Fear The Inflation (Nervous Nelly)
A core rate of inflation that is rising north of 5 percent YOY should send shivers down the spines of those at the Fed and consumers alike. Amazingly though, Mr. Bernanke is still debating if a $3.6 trillion Fed balance sheet and the $85 billion worth of new credit creation each month is doing enough damage to the value of the dollar. The Fed’s inflation is especially painful to the middle class due to the fact that real median incomes have fallen 6.1 percent since the start of the Great Recession, which began in December 2007.
Viewpoints: Is a salary of £300,000 a week too much? (westcoastjan)
Gareth Bale’s new employers Real Madrid will – if reports are to be believed – be paying him more than £250,000 a week. That’s £13m a year. Put another way, the Welshman will earn in just seven days what many of those who’ll follow him in the stands at the Estadio Bernabeu earn in an entire decade. Nice work if you can get it.
Pharmacies, doctors fail to stop narcotic shopping spree (westcoastjan)
“Now we know how easy it is to use somebody else’s identity to get any kind of prescription drugs they want,” said her sister Lisa Adamson, who works as a road construction flag person and lives in Burnaby.
Detroit Billionaires Get Arena Help as Bankrupt City Suffers (westcoastjan)
The 18,000-seat complex and a planned $200 million private development nearby would transform a blighted area into one with apartments, offices, restaurants and shops, says Snyder, who controls the city through an appointed manager. Critics call the plan a giveaway to Mike Ilitch, owner of the Red Wings, the Tigers and the Little Caesar’s pizza chain.
Two other trends will exert powerful influence on incomes in the future: the aging workforce and the growth of minorities—especially Hispanics —as a percentage of the overall population. As the baby boomers retire, the U.S. population will become top-heavy with a larger portion of lower-earning seniors. And since average earnings for blacks and Hispanics are lower than the national earnings average, the median income will fall as lower earners become a greater percentage of the workforce.
Starting around 100 years ago, the world developed an insatiable appetite for silver as an industrial material once it was discovered that the metal had physical and chemical properties more varied and vital than any other metal. Those properties included silver being the best conductor of electricity, the best transfer agent for heat, the best reflector of light, the most diverse medical properties and chemical properties that ranged from making photography possible to use as a catalyst for other important chemical production.
To the southwest sits Egypt and the Suez Canal, a vital route connecting the Red Sea to the Mediterranean Sea. The canal transports nearly 800,000 barrels of crude and 1.4 million barrels of petroleum products each day.
German consumers already pay the highest electricity prices in Europe. But because the government is failing to get the costs of its new energy policy under control, rising prices are already on the horizon. Electricity is becoming a luxury good in Germany, and one of the country’s most important future-oriented projects is acutely at risk.
On the other side, Russia very much prefers the Assad regime for a whole bunch of reasons. One of those reasons is that Assad is helping to block the flow of natural gas out of the Persian Gulf into Europe, thus ensuring higher profits for Gazprom.
Libby Grundy, Director of Food For Life, says: “Instead of seeing growing and gardening as something peripheral, the School Food Plan recognises that all areas of the curriculum can be taught in relation to food whether it’s history, science, or geography. You can bring food and cooking and growing into all areas of teaching”.
Warning Labels and the Psychology of Climate Change (westcoastjan)
I like to use the analogy of accidentally putting my hand on a hot stove. When that happens, I get an instant pain signal that prompts me to remove my hand. It’s an adaptive quality that causes me to adjust my behaviour to a change in my environment. With climate change, there is a delay between cause and effect. We get no immediate signal to alter our behaviour so we fall victim to our cognitive biases. Our resulting decisions are maladaptive.
Could smuggling be to blame for Venezuela’s food shortages? (westcoastjan)
The bachaqueros are notorious in these parts. And they are widely blamed for hiring poor locals en masse to empty the shelves of the subsidised products.
There are massive incentives to do so. The goods remain at a fixed price whilst inflation is crippling the rest of the Venezuelan economy.
The great Cold War potato beetle battl (westcoastjan)
The East German press reported a number of other cases in which planes flying overhead had been followed by a plague of potato beetles. Politicians raged against the “six-legged ambassadors of the American invasion” and a government report described “a criminal attack by American imperialist warmongers on our people’s food supply”.
So the country began to mobilise against the enemy insects.
Gold & Silver
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