Daily Digest

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Daily Digest 4/30 - In Dollars They Trust, Why You Can Only Buy 5 Kinds Of Apples

Tuesday, April 30, 2013, 10:54 AM

Economy

Statistical Discrimination Against the Long-Term Unemployed (jdargis)

The real world is more complicated than that, but not all that complicated. Your time as a manager is finite and valuable. You don't want to call back every resume that comes in over the transom. You set yourself a target quantity of "good" resumes you want to identify to call. Then you start your search by assuming that every single person who's been jobless for over a year doesn't withstand scrutiny upon interviewing, and just search for good resumes among the short-term jobless. If you hit your target, then you call those people. It's only if you don't hit your target that you start looking at the resumes of the long-term unemployed.

Student Loan Bubble Cracks With Pulled Sallie Mae Bond Deal (Wendy SD)

SLM was offering a stunningly low 3.5% interest on the deal and investors snubbed it, "There are certain limits that can't, or shouldn't, be crossed if you're an investor," adding that, "we're beginning to see what the tolerances are." This is a significant shift since SLM and other issuers of debt backed by student loans sold $7.8 billion worth of securities this year through last week, up from $5.7 billion in the same period of 2012. With the portion of student borrowers who are late on their debt payments by 90 days or more climbing to 31% in 2012, from 24% in 2008; we wonder if this is the tipping point for the student debt in 2013 that was generally ignored in subprime in 2007, until it was too late.

Neil Macdonald: The 'monarchs of money' and the war on savers (westcoastjan)

At the end of 2012, the balance sheets of the world's largest central banks, those of the G20 nations and the eurozone, including Sweden and Switzerland, totalled $17.4 trillion US, according to Bank of Canada calculations from publicly available data.

Zimbabwe after hyperinflation: In dollars they trust (westcoastjan)

This lopsided economy is a legacy of the collapse of Zimbabwe’s currency. Inflation reached an absurd 231,000,000% in the summer of 2008. Output measured in dollars had halved in barely a decade. A hundred-trillion-dollar note was made ready for circulation, but no sane tradesman would accept local banknotes. A ban on foreign-currency trading was lifted in January 2009. By then the American dollar had become Zimbabwe’s main currency, a position it still holds today.

Presenting The Bank With The Biggest Derivative Exposure In The World (Wendy SD)

While the vast majority of readers may be left with the impression that JPMorgan's mindboggling $69.5 trillion in gross notional derivative exposure as of Q4 2012 may be the largest in the world, they would be surprised to learn that that is not the case. In fact, the bank with the single largest derivative exposure is not located in the US at all, but in the heart of Europe.

Jonathan Kay: China’s ruthless foreign policy is changing the world in dangerous ways (westcoastjan)

Analyzing Beijing’s foreign policy is a relatively simple exercise. That’s because, unlike the United States and other Western nations, China doesn’t even pretend to operate on any other principle except naked self-interest.

The Sunny T'Sou-ke First Nation Loves Solar Power (westcoastjan)

"Our vision is to get back to where our people were dependent on the elements that the creator gave us, and that is the wind, the sun and the tides. We were able to use those energies in the past with a light footprint and I think it's good for us to go full circle and come back to that because I think if anything we all need to do that," says Planes.

Serious Breaches at BP’s Norwegian Platform Cause Risk of Huge Explosion (James S.)

BP spokesman Jan Erik Geirmo confirmed that the PSA’s review of the facility “closely matches our own inquiry when it comes to the fundamental cause of the incident. We take note of the orders and discrepancies that the authority points out, and the work to comply has already begun.”

Why Your Supermarket Only Sells Five Kinds Of Apples (jdargis)

In the mid-1800s, there were thousands of unique varieties of apples in the United States, some of the most astounding diversity ever developed in a food crop. Then industrial agriculture crushed that world. The apple industry settled on a handful of varieties to promote worldwide, and the rest were forgotten. They became commercially extinct—but not quite biologically extinct.

Gold & Silver

Click to read the Gold & Silver Digest: 4/29/13

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3 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4145
robie robinson's picture
robie robinson
Status: Diamond Member (Offline)
Joined: Aug 25 2009
Posts: 1179
An easy read from

great folk, however, it conflicts with the "animal based protein is bad" or "All critters went thru CAFO's" there for omnivores are... well decide for yourself.

Is this the appropriate thread?

 

http://www.resilience.org/stories/2013-04-30/2-solutions

 

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Enjoying the Hologram.

OK, so I got hooked into reading the piece about the Zimbabwe experience. (Thanks Jan)

As a Rhodesian the urge to say "We told you so" is weak from overuse. So they now hitch their wagon to the $US. Is their no end to their poor choices?

And by the way, the money that is coming home to enjoy short term high interest rates in Zimbabwe's banks is your money. You gave it to them as aid. They stole it and parked it in European banks. How does that make you feel, sucker?

As a refuge from the anguish that I feel over Africa's lost potential I embrace the sophistic philosophy that it is all a hologram anyway. My role is to perceive, not to conceive.

Enjoy the ride..

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