Daily Digest

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Daily Digest 4/14 - Don't Depend On Bank Deposit Insurance, The Strange Beauty Of Salt Mines

Sunday, April 14, 2013, 10:01 AM

Economy

Obama’s Budget Revives Benefits as Divisive Issue (jdargis)

Even if Democratic incumbents do not draw a primary challenger, liberal activists say, they might face a shortage of volunteers motivated enough to do the hard work of campaigning — just as Democrats did in the 2010 midterms, which resulted in big Republican gains.

Don’t Depend on Bank Deposit Insurance: Mike Shedlock (Dana T.)

“Here in the U.S. we have something like $3 trillion worth of monetary base, with $50 trillion worth of money out there that’s lent on that monetary base,” Shedlock told The Daily Ticker on the sidelines at the Wine Country Conference in Sonoma. “So how are we going to pay this all back? We can’t.”

Shedlock argues that deposit insurance - guaranteed by the FDIC for accounts up to $250,000 - can’t possibly cover all bank deposits.

Faltering Courts, Mired in Delays (jdargis)

In the Bronx in recent years, there were more people in jail waiting years for their trials than in the rest of the city combined, court data show. The borough was responsible for more than half of the cases in New York City’s criminal courts that were over two years old, and for two-thirds of the defendants waiting for their trials in jail for more than five years.

The Scary Risks of Safety Bubble Up (jdargis)

We understand the motivation -- 2008 was the single biggest financial crash in living memory. But like any such event, we feel the reaction was excessive. Things people perceive to be safe may not be as safe as they think. Any investment, if you push its price up too much, will have a lousy return.

Energy

The Strange Beauty Of Salt Mines (jdargis)

Salt, an essential element for all animal life, is abundant here on Earth, but it still requires extraction from stone deposits or salty waters. The process of mining that salt can produce beautiful landscapes, including deep, stable caverns, multicolored pools of water, and geometric carvings. Some of these locations have even become tourist destinations, serving as concert halls, museums, and health spas touting the benefits of halotherapy.

Bingham Landslide (jdargis)

Utah's Bingham Canyon Mine, one of the largest active copper mines in the world, had a massive landslide last night, which makes for quite an extraordinary coppery blur against the orderly terraced geometry of the hole itself.

Environment

Millions face starvation as world warms, say scientists (jdargis)

America's agricultural economy is set to undergo dramatic changes over the next three decades, as warmer temperatures devastate crops, according to a US government report. The draft US National Climate Assessment report predicts that a gradually warming climate and unpredictable severe weather, such as the drought that last year spread across two-thirds of the continental United States, will have serious consequences for farmers.

Gold & Silver

Click to read the Gold & Silver Digest: 4/11/13

Provided daily by the Peak Prosperity Gold & Silver Group

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