Clara County Faces $1.68 Billion Unfunded Liability
    3. Wayne County faces serious cash flow problem; is emergency manager next?

     

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  • Wed, Apr 24, 2013 - 5:33pm

    #2

    saxplayer00o1

    Status Silver Member (Offline)

    Joined: Jul 30 2009

    Posts: 2923

    U.K. Royal Mint Gold Coin Sales More Than Tripled in April

    U.K. Royal Mint Gold Coin Sales More Than Tripled in April

     

    Link was found at Zerohedge…along with some of their comments.

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  • Wed, Apr 24, 2013 - 7:53pm

    #3

    saxplayer00o1

    Status Silver Member (Offline)

    Joined: Jul 30 2009

    Posts: 2923

    APMEX Silver Eagles now as high as $10.49 over spot

    Scroll down

     

    Update…The 1993 is now $11.49 over spot.

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  • Wed, Apr 24, 2013 - 8:50pm

    #4

    Poet

    Status Platinum Member (Offline)

    Joined: Jan 20 2009

    Posts: 976

    Bacteria Churn Out First Ever Gasoline-Like Biofuel

    Wow, what a fantastic discovery!

    Bacteria Churn Out First Ever Petrol-Like Biofuel (April 24, 2013)
    "John Love from the University of Exeter in the UK and colleagues took genes from the camphor tree, soil bacteria and blue-green algae and spliced them into DNA from Escherichia coli bacteria. When the modified E. coli were fed glucose, the enzymes they produced converted the sugar into fatty acids and then turned these into hydrocarbons that were chemically and structurally identical to those found in commercial fuel."
    http://www.newscientist.com/article/dn23431-bacteria-churn-out-first-ever-petrollike-biofuel.html

    Cue the news from 2023: Strange phenomena have researchers around the world perplexed: Rural farmers and nomadic herders are encountering fields of hay and traditional grazing lands suddenly turned into a soggy mess smelling of aviation fuels or smouldering of flames in the blazing heat…

    Don't believe that could happen? Consider that bacteria can exchange genes and develop survivability and resistances. Then, read this:
    http://www.occupymonsanto360.org/2013/03/25/the-gmo-that-could-have-killed-nearly-all-life-on-earth/

    Poet

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  • Wed, Apr 24, 2013 - 11:24pm

    Reply to #4
    trendsearcher

    trendsearcher

    Status Member (Offline)

    Joined: Aug 03 2009

    Posts: 4

    Check out Saphire

    They are already making biofuel with agae pyrolysis.  The algae are GMO to have ten fold the amount of oil as natural agae. They grow them in un-lined ponds that drain into the sea of Cortez.  I wonder what sorts of un intended consequences will come from these newly created beast.On the results side apparently they can target specific molecular weights.

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  • Wed, Apr 24, 2013 - 11:48pm

    #5

    Arthur Robey

    Status Platinum Member (Offline)

    Joined: Feb 03 2010

    Posts: 1814

    A Matter of Context. Thanks Poet.

    I have left my comment at the occupymonsanto website.

    Let me see if there is a common thread in the Daily Digest.

    • Houses are being demolished
    • The mentally unsound are being given the Bum's Rush
    • No more food for the old
    • Pools of money (Pensions) are being stolen
    • The unwell are given a cold shoulder.
    • People are rushing to buy what they percieve to be a tradeable asset, Gold. (The Indians and Chinese can teach us a thing or two about surviving famine.)

    Did you get it?

    The vulnerable and weak are being sacrificed first. This is what I would expect when I inspect the Limits to growth charts. Observe the "Services per capita" line.

    I am reading "Willfully Blind" by Margaret Heffernan. Don't expect any acknowledgement from the man in the street.

    There is something definately odd about the crowd that hangs about on this site. Let us hope that it puts us at an advantage.

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  • Thu, Apr 25, 2013 - 12:15am

    Reply to #4

    Arthur Robey

    Status Platinum Member (Offline)

    Joined: Feb 03 2010

    Posts: 1814

    A Body Blow Trendy.

    How apropos Trendy. Please read my comment on the occupymonsanto site.

    As Professor Lovelace has pointed out the Oceans support life and Life supports the Oceans.
    How so?
    Molten magma on the sea floor has enough energy to split water. Life uses this energy that is available to it by recombining the hydrogen and oxygen to form water.
    Next time someone says that they have a wonderful new bug that can split water, think about what it would do to this balancing act when it get into the Oceans of the world.
    The self restraint and cooperation of bio-organisms was established a long time ago, because it works.

     

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  • Fri, Apr 26, 2013 - 7:58pm

    Reply to #4
    trendsearcher

    trendsearcher

    Status Member (Offline)

    Joined: Aug 03 2009

    Posts: 4

    Ice-nin

    Kurt Vonnegut beat us to it.  His fiction story is one of the classics illustrating the broad scope of potential impacts to a narrowly focused scientific endever.  How do we ever fully vet out all potential un intended consequences to the implementation of a new technology?In the story some company comes up with a new kind of ice that sinks instead of floats.  Wiz bang!  They start selling it in bars as a new sensation.  Until it runs down the drain and into the oceans.  The oceans freeze solid – end of story.  Vonnegut was quite a futurist, in addition to being a great writer.

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