Daily Digest

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Daily Digest 9/20 - The Smell Of Collapse Is In The Air, The Era of Cheap Gasoline is Over

Friday, September 20, 2013, 9:29 AM

Economy

The Smell of Collapse is in the Air (GE Christenson)

“Money-printing cannot solve problems. It doesn’t really give us much gross domestic product growth, as we have seen. It hasn’t really helped on the employment front either, as job growth is meager (of course, it is also hampered by other government policies). What money-printing has accomplished is to push the stock market high enough to cause people to once again become delusional in their expectations.”

Obama: 'Raising the Debt Ceiling...Does Not Increase Our Debt,' Though It Has 'Over 100 Times' (Dana T.)

Now, this debt ceiling -- I just want to remind people in case you haven't been keeping up -- raising the debt ceiling, which has been done over a hundred times, does not increase our debt; it does not somehow promote profligacy. All it does is it says you got to pay the bills that you've already racked up, Congress. It's a basic function of making sure that the full faith and credit of the United States is preserved.

Dow New High, Another Stocks Bear Market Goes Up in Smoke, Forget QE Tapering Expect Expansion (Adam)

The Dow Jones stocks index closed at another all time high of 15,676, catching many if not most so called market analysts off guard as for the duration of the stock markets latest correction could be found to be singing the new secular or cyclical bear market has begun mantra, despite the fact that many of whom have been singing the same tune for the duration of the 5 year plus of the stocks bull market.

Financial Armageddon Looting Machine: Looming Mass Destruction from Derivatives (pinecarr)

According to Hervé Hannoun, Deputy General Manager of the Bank for International Settlements, investment banks as well as commercial banks may conduct much of their business in the shadow banking system (SBS), although most are not generally classed as SBS institutions themselves. At least one financial regulatory expert has said that regulated banking organizations are the largest shadow banks.

Puru Saxena: Fed Blowing Massive Bubble in Hong Kong Real Estate; $2400 Square Foot Listings (pinecarr)

Further, he states, the property bubble in Hong Kong "has everything to do with the Fed’s QE policy. I have looked at the numbers and after the Fed started QE in 2008, mortgage debt in Hong Kong has increased by over 50% in the last four years. So, in the last four years, Hong Kong people have taken on 50% more debt than they have ever in the history of Hong Kong.”

Tiny Home Assembled In Just One Day Has A Big Surprise Inside (westcoastjan)

Sometimes a home's exterior can be, well, misleading. And usually that's a bad thing, but sometimes there is an exception. That's the case with the portable home ÁPH80 designed by Spanish architecture firm Ábaton. From the back, the simple construction of a grey cement board gives it the appearance of a garden shed, but step around to the front and you'll see this jewel box of a tiny home in full glory.

Exclusive: 50,000 people are now facing eviction after bedroom tax (westcoastjan)

Barrow in Cumbria was the worst-affected area, where more than three-quarters of all council-house tenants have fallen into arrears since the bedroom tax started. In Clackmannanshire, Tamworth and South Kesteven more than half of all affected households have fallen behind on their rent since the charge was introduced.

The shadow Work and Pensions Secretary, Liam Byrne, said: “These appalling figures prove that while this government stands up for a privileged few, a debt bombshell is exploding for a generation of people.

A fatal flaw when choosing the right leader (westcoastjan)

But what if we’re not that good at figuring out the most critical challenges and opportunities we want our leader to solve? And even more, what if the issues of the day are eclipsed by new events? With the pace of change as intense as it is across industries and countries, how can we even believe we are able to identify the precise bundle of experiences, capabilities and personality needed to take on what tomorrow brings?

Hua Xia Bank introduces five gold and silver coin ATMs in Beijing (westcoastjan)

Buyers can purchase the coins using their bank cards. After they place their orders using the machine's touchscreen, their payments are verified through bank card organization China UnionPay and they can pick up their purchased items through the opening on the lower part of the machine.

Xi'an police bust factory selling fake beef (westcoastjan)

The factory processed the pork during the night and sold it as beef for around 25 to 33 yuan (US$4-$5) per kilo to local markets the next day, said local police, who found 20,000 kg of fake beef at the factory.

A total of six workshops producing the fake beef have been discovered and their meat seized as evidence.

Energy

New sulfur-based battery is safer, cheaper, more powerful than lithium-ion (Arthur Robey)

The problem with conventional lithium-sulfur battery chemistry, though, is that the liquid electrolyte — which is present in just about every commercial battery chemistry — essentially burns through the sulfur cathode, resulting in a battery that’s only good for a few charge-discharge cycles. The scientists at ORNL have solved this problem in two ways: They’ve developed a new, more-rugged sulfur-based material for the cathode — and they’ve also introduced a solid electrolyte, further reducing the wear and tear on the cathode. This new cathode material, fashioned out of lithium polysulfidophosphates, has a massive capacity of 1,200 milliamp-hours (mAh) per gram after 300 charge/discharge cycles; a lithium-ion cathode, on the other hand, has a capacity of just 140-170 mAh/g.

The Era of Cheap Gasoline is Over (James B.)

Refiners started switching over to cheaper winter blends this month, which should push gasoline prices lower. EIA expects an average retail prices for a gallon of gasoline of $3.44 during the fourth quarter of the year. The average yearly price for 2012 was $3.63 and next year's should be $3.43 per gallon. But AAA said that's approaching the limit. Tuesday marked the 1000th consecutive day with a national average above $3.00 per gallon, the longest streak on record. AAA said that, despite the emerging fourth quarter trend, $3.00 for a gallon of gasoline "may be automotive history for most Americans."

Environment

Some Places on Earth Should Remain Untouched (westcoastjan)

In Canada, they include awe-inspiring landscapes like the boreal forests of Pimachiowin Aki straddling the Manitoba-Ontario border, Gwaii Haanas off Canada's West Coast and the Sacred Headwaters (called Tl'abāne in the local Tahltan language and pronounced "Klabona" in English) in northwestern B.C. The latter is the birthplace of three of the continent's great salmon rivers, the Stikine, Skeena and Nass.

Gold & Silver

Click to read the Gold & Silver Digest: 9/17/13

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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