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    Daily Digest 5/12 – ‘Methane Backpacks’ For Cows, Defending The Open Internet

    by DailyDigest

    Monday, May 12, 2014, 2:33 PM


‘Rich List’ counts more than 100 UK billionaires (jdargis)

Philip Beresford, who compiles the list, told the BBC “culture, financial services, nice tax regime, good education for their kids and a nice lifestyle where they meet their friends” were among the reasons billionaires were attracted to the UK.

BBC financial correspondent Andrew Verity said the increase in the number of billionaires on the list undermined the argument that making them pay more tax would drive them away.

EJ Dionne: The Democrats’ strategic ambiguity (jdargis)

Yes, he began by accentuating the positive. “When I came into office, the American economy was in a freefall that people don’t still fully appreciate,” Obama said. “And by most measures, what we’ve accomplished together as a country over the last five years has been significant: 9.2 million new jobs, an auto industry that has come roaring back, a financial system that’s stabilized, trillions of dollars of wealth recovered and restored because housing came back and people’s 401 pensions bounced back.”

It’s a lot of good news. But note that word “significant.” It’s less buoyant than, say, “fantastic” or “wonderful.” The understatement reflected what Obama said a moment later: “What we also know is that the American public is anxious.”

Schooled (jdargis)

Booker was part of the first generation of black leaders born after the civil-rights movement. His parents had risen into management at I.B.M., and he grew up in the affluent, almost all-white suburb of Harrington Park, about twenty miles from Newark. Six feet three, gregarious, and charismatic, Booker was an honors student and a football star. He graduated from Stanford and went on to Oxford as a Rhodes Scholar and then to Yale Law School. Ed Nicoll, a forty-year-old self-made millionaire who was studying law at Yale, became one of his close friends. He recalled Booker telling inspirational stories about his family during abstract class discussions, invariably ending with a point about social justice. “He got away with it and he enchanted everyone from left to right,” Nicoll said. “In a class where everybody secretly believed they’d be the next senator or the next President of the United States, it was absolutely clear that Cory had leadership written all over him.”

Technical Picture: Gold Neutral, Silver Fragile, Palladium Breakout (Taki T.)

Gold Spot price (GOLDS-1.299.62, see Figure 23) is following the technical adage “the bigger the drop, the longer the need for repair.” Gold has now spent one year in a range between 1,400 resistance and 1,200 support, direction unknown. This is a normal part of the process of repair, if price is to move higher at a later date. A neutral pattern can also precede another decline in an ongoing downtrend. Monthly momentum is still negative but flattening, and weekly momentum is positive but flattening. Neutral remains the trend until one of the above parameters is breached. The brief attempt to penetrate the 2012 downtrend was aborted and price is interestingly back below and so far, rallies are struggling there.

Defending The Open Internet (jdargis)

“Sometimes what everybody thinks about the law is more important than what the law itself says,” Mr. Wu told me recently in his Columbia office. “I think that’s what’s happened with net neutrality. It’s become a kind of norm of behavior, what you can and can’t appropriately do with the Internet. It’s got to be open. Except for legitimate purposes like protecting the network itself, there shouldn’t be discrimination against one form of content or another or one provider or another. And people generally accept that. Until now, the idea in a way has been more important than what the regulations have actually said.”

‘Methane backpacks’ capture cow farts, turn them into green fuel (Wendy SD)

Argentina’s INTA governmental research body has developed cow backpacks that use a tube from the cattle’s rumen leading to a bag, to trap the methane they produce in order to turn it into green energy. You’d think this a joke, till you realize its 250 liters of methane a day.

Asia at Risk of Oil Supply Disruption (James S.)

IEA member countries, which include the U.S., the EU, as well as South Korea and Japan, have all agreed to store 90 days’ worth of oil supply in strategic reserves, which would be deployed in the event of a supply shortage. China, although not a member, has developed its own reserve. India, on the other hand, has not, and thus would be severely impacted.

A Lesson in Farming, Classroom to Cafeteria (jdargis)

According to a United States Department of Agriculture report released this month, there was a slight uptick between 2007 and 2012 in the number of new farmers under the age of 35, but over all, the number of farmers shrank by nearly 20 percent. The total number of farms also fell, by more than 100,000, as large food producers expanded and land prices rose — putting more pressure on the small family farm.

Gold & Silver

Click to read the PM Daily Market Commentary: 5/9/14

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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