Silver & Crude: Interesting Parallels (GE Christenson)
Both crude and silver took about 9.5 years to rally from a significant low to an important high. The high to low ratios were similar – over 13 and over 12. Both collapsed after their blow-off highs and fell 76% and 62% from their highs. Crude rallied during the next four years and is now over triple its crash low. Silver, a much smaller and more volatile market, seems likely to do something even more dramatic.
In Canada, the securitization of government-backed mortgages (mortgages that have been insured by the CMHC, or other insurers such as Genworth) has exploded since the early 2000s, when the Canadian Mortgage Bond program was created and the CMHC lifted its $250,000 ceiling on insured mortgages, allowing banks to securitize most of their mortgages, the report said.
Bitcoin grabbed headlines in early July when Cameron and Tyler Winklevoss, the twins famous for having alleged that Mark Zuckerberg stole the idea that became Facebook Inc (FB.O), applied to the SEC to launch a Bitcoin-tracking exchange-traded product (ETP) called the Winklevoss Bitcoin Trust.
It is unclear whether the SEC's concerns about Bitcoin laid out in its investor alert on Tuesday could pose a problem for that offering.
Influencing China's healthcare industry (westcoastjan)
But increasingly, doctors in China are bearing the brunt of public anger over bribery. Patients often complain of being given tests they do not need and being prescribed expensive drugs.
According to Chinese state media, there were more than 17,000 violent incidents in Chinese hospitals in 2010. Several hospitals in Beijing have also reportedly beefed up their security.
In a shocking new survey commissioned by the Labaton Sucharow law firm, Wall Street insiders say that breaking the law, screwing your clients and covering up crimes is a way of life on Wall Street. The shock is not that cheating is going on. We all know that. The shock is that these financiers would actually admit it on a survey. This should tell us that the Wall Street culture is so brazenly corrupt, so confident of not getting caught, so certain that a passive public won't fight back that those surveyed didn't even bother to lie about the fact that they were living, breathing sociopaths.
After Goldman’s con became public, its CEO, Lloyd Blankfein was hailed as a visionary for offloading mortgage-backed securities before the shit hit the finance fan. Blankfein hailed himself for, he said, "doing God's work". God did well. Blankfein’s bonus in 2007 brought his pay package to $69 million for the year, a Wall Street record.
Rather than prison or penury, Blankfein was appointed advisor to Harvard University’s business and law schools.
Slingatron vision is to launch payloads into orbit (Arthur Robey)
&A Kickstarter project features Slingatron, the work of a seasoned team of scientists as a way to put cargo into orbit. The Slingatron is a mechanical, hypervelocity mass accelerator. The inventor of the Slingatron is Dr. Derek A. Tidman, author of the book, "SLINGATRON – A Mechanical Hypervelocity Mass Accelerator." The book sets forth the concept and now Hyper V Technologies of Chantilly, Virginia, the project leaders, are to put the Tidman concept into action.
Electric vehicles may put 'disruptive load' on grid (westcoastjan)
Partly, that's because owners typically charge their vehicles at night, when the typical home isn't drawing much power. But it's also because, unlike other appliances such as stoves and dryers that are typically on for just a short time, electric vehicles may be charging for up to eight hours.
"That has an impact on the distribution grid," Odell added.
Coal industries and power stations use as much as 17 percent of China’s water, and almost all of the collieries are in the vast energy basin in the north that is also one of the country’s driest regions. By 2020 the government plans to boost coal-fired power by twice the total generating capacity of India. About half of China’s rivers have dried up since 1990 and those that remain are mostly contaminated. Without enough water, coal can’t be mined, new power stations can’t run and the economy can’t grow. At least 80 percent of the nation’s coal comes from regions where the United Nations says water supplies are either “stressed” or in “absolute scarcity.”
Oil Sands: 4,000 Environmental Infractions, 40 Punishments (westcoastjan)
TransCanada, the company trying to convince U.S. president Barack Obama to approve the construction of the Keystone XL pipeline that will see a massive expansion of the Alberta oil sands, was out last week touting Canada as a world leader in environmental protection.
The Nuclear Stars Align (James S.)
Combine this with Japan's nuclear issues (and an unusually hot summer in the region) and you get "the stars aligning" for a big lift in LNG demand. But it is temporary. Observers celebrating +$15/MMbtu prices in this part of the world need to remember that.
hat the Mendenhall Glacier is thinning, and has been for decades, is only part of the explanation. Water from snowmelt, rain and thawing ice are also combining in new ways, researchers said — first pooling in an ice-covered depression near the glacier called Suicide Basin, then finding a way to flow downhill.
Why Has Global Warming Stalled? (westcoastjan)
Gradually the words 'pause' and 'hiatus' which first featured in the blogs have crossed to the media and then to the scientists professionally engaged in researching the global climate.
The headline – which the scientists will not thank me for – is that no one is really sure why the rate of warming has stumbled.
UK forests still feeling the impacts of 1976 drought (westcoastjan)
The researchers found that in the period immediately after 1976, there was a significant growth in beech mortality. Between 1977 and 1992, 17% of these trees died, while there were no deaths among the oaks.
"The beech growth dropped very suddenly," said Prof Alistair Jump from the University of Stirling who carried out the work along with researchers from Joint Nature Conservation Committee.
The Bitter Battle Over Alaska's Salmon (westcoastjan)
"Our people have lived off fishing for thousands of years," she tells me, as a rich aroma of woodsmoke and singed salmon meat hangs in the air. "It's our past and our future."
Gold & Silver
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