Daily Digest 1/8 - Inflation Since The American Revolution, Australia Turns Deep Purple
We suffer from a lack of financial education in our society, in general. Intelligent friends often tell me they don’t understand what’s happening in finance. They ask questions such as “What does it mean that the banks are ‘too big to fail’?” They’ve been trained or trained themselves to believe that it’s too complicated and unknowable – even though they are highly intelligent people. The dialogue in the news and on TV is terrible; the portrayal of the financial system by the media is misleading and inaccurate, and people have many misconceived notions. After going through the near-death experience of the financial system in 2008, it’s amazing to me that people don’t understand the basics of our system.
Eurozone unemployment reaches new high (westcoastjan)
Mr Barroso said the turning point was last September's promise from the European Central Bank to buy unlimited amounts of eurozone states' debts, which has helped crisis hit countries borrow more cheaply.
But in the view of the UK's Institute of Directors, whose members rely on demand from trading partners in the eurozone, this "has bought time, but that is all it has done".
The Treasury has said that the accounting schemes, known as “extraordinary measures,” ordinarily would forestall default for about the first two months of the year, though officials were clear that they could not pinpoint a precise date because of an unusual amount of uncertainty around federal finances.
Inflation Since The American Revolution (Phil H.)
As is clear by this chart, inflation was virtually unheard of until the Creature from Jekyll Island (the Federal Reserve) took over. However, more importantly, things didn’t really start to get bad until the 1970?s right after Nixon took the nation off the gold standard in 1971. Since that time, America has seen a period of non-existent real wage growth and a huge gap grow between the rich and the poor ever since. Nothing like livin’ the debt slave dream!
Regulatory delays, disagreements between First Nations, opposition from green groups, the discovery of competing shale gas deposits, increasing construction costs — all played a role in the shelving last year of the Mackenzie Valley natural gas pipeline from Inuvik, N.W.T., to Alberta.
On the one hand, the movie does not “dig deeply,” so to speak, into the perils of fracking for the land and all living beings, but on the other hand, it may actually have succeeded in excavating even deeper territory in terms of the human psyche. Steve Butler’s assertion near the beginning of the film, “I’m not a bad guy,” verbalized in his attempt to justify himself and his company’s fracking leases is actually borne out by the end of the film in a plot twist that may leave both environmentalists and champions of so-called “progress” affronted.
The leaders in the field are Shell and Statoil, who are both racing to develop the world’s first subsea gas compression unit which will prove a major step along the path to move the entire extraction process underwater.
Inside The Meat Lab: The Future Of Food (Nervous Nelly)
The truth, though, is that artificial steak is still a way off. Pizza toppings are closer. The star of the Dutch research into in-vitro meat, Dr Mark Post, promised that the first artificial hamburger, made from 10bn lab-grown cells, would be ready for "flame-grilling by Heston Blumenthal" by the end of 2012. At the time of writing it is still on the back burner. Post (who previously produced valves for heart surgery) and other Dutch scientists are currently working over the problem of how to turn the "meat" from pieces of jelly into something acceptably structured: an old-fashioned muscle. Electric shocks may be the answer.
Backyard farmers by necessity: self-sufficient & debt-free (Nervous Nelly)
When Myrna and Earl Fincher married 53 years ago they started farming their yard "out of necessity". Today, the Finchers make a living selling their organic produce to restaurants and at the local farmers' market twice a week for much of the year. They had no experience as farmers, but learned by trial and error.
Temperatures off the charts as Australia turns deep purple (Northernlights)
The Bureau of Meteorology's interactive weather forecasting chart has added new colours – deep purple and pink – to extend its previous temperature range that had been capped at 50 degrees.
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