Daily Digest

Daily Digest 8/20 - The Track-Star Economy, Indian Oil Discovery - Major Or Puddle?

Monday, August 20, 2012, 11:13 AM


And Now Facebook's Bankers Are Divvying Up The $100 Million They Made Shorting Facebook's Stock (James Z.)

Right now, reports Lynn Cowan of the Wall Street Journal, while Facebook investors digest the fact that the stock has now dropped to $19 from an IPO price of $38, Facebook's bankers are divvying up another $100 million they made on the Facebook stock, this time in a much less visible fashion.

How did the bankers make this second bonanza?

By shorting Facebook's stock.

George Soros Unloads All Major Financial Bank Stocks; Invests Over $130 Million In Gold (David B.)

This is an individual who not only predicted the collapse of 2008 and took action to insulate himself, he also proposed the various fixes that governments in Europe and the US would eventually implement in order to stave off a deflationary depression. In his aforementioned book he suggested that central banks infuse the system with massive amounts of monetary expansion, but also warned that not injecting enough money would simply extend the onset of deflation and printing too much could lead to hyperinflationary currency collapse.

Cautious Moves on Foreclosures Haunting Obama (jdargis)

The nation’s painfully slow pace of growth is now the primary threat to Mr. Obama’s bid for a second term, and some economists and political allies say the cautious response to the housing crisis was the administration’s most significant mistake. The bailouts of banks and automakers are now widely regarded as crucial steps in arresting the recession, while the depressed housing market remains a millstone.

The Track Star Economy (jdargis)

This is not a phenomenon confined to the Olympics. The U.S. is the world’s most popular destination for foreign students, hundreds of thousands of whom go to college and graduate school here. This is all to the good: just as the Olympics are more exciting when lots of countries have top-level competitors, the global economy is more dynamic when knowledge is more widely distributed. But there’s also a missed opportunity for the U.S.: many of these foreign students would prefer to stay and put their skills to work here after they graduate, but they can’t get work visas. What’s more, studies estimate that hundreds of thousands of highly skilled immigrants already working here find themselves stuck in immigration limbo for years, waiting for visa and green-card applications to be approved. These are well-educated, motivated workers who want to play for our side. Yet we’re making it difficult for them to do so.

In Affordable Housing Program, City Oversight of Builders Is Found Wanting (jdargis)

“We love our home,” Ms. Estrella said of the house, which is on Pulaski Street. “The architecture is wonderful; it’s well thought out. But we got the worst craftsmanship. We trusted the city. We feel like we were bamboozled.”

Ms. Estrella and other owners of city-subsidized housing insist that oversight is critically needed for one of Mayor Michael R. Bloomberg’s main initiatives, the largest municipal housing program in the country.

New Indian Oil Find - Major Discovery, or Puddle? (James S.)

Reality only reasserted itself in the third paragraph, where the journal informed its readers, “D1, which is currently producing 12,500 barrels per day (bpd), had an approved peak output of 36,000 bpd. With the new discovery, the peak output would jump to 60,000 bpd or three million tons a year.”

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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CDC: Only One Drug Left to Treat Gonorrhea

I think a lack of energy complexity to support a panoply of health-related services, including research and cutting-edge or even just complex techniques, should make everyone more cautious about indulging in casual matters.

CDC Says That There’s Only One Drug Left to Treat Gonorrhea (August 14, 2012)
"Six months after a warning was published in the medical journal The New England Journal of Medicine that gonorrhea was quickly becoming untreatable by the last two effective drugs, the CDC reports that one of those drugs no longer works. That just leaves one antibiotic to treat the disease..."

Especially, warn young adults.


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