Daily Digest

Image by ahisgett, Flickr Creative Commons

Daily Digest 9/6 - In Defense Of Fact-Checking, Harnessing The Power Of Waves

Thursday, September 6, 2012, 2:29 PM

Economy

Neil Macdonald: In defence of fact-checking, as the untruths grow (westcoastjan)

It investigated the story and concluded that not only was no such event being held as part of the DNC, but Roman Catholic Cardinal Timothy Dolan was indeed leading the convention’s closing prayer, just as he led the closing prayer at the Republican convention last week in Tampa.

Visualizing
The Political Importance And Truthiness Of The Payroll Report
(safewrite)

The Non-Farm Payroll report supplies these numbers, and its monthly
findings impact global economic performance expectations - but its reporting
(as we have been vociferous about) on unemployment rates and job outlook are
skewed to paint a falsely healthy picture of the economy. The followng
info-graphic sheds more light how the 'official' unemployment figures
are much lower than they really are.


How an aging population will kill the American Dream
(westcoastjan)

The dramatic shift in demographics isn’t taking anyone by surprise. Birth rates have come down in developed countries like the U.S., while life expectancy has increased significantly over the past 50 years. The number of people over the age of 65 in the U.S. will rise to 20 per cent in 2050 from 13 per cent in 2009.

The printing press is running hot, but where is inflation and how will it affect gold? (Taki T.)

Inflation is the root cause of the devaluation of money, whereas price increases are just the result of inflation. In the years leading up to the financial crisis, we had official inflation rates between 2 and 4%. At the same time however, the US was importing an increasing number of goods from low cost producer China. This should have lead to a decrease in the price level. But due to the increase in money supply, prices kept rising. This implies that the USD has lost much more than 2 to 4% of its value in real terms per year.

Joint
statement from FAO, IFAD and WFP on international food
prices

Following is a joint
statement on international food prices from the three Rome-based UN Agencies,
the Food and Agriculture Organization of the United Nations (FAO), the
International Fund for Agricultural Development (IFAD) and the World
Food Programme.

India joins deep sea mining race (Mobius)

India looks to exploit rare earth minerals beneath its oceans, following moves towards deep sea mining in Papua New Guinea.

Japan plans to cut state spending, could run out of money in a month (ScubaRoo)

Noda's ruling Democratic Party passed the deficit-financing bill through the lower house on Tuesday. But the opposition boycotted the vote, signalling the bill has little chance of clearing the opposition-controlled upper house.

At last, Japan may be about to abandon its disastrous Keynesian consensus (ScubaRoo)

The end of the yen carry-trade, where investors would borrow in yen at very low rates and shift their money into high risk investments in foreign currencies, has been devastating. When Japan was alone in having an artificially low interest rate, it attracted speculators. These speculators forced down the price of the yen by effectively taking a short position in it against an asset. This helped Japanese exporters because the currency was far weaker than fair value.

Gina Rinehart calls for Australian wage cut (westcoastjan)

Australian mining magnate Gina Rinehart has criticised her country's economic performance and said Africans willing to work for $2 a day should be an inspiration.

Saudi Oil Well Dries Up (Alan W.)

If Citigroup is right, Saudi Arabia will cease to be an oil exporter by 2030, far sooner than previously thought.

Grow Your Own Energy

Microalgae hold great promise because some species are among the fastest growing plants alive and are therefore one of the best sources of biomass, while other species have been estimated to produce between 18,700 and 46,750 liters of oil per hectare per year, nearly a hundred times more than soybeans' 468 liters per hectare per year.

Project Aims To Harness The Power Of Waves (jdargis)

Adding to the breath-holding nature of the moment, energy experts and state officials said, is that Oregon is also in the final stages of a long-term coastal mapping and planning project that is aiming to produce, by late this year or early next, a blueprint for where wave energy could be encouraged or discouraged based on potential conflicts with fishing, crabbing and other marine uses.

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."

3 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4147
Repost of today's news

Headlines:

  1. ECB to launch 'outright monetary transaction' plan
  2. US Debt Again Nears Debt Ceiling
  3. Report: N.Y. retiree health costs put at $250 billion
  4. India Likely to Overshoot Fiscal Deficit Target
  5. Portugal admits tax hikes necessary to combat deficit
  6. City's junk bond status moves a notch lower (Stockton)
  7. S&P cuts Stockton pension obligation bonds to D
  8. Bankrupt San Bernardino Closes Libraries to Close Deficit
  9. San Jose credit under watch [San Jose Mercury News]
  10. Moody's Cuts Country Ceiling Ratings for Portugal, Ireland
  11. S&P suspends Compton, California rating
  12. S&P cuts Monrovia, Calif. credit ratings
  13. Harrisburg tax hike would be 3rd in year

==================================================================

"Germany's Bundesbank confirmed that its president, Jens Weidmann, voted against the bond-buying proposal unveiled Thursday by European Central Bank President Mario Draghi. A spokesman said Weidmann opposed the measures, which he viewed as "too close" to central-bank financing of government deficits "with a printing press." Draghi, in a news conference, said there was one dissenting vote on the program, but didn't identify who cast it. Weidmann's opposition to the plan, however, was no secret. The Bundesbank chief last month made a similar complaint to a German news magazine and warned that central-bank bond purchases could prove to be "addictive." "

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Me Good Mate Gina.

You leave me mate Gina Rhinehart alone. I live for her utterances. If we all become poorer we will all be richer!

I wonder what pearler she will come up with tomorrow?

 

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Silver Moon (shot)

Gold and silver have responded to "We will do whatever is necessary to save the Euro."  (Print money)

Live New York Silver Chart [ Kitco Inc. ]

 

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Login or Register to post comments