Daily Digest

Image by NASA Godard Photo And Video, Flickr Creative Commons

Daily Digest 11/3 - Military To Deliver Fuel To Storm-Ravaged Region, Sandy Recovery In Pictures

Saturday, November 3, 2012, 9:52 AM

Economy

Will China fall flat on its face just like Japan? (westcoastjan)

But, of course, things didn't turn out that way. Instead, in 1990 Japan's stock market and property market both crashed spectacularly, leaving two decades (and counting) of economic stagnation in their wake.

The more recent giddy rise of China's dragon economy is chillingly familiar.

Greg Weston: Oilsands crippled by soaring costs, memo says (calgary_prepper)

The memo written by Mark Corey, one of the highest-ranking officials in the federal Department of Natural Resources, warns that if the current trend of spiralling labour and other costs continues, investors may start to turn off the tap on the massive amounts of money needed to develop the oilsands.

"Although current crude prices promote oilsands development, ever-increasing capital and operating costs could make this price insufficient to support oilsands development at forecast levels," Corey writes.

Will Hurricane Sandy Help Stimulate The Economy? (David B.)

Likewise, it’s found in the same line of argument that somehow World War II rescued the United States from the Great Depression because it fails to properly account for the immense destruction of wealth (admittedly, mostly outside the U.S.) the war caused.

It seems easy enough—unless you’re a Keynesian economist.

Empire of debt leading to a ‘crack-up’ in global monetary system! (Arthur Robey)

As we head into the last few days of the presidential race, we ask Bill Bonner, bestselling author and founder of Agora Financial what he thinks the biggest issues on the electoral agenda should be. We also ask about other litmus tests that might give us a better sense of where the US is headed. What does he look at, and how important is an indicator like GDP in telling us how well our economy is doing? And prices for gasoline, soda, hotel rooms, and batteries have risen sharply in areas affected by Superstorm Sandy.

Canada-China trade deal is too one-sided (westcoastjan)

“There is nothing in this deal with China [the Foreign Investment Promotion and Protection Agreement] that will protect Canadians there because they have not agreed to apply our laws there,” he said. “It’s quite unbelievable.”

Military to Deliver Fuel to Storm-Ravaged Region (jdargis)

Because electricity will not be restored in parts of central New Jersey for seven to 10 days, gasoline shortages may remain severe in some areas. As of Friday, according to AAA, only 40 to 50 percent of the gas stations in New York City and New Jersey were operating, and even fewer were operating on Long Island. Most of the stations were out of service because of power failures.

As Power Is Restored for Some, Others Face Grim Outlook (jdargis)

In other boroughs and in the suburbs, the prognosis for full restoration was grimmer. Con Ed said it could take until mid-November to bring electricity back to all of its customers, particularly those whose connections were ripped down by trees or branches in Westchester County; about 120,000 customers there had no power.

Hurricane Sandy: Recovery (jdargis)

Homes are surrounded by sand that washed into neighborhoods with Hurricane Sandy, Oct. 31, 2012, Seaside Heights, New Jersey. The death toll continues to rise in the U.S. with New Jersey suffering massive damage and power outages.

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."

1 Comment

Tall's picture
Tall
Status: Platinum Member (Offline)
Joined: Feb 18 2010
Posts: 564
How likely are future scenarios?

Opinions from a survey of physicists

http://physics.ucsd.edu/do-the-math/2012/10/futuristic-physicists/

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