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Daily Digest 3/5 - ‘Massive Layoffs’ Predicted In Law Schools, The Wealth Beneath

Tuesday, March 5, 2013, 11:20 AM

Economy

‘Massive layoffs’ predicted in law schools due to big drop in applicants (Thomas C.)

Indiana University law professor William Henderson said the changes could occur as early as this fall. “In the ’80s and ’90s, a liberal arts graduate who didn’t know what to do went to law school,” Henderson told the Times. “Now you get $120,000 in debt and a default plan of last resort whose value is just too speculative. Students are voting with their feet. There are going to be massive layoffs in law schools this fall. We won’t have the bodies we need to meet the payroll.”

BOJ nominee Kuroda sets out aggressive policy ideas (westcoastjan)

“It would be natural for the BOJ to buy longer-dated government bonds in huge amounts,” Kuroda said in a confirmation hearing in the lower house of parliament. “But the central bank also needs to scrutinise market developments at the time, as well as the potential drawbacks.”

BMO Lowers Mortgage Rate To Record Low; Flaherty Warns Against Lending War (westcoastjan)

Flaherty has warned against excessively low mortgage rates before, while the Bank of Canada has noted that household debt, which is largely driven by mortgages and has hit a record high in Canada, is the largest risk to Canada's economy.

Info boss says B.C. isn't writing down key decisions to avoid public scrutiny, FOI requests (westcoastjan)

In particular, Denham pointed to several complaints from journalists when requests for information on the resignation last September of Clark's chief of staff, Ken Boessenkool, failed to turn up a single document.

Boessenkool resigned with a letter of apology after a two-week investigation into an alleged "incident of concern," and at the time Clark insisted privacy laws prevented her from disclosing details about what happened.

Calvin McCraw, Homeless Oklahoma Man, Lets People Vent To Him For 50 Cents A Minute (westcoastjan)

Calvin McCraw, a homeless Oklahoma man, invites passersby to vent about their problems for the small fee of 50 cents per minute, KFOR reports. He holds a sign that reads: “ANGRY?! FRUSTRATED? SCREAM-AT-A-BUM 50 cents/MIN.”

Four Things To Know About The Next Big Budget Battle (jdargis)

The continuing resolution, or CR for short, is legislation that basically allows Congress to just carry over the previous fiscal year's budget into the next one. In other words, it permits Congress to maintain roughly the same budget priorities and budget levels over the subsequent year. A CR can last for any length of time, whatever Congress wants — a few weeks, six months, a year, anything.

Energy

Zambia, Zimbabwe and Botswana: The wealth beneath (jdargis)

The Chinese have rushed to Zambia before. During an earlier commodities boom in the early 1970s Mao Zedong financed a railway line from Tanzania. But the gains petered out, mismanaged by officials on both sides of the border. This time may be different. No African resource boom in the past has ever coincided with democratisation. In the 1970s socialists and autocrats held sway. When elections became more widespread in the 1990s, commodity prices were depressed and there was no money to invest. Now for once everything is coming together. Democracy in Zambia and elsewhere is flourishing, prices are high and economic management is improving.

China Overtakes the US to become the World’s Largest Oil Importer (James S.)

According to EIA numbers, U.S. oil production is at its highest level in 20 years, with a 40% increase since 2008. At the same time the nation’s oil demand is at a 17-year low and the agency projects the country could even leap frog Saudi Arabia and Russia to become the world's largest oil producer by 2020.

Shell to build LNG plants in Ontario and Louisiana (westcoastjan)

Shell plans to build the liquefaction unit at its Sarnia Manufacturing Centre for the Great Lakes corridor. This project will supply LNG fuel to all five Great Lakes, their bordering U.S. states and Canadian provinces and the St. Lawrence Seaway.

Each unit will be able to produce 250,000 tons of LNG, Shell said.

Toyota's i-Road to debut at the Geneva Motor Show (Arthur Robey)

The design is an eyeful, in i-Road's higher-end resemblance to a golf cart or scooter. The scooter-sized i-Road would be providing the same attractive advantage of parking ease, yet with a fashionable enclosed cabin. As for measurements, the i-Road is 2,350mm long, 1,445mm high, with a 1,700mm wheelbase. The car-like features of the i-Road include interior lighting and heating.

Environment

Taiwan tests recycling's limits with bus stops out of bottles (westcoastjan)

E-waste recycling is important, he says, because if you dump your computer in your back yard, its components will leach and poison the environment and people living nearby.

And that is especially important here in Taiwan.

Gold & Silver

Click to read the Gold & Silver Digest: 3/4/13

Provided daily by the Peak Prosperity Gold & Silver Group

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."

7 Comments

saxplayer00o1's picture
saxplayer00o1
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Poet's picture
Poet
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Joined: Jan 21 2009
Posts: 1891
A Tip Of The Hat

Hat tip to Saxplayer00o1 for his hard work every day. And also a special tip of the hat to WestCoastJan.

Poet

rjs's picture
rjs
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Joined: Aug 8 2009
Posts: 445
Quercus bicolor's picture
Quercus bicolor
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Joined: Mar 19 2008
Posts: 456
A few things to consider.

How awesome!  We get to ignore the lower energy content and lesser utility of the significant fraction of natural gas liquids in that total - and - we get to count both the oil used to grow the corn and the ethanol we produce from the corn - and - we get to ignore the lower energy content of ethanol!  Who needs reality?

cmartenson's picture
cmartenson
Status: Diamond Member (Offline)
Joined: Jun 7 2007
Posts: 5570
rjs wrote: US was world’s

No, not unless you count corn based ethanol the same as crude oil.  And ethane.  And propane. And butane.  And pentane.  And refinery gains.  Unfortunately, they are not the same thing at all.

It is on a BOE basis that US has surpassed saudi arabia, but that is not the same as crude production and it really, really bends the word "petroleum" to include all of those other items.

 

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4065
Thanks Poet and Tycer

.....

thc0655's picture
thc0655
Status: Diamond Member (Offline)
Joined: Apr 27 2010
Posts: 1513
MSM columnist shaky on Dow record

Interesting to read a MSM financial columnist expressing doubt about how great the Dow "record high" is.  He must not have gotten the memo to hype it, singing "Happy days are here again!"  I don't remember, but I seriously doubt there was much MSM doubt expressed back in 2007 when the Dow was at this nominal high.

http://www.philly.com/philly/business/columnists/20130306_PhillyInc__Dow...

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