Daily Digest

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Daily Digest 7/8 - Charles Ferguson's "Inside Job", Relentless Heat Wave Continues, Is The Carter Doctrine Working?

Sunday, July 8, 2012, 12:14 PM

Watch Charles Ferguson's "Inside Job" (Jaime)

If you have not seen this movie, you must do so. Then share it. Every American should be aware of what is transpiring at the highest levels of our establishment. Of course, this goes beyond America's borders; everyone should be aware of the injustice, criminality, and corruption that sways policy and creates a needlessly precarious financial world for us all.

The Carter Doctrine: Is It Working? (Crash_Watcher)

Well, if the Carter Doctrine remains vitally important, and was successful, then I would have expected to see at least a continuation of the same flow rates of oils to the USA, Europe and Japan, if not increases, relative to the flow rates of oils to other regions of the world.

However, I find little support for this notion, based on my analysis (based on data reported in the BP review and starting at Part 1) of the trade flows of petroleum between different regions of the world.

In reality, the flows of oil to North America, Europe, and Japan from the Middle East have gone down over the last decade, and, the trend is for the proportions of oil to these regions to further decline, in favor of increased flows of oil to China and other Asia Pacific countries, other than Japan.

A Fancy Financial Adviser Title Does Not Ensure High Standards (jdargis)

Most investors don’t realize that when they walk into a bank or brokerage firm branch, the representatives there are essentially free to emblazon their business cards with whatever titles they please — financial consultants, advisers, wealth managers, to name a few. But if you’re looking for someone who is qualified to give smart advice about all aspects of your financial life while keeping costs down, you may not be in the right place.

78 Dead in Southern Russia Floods (jdargis)

The Interior Ministry gave the death toll as 103 on Saturday evening, according to Russian news agencies; a regional ministry spokesman said earlier that at least 67 of the deaths were around Krimsk, about 1,200 kilometers (750 miles) south of Moscow. Five people were electrocuted in the Black Sea coastal city of Gelendzhik after a transformer fell into the water, state news agency RIA Novosti said.

Anna Kovalevskaya, whose parents live in the flooded area, described water inundating their home up to the roof.

Uprooting GM Crops with Creole Seeds (gallantfarms)

Through participatory research, the experiment utilized a small area of farmland to evaluate which local seeds performed best for the type of soil and climate of his local community. Seu Lazaro and other farmers in his group were impressed by what they saw, particularly when they, collectively, harvested the area and weighed how much each variety yielded.

Seu Lazaro says that the GM seed vendors’ sweet talk doesn’t convince him anymore.

Unrelenting Heat Wave Bakes All in Its Reach (jdargis)

More than 200 record highs were broken on Friday throughout the Midwest and along the East Coast. And more records fell on Saturday. In Washington, the high was 105, which was a record for the day and 1 degree shy of the hottest temperature ever recorded there.

In St. Louis, the thermometer hit triple digits before 11 a.m., extending the city’s record streak of 100-degree days to 10 in a row.


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New ways to look at economics: Elinor Ostrom
MANY people don't realise the economics we hear from politicians, business people, economists and the media morning, noon and night is just one way of analysing how the economy works.
Almost everything we're told about what causes what is inspired by the ''neoclassical'' model. It's long been the dominant way of explaining why things happen and predicting what will happen, but it's not the only way. And it's far from infallible.
But there was one obdurate woman who, lacking an economics education, wasn't impressed by the economists' neat analysis of the problem and thought there might be another, better solution - if, indeed, it was a problem.
She was Elinor Ostrom, professor of political science at Indiana University, who devoted much of her career to combing the world for examples where people had developed ways of regulating their use of common resources without resorting to either private property rights or government intervention.
As The Economist records, she found forests in Nepal, irrigation systems in Spain, villages in Switzerland and Japan, and fisheries in Maine and Indonesia. In all these cases, people drew up sensible rules for sharing the resource and combining to perform regular repairs. People who broke the rules were fined or eventually excluded.
''The schemes were mutual and reciprocal, and many had worked well for centuries,'' the magazine says.
For her pains, Ostrom, who died last month, was awarded the Nobel prize in economics in 2009, the first woman so honoured. Few economists had heard of her or her model-busting work.
Why had this solution to the problem never been considered by economists? Because of their model's implicit assumption that we only ever act as individuals, never collectively. We compete against each other, but we never co-operate to solve mutual problems.
And, since all the market's benefits come via competition, co-operation by producers is probably an attempt to rig the market, which should be outlawed.
The community pays a high price for allowing one model of how the economy works to dominate the advice we get and the way we think.
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Barclays Will Not Be Sued by US Dept of Justice

Carte Barclays...

Barclays will not be sued by the U.S. Dept of Justice...


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Arthur Robey
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Ye gods.

There is no such thing as Global Warming. My friend tells me that we are headed for another Ice Age. And anyway it is all a conspiracy by the Bilderbergers and the Club of Rome to depopulate the planet.

So there! How could I have been so deluded?

Oh, and another thing. The old oil wells are filling up again. It's called Abiotic Oil.

I can't wait for him to get to stage two. Rage.

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Poet wrote: Carte
Poet wrote:

Carte Barclays...

Barclays will not be sued by the U.S. Dept of Justice...



Just pay the highwayman and we will look the other way.

The crimes continue and the naive think we will somehow close the watertight hatches.

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