Daily Digest

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Daily Digest 11/5 - Canada Bleeding Private Jobs, Nor'easter To Hit East Coast Wednesday

Monday, November 5, 2012, 12:13 PM

Economy

Canada Bleeding Private Jobs; Vancouver Home Sales Plunge 16.7 Percent; Crash Awaits (Mike K.)

In an indication of how that market’s performing, sales were 28.5 per cent below a 10-year October sales average of 2,700, the Real Estate Board of Greater Vancouver said today, while the composite benchmark price for residential properties is down 3.4 per cent from its peak of $625,100 in May.

Brilliant Gas Station In New Jersey Now Using Gasoline Powered Pump To Pump Gasoline (westcoastjan)

This morning in New Jersey we saw mile long gas lines and people we spoke to were thinking very seriously before driving anywhere.

Many were using gas cans to get smaller amounts for generators and also cars in order to avoid the huge lines. Governor Christie has signed an executive order declaring a state of emergency and gas rations in 12 New Jersey counties.

Apple paid only 2% corporation tax outside US (westcoastjan)

Apple's figures for foreign tax appear on page 61 of its form 10-K filing with the US Securities and Exchange Commission (SEC). The form is used to summarise the performance of public companies.

It had paid a rate of 2.5% the previous year.

Did Hurricane Sandy Cause $3.65 Billion In Damage? (Arthur Robey)

A number of things here: it's easy not to realize that if 3.6 million securities are valued at $36.5 trillion, each of these pieces of paper is on average worth over $10 million. Not exactly your average pieces of paper. Also, in what way or fashion DTCC serves as a clearing house for OTC derivatives is an interesting little riddle, but not one we can expect to get an answer to. Still, something has to drive up that average value, and stocks or bonds are not prime candidates for that role.

Queens residents arm themselves in the post-storm blackout from looters (Thomas C.)

Thugs have been masquerading as Long Island Power Authority (LIPA) workers, knocking on doors in the dead of night. But locals say the real workers have been nowhere in sight, causing at least one elected official — who fears a descent into anarchy if help doesn’t arrive soon — to call for the city to investigate the utility.

Practical Bull: David Morgan Battles Precious Metals Bears Exclusive (adam)

With David entering the intellectual boxing ring, we want to know whether you thought the Precious Metal Bears or Bulls took home the intellectual boxing match. So visit our www.practicalbull.com and vote on which side won the match. Also sign up for our newsletter and get a chance to win a free copy of Get the Skinny on Silver by David Morgan.

The Secret Return To The "Gold Standard" (David B.)

Back in 2010, the world’s central banks became net buyers of gold for the first time since 1988. Buying ramped last year and net purchases exceeded 455 metric tons (tonnes). That was the largest net purchase since 1964.

But the world’s central bankers will handily eclipse the 2011 totals here in 2012: They will purchase a projected 493 metric tons this year as they expand reserves to diversify away from the U.S. dollar and protect their countries’ economies against inflation, Thomson Reuters GFMS said.

Energy

Iran's Untouchable Energy Exports (James S.)

The collective effect of the trio of legislative restrictions is to impede Iranian oil and natural gas exports, the source of the majority of its foreign currency earnings until Tehran suspends its uranium enrichment activities. Iran maintains that by signing and ratifying the NPT, its Article IV permits its current nuclear activities.

Environment

Nor'easter remains on track to hit East Coast midweek (ScubaRoo)

With overnight temperatures already sinking into the 30s and hundreds of thousands of homes and businesses still without electricity, New York City officials handed out blankets and urged people to go to temporary warming shelters set up during the day at senior citizen centers.

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2 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4147
Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Carbon Monoxide.

There are going to be deaths from carbon Monoxide.

Neighbours had better check on each other. The temptation to have the windows closed will be great.

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