Daily Digest

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Daily Digest 4/12 - Ten Diminishing Energy Trends, America's Health (Dis)advantage

Friday, April 12, 2013, 10:16 AM


A Tipping Point In The Financial System – Part 2 (GE Christenson)

“All of the recent reports of countries moving away from the dollar to settle their international payments have most likely caused a great many countries to look at getting out of dollars. We not only have the BRICs moving away from the use of the dollar, but also China, Japan, and all of the East Asians.

“Recently we have even seen reports out of Australia that they are going to deal directly with China in their own currency. So this drop in demand for dollars when the Fed is creating one trillion new dollars every year means the exchange value of the US dollar is untenable.”

British shops ration baby milk as Chinese demand surges (Nervous Nelly)

The rise of the middle-class Chinese working mother has greatly increased sales of baby milk in the world's most populous country. Fast-growing markets like China support a global baby food market worth an estimated $30 billion a year.

Obama’s Budget Is a Ridiculous Charade: Doug Casey (Dana T.)

In an interview with The Daily Ticker, Casey explains his provocative oratory style. “Look, this is an academic point that I’m making. I know that [the U.S. debt] is not going to be defaulted on tomorrow morning," he says. "I’m just putting the thought out there so people can think about these things in a new unit of time, and try to think about it rationally.”

Jobs report, David Stockman, U.S. economy, gold (Phil H.)

Spending more more and more money is not the answer.

No Direction Home (Ilene)

As discussed in Whether Stocks are Cheap is Besides the Point, the stock market is not "low" according to metrics commonly used to determine whether the market is underpriced or overpriced - such as P/Es. However, the context in which valuations are measured has changed dramatically since the 2008 meltdown and subsequent succession of quantitative easings, courtesy of the Federal Reserve. The Fed and other Central Banks are creating a tsunami of liquidity in a race to devalue their own currencies. This is not a minor detail; it's a game-changer in the pricing of assets.

America's Health (Dis)advantage (Annette T.)

This infographic illustrates many of the key findings from a recent Institute of Medicine report on U.S. health
and spending compared to that of other leading nations.

The United States spent $2.6 trillion on health care in 2010 - more than any other country in the world. Yet based on research from a collaborative effort within the National Academy of Sciences, Americans live shorter lives and experience more injuries and illnesses than people in similar high-income countries.

Carmen Reinhart: "No Doubt. Our Pensions Are Screwed." (Wendy SD)

After World War II, all countries that had a big debt overhang relied on financial repression to avoid an explicit default. After the war, governments imposed interest rate ceilings for government bonds; but, nowadays, she explains, "monetary policy is doing the job. And with high unemployment and low inflation that doesn't even look suspicious. Only when inflation picks up, which is ultimately going to happen, will it become obvious that central banks have become subservient to governments."

Australia’s Woodside shelves US$45B Browse LNG project (westcoastjan)

Browse LNG was to be Woodside’s biggest LNG development yet, but has been plagued by controversy over its proposed location at James Price Point on the northwest coast, coming under fire from environmentalists and some indigenous landowners.

The site is also home to the world’s largest dinosaur footprints and sacred Aboriginal sites known as “songlines”.


For the Price of the Iraq War, The U.S. Could Have a 100% Renewable Power System (goldrunner1)

Because the war was financed with debt, we should also include a charge for interest on the debt. The Iraq war’s share of cumulative interest on the US debt through 2053 will raise the total cost of the war to $3.9 trillion.

To weigh what opportunities we lost, we’ll consider two conditions: the direct cost, and the direct cost plus interest.

10 Diminishing Trends in the World of Energy (James S.)

This is usually the time of year where I am preoccupied by fears of relegation for my beloved soccer team, West Ham. However, with seven games to go, they appear to be almost certainly safe from ‘the drop’. Which is refreshing. It is therefore ironic that I see nothing but relegation and demotion in the data and dynamics of energyland™ instead.

Gold & Silver

Click to read the Gold & Silver Digest: 1/18/13

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."


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World Wrestling Federation Smackdown...

...of PMs in progress.  www.kitco.com

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Illuminati DO exist

Even the NYTimes acknowledges this.

Excerpt of an article from 2012 about PIMCO's El-Erian.  

On many mornings, you can spot Mr. El-Erian, who is also Pimco’s chief executive, on CNBC, BBC or Bloomberg, or somewhere in the financial pages, expounding on the financial crisis of the day. He cultivates financial reporters and presses Pimco’s message with flair on the conference circuit, occasionally flanked by financial illuminati like Christine Lagarde, the managing director of theInternational Monetary Fund, as if he were an I.M.F. supremo himself rather than a fabulously wealthy money manager.

Just sayin.


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U.S. Fed balance sheet grows again in latest week

"The Fed's balance sheet liabilities, a broad gauge of its lending to the financial system, stood at $3.210 trillion on April 10, compared with $3.198 trillion on April 3.

The Fed's holdings of Treasuries totaled $1.814 trillion as of Wednesday, up from $1.806 trillion the previous week"


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Tepco Faces Decision to Dump Radioactive Water in Pacific

Tepco Faces Decision to Dump Radioactive Water in Pacific

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