Daily Digest 11/30 - Alaskans Sitting On Millions Of Oil Barrels, The High Cost Of Our Throwaway Culture
Spain eurozone crisis: Where jobs are a lottery (westcoastjan)
The mayor, Juan Lorenzo Pinera, seems to know most of the people he passes in the town square. Many of them shout greetings or stop to ask him a question. Since Spain's housing bubble burst, the thing most people want to know is whether he has any work going.
"The situation is very difficult," he says.
The High Cost Of Our Throwaway Culture (westcoastjan)
But then there are those items that seemingly can’t be repaired. My camera shutter, battered by the dust and grime of travel, no longer works. I'm told I should throw away my camera, even though it works fine, apart from the shutter mechanism. Like the majority of consumer electronics, my camera has not been designed to be easily reparable. Thirty years ago, I could have found service manuals and spare parts for all camera models, as well as a thriving repair industry. But things have changed. Camera models have got far more numerous and complicated, and manufacturers no longer release repair manuals.
There are further differences as well between Germany and the Anglo-Saxon world. These differences are seen most clearly when we compare the American and British approach to transparency and regulation of financial markets to that of continental Europe. In continental Europe, greater transparency and regulation has been high on the agenda, while Wall St. and the city have led the Americans and British to resist further moves. When we tried to get this on the international agenda at the G-8, we were blocked by the U.S. and the UK.. The G-20 agreed to more transparency and regulation, but implementation has been a failure ever since.
Black is white, and white is black in the gold market. First, we were going into the election, and it was one coincidence after another. Gold gets bombed ahead of the election, the stock market goes up just when people were making up their minds about the economy. The unemployment number miraculously comes down the month before the election. As soon as the election is over, everything falls apart again. There is almost nothing these days that isn’t manipulated or rigged.
As we head into the end of the year, gold, silver and platinum look like they may be on the verge of a major breakout at $1800 gold, $1725 platinum and $35 silver with silver outperforming. This outperformance by silver and platinum may be signaling a risk on rally which may be precipitated by a fiscal cliff resolution or further accommodative moves by the Federal Reserve to replace Operation Twist with QE4.
While markets are still clearly addicted to ease and economic think tanks like the OECD are also calling on central banks to be ready to do more, Smith has a different take. "When the Fed has to keep cranking money into the system, it's a sign that people are averse to risk," he says. "It's a sign of dysfunction."
Gundlach, who correctly predicted the subprime mortgage disaster, has a proven record as a prognosticator -- and the performance numbers to go with it. At his former firm, TCW Group Inc., his Total Return Bond Fund earned an annual average of 7.9 percent in the decade ended in November 2009, according to data compiled by Bloomberg.
Poised for their worst winter since the eruption of the crisis three years ago, Greeks who once thought nothing of heating their homes now hesitate. After relentless waves of austerity and tax rises that have seen their purchasing power drop by up to 50%, even doctors and lawyers are feeling the pinch, with many saying they cannot afford the 40% surcharge the government has slapped on heating oil.
Ukraine Crushed in $1.1bn Fake Gas Deal (James S.)
Kiev was necessarily taken aback, and Bonvehi remained conveniently silent at the signing ceremony once the news broke out.
Of course, what no one knows is how Ukrainian authorities were led to believe—during multiple rounds of negotiations—that Bonvehi was a Fenosa representative.
The Alaskans sitting on billions of barrels of oil (westcoastjan)
"We live in a cycle of life that hasn't changed for thousands of years. We know where the animals are coming. We know when they are going north, when they are going south, this is our home, our land, our identity as a people."
The Death Of Farmbrain (jdargis)
Since achieving true self-sufficiency is close to impossible, these people are often customers at farmers’ markets, farm stands, or other direct marketing outlets, where the USDA is keeping tally. Between 2011 and 2012, the number of farmers markets grew nearly 10 percent—this summer there were nearly 8,000 across the country. According to the 2007 Census of Agriculture, which is the latest to date, community-supported agriculture programs offer consumers the chance to buy shares in a season’s produce, and nearly 13,000 U.S. farms use this model to sell vegetables, meats, eggs, and bread. “Local” is such a well-loved term that even giants like Walmart and McDonald’s are trying to capitalize on its cachet.
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