Daily Digest

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Daily Digest 9/27 - The Fragile Five, U.S. Natural Gas Debate Heats Up

Friday, September 27, 2013, 9:17 AM

Economy

The Shocking Truth About Secret Documents & The CFTC (Thomas C.)

I am inclined to take them at their word, insofar as those ‘clients’ are likely to be the US government. The US government very likely trades in the metals markets every single day, either through agents or through the Bank for International Settlements. Remember, the BIS is a gold bank whose only clients are governments....

Peter Schiff Was Right Part Deux: The “Taper” Edition (Thomas C.)

Well, the “Peter Schiff Was Right Video Part Deux” is now out and I expect this one to go viral as well. In this case, pundits laugh at Peter’s insistence that there will be no taper and that it was all a bluff (they pull off the same bluff every year). It ends in classic fashion with Bob Pisani explaining to the dwindling audience at CNBC that “no one saw it coming.”

Revenue Canada issues run deeper than Nicolo Rizzuto cheque: ex-staff (westcoastjan)

But the cheque may be just the tip of the iceberg, Enquête's research suggests. Jean-Pierre Paquette, a retired auditor with the CRA's anti-organized-crime unit who learned of the cheque, said he raised wider concerns about possible collusion between some agency personnel and a pair of construction executives, one of whom has ties to organized crime.​

The Fragile Five (westcoastjan)

Perhaps one reassuring thought is that there has been some time for these economies to prepare for the inevitable end of cheap cash. Unlike prior crises where the money left quickly there is no "sudden stop" of cash this time. After all it's been five years since the financial crisis and the Fed can't inject money into the economy forever.

Almost half the jobs Americans thought were safe will soon be done by robots (westcoastjan)

In the modern world of work, low-income service jobs have expanded sharply at the expense of middle-income manufacturing and production jobs. There are many more security guards and pharmacy aides while the rate of growth has slowed in professions such as chemical plant operators and fabric pattern makers. Meanwhile, computers have increased the productivity of high-income workers, such as professional managers, engineers and consultants. The result has been a polarized labor market with surging wage inequality. Research has shown that this polarization between “lousy” and “lovely” jobs is happening in Britain as well as in the US, implying that there has been a hollowing-out of the middle class.

$5.25m For Senate Hair Care & 21 Other Ways Politicians Are Living The High Life At Your Expense (westcoastjan)

According to the Weekly Standard, an absolutely insane amount of money is being spent on the "hair care needs" of U.S. Senators...

Debate Over US Natural Gas Exports Heats Up (James B.)

This is bad news for the gas industry, which is already struggling to justify their future investments in shale gas explorations. Even with the EIA’s estimated increases in the U.S. natural gas prices, this will still be substantially lower compared to the rest of the world. Japan switched off its last operating nuclear reactor on the 14th of September and is currently free of nuclear energy. As a consequence, it is paying $15/mmBtu. Other emerging Asian nations are facing similar prices. Even in Europe the lowest price of LNG is around $10/mmBtu.

Ground Gives Way, and a Louisiana Town Struggles to Find Its Footing (Nervous Nelly)

More than a year after it appeared, the Bayou Corne sinkhole is about 25 acres and still growing, almost as big as 20 football fields, lazily biting off chunks of forest and creeping hungrily toward an earthen berm built to contain its oily waters. It has its own Facebook page and its own groupies, conspiracy theorists who insist the pit is somehow linked to the Gulf of Mexico 50 miles south and the earthquake-prone New Madrid fault 450 miles north. It has confounded geologists who have struggled to explain this scar in the earth.

Climate change: how hot will it get in my lifetime? (jdargis)

Data provided by the Environmental Change Institute, School of Geography and the Environment, and Department of Physics, University of Oxford, with support from the Oxford Martin Programme on Resource Stewardship and the Union of Concerned Scientists.

Climate Panel Says Upper Limit on Emissions Is Nearing (jdargis)

To stand the best chance of keeping the planetary warming below an internationally agreed target of 3.6 degrees Fahrenheit above preindustrial levels and thus avoiding the most dangerous effects of climate change, the panel found, only about 1 trillion tons of carbon can be burned and the resulting gas spewed into the atmosphere.

Gold & Silver

Click to read the Gold & Silver Digest: 9/26/13

Provided daily by the Peak Prosperity Gold & Silver Group

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4 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Online)
Joined: Jul 30 2009
Posts: 4066
Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Thanks Jdargis

For your amusement and gratification here is NASA's Modeling. It's up there with UFO's and smoking being bad for you.

NYT.

Reading the comments one finds that the skeptics are evaporating like the morning dew. But perhaps that is due to the sort of people who read the NYT.  I found only one lonely skeptic who saw the whole issue as a ploy to raise revenue by the Greedy Oil Companies.

What a wonderful rationalizer the Left Brain is.

westcoastjan's picture
westcoastjan
Status: Platinum Member (Offline)
Joined: Jun 4 2012
Posts: 561
Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Sax caught my attention with this.

Mr. Hockey (Australia) played down talk of overheating in house prices, saying rising recent strong gains in markets like Sydney will help to spur supply of new housing.

"There is confidence back in the real estate market in Australia. rising house prices actually help to make marginal property development viable," Mr. Hockey said.

My inclusion.

People say the darndest things.

So sinking the mining windfall into a Real estate boom is a wonderful plan? "Marginal property becomes viable" Mr Hockey?  I understand that to mean the outer fringes of the sprawling mega-cities. If they are marginal now wait until the price of oil rises again.

This is not going to end well. We need a change of leadership. This one is mired in the 1950's. I can feel a rant building up in my chest.

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