Hukou, or permanent residential permit, ties subsidized social services
including health, housing, education or pensions to one’s legal residence
and is much coveted in first- and second-tier cities. Many migrant workers
without local hukou face complicated home buying requirements such as minimum
working time in the city.
On the next financial crisis, Mr. Long contends, “I think 2008 was an early warning signal of the magnitude of the problem. We didn’t fix it. We did extend and pretend. Dodd-Frank did not solve the underlying issues. The global swaps market went from $600 trillion to $700 trillion last year, alone. We’ve watched the shadow banking system push through $72 trillion. So, we didn’t stop it. We just, in fact, inflamed it even worse, and we got into even riskier kinds of assets. Is it imminent? No, I think we are talking 2015. I think we have a little bit of a deflation scare before we get into the hyperinflation. Don’t underestimate the central bankers and the politicians’ ability to kick the can down the road. They still got some more bullets here.”
The only way the Fed and Central Banks can continue propping up their fiat currencies is with massive monetary printing and bond purchases. While this tactic keeps the system together, it does so by adding debt on top of more debt. This debt can only be settled by a growing economy.
Unfortunately, the world is currently experiencing a plateau in global oil production. Without continued growth of the world’s oil supply, the massive government debt (which backs the global fiat currencies) becomes a real nightmare.
The ISIL Threat And Iraq (Ivo M.)
ISIL represents a new threat to the region. In this report, we will offer a historical analysis of how the modern Middle East was constructed and why the construct is coming under pressure. One of the keys to understanding why ISIL is so potent is to differentiate it from al Qaeda; we will analyze the differences. Finally, we will offer the strongest reason why we believe ISIL has staying power—simply put, the regional powers are generally concerned about the group but are trying to use its presence to boost their own specific goals. We will also note two other key issues, ISIL’s greatest weakness and the possibility of a broader sectarian conflict. As always, we will conclude with market ramifications.
“It’s inevitable at some point there will be a cap on student loan guarantees,” he said. “And when that happens you’re
going to see a repeat of what we saw in the housing market. When easy credit for buying or flipping a house disappeared we saw a collapse in the price housing, and we’re going to see that same collapse in the price of student tuition, and that’s going to lead to colleges going out of business.”
“This technology will open up that 95 percent that surface mining can’t get to,” says Peter Wold, whose family sold to Linc Energy some of the 180,000 acres of coal it owns in Wyoming. “It creates an opportunity for the United States to be energy independent. The potential here is phenomenal.”
Looking ahead to the first quarter of 2013, producers in US and Europe should be aiming to push prices upwards if there is the anticipated rise in demand as usually occurs. However, these increases have been short-lived in the last few years. In Asia, producers may be able to secure further price rises from the low levels reached in late Q3, but only if Chinese consumption improves and regional production is in line.
Presentation for the Council Working Party on Shipbuilding (Arthur Robey)
The global economic crisis has pushed the world steel industry into recession: demand for steel has contracted sharply, steelmakers have introduced major production cuts, trade in steel has declined sharply, steel prices and employment are also down substantially and steelmaking capacity continues to increase despite the market downturn.
Bio-fuel from Whisky distilling in Scotland (Wendy SD)
Edinburgh-based biofuel company Celtic Renewables has signed an agreement with Europe’s foremost biotechnology pilot facility to undergo next-stage testing of its process to turn whisky by-products into biofuel that can power current vehicles.
U.S. Eases Longtime Ban On Oil Exports (James S.)
For the first time in almost 40 years, the U.S. Commerce Department has given two American companies permission to export ultralight oil, known as condensate.
The beneficiaries of the move so far are Texas-based Pioneer Natural Resources Co. and Enterprise Products Partners LP. The decision, reported June 24 by The Wall Street Journal, is expected to prompt requests from other companies to export their oil.
Ammonia can be stored on-board in vehicles at low pressures in conformable plastic tanks. Meanwhile on the forecourts, the infrastructure technology for ammonia is as straightforward as that for liquid petroleum gas (LPG).
Professor Bill David, who led the STFC research team at the ISIS Neutron Source, said “Our approach is as effective as the best current catalysts but the active material, sodium amide, costs pennies to produce. We can produce hydrogen from ammonia ‘on demand’ effectively and affordably.
Turning Fuel Into Food (Eric G.)
Humans are living organisms too. We labor in search of food, and to the extent that we can gather more food energy than we burn while searching for it we persist, as individuals and as a species. Anthropologists estimated the energy returns achieved by hunter-gatherer tribes in the range of 5-10 on the basis of food yield per labor energy input, meaning that for every calorie of labor energy these people invested searching for food, they acquired 5-10 edible food calories . Not too shabby, and this solid return illustrates why many in these groups only had to work a few hours each day for their subsistence.
Gold & Silver
Provided daily by the Peak Prosperity Gold & Silver Group
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