Daily Digest

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Daily Digest 7/29 - A Lost Generation, The Energy Cost Of Food

Monday, July 29, 2013, 11:32 AM

Economy

Budging (Just a Little) on Investing in Gold (rcmacl)

But I was also wary of imposing my gut instinct on my friend, who was looking for a more reasoned judgment. I knew that some investors saw gold as a key part of a portfolio. The author Harry Browne, the onetime Libertarian presidential candidate, recommended a permanent 25 percent allocation to gold. In 2012, the Federal Reserve reported that Richard Fisher, president of the Federal Reserve Bank of Dallas, had more than $1 million of gold in his personal portfolio.

A Lost Generation (Nate)

The jobless nature of the recovery is particularly unsettling. In June, the government's Household Survey reported that since the start of the year, the number of people with jobs increased by 753,000 – but there are jobs and then there are "jobs." No fewer than 557,000 of these positions were only part-time. The June survey reported that in June full-time jobs declined by 240,000, while part-time jobs soared 360,000 and have now reached an alltime high of 28,059,000 – three million more part-time positions than when the recession began at the end of 2007.

35 Facts To Scare A Baby Boomer (westcoastjan)

The truth is that I was being incredibly kind when I said earlier that we are "woefully unprepared" for what is coming. The biggest retirement crisis in history is rapidly approaching, and a lot of the promises that were made to the Baby Boomers are going to get broken.

Exclusive: 4 in 5 in US face near-poverty, no work (Dana T.)

While racial and ethnic minorities are more likely to live in poverty, race disparities in the poverty rate have narrowed substantially since the 1970s, census data show. Economic insecurity among whites also is more pervasive than is shown in the government's poverty data, engulfing more than 76 percent of white adults by the time they turn 60, according to a new economic gauge being published next year by the Oxford University Press.

10 ways Wall Street played you for a chump (Michael W.)

ou’re a chump if you don’t understand that Wall Street gets rich at your expense. In 1940, Fred Schwed wrote the book “Where are the Customer’s Yachts?” This investment classic captures the essence of how Wall Street transfers dollars from customers’ pockets to their own. It should be required reading for all investors.

Energy

The Energy Cost Of Food (Eric G.)

As high as this 15 Calorie figure might seem, it’s surely an underestimate. The report from which these data were drawn left out a number of sectors within the US food system that require energy as a key input to their operations, including research and development, waste disposal, water provision, and food system governance, among others. If we did a more expansive assessment of the energy use in the US food system, the total energy demand would probably be 15-20 Calories of fuel per consumed food Calorie, or more.

"Energy resources and our future" - remarks by Admiral Hyman Rickover delivered in 1957 (Chris M.)

We live in what historians may some day call the Fossil Fuel Age. Today coal, oil, and natural gas supply 93% of the world's energy; water power accounts for only 1%; and the labor of men and domestic animals the remaining 6%. This is a startling reversal of corresponding figures for 1850 - only a century ago. Then fossil fuels supplied 5% of the world's energy, and men and animals 94%. Five sixths of all the coal, oil, and gas consumed since the beginning of the Fossil Fuel Age has been burned up in the last 55 years.

Will Quebec Tragedy Derail Heavy Oil Upswing? (James S.)

PI notes that it’s not predicating this on any “wholesale expansion announcements” just as whether Keystone XL is approved or not. Oil producers have increasingly turned to rail for shipping crude to refineries with pipeline projects such as Keystone XL stalled by regulatory delays.

Gold & Silver

Click to read the Gold & Silver Digest: 7/26/13

Provided daily by the Peak Prosperity Gold & Silver Group

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