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    Daily Digest 7/3 – N.Y. Ruling Could Lead To More Fracking Bans, The Economics Of Fake Degrees

    by DailyDigest

    Thursday, July 3, 2014, 2:43 PM


What About the Jobless Who Aren’t Looking? (jdargis)

Finally, we have the people who are not counted as unemployed because they are not actively seeking work. We don’t know how many of these people might return to the labor market as the economy improves. One simple measure: In June, the government reported that 2.7 percent of American adults said they were not actively looking for work, but they would still like a job now. About 2 percent of adults were in that category in December 2007.

The Economics of Fake Degrees (jdargis)

nside Higher Ed reports on diploma mills and fake degrees from time to time but can’t possibly cover every revelation that some professor or state official has a bogus degree, or that a “university” turns out to be run by a convicted felon from his prison cell. Even a blog dedicated to the topic, Diploma Mill News, links to just a fraction of the stories out there. Keeping up with every case is just too much; nobody has that much Schaudenfreude in him.

How India’s Economic Rise Could Bolster America’s Economy (jdargis)

For many years, there have been serious concerns about long-term growth in India. Led by a rickety Congress Party coalition, the previous government couldn’t break the cycle of subpar economic performance and part the thickets of bureaucracy and corruption precluding reform. These failures were prime reasons for Modi’s victory. Even with Modi’s win, expectations for India haven’t been radically adjusted: India’s economy is still expected to grow 5.5 percent this year and a bit over 6 percent next year, according to the World Bank.

The Disloyal (June C.)

Think how quickly we were fed the new concept of Too Big To Fail, which actually means outside of both democratic and judicial control. A new vocabulary for a new era. At home TBTF, ‘technocratic’ governments, Austerity cuts, wage restraint for the many but not for they few, and abroad regime change, rendition, secret flights to secret prisons for the new disappeared without trial, appeal or hope. No judge, no jury just the assumption of guilt. Today it is others they will come for. When will it be people you know, or you or your children? When will voicing or organizing opposition become domestic extremism?

Gold Prices Benefit From Economic Sins (GE Christenson)

Most governments spend much more than their income and borrow the difference– economic sin #1. The result is a larger money supply and increasing debt. Eventually the central bank begins “printing money”– economic sin #2. Consumer price inflation accelerates and angry citizens watch as their capital, savings, and pensions are consumed in the fires of government created inflation– economic sin #3. A diversion, such as another war or invasion, is then needed and economic sin #4 commences. Prognosis: more spending, more debt, and the cycles of economic sins and economic destruction will continue.

Similarities Between 1914 And 2014 (Taki T.)

I believe we are seeing similar patterns evolve today. The rising powers in the East under the leadership of China and Russia are calling the Western supremacy, led by the United States, into question. The Western world is facing the biggest economic crisis since WWII and has accumulated the largest amount of public and private debt ever (this is not to say that the East does not have its fair share of problems). Similar to the British situation in 1914, the United States’ share of world GDP is sinking. There is no real reason for optimism that these problems will change any time soon.

Possession Is 9/10ths of the Law (June C.)

I believe they have accumulated the metal which is now safely onshore and vaulted while they are short derivative contracts. Do you see how the old saying “possession is 9/10ths of law” applies here? Does it even matter “how short” they are if they reserve the right to default? I’d like to add that in my opinion, if this has been done and the short sales truly exist (again, I firmly believe that they do), it was not to depress the price. I don’t think the Chinese care one way or the other whether they were paying $1,000 per ounce or $10,000 per ounce as long as they got delivery of it. The suppression of price acted to scare buyers away and shake some loose change out of the pockets of nervous or scared owners. The price suppression was meant to create less competition and even a little bit of added supply, “dollar price” was unimportant.

N.Y. Ruling Could Lead To Fracking Bans Elsewhere In U.S. (James S.)

Town officials in New York say they hope a ruling by the state’s top court will inspire cities elsewhere in the country to resist efforts to use hydraulic fracturing, or “fracking,” in their jurisdictions. The New York Court of Appeals ruled 5-2 on June 30 that the towns of Dryden and Middlefield were within their rights to use zoning laws to keep energy companies from fracking within their borders.

Gold & Silver

Click to read the PM Daily Market Commentary: 7/2/14

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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