Daily Digest

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Daily Digest 8/30 - Eleven Stages Of The Crash, Why We're Headed Towards Groundwater Bankruptcy

Thursday, August 30, 2012, 6:27 AM

Economy

The Rot Runs Deep 2: Don't Call Out My Scam and I Won't Call Out Yours (Thomas C.)

America can now be summarized by this phrase: "don't call out my scam and I won't call out yours." In other words, all the skimmers and scammers have become complicit, not just in protecting their own scam from the light of day, but in protecting everyone else's scams, too, lest those who lose their swag unmask someone else's scam in revenge.

Wild Silver Returns? Gold Zooms Higher on Inflation or Deflation (art)

Are you ready for the largest transfer of wealth in the history of the world?

Chris Martenson on Shadow Bankruns and how Central Banks are Missing the Boat! (Arthur Robey)

We may not know when and exactly how a crisis could strike, but do we already have enough information to know a bit more about how destructive it could be? Chris Martenson, author of the Crash Course will be here to tell us. He is also speaking at Kripalu, in the Berkshires of western Massachusetts this weekend for those ambitious enough to attend his lectures, we’ll tell you how you can register later in the show. And on today’s Loose Change, we cover, amongst other topics, Steve Keen’s recent appearance on a Spanish video that has gone absolutely viral. Looks like neoclassical economists are running out of casas to hide in!

The U.S. Economy And The Future Of Growth: Now This Is Depressing (LogansRun)

Each advance built upon the innovations of the previous ones, along the way boosting productivity and revving the American economy, which in turn made American consumers richer and more able to buy stuff.

Well, guess what? Gordon writes that future growth in consumption per capita — the main engine of the consumer-based US economy — could fall below 0.5 percent a year for what he calls "an extended period of decades."

High-Frequency Traders Flat-Out Buying Data Ahead of You (westcoastjan)

Whereas the government is actively trying to curtail the ability of high-frequency firms to trade on its data first—the Labor Department, for example, is poised to change the protocol for market-sensitive economic indicators released during its “lockup” with media organizations—ISM and other private data providers are embracing the algorithmic news feeds. The rationale: there is simply no way to cut out rapid traders altogether.

Then there’s somewhat thorny issue of financial benefits.

Eric Sprott: We Are Staring At Chaos & Collapse In Front Of Us (westcoastjan)

“How does China come in and buy 500 tons? How did all of this happen with no increase in the supply of gold? It’s getting more extreme by the day. If I take today’s numbers, I think there’s probably a 2,500 ton shortfall of physical gold. I must conclude that the G6 central banks are continuing to lease their gold into the market.

After the Storm - The 11 Stages of the Crash (Thomas C.)

Economic wizard (and favourite 'Uncle') Harry Schultz stated back in the early 2000's that what he anticipated was "ten years down and ten years up." At the time, many thought that his projection was extremely prolonged. I didn't think so. People do commonly seem to take the view that, once the various crashes have taken place, we simply walk out into the sun, brush the dirt off the knees of our trousers, and, with a spring in our step, walk into the bright new day.

Will Expert David Morgan Call the Bottom on the Metals Market Again? (Taki T.)

I use my own indicators that come from a lot of experience. A couple of other things also keyed me. One was that the sentiment was so bad that it was screaming we are “at the bottom.” Another was that there were a few days where the volume was very, very high and there was no real buying pressure. It was short covering. Short covering at a bottom is a good indicator that the smart money or the professional money is moving out of the market. In other words, they shorted for a very long time. They made their money, they’re getting out and are covering their positions.

“My outlook is bullish on the metals both short and long term.”

Chinese Blame Failing Bridges On Corruption (cmurray)

Since 2011, eight bridges have collapsed around the country, according to China's state-run media. The cases include one in April 2011, when a cable snapped on a suspension bridge in Western China's Xinjiang region, sending a chunk of roadway plunging onto a riverbank.

Two months later, a bridge in southern China's Fujian province collapsed, leaving one dead and 22 injured.

Energy

GM Temporarily Halts Volt Production over Low Sales (James S.)

“In the past couple of months, the production of the Volt was running ahead of sales, but I thought that might be for this particular process because they’re bringing in the new vehicle, so they were intentionally trying to get ahead,” Alan Baum, principal of Baum & Associates, told Bloomberg.

Environment

Why our groundwater aquifers are heading towards bankruptcy (Alan W.)

The good news is that our ability to detect groundwater trends has increased remarkably in recent years. The bad news coming in from satellite observations and computer models is that the levels of many of the world's most important aquifers are dropping precipitously. Recently, studies have shown that 20% of irrigated agriculture, which produces 40% of our food, is reliant upon aquifers with falling water levels. We are increasingly living on borrowed water, with no repayment plan.

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."

5 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4066
LogansRun's picture
LogansRun
Status: Diamond Member (Offline)
Joined: Mar 18 2009
Posts: 1443
The actual paper that the DD article....

that I submitted is based upon.

Is U.S. Economic Growth Over?  Faltering Innovation Confronts the Six Headwinds

Unfortunately, you have to buy the paper, but it's a good read.  You may be able to find it online somewhere as well, just haven't spent the time myself.

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4066
-World food prices jumped 10 percent in July-World Bank

"World food prices jumped 10 percent in July as drought parched crop lands in the United States and Eastern Europe, the World Bank said in a statement urging governments to shore up programs that protect their most vulnerable populations."

 

Drought-stricken farmers forced to sell off cattle 

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
This is just so sweet.

This is just so sweet. Rossi produces a stable 1200C.

But not for you, you poor Doomer. This is for after the Main Course.

What is on the menue? Why you!

Source

Dogs_In_A_Pile's picture
Dogs_In_A_Pile
Status: Martenson Brigade Member (Offline)
Joined: Jan 4 2009
Posts: 2606
LogansRun wrote: that I
LogansRun wrote:

that I submitted is based upon.

Is U.S. Economic Growth Over?  Faltering Innovation Confronts the Six Headwinds

Unfortunately, you have to buy the paper, but it's a good read.  You may be able to find it online somewhere as well, just haven't spent the time myself.

Good to see you back....

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