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Daily Digest 5/7 - Why Gas Prices Will Soar, Canadian Banks: Safe As Houses?

Tuesday, May 7, 2013, 11:15 AM

Economy

The Incredible Weight of Quantitative Easing (GE Christenson)

Assume a gallon of gasoline is $4 at the pump. Assume a tanker truck on the highway can move 10,000 gallons of gasoline. At that rate, it would take about 25,000,000 tanker trucks filled with gasoline to equal $1 trillion in gasoline. If those trucks were lined up on the highway allowing for 200 feet in truck length plus safety distance between trucks, the line of trucks would extend 940,000 miles or back and forth across the country over 300 times.

The great global food gap (richcabot)

A study of what 30 families living around the world eat in one week shows the huge gulf between the diets of different nations.

Crisps, biscuits and chocolate treats dominate the shopping basket of the Baintons from Britain who spend an average of £155 every week to feed their family of four.

Euro founder calls for ‘catastrophic’ currency to be broken up (westcoastjan)

“The economic situation is worsening from month to month and unemployment has reached a level that puts democratic structures ever more in doubt,” he said.

Less Is More: Rogue Economists Champion Prosperity Without Growth (Living Resource Positive)

Paech attacks what he calls our "autistic faith in progress." He is not interested in criticizing a few greedy executives for destroying a supposedly good system. For Paech, the system itself is broken, and instead of repairing it, he wants to rebuild it from the ground up. He no longer believes in reconciliation between the environment and the economy, and in the notion that a level of prosperity achieved through credit can simply be continued through green growth. And unlike many members of the environmentalist Green Party, Paech adds, he is "extremely conservative."

John Embry: Chief Investment Strategist for Sprott Gold & Precious Minerals Fund (Pinecarr)

John Embry spoke with King World News about the recent action in gold and silver and what the central planners are doing right now in an attempt to prevent a total collapse of the financial system.

Canadian Banks: Safe As Houses? (westcoastjan)

Mark Carney, the outgoing governor of the Bank of Canada, has warned there is “growing distrust” of the banking system in the wake of the 2008 financial crisis and revelations about the behavior of some of the players that took huge risks and were rescued with taxpayer money. The Canadian banks didn’t need bailouts and Carney was talking about the global industry, but his criticisms apply here as well.

Why Natural Gas Prices will Soar in the Future (James S.)

They believed that high production decline rates in shale gas wells--which now provide about 40 percent of U.S. production--were combining with rapid reductions in the drilling of new wells in a way that would eventually cause falling production and sharply rising prices. They weren't exactly clear on the timing. But, with their patient strategy, they just needed to sit and wait for what they felt was the inevitable.

Gold & Silver

Click to read the Gold & Silver Digest: 5/6/13

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."

3 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
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dps's picture
dps
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Joined: Jun 27 2008
Posts: 442
EPA's Final Decision on the New Active Ingredient Sulfoxaflor

Your tax dollars at work screwing you again.  This is the new neonicotinoid ... next generation ... again being rushed to market.

 

Pesticide News Story: The EPA’s Final Decision on the New Active Ingredient Sulfoxaflor

For Release: May 6, 2013

The EPA has granted unconditional registrations for the new active ingredient sulfoxaflor, formulated as a manufacturing use product and two end-use products for use in production agriculture. The EPA is granting the use of sulfoxaflor on barley, bulb vegetables, canola, citrus, cotton, cucurbit vegetables, fruiting vegetables, leafy vegetables, low-growing berries, okra, ornamentals (herbaceous and woody), pistachio, pome fruits, root and tuber vegetables, small vine climbing fruit (except fuzzy kiwifruit), soybean, stone fruit, succulent, edible podded and dry beans, tree nuts, triticale, turfgrass, watercress and wheat.

Occupational worker and food safety data confirm these uses are safe when sulfoxaflor is used in accordance with the labeling terms and restrictions. Also, the ecological effects profile for sulfoxaflor supports the registration finding. One area of focus in the review involved pollinator health, and the final label includes robust terms for protecting pollinators. The EPA performed its data evaluation and assessments in collaboration with its counterpart agencies in Canada and Australia. Scientists from the three authorities reviewed over 400 studies and peer reviewed each other’s work.

The registration will provide growers with a new pest management tool for use on piercing/sucking insects. Sulfoxaflor has been used under an emergency clearance on cotton in Arkansas, Mississippi, Tennessee and Louisiana to control the tarnished plant bug, an insect that has developed resistance to alternative registered pesticides. Sulfoxaflor belongs to its own new insecticide subclass in terms of its mode of action, so it is expected to be used by producers faced with pests that have developed resistance to other alternatives.

For additional information please refer to the docket EPA-HQ-OPP-2010-0889 at the Federal e-Rulemaking Portal: http://www.regulations.gov.

-- 
Nichelle Harriott
Staff Scientist
Beyond Pesticides
Tele: 202-543-5450
Fax: 202-543-4791
davefairtex's picture
davefairtex
Status: Diamond Member (Offline)
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Posts: 5692
eurozone: bail-ins, depositor preference

Awesome article on rationalizing the Cyprus template.

Proposals:

* depositor preference; depositors get hit only after bondholders take losses.  (This assumes there are enough bondholders to make a difference; there weren't in Cyprus, and there aren't in Slovenia.  Spain, on the other hand, has a lot of bank-issued bonds, so your mileage may vary)

* explicit exclusion of "insured deposits" (100k euros) from being bailed-in.  (your local rules may vary)

Target date for final agreement: end of June.

Perhaps we'll see (coincidentally) a Slovenia two-week banking crisis sometime in July to test-drive this new agreement.  Draghi calls his pals in Slovenia, and informs them they have one week to come up with a plan, else ECB funding is cut off.  Allegedly it won't take force until 2015, but I think that's just cosmetics.  It will be "unofficially applied" by the ECB as a requirement for "bailout" money.

Are all those depositors just hoping "it won't happen here" or what?

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